LEGEND NUMISMATICS WILL BE AT TABLE 1001 AT THE CSNS SHOW
TIMED IT REALLY RIGHT
It only took 40 years in biz to figure our every April things slow to stop around tax time. This year we semi took off for the first two weeks of April. We even went to the Long Beach Grand Prix and got our pics snapped with Mario Andretti (and Laura who is trying to fly much less broke 2,000,000 miles on the way there). Besides the off the chart coolness factor of meeting the real legend, our phones and emails were just not happening. This was not a surprise and we know we were not alone. In fact, many of our peers were moaning April will be a “give back” month.
The entire time of our travels to Las Vegas and Long Beach we had been working on 2 world class deals, one was $2.8 million and the $5 million. The $5 million dollar just could not happen. And the $2.8 million dollar deal was split up and we were able to spend $1.2 million on what we really wanted. Because of that one deal and two others we picked up in the past 2 weeks, we knew our potential was huge. With no NEWPS posted Monday we were itchy to do something. We did sell a few smaller coins-and the $10 1867S PCGS AU58 (the finest) did find a perfect home. It was not until Thursday afternoon when we started making sales-HUGE sales. By the time 4:30 Friday came, we had sold just over $1,600,000.00 for the week! WOW! The strong market is back on-at least for us. The really scary part, we have not started really offering the deal coins we picked up earlier this month!
We are highly confident break time is over for everyone and the market will continue on its impressive positive run. Our biggest fear is selling out in April and being bone dry for May. The CSNS Show this upcoming week will be a good barometer between all the wholesale activity and the auction. Our “super secret stealth seller” is happy his appointment book is already jammed for the show. He has been on an all time record tear of sales this year.
Late addition: the typical marginal Sunday Night Internet sales (4/22) actually performed strong this week. Seems collectors are back for sure!
OUR MARKET WANTS QUALITY
The coin market is really huge. Thanks to the internet and places like Ebay ever expanding the market, the black hole of where coins go has become as big as ever. In our orbit, quality rules. For those who demand it, they know how nearly impossible it can be to find great coins. We are feast or famine every day. To buy a great coin we have to pay too much and suffer with tiny margins. After a great coin gets sold, we either can not replace it or we’d have to pay more to get another. Tough dance. BUT we can say this for sure, when a really SUPERB GEM comes up, we can sell it over and over very fast.
Quality is irreplacable these days. You only get one shot at the better coins. The problem, too many people are NOT buying the real quality still and end up hurt.
We still need to send the message that a coin is either all there or it is not. If it is not, the price radically drops. Nothing pains us more then the new breed of dealer today who are out there hawking inferior plastic in their glitzy web sites. Give a coin a good description and image and collectors will bite. Time after time, those collectors get burned. Yes, here comes the CAC speech again. We’re 10 years in now with CAC operations and guess what, it is NOT a fad like a few major dealers try and claim to their customers. The CAC coins are highest quality every time and have more been proven of that in the market place by the prices realized. Recently, we have seen horrific losses from retoned PR Indian Cents, some big Type coins that were simply over graded, and of course we always see collectors who own lots of bad gold. Stop the madness!
The easiest test about a coin or a dealer, why is the piece not CAC? They can have many BS excuses they want. It is 1000% PROVEN that you get the most money for a CAC coin. Any dealer with any brains would have every coin they own sent in for the bean. If your dealer makes and excuse or won’t let you send in a coin, run-don’t walk away!
Our market is PCGS/CAC and handful of NGC/CAC coins. We do this for our customers protection. In one of the big deals we just bought part of, there was a non CAC group of coins. Everyone out side of the sellers is giggling because those coins won’t sell anywhere near the fantasy prices they are trying to get-if they have buyers at all (most of the coins are over graded). A quality market is just that-QUALITY. Hence our motto: “there is no substitution for quality”
The good thing is many collectors-especially the new mega money breed understand quality and will pay up. They want the best they can afford. Demand for CAC coins has never been stronger. It is our strong opinion, the overall higher end quality market has unlimited potential because of the current and ever increasing demand. Think about this insurance, PCGS, CAC, and Legend approving a coin. Seriously, there is NO better group than that.
NEWPS
Finally! We have 20 or so handpicked fantastic NEWPS. We consider every coin highlight worthy. The really out of this world highlights include:
1C 1899 PCGS PR67+ RB CAC
10C 1879 PCGS MS67+ CAC
50C 1901 PCGS PR67 CAMEO CAC
$1 1863 PCGS PR66 CAMEO CAC
G $1 1861 PCGS MS67 CAC
$10 1914 PCGS MS66+ CAC
What a group of NEWPS! Next week we will have some unbelievable killer PRE 1800 Bust copper/silver coins (from a set we built many year ago). Plus, we will have our CSNS NEWPS to offer (assuming we can buy there).
ALL OF OUR NEWPS ARE NOW POSTED
LEGEND RARE COIN AUCTIONS
www.legendauctions.com
WE HAVE TWO LIVE SALES NOW: OUR APRIL PREMIER SESSIONS AND OUR HUGE MAY REGENCY SALE. CHECK THEM OUT!
Both sales are enjoying record registrations and record bidding already! The coins in the sale are real high end quality-many of which have been off the market for years. Visit our web site to learn more and or participate!
Our Premier Sessions has superior handpicked coins and blows away the shoddy typical Internet Auctions you see. It is our mission to make our Premier Sessions sales the very BEST in the biz. These are NOT low ball blow out sales!
NOTE: we will NOT have the Regency or Premier Sessions sales coins in Chicago. We will bring them by request only. ALL requests MUST be emailed to us by 10 PM Sunday night. We will be holding an additional lot viewing in NYC May 4th by RSVP only as well as in New Orleans before the sales.
We accepting consignments for our May Premier Sessions Sale and our July Regency Sales. We already have some incredible coins consigned! Contact Julie Abrams: julie@legendauctions.com or Greg Cohen: greg@legendauctions.com. They will craft a deal that is best suited for your needs.
IF YOU HAVE ANY QUESTIONS OR WISH TO ORDER, EMAIL US: legend@legendcoin.com WE DO NOT CHECK FOR PHONE MESSAGES UNTIL 9 AM MONDAY
