WE’RE BACK TO NO COINS
You can buy all the “stuff” or widgets you want. Although most of them are not so nice. Dealers have every few to no cool coins to offer anymore. The only places to find better coins-auctions. This is auction week upcoming, a test as to where the market stands. We fully expect record prices in our sale and Heritage on the nicer fresher coins.
This past week, our sales ground to a halt. Save for one cool coin a $10 1930-S PCGS MS66+ CAC, we sold practically NO coins. We barely have a handful of NEWPS his week. WE HAVE TOTALLY RUN OUT OF NEAT FRESH COINS!
We put out a mass email looking to buy better gold. We thank the people who responded and are selling us some coins. BUT (big but) the amount sold to us was below $75,000.00 total and most coins were generics (we just wanted to have some action). We are almost in a near panic. We have raised our buy prices across the board. We never were a cheap buyer. Today, we’re just getting blanked-on the few pieces we are even bring offered. Its nearly impossible for us to buy out of auction anymore as we are competing with the end users. All this is not only a serious threat to Legend, but to the market in general.
While its great to see the nicer coins are stronger hands, dealers and the market needs coins to trade. It could be a long hard month of May for everyone if something does not break. No shows are now taking their toll (although we think shows are a semi thing of the past). Of course price guides being behind are not helping the masses-nor us as we have to pay much more for our coins.
Here is a scary thought: if the prices guides were even close to accurate, the market would be multiples stronger with prices realized thus really choking things (unless we hit a nirvana where collectors finally will sell).
How this will end? We do not know. We just know there are far more buyers for the coins being offered-if they are even being offered. Without trading the market can easily slump or give the appearance of slumping. There is a wild “on off” reaction in the market without a steady flow of coins. The first two weeks of April were off. We expect the last two-to be on. Crazy.
AUCTION WEEK
This will be a great test as to the strength of the market. Viewing our sale so far, we have every reason to believe prices will realized will be strong across the board. We have many six figure coins (the $10 Proof Indian set especially) that will see six figure world record prices. Of course the Simpson coins will shine yet again. His coins are hitting the market at the exact right time.
Our suggestion, do NOT chase commoner coins in these sales. If you like to play, yes, you can buy them, but stay at a reasonable price. The coins you need to really step up on are the better nicer coins. Look at those as a once shot deal that is now or possibly never. You have to go in with an attitude of when have any others been sold and what is this coin worth in my collection? I’m going to buy it. We do stress however, never to expect the underbidder to stick around if you need to dump in a few months.
If you need representation in any of the sales, contact us now. We work on a first come first serve basis.
NEWPS
We have a monster H.10 1794 PCGS MS62 CAC. It has been off the market for awhile. We never see them like this!
LEGEND IS BUYING
What do we want?
Early Bust coins PCGS CAC
DMPL Morgan’s PCGS CAC
White better date Peace Dollars PCGS CAC
ALL GOLD! Prefer PCGS CAC-we’ll listen to what you have-we want to spend a ton here!
Anything really interesting or special.
Call or email us with what you have for sale. We are world class buyers having spent $4,000,000.00 for an Ultra High Relief last month!
LEGEND RARE COIN AUCTIONS
www.legendauctions.com
THIS WEDNSDAY IS OUR SALE! Final call for phone bidding, auction reps, and terms. Call our team to discuss now. 732-935-1168
We already have strong bidding with near record eye balls. That is telling us this should be more then a successful sale.
Be ready for what coins will bring. Do not assume many coins will “fall through the cracks”. Price guides simply are not up to date. If you need direction about a coin, call us! Good luck bidding!
IF YOU HAVE ANY QUESTIONS OR WISH TO ORDER, EMAIL US: legend@legendcoin.com. WE DO NOT CHECK OUR PHONE MESSAGES UNTIL 9AM MONDAY.
