By Laura Sperber – www.legendcoin.com

Congratulations are in order for Steve Contursi the owner and seller and the Nothern California Collector (the Cardnial Collection) who now owns the WORLDS MOST EXPENSIVE COIN! The Neil/Carter/Contursi specimen 1794 Flowing Hair silver dollar.

We knew it was a matter of time before something like this would happen. You had a hungry collector with funds who cherished a unique coin. He didn’t really have many choices for the date. So it was matter of passing or paying the price. We do know for a fact, there were at least TWO other seriously interested collectors as well who wanted to own it. The new owner simply paid more than the others.

For those who feel the price is extreme, we do not. The coin is unique, high quality, and wildly historical. There is nothing else like it. We strongly believe should the new owner have the long term holding power, when sold, this coin will yet again break all pricing records.

Also, we strongly believe within the next year, the $10,000,000.00 price barrier will be broken. There are two coins that will easily do it when they come to market (not if-Legend has made an offer on one for much more).

Having a gigantic sale that creates a record price just adds to consumer confidence in the high end maket. The DOES trickle down to ALL levels as well (I’m sure we’ll read on the chatrooms how teh typical ebay buyer does not care-but it does affect them). Collectors love auctions because they believe they were only one bid on top of someones elses. In this case, buyers of the rarest coins like seeing the highest levels have activity and move up in value.

OUR COMMENTS ABOUT GOLD

From last weeks Market Report: Gold has heated up and is back in demand. We did warn you! However, we are not certain this week gold won’t take a short breather.

Gold did take a dump. We think the price will fluctuate around $1,100-$1,200.00 for a while. This does not mean by any stretch that the demand for gold coins or bullion has slowed. In fact, since the fall we have heard from even more people who want to own better gold coins. We have virtually no one selling us any gold of any kind (including generics).

A CORRECTION TO A STATEMENT

We stated that we did not know of any $10,000,000.00+ collections on the West Coast. OOPS! We forgot about a few amazing copper collections-and now one heck of a Early Silver Dollar Set! Our thinking really was about Morgans, Gold, and Type. So this furthers our point that there are so many HUGE collections holding many great coins scattered all over. We are sorry about the narrow minded thinking.

On November 4th, CoinLink posted a News excerpt entitled “Odyssey Marine Exploration accused of stock market fraud” which was aggregated from CDNN online News [Link to Article]. The story was actually a repost of an original article posted by the Sunday Times of London (UK), under a different headline “Sunken treasure ‘overvalued to lift shares of salvage firm’”.

On Monday November 12th, it was brought to our attention that the original Sunday Times article, and more specifically the derivative copy that CoinLink posted had serious and material misinformation and presented implications that were either unfounded and/or without merit.

As a result CoinLink has removed the article from our site and has apologized to Odyssey Marine Exploration. We also apologise to our readers. This is the first time in 15 years that we have removed any content from CoinLink which has been found to be from a questionable source, and we will redouble our efforts to make sure that it does not happen again.

Scott Purvis – Editor

Below is a copy of correspondence which was sent to the Sunday Times from Odyssey both before and after the article was written. We think that it speaks for itself. (more…)