WHAT A WILD WEEK
We do not know any one who did not get whipsawed at the very least from last weeks everything happenings in all markets. It’s obvious that for our own good, America is pretty much closed until the end of April. We realize though for 90% of the country, life does still go on. And so does the creaky old coin market.
It would be a lie to say coins did well this past week. However, we were stunned that people are still buying. Guess not everyone is panicked by the stock market. Some collectors just wanted a creature comfort-and for them coins were it.
We witnessed a $1,600.00 coin make a very wealthy individual very happy last week. He admitted he simply does not feel rich anymore and even though he could afford it, buying a big coin just did not seem right (his typical purchase is $20-$45G). An FYI: the biggest ticket sale to a collector Legend made this past week: $130,000.00-a gold coin of course (not on the web).
As of this report being written, Congress passed their relief bill. We’re now reading all over pretty much that at the latest May 1, America will be open again for business. We’re hoping by then the fear has subsided and the virus has leveled off. Until then we all have to step back and adjust our lives to it-including our coin buying habits.
The good news, you can buy coins from the comfort of your own home. You have a higher chance of getting the virus just going to the store these days. Coins are better then comfort food!
Legend Numismatics will remain open to do business. We’ll do our best to keep offering fresh NEWPS (that was difficult before the virus) and keep a live marketplace for coins. We will also abide by all CDC rules and health standards when handling and shipping coins. Of course we deeply care for every ones health around us and for our employees. Our expectations are not for much during this next 34-45 days, but we do not expect a full stop.
So sit back, grab a cold one, and relax, we’re just a few clicks or a call away! We do our best to provide the public with a web site with coins better then what you would see at shows these days!
THE COIN MARKET
There are certain areas that are doing great ($1,000.00-$4,000.00) while in other areas just dead. We are shocked that big ticket Proof Gold has held up nicely with few declines. Much to our shock, silver Bust coins are weak.
And then there was gold. OMG, no one expected such a roller coaster in the prices of gold. Before the prices of gold coins could react the price of gold seesawed hard ($70.00 a day swings). This was unheard of movement.
We are forever gold bugs. We still think it is beyond safe to buy gold today-its just a matter of what you buy. We wish we had MS64-66 Saints. We wish we had MS65-66 $2.5 Libs. For the most part, like everything else, certain issues in gold will fall because the whole market is on reset for 30 days or so.
Life will be slower and painful for the coin market the next few weeks. Although we are seeing more “I” people starting to shop (investors). In a few areas prices will crash. In other areas where there are clusters of collectors they will continue to do well (think Standing 25C and Walkers). REAL opportunities abound right now!
The bottom line-dealers need to make a living. So biz needs to be done. You’ll be able to stretch your money far right now with little resistance. By May, all these opportunities should be gone-long gone as we all shake this horrible outbreak off.
Final word: unless you really need cash, now is NOT the time to sell. Dealers face no major shows for months now that Baltimore and CSNS have been canceled. Sure, we can all use the mail, but we can’t shop material around as much. Buy prices will not be strong in many areas (got any better Standing 25C or $10+$20 Pr gold?).
NEWPS
We are SUPER proud of our NEWPS this week. We just wish we could have been loaded with comfort coins.
Highlights include:
3CN 1866 PCGS PR67 DCAMEO CAC
25C 1862 PCGS PR65+ CAMEO CAC
$2.5 1804 14 STARS PCGS AU58+ CAC
$10 1799 LARGE STARS PCGS MS63+ CAC
You really need to check out our entire inventory this week. We have many hidden “GEM’s” for sale that make such terrific sense at today’s lower prices. Of course we’ll cut the best deals possible to make you feel even more comfort!
FINAL CALL FOR REPRESENTATION IN THE STACKS SALES THIS WEEK. YES, WE WILL BE ATTENDING! Email: lsperber1@hotmail.com to discuss NO LATER THEN WED.
LEGEND RARE COIN AUCTIONS
wwww.legendauctions.com
LEGEND AUCTIONS REGENCY 37 IS STILL ON! PCGS HOWEVER WILL NOT BE IN ATTENDANCE.
Be assured we are doing everything from handling the coins, to showing the lots, in the safest ways.
Need a description by a real numismatist? Call and ask for Greg Cohen. Greg really will tell you if a coin is or is not for you. Need pics sent? Need to discuss phone bidding? Need to look in private? Need terms? Call now!
We have no immediate plans on closing or changing the venue location. Of course should that change we will inform everyone asap.
Regency 37 has many wonderful coins. Highlighted by the Seattle Collection. Enjoy the sale!
For further questions, please call : 732-935-1168
IF YOU HAVE ANY QUESTIONS OR WISH TO ORDER, PLEASE EMAIL US: legend@legendcoin.com. WE DO NOT CHECK OUR PHONE MESSAGES UNTIL 9 AM MONDAY
