DUE TO THE HOLIDAYS, OUR OFFICES WILL BE CLOSED UNTIL MONDAY JANUARY 4TH. WE WILL BE REACHABLE VIA EMAIL.
2020 TOO MUCH BAD-STRANGE KARMA
If there ever was a year pretty much world wide that was just plain bad (worse then lousy) 2020 was it (at least in our lifetime). We had just strange and bad things going on PLUS a pandemic. Sadly, the country is ending the year on a sore note. 2021 has to be better!
Legend Numismatics started the year really strong. In January we sold a coin for over $3 million dollars, had a good FUN Show, and had strong auction representation. We should have called it quits then. Even though we spent over $1 million in the Pogue Sale in March, we were hampered by a big miscommunication and should have spent more. From that point on, our year slid into oblivion. June/July was our absolute low point. We were ending a deal with two greedy and arrogant people who cost us severely (and they are proud of it too). Fortunately, starting in August as we recovered, our customers started popping back up. Most had sat out on the sidelines waiting to see where things were going. At the time most people just wanted to make sure the world would not fall apart.
We worked so hard to find coins. No one was really dumping which surprised us. We had only two small collections sold too us during the tough times. While picking up only an additional coin or two, these two collections were enough to get us through the upcoming two months. The good thing without travel our expenses were dramatically lowered and we could survive. Legend has been in biz since 1986. We have never had a bad time June/July in our history-even when back in 1990 we were in VERY bad shape. We can assure you, Legend Numismatics will be back to full powerhouse stature starting January 1 2021(we’re actually there now but not asserting ourselves this week)!!!!
Our activity really started picking up in October. There were three major auctions in November /Dec (two Larry Miller sales and a Simpson sale) which we spent decent in. We still are far from being back to “normal” numbers, but we are very happy with where we are today. We sold a $500,000.00+ gold coin in early December (our first since March). Plus, this past week, we sold several coins including a few five figure coins. We’re still suffering from lack of coins. We do not think even if the FUN show were to be held there would be any coins there. These days its all auctions. Regardless, life is slowly coming back to us and we think so will the coin market overall.
The dealers who actually did prosper in 2020 were the bullion crowd. Actually in January, you could not give generics away. By the end of June, there were NO generics or some forms of gold bullion available to be bought. Pretty amazing. It also is pretty amazing that coins did not crash like many stocks did.
Legend Numismatics predicts 2021 will be a great year for rare coins,. It may take a few months in, but we expect prices to grow at strong rates. Some prices had slipped in 2020 (like Type) but are showing signs of stabilizing. It is our opinion, the first major show back will be the summer ANA. The typical June Shows (Long Beach or Baltimore) are possibilities, but we can’t see it the way the vaccinations are being slowly rolled out. We’ve almost forgot what its like to travel to a show! At least Legend has learned to survive with out shows.
Next up: the huge FUN Auction. We expect to be major bidders (actually we already bid over $3 million on items). The Simpson Collection has some special coins and many patterns never before seen. If you seek representation, contact us now. We work on a first come first serve basis. With 26 days to go, we are shocked at how much bidding there already is. For sure it will be a strong auction!
THIS MOST LIKELY IS OUR LAST MARKET REPORT UNTIL 2021
LEGEND NUMISMATICS IS GREATFUL TO OUR CUSTOMERS FOR THE BUSINESS WE DID IN 2020. WE DID NOT TAKE IT FOR GRANTED. WE DID GIVE BACK TO OUR COMMUNITIES WHO WERE IN DISTRESS. WE ARE WORKING HARD TOWARDS MAKING 2021 A GREAT YEAR FOR EVERYONE!
NEWPS
Because there are so few coins to be bought today, we have posted only a handful of NEWPS. We’d much rather have a few great NEWPS then several marginal pieces.
Do not forget to check out our regular listings. We only offer PCGS CAC pieces. Our prices are at market and are always based upon what we pay.
For nicer quality and high eye appealing coins, we always pay more. You do not find them trading among average pieces.
LEGEND RARE COIN AUCTIONS
www.legendauctions.com
We sincerely that everyone who helped make 2020 solid year.
We are on final call for our Feb auction. Contact our reps at 732-935-1168 (or via email). They will craft the ultimate plan for you.
Stay tuned. We will have two MAJOR announcements coming up.
We do wish to say our boutique style fits us well. We are not out to become a huge auction house-just the best!
IF YOU HAVE ANY QUESTIONS OR WISH TO ORDER, PLEASE EMAIL US: legend@legendcoin.com. WE WILL NOT HAVE OFFICES HOUSE UNTIL MONDAY JANUARY 4TH.
