Legend Numismatics Announces Lawsuit in Latest Market Report
After several months of intense investigation, we would like to announce that Laura Sperber has filed a lawsuit against Paul Elwell from Mattawan, Michigan alleging that Elwell is responsible for a false and defamatory “report” about Laura that was posted anonymously on the website, ripoffreport.com. We are confident that our legal team will prevail in the proceedings. Sperber’s complaint against Elwell was filed in the United States District Court, District of New Jersey.
SOMETHING IS GOING ON!
For the past five years straight February has been deader than dead for us. We always do a gazillion dollars in January (like we just did again), then things slow so bad we end up taking a loss for Feb. Not so this month! The train never applied its brakes and we are going full speed into a monster all time record month of February.
Our big guys have not even chimed in. We can’t find much for them. Its been record sales off the web (like today we posted a 25C 1903 PCGS PR67 DC CAC which was sold within minutes of its posting-and we won’t be done posting until tomorrow night). This past week our web site sales were plain madness (here are just a few): 1C 1848 PCGS MD65RD, 20C 1877 PCGS PR66, $1 1802/1 PCGS AU58, and our biggest web based sale: the $2.5 1826/5 PCGS AU58. Of course we did MANY other sales off the web. Then there were our private sales not off the site (due to confidentiality we can’t mention them). In all, we sold well OVER $400,000.00 from the web and close to $1 million total. That’s a monster week for February!
We’re not sure whats going on. We know collectors want nice coins-and we have been lucky and have had a few. But that does not always drive sales. We have seen more people starting to build sets again. We have had TWO calls to build Morgan Dollar sets. One person told us he did well in the stock market and decided to “treat himself” to a special coin for his collection. The good thing we have seen ZERO speculators. We’re still way down in the collecting phase of the market-so prices are pretty much pure. All our action is from pure collectors.
We also find it very interesting that better Saints (better dates in MS65 and HIGHER) are finally attracting interest and are selling strong. Right after the Duckor sale last year you could have bought some of his coins for LESS than what they sold for to one maybe two people. Today-NOT! Now there is a small crowd looking to buy. Guess that was just the cycle. The coin market does have its cycles like this-do know its not always straight up!
Hard to say what is happening here. We can say this RARE gold coins have NOT dropped one bit or lost ANY demand. In fact, we heard the generic gold market is still quite stable. People are nervous about the future and they want some form of gold. We strongly feel unless there is an out right crash to $1,200.00 the gold market will still have heavy demand (and maybe more so if it crashes).
If your looking for a good play on rare gold-build yourself a Type set. That way YOU can select from whats available and include what YOU want. This method generally has created better sets as you do not miss opportunities while searching for the elusive “key” date.