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.

THE SUMMER FUN SHOW

AN EXCELLENT STATE SHOW

We attended the Summer FUN Show specifically to meet with  a customer. We did not take a table. Our observations were a little surprising.

Dealer wise, it was really a state show with a handful of dealers from out of state. Attendance wise, we were surprised. Thursday seemed to have a bit of a crowd-still nothing to brag about-but in our opinion, it seemed better then the last Baltimore Show which had empty isles. We did sense a small buzz. This did not shock us as the show seemed to want to stay within its means (it was not trying to be like Jan FUN). The worst issues we had w/the show-it was at the far end of the convention center and the humidity outside was off the charts. Yuck!

We did have our stealth seller on the floor. Tuesday morning he said he did well and told us we would be happy. There were so few good coins around, the nicer coins easily stood out. Even at this smaller show, true quality was still in demand. Clearly selling was multiples easier then buying.

Now it is not just the dog days of summer we are all suffering from. We are now seeing the dreaded lack of coins hit. For dealers like us, it can be devastating. Collectors really only pay attention when there is activity-like back at the end of March (a few major auctions back to back, a big show or two, etc). When coins are not really appearing (like now) collectors hibernate. So really good coins can stagnate and actually get hurt until the funk ends. What collectors seem to forget, in many cases (again, like what we deal in), once those coins are sold-good luck finding anything remotely similar.

We are proud that this weeks Legend Auction Regency Sale is the “happening” event so far this summer. There are 515 real QUALITY lots including a few estates and many coins that have been off the market for 20+ years. Since the coins are not in a phone book size sale and we showed them in a few places, we do know there is a real buzz. So far we have seen a record number of NEW bidders register. We think the results will prove out that even in the depths of the summer doldrums, assemble a group of SUPERB coins for sale, and they will be fought over.  We know 515 lots is not near the thousands the big guys do at clip, we do know what we are offering is certainly BETTER then anything since March! Since Long Beach in early June,  Legend has NOT been able to buy anything  special (out side of a few in house deals we got lucky on). In fact, until now, we’ve watched our NEWPS dwindle to the point we are NOT posting anything this week. We do expect to have coins next week (after the PCGS Invitational).

Here is a lesson to be learned: you can have a great single coin that is everything to die for. Unless you there is a specific buyer in mind, it has a real shot of NOT selling. However sell it in a collection or decent size offering-BAM! Not only will it sell, it might even bring a little more money. It goes back to collectors needing to be excited. One coin right now, does not do it.  Sometimes even when the market is on a roll, the same principles may apply (a single coin may not sell strong).

NEWPS

We are out of gas! We told everyone this could happen. The few precious pieces we do have, we are saving until next week.

At FUN, we bought one whopping big coin-a $20 1928 PCGS MS66 CAC. That was it. We must have walked the show 5x looking in every case at everything! Even out friends who carry nicer coins had almost ZERO in stock. They asked us if we had bought coins to sell them.

Legend is for sure buying. The top  2 coins on our Want Lists are: #1 $20 1907 HR WE PCGS MS66 or 67 CAC (ONLY).   Our lives will not be safe until we find this coin (he said something about cement shoes and falling off his boat in Sandy Hook bay).  When we tell you we have real Want Lists, we mean it! #2 1915S Pan Pac Octagonal PCGS MS64 or 65 CAC (ONLY). We could also use a ton of REAL Cameo and DCameo PR Barbers  10C-50C PR66+67 CAC (ONLY). And we are always buying GEM PCGS CAC (ONLY) DMPL’s-the mirrors MUST have strong clarity+depth. If you have something really rare, please offer it to us-our Want List is over $20,000,000.00. NO deal is too big for us to buy!  Contact George at legend@legendcoin.com

AN INVITATION:

Come visit us at the Las Vegas Invitational this week. Even if you are not participating in our sale, you can view the $1 1804 PCGS PR65 Pogue/Morelan coin! PCGS provides great lunches and snacks. Legend will be set up with some great coins to offer. Or offer us your coins! 

LEGEND RARE COIN AUCTIONS

www.legendauctions.com

FINAL CALL FOR BIDS! Thursday night at 4:30 PST time our Regency XXII auction starts to close with a live session. The sale had been building nicely over the last two weeks, but activity has spiked tremendously since yesterday. We even had someone come in to lot view at 7 AM yesterday hoping to beat the brinks pick up (which he barely did).

REGISTER AT THE SHOW FOR OUR AUCTION AND GET A FREE WALK THROUGH COURTESY OF US (COLLECTORS ONLY)! 

Even though we are clearly in the summer doldrums, the coins in this sale WILL NOT be affected. How often do you see coins like what is in the Glacier Rams or the 1994 collections? When is the last time an old holder really nice 92S $1 in PCGS MS64 CAC was offered? This is the last call on the now famous monster Northern Lights collection. We think there will be insane world record prices here. Or look at the $20 1878 PCGS MS64 CAC_a discovery coin never offered before. The list can  go on and on. Don’t expect any coins to slip through the cracks as the market is starved for coins like what this sale is offering (and we have had a who’s who of collectors lot view in our offices).

Contact Julie Abrams: julie@legendauctions, or Greg Cohen: greg@legendauctions to assist you on setting up phone bidding, credit, or help with what ever you may need. Greg will also be happy to describe any coin you need to know about. He will be available in Vegas after 5 PM EST on Tuesday. In fact note; Tuesday is our travel day. Tuesday late afternoon on, we can be reached on out auction mobile line: 732-233-0719. Do not hesitate to call us!

Good luck in the sale!

P.S The July Premier Sessions Internet only sale will be in Las Vegas for viewing. This sale closes July 19th at 10 PM EST.

FINAL CALL FOR CONSIGNMENTS TO OUR AUGUST SESSIONS SALE! So far this sale is looking like a mini Regency Sale (which is our intentions).  MINIMUM consignment-$1,500.00 per lot $10,000.00 total. We will have a lot viewing at ANA.

Take to us now if you have coins or a collection for inclusion in our October PCGS Invitational Sale in Philadelphia!

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

Reply to Market Report