WHAT HAPPENED TO APRIL?
WOW, how time flew. The only good thing about April, we saw a glimmer of activity at the CSNS show-a show that has been in serious decline for years. This past week we heard even more positives about the market. A friend called us to say he sold a $200,000.00+ Large Cent, another said their retail is doing just fine. We weren’t sure how long it would take to recover from tax time, but we seem to finally be working our way to an upward trending market.
We had a very interesting week. Our sales were nothing to brag about, however our buying was for a change. We are working on two million dollar plus and super exciting deals. Also, out of the clear blue sky a major dealer called and offered us some of his personal coins. One of them (an MS Lincoln Cent) is probably the wildest toned Lincoln we have ever seen (and we handled the PR67+ 09VDB)! We originally wanted to name it M*F**ker Incredible (really), but have decided on The Beast. All the other coins of course were Legend caliber too.
It is still our very strong opinion, May/June will be strong months for the coin market. We see people coming out of hibernation. This time there are very few coins for them to buy (its not like awakening for FUN where there usually is a lot of stuff).
Collectors are now coming to terms that most price guides are wrong. You can see it at the major auctions. If a coin has been off the market since 2012 (which even though it seems like yesterday it was 7 years ago), collectors now realize, the price they pay for the coin is today’s new market price. This is slightly helping causing a few more coins to appear for sale.
You can’t beat now for buying coins in “off” series. Look at PR+MS Seated Type. MS+PR Barber Type. 3CN’s and 2C pieces are just insanely cheap right now. Even Buffalo Nickels. In the last group we mentioned, you can complete series in them. The PR Type (STD and Barber) you also can complete full sets with out breaking your budget. There are really so many areas to buy in or even start a collection with that are such good deals.
If you want to buy “off popular” coins, call or email us. We can guide you into the “right” pieces.
Note: the coin world is still bone dry of great PCGS CAC gold. Its more than just being in strong hands, its total lack of supply.
STAY WITH TRUE QUALITY
When Legend builds a set-any set, we always strive for the very best quality. Our sets do extremely well because we never seek to fill holes (unless a coin really is more then worthy) or cut corners and buy a marginal piece.
Too many people are too eager to fill the holes. We are telling you, it is NOT worth it most of the time. Things that can happen, a better coin does become available and you need to trade (it could be a cash coin where they won’t take trades or it could be in an auction), or a coin could be just butt ugly. It is our firm belief having a hole is by far much better. Not all the time is it about the completeness of the set, its about the coins in the set.
The value is not just in the rarities. Its in the WOW factors/eye appeal. And yes, generally you have to pay more for the very best eye appealing coins. We’re not talking about things like MS68’s. You could be building a set where MS65 are the tops. Always, buy the BEST coin you can afford. Never settle for inferior coins.
Its always far easier and much more profitable to sell a collection made up of really nice and eye appealing coins.
A WARNING WHEN BUYING
In this auction crazy buying world, be careful of where you buy. Why people buy from Internet Only sales with NO descriptions is a wonder to us. We just had a customer step out and buy a coin from a major internet only action. Turns out the reverse of the coin he bought had serious problems that the image did not show correctly. This was not the first time he bought a bad coin from these people. In fact, we have had the same experiences with this group too (as have a few others we know). Slick marketing does not address the quality being sold. In many cases, these companies are looking for victims.
A major auction house should always comment about any problems and offer full descriptions. Further, because there are no real numismatists on staff many of these companies they are mules for the coin docs. You are not really going to acquire the best coins at these places. Buy from private proven dealers or well known major auction houses with real numismatists on staff. There are NO gifts in this hobby from these machines.
NEWPS
This week we have a little powerful offering of NEWPS (finally). Highlights include:
5C 1914 PCGS PR67+ CAC
50C 1830 LG O PCGS MS65+ CAC
50C 1867 PCGS MS66 CAC
$10 1914 PCGS MS66+ CAC
ALL NEWPS ARE NOW POSTED!
Yes, we did buy a few of these coins out of the CSNS Sale. We did so because they represented such good deals. In many cases we had expected to pay more for certain coins. Take our word on it, we picked through the sale and did all the hard work for you!
Buy now while gold and the market are at low points. We know these levels will not last much longer!
LEGEND RARE COIN AUCTIONS
www.legendauctions.com
Less then 2 weeks and counting now for our Regency 32 Auction to close. Already we have record eye balls and some surprisingly strong bidding. We probably say that a lot with every sale, but we are in awe as new registrants participate and the numbers just keep growing.
There are just too many coins to mention that are highlights. We suggest you a lot your self as much time as possible to browse through the auction on our web site. You might even want to place some bids! There is no question Legend Rare Coins auctions offers the BEST coins on the market-many have been long time holdings of Legend Numismatics customers. You can always bid with full confidence in our sales.
Time is winding down with the sale less then 2 weeks away. We strong suggest you contact us today to discuss phone biding, extended terms, or counseling/representation. Sorry, we can not help with these within 48 hours of the sale.
FINAL CALL FOR REGENCY SALE 33, JUNE 26th
Last call to consign to our June 26th Regency 33 Sale. This sale will take place in Las Vegas at the Cosmo. Space is very limited (and we mean that). Contact anyone of our reps today-we assure you they will craft the best deal for you(including even a hybrid deal).
Julie Abrams julie@legendauctions.com
Jessica Berkman jessica@legendauctions.com
Greg Cohen greg@legenductions.com
IF YOU HAVE QUESTIONS OR WISH TO ORDER, PLEASE EMAIL US: legend@legendcoin.com. WE DO NOT CHECK OUR PHONE MESSAGES UNTIL 9 AM MONDAY
