THE CALM AFTER THE STORM
As we expected, things were very quiet this week in the office. We’re happy about that. It was a brutal two weeks for us. Only 2 NEWPS were posted when we were done with the auctions which was a record breaking all time low for us after an ANA Show. We had no reason to expect to do much business.
It is our estimate that between the ANA Show and the auctions over $100,000,000.00 in US coins traded hands. Even though in the art world that is only one painting, in the coin world that amount is really staggering. An interesting note, only two coins sold above $1 million dollars in the auctions-the fabulous $5 1825/4 PCGS PR67 Cameo CAC sold for $4,100,000.00 and the $20 1927-D PCGS MS66 Simpson coin which sold for $4,440,000.00. We’d call it fair to say the majority of the bigger coins are in extremely strong hands right now.
This year we’ve had so many great coins come to market, ALL to be quickly absorbed. We like to say most coins are one and done. You do not see better coins going from dealer to dealer anymore. What we call a big black hole only seems to have gotten larger with every major auction. Who are these people? Will they hold long term? So far, it seems they understand the coin market. There are some mind-boggling collections bring formed these days.
This drought of neat coins does not just affect the expensive stuff. Coins priced $2,000.00-$10,000.00 that are neat simply cannot be found at all anymore. We have not had an 1883-CC in PCGS MS65 DMPL CAC in year! Can’t find nice MS 64 PCGS CAC Bust Halves. We could go on and on.
It is our opinion, the market for nice coins will remain solid to strong for a very long time. As more people become involved with coins, the finite supply will only be stretched out even further. We strongly advise collectors to stretch and buy one-time coins now. We did this with several people in the recent auctions. While they may have paid premiums, they got the coins. In 5-10 years they will be thrilled with the financial rewards the coins should offer. We cannot stress enough; coins are a LONG-TERM hold. Yes, they have short term cycles, but the most money to be made historically has been when you buy the BEST quality you can afford and hold long term. Best example: Bob Simpson. he made a fortune. He had multiple coins where he made over $1 million per coin ($1 1794, $20 1861, etc)! He made over $50,000.00 on his 50C 1942 Proof Walker-a coin we sold him for $12,000.00. These are factual results, not hype or dreams.
Sadly, we see too many collectors who simply do not buy right. We strongly advise you buy PCGS CAC coins-especially if you buy gold. Also, buy coins with good to strong eye appeal. You can have a PR68 Walker at $4,000.00 and the same grade at $15,000.00 (or like Simpson-$60,000.00). How does this happen? One looks far better and is HIGH END. Quality and eye appeal will always reign supreme. And for the record, we are not saying if you are a price shopper you will fail. You just have to try for decent looking coins. Do know they are priced less for a reason. On off coins you cannot expect radical profits like the nicer coins bring.
LEGEND AUCTIONS REGENCY 54
At this point in time we’d normally have decent eye balls and not so many strong bids. This sale is defying the market!
Eyeballs and pre bids are stronger then we have seen for any auction this year. Looks like all the market really is doing is taking a deep breath and preparing for the next great auction (Regency 54).
Three collections highlight this sale: The amazing Perfection Collection of top MS Bust Halves (ALL PCGS CAC but one), A magnificent PR Barber Dime collection, and neat Oregon Commem Collection. There are lots of other great coins sprinkled in. We expect strong to record bidding for these sets. Be prepared!
If you have any questions, or wish to set up phone bidding call us: 732-935-1168.
WE STILL THINK ITS TIME TO TAKE SOME PROFITS
Yes, an awful lot of coins have surfaced in the past year. Simpson led the way, but he had a forced divorce sale. Bass, will hit the market next. After Bass (which we’re told is 4 sales), we do not see any more gigantic collections coming to market (but you never know). With prices high, NOW is the right time to take profits or sell your collection.
Legend can easily handle any collection or single coin up to $10 million dollars. Or, we can take your coins on consignment (a favored way) or sell them through Legend Auctions-a powerful boutique Auction house. The coins do NOT have to PCGS or CAC.
We’re here to assist you. Call or email George Huang. email@example.com
We surprised ourselves! For the Holiday weekend we have a very decent selection. As time goes on, we do expect to get our coins back from CAC and have even bigger offerings.
25C 1882 PCGS PR67 CAMEO CAC
$2.5 Libs a small selection we just acquired from a discriminating collector
$5 1855-C PCGS AU55 CAC
$5 1910-S PCGS MS64 CAC
$20 J-1039 1870 PCGS PR66+ CAC
We have many other fairly priced real quality coins for sale. These are a great bunch of NEWPS!
LEGEND RARE COIN AUCTIONS
As we said before, Regency 54 has a real good buzz going. If you need any assistance, please email or call the auction company at 732-935-1168.
FINAL CALL FOR CONSIGNMENTS TO OUR OCTOBER REGENCY 55 SALE. We already have some fabulous coins-including a $20 1893-S PCGS MS65 CAC and a GEM Set of $2.5 Indian Gold-all from an estate!
It does not matter if it is one coin or a multimillion dollar collection, our team can handle it. Your coins never get lost in a blizzard of thousands of lots. Our customer bases includes the powerhouse Legend Numismatics clientele-some of the biggest and certainly best in the hobby!
IF YOU HAVE ANY QUESTIONS, OR WISH TO ORDER, EMAIL US: firstname.lastname@example.org. WE DO NOT CHECK OUR PHONE MESSAGES UNTIL 9 AM TUESDAY