STAUS QUO
April showers this year kept coming and seems to have kept many people inside still. We are seeing much more activity then normal for this time of year.
Our sales were moderate to strong this past week. However, they are still well below 2008/9 numbers. Collector/consumer confidence is strong and only seems to be growing again. We can’t repeat it enough we are convinced the market has moved far beyond the “perfect storm” of stand still February and March presented. A note: this report was written Saturday AM 5/7. Its now 7:30 PM and we sold TWO $40,000.00 coins off the web this afternoon. We generally sell smaller NEWPS on Saturdays. Today people were really shopping-and obviously buying! That does not happen too often.
Fortunately, there have been a few coins for us to buy and place. If you had asked us where we’d be at this point in the year, we’d have told you in the dumps. Last year we went through a horrific 3 month period (Feb-May) of NOT being able to buy anything we needed. Our Want List still exceeds $20 million, however one at a time we are finding some coins. We know the drip can stop and day.
Obviously, with no major shows or auctions prices remain firm. Really great coins are still trading a strong premiums while dreck is about as low as low can go. The good thing is we really are back to the coin itself being the major determining factor in value. It is still a buyers market in several areas (MS and PR Seated and Barbers 10C-50C to name a few). a full upward cycle will take a while before it happens, but its closer to upward then down these days.
WE WARNED YOU
The major buyers are trying NOT to raise bids on generic gold today. However, there are now many more players bidding. Its just a matter of time when they are forced to raise bids. We have not bought any $5 Indians MS64-65 or even MS66-67 Saints PCGS CAC in a while now. We do not even hear of much PCGS CAC gold trading at shows. We think something will “give way” soon and prices will pop about 10-15% in a quick time period.
Legend Numismatics does still very much recommend generics (we love $10 Indians 64+65 and Saints 66-67 W/M PCGS CAC ONLY). We also think building a Gold Type set is smart at this time. If you wish to start one or start buying better generics in 64 and higher, contact us: legend@legendcoin.com. We can take to you from acquisition all the way through set dispersal with many different powerful options.
WANT TO KNOW A SECRET HOW TO BUY A BEAUTIFULLY TONED COIN?
We have been doing this technique for ages. If we have coins we’re on the fence about color wise (meaning are the colors wild enough ?), we seek a second opinion. The PERFECT person to give a second opinion: someone who knows NOTHING about coins. Unless they have some color blindness, we’ve learned that asking someone with NO knowledge of coins do they think the colors are pretty-works. Its such a simple test. Even if they hate coins, most people we’ve asked always do say, “yes, that coin is pretty”. Usually the person will respond instantly when they see the coin. They don’t need to know a darn thing about what it takes for a coin to make the grade. Just is it pretty? You can take this one step further, we’ve had people say “I see this big line” or “the surfaces are really flashy”. You really don’t want to get into all that as it then becomes too complicated and issue. Try this method when your are on the fence about a toned coin.
NEWPS
ROUND II OF OUR CSNS NEWPS We are still pinching ourselves about this offering. We have over $500,000.00 worth of GEM fresh coins. Go shop around, you won’t find many (if any) offerings of 100% PCGS CAC graded coins. Add to that the fact TWO world class numismatists (the same ones responsible for building most of the ultra top world class sets that exist today) hand picked the coins. The quality and coins we offer in general have virtually NO competition!
This week we have several extraordinary Bust coins. Highlights include:
1C 1819/09 PCGS MS64BN S-281 CAC NAFTZGER
25C 1806/5 PCGS MS64 CAC GARRETT
50C 1807 CAPPED BUST PCGS MS62+ CAC 0-112 LG STARS 50/20 COL GREEN/NEWMAN
$2.5 1802/1 PCGS XF40 CAC
We also have other highlights:
$10 1907 INDIAN PCGS MS66+ CAC
$20 1927S PCGS AU58+ CAC
We have a very strong selection of 1C through $20. Don’t think too long-as many of you know, we really do sell coins fast!
ALL NEWPS ARE NOW POSTED
Don’t forget to check out our regular inventory as well. We have many great coins that deserve to placed in great collections!
NEXT WEEKS OFFERINGS WILL BE DELAYED UNTIL MONDAY 5/16. STAY TUNED.
LEGEND RARE COIN AUCTIONS
www.legendauctions.com
Our May 19th Regency sale is well underway. We have tons of strong bids already, and judging by the traffic, there will really strong bidding when the sale is in its finale. Do not miss out. Make an appointment for you or your agent to view the coins. Or, you can contact Greg Cohen our chief numismatist for a full description and discussion (greg@legendauctions.com).
We suggest of you seek special terms, wish to phone bid, or have questions or need anything to contact us NOW. The day of the sale does not work well! Contact Julie Abrams now: julie@legendauctions.com.
This is a great sale with many great coins. Don’t miss it! The sale will be held in New Orleans May 19th in conjunction with the PCGS Invitational.
IF YOU HAVE ANY QUESTIONS OR WISH TO ORDER, PLEASE MAIL US NOW: legend@legendcoin.com. WE DO NOT CHECK OUR PHONE MESSAGES UNTIL MONDAY 9 AM.
