No one could figure out why things have been slower for the past two weeks on the retail side. It is our strong opinion that the auction scene could have caused the slowness. It sort of snuck up on everyone. This past week there were 3 MAJOR sales. The first sale included Part I of the late Stuart Blay’s Indian Cents and MS/PR Barber 10C. You better believe most of those coins brought “moon money”. The Blay collection is one of the few collections we would buy any coin sightUNEEN! Next up was Stacks. We were stunned all non CAC coins sold really strong in this sale. Our bids on the Fairmont coins easily got blown away and we thought we were strong. The action overall was surprisingly strong. Next up, the always strong Heritage auctions. The week ends with the reminder of the Blay Collection. All told, the collecting public had the chance to play on tens of millions in choice coins. So, we shall see if our theory was right. By Saturday we’ll see if there is what we call a “dead coin” bounce where collectors start shopping on the web again. We’ve seen this happen so many times-especially after ANA Auction week.
Overall, the market does seem a bit quiet. Like the ultra-rare Ferrari that just sold for $51 million, just below its top estimate, coins are pretty much in the same pattern. The fresh and better coins are still bringing strong money. The average coins-even if they are rare are less. After all these years, we still do not understand collectors’ buying habits. NOW certainly is an off time. Why do collectors wait until the market is going up to buy? You make money by buying low and selling high. You can get MANY great deals by buying TODAY-especially NOT in auction. In our opinion, people should load up on gold coins now. You know gold can explode any day. But we’ll sell the heck out of them after gold starts running.
THE DEEP BLACK HOLE
A few months ago, we suggested people do sets like a PR66 Buffalo collection. We started one for a collector. We’ve been stalled. Hard to believe we cannot even find a simple coin like a PR66 CAC 1915! So where are all the coins? We believe they are all in that deep black hole. We started thinking about coins we have NOT seen: nice PR 2C pieces (all colors), 3CN’s in MS, PR 5C Buffalos, 10C Proof Seated Dimes, MS Barber 25C, MS Seated halves, $1 NICE Bust Dollars, MS Seated Dollars, DMPL Morgans (you can buy a few CC’s, but certainly not many other dates), and the list can go on and on. These coins are buried deep in the collecting world. They do not even come out these days when the market is rising. That is another reason why you need to buy today if something does pop up. There are so many more collectors buying coins today than we ever dreamed could. And most are collecting coins right-buying to hold for the long term. Always keep in mind that coins have cycles. BUT if you buy quality and hold for the long term, you will be fine.
NEWPS
We pinch ourselves over this week’s offerings. Somehow, we even managed to buy some nice DMPL’s you do not see too often. We expect them to sell fast. This week’s highlights include:
1C 1877 PCGS PR65+RD CAC
50C 1881 PCGS MS67 CAC
50C 1896 PCGS PR66+ CAC MONSTER COLORS
$1 1891 PCGS PR65+ CAMEO CAC ELIASBERG/JACK LEE
G $1 1882 CACG MS68 CAC
We do have a Blay coin-a SUPERB 1894 PCGS PR67 10C. Take our word on it, if it was in his collection, its good enough for ANYONE!
Of course, we did our best to include coins for all tastes and budgets. One thing we NEVER skimp on-quality and eye appeal.
Be sure to check out the coins in our regular inventory. relative to their quality, most of these coins are super reasonably priced!
NOTE: LEGEND NUMISMATICS WILL BE CLOSED DECEMBER 13 UNTIL WE RETRUN FROM THE FUN SHOW. OF COURSE, WE WILL BE ACCEPTING ORDERS AND DOING LIMITED BUSINESS DURING THAT TIME. WE WILL BE CHECKING OUR EMAILS DAILY.
LEGEND RARE COIN AUCTIONS
www.legendauctions.com
Our Regency 62 sale is now posted and is accepting bids. We have good action already. The sale closes December 7th with a live session in Las Vegas. When you get bored of your obnoxious uncle at Thanksgiving, go check out our auction! It’s a great sale with some really exceptional coins. There are 3 exceedingly rare DMPL’s , 1879-CC CAPPED DIE PXCGS MS64 DMPL, 1879CC PCGS MS65 DMPL and an 1893-CC PCGS MS64 DMPL that have been off the market for at least a decade!
Our next sale is in late February in Philadelphia. We already have 2 million dollars’ worth of phenomenal coins highlighted by a $4 1879 PCGS PR66+ CAC! All the coins are being sold UNRESERVED! Start saving your money for this sale.
You will for sure want to include your coins in this sale. We may be smaller, but our coins get a higher rate of exposure not getting lost in a massive sale. Plus, the powerful customer base of Legend always participates. Call the best team in the auction biz led by Jessica Berkman. They will tailor a plan to maximize your returns. Contact: jessica@legendauctions.com. Or see the staff in Las Vegas. FUN Show is the deadline.
IF YOU HAVE ANY QUESTIONS OR WISH TO ORDER, PLEASE EMAIL US: legend@legendcoin.com. WE WILL NOT CHECK OUR PHONE MESSAGES UNTIL MONDAY 9 AM.
