Market Reports

Don't miss an opportunity to make a critical purchase or sale. Let Legend be your eyes and ears on the collection market. We'll let you know about the upcoming sales, pricing trends and predictions, collections and exceptional coins entering the market, and other news to help you take advantage of opportunities before they pass you by.

MIDDLE OF OCTOBER

FEELS LIKE SUMMER TIME BUT ITS FALL

Hard to believe its already the middle of October. We feel like the ANA Show was last week (sort of).

Typically by now the summer doldrums are over. This year, the summer doldrums were very slow to recover from. Only this past week have we seen activity pick up. Between the summer ANA show and today, activity on our web site had been very sluggish. We did unsolicited business, but it has not been as “flowing” as it usually is. This week (from last Saturday on), activity has been very strong. We had tremendous interest especially on the Bust Gold we posted (Early Gold is probably the one of the strongest areas in today’s market). The highlight of the week was that we sold the 1C 1794 PCGS MS66+BN ($225,000.00) to a long time Legend customer who we are helping to build a marvelous pre 1800 Type set for. He had been thinking about it after seeing it on the web and decided the timing was now right. We sold many other odds and ends off the site as well. Our sales for the week from the web were close to $500,000.00-with an average price per coin of $19,000.00! In addition, our private sales were well into six figures-those sales had never slowed. Plus, our stealth seller was selling lots of smaller coins (less then $2,000.00 each) at a small show. So in all, it was a very good week for us.

We are surprised that the Bust Halves we posted weren’t all sold immediately. These are some really rare and fresh coins. Until this past summer they were hot sellers. But then with over 200+ better pieces hitting the market since the ANA Auctions collectors need to digest them. Its funny how some series ebb and flow with demand. The fact these coins did not sell immediately does not diminish their value. Once the Halves finally do find homes you won’t be able to find any thing similar again.

Yet again, we must stress how cheap the rare coin market is overall. Other collectible areas that are not as liquid still have not had their bubbles fully burst. We strongly believe the rare coin market has and that we are the very bottom. Prices for really good coins are not stupid cheap any more. Although prices for dreck are still falling a bit. It is hard to find the really great coins at all. If a major choice/GEM Collection of anything were to appear on the market, we assure you, collectors will scramble and fight hard for every coin. You won’t see weak prices at that time. Think about this, when was the last time you saw a GEM Proof 66-67 Barber Half Collection sold? Piece by piece right now these have been spanked hard by the market. Selling singles of them does not generate excitement for what ever reason. Put a nice pretty FRESH set up for auction, and BAM! Its a different story-the prices will be near “moon” money with lots of bidders (its actually a phenom of the market).

Buy for tomorrow today. You will do well over time.

NEWPS  

This week we have yet another exciting group of NEWPS. Nothing out of this world crazy rare, just great looking high end quality pieces. This weeks highlights include:

H.10 1797 15 Stars PCGS MS64 CAC

10C 1909 PCGS PR67 Cameo CAC

$3  1879 PCGS MS65 CAC

$10  1907 NM PCGS MS66+ CAC

Of course the offering includes many different coins for all tastes and budgets. We’re especially proud of the quality in our offering.  Do not forget to check out our regular inventory offering as well. There are some great coins-like the Bust Halves that still need to be placed in great collections. ALL of our coins are priced realistically at the current market levels-typically based upon what we paid.

ALL NEWPS WILL BE POSTED BY EARLY SATURDAY AFTERNOON.

LEGEND RARE COIN AUCTIONS

www.legendauctions.com

BID NOW IN THE OCTOBER SESSION I SALE which closes October 18th at 10PM EST!

OCTOBER SESSIONS II NOTE: this month we will have TWO Sessions Internet Only Sales. The next one called the “Crazy Sessions” consists of all the odds and ends we get that don’t qualify for the Regency Sales. Included are some Moderns, toned Ikes, GSA CC Morgans, group lots, original BU silver rolls, and single coins valued at UNDER $1,500.00. The second sessions sale will run October 23-30th. We expect to have a list posted mid week.

We can’t tell you how busy we have been processing consignments for our November Sessions Internet Only Sale and our December Regency Sale. Here is a sample of what came in just today for our Regency 19 Dec sale (as this Market Report is being written):

1C  1914D PCGS MS66RB CAC

25C  1896 PCGS PR69 DCAMEO

50C 1808/7 PCGS MS64

50C 1949S PCGS MS67 FBL CAC

$1  1880S PCGS MS68+ PL CAC

$1  1880CC PCGS MS67 CAC OGH

$1  1891CC PCGS MS66 CAC

$2.5  1913 PCGS MS66

$5  1863 PCGS MS61

We have many other great coins consigned to our December Regency Sale already. Including:

The incredible Angel Dees GEM toned PCGS MS65-68 Buffalo 5C set

The Young-Dakota Proof Barber Dime Collection PCGS PR66-68 ALL CAC

Duplicates from the Cheyenne Proof Barber Quarter Collection PCGS PR67-68 Cameo ALL CAC!

$1  1795 SE PCGS MS65 CAC

A partial $1.00 Morgan CC Set (no 89CC) all PCGS MS64+-67  ALL CAC  Including a very rare Capped Die in MS65!

Group #2 of the Northern Lights Collection of MONSTER toned Morgan Dollars ALL PCGS CAC

The results we get are PROVEN. Consign now as space is very limited and is shrinking fast! Contact Julie Abrams (julie@legendauctions.com) or Greg Cohen (greg@legendauctions.com).  GENEROUS cash advances ready!

IF YOU HAVE ANY QUESTIONS OR WISH TO ORDER, EMAIL US: legend@legendcoin.com. WE DO NOT CHECK OUR PHONE MESSAGES UNTIL MONDAY 9 AM.

 

 

 

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