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Posted: January 27, 2017 11:38 AM EDT| 0 Replies
IT MIGHT BE WINTER BUT THE HEAT IS ON!
Last week was a highly unexpected STRONG week. We had decent sales off our web site, really strong sales off our Want Lists, and a few big “lucky” sales.
The “switch” as we like to call it has been on for a few months for buying. Clearly collectors (at least the ones we deal with) still have HUGE appetites for better coins in great conditions. Of course those coins generally are the hardest to find. But when the coins do finally show up-they sell immediately at asking prices. Everyone knows just how limited the true supply of great coins are.
Our two biggest sales involved 3 coins that were for the most part “stalked”. One coin-a mind boggling 25C 1904O PCGS MS67+ CAC (this coin deserves to be in the Northern Light Collection-its that crazy wild toned). The collector who bought it missed an opportunity to buy it a year or two ago. It had severely haunted him. In the mean time the coins new owner (who has an incredible collection) became so smitten by it the piece became his favorite. Needless to say, it cost the new owner a significant premium over what he originally could have bought it for. We do see a lot of activity like this happening today. Moral of the story-DO NOT PASS UP A GREAT AND WILD COIN! Pay the price, it WILL yield you significant profit as time goes on (the immediate big profit on the 04O was an abberation in our opinion). The 04O is now in a set we are helping exclusively build. It resides with the famous Gene Gardner 1901S 25C PCGS MS67+ CAC and the MONSTER out of this world 25C 1898O PCGS MS68 CAC!
CONGRATULATIONS TO OUR PARTNER-ONE OF THE MOST INTENSE COLLECTORS ALIVE!
We’ve not saying that in a negative way. Bruce Morelan finally bought the two coins he has lusted after for many years-the $1 1851 PCGS MS65 CAC and the $1 1852 PCGS MS65 CAC. Both of these coins are best of the best and really have “no right to exist” (a dealer saying).
For nearly a decade Bruce spent almost every day thinking about those two coins. Don’t think him building the all time FINEST Bust Dollar set was a distraction from these two coins. He had us chasing these two coins hard forever. They were with a well heeled collector who loved them as much as Bruce does. After seeing Bruces incredible Bust Dollar Collection at FUN, the collector felt out of respect (plus it was probably time to move on) that he would sell the 2 coins to Bruce. So now, the Legend MS Seated Dollar set is even better as the FINEST EVER! Hard to believe that could actually happen.
In this case too, Bruce paid the owner a significant profit. You better believe, these 2 coins add value to an already extremely valuable collection. We immediately placed the 2 high end MS64 duplicate coins with an up and coming collector. Who will enjoy the same satisfaction of ownership as Bruce and down the road he will make good money on the 2 coins.
Here too (as with the 04O) a significant profit on the 1851+1852 was paid by Bruce. Neither collector is crazy. This is the secret sauce as to how you build a world class collection. BOTH Bruce and the 04O collector have no intentions of selling their collections. They both have coins with no peers. As time goes-as PROVEN by the greatest collections ever (Norweb, Garrett, Eliasberg, etc), the values of these coins WILL only rise.
Ugh oh, here we go again. Great coins are nearly IMPOSSIBLE to find again. We were hoping to buy gold at the PCGS invitational-and we bought TWO smaller coins. Yikes! Right now supply vs demand-demand wins by a wide margin!
Still, we work really hard to buy. And our offering this week has some really special pieces.
5c 1913 TYI PDS MS67+-68 CAC Angel Dees coins. We have NEVER seen such a remarkable group. yes, we bought it from our own auction. We were not just smitten-we were obsessed with these coins.
$2.5 1914D PCGS MS65 CAC OGH. Try finding another. This was the last coin we need to complete the major set we built recently-took us TWO years of waiting.
$5 1853C PCGS MS64 CAC Ex Bareford. Possibly the FINEST KNOWN. What an amazing coin!
As always we do our best to offer a well rounded selection. For us, only the very best coins will do. So you can order with confidence!
Don’t forget to checkout our regular inventory too!
LEGEND RARE COIN AUCTIONS
We were just hoping for a good sale. For whatever reason January is a tough time to hold an auction. We never expected the Simpson Patterns to be so strong and attract so many bidders-especially NEW bidders. Prices realized on many coins were very strong and in some cases record breaking.
The stars of the sale-actually the SUPER STARS of the year so far, clearly were the Northern Lights Collection pieces. The majority of coins sold for insane “beyond moon money” prices. There were significant MULTIPLE bidders on EVERY lot. Two of the record prices:
$1 1881S PCGS MS66PL CAC “freckles” $23,500.00
$1 1885O PCGS MS66+ CAC “screaming WOW” $19,387.50
Do not heckle the buyers. There were numerous bidders (freckles had 6 bidders over 10G). REAL burlap bag toners like these are natures ultimate works of art for coins. For the quality and outrageous beauty of these coins, the prices actually are not crazy, they are fully appropriate. Coins like these do NOT trade cheap-never have, never will!
Type actually did well too.
1C 1857 FE PCGS PR65 CAC $37,600.00
3cs 1859 PCGS MS67 CAC $11,750.000
20C 1875 PCGS MS65 $7,343.00
$1 1864 PCGS PR66 CAMEO $47,000.00
$50 HUMBERT PCGS AU55 $61,687.50
Remember, this was a smaller sale then normal. Overall, the majority of coins did sell strong. most important to us: over 90% of all coins sold to collectors. Of those collectors we noticed a substantial amount of first time Legend Auction buyers. We may not have the biggest number of followers, but we clearly have the “right” buyers that yield results equal or stronger than ANY other auction company!
Our nest sale is our new Premier Sessions Internet Only Sale in early February. We will have a list up shortly. We will have the coins available for viewing at Long Beach. EVERY coin in this sale was vetted by TWO world class numismatists. You cna bid with confidence!
We are always seeking quality consignments. contact Greg Cohen greg@legendauctions or Julie Abrams julie@legendauctions to discuss.
IF YOU HAVE ANY QUESTIONS OR WISH TO ORDER, PLEASE EMAIL US: firstname.lastname@example.org. WE DO NTO CHECK OUR PHONE MESSAGES UNTIL 9 AM MONDAY
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