NOT MC DONALDS BURGERS-OR COINS
In the past two weeks 2 major art collections sold for $332 million and $676 million. The Cox and Macklowe collections had an amazing 100% sell through. Of course they exceeded all estimates. It was interesting to note, that only half of the works were sold to US buyers. Still one lot that sold for $6 million, had 23 phone bidders! The majority of lots sold for $10,000,000.00+.
The art world clearly still seeks its GEM better Gold. With a new billionaires tax looming, art and all other collectables could get an even more serious bump up in value. There is just so little of each. Money is still looking for hard assets!
A comment: Legend Numismatics feels it silly for coin auction houses to be auctioning crypto coins. Crypto maybe here to stay in some form, but we see a huge opportunity for the masses to still get burned by it. Do NOT buy into it unless you fully understand it and can afford it. We are greatly concerned the new wave of rare coin collectors (we know of a few crypto guys) are disrupting the coin market. They are turning their crypto into hard assets-and their cost of money is almost nothing. So they are buying everything up with little regard for pricing with many people are being frozen out. And they are young too!
Too much money out there: a copy of The Declaration of Independence was sold for $47,000,000.00 Friday to a hedge fund billionaire The underbidder: a group of crypto people grouping their money together.
THE BALTIMORE SHOW
It was over before it even started. Every dealer worth their salt blew in on Tuesday and was a buyer. One normally conservative gold buyer said to us,” it was a shock, I had to change my buying habits and pay more-way more.” Indeed he did. You just about could throw any nice PCGS CAC bigger gold up in the air at moon money and it would be like a feeding frenzy. We had to pull our gold offerings so that we had something to offer the rest of the show. Many collectors are in that awkward position where dealers are paying far more then they can figure coins at. Gold wise, all we saw out in tables was low grade dreck for the most part. The supply is so slim we wonder what we’ll do for business in a few weeks. This is not speculation, the numbers are being driven by pure demand.
Sadly, we had a case full of Type. A few people came by and tire kicked it. Only one small sale was made by mid Friday out of that case. We just did not have any of the sexier coins that are in demand (dollar value did not matter). This is still a very hit or miss market.
SILVER TYPE IS THE PLACE TO BUY RIGHT NOW!!!! The stuff is NOT on fire and is pretty much cheap. However, you must be prepared to HOLD for a long time.
Of course all the familiar people attended the show. It felt good-a very good show and lots of collectors. As always, hats off to Mary and Lori for putting on another successful show.
Our Super Secret stealth buyer pal did $850,000.00 at the show. $500,000.00 was the first day of the PREshow. Very strong!
Love this comment from a long time dealer who finally had a chance to hit the floor Friday: “by the time I got on the floor to look around yesterday it was a picked over carcass”
Last of the “come back” shows; FUN.
NEW HIGHER BUY PRICES
Yeah, gold has come up a little from last week. But the demand is still crazy for generic and semi generic coins. We can’t tell you enough TAKE SOME PROFITS. You never get hurt selling into a rising market.
Even bigger ticket gold is being highly sought. We spent a part of Thursday trying to buy a rarity for $185,000.00 figuring the dealer had it since ANA. Then BAM! Another dealer walks up at the end of the day and pays more for it! Stupid us, 10% should not have made a difference.
$2.5 INDIAN PCGS MS64 CAC $825.00
$2.5 INDIAN PCGS MS65 CAC $2,850.00-we sold so many at $2,000.00 prior to 2020!
$3 INDIAN PCGS MS65 CAC $11,850.00
$3 INDIAN PCGS MS66 CAC $23,500.00
$5 Liberty W/M PCGS MS65 CAC $2,450.00
$5 Liberty W/M PCGS MS66 CAC $5,500.00
$5 INDIAN PCGS MS65 CAC $14,000.00
$10 LIBERTY W/M PCGS MS65 $3,750.00
$10 INDIAN W/M PCGS MS65 $5,000.00-we sold many at $3,500.00-$4,000.00 pre 2020
$20 LIBERTY TYIII PCGS MS64 CAC $2,600.00
$20 LIBERTY TYIII PCGS MS65 CAC $4,850.00-how many of you own ones we sold at $3,850.00?
$20 1907 HR WE PCGS MS64 CAC $28,500.00
$20 1907 HR WE PCGS MS65 CAC $55,000.00-we sold many of these in the mid $40’s. Got any dupes?
$20 SAINTS W/M PCGS MS65 CAC $2,700.00
$20 SAINTS W/M PCGS MS66 CAC $4,550.00-this one is easy. We were selling them in the high $3,000’s prior to 2020.
$20 SAINTS W/M PCG MS66+ CAC $5,500.00-we sold many prior to 2020 at $4,750.00!
This is a great time to unload extra coins to buy a house, or do some serious holiday shopping. We’re not suggesting you sell everything unless you are retiring or have a need for the money. We are only suggesting you sell your dupes or coins out of favor.
Please verify all sales. ALL prices are subject to change.
We are buying much more then this! What gold do you have?
Thinking of selling your collection? We offer three great opportunities:
Outright sale
Consignment
Auction
We WILL get you the MOST for your coins! Call or email us to discuss. We really are the best at what we do-and we really are 100$ for our customers!
NEWPS
We APPOLOGIZE for no coins under $10,000.00. We bought TWO coins the entire Baltimore show. Both were for Want Lists. WE ARE NOT ELITEST and we are shopping hard.
There simply were no nice coins to buy. We won’t buy a drecky looking MS64 Barber Quarter or a hazed up Proof. We tried to buy a stunning PR64 Cameo STD-but they wanted $14,000.00!! OUCH! We’ll wait.
We’ll try and spring more dupes from the Half Dome deal. We have to see where we stand. Want Lists get first priority. Sorry, NO LIBERTY GOLD HERE.
LEGEND RARE COIN AUCTIONS
wwww.legendcoin.com
ZOOM! We went from 0 to well over $1,000,000.00 in bids in less then 24 hours. We have already had several hundred bidders leave really good bids-in a few cases even topping the estimates. We expect things to remain intense until the gavel falls December 16th,
A Turkey Day suggestion: looking to ditch the family for a few hours. Cozy up to your computer and check out this sale. It will please you and keep you entertained.
We are nearing final call for consignments to our blockbuster 50th anniversery sale in January. If you have coins to sell, you want them in this sale! We will be releasing highlights soon.
IF YOU HAVE ANY QUESTIONS OR WISH TO ORDER, EMAIL US: legend@legendcoin.com. WE DO NOT CHECK OUR PHONE MESSAGES UNTIL 9 AM MONDAY.
