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Posted: May 19, 2018 10:29 AM EDT| 1 Reply
Legend Numismatics deeply regrets having to open this Market Report mentioning the passing of a great guy and respected dealer Charlie Browne. We are totally heart broken. Charlie had battled an illness for many years. At least he was able to keep doing what he was both talented at and loved until the end-being a coin dealer. Our hearts and prayers go out to Charlie, his family, and John Brush and the DLRC family. We lost one of the absolute true “great guys (not just good) dealers. We will cherish all the great bourse floor chats we had. We nick named him “fluffy” because even while he was sick, he’d be bright and cheery and never let on. RIP Charlie.
THE NEW ORLEANS SHOW
Every year we keep thinking no one really attends. This year, we will remember the show was thriving with BOTH collectors and dealers Wednesday and Thursday. There clearly was activity and you could feel a buzz in the room. This possibly was our BEST PCGS Invitational EVER! We bought and sold well into six figures. Our super secret stealth seller told us last year he did $210,000.00 here last year. This year, he had done that the first day! His total was just over $360,000.00. There was NO question every one was back looking hard for good coins.
As expected better gold was red hot. We had passed on a really nice rare six figure Saint because we (yes us the people who paid crazy numbers for the AA Saints recently) thought is was too much. A few hours later we saw it in case and confirmed it has been bought and sold by a another dealer. WOW! In a few cases we could not look at coins until later. By that time, all the dealers had in their boxes was NON CAC puke. We actually did manage to buy a few things.
Granted this is only one show, but between the show and the auction, it seems the switch is “on” again. We firmly believe Long Beach in mid June will be super strong.
Last, PCGS was super tight on grading. Heck we even had an old holder NGC coin that was a MS64 and we graded lock MS65. Nope PCGS smashed us and called it a MS63. OUCH! In the end, sometimes it is not a matter of you knowing how to grade, its what they want to do that day. We love the fact PCGS Was tight so long as everyone was treated the same (which they were). In the long run, this flushes out the dreck and allows for better coins to rise in value.
THE LEGEND REGENCY SALE
KABOOM! First this was by far our biggest and most successful sale ever, ever , ever! Since we put it up on the web, the registrants and eye balls were at record numbers. When the sale ended we were simply stunned at the run away and overall prices. But then our auctions are designed to have the very best quality coins-you don’t have to pick through 5000 lots to find them.
We took a risk and did a 2 day sale. We had a wonderful Morgan set and a killer Peace Dollar set from two advanced collectors, so we decided the time was right to have a “Dollar day”. It as a runaway success. An FYI: unless we get a few really big collections and the timing is right, we are still one day only 500-550 lot sales.
Lot viewing was jammed from start to finish. We had a waiting list at each day. We even brought boxes to dealers to look. Plus, we put in the extra effort and took the coins to LA and NYC for special showings. We had record viewings. All our efforts more then paid off.
Look at these insane highlights (next to the prices is who bought the coins):
Fugio Cent PCGS MS65BN CAC $20,562.50 Collector
1C 1800 PCGS AU58 NO CAC $17,037.50 Collector
1C 1892 PCGS PR66RD CAC $8,518.00 Collector
1C 1935 PCGS MS68+ CAC $34,075.00 Collector
3CS 1864 PCGS PR67+ DCAMEO CAC $31,725.00 Collector
5C 1913 TYI PCGS MS 68 CAC $20,562.50 Collector
10C 1836 PCGS MS67+ CAC $73,437.50 Collector
10C 1893 PCGS MS67+ CAC $17,625.00 Collector
10C 1901 PCGS PR67+ CAMEO CAC $10,868.75 Collector
25C 1863 PCGS PR66 DCAMEO CAC $18,212.00 Collector
25C 1898O PCGS MS66+ CAC $22,912.50 Collector
50C 1876 PCGS PR66 CAMEO CAC $12,335.00 Dealer
50C 1941 PCGS PR68+ CAC $18,800.00 Collector
50C 1941D PCGS MS67+ CAC $11,162.50 Collector
$1 1865 PCGS PR64+ CAC $17,037.50 Collector
$1 1880S PCGS MS65+ CAC WILD TONING $10,281.00 Collector
$1 1889O PCGS MS66+ NO CAC $43,475.00 Collector
$1 1891-O PCGS MS65 DMPL CAC $58,750.00 Collector
$1 1899s PCGS MS67 CAC $49,937.50 Collector
$1 1921 PEACE PCGS MS66 CAC $18,212.50 Dealer
G $1 1880 PCGS MS66 CAC GOLD $6,462,50 Dealer
$5 1871CC PCGS AU 58 CAC $44,650.00 Collector
$5 1879CC PCGS AU 58 CAC $16,450.00 Collector
$20 1861O PCGS AU55 CAC $64,625.00 Dealer
50C 1936D RHODE ISLAND PCGS MS68 CAC $43,475.00 Collector
$1 J-1611 1879 PCGS PR 67 CAMEO CAC $41,125.00 Collector
These are just a few off the top of our head strong to “beyond Pluto” prices realized.
Save for the really wild prices, we consider the majority of the prices realized to be market. Keep in mind you can not go to shows anymore and see coins like this. Placing the smaller collections of what we built over the years in homes close to us is why we started the auction company. We never wanted these special coins to be lost in a phone book. We proudly make the claim, there is no more powerful group of collectors then the customers of Legend Numismatics.
Even though we feel like a fighters who just won an 12 round pounding match, we are thrilled at the results. We will never change and accept junk collections for our sales. We go out of our way to make sure everyone can bid with full confidence.
We do not have the final totals on the sale, but we estimate is was over $6,000,000.00!
Major problem, now we have to live up to very high expectations ever sale! Guess what, we can and WILL do it! If you think this sale was awesome, wait until you see what is in July! We will announce that around Memorial Day. Stay tuned!
Yet again, we have only a small but powerful group of NEWPS. Our highlight and favorite coin is the $1 1800 PCGS AU58+ CAC 10 Arrows. all we can say is WOW what a SUPERB GEM AU it is!
We also have an extremely rare $1 1849 PCGS MS64+ CAC the highest graded 1849 MS that will be available for many years-we have placed everything higher in world class collections. There is an awesome $2.5 1854C PCGS MS 62 CAC. It is tied for finest graded.
The most important thing, EVERY coin was selected for its HIGH END and extreme eye appeal.
ALL NEWPS ARE NOW POSTED
Stay tuned, not sure when the next NEWPS will be (Laura is actually knocking off a bucket list item off-going to Indy 500 to see the race), but we have a fabulous group of early $5 Bust coins-all in MS, and all are PCGS CAC!
LEGEND NUMISMATIC AUCTIONS
First Legend and Legend Auctions wishes to sincerely thank everyone who participated in our record breaking New Orleans Sale. We worked hard to make it great, but we fully know the success would not have come with out all the consignors and bidders.
BID TODAY! We have our Premier Sessions Sale live now. It closes May 24th starting at 9 PM EST. We assure you, our internet sales are like no others. First, they are explicitly overseen by Laura Sperber the founder of Legend Auctions. She vets EVERY coin. We also give you FULL descriptions with realistic estimates. We don’t just slap up an image with nothing to back up the coins. Also, you can always contact our in house numismatist, Greg Cohen to discuss any coin. if a coin is not right for you-he WILL tell you.
The current Premier Sessions sale may be riding the Regency’s sale success. It already has record registrants and eye balls. We assure you, our sales are no slop sales surrounded by Modern junk. We offer the highest quality and eye appeal. That will always yield the BEST results. Do not bid lightly in any Legend sale thinking you can rip one (we usually have 2-3 world class dealers who try and bid on every coin)!
FINAL CALL FOR OUR JULY SALE!
We already have some incredible coins for sale. With the New Orleans Sale, you saw what we can do. If you look back at all our sales, we are not one time wonders. We also can do hybrid plans which include Legend Numismatics selling your coins, or even simply buying your coins. Our drop dead deadline is June 1. ALL coins MUST be in our offices by then.
To discuss possibly consigning, contact Julie Abrams: firstname.lastname@example.org, Greg Cohen: email@example.com, our our newest team member: Jessica Berkman: firstname.lastname@example.org
We are also still accepting quality consignments for our upcoming June Premier Sessions Sale. Deadline for that is June 5th.
IF YOU HAVE ANY QUESTIONS OR WISH TO ORDER, PLEASE EMAIL US: email@example.com. WE DO NOT CHECK OUR PHONE MESSAGES UNTIL 9 AM MONDAY
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