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.

OMG ITS AUGUST ALREADY!

TYPICAL SUMMER ACTIVITY

Can’t say the coin market matched the sizzling hot temperatures we suffered through this past week. However, even though things had been slower, we still managed to sell a lot of generic gold to several customers. It was kinda weird how it all happened. We sold coins off the web, then people called and emailed us to ask what we had. In total, we sold well over $250,000.00 worth of $5 Indians MS64-65 , $10 Libs MS66, and of course Saints in MS66. On Friday gold shot up $17.00. Congrats to everyone who apparently has ESP!

We think as more people return from vacations the market will perk back up. If there are coins you can buy now-DO SO! You will be saving some money.

WHERE ARE ALL THE COINS?

Late this week, we flew out to see one  of the biggest wholesale dealers in the biz. We typically get first shot, but figured we could do our shopping early and have more time to see others at the upcoming ANA Show.

We figured we’d spend a few hundred grand overall (typical for us and them). They like to start us with their HIGH VALUE box. . We were totally shocked the HV box was nearly empty. They said they had some strong sales in July which wiped them out (during that spurt when gold was running up).  They were crying how they could NOT replace anything. We thought okay, its just high value. Forty boxes later, we had made our smallest group of purchases in years from them. Really wasn’t worth the trip-although it was an eye opener about what the ANA show could hold for us purchase wise.

Where are all the coins? The really good coins, are in deep pocketed collector cabinets. As we have been saying, you we see NO Pogue, few Gardner or Newman coins floating around still for sale. With the market off from the 2008 highs, few people even want to sell their duplicates these days.  No other major fresh collections have hit the market save for a small one in the last Long Beach Sale. So all that is pretty much left at shows are retreads and dreck. Even the ANA Sales are somewhat boring this year.

This is why we have been telling everyone-BUY GREAT COINS TODAY AND PAY THE PREMIUMS. You can NOT replace them. Especially better gold, DMPL Morgans, all Bust coins. We have been on a huge hunt for even common date and better DMPL’s all year, we’ve purchased less then a dozen coins so far (our version of a real DMPL is one with full 8″+ NON hazy mirrors). A note: a HUGE amount of DMPL’s are off the market-in Japan. In the late 90’s and early 2000’s there was a huge telemarketer from Japan who bought up mostly CC’s and any thing nice (he demanded full black and white mirrors). They also bought huge amounts of GEM Proof Gold. We have seen very little of it come back home.

Our Want Lists are still $20,000,000.00 + (someone please sell us a $2.5 1808 PCGS AU+ CAC and a $5 1911S PCGS MS64 or better CAC ONLY). Some coins should not be that hard to find-but they are because we want QUALITY.

We’re working hard to keep our inventory loaded with wicked cool coins. Some people think we pay too much-we do not. We pay what we know to be current market. If you want to buy cheap, we can tell who the dealers ware who can’t get past printed numbers-know that you will NOT get anywhere near the quality we handle.  When you go to sell down the road, you will see the difference that real quality does make!

VISIT US AT TABLES 504-508 AT THE ANA SHOW

NEWPS

With ANA around the corner and our NEWS being low, this week we have a smaller offering. Its a powerful offering though, we have some remarkable POP 1/2 FINEST known Half Dollars to offer.  In our opinion, many of these coins (and MOST better Seated coins) are grossly underVALUED today. They got spanked too hard in the past year. Highlights include:

50C 1856S PCGS MS64 CAC  Ex Eliasberg  (this is the coins first real public appearance)

50C 1858S PCGS MS66 CAC NORWEB FINEST KNOWN

50C  1861S PCGS MS66 CAC

Of course there several other great  NEWPS being posted (like the 25C 1860 PCGS MS66+ CAC). Do not forget to check out our regular inventory as well. Since we’ve been suffering from the summer doldrums, we have not been picked over! There are still many great coins to choose from. We highly doubt they will be there when we come back from ANA!

ANNOUNCING THE BEL AIR MS SEATED DOLLAR SET FOR SALE

Legend Numismatics is proud to announce we will be offering for sale at the ANA Show the Bel Air Collection of MS Seated Dollars. We helped build 90% of the collection (he started it then came came to us). The set is for sale ONLY as a set. There is no 70S. ALL of the coins are PCGS with the majority CAC’d. The set ranges in grade from AU58 to MS65. The quality of each coin is all there and then some. You can see the set posted on the PCGS Registry as #2. It is quite an impressive set.

Come by our ANA table and see this set and about $5 million dollars worth of the very BEST PCGS CAC pieces for sale on the floor. With supply so low, we expect strong sales early!  We’ll make you a great deal.

GET READY FOR THE ANA SHOW NOW!

We leave Friday Aug 5th for the show. Very last call for auction representation, Want Lists, sell or consign your dupes, etc.  Contact George: legend@legendcoin.com to discuss your needs. Or we will see you there at our tables 504-508!  WATCH FOR SOME DAILY EMAIL ONLY SPECIALS! 

LEGEND RARE COIN AUCTIONS

WOW! From a humble start just 3 years ago with less then 300 coins in a sale, to today with us getting fabulous consignments worth hundreds of thousands (and a few million like the Coronet Morgans), and selling a coin for $1,880,000.00, WOW have we grown! For Regency Sale 18, we are breaking records with consignments already in house. If we were to stop taking consignments today, it might very well be our BEST sale EVER!

Legend Auctions just received a small group of consignments from a a couple of long time collectors and dealers of coins that left  us even breathless! Highlights of this group (soon to be named) include:

1C  1887 PCGS MS66+ RD CAC

5C  1884 PCGS PR67+ CAMEO CAC

5C 1891 PCGS PR66+ DCAMEO CAC

5C  1915 PCGS PR68 CAC

10C  1916D PCGS MS66FB

50C 1939D PCGS MS67+ CAC

$1  1903O PCGS MS66+ PL CAC

G $1  1858 PCGS MS69

$2.5 1901 PCGS PR69 DCAMEO

$3  1870 PCGS MS65+ CAC

$5  1902S PCGS MS67+ CAC

50C NEW ROCHELLE SPECIMEN PCGS SP67+ CAC

LEGEND RARE COIN AUCTIONS WISHES TO ANNOUNCE THE CONSIGNMENT OF THE WESTCHESTER CC MORGAN SET PCGS MS63-MS68 FOR OUR SEPTEMBER REGENCY 18 SALE! Hightlights: 81CC PCGS MS67 CAC, 1889CC PCGS MS64, 1892CC OGH PCGS MS66 CAC! 

We’re still pinching ourselves about what has arrived in our offices in the last 24 hours-and there is even more to come! These coins are in addition to the Northern Lights Collection of toned Morgans (see the outrageous booklet on the front page of our web site to see ALL the Northern toners), Phil Flannagan, Lionel type Collection, the UNOPENED GSA CC’s , and the #8 Franklin set we already have in house. More spectacular consignments will be announced soon.

Our absolute cut off for Regency 18 is August 12th-NO exceptions. In fact, we had to close out Summer Sessions III sale early as we were actually being overwhelmed. We could have had a 150 lot sale-but we didn’t like a lot of what we were getting. We’re staying true to our roots of being a quality boutique. Summer Sessions III is 115 lots.

GO TO OUR WEB SITE TO SEE THE FULL LIST OF THE LOTS IN OUR SUMMER SESSIONS III SALE

If you have coins you wish to put in the Regency 18 sale, please contact Julie Abrams (julie@legendauctions.com) or Greg Cohen (greg@legendauctions.com) asap. We are not kidding when we say space is very limited and the lots are filling up fast. Generous cash advances are available. We promise, your coins WILL be seen by the biggest and BEST buyers!

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

Reply to Market Report