Thank You Wall Street!
What a wild and whacky ride every took who owns stocks. The principles of Legend not only owned stocks-we owned energy stocks. After Tuesday we were sick of the stock markets. We realized they were probably not a great tool for us to base our retirement on. Sticking to what we know best-coins is the way we have decided to go for our portfolios. Little did we think so many other people would feel the same way (that wanted out of the stock markets). Back in 2008 the same thing happened and the next three to four years after that an awful lot of coins left the market without a hiccup.
Starting this past Wednesday, we got a few calls to discuss building some nice collections and sets from people who wanted to move their money out of stocks. We have been advising most people to build a GEM Gold Type Set (you can pick ANY coin for a Type set). If we had them in stock, we could have sold a serious amount of better GOLD coins last week. Right now not only is better gold sought after-there is practically NONE to bought on the market. We know several other major dealers are now aggressively shopping for the same. It sure is not a good thing for us as have HUGE Want Lists for things like GEM better $5+$10 MS Indians as well as $10-$20 Proof gold.
The summer drought is definitely over early due a little money wanting to leave the stock markets.
Yet again we must advise people to step up on the better coins when the opportunity presents. There are NO accurate pricing guides (although we find the BEST current guides to be auction prices realized) so need to make your buying judgment on the coins quality, rarity and eye appeal. Even with Pogue II now just 30 days away, there is NOT a huge group of coins flooding the market. We think you’ll see dealer inventories that did not move much during the summer now start to rapidly deplete. Not many neat coins apparently were graded at the ANA Show (we have heard of NO better gold). The next two months will be very interesting as we clearly see demand far outpacing supply!
NEWPS
Due to travel and our auction next week, we sort of ran out of time to prepare a big group of NEWPS. This week we have a smaller yet powerful group of coins to offer. With us, QUALITY is everything!
The main highlight, $5 1886 PCGS PR65 Cameo. This coin has stunning contrast. Also, we have a single better gold coin! $5 1910 PCGS MS65+ that’s gorgeous! Of course we have several other great coins to offer as well.
Make sure to check out our regular inventory, There are a few pieces that have surprised us that have not sold over the summer. We think as the market comes back to life, those pieces will sell quick and you might not get another chance at them-anywhere!
LEGEND RARE COIN AUCTIONS
THIS WEEK IS THE LIVE SALE-THURSDAY 5 PM EST! Be ready! If you need to phone bid or need special terms CALL US MONDAY! We leave for Las Vegas Tuesday. After Tuesday you can reach us on our special cell: 732-233-0719. If you are new and seek to bid, you MUST register a head of time-NOT during the sale. Sorry, we can not assist you with this during the sale.
We’re excited about so many of the great coins in this sale. Because of all the real quality pieces, we think you’ll see some strong prices realized. Since our sales are smaller, have better material, and have a huge following of the most powerful collectors and dealers, few coins ever “fall through the cracks”. So be prepared to bid!
If you need representation (totally FREE), email Laura Sperber direct: lsperber1@hotmail.com. She will give you honest advice about the pieces you are considering.
For all other questions and help please contact Julie Abrams at julie@legendauction.com or call our offices.
The entire staff of Legend Auctions thanks everyone for participating in our Regency XIII sale. Good luck!
IF YOU HAVE ANY QUESTIONS OR WISH TO ORDER, PLEASE EMAIL US or visit www.legendcoin.com.
WE DO NOT CHECK OUR PHONE MESSAGES UNTIL MONDAY 9 AM!
