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Posted: June 17, 2017 08:38 AM EDT| 1 Reply
ANOTHER GREAT SALES WEEK
We think we know why we are selling so much-we have had the goods the past 30/60 days. As we mention last week, once we are pretty much sold out, our super hero status will be gone. We’ll be crying as loud as any one. This past week was another record breaking sales week in line with our record breaking first half of the year. We sold well over $500,000.00 direct to collectors.
Some highlights of sales this past week were sold soup to nuts: H.01 1845 PCGS PR65RB CAC ORIGINAL, 1C 1909S VDB PCGS MS66RD CAC, 10C 1906 PCGS PR67 CAMEO CAC, 20C 1876 PCGS PR65 CAMEO CAC, $1 1879S PCGS MS66DMPL EX JACK LEE, $1 1892 PCGS PR67 Cameo (we could have sold 4), a stunning $20 1914 PCGS MS66 CAC, J-1425 1871 PCGS PR66 Cameo CAC (R-8). Those coins were just the ones we would mention! If you noticed, last weeks NEWPS were being bought as fast as we listed them. We do not mention all this to brag, we are showing full proof of how OUR market is doing. There are a lot of other dealers not doing so well and they wonder why.
As much as people do not want to hear it, demand for the CAC bean is as strong as it ever has been. PCGS CAC combined are unquestionable the ultimate in liquidity. Would you want to be the buyer of this coin: We just witnessed a coin sell in our our May auction in an NGC holder (NO bean) for $5,288.00. The coin is now listed on a dealers site in a higher grade NGC holder (definately NO bean) for $29,500.00 (apparently the original ask of $59,500.00 was a mistake). Buying CAC avoids being trapped in a coin like this. And it DOES save you from buying doctored coins. We can always argue about grading in any service at any time. So as much as some people in the clear minority might growl over those statements, our sales have only grown even stronger because of PCGS CAC. It does help to be educated buyer. We are NOT saying not to buy non CAC coins either , we are just discussing what we see from OUR position in the market (before all the boo hoos on the chat rooms get ready to flame) .
Legend is NOT forecasting a strong Baltimore Show. There are not many cool coins round and the auction is sort of a yawner. If you recall the last Baltimore Auctions were some of the best ever-the show was great for many also. Plus, this show we do not expect many of the West Coast dealers to attend.
In the end, the market will have its short terms swings. However it is crystal clear you want to buy the better coins whenever you can. Even if it seems like you are paying a premium during these summer doldrums, you are still getting a some what discounted coin. If the coin were to be offered when more coins are around later this year it probably would be 10% minimum more.
Over the years, the smarter buyers have learned and proven not to be cheap on a great coin. You pay the premium to buy the great coin and hold (at least 5 years), that is what makes a coin grow in value. In the end, it IS and always will be about the specific coin.
A CLARIFICATION TO LAURA’S RETIREMENT
The original announcement was no joke or cry for attention. However, due to George Huangs bad heart attack, the semi-retirement had to be delayed. Now that George is feeling better, the semi retirement starts July 1!
To date this year, Laura has done more then 100,000 miles on planes plus attended 10 shows (not to mention traveling to see customers). When your scared to death of flying like she is-that is 100,000 miles way too much. That is the biggest thing that will be cut down (she will always go see customers tho). She will do LESS shows, and when she does a show, she might leave early (especially since most of her work is done early). Note: you will still see her at all the major shows. She’ll be working fewer hours in the office too.
On the auction side, she might skip a sale or two as they have hired a new top gun manager (Serena Meyers) and has a very capable and competent staff. They also have Greg Cohen a real full time numismatist-not many other auctions companies do. Laura will still go over every coin submitted for sale and is still available for all questions.
Hope that made it it all clearer. Laura is NOT fully leaving-yet. However she is really going to be cutting back on her work load and some travel.
This week our NEWPS are off the chart! Lookie at what the grand highlight is:
A MATCHED ORIGINAL $2.5-$20 1902 Proof Set PCGS PR65-67 ALL CAC.
First, good luck ever finding any GEM 1902 Proof Gold. Then good luck on EVER finding a matched original Proof gold set of ANY date-especially fully PCGS CAC! This set is the opportunity of a lifetime!
Other highlights include:
2C 1873 CL 3 PCGS PR65 RD CAC ex Troy Wiseman
5C 1912S PCGS MS66 CAC
50C 1807 DRAPED PCGS MS 64+ CAC
$1 1870PCGS PR65 CAMEO CAC
$2.5 1829 PCGS MS64 CAC
And those are just some of the highlights.; As supply grows thinner over the summer, you will find that just about every coin we posted will be better then another dealers highlights!
ALL NEWPS FOR THIS WEEK ARE NOW POSTED
Do not forget to check out our regular inventory as well. We do have great handpicked quality coins with great eye appeal too!
CURRENT WANT LIST
Since we bought NOTHING last week on your Want List we posted, we decided to run it one more week;
We are aggressively seeking ALL PCGS CAC ONLY Cameo and Deep Cameo coins in 65 and higher. We will still look at NGC coins, but our acceptance rate is low and CAC is a must. We have several collectors now building Choice and GEM PR Liberty Seated 10C-$1 sets, plus of course ALL Proof Barbers, and Seated/Trade/Proof Morgan Dollars (the dollars can be PR64 and higher). Sorry we will NOT tolerate ANY haze, spots, or cloudy toning. The mirrors must be clear. We pay top dollar for real Cameos and Ultra Cameos.
Like everyone else, we need $10+$20 GEM Proof gold 65 and higher. Here too, no haze in the mirrors. Will take Matte Proof $10+$20 too PCGS CAC ONLY.
Still need that $20 1907 WE High Relief in 66 or higher. HELP please our customer is getting slightly grumpy!!! MUST BE PCGS CAC ONLY. In fact, we will take two!
LEGEND RARE COIN AUCTIONS
The big event of July is NOW posted! Our July Regency Sale is now online and is open for bidding!
We invite you to review this incredible quality sale.
The July Sale WILL be in Baltimore and will be available for lot viewing there. Even if you do not plan on bidding-it is a must see! The quality and freshness are unrivaled in all the other auctions coming up through the end of July!
We will also be having a July monthly sale tagging along with it.
If you have any questions, need to lot view, set up phone bidding, or need terms, contact us now. Julie Abrams: julie@legendauctions, or Greg Cohen greg@legendauctions are ready to assist you!
Make your plans to attend the July Auction in Las Vegas at the PCGS Invitational. The famous Dexter/Morelan $1 1804 will be on display. Plus, we will be giving out vouchers for one free walk through at PCGS to ANY collector (no dealers) who register and bids in the sale July 13th. These Invitationals are great shows-we invite you!
P.S Our June Premier Sessions Monthly sale was another HUGE success!
IF YOU HAVE ANY QUESTIONS, OR WISH TO PLACE AN ORDER, PLEASE EMAIL US: firstname.lastname@example.org. WE DO NOT CHECK FOR MESSAGES UNTIL 9 AM MONDAY
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