LIFE IS GOOD?
We’re not talking about Jake on the Life is Good T shirts. We’re talking about what we see happening in the coin market. LIFE IS GOOD!
Recently, major shows have become pain pits to us that send us home defeated and scared. We can sell, but it becomes horribly frustrating to buy. Overall activity at shows (large shows) in our opinion, has dwindled if you deal in higher caliber coins. Only this recent FUN Show (of all the shows in the past 2-3 years) had any real collector attendance/life in the isles. Even the once mighty ANA Shows which were “must attend” are now nothing more then a glorified waste of time. Business back home is where it is at.
We came home from FUN bruised and scared stiff because of the worse lack of coins we had ever experienced at that show. Our mindsets were so poor not only did we not sleep for two days after we got home, we did not think we could make any money this month let alone were over consumed with worry about the future of the company. Then BAM! We happened into three small gold deals back home and life became good again. We’re not any where near typical January sales or profits yet, but we found fresh coins that were high in demand and we will survive. WOW! Had 3 big ticket gold coins that never made the web. Had a dozen or so mid priced pieces that sold within 24 hours of us receiving them. Have a handful of coins to still offer and of course all the non CAC gold that we will hopefully wholesale. These deals were total confidence boosters for us. After suffering through the driest FUN ever for Legend, it was like these deals were sent from heaven (offer us more please!).
Demand is as strong as ever for great coins. Great PCGS CAC coins-do NOT exist on the open market today. Our worry is that more money will start coming into hard assets soon as the stock market can not keep up its blistering increases. We already are bone dry of coins and have a broken price reporting systems. So we see a huge possibility of a big lull before the real huge price pop. The only real and live barometer of the market today is auctions. You are already seeing how hard it has become to buy coins in them overall. If you are not prepared to just buy the coin, you won’t even be an under bidder these days (as we have shockingly found lately). Even if no new money came in, coins are cheap today-tomorrow there is no way they will be!
We sold several hundred thousand dollars of neat coins this past week (if you asked us the day after FUN if that could happen-we would say heck no way). Last Saturday was a six figure day, we were swamped! As fast as we posted coins, they sold. Selling clearly is NOT a problem. We think Life WILL be good again in the numismatic world and for us as time goes on this year. Shows are becoming real momentum stoppers for us. All we have to do is find coins! YIKES!
LOTS OF SETS YOU CAN BUILD
Ever since we mentioned our favorite: a gold Type set, we are helping to build several MS64-67 sets. We feel strongly that gold Type sets are the best way to enjoy collecting while taking advantage of golds low premiums and prices-when you can find the coins (as you know we recommend PCGS CAC). At least a Type set puts the collector in control of what they want to collect. Plus, for the most part, you can complete a Type set. Just do NOT expect them to rise in price every time spot gold jumps a dollar. You still have to buy and hold for the long term.
Because of the impossibility of completing many sets (both gold and silver) we suggest mini sets. Do a P Mint sets of Morgans in 64/65, A Bust half set 1830-1836 in 64, or a $5 Liberty set in MS64 or 65 1900-1908. ALL can be completed and are not very expensive. Unless you are willing to pay strong premiums, at times be forced to accept lesser quality coins to fill a hole, or just don’t have the patience, do NOT attempt to build a major collection (like $5 Indians) right now.
One more: Must mentioned PR Barbers-still too darn cheap! We LOVE this series in ALL denominations grades PR64-PR68!
As dry as the market is of great coins, MANY huge opportunities still exist. Take advantage before it is too late!
SELL US COINS!
We are not Johnny come lately wannabes or are people who say one thing and do another. We make real sightUNSEEN bids on PCGS CAC gold and will ALWAYS pay our bids (just ask us what the current bids are). Legend Numismatics needs GREAT coins and WILL pay what it takes to get them. However, we won’t pay insane just because someone is in love w/their coin (we were just offered a coin for $250G that is worth not even $125G).
Here is a real fact: last year, Legend Numismatics spent over $50,000,000.00 buying coins. We paid many record prices both privately and at auction. We bought the $1 1794 $1 PCGS MS64 for $2.8 million and a single 79S $1 PCGS MS67 CAC from a collector. We also bought entire collections-soup to nuts to a get a coin or two we needed. Please offer us your coins! Our Want Lists are still well OVER $20,000,000.00. And oh yeah, we really need that darn $20 1907 HR WE PCGS MS66 or better CAC. You would think with all our connections we’d have found one by now.
We will buy everything-and it does not have to be PCGS CAC. We can offer hybrid deals, immediate funds to purchase, or great rates for our wildly successful auctions.
Call or email George Huang: legend@legendcoin.com
NEWPS
Yet again the gold that we are posting is selling within minutes of posting. Our supply is near the end. Do not think these coins can be found again anywhere on the market. In other areas we are offering some fantastic coins. Highlights include:
H.01 1845 Restrike PCGS PR66 BN CAC
3CS 1856 PCGS PR65+ CAC
25C 1916 STD PCGS MS66FH CAC
$5 1806 ROUND 6 7X6 PCGS MS63 CAC
We worked really hard to have an offering for every ones tastes and budgets.
Do not forget our regular inventory. We have many great coins that need great homes.
Last week the 25C 1855 W/A PCGS MS65 CAC may not have appeared in the NEWPS even though it was brand new. Thus is a coin that should not still be here after a week. It has both strong color and quality. We priced it extremely fair too (the coin in the FUN sale brought $13,200.00). Check it out!
ALL NEWPS ARE NOW POSTED
BLUE LAKE COLLECTION OF LARGE CENTS
We are now posting ROUND III. Check back often. These are some wicked cool Large Cents!
Highlights include:
1C 1793 CHAIN AMERI PCGS AU53 EX HUSAK
1C 1799 PCGS XF40 EX GERRIE
There are now $1,400,000.00 worth of great Blue Lake Large Cents posted. Many are the best you will buy able to buy for the dates. We’ll work hard to get you in the coins of your desires!
LEGEND RARE COIN AUCTIONS
www.legendauctions.com
BID NOW! Auction week has arrived! Activity to date has been surprisingly strong for this smaller sale. We already have had many bids placed and welcomed many NEW bidders. Our phone bidding requests for the sale are at record numbers! All this is pointing to a very strong sale. So if you need terms, phone bidding, or have any questions, call us now. We leave for Las Vegas Tuesday and will be on the auction cell 732-233-0719 (after 2 PM PST Tue) as well as having the office staffed.
Our buyers fees for our Regency sales remain at 17.5%. NO changes are planned.
THE PREMIER SESSIONS MONTHLY SALE IS LIVE!
We have 112 exciting lots. 75 are CAC! We know you WILL find our sales to be better then all other Internet Only sales. We’re the ONLY company who has real expert bourse floor trained numismatists who assemble and catalog every sale. Our goal is to make our monthly sales mini Regency Sales just with no catalog. We want you to have the ultimate in confidence when bidding with us. We market to and have the top collectors participate in our sales-the pries realized prove that.
We invite you to consign or bid in these sales. Our buyers fee is still only 10%.
This sale closes starting 9 PM Sunday January 28th. We will have these coins in Las Vegas for viewing.
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.
