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Posted: April 28, 2018 08:59 AM EST| 0 Replies
NOTE: WE ARE HAVING WEB SITE ISSUES. IN SOME CASES OLDER INVENTORY THAT IS LONG SOLD IS POPPING UP. PLEASE KNOW WE APPOLOGIZE AND ARE WORKING OVERTIME TO TRY AND FIX THIS BUG. WE ARE TOLD THE FIX WILL TAKE SEVERAL DAYS.
IT HAPPENS EVERY TIME
They say “expect the unexpected”. We did not think CSNS would be a good show. In fact, we cut our table size and staffing . We did not even bring our full inventory. Of course what happens after all that, we did very well! Had we been prepared, we possibly would have sold a million dollars!
While on Thursday morning the public did show up to a decent degree, but buyers for better coins did not. Our peers we spoke to did no sales to the public. As with us, it was all WHOLESALE. But wholesale was rockin hard and heavy! We saw a MS67 High Relief trade hands (around $250,000.00), saw a big ticket six figure gold coin trade hands (over $250,000.00 is all we can say), we had two dealers sit down and spend six figures each on what we call “product”, and we heard of lots of action of the floor. Of course our “super secret stealth seller did incredible his first day (pre show) biz of nearly $500,000.00 and his overall sales were really strong afterwords too. There was almost a fever for dealers needing nice coins.
Sadly, CSNS still is a weak show. PCGS told us they need only 3000 coins to B/E to attend. For them that should be nothing to get. Its sad that several dealers chose to attend the EAC show instead of CSNS. In fact if we had to estimate, maybe 1/3 of the normal dealers who attend a Baltimore or a Long Beach Show attended. In the old days, CSNS was a “must attend” show. Our take is the location in is just bad and it simply is not a friendly show. We’d say out of the 20+ years we have taken tables, we have had poor show post 2008, with this year as an exception.
As we expected, there was very little to buy on the floor. We saw only a handful of fresh coins surfaces only to be bought instantly at strong prices. Especially with better PCGS CAC gold, what was yesterdays price are not today’s-coins are worth much more!
THE CSNS AUCTION
While there was no major collection to get dizzy over, there were many nice coins. We went in looking to spend as much as possible since there are no real major shows until Long Beach in mid June. Of course we thought we’d have strong knockout bids. NOT! Yet again via the power of the internet we looked like chimps half the time. Our total bids were $1,744,501.00. Of that we we won only $621,408.00. We could not believe what some coins sold for. Look at a few coins we lost on:
3CS 1862 PCGS PR66 CAMEO CAC $8,400.00
5C 1911 PCGS PR67+ CAC $9,600.00
10C 1781 PCGS PR67 CAMEO CAC $10,200.00
10C 1874 W/A NGC PR65 CAC $14,400.00
25C 1927D PCGS MS66+ FH CAC $31,200.00
50C 1913 PCGS PR67 CAMEO CAC $15,600.00
$1 1881CC PCGS MS65 DMPL CAC $3,600.00
$2.5 1893 PCGS MS67+ CAC $22,800.00
$10 1904O NGC MS64+ CAC $13,200.00
$20 1915 PCGS MS65 CAC $33,600.00
J-1377 $10 BICKFORD PCGS PR63 $26,400.00
J-1666 1C 1881 PCGS PR65 RD $10,200.00
The biggest ouchie for us: the $20 1907 HR WE PCGS MS65 (NO CAC) Wire Edge: $132,000.00! What was that about? We still need one!
The majority of coins we were seeking to buy were NOT crack outs. Yet many sold for beyond crack out money (like the 10C 1874 PR). We can clearly see demand so strong that a coin like the 50C 1913 will command big money in an auction as its only a pop 6 by PCGS with just 2 CAC’d. If and when the next one comes up, we now know the market and we WILL be ready to pay up. Today, you can NOT buy nice coins with out stretching-period.
This auction (and the show too) more then proved the market for nice especially fresh coins is off the charts with demand.
As promised we have a powerful offering of NEWPS. Included are wicked cool Bust coins from some special deals we got in prior to CSNS. Many of the coins are once in many years that pop up for sale. So do not think too long. The grand highlights are:
1C 1803 SM DT LG FRAC PCGS MS63BN CAC
H.10 1792 PCGS XF 40 CAC EX NEWMAN/GREEN
25C 1796 PCGS AU53 CAC
$1 1795 FH PCGS AU58 CAC
$5 1802/1 PCGS MS64 CAC
$5 1834 CLASSIC PLAIN 4 PCGS MS64 CAC
$10 1797 LE PCGS AU50 CAC
$10 1801 PCGS MS62+ CAC
We really did try our hardest to buy coins for all tastes and budgets. Buying was so difficult we bought only one smaller Want List coin! We’re back to serious drought levels (we are petrified how bad May will be for us without a major show).
STAY TUNED: next week we are featuring a few better Saints!
ALL NEWPS ARE NOW POSTED
LEGEND RARE COIN AUCTIONS
BID TODAY! Our April Premier Sessions Sale closes starting 9 PM Sunday April 29th. Every coin in the sale is handpicked. Just a few coins have reserves (if a coin opens at its minimum estimate that is a reserve). We expect lots of last minute bidding, so be prepared!
THE MAY REGENCY SALE
First we want to apologize for the huge catalog. We promised not to do “phone books”. However, we have only 850 lots-but many coins warranted full page highlights. We are not shifting at all from boutique style. This sale simply had opportunities where we could hold a two day event with more coins. For us to do this size sale it was total drain, all we can say is god bless the big guys working 4000+ lot sales all the time!
There is a huge buzz around this sale. We never had more compliments. We sincerely say thank you!
At CSNS we only brought coins that were requested along with most of the Morgans. Any one who went by our table saw it was packed the majority of the day Thursday and early Friday with people viewing those lots. If we had been allowed, we would have brought the entire sale.
We expect record registrations (we already have 200+ NEW registrants), bidders, and record prices realized in many cases. We strongly suggest you prepare today. If you need to set up phone bidding, work out special terms, or need to lot view (we have a NYC showing May 4th), contact us today! Julie Abrams: firstname.lastname@example.org can assist you.
As always we seek great consignments. We offer much more then just selling by auction. Remember Legend Auctions is an off shoot of Legend Numismatics-one of the biggest and most aggressive coin dealers today. Hybrid deals are something we do all the time (a combo of direct selling and auction selling). No one will get you more money then us! We can handle any type of collection (NO Moderns) -even soup to nuts coins!
IF YOU HAVE ANY QUESTIONS OR WISH TO ORDER, EMAIL US: email@example.com. WE DO NOT CHECK OUR PHONE MESSAGES UNTIL MONDAY 9 AM
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