THE MARKET HAS SOME SPRING AIR
Not only is Spring finally in the air-but so are rare coin sales. No hype, just fact. We have already sold more coins the first half of this April then we did in all of April 2015 (an amount that is probably equal to what some dealers do all year). Sales of single coins have been from $800.00 to $1,000,000.00 (the 1C 1793 Chain Cent)! And as we are writing this we are hammering out the final details (everything is agreed too) of buying and selling a major collection.
The reasons why we see activity being so good-consumer confidence is back. Everyone now sees there is nothing in Pouge for less then $25,000.00 (probably an even higher dollar minimum in the last two sessions), the BIG collections (Gardner, Newman, etc) are all long sold, and there is some stability in the stock market. Plus, the issue we think is #1 for collectors, they LOVE the new lower prices. As we have been saying, the market is at or near the absolute bottom!
Quality retreads do NOT exist. To us it is no surprise all the great coins from the past that flooded major auctions over the last 3 years have been nearly 100% absorbed. Sure the drecky retreads are all over, but even those have become too cheap. Price buyers are feeling good and are slowly starting to move long time dreck retreads off he market. We’re still a VERY LONG way until prices move up on mid range moderately rare coins, but we are either there or really close to no more downward pricing. Million dollar coins, are quiet-but none have really been offered for sale out side of auction.
We are cautiously optimistic that for the first time in years, the upcoming CSNS Show will be good. Our biggest hope for the show is that we can buy the coins we really need and not load up on stuff. Legend caliber coins can be impossible to find at times. Right now, we are lucky to have the offering we do this week.
THE CSNS AUCTION
We will be lot viewing CSNS and Pouge this week. If you seek representation, contact Laura Sperber direct: lsperber1@hotmail.com. All representation is first come first serve and is confidential.
Legend Numismatics and Legend Auctions will have tables at CSNS.
NEWPS
We have not had a great Bust offering in a VERY long time. The stars came together and we finally have a great Bust offering! In Baltimore we got lucky that we bought a small deal of choice to GEM Bust 25c+50c. These were all coins handpicked many years ago by a very sharp dealer with a great eye for his picky customer. None of the coins had been messed with. All have great eye appeal. Plus, finding GEM PCGS CAC Bust coins as many of you know, is nearly impossible (NOTE: if a Bust coin today is being offered by a major dealer and does not have the bean, you have to wonder what is wrong with it). These coins were only sold because many of them were duplicates.
Highlights include:
10C 1831 PCGS MS65 CAC
25C 1835 PCGS MS64 CAC
50c 1811 PCGS MS65 CAC
50C 1818/7 PCGS MS63 CAC
$1 1802 PCGS MS63 CAC
Of course there are many other outstanding NEWPS to be posted as well. This is a real offering that fits every ones tastes and budgets-even after tax time (talk to us about terms).
ALL NEWPS ARE NOW POSTED! DON’T FORGET TO CHECK OUT OUR REGULAR LISTINGS!
LEGEND RARE COIN AUCTIONS
Watch for the May 19th Regency Sale to be LIVE by Monday afternoon! Its an exciting sale you won’t want to miss.
LEGEND AUCTIONS WILL HAVE THE ENTIRE SALE FOR VIEWING AT THE CSNS SHOW.
You will find our descriptions are really transparent. if a coin has been cleaned-we will tell you. Or, if Legend owns a coin, we place an L at the end of the description. We present straight forward auctions every time!
If you have any questions, please email or call Julie Abrams, julie@legendauction.com. If you have specific coin questions, please call or email Greg Cohen: greg@legendauction.com. .
Payment terms are available for amounts over $15,000.00. All terms MUST be confirmed BEFORE you bid. Also, we request if you are planning on bidding over $15,000.00 and are new to us, please contact us first.
We are accepting requests for phone bidding now. Also, if you seek representation, the world class numismatists over at Legend will do it for FREE! They are the same people who represent many of the greatest collectors building the best sets today.
Good luck to everyone!
IF YOU HAVE ANY QUESTIONS OR WISH TO ORDER, EMAIL US: legend@legendcoin.com. WE DO NOT CHECK OUR PHONE MESSAGES UNTIL 9 AM MONDAY!
