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Posted: January 6, 2018 09:43 AM EST| 1 Reply
THE SWITCH HAS BEEN FLICKED ON
Such a rough business. We crawled out of 2017 shaking our heads as to how a great year could end so wrong. We did not really know what to expect at the FUN Show. Of course when you have meager expectations, you get strong results. While no where near a record show, it was a really good show and was highly refreshing for us. We actually did a few hundred thousand worth of retail-something we have not done at ANY show in the past year to 2 years. We did see a large crowd on Thursday. Dealers kept their heads down and were prepared to “grind” it out to make some money. We did not hear any negatives save for how tight the grading was (which we think is very good).
It is of our opinion that prices ROSE 5%-10% at the show for all better coins. Widgets and dreck were selling, but at cheaper levels. These have not yet bottomed. Collectors clearly were starved for coins and supply was non existent. There was little to NO BETTER gold (PCGS CAC ) for sale. We came in to buy aggressively. In fact, we are so starved of coins, we going on the most aggressive buying only rout for the next 30 days (we are talking buying what WE need-not buying stuff). So any NEWPS we will post, will be NEWP’s already in the works until we are reloaded.
As always, the FUN People run the show really right. In our opinion, the FUN Show has blown past the ANA Summer show in attendance and prominence. This year, with really no other major quality major shows, the FUN show was fully back to its “must attend” position.
We actually arrived Monday afternoon. Our goal was to lot view. However our #1 secret buyer came in before we could start so we went to see him. Of course he did his thing and bought several great coins. He clearly was starved for better coins. Then as we went over to the convention center we noticed a major buyer was free. Boom! Sold him an easy $75,000.00. Never got to lot view until mid day Tuesday. We were too busy selling! We got all freaked when around noon Tuesday we realized our buying had been whopping $25,000.00! OUCH! We kinda pushed our selves and later that day to only buy and bought the 1792 Half Disme in good (we don’t generally handle lower grades). Still we ended our pre show buying LESS then $100,000.00 (the lowest ever for FUN). NOT fun! Our total purchases from the show-dismal!
All during this time, our secret stealth seller was moaning he was on a record pace. By 8 PM Monday he had sold $250,000.00 worth of coins at strong prices. Tuesday he did the same. We do not know what is total is, but we would bet it was more then he ever sold at any show. he sells soup to nuts, with mostly lower end off quality pieces (not like what we handle). Still, dealers were waiting in line to see him.
At the table business was much better then we have had in years for ANY show. While we had no crowds, a person here and there would pop in. We even sold our $20 1900 PCGS PR65 CAC Cameo to a collector/investor who thought it was too cheap. Not only was this positive, we felt refreshed to see collectors buying at a big show again.
The auction was very hit or miss, however overall prices were VERY strong. Nothing of real quality was missed. NOTHING. However dreck could not have sold any cheaper. The Duckor Half Dollars smashed records. This was our 2nd time we were the under bidder on his 21S which sold for $120,000.00. We aggressively bid on $2,236,000.00 worth of coins and won only $600,000.00-OUCH! We send a hiss out to the buyer of the $1 1921 Peace PCGS MS67 that sold for $108,688.00 (first CAC should have beaned it, and we loved that coin and sold it to Burgess many years ago). Obviously we were the under bidders. The neatest coin we bought (which was for our mega collectors Black Cat): 25C 1835 PCGS PR65 Cameo CAC $168,000.00. Meow! It also was neat to see Lou Pinella sitting in the back of the auction room watching his coins being sold.
LEGENDS WANT LIST
ANYTHING COOL! It does NOT have to be a $10,000.00+ MS68 coin. But we do NOT need widgets (an 82CC in MS66) or dreck. However, we will buy EVERYTHING in ANY deal if we have too. Offer us large deals, offer us single coins. Right now, just offer us! Do know on “stuff”, we will pay market (which is what we can replace the coins for). It does not have to be PCGS CAC either. However, if not, we MUST see the coins to make any offer. Remember, we bought the 1794 $1 for $10,000,000.00 and we spend tens of millions every year in many cases paying record prices. Contact George Huang with what you have: firstname.lastname@example.org.
We still need that Wire Edge High Relief PCGS MS66 or finer. MUST BE PCGS CAC. It has been a year now. We are shocked as this should be a coin we could find.
THE BLUE LAKE COLLECTION OF COPPERS
We are finally offering this remarkable huge group of Early Large Cents. The collection includes TWO Chain Ameri’s, a GEM 1795, a 1799 PCGS XF45, 1807/6 SM 7 PCGS AU53, and many rare choice pieces (not all are CAC-ALL are PCGS). These are duplicate coins are from one of the finest Large Cent Collections ever assembled. That should say a lot about the quality of these pieces (really nice deal)!
The majority of these coins were purchased over a decade ago by Blue Lake Collector and have been off the market ever since. The holders are NOT pedigreed Blue Lake.
We will be be posting them in two sections starting Sunday AM. Enjoy!
All of Blue Lake has been to CAC (not all are CAC tho). Also, if you have a Want List, email or call us today-we do not expect these coins to last long!
ALLOW until Wed/Thur for some images. Sorry, we can not hold coins for images. We also apologize for not being able to send out any full lists before FUN.
How sad. Gone are the days when we had multiple wicked cool coins to offer. Now we just have a handful of really nice coins. We scoured the FUN Show until our feet hurt seeking the best coins. Take our word on it, right now price would NOT haven been an obsticle.
Our only highlight is not something you’d ever expect to see from us. We did jump at the chance to buy it because in its condition, it is extremely rare. It is a H.10 1792 PCGS G 06 CAC. We can not tell you have many of the lower graded pieces have problems. This is a virgin legit GOOD. It is also the most affordable piece you can buy. And it is NOT bent (as so many are)!
We do have many other neat coins-including a gorgeous GEM 1818 50C PCGS MS66 CAC. One thing we will not do-offer more with lesser quality.
Next week our NEWPS will be small but pretty powerful (have a few mind boggling PR Barber 25C) ! NOTE: We bought NO Morgans at FUN (really mind blowing).
ALL NEWPS WILL BE POSTED BY LATE SATURDAY
LEGEND RARE COIN AUCTIONS
We are sorry to say, our official announcement has be postponed. The major announcement will be coming from another firm shortly. No, we did not lose one of the greatest collections ever-we sold it (we were approached with an offer we could not refuse)! It has now found a wonderful new home-intact and will be safely off the market for many years. So no auction. This sale came out of no where.
BID NOW! While we might not be selling the best collection ever now, we do have one of the very best auctions assembled that is LIVE today. The sale ends January 25th with alive session in Las Vegas.
WE WILL HAVE LOT VIEWING THIS FRIDAY AT THE NYC INTERNATIONAL SHOW. A representative from Legend Numismatics will also be on hand. If you have coins to be appraised or consigned-bring them!
Our Monthly Premier Sessions Sale is shaping up to be awesome. We have many hand picked PCGS CAC pieces. We have a killer FRESH $1 STD 1850-O PCGS AU58 CAC and a $10 1852 PCGS XF 45 CAC to name just two cool coins. The sale will go live in a week or so. We hope to have a full lot listing up later this week.
If you have any questions or wish to consign, please contact Julie Abrams: julie@legendauctions, or Greg Cohen: greg@legendauctions. They will cut you the best deal and work with you from start to finish!
IF YOU HAVE ANY QUESTIONS OR WISH TO ORDER, EMAIL US: email@example.com. WE DO NOT CHECK OUR PHONE MESSAGES UNTIL MONDAY 9 AM.
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