SEE OUR NEW HOT TOPICS REPORT
THE LIGHT SWITCH IS ON
It is amazing how the market always turns on and off like a light switch. We really did not expect November to that much of a struggle, while there was no way we expected December to be so strong.
The first two full weeks of December for Legend included selling TWO GEM PR PCGS CAC $20 Lib’s (with a 3rd one coming) and this past week selling at least a DOZEN five figure gold coins. The 5th day in December we had blown past $1 million in sales (our goal for all of December). All this was totally unexpected. In addition, in Las Vegas at the PCGS Invitational Show, our Super Secret Stealth seller continued his roll and sold $200,000.00. He had a record year of sales-$10,000,000.00! All hail the Stealth guy! We did really well selling on the floor too. For a show where no one really showed up-that was awesome.
While the stock market is still tanking, we are seeing a big shift. We do see some very well heeled people jumping back in passionately, but we also witnessed people pulling their money out and seeking hard assets and other areas. We did see several articles in the financial papers confirming last week funds had record out flows. This could be a making for a very interesting Fun Show. We do not expect the current hot streak of buying to stop. And selling big individual coins like PR $20’s comes amid several decent size auctions with about 6,000 lots this month. That is a lot of trading hands!
What is even more amazing to us is how in the normally deadest time-all for various different reasons, we were able to pick up well over $1 million dollars worth of incredible super rare coins. We had been starved since 2015 for PR $20’s. Finding any GEM rare US coin that is PCGS CAC right now simply does not happen.
All we can think of is there is a numismatic god looking down on us!
THE YEAR END
We can not see this freight train stopping. In the middle of last week it proved that by just keeping great coins coming and the buyers eating them up as fast as they were told about them. We’re proud to say we bought and sold a monster 10C 1892 PCGS PR68 Cameo CAC that is now a center piece in what will be unveiled shortly as the new #1 PR Barber Dime set. That coin (which we had placed with along time customer) was typical of what blew in and out of our offices in a virtual blink of any eye.
Other dealers do not still understand the full concept of real quality and eye appeal. A technical graded CAC coin will not bring what a monster toned one will. Some think just because its CAC they can price it much higher (not the case). Others who “do not believe in CAC” simply price their fake quality coins at CAC levels. And even worse, they simply do NOT know how to buy the better coins.
Legend Numismatics is no West Coast wannbe outfit (it seems to be where they all come from) who woke up and decided to make a market in PCGS CAC coins. We started to do that when CAC started-as we were and still are staunch believers. That plus our 40+ years in the biz (UGH) gives us contacts few others enjoy. So quite possibly the December we are having is more in tune to us vs many others.
In our vision, we see the public as hungry again (not only just our people). As we said, FUN will be very interesting.
A PRICE DIFFERENCE AND A WARNING
While watching the Heritage sale the other night we saw two 5C 1916 PCGS PR67’s for sale. One was CAC the other not.
The first coin was NOT CAC and sold for $4,320.00. The coin did not look bad at all. The second-which was PCGS CAC sold for $9,000.00! Can’t say it was wildly toned, it looked nice. This is the new market. Price differences like that are not new. People and some dealers are coming out of denial finally. The supply of PCGS CAC pieces is small and demand growing so always expect to pay a premium. At the moment, the price guides are confused and are just wrong. We do believe Collector Universe an the CDN people are working on a better understanding of the market, thus better price reporting.
This leads us to our point: why would any smart or level headed dealer or collector sell any coin today with out at least sending it to CAC? Be careful-especially on gold and toned coins.
With a huge FUN Sale approaching, beware. You really need to know why a coin is NOT CAC. Hire a dealer-to represent you, what they save you is more then just money.
SPEAKING OF THE FUN SALE
Some trash talk: bad news for a lot of people-especially a few big shots. Legend Numismatics is coming in more locked and loaded to buy more then ever-and that includes when Mr Simpson had to own coins! We do plan on being hyper aggressive at Platinum Night! Our customers are starved for better coins. Unless Bill Gates shows up (been waiting 30 years for that), we are confident we will buy what we need. Or after pounding our chests we can end up waddling out with our tails between our legs very grumpy.
We will be lot viewing Dec 19+20. Prepare now. If you wish us to represent you, its on a first come first serve basis. For auction representation email Laura direct: lsperber@hotmail.com.
NEWPS
Oh did we out do our ourselves! We have two coins we just can’t get out of our minds posted:
1C 1805 PCGS MS63+ CAC Grayson and the remarkable and extremely rare $2.5 1848 Cal PCGS MS62+ CAC.
We just can’t get these two monsters out of our heads. These are coins we live to own and place.
Of course we have other NEWPS that will hopefully appeal to all tastes and budgets. Do not forget to check out our regular inventory, we assure you, no one offers more better PCGS CAC pieces then we do!
ALL NEWPS ARE NOW POSTED
LEGEND RARE COIN AUCTIONS
www.legendauctions.com
Sunday night our FINAL Premier Sessions sale closes starting 9 PM EST. We can tell you as of this writing we have a record number of registrants and eye balls. We think bidding will end up quite strong. Good luck!
We’ve done much yapping about our January Beverly Hills Pre Long Beach Sale. We can finally start announcing some additional highlights:
H.01 1831 REV 36 PCGS PR66 BN CAC
1C 1899 PCGS MS67+ RD CAC
3CS 1866 PCGS MS67 CAC
5C 1879 PCGS PR67 + CAMEO CAC
10C 1798/7 PCGS MS64
10C 1898 PCGS PR68 CAMEO CAC
25C 1918/7 PCGS MS63 CAC
50C 1946 PCGS MS67+ CAC AMAZING COLORS
50C 1952 PCGS MS67+ FBL CAC
G $1 1875 PCGS AU58 CAC
$2.5 1882 PCGS PR66+ DCAMEO CAC
$10 1858s PCGS AU 58
$10 1878CC PCGS AU 50
$20 1868S PCGS MS62+
$20 1909D PCGS MS67 CAC
$20 1922S PCGS MS66+ CAC
50C J-429 1865 PCGS PR66 CAC
50C 1946S BTW PCGS MS68 CAC
That listing does not include coins from:
The Mayback Buffalo 5C Collection (ALL PCGS)
The Star City MS Morgan Collection (ALL PCGS )
The Formula One M Barber Half Set (all PCGS ). This is a partial set.
Later this week you should be able to see the entire lot listing posted. Live bidding will start December 27th. This by far is our biggest ever January Sale.
IF YOU HAVE ANY QUESTIONS OR WISH TO ORDER, PLEASE EMAIL US: legend@legendcoin.com. WE DO NT CHECK OUR PHONE MESSAGES UNTIL 9AM MONDAY.
