VISIT US AT OUR REGULAR TABLE 643 AT THE BALTIMORE
SALES SLOW FOR AUCTIONS
Seems anytime there is any kind of a better sale activity dramatically slows in the week up to the sale. FUN and ANA Sale times are murder for us. While we did not have big a sale, we had a good solid sale and that apparently had the attention of many of our customers. Now that the sale (and sales) are over, we expect activity to gravitate back to normal.
It took Legend 40 years to build up the substantial customer base we have. A lot of teaching, guidance, helping, and other work went into it. Legend Auctions has been around for about 7 years and has triple the number of customers already. It seems with every auction LRCA picks up more quality new people then Legend Numismatics does in 6 months. Collectors just LOVE auctions.
We do not mind this-as we saw this trend coming almost 15 years ago. These days you can stay at home and view quality images of quality coins. You do not see great coins much anymore on the bourse floor. Most major coin shows are slowly on the demise because of this. In our opinion, eventually they will become dealer to dealer events. Even worse for dealers, collectors have tools to use (like CAC and published price guides) in which dealers really are not needed anymore. Even though that do-it-yourself attitude is much safer than years ago, collectors do not realize they do still need dealers’ guidance for both the coin and pricing. Yet more people buy out of auctions today than ever. They love the thrill of bidding. More people also buy many coins they should not. But they really do not seem to care as they buy in auction after auction. We know we’re suffering from a bit of auction burn out right now. The sales just do not stop-there are 3 auctions in November with NO shows attached. Legend is expecting a slower month because of that-but we shall see.
However, it is safe to say that auctions are what have dramatically expanded the coin market. So, we take the good with the bad. We do highly recommend you use a dealer to guide you through auction buying., Sometimes your best buy is the one you do not make!
REGENCY AUCTION 55
Another successful sale-abet a bit smaller. We organized this sale at the last minute, so it was not one of our biggest or best sales. The grand highlight was the $5 1831 LG D PCGS MS65+ CAC Ex Pogue. It brought a whopping $387,750.00! Next in line was the fabulous $20 1893-S PCGS MS65 CAC Ex Akers plate coin. That coin brought $58,750.00. In this sale, gold clearly lead the way. A collection of NGC $2 1/2 Indians in GEM pretty much outperformed the market. Post 1929 Walkers were highly represented and faired extremely strong with multiple bidders for each coin. Example: A 1942-D PCGS MS67 CAC brought $1,292.50 vs a $900.00 estimate. Overall, the sale was stronger than we expected and of course was a success.
Next up: Sunday night is the close of our Internet only sale. Good luck!
A GOLDEN RECOMMENDATION
We normally do not make general public recommendations. BUT we think the timing is right: BUY BETTER GOLD COINS NOW.
Yes, gold coins have been strong for the last 2 years. Saints are up, up, and away, Other better coins have been bringing strong to record prices when sold. Why buy these coins now? We believe the economy is headed for trouble while who knows if Putin will use nukes and disrupt the world. Gold (not crypto) is still a store of wealth and is considered a safe haven., It is our opinion collectors and people in general will hedge with hard assets. Diamonds, cars, and art are still at record levels. The coin market certainly has no flood of better gold coins available. Better gold coins have always held their ground during times of turmoil.
We suggest either building a box of 20 or a Gold Type set. GEM MS gold is always the best, unless you have GEM AU examples of really rare dates. We expect the market to be quiet until the FUN Show-which means it will be a great time to buy-assuming you can find the coins.
Call or email us to discuss what we can do for you in their area. We can supply you with MONSTER gold and or guide you safely through any auction. We’ll build you the right sets!
NEWPS
We have a wonderful group of NEWPS this week. As always, we did our best to find coins for all tastes and budgets. Highlights include:
1C 1858 LG LT PCGS PR65+ Cameo CAC WOW!!!!!
$1 1861 PCGS PR64 Cameo CAC TOUGH COIN!
G $1 1851 PCGS MS68+ CAC ONE OF THE FINEST!
$20 1906-S PCGS MS64+ CAC RARE!
All coins we post are handpicked for their outstanding qualities and eye appeal. We retail ONLY the BEST PCGS CAC coins. Our pricing is always predicated on what we pay. We work close!
We expect to have many of the RS Collection of Walkers posted next week. These coins have been off the market for over 25 years. FINALLY! Stay tuned!
LEGEND RARE COIN AUCTIONS
www.legendauctions.com
Our boutique sales more than get the job done! Regency 55 was another successful sale. Now it’s time to move on and work on Regency 56-which will take place December 8th in Las Vegas at the PCGS Invitational show.
FINAL CALL FOR CONSIGNMENTS FOR AUCTION 56. OUR STAFF WILL BE AT THE BALTIMORE SHOW ACCEPTING CONSIGNMENTS. GENEROUS CASH ADVANCES AVAILABLE!
Highlights from this sale will be on display at the Baltimore show. Come check them out!
If you can’t make the show. we need all coins in our office no later than October 28th. Call or email the BEST staff in the auction the biz! 732-935-1168
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
