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Posted: June 27, 2015 09:08 PM EDT| 0 Replies
That’s our motto. The auction Legend Rare Coin Auction Regency XII Sale just held at the PCGS Invitational (June 25th) more then proved that statement is ever so true. Not only did we have part I of the “Best of the Best” MS Morgan Collection (the Coronet Collection), we had an outstanding fresh and off the market for many years group of GEM Buffalo Nickels, of course we had handpicked REAL colored Morgans, some incredible PR Gold and lots of other REAL QUALITY coins. Numerous record prices were set!
Until this sale from our point of view we were enduring a semi fickle spotty market. We could instantly sell the “right” coins-if we could find them. The problem is, we can’t find a fraction of what we really need Our sales are suffering badly again. When the great quality, fresh, and really exciting coins do pop up-they stimulate activity. They also sell immediately never to be seen again. Then you go to shows and attend auctions and see the same tired or drecky coins every time. There is no reason to stretch on anything-and in many cases, collectors get bored and simply stop looking until something dynamic (like this auction) pops up. So we end up in market that we like to say is “stuck in mud”. At least we do know the serious buyers are there waiting in the wings for sure.
Our other long time motto: REAL COINS BRING REAL MONEY. Proved that out again for the millionth time!
Legend Numismatics wishes to congratulate our long time friend and customer on the sale of Part I of his Coronet Collection of MS Morgans. He has forever earned his place among great coin collectors and his collection is the only one to rival the great Jack Lee’s #1 set!
The Corornet Morgan Collection was a labor of love, hard work, and being very picky over 40+ years. We joined in and exclusively helped him the past 17 or so building the vast majority of the set (all but two coins). The ultimate goal was to buy the VERY BEST quality and eye appeal. We did. Sometimes we had to pay what at the time was crazy “moon money”. We NEVER accepted any inferior coins. The Coronet Collector was also smart enough to understand the importance of getting “key dates” that were all there and then some (many collectors today for whatever reasons think a key is a key and really don’t attend to the quality).
Our expectations for the auction of the Coronet Morgans was high. After the hammer fell on the last coin, we had very mixed emotions of sadness (we could never replace those coins) and real euphoria as just about EVERY coin brought “BEYOND MOON MONEY”! Again note, these were NOT just coins with the highest grades on the plastic, these coins were all the real deals!
We are VERY proud to report of that 88% of the 64 coins were purchased by collectors (some were represented by dealers). We ourselves left early bids and only bought four coins. While somewhat disappointed, we’re thrilled the coins went to new homes.
Wait until group II is presented. The quality is every bit as outrageous as what was just sold (our favs: the 1898S PCGS MS68 CAC and the 1901 PCGS MS66!).
A FEW MORGAN HIGHLIGHTS:
1878 8TF PCGS MS67 CAC $52,875.00
1880 PCGS MS66+ CAC $14,100.00
1882O PCGS MS68 CAC $108,687.50
1884CC PCGS MS68+ CAC $85,187.50
1885CC PCGS MS68+ CAC $135,125.00
1887O PCGS MS66PL CAC $58,750.00
1889O PCGS MS66 CAC $30,500.00
1889CC PCGS MS64 CAC $141,000.00
1891CC PCGS MS68PL CAC $199,750.00
1892CC PCGS MS67+ CAC $135,125.00
1893O PCGS MS66PL CAC $458,250.00
We really could list the entire collection as record prices. Activity was intense on EVERY single coin. A big congrats to all the winning bidders-your collections are now greatly enhanced!
Other Morgans in the sale brought strong money too. No question Legend Rare Coin Auctions is ultimate auction market maker for outrageous colored Morgans. Yet again we have a mega monster toned breakout coin: $1 1880S PCGS MS65+ that realized $14,100.00! It was not just a bidding war with two collectors. 63 bids were placed on the coin, over 1,000 unique people viewed it, and nearly 50 people were watching it.
Right now GEM Proof Gold is in great demand. You might find a few gold dollars and a $2.5 or two-but no $5-$20 are floating around. From day 1 the Stella $4 1879 Coiled PCGS PR66DC CAC in our recent auction had extreme interest as did the $10 1869 PCGS PR66+ DC CAC . Both coins brought really strong money-with a mini bidding war occurring for the 1869 $10! The Stella brought $258,500.00 while the $10 brought $199,750.00. The key to both coins bringing strong prices: they were not messed with and had dazzling eye appeal. If they had been hazy-they probably would not have sold.
Proof Gold is an area of the market that is overlooked. Probably because its expensive and the reality is there are very few pieces that come to market. To buy any exceptional GEM PR piece you have to slug it out in auction and usually pay too much (which will not harm you if you’re not looking to flip it). We do suggest (if you can afford it) to try and build a simple Gold PR Type set. There is hardly any downside right now.
Wanted to comment as this is the one area of the market that mystifies us. It’s become weak-very weak. We do not know why. There is no overload of great pieces (although there is a lot of dreck) floating around. We love the series because most dates have UNDER 1000 pieces Minted and can come very pretty. Plus, even if you go to a PR68 grade, the prices really are not astronomical. Last, in every series of PR Barbers you build complete sets. We HIGHLY recommend these series right now. You don’t have to build a top grade set, even a PR 64-65 set is a great deal today. Remember-always buy the best quality you can afford-for the grade!
We have an exceptionally great group of NEWPS to post this week. You won’t see a large group-as the coins just are not out there. We were not able to buy much at all at the PCGS Invitational Show.
This weeks highlights are: H.10 1795 PCGS MS65+ CAC, 25C 1889 PCGS PR68 CAC, a magnificent SUPER HIGH END 50C 1933S PCGS MS67 CAC, and a killer nearly cameoed $1 1901 PCGS PR66. EVERY coin was handpicked for its outstanding qualities and eye appeal.
The entire staff of Legend Rare Coin auctions wishes to thank and congratulate everyone who helped make our recent sale a world-class success. We have proved yet again we have every bit as powerful of a collector base as ANY major auction firm (maybe more powerful as our base exclusively includes Legends customers)!
We strive to make EVERY Legend Rare Coin Auction Sale a quality sale. We also won’t run you ragged until 1 AM or have your coins lost in a phone book catalog. Plus, we have an easy to use web site and live bidding platform. Every staff member is dedicated to giving you the highest degree and best customer service possible. Consignors do see the difference-especially since we are transparent and they can follow how we promote their coins. Legend Rare Coin Auctions motto: A happy buyer makes for a happy seller!
As our Regency XII Sale just proved, we can net you strong (and when warranted-RECORD) money for your coins. We’re now seeking consignments for our September 3rd sale to be held at the PCGS Invitational in Las Vegas. Established Legend customers ALWAYS get the BEST consignment rates! Call or email Julie Abrams now to discuss: email@example.com. Our cut off date is July 17th-NO Exceptions!
We already have a few incredible coins: 5C 1880 PCGS MS65 CAC, a superb 10C 1919D PCGS MS66FB and $1 1881 PCGS PR67 CAC w/spectacular rainbow colors (like a regular MS Morgan). The balance of the #1 $10 Liberty Collection EX Hall/Simpson (about 50 coins) will be in this sale as well-ALL UNRESERVED. We’d be honored to include your coins too! Do note, we really do reject coins that we feel have too high reserves or the quality is not fit for our standards.
For more information go to: www.legendauctions.com (check out the prices realized for Regency Sale XII!)
IF YOU HAVE ANY QUESTIONS OR WISH TO ORDER, PLEASE EMAIL US. WE DO NOT CHECK OUR PHONE MESSAGES UNTIL MONDAY 9 AM. firstname.lastname@example.org
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