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Don't miss an opportunity to make a critical purchase or sale. Let Legend be your eyes and ears on the collection market. We'll let you know about the upcoming sales, pricing trends and predictions, collections and exceptional coins entering the market, and other news to help you take advantage of opportunities before they pass you by.
Posted: June 23, 2017 08:31 PM EDT| 0 Replies
LEGEND NUMISMATICS DEALS IN THE TOP 5% RARITY AND QUALITY. OUR MARKET REPORT IS FACTUAL AND IS FROM OBSERVATIONS WE SEE FROM OUR POINT IN THE MARKET. OBVIOUSLY, OTHERS WILL HAVE DIFFERENT RESULTS AND OBSERVATIONS.
AN IMPORTANT HOT TOPICS IS NOW POSTED
THE BALTIMORE SHOW
The show was WORSE then we expected as far as overall action and attendance. If anyone says the place was crowded or activity was strong-we would NOT believe them. This show was the ultimate in proof as to why NOT to hold a summer show. With Long Beach just two weeks ago, as expected hardly ANY West Coast dealers made the trek. In fact the show was 1/3 smaller in floor space as well -signaling that many dealers did NOT have tables. Its a tragic shame. The market is now portrayed in an untrue fashion because of the results. Mary Counts and team who work their tails off to make the Baltimore Shows great spend all that time and effort for poor results because of the timing. We wish the Whitman people would come a realization about how bad these summer shows are and go back to two awesome shows a year. The biggest excitement of the show-a major explosion in front of the show hotels ( a huge underground steam pipe blew up).
Legend did absolutely NO retail sales at the show. We’d love to hear of anyone who sold any single coin over $5,000.00 to a collector just walking up. A good Baltimore Show we would do several hundred thousand dollars in sales to collectors. The players simply did not show-and those who did just seemed to want to check things out. Wholesale for many seemed to be good. Our super stealth seller did incredibly well BEFORE the show. We told him watch for things to die when the doors opened. Oh were we wrong! He kept selling like the energizer bunny. He had one of his best selling shows for us-EVER. We spoke to another lone cowboy seller-he said he had an unexpected great show too. Another dealer who is primarily a wholesaler told us he sold 4 High Reliefs (all wholesale of course) and had one of his best shows in a very long time.
Our wholesale was unexpected. From the time we saw our #1 super secret buyer Tuesday evening, until Thursday afternoon, we sold a lot of coins-so many we have to see the paperwork to know. In fact our #1 secert buyer at one point had 2/3 of our boxes out in piles for pricing! He did not buy everything, but we were thinking no show, beach time Wednesday. It was clear he needed coins-good quality coins. We sold soup to nuts to every one we showed-all at very strong prices.
The take away from all this, even though the public was sparse in attendance, dealers still needed NICE coins for stock or for customers.
Again, what we comment here is from Legend’s point of view in the market.
The squeeze is on for us. We’ve finally run out of bigger cool coins. We do have a few deals pending, but it looks like for a little bit some of our customers can enjoy their summer and not think too much about coins. In the month of June, even with a Long Beach and a Baltimore Show, we are unable to buy any Early Gold, and quantity of GEM Cameo Proof barber or Seated coins, any really rare gold-including the simple $20 1907 High Relief WE PCGS MS66 or 67 CAC! Choice silver Bust coinage dried up too. Of course we saw and were offered everything we did not want-which really was disheartening. The interesting thing: our Want List are suddenly growing! We have several NEW bigger players working on some amazing projects now.
The really great coins-ARE in really strong hands. You do not see many Newman, Gardner, or Pogue coins circulating. True collectors know to keep their coins away for many years. As new people do enter the market, it only makes it harder to find coins. Values actually are going up for BETTER NICE coins, however due to poor reporting of prices and retreads that are serious dreck, at times it can look like the market is weak while at the top end it clearly is not.
Buying today-even paying premiums, WILL yield you substantial rewards down the road. People really DO make money when they buy NICE coins and hold them! When we looked at the 1994 Collection in our July Sale, we got goose bumps because when we originally purchased those coins we were stupid picky. Today, we could NOT reassemble those coins in that kind of quality. After the sale we look forward to discussing the returns from the 1994 Collection. You won’t believe the original prices paid!
Lesser gold coins slunk slightly-however the demand for choice to GEM PCGS CAC coins is impossible to keep up with.
Our nearly 40 years of experience has confirmed to us how critical REAL quality is and remains. Our motto: “There is no substitution for quality”. Think deeply about that. Quality is not a PR68 Dime, its the BEST quality for a certain coin you can afford. Even an $1 1880S MS66 can be financially rewarding if it has that WOW look.
Folks, this could be it for a while for fresh inventory offerings. We found that little at the shows in June. We had been very lucky with a few deals we obtained early in the month. regardless, we do have an offering of really GREAT quality coins. Highlights (which really could be every coin) include:
50C 1817 PCGS MS65 CAC
50C 1908D PCGS MS67+ CAC FINEST KNOWN
$20 1896 PCGS MS64+ CAC
We worked extra hard to have an offering for all tastes and budgets.
Do not forget to check out regular inventory too. We have coins like the $1 1870 PCGS PR65 Cameo CAC which deserve great homes and are unlike any you will see offered any where else.
ALL NEWPS ARE NOW POSTED
LEGEND RARE COIN AUCTIONS
Our July Regency Sale is up and is open! Every day we are getting new and serious bidders registering. With 3 weeks still to go, the activity has been amazing. Our on line catalog is now posted. We think everyone for all the kind emails about it-it seems to be a huge hit. We believe this sale will be “the” quality sale of the summer (not including ANA Sales).
The sale closes July 13th with a live session starting at 4:30 PST. We will finally have sound. We are working hard to upgrade our internet experience.
A Premier Sessions Internet ONLY Sale with some really neat cons (including a $2.5 Pan Pac PCGS MS67 CAC) will follow the heels of the Regency Sale. That sale will be posted in a week or so. We will this sale in Vegas too for lot viewing.
If you have any questions please contact Julie Abrams: julie@legendauctions or Greg Cohen: greg@legendauctions. They can help you with setting up phone bids, terms, registering, and descriptions.
IF YOU HAVE ANY QUESTIONS OR WISH TO ORDER, PLEASE EMAIL US ONLY: firstname.lastname@example.org. WE DO NOT CHECK UR MESSAGES UNTIL 9 AM MONDAY.
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