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The PCGS Las Vegas Invitational Coin Show

Market Report by Laura Sperber of Legend Numismatics

We were blown away at how many people attended. Dealer wise, the list was impressive. Collector wise, Thursday was a list or who’s who! In our opinion, it was the best attended show so far.

Dealer to dealer was not just strong, it was almost crazy. Our first sale was to the first dealer we saw and it was for $40,000.00! From there it was off to the races. Interestingly, Gold was red hot (especially generics) but soup to nuts coins were right up there too. Better gold did enjoy the strongest demand (things like MS65 $5 Indians, better date $10 Indians, and of course any rare date Saints). Selling was too dealer to dealer was almost too easy.

There were a few dealers who came in to “walk” the room. Our top stealth team seller was there and sold six figures just by walking around! Others were there trying to buy for Want Lists (we had two serious offers on our PCGS $2 1/2 Indian set) . And of course a dealer really wanted to buy our flipped over (sold back home) High Relief PCGS MS65 CAC. We actually stopped our wholesale activity early to keep some coins inventory for the upcoming Long Beach Show!

Selling to collectors at this mini show (there are only about 15 tables) was better than our last Long Beach and Baltimore Shows! The first collector who we saw sat down, looked at our PCGS PR66 CAC Barber Dime set and just wrote the check! After that we sold two two coins for over $10,000.00 each to other collectors.

THE MARKET

As you can expect, 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. Even if it does not, apparently the telemarkters recieved massive orders and are back out searching for coins ranging from bullion to expensive rarities. We expect ALL rare gold to remain strong (even if spot gold comes down) becuase there is strong demand and practically no supply. It seems many people feel building a GEM Gold Type set is a very acceptable way to own gold and hedge on it (we do agree).

NOTE: When buying better gold-make sure it is CAC’d. It is not so much because of the grading, its because of so many coins being doctored in some way. Legend is an owner of CAC and sells ONLY CAC stickered coins. We made this decision based upon the serious number of bad gold pieces we have seen. Dreck like that you do not want to be stuck owning. We can tell you BOTH David Hall and Mark Salzberg are committed to the war against coin doctors as are the principals of CAC. We just wish more dealers would take a stand against these villians among us who are ruining coins.

We saw very few coins “made” at the show that were not of the generic gold nature. So the supplies of all metals of all rare coins is still slim to non existant! We still urge you to buy when a great coin does become available-even if there is a strong premium involved. There was some dreck in a few dealers boxes, but those dealers will always have more dreck than nice coins as they are price buyers/crackout dealers.

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