LEGENDS OFFICES ARE CLOSED MONDAY FOR THE MLK HOLIDAY (we will check emails)
A NEW AND IMPORTANT HOT TOPICS IS NOW POSTED
CALM AFTER THE STORMS
Thank goodness it was a nice even week. We’re feeling better and are back to normal finally. That Ft Lauderdale experience was shocking at the least.
Legend did its usual business after a major active FUN Show. Sold several five figure coins of which several were unexpected. Overall, business was good. BUT, we saw a noticeable slow down on web sales of $5-$15G coins. The trend for the past several years has been such if the postings are following a successful major auction. This year the FUN auction clearly was the strongest we have seen in 3-4 years. We believe many people will spend January digesting their new purchases.
Activity overall is still very good. Our sales at the half way point of the month are at $2 million to collectors-which is up from last year. From this point on, all activity is based on finding the coins. There is no major show until Long Beach. Can not comment yet if the Long Beach Auction is an overflow from FUN, has little material/retreads, or has another good selection. If the auction is good, the activity will be strong for the balance of February.
Right now we see a slow incline in activity and prices. One thing that amazes us is the level and scope of the NEW collectors starting out. Most of them are students of various markets and have realized that coins are “off”and some series are just too cheap. A huge group just LOVES gold and seems to want to buy all they can-in all denomenations, grades, etc. A year ago practically NONE of these collectors were buying. BIG difference.
Always remember, buy the BEST quality you can afford. The coin market is not like other markets. If you buy dreck for cents on the dollar, you may not have as strong a rebound down the road as you might think.
Our motto: There is no exception for “true quality”.
GOLD
Obviously a bit stronger dollar has curbed golds advances. Its interesting to note it has NOT curbed collectors appetites for all that glitters.
We can NOT keep cheaper PCGS CAC gold in stock. We sell it as fast as we buy most of-with the majority never hitting the web site (our biggest Want Lists are for gold). More expensive gold (like Early Gold, better Saints) also has been selling strong. We see Gold Type sets, single series, and people who are just buying rarities today. NOTE: If you seek OR Gold bigger then a $5-FORGET IT. Especially PR$20 in the 90’s in Cameo (we’ve had multiple requests). Even GEM ORIGINAL Matte Proof Gold is NON existent save for one or two coins every few auctions.
CAC has been so picky we know they are not beaning many coins. If you go to a show even the amount of retread gold is minimal. We very much suggest you find someone very capable of grading if you think you are going to venture out into NON CAC gold. You would bee amazed what you can miss on coins. Yes, you might have to pay more for the CAC gold coins, but the market is unwavering, is highly-even more liquid than non, and clearly has been established since at least 2008.
Our suggestion has been to build gold Type sets. Usually that allows people to branch off into fields that end up liking more. Plus, you then have a representative of all the denomenations and every thing is of YOUR choosing (vs having to fill holes).
Legend Numismatics have been forever gold bugs. So with premiums falling and supply impossible, we see a HUGE opportunity-even if gold falls. Gold will NOT stay down forever-and the supply of better gold coins certainly can not explode!
NEWPS
ROUND II OF FUN SHOW NEWPS
As you can see, we worked really hard to make ROUND II of our NEWPS on of our best offerings in months. Look at these highlights:
5C 1891 PCGS PR67 CAMEO CAC pop 2.
25C 1929S PCGS MS67FH CAC
$1 1795 FH PCGS AU55 CAC
$1 1871CC PCGS AU58 CAC-The ONLY CAC higher-the MS64 Legend Collection coin!
$1 1882 PCGS MS65+ DMPL CAC
$5 1810 LG DT PCGS MS64 CAC
$50 1915S ROUND PCGS MS65 CAC
Those are just the highlights! We have many other great coins to choose from. EVERY coin Legend sells from its web site is always CAC beaned and will be a handpicked coin. Sorry, we pay strong or our coins because we want the best quality and eye appeal. If you are a price buyer, we can NOT help you!
LEGEND AUCTIONS
www.legendcoin.com
TWO or so more weeks until show time! Our Regency 20 sale has its LIVE auction January 26th in Las Vegas at the PCGS Invitational Show. The sale is now posted and you can bid today (as so many already have)!
The big highlight is the actual #1 Standard Silver pattern Set from Bob Simpson These coins are the best of the best. Many are the FINEST know and are pop 1’s. Most have been off the market for a decade +! In today’s market, some of these are worth LESS than the regular issue Proof of that date! These coins represent possibly a once in a life time buying chance. If you have any questions about values, please do not hesitate to ask.
If you have any questions, or need any assistance, contract Julie Abrams: julie@legendauctions.com or Greg Cohen: greg@legendauctions.com. Suggestion, if you need special terms or to set up phone bidding-contact them this week!
We are always seeking quality consignments. We’re just a bout full for our Premier Sessions Feb Sale. Contact us today if you wish to consign.
EMAIL US: legend@legendcoin.com IF YOU WISH TO ORDER OR HAVE ANY QUESTIONS. WE WILL NOT CHECK PHONE MESSAGES UNTIL TUESDAY 9 AM.
