TIME TO BOARD!
Guess the long train trip we took this past week to visit a customer rubbed off on us. The coin train is now slowly leaving the station. Station stop: New Orleans next week. Both Legend and Legend Auctions will have a full staff at the show.
As expected, activity is coming back one coin at a time. We had several five figure orders off our web site. No one called us to offer us coins (two weeks ago we were offer 2 GEM High Reliefs-something we had been looking for all year). For us, this past week was a “dust up” week in terms of seeing collectors and doing a lot of paperwork.
Dealers were busy setting up appointments for the upcoming PCGS Invitational Show next week in New Orleans. We believe that even though it is not a major show, this show will be a good barometer of the market. With no major show since Long Beach well over a month ago, and no major show until Baltimore in a month, many dealers need to do business. We’ll see just how much business there will be to do. We know our “super secret stealth seller” already has an impressive group of appointments.
We fully expect our auction in New Orleans to be super strong as well. In fact, we predict it will be so strong, it will ignite the market though Baltimore. It is the only auction so far this year that is 100% true quality and does not include everything and the kitchen sink!
PLUS BUYING
To Legend a + means a coin is virtually the next grade, has dazzling attributes, and great eye appeal. We do buy MANY coins that we consider +’s that do not get graded as such (which is very frustrating). We have more then 40 years of bourse floor experience and know how to grade very well.
There will be times when we pay a small fortune for a coin with no +. We buy our coins based upon the coins themselves, NOT the holder. We recently had a customer quiz us as to why when a + got added on a dupe of his we sold, we didn’t get a ton more. That was because we had already paid the + money and the + only validated what we paid. We stand by what we paid and we had not overpaid. The notion that any + nearly doubles a coins value (even if you paid a lot) is ridiculous to us. Also, the notion that a coin with out a + can not be a + or valued as one (see the MONSTER 1850 $20 PCGS MS64 CAC in our auction that we tried once for a +, its easily worthy of a + price) is ridiculous as well.
When your dealing with FINEST known’s and the coin is a monster, then you will be paying as much as double for a +. But if he coin is a widget that is just nice, expect to pay 30% or so more over a regular price. We do not think a marginal + should be worth anywhere near the top. In the end, it always has been and always will be about the coins themselves, NOT the holders!
Our feelings are the + are a needed grade. However, you still have to judge the coin itself (sorry we can not say that enough). Keep in mind, there are MANY coins denied a + for no real reason (like the $20 1850 we mentioned before) and those coins are worth far more then the base grade too. Then you also have the coins that don’t deserve a + that have them (we won’t go there-but we do see them at an alarming rate). Ah the complex world of coins grading and coin values.
The + grades are here to stay. If you buy better coins, be prepared to see the price points expand so long as the + is warranted. That is our opinion. Do your self a favor-WORK with a capable dealer who can grade! You’ll be relieved of serious frustration on many levels.
ATTENTION EARLY BUST AND RARITY BUYERS
Legend Numismatics will begin offering a once in a life time group of GEM MS EARLY (PRE 1800) BUST coins starting the November 1st. There are copper, silver, and a few gold coins included. The grades range from AU53-to MS67 and ALL coins are PCGS CAC. The majority are the finest graded and are pop 1’s. We are combining 2 MONSTER collections along with some fresh (and we mean fresh as in most people probably did not even know these coins existed fresh) pieces. The majority (but not all ) of these coins are valued at six figures and higher. No question this is a knock out multi million dollar offering you won’t see ever again (once the coins are sold). We take extreme pride in making this unique up coming offering. These are NOT dupes or extras from collections(save for maybe 2 coins). NONE of these coins will be sold via auction. Terms will be available. Be prepared to be WOW’d!
NEWPS
We’re a little light again on NEWPS. We still can’t find the $1,500.00-$5,000.00 we so crave. So please do not think we want to just sell bigger coins. We want to service every coin collector possible!
Highlights from this weeks NEWPS:
25C 1860 PCGS MS67 CAC THE FINEST POP 1
G $1 1855 PCGS MS65 CAC
$2.5 1894 PCGS PR66+ DCAMEO CAC
$20 1876 PCGS MS64+ CAC
What a group of coins! You will NOT be disappointed with the quality and eye appeal of any of these listings.
Do not forget to check out our regular listings. We have many wonderful coins that deserve to be in great homes/collections like yours! We’ll work hard to make that happen.
NOTE: our office will be unattended Wed-Friday as we will be in New Orleans. We may be reached via email during that time. legend@legendcoin.com. Do not hesitate to contact us if you have any questions.
ALL NEWPS ARE NOW POSTED
LEGEND RARE COIN AUCTIONS
www.legendauctions.com
This week is it! Our highlight auction ends this Thursday night with alive session in New Orleans starting at 4:30 CST. Be sure to be prepared.
Any questions, please call or email the auction company: 732-935-1168.
EVERY coin in this sale was handpicked and placed in the collections include by Legend Numismatics. How many sales have their ever been where you do not have to think twice about the quality? We recall only Naftzger and the Gardner duplicates (he never upgraded his original coins). This is NOT a sale for bargain hunters!
Good luck!
IF YOU HAVE ANY QUESTIONS OR WISH TO ORDER, PLEASE EMAIL US: www.legend@legendcoin.com. WE DO NOT CHECK OUR PHONE MESSAGES UNTIL 9 AM MONDAY
