Gold & Silver Forum - $3 M cash for ultra high relief saint

if the rare coin trade isnt already affected by LAVANDERIA it will be soon enough, maybe this is one right here

Quote:

<CENTER>$3 Million Plus For Ultra-High Relief Saint
Generic Dollars Rebound 

</CENTER> The financial markets are vacillating here at home and around the globe, as a result of finance companies having offered high risk, subprime mortgages to some customers. Tentative investors are contemplating their next move in light of major credit concerns and declining consumer confidence levels. Perhaps unsurprisingly, these economic adjustments have resulted in the housing market's further deterioration. Although the Federal Reserve Bank's intervention may stem the tide temporarily, it is still a wait-and-see situation. Will the economy head south? Some have even mentioned the "R" word, though it is premature to say that a recession is imminent. Of course, a thriving economy is crucial to the health of the rare coin market. If collectors find themselves in a bind for cash, or they curtail buying additional coins, then things can deteriorate quickly. Many dealers remain in a strong monetary position, sustaining Bid levels as we close the month. This won't necessarily translate into rare coin acquisitions if those holding the needed material are not willing, or don't feel the economic need to part with it. In any case, optimism is still strong for the September coin market, assuming the economy remains on a relatively even keel. 
Dealers do expect a rough road as we move forward when it comes to finding some of those important want list coins. In part, the difficulty stems from the quality demanded by their customers. Today's sophisticated collectors are looking for original, attractive coins that are problem-free for the grade. While the key dates are preferred, collectors are willing to accept other low mintage dates that are considered to be "sleepers." Demand is still very strong for any pre-1840 coinage. These coins are being put away at an alarming rate, and dealers say replacing them is getting increasingly difficult. Fortunately, opportunity is at hand for acquiring some of this highly demanded material. As summer winds down, activity gears up again in September. The Long Beach Expo, auctions and its surrounding Beverly Hills pre-sales are some of the upcoming venues that have real potential to produce success next month. 
At least one collector was recently willing to let go of a prized numismatic rarity. From details just released, we learned that the finest known 1907 $20 Ultra-High Relief Saint-Gaudens, graded PR69 by PCGS, sold via private treatise for over $3 million in cash. Heritage Auction Galleries facilitated the sale to Certified Assets Management Incorporated, of Wilmington, Delaware on August 13. Don Ketterling, Executive Vice President of CAMI, described the rarity, saying, "This coin has it all: It's big. It's gold. It's rare. It's the highest quality possible, and it's unquestionably one of the most beautiful coins ever produced anywhere in the world." Ketterling also discussed how this recent acquisition demonstrates continued, very strong demand for big money coins. Today's market routinely sees coins selling for well into the seven figures time and again. Indeed, what is now considered almost commonplace was simply unheard of just a short time ago.






Reprinted from Issue No. 354 August 31, 2007 of the Coin Dealer Newsletter - the Greysheet
This article is copyrighted, may not be reproduced without permission from CDN publications. �2007 CDN Inc.