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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.
Posted: November 12, 2016 08:11 AM EDT| 0 Replies
LET THE FLOW BEGIN
We were relieved to see activity continue at a good pace this past week. Of course gold still clearly leads the way.
To answer so many questions we had last week: With Trump being elected the rare coin market has seen NO major changes, nor do we anticipate any in the short term. We have talked to several Wall Street big wigs and bankers. Their general feelings are money will be unlocked in businesses thus leading to profits, thus leading to more income and bounses for the masses. So eventually there will be more money looking to park itself or just available for fun. No question the rare coin market certainly will be attractive. In our opinion, its just a matter of how long it will take. We can see things really start improving by the early Spring.
ALL THAT GLITTERS IS S GOLD
Gold coins have been attractive recently because there are a surprising amount of NEW collectors. They tend to go to gold because that’s what it is and they feel comfortable buying a bigger coin like a Saint for thousands vs a copper/nickel or even a Half Dollar.
We know for a fact, that since July there has been one buyer who had probably spent $40 million dollars-yes you read that right. There a few other collectors (and yes, they do really collect) that we know of who have also started million dollar projects-ALL gold since the summer as well. They all are new and have come in and are spending top dollar buying trophy or top rarity coins when they can find them. One collector is out there buying up entire collections! Back in June we were worried which way the market was going. We only saw two established people building Saint Sets in GEM. Today, we know of 4 and heard whispers of 5th! Good luck on the 21,27D+S’s guys! We pretty much “stole” the FINEST $10 1933 PCGS MS66 CAC for UNDER $1 million in June. If that coin were for sale today, it would have easily cost us the $1,200,000.00 we originally expected to pay. It all changed that dramatically since July.
In a blink, the entire upper end of the gold market changed over the summer. These new players are only just beginning too. One thing they all have-extreme confidence in the coin market. They all have told their dealers they think coins are cheap. We spoke to a few and they are also having fun.
Dealers are regaining better cash flows because of this. It all makes for a better coin market-FOR EVERYONE (even if they do not buy gold coins)!
We still advise people to collect and build Gold Type sets. Also, buying any generics today (PCGS CAC) won’t hurt either. The supply of true choice/GEM unmolested gold is super scarce.The last place you really want to buy generics is at auction. Remember, auctions are races to see who will pay the most. Dealers will offer you generics at cheaper premiums usually. Most rarities now pop up only at auctions. Over the years we have seen it proven you have to overpay to get the greatest coins.
We’re running out of NEWPS! As we mentioned, buying at Baltimore was extremely difficult. Back home our flow of NEWPS suddenly dried up too. We assure you, its not for lack of trying or how much we are willing to pay.
Our two NEWP hightlights are actually old friends:
3CS 1851O PCGS MS66+ CAC Tied for finest known. We sold this coin a few months ago and saw it on the market last week. Could not pass this coin up! In our opinion, this coin IS the FINEST 1851O graded. Eben if you don’t buy 3CS pieces, this coin is one heck of a ‘put away” piece.
$1 1841 PCGS PR63 CAC Ex Starr. This coin failed to sell in our October Regency Sale. Its one of ONLY 2 1841 Proofs for the date graded by PCGS. The owner asked us to try selling it. He has moved on to other areas of the hobby. We actually were stunned it did not sell.It has a price history higher then what we are asking (and it should be priced even higher in our opinion)!
Of course we have several other neat pieces for your consideration. Don’t forget to check out our regular inventory as well. If you wish to order or have any questions, please email George Huang: email@example.com
ATTENTION PATTERN COLLECTORS
Next week we hope to have a small selection ready of some of the FINEST ever Standard Silver Patterns. These coins are crazy out of this world pieces. All coins are be PCGS CAC graded. They range from Cameo to incredibly toned, H.10-50C. We won’t have any list available until next Thursday. Just giving everyone a heads up.
ALL NEWPS ARE NOW POSTED
LEGEND RARE COIN AUCTIONS
Our November Sessions Sale is now open and accepting bids. As usual we are off to a very strong start. Remember, these are not junk/blow out sales. EVERY coin included is handpicked by TWO world class bourse floor credited numismatists. We DO reject coins! So bid with confidence!
THE DECEMBER REGENCY SALE
We are so inching closer to having the lot list posted this week for the upcoming Demember Regency Sale. We were so proud of our October Regency Sale, this sale will be stronger! Its a whopping 514 lots of pure numismatic delight.
Even though in our opinion, EVERY coin should be a highlight here are a few random ones:
The Angel Dees Toned Buffalo Nickel Collection
The Young-Dakota Proof Barber Dime set
Round II of the Northern Lights Toned Morgans
A killer partial GEM CC set (all placed by Legend 2000-2006)
1C 1798 PCGS MS64BN CAC
1C 1914D PCGS MS66RB CAC
1C 1916 PCGS PR66RD CAC
5C 1916/16 PCGS MS64 CAC
10C 1853 PCGS MS68
10C 1896O PCGSMS66+ CAC
10C 1898O PCGS MS67+ CAC
25C 1876 PCGS PR67 CAMEO CAC
50c 1820/19 PCGS MS65 O-101
50C 1918D PCGS MS65+ CAC
$1 1795 PCGS MS65 CAC EX LEGEND COLLECTION
$1 1880S PCGS MS68+PL CAC
$1 1890cc TAIL BAR PCGS MS65 CAC
$2.5 1913 PCGS MS66
$5 1863 PCGS MS61
$5 1866S NO MOTTO PCGS AU58
$5 1913S PCGS MS65
$20 1863 PCGS AU58
There is also a small group of fresh and gorgeous 1C 1858 Indian Patterns
There are so many more incredible quality and eye appealing coins to mention. We’ll have a listing up this week. If you are a little short on cash but see coins you need-contact us! We offer friendly terms.
As you have now clearly witnessed, our boutique auctions bring every bit as much or more then the big phone book type sales. Your coins ARE seen by the top collectors/buyers in the market today. Generous cash advances are available!
Legend Rare Coin Auctions is now seeking consignments for:
December Sessions-consignment deadline: Nov 28th.
January Sessions-consignment deadline: Jan 4th
January Regency Sale-consignment deadline: Dec 1. We already have a really cool anchor collection that we will announce shortly!
If you wish to consign, contact Julie Abrams: julie@legendcoin or Greg Cohen: greg@legendcoin. They will work with you from start to finish in addition to crafting you the very best deal possible!
IF YOU HAVE ANY QUESTIONS OR WISH TO ORDER, EMAIL US: firstname.lastname@example.org. WE DO NOT CHECK OUR PHONE MESSAGES UNTIL 9 AM MONDAY
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