LEGENDS OFFICES WILL BE CLOSED THE WEEK OF THANKSGIVING. WE WILL BE REACHABLE VIA EMAIL
TWO MAJOR AUCTIONS -AT THE SAME TIME!
It is extremely rare that BOTH Heritage and Stacks had auctions at the exact same time! As a testament to the market, BOTH auctions were highly successful. This is supposed to be a “quiet” time for coin sales.
Where are all these buyers coming from? There sure are a lot of them. They seemed focused on auctions. Meanwhile back in our offices, we sold only 2 coins through Friday-one was a $220G coin though. We expect a full “dead cat” bounce over the weekend once the auctions end. Its the new trend.
When there are major auctions, it sucks the life out of dealers like us. We keep saying an all auction all the time format is coming. Forget about if collectors can save money by buying a coin direct from a dealer. Collectors love the action. The prices more than prove it out! In fact, we thought the prices realized during the two sales were strong across the board. The big highlight in Stacks was the incredible $20 1885 PCGS PR67 Cameo CAC. That coin brought a moon money $990,000.00! We chased (and lost) the $10 1795 PCGS AU58+ to $288,000.00. Congrats Harvey! Heritage has a1851 Slug PCGS AU55+ CAC we wanted that sold for $180,000.00. NOTHING of importance sold cheap-especially if it had a CAC bean. NOTHING.
We can clearly say the current market is a bit hit or miss but is clearly active in many areas.
A NOTE ABOUT BETTER GOLD
It seems what everyone is paying in the auctions are the new market levels. We can not buy any better gold below CU (unless CU is a bogus number for whatever reason). In fact for the vast majority of gold we like, it costs us significantly OVER published prices to buy.
We suggest you pay more attention to ho high end is the coin and to its pops. In the recent Fairmont Sale we did just that. When a coin has LESS then 10 graded and a CAC pop of 10 less we are not afraid to stock it a premium. When and where might you find another. Plus, dealers use auction prices realized more then published prices. So to pay 5-12% over for a true quality rarity is not much if your a long term thinker.
Look more towards the auctions prices for realistic numbers. Try to understand the coin that was sold (was it high end?). Do not be afraid to allow a dealer a profit! We do say sometimes your best auction purchase is the one you do not make. BUT, in the case of better gold, you may be sorely limited on opportunities. We’re world class experts in buying coins from auction. We can help you-call or email us.
Still waiting on the RS Walkers. So painfully slow. Most are still being graded or are at CAC. We might have a person on Mars by the time they are done! Until then, look at these great NEWPS:
50C 1939 PCGS MS68+ CAC Gorgeous rainbow colors!
$1 1880-S PCGS MS68PL CAC OGH. Almost a DMPL!
$20 1906 PCGS MS64+ CAC Awesome looking!
We have many other great NEWPS as well. Check them out. Also check out our regular PCGS CAC inventory of handpicked ALL high-end coins!
Sorry! We are sold out of the frosty white below $5,000.00 Morgans. We had people call up asking what we had. It was a surprise to us how strong that market is. Now if only those RS Walkers would get done already……
LEGEND RARE COIN AUCTIONS
The majority of the watch list for Regency Auction 56 is now posted. There are a few more coins to be added. Remember, the descriptions are not edited. D
Regency 56 takes place December 8th in Las Vegas at the PCGS invitational show. Three Collections highlight the sale An MS Indian Cent Collection, a Bust Half Collection, and a GEM 1C Matter Proof Lincon Cent collection.
There are many other great coins included in the sale. Check them out. We expect to be open for bidding next Friday.
The Internet ONLY sale is very important. It will have over 50 OGH Walkers from AU58 to MS66 (common dates) in the early holders. There are many interesting coins in the 250+ lot session.
We are always accepting great coins for consignment. What do you have? Your coins do not get lost in a 4000 lot auction. We’re not a shady Inernet Auction company-we have real bouse floor trained numismatists! WE GET THE JOB DONE! Call or email the BEST team in the business: 732-935-1795.
IF YOU HAVE ANY QUESTIONS, OR WISH TO ORDER, EMAIL US: email@example.com. WE DO NOT CHECK OUR PHONE MESSAGES UNTIL 9 AM MONDAY