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Posted: May 20, 2016 05:38 PM EDT| 0 Replies
GOOD HAPPENINGS IN THE BIG EASY
New Orleans sure is a different kind of place. Every one was pretty happy to take a break from Las Vegas. In fact, this probably was one of the BEST attended Invitationals PCGS has held. We were surprised at how many local collectors there were who showed up and were buying coins! Ditto for dealers.
We certainly did not have to struggle to sell. We saw our “super secret” first shot buyer who was clearly looking to replenish his inventory. After him, we just sat at our table (vs walking the show) and sold soup to nuts as dealers were approaching us. That was a VERY good sign. On Thursday afternoon collectors started coming in. We sold them mostly gold and Morgans.
Back home, we had a great week. ALL the five figure coins we shipped-SOLD. There is NO question collectors are back with MANY starting great new projects. Now we are coming back to the problem of replacing what we sold. Can’t do it. We certainly were not impressed by the coins dealers were making at the Invite. We could run brutally dry in the next 30 days if some deals or small groups of cool coins don’t come around. Since January we have been lucky to have had access to a few small fresh deals. Its looking Long Beach in two weeks will be major buying trip for us.
This upcoming week is the Pogue collection sale. It will be very interesting to see what the big coins sell for. We admit, there is weakness at the very top of the market still. We would not be shocked if a big coin failed to sell. Plus, this collection in the end really had too much for the market to absorb. In our opinion, we think there will be more great deals in this session since many coins are six figures each. Still, you don’t see hardly any retreads from the first three sales.
A P.S On the Big Easy: no question it has some of the BEST gourmet food you will EVER eat! If you have never been to New Orleans, it is worth the trip for many reasons.
As we mentioned before, we’re not out buying dozens of coins. Its back to a painful looking through a hundred pieces to find one. Then pass on it because the owners believe its worth “moon money”. Then go back through hundreds more coins. And don’t think we don’t have make “courtesy purchases”of a decent size every time to keep our #1 place in line-OUCH! All that might yield one or two coins. We’re not price buyers who just go by the numbers.
You will enjoy the coins we are offering this week. Like always, only the VERY best coins make our web site. We have two world class numismatists vet every coin-the same two who exclusively built many of this generations finest known collections-can’t beat that!
We have 3 wicked neat SUPERB GEM Proof Morgans to offer this week. Great time to start a set!
1C 1909S VDB PCGS MS66+ RD CAC EX JACK LEE
25c 1883 PCGS PR67+ CAMEO CAC
50C 1884 PCGS MS67 CAC
$1 1882 MORGAN PCGS PR67 CAMEO
$1 1901 PCGS PR67 CAMEO CAC
ALL NEWPS WILL BE POSTED BY SATURDAY AFTERNOON
If you have any questions, or wish order, please email or call George at: email@example.com.
LEGEND RARE COIN AUCTIONS
LRCA wishes to thank EVERYONE who participated in our Regency 17 Sale in New Orleans. We had HUNDREDS of NEW registrants and hundreds of successful bidders. We might be a small auction house, but we more then proved we can match anything the big guys can do: the Quintupple Stella PCGS PR64 DCameo Ex Simpson was sold for $1,880,000.00! From what we understand, it is now housed in major collection of Coiled Hair Stellas. Congrats to the new owner.
Overall the sale had very good results. No question Bust Halves were on fire. Even the Patterns showed strong activity and numbers. We did notice weakness in the entire run of Quarters which surprised us. The 25C 1827 Original failed to find a new home at the sale (we are currently working on an after sale inquiry). That is a shame, its a super classic rarity that deserves better then how the market treats it. We did make several post auction sales as well.
Of course Legend Auctions owns the toned Dollar market. We had an incredible tones $1 1923 PCGS MS66 CAC-that brought $8,750.00 hammer with over 26 bids!!!! Some people question that market. We don’t. We know there really are that many players/collectors for the real wild stuff (an 1884O PCGS MS66 with spectacular color brought $4,347.50 in the sale). The difference is, we KNOW what the real wild stuff should look like-thats why we get these world record prices. Toned dollars are probably the one area we reject the most coins from. Too many others just don’t get it.
Here is a list of a few highlights from the sale (all are hammer +17.5%)
H.01 1793 PCGS AU58 ****************$37,600.00
1C 1909 VDB PCGS PR66BN ************$41,125.00
5C 1912S PCGS MS66 CAC *************$14,687.50
H.10 1838 PCGS MS68 *****************$37,600.00
25C 1898 PCGS PR68DC CAC************$22,325.00
50C 1830 PCGS AU58+ CAC ************$4,230.00
50C 1923S PCGS MS66 CAC ************$36,425.00
$1 1923 PCGS MS66 CAC ***************$10,281.25
$1 1883 HI PCGS MS65 CAC ************$25,850.00
$2.5 1900 PCGS PR68+ DC CAC *********$58,750.00
$5 1909O PCGS MS61 CAC *************$41,125.00
$20 1929 PCGS AU58 CAC **************$21,737.50
Stay tuned next week. We will have a MAJOR announcement about Legend Auctions.
We are already accepting consignments for our September Regency Auction to be held in Las Vegas at the PCGS Invitational on September 29th. If you have a collection you wish to sell, the earlier we can have it, the better promotion we can do. If you wish to consign or have any questions, contact Greg Cohen: greg@legendauctions or Julie Abrams: Julie@legendauctions. They will work hard to make your coins bring top dollar while being there for you the entire sale!
IF YOU HAVE ANY QUESTIONS OR WISH TO ORDER OVER THE WEEKEND, PLEASE EMAIL US: firstname.lastname@example.org. WE DO NOT CHECK OUR PHONE MESSAGES UNTIL 9 AM MONDAY!
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