AFTER A RECORD BREAKING FIRST QUARTER
Its nice to have a lull to catch up and rest. The next explosion of the coin market will be the week of April 20-24th when its auction time. Judging by the eye balls, registrants and early bidding, we fully expect our Regency 44 sale to set many record prices-ditto for the Heritage sales.
Our buying this past week was slim ($10,600.00) although we did get offered an exceptional six figure coin we are the process of finalizing. No one had anything new otherwise.
This temporary lull is a great time for collectors to step back, assess their goals, clean out their duplicates, and set their sights on adding to their collections. We predict coins will NOT be cheap in either of the upcoming sales. We are here to work with you! Email or call us with any questions.
THE FUTURE OF SHOWS
We fully expect the rare coin market to remain strong through out the rest of the year. Clearly, the majority of coin buying has been transformed to online. ALL auctions houses have enjoyed record growth without having any shows to show their lots. Many dealers we know have not missed a beat selling wise with out shows.
The major shows need to wake up. Forever we have called for 2 Long Beaches and 2 Baltimore Shows per year (vs 3). Look what just happened: we all managed to survive with NO shows last year. We even know of several dealers who have claimed they will not travel any more. Even the auction houses have all realized they do not need shows to have successful sales. It will be a different landscape once shows resume. Small shows (including the PCGS Invitational) maybe the future of coin shows.
Last, think about this, there are NO quality coins available currently. Even if there was a show, where would the coins come from? Dealers certainly are not sitting on coins. A big show right now in our opinion, would be a costly train wreck for everyone. We think the ANA Worlds Fair of Money will be the first major show back. They are limited to 300 tables. Who knows, that might make for a better show? The PCGS Invitational shows are doing just fine.
It is our strong opinion that coin shows-especially oversaturated big ones are done. The pandemic clearly has reshaped the way we buy and sell coins. Most shows have been blind to the fact they were losing attendance any way (like ANA which will be only 300 tables this year). It will be very interesting to see how this all shakes out.
SOMETHING TO THINK ABOUT
Out of sight out of mind is not good for coin values. Here is an example: 20C 1875-S PCGS PR64 CAMEO CAC. This piece is the FINEST Proof. Is this coin worth $100,000.00, $350,000.00, or $750,000.00? There are only 2-3 known. There is NO auction record for this piece since 2004 ($103,500.00). Other branch Mint Proofs with higher survival sell for more (because of exposure). The current Collectors Universe Value shows only $140,000.00. We PAID $350,000.00 for this piece. This coin will be off the market for many more years. Out of sight out of mind could actually stunt this coins value.
We can point out so many other coins in this situation. Why aren’t certain coins worth more? Lack of exposure certainly does not help. What can a collector do?
Its an interesting discussion we recently have had concerning coins of this caliber.
NEWPS
Yes, we are light on NEWPS again. BUT the quality and eye appeal of what we have posted more then makes up for the shortfall.
The highlight:
$5 1874 PCGS MS64 CAC POP 1 FINEST KNOWN
We have a few other nice gold coins in our NEWPS today.
LEGEND IS BUYING. WHAT DO YOU HAVE FOR SALE?
LEGEND RARE COIN AUCTIONS
www.legendauctions.com
Bidding in our Regency 44 Sale is strong already! Remember, great coins are not growing on trees these days. You have to pay more-much more for real quality. So be ready!
We need to remind people this sale is WEDNESDAY April 21st-NOT Thursday!
If you have any questions or wish to order, please email us: legend@legendoin.com. WE DO NOT CHECK OUR PHONE MESSAGES UNTIL 9 AM MONDAY,
