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Posted: November 3, 2017 06:15 PM EDT| 0 Replies
VISIT LEGEND NUMISMATICS AND LEGEND AUCTIONS AT THE BALTIMORE SHOW TABLE 643
WHAT A WEEK
Legend Numismatics probably had one of its best weeks since April when we had an all time blockbuster week. It started with a trip to Dallas (Heritage) to lot view and bid in the Newman sale and ended with our President, Laura Sperber actually playing tennis in FL Friday with both Chris Evert and Martina Navratilova (and remaining on her feet, and yes, even scoring a point)!
Sales at the office were slower until the end of the week. Sure enough, we usually have a decent sale on a Friday and this time it happened to be that incredible 1830 PCGS PR62+ CAC Bust Half we owned. Sadly, we did no Want List Sales all week, as we could not find anything out side of the auction. Still we can say our sales for the very first few days of November were incredibly strong.
ANOTHER IMPORTANT QUESTION WE WERE ASKED
A long time and knowledgable customer of ours asked us “is the coin market down”? Our replay: ONLY the dreck and non CAC coins are (unless they are fresh) have fallen and are still falling.
We told him our auction proved there is a strong market for quality, and watch what the Heritage Auction was going to do (which sure enough -it was super strong). Even the non Newman part of the Heritage Sale went somewhat crazy-FOR THE NICE COINS. We got shut out on many-and we are highly aggressive. A fresh group of 2C pieces brought really strong money because people got excited. We have a 2C 1872 PCGS PR66 CAC that is gorgeous and is reasonably priced, however as we have been trying to point out, one coin does not shake the tree of excitement so it remains unsold.
In both our auction last week and Heritages coins of REAL quality that were PCGS CAC brought levels as much as 100% higher than any NGC non CAC pieces. It was no surprise to us when we saw the 5C 1910 PCGS PR68 Cameo sell for $30,000.00 hammer or the 1C 1855 PCGS MS65RD CAC bring $6,500.00 hammer! Both coins were incredible and go find others! We cannot stress enough these days you will NOT buy GREAT coins like that cheap.
The market clearly has become smarter. More so than ANY time in our 40+ year career have we ever seen the market so quality driven. If you buy real quality coins and hold (as has been proven over and over) you WILL make money in coins. Just because you might have completed a Registry set will NOT guarantee you any profits. Collectors clearly want QUALITY.
You need to look no further then the auctions to confirm the market is alive and well. We believe what the collector who asked us the question does noto realize it is the lesser NON CAC coins shooting downward. It boggles our minds how many people do see nor do understand the huge pricing difference in CAC and non CAC coins. There is a reason for that difference.
For the type of coins Legend deals in, there is NO need to panic about the market crumbling. In fact, as more people start collecting again (which is happening), we see prices only continue to firm for the great coins. Demand absolutely exceeds today’s supply of neat coins.
THE NEWMAN SALE-THE 1861 CENT AND CONFEDERATE HALF
Legend Numismatics is proud to announce the purchase of the 1C 1861 NGC PR63+ CAC Confederate Cent for $186,000.00 and the 50C 1861 NGC PR 40 CAC Half Dollar for $960,000.00.
Must mention that while bidding on the half, Heritage announced there were 2 floor bidders at $750,000.00 hammer (one was us) and THREE internet bidders there too. We have not seen the market so clear on a coins value like this. The customer we bought it for adores the history of the coins and they now reside in one of the best world class collections today (no not, Simpson). Of everything Legend has ever bought (and we have handled virtually EVERY major rarity known) , the Confederate Half ranks at the very top!
The sale had kind of caught us off guard. We had thought all his nice Newman coins had been sold. We could not wait to see them and buy some more.
For us, the fact the coins were NGC was a blessing. It allows us to buy them a touch cheaper.
We certainly had our favorites. We are very proud of the coins we bought:
1792 HALF DISME NGC XF CAC $132,000.00
25C 1796 NGC MS64+ CAC $264,000.00
$1 1795 FLOWING HAIR NGC AU58 CAC $54,000.00
$1 1798 NGC AU 58+ CAC $33,600.00
In all, Legend spent $1,629,600.00 just on the Newman coins. Our total purchases in both Heritage sales this week were just UNDER $2,000,000.00. You know when great coins/collections are offered Legend Numismatics is always one of the strongest buyers for customers and itself! You want us to represent you.
As always, we worked very hard to produce a quality offering of great NEWPS. This week we have some amazing highlights:
3CS 1867 PCGS PR67 CAC
25C 1903 PCGS PR68 Cameo CAC
$1 1802/1 PCGS AU58 CAC
$2.5 1804 14 Stars PCGS XF40 CAC
Of course we tried to create an offering with something for everyone. DMPL collectors, we did not forget about you! It has really been that hard to find coins we like. We refuse to buy hazy mirrors!>
Do not forget to check out our regular inventory. We have coins like the gorgeous 50C 1826 PCGS MS65 we posted last week, or the really nice 5C 1885 PCGS MS65 CAC. EVERY coin we offer is picked for its outstanding quality and eye appeal. You know we will work hard to accept any reasonable offer except when we say best price-we can not do any better (the prices are usually cut to the bone anyway.
ALL NEWPS ARE NOW POSTED
LEGEND RARE COIN AUCTIONS
We’re still riding high from our extremely successful October Regency Sale. We thank everyone who participated and thanked us for our success.
Now its on to the November Premier Sessions Internet Only sale. The sale is LIVE today and closes SUNDAY night November 12th. The lots will be on display at our table at the Baltimore Show!
The Baltimore Show is the absolute FINAL CALL for lots for our December Regency Sale. Contact Julie Abrams: julie@legendaucitons or Greg Cohen: greg@legendauctions. com today! As we have more then proven, our sales get results equal to or BETTER then the big guys!
EMAIL US IF YOU HAVE ANY QUESTIONS OR WISH TO ORDER: firstname.lastname@example.org. WE WILL NOT CHECK OUR PHONE MESSAGES UNTIL MONDAY 9 AM.
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