Monday,
January 23rd, 2006
Hello and welcome to the new market insight for the
week of January 23rd. Last week was fabulous with
sales totaling over $200,000 for retail only. And
the market seems to be attracting buyers purchasing
more then just gold.
Although the gold sales were amazing having sold the
1804
$10 AU58 for $60k and the 1880
$10 in PF66 Ultra Cameo for $92,500, I’ve
had two guys balk on this coin trying to analyze the
price and the final guy number 3 had no questions
because he trusts not only our word but the coin itself.
You have to look at coins such as those like you would
an original Van Gogh painting or a true antique, something
unique, beautiful and rare with no copies out there
to duplicate. For instance I read that a Charles Wilson
Peal full length portrait of George Washington just
sold for $21.3 million – These are treasures
that are definite investment pieces and should be
recognized as such.
For silver coins, a gorgeous Trade
Dollar from 1875 in PF65 Ultra Cameo found a home
with someone who appreciates beauty and undervalued
specimens, and Morgan Dollars seem to be moving to
stable highs for Proofs and DMPL’s which I agree
on 100% having sold an 1879
PF67 Cameo and a 1884-O
DMPL with a MS65 designation. The key here are
that gorgeous eye appealing coins keep on moving north
due to the scarcity of specimens available.
To go back on the subject of true scarce rarities,
I am trying to reach a crowd other then just coin
collectors and coin experts. The crowd here I am trying
to reach are people who appreciate unique historic
treasures such as paintings, etc…. A coin like
the 1880
Eagle we sold is a coin with a miniscule mintage
of only 36 coins and the total that truly exist are
only to be said 8-10 survivors with this being in
the finest known state of preservation of all out
there.
It’s the people who balk at the coin when they
know they can afford it that end up regretting not
having purchased the coin. I am giving my word on
the value of these coins having sold more Proof
Gold rarities then most people out there; I’ve
sold a number of rarities at record highs but just
not have gone public and commercializing our name.
I am however in the process of taking it to the next
level, because I think we truly deserve the recognition
for such clients to feel confident when purchasing
very expensive coins with us.
One thing I am doing is writing a book about Proof
Gold basing it around the 1804 Proof Eagle which I
have sold twice each time at record highs because
of the story behind the coin, along with the rarity
and beauty surrounding it also. There are bad guys
out there in the industry which have made customers
question themselves when buying expensive coins, and
that is too bad. But on our name, we are one of the
good guys who truly love coins and have built a business
on "honesty, integrity and quality".
When you truly love something you are selling, it’s
a matter of time before it is known and you exceed
in a positive direction.
So take the time to research the coin as long as you
like, but in the end if your gut tells you “I
love this coin”, then you have to go with what
your gut tells you, it has been proven throughout
history to be the correct action taken.
Have a great week and
check in next week for a new interesting write up!
Dean Albanese
dean@coinace.com
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