A LAME EXCUSE
We are doing business again. BUT we are not lighting the world on fire with sales. For the past 2-3 weeks our business has been very steady which is what we expected to see early last month. Since Baltimore (which was a good show for us), we have sold well over $2 million in top end coins. We easily could have sold more, but we can not find what we need. Its weird how with a more turbulent stock market people are back buying coins.
Hard to believe but this year (again, no record setter) was so intense we’re actually burnt out. We had to work 3x harder for squeezed profits. It was a our worst year of being pressured all the way around. Now we are fried. We’re going to slow down a little towards the end of the year. Of course we will still be buying every cool coin that gets offered us and we hope we have enough in house to keep our web site fully stocked. FUN will be our next major show (do not know about Vegas in Dec yet-we do have a great and BIG mini Regency Auction to be viewed there).
So we see the market getting better in our world. We actually have TWO huge deals in house right now-and its best we get to work on them. You can find us in our offices or reach us via email. Do note: we might just be taking a day a week off the rest of the year! OMG! Yes, next year, we WILL yet again try to slow it all down. Our problem, too many things pop up for us to do. Such coin weenies we are!
We do expect the San Antonio PCGS Inviational to be a really good WHOLESALE show. Not sure how much coin buying public lives in the area.
Last: we’re been selling TYPE (yes TYPE-proof Type especially) and of course, lots of gold-generics though real rarities.
A BUYERS MARKET FOR SURE
How did PR 66 Barber Dimes slither down to $1,200.00 or so? Some great Early Copper can be bought for 20% off their highs. Proof Trade Dollars in PR65 or 66 got whupped pretty good. Lots of slightly better gold is 10-25% less then they were selling for 2 2 years ago. These are coins you do not see every day. Some way some how (we believe it was a combo of poor price guides and fugly examples selling and being reported that have hurt the better coins), a lot of coins have dropped in value. These coins have NO reason to be at these levels. Our biggest problems are when the great coins appear, we have to “over pay” vs price guides and then sell these coins for little profit. For many dealers-including us, it has been a real struggle to make money. This is part of why in our world you can easily get some great deals.
Most coins today are cheap. We shake our heads when we see a GEM MS or PR 3CS selling for $4-$5,000.00 and being a top pop. Think about how cheap things are when you are offered top pop or really nice pieces that you hardly ever see being offered. Look at he pops of the date-if its LESS then 10, that is not many at all. If you buy really smart today, you can and will make a lot of money. Buyer beware: many people are cheap buyers or are bottom fishers. While you may think you are getting a great deal, you are not. No dealer today is going to dump a great coin-the demand is still too powerful with too little supply. And yes, you really should buy CAC. We have many experiences involving nice non CAC coins. They just sell weak. It is the market.
Even if you think you are paying 25% too much today, you are not. There are great opportunities out there-but those numbers are dwindling. That great black hole just keeps taking away great coins.
NEWPS
Yet again we managed to have a wonderful offer that we feel would be highlights for many other firms. Highlights include:
1C 1842 PCGS PR64 BN CAC GRAYSON LESS THEN 20 MINTED
3CS 1854 PCGS MS66+ CAC
50C 1870 PCGS PR66 CAC
$1 1882CC PCGS MS67 CAC
$5 1804 SM 8 PCGS AU58 CAC
Of course we have other neat and quality oriented coins posted. Every week both principals of Legend select the best coins to post. If we find any tiny problems, they get canned.
Legend does get enough neat coins in house to maintain a strong inventory of all PCGS CAC coins to offer our customers. Take our word on it-it not easy. Fortunately, we have 40 years of contacts.
If you want to build a great set of something-we are the people! No active dealer today has built as many #1 sets as we have. We enjoy building collections with people-we treat it like a partnership. If your not sure of what to do or need help, contact us, we’d love to work with you!
LEGEND RARE COIN AUCTIONS
www.legendauctions.com
FINAL CALL! Our awesome Regency Sale closes this Thursday with a live session n San Antonio. If you need to discuss financing or set up phone/absentee bidding we need you to contact us now. The staff leaves for the Show Tuesday (Tuesday on they maybe reached via cell at 732-233-0719). There are 486 handpicked coins. We don’t bust your brain with thousands of mixed lots. Its NOT what we are set up to do. This sale does contain coins for all levels of collectors.
Look over the lots today. We do suggest a quick call or email if you have any questions. Typically on Thursday our staff is swamped.
We thank every one who is participating (so far eye balls are at huge numbers as are early bids) and we wish you good luck!
FINAL CALL FOR CONSIGNMENTS
We are holding our FINAL Sessions Sale Dec 19th. We will have all the coins at the Las Vegas invitational for viewing in December. This sale will be much bigger and have some really interesting coins as we are trying to close out the Sessions sales with the biggest ever. The MINIMUM lot value we can accept: $2,000.00 with MINIMUM of $12,500.00 total in value. Remember, for this sale, we are paying hammer as the buyers fees are only 10%.
ALL coins for this sale MUST be in our offices by Friday Novemember 16th.
We plan on doing 6 Regency Sales next year. That simply does not allow us the time to do the Sessions sales. We want to keep our brand tight and not have massive sales. Eliminating the Monthlies and adding an extra Regency Sale seemed right to us. We are also very proud our first sale of next year is a stand alone in Beverly Hills. We still vividly remember running to as many as 3 sales for Pre Long Beach. We’ve even booked one of the hotels where the biggest one used to be. We are not ready to let the cat out of the bag, but we already have 3 complete collections for that sale. The response just via word of mouth has been tremendous! But we still need more high quality coins. Contact Julie Abrams: julie@legendauctions or Jessica Berkman: jessica@legendauctions.com to discuss a selling plan tailored to your needs. We assure you, we are not like other auction houses.
IF YOU HAVE ANY QUESTIONS OR WISH TO ORDER, PLEASE EMAIL US; legend@legendcoin.com. WE DO NOT CHECK OUR PHONE MESSAGES UNTIL 9 AM MONDAY.
