THE PAST WEEK
We had no major blockbuster sales or deals happen. Out side of the fact we had 8 Early $5 pieces in AU-MS62 (ALL PCGS ALL CAC) fly out with multiple buyers left waiting, we were quiet. The correction in the stock market clearly froze or captured many peoples attention. As has happened before, life will return. Only this time, it will be even a more powerful surge as prices in coins MUST go up to satisfy any significant new demand. For the past two years or so when the “right” coins pop up-the majority never even make our web site, they are sold immediately. Right now that is especially true with better gold. We would kill to bet able to spend $10 million or more (yes, you read that right) on better gold-even if the coins are not on our want lists.
Obviously it will take a little time before the stock market evens it self out. We do know the smart money started to cash in months ago. That is more then proven by the fact there just no darn cool coins to buy. Every other day we get calls from our fellow retail dealers asking if we bought and sold any cool? They are just dying to know they are not the only ones suffering.
All we can tell collectors for now: “buy the BEST coin you can afford and hold (does not have to be an MS68-it can be a killer 80S $1 in MS66+)”. Simply strategy. Don’t hurt yourself trying to build a gigantic set. Build Type sets where you are in control of what you want included. Or build mini sets, there is so much that actually can be done even with better coins in short supply. It may sound hawkish, but we’ve been full time dealers for 40 years, we’ve seen the cycles. This cycle is starting to really perculate up-all the classic signs are there. Do NOT try and buy and sell with the market. LONG TERM holding is and will always be the BEST strategy.
Just in: Our super secret stealth seller attended the smaller St Louis Show. He indicated several of the bigger dealers attended and he did a brisk $230,000.00 in sales (really good for a smaller show). All his biz was by just roaming the bourse floor. He sold soup to nuts. We’re VERY happy with what he sold for us as we got out of several coins we’d never place with collectors for good money. So the wholesale market (he does not sell to collectors at all) seems to be still very alive.
A BUYING REQUEST: LEGEND IS PAYING $20,000.00 FOR ANY WITH MOTTO PCGS CAC MS67 $20 SAINTs . Email or call us with ANY GEM CAC gold you would like to sell.
NEWPS
As you will now see, our well is becoming totally dry-especially of gold. However, NONE of the NEWPS we are posting this week are anything less then fabulous! Highlights include:
3CS 1870 PCGS MS67 CAC
25C 1831 PCGS MS66 CAC
50C 1943 PCGS MS68 CAC
$1 1879CC PCGS MS64 DMPL CAC
$2.5 1825 PCGS AU58 CAC
Of course we worked hard to have an offering to fit all tastes and budgets. A shout out to all you hungry DMPL collectors-we did not forget you-the supply is QUALITY DMPL’s is really non existent right now.
Beat the rush, start a Type set today! Your in total control of what you can include. We think its one of today’s smartest ways to collect. Of course we’d love to work with you!
LEGEND RARE COIN AUCTIONS
www.legendauctions.com
OUR FEBRUARY PREMIER SESSIONS SALE
This is a sale you will NOT want to miss! Over 160 lots-EVERY lot was handpicked by Laura Sperber (who has unquestionably assembled many of this decades HOF greatest collections) and double checked by senior numismatist Greg Cohen. They rejected at least 45 coins. NO other internet auction company offers you that kind of reassurance!
Highlights of the sale include (some of which can be seen on the site already):
1C 1882 PCGS PR67 BN CAC
5C 1915 PCGS PR67 CAC
H.10 1800 LIKERTY PCGS AU55 CAC
10C 1863 PCGS PR66 CAMEO CAC
20C 1875 PCGS PR66 CAC
25C 1796 PCGS F 15 CAC
50C 1818/7 PCGS AU50
50C 1950 PCGS PR67+ CAC
G $1 1853C NGC MS63 CAC
$2.5 1840C PCGS AU53 CAC
$10 1914 PCGS MS65
$20 1857S CENTRAL AMERICA PCGS MS65 CAC
$20 1892S PCGS MS63+CAC SADDLE RIDGE
We assure you this is not your average Sunday night slop shop of a sale. The insurance value of this sale-$500,000.00.
ALL of our Premier Sessions Internet only Sales carry a 10% buyers fee. Our Regency sales are only 17.5%!
These coins will be available for viewing at Long Beach. The sale closes Sunday night Feb 25th starting at 9 PM EST.
Our Internet Only sales ARE different. No 250-1000 lots of dreck to wander through. It is our intent to have each sale be “mini” Regency Sales with a cap of $15,000.00 per coin (oops this time we exceeded it on the 1796 25C). Over 90% of both Internet Only and Regency Sales are sold DIRECT to collectors. At Legend Rare Coin Auctions, we know our coins-which benefits everyone!
Be prepared, our January Premier Sessions Sale did record business. We expect many coins in this sale to do the same.
TWO AMAZING COLLECTIONS TO BE OFFERED IN MAY
The Oak Crest Collection of $5 Liberty CC’s coins. AU-MS64
The Crow River Peace Dollar set- an MS65-67 ALL white set
We will have another major announcement shortly. This is will be really exciting sale. We are also getting lots of smaller groups of coins $15,000.00-$50,000.00 that are fresh and are just incredible.
There is still time to consign to the May Regency Sale to be held in New Orleans. Contact Julie Abrams: julie@legendauctions, or Greg Cohen: greg@legendauctions.com. They will craft a package that is right for you. Remember, we can not only place your coins in our auctions, but we can take them on outright consignment or buy your coins. Most important, they will work with you from start until you receive your huge check.
IF YOU HAVE ANY QUESTIONS OR WISH TO PLACE AN ORDER, PLEASE EMAIL US : legend@legendcoin.com. WE DO NOT CHECK OUR PHONES MESSAGES UNTIL 9 AM MONDAY
