HOOPS ARE NOT THE ONLY GAME THIS MONTH!
Much to our surprise, the coin market is clearly now staging a come back. No, prices are not rising overnight and there is no throng of new buyers, however it is clear that coins are selling again. Last week our sales were strong and other dealers we spoke to all had good results as well.
The magic wand that made things change was the same thing that killed off the market in Feb-oil and the stock market. Both are way above their lows. People are not sitting on the sidelines panicking or in shock as to what to do today. Obviously the recovery has made people feel better and lead them to buy again. As we said before, all that chaos caused an already weak Pogue III sale to crash and burn. Fast forward just 40 days, we truly believe had that sale occured today, the results would have still be weak, but overall would have been much stronger.
Buying pretty much anything GEM today, WILL yield you substantial results down the road. All areas of numismatics have come down in the past several months. There is NOT that much more to go before prices take off. We’re NOT hyping anything, another “perfect storm” is coming. This time the market will freeze not because of demand, but pure lack of supply. This cycle clearly showed how many great coins are really in strong hands. So now that people are buying again-there is not a whole lot of coins for them to choose from. We’ll run into the huge “wall of dreck” as demand picks up. We think that now until mid April will be a mini March Madness of trying to buy.
GOLD
Obviously the price of spot gold is inching up. Frees up lots of money on the wholesale side of rare coins as many of the bigger dealers are major market makers of generics. Then they try and buy better gold which helps the secondary markets. Only problem we see, supply was a drip BEFORE gold started to move up.
We see hardly any super choice Bust Gold, there are few fresh mid range pieces of even rare Libs coming out, and we can’t even buy many generics (we are high bid on many pieces). Surprisingly, even drecky generic gold has limited supply.
Yet again, we MUST stress, if you see really nice original gold of with a decent rarity and you think the premiums are a little strong-BUY the coins! We assure you there will be NO decent infusion of supply on the market any time soon. Do NOT wait until the herd comes back-you want to sell into it. One thing we most highly recommend-build your self a Gold Type set, it can be basic or include every variety. A Type set will cover all the bases, yet allow you the freedom to build the exact YOU want. If you wish to build one, contact us today-no current dealer has built more great collections then Legend!
NEWPS
We don’t get it. How can “RARE” coin dealers always be adding hundreds of NEWPS? We have years of contacts, we’re known to be strong buyers, and we don’t miss any major auction. We never have large offerings of NEWPS because we don’t see a whole lot we like. With us, QUALITY DOES MATTER!
We do have exceptional NEWPS this week. Sorry, only one gold coin and no Morgans-could not find anything we liked. We are always looking for great DMPL’s and better gold. Anyway, highlights this week include:
5C 1936 SATIN PCGS PR68 CAC Monster colors!
25C 1894O PCGSMS66+ CAC Tied for finest graded at PCGS.
50C 1884 PCGSMS67 CAC A monster of a coin!
$1 1856 PCGS PR66+ GOLD CAC The FINEST known 1856 PR $1!
We have many other SUPERB NEWPS as well as these listed above. Don’t forget to check out our regular inventory as well. We have several coins we’re a little surprised we did not sell instantly when we originally posted them. We’ll work hard to get you into the coin you want!
LEGEND RARE COIN AUCTIONS
As we have said before, space is filling up fast for our May 19th Regency Sale. The obvious world class rarity we were consigned this week was the 2nd FINEST KNOWN Quintupple Stella PCGS PR64 DCameo. Our estimate is $1,600,000.00-$2,000,000.00. Only five are known-with the majority of collectors never having seen even one!
We also have a very choice 25C 1827 ORIGINAL PCGS PR64. This is a VERY nice coin with NO problems. Sadly, the 1827 is so rare it has faded from sight and has been seriously eclipsed in value by so many other coins. Only NINE were ever minted. We believe this coin is comparable to an 1838O 50C. The last PR64 38O sold for $734, 325.00 01/2013. Compared to that, with a reserve of $275,000.00 hammer, this 1827 25C is a steal! Plus, this coin has been off the market since 2007. We do expect serious bidding on this great rarity-be prepared!
Here is a small random listing of coins in our upcoming May Sale:
1C 1913 PCGS PR66RD CAC
3CS 1857 PCGS PR65+ CAC
5C 1900 PCGSMS67 CAC
10C 1858 PCGS PR64+ CAMEO
10C 1942/1D PCGSMS65FB CAC
25C 1849 PCGS PR65 CAC
50C 1835 PCGS MS65
50C 1950 PCGS MS67FBL CAC
$1 1796 SMALL DT, SM LET PCGS X40 CAC
$1 1873CC TRADE PCGS AU55 CAC G
$1 1860D PCGS AU58+ CAC
$2.5 1893 PCGS PR65+ DCAMEO CAC
$5 1849C PCGS XF45 CAC
$20 1929 PCGS AU58 CAC
$50 PAN PAC OCT PCGS MS63
$1 HAWIIAN PCGS MS65 CAC
50C ALBANY PCGS MS67+ CAC
Sign up for our emails. This week we expect to be sending one out Thursday with everything we have so far for the sale. We also expect to have highlights posted on the site this week. This is shaping up to be our best sale ever!
If you wish to consign, call or email us TODAY. We MUST have ALL coins in our offices by April 1st. The earlier the better. as we do really promote every single coin we get. Contact Julie Abrams: julie@legendauctions.com or Greg Cohen at: greg@legendauctions.com to discuss consigning.We may be a smaller company, but we DO get BIG results!
IF YOU HAVE ANY QUESTIONS OR WISH TO ORDER, PLEASE EMAIL US: legend@legendcoin.com. WE DO NOT CHECK OUT PHONE MESSAGES UNTIL 9 AM MONDAY. PLEASE NOTE WE CAN NOT HOLD ANY COINS PENDING IMAGES.
