THIS ANA SHOW WAS A SURPRISE
We had expected this to be such a bad show half our staff left Thursday night. Good thing we did-we were told by multiple sources Friday was dead. HOWEVER, the show was strong on Thursday and wholesale was even better before the show opened. OUR only complaint, the show was not near any hotel.
On Thursday the small room was crowded. This was a rare event where collectors actually out numbered dealers for a short time. The collectors were not active on our level, but smaller dealers with cheaper coins we are told enjoyed strong sales. We can more then confirm activity wholesale wise on our level was beyond strong. Our market is EXTREMELY alive and well.
We still must talk about our “super secret stealth seller”. Yet again he sold well over $500,000.00-remarkable for a small show with weak dealer attendance. He was texting us at 7 am and then at 11 PM ( a $40,000.00 sale) to let us know how active he was. We were second in line to see his coins, and we disappointingly had to watch the #1 buyer walk away with $110,000.00 right in front of us. We spent $40,000.00. Still, this was a great positive way to start a show! Obviously, on a WHOLESALE level, dealers are strong buyers.
Yet again, we sold far more then we could buy. We would not buy any coins for our Want Lists. We walked the show several times looking for bread and butter items like DMPL’s, choice Bust coins, GEM Proof pretty Type, and of course CAC gold. We found ZERO interesting coins. We are in full acceptance now we will never find the $20 1907 WE HR PCGS CAC MS66-67 we so badly need (only 2 years ago we could take our pick of pieces). The ONLY way this cycle will break and really move upwards is for the published prices to start reflecting reality. Collectors still do not understand fully there can be as much as 100% difference between a NON and a CAC coin. Its not just about the sticker-it is about the quality of the coin. And when no really good coins are around all the public sees offered is high priced retreads or dreck-which slows the markets ascent. The smarter people do what we recommend, either work with a good dealer or follow auction prices.
With the surprising one day of strength at the ANA Show, we expect the market will continue to be good for some time. We expect Baltimore to be really strong-if any good coins appear. Good luck finding nice gold coins.
Note: to date, BOTH Legend Numismatics and Legend Auctions sales are 25% MORE then at the end of March 2017 (and we still have half of March to go). We will acknowledge our profits have been squeezed as more of the better coins can only be found in auctions. Regardless, that is proof demand and prices have firmed up. We still are unable to buy as many big deals as we had 5 years ago.
LEGEND NUMISMATICS AND LEGEND AUCTIONS OFFER OPTIONS FOR SELLING
Legend Numismatics does not just need the big expensive coins-we need bread and butter pieces. We can buy your coins out right or take them on consignment. The process to determine what is best for your coins can not start until we physically see them. We assure you, when it is a coin we really want-NO ONE WILL PAY MORE THEN LEGEND-NO ONE! No deal is too large (or small) for us!
Legend Auctions is always seeking quality consignments. We offer two types of sales, our Regency and our Monthly Premier Sessions which are mini Regency Sales. While we are selective about our sales, we do offer hybrid options. If we feel a coin won’t fit, we can buy it out right or take it on consignment. Do note: our general policy on coins purchased with in the past year-unless a special situation is involved, we will only accept them for auction with NO reserve.
The Legend companies need coins. Our out right buying capacity exceeds the $10,000,000.00 we spent on the 1794 $1 a few years ago!
We offer more great selling options then any other firm. Contact George Huang: legend@legendcoin.com for all Legend Numismatic business. See below for auction contact info.
NEWPS
Even though our buying at the show was weak, we still have a small but awesome group of NEWPS to offer. Highlights include:
50C 1855S W/A PCGS AU58 CAC
$1 1802 PCGS MS 63+ CAC
$2.5 1897 PCGS MS67 CAC
$10 1803 SM ST PCGS MS61 CAC
We really worked hard to have an offering that has something for everyone. Do not for get to check out our regular listings as we have many great coins that deserve great homes! We will always work hard to get you into the coin of your desires.
ALL NEWPS ARE NOW POSTED
LEGEND RARE COINS AUCTIONS
www.legendauctions.com
STAY TUNED! This Thursday our March Premier Sessions Sale opens. We assure you, it will be chock full of QUALITY coins with the vast majority unreserved! Here are some highlights:
1C 1821 PCGS AU58 CAC
1C 1824 PCGS MS63 BN CAC
1C 1941 DDO FS-102 (FS-018.1) PCGS MS66+ RD CAC
5C 1916 Doubled Die Obverse. PCGS AU50
10C 1916-D PCGS AU58 FB CAC
50C 1795 PCGS XF45 CAC
50C 1836 Reeded Edge. NGC AU55 CAC
50C 1921 PCGS MS63
T$1 1873 NGC PR64 CAM
$1 1884-S PCGS AU58+ CAC
$2.50 1840-C PCGS VF35 CAC
$20 1907 High Relief, Wire Edge. PCGS MS63
Today, looking on the desk or our administrator, there must still be over 100 coins (for both March and May) waiting to be logged in. Every day we are getting amazing coins now for our May Sale. Yesterday we got in a killer 25C 1932D PCGS MS65+ CAC and a remarkable $1 1925 PCGS MS67+ CAC that is really close to MS68! Can you imagine 500 coins like these in a sale? That is what our boutique style auctions are all about. You can now watch the May sale being built-check it out.
While our March Sale is closed for consignments, our May Sale is nearing the final days (next Friday is the close-NO exceptions). Do note, we are picky about what we take. We especially are picky about toned Morgans. It needs to be better known there is only a small group that display the type of iridescent colors that bring the big premiums. Also, as harsh as this may sound, we do reject coins. We just rejected a huge consignment because it was all recently purchased, the quality was marginal, and the reserves were unreasonable on many coins. We will sacrifice deals like that to ensure our brand remains strong and different from all others.
If you have coins you wish to consign to our May Sale, contact Greg Cohen: greg@legendauctions.com, or Julie Abrams: julie@legendauctions.com immediately. Space is now very limited.
IF YOU HAVE ANY QUESTIONS OR WISH TO ORDER, PLEASE EMAIL US: legend@legendcoin.com. WE DO NOT CHECK OUR PHONE MESSAGES UNTIL 9 AM MONDAY
