BACK TO THOSE CRAZY ART AUCTIONS
“A record 32 works sold for more than $20 million, according to Pi-eX, and 54 works sold for more than $10 million. The total for Christie’s was $1.14 billion, at Sotheby’s $1.34 billion and at Phillips over $170 million.” As per the WS Journal.
“NFTs, or nonfungible tokens, also made a cameo at the fall sales. An “NFT-powered” sculpture by the digital artist Mike Winkelmann, better known as Beeple, went for $29 million at Christie’s. The sculpture is a 3D, 7-foot-tall digital lightbox made of four LED screens that shows an astronaut strolling through ever-changing landscapes. The buyer was crypto-focused Swiss venture capitalist Ryan Zurrer, who on Twitter praised Beeple for the “visionary innovation, amazing new energy and hilarious positive vibes that you’ve brought to both crypto and art.
It became the second highest price ever paid for an NFT after Beeple’s “Everydays: The First 5,000 Days,” which sold at Christie’s earlier this year for $69 million.”
In our opinion, this is all crazy. But it is the state of the markets. Take our word on it-some of this crazy money IS for sure seeping into coins-in ALL price ranges. It won’t take much for our market to go totally haywire especially since there are so few coins to begin with (there is NO discrimination of value). We mention art because its a universal indicator of how much money is out there. The top end of the coin market (Legends specialized area) does indeed follow the art market.
We could talk about other collectable areas, such as cars or even furniture. But they are not making as much noise as the art world. Or in non-collectables, how about the heated housing market? Here at the Jersey shore million dollar plus homes are selling as fast as they are being listed. This is NOT hype, it’s all facts. Today, most better coins will cost you more.
Legend would like to make this totally clear: Legend Numismatics has no known crypto billionaire customers. Ken Griffen does not know us nor do we do any business with him (as a monkey on a chatroom indicated). We are close to a few people who have made serious money in the area, but no crypto billionaires are buying through us. However, we can factually state we are close to a few dealers who do have them-and we see what they are buying. Collectors who do not buy classic rarities have no idea how these big guys who are so flush with cash are disrupting the upper end of the market. Just watch the Heritage FUN sale on the Simpson coins-you WILL see beyond moon money prices. The coin market is clearly attracting many people than just the crypto guys. There is ungodly sums to be spent out there. This is why we have been saying to take some profits. Once everyone’s tummies are full and the money stops flowing, it could be very rocky. We’ve seen this happen before.
Status of the market today: GOLD IS WHITE HOT. Nothing changed there. Type is still hit or miss-so we are NOT in a bull market. Things like MS+PR 3CN are still tanked. Bust 25C too. But put a better PCGS CAC Saint up for sale and shazam: SOLD-even if its $350,000.00 and premium priced like the one we just sold! If you don’t believe the strength of the current market, watch the FUN Sale. You might have some decisions to make as to whether to keep trying to build something or to be a seller.
All these years with people saying they wish someone like Bill Gates would buy coins-well its really his ilk who are dominating the coin market. On the non rarity side, its just ordinary folk with a lot of extra cash. Our sales this year will RIVAL 2008 when we did just over $100 million-but then $38 million of that was the Pattern deal. in 2021 we sold an awful lot of coins.
We are here to help if you have questions.
A NOTE: CHATROOMS ARE GARBAGE
Chatrooms are vile places. Most top collectors and dealers now avoid these places. The vast majority of what is written on there is garbage and is the furthest from the truth. The majority of dealers who troll the places are just looking for biz. Its a joke when people claim to know this and that and never have been to a major show and are not involved in day to day transactions.
Last week a no nothing posted this:
I won’t expound.
Okay, post your real name and what do you collect? Is this a jealous competitor? Or just someone who wants to think they are some kind of hero? Its just more garbage. Now the monkeys are claiming we have an alt-more trash! Its okay, they can live in their own self absorbed none reality worlds. Who are you going to listen to? Someone with no experience or someone with 40+ years of a stellar track record like us? SUCH GARBAGE these place spew!
Legend Numismatics has built more #1 sets of classic coins than ANY ONE. REAL #1 sets. You see the Simpson coins being sold? We sold him 100% of his incredible collection. Dealers call us daily for help figuring coins. We know how to grade. We are standing alone in publicly leading the fight against coin doctors (PNG Where are you?). Legend is also an unquestionable major market maker. So we know what is going on. We do NOT need to hype anything-nor do we. Our reputation is beyond solid.
And here comes a no nothing making a totally ignorant comment. There is so much WRONG info on these chatrooms, they are NOT the place to go. A new one that will have real information and really be monitored is about to come on line.
NEWPS
This week, we added a few Half Dome coins. Who is Half Dome? Our exclusive customer for the last 10 years who we built the #1 all time $5 Indian set, The #2 $10 Indian set-behind Simpson, and the #2 Saint set-again, behind Simpson. Quality has been his main obsession. He is not done collecting by any stretch. Of course we delivered. ALL his coins are CAC!
We are still trying to buy. Hopefully we’ll come up with more than just gold for next week.
Do not forget to check out our regular inventory. We have some great PCGS CAC coins. They won’t last forever!
LEGEND RARE COIN AUCTIONS
www.legendauctions.com
WOW! Our Regency sale 49 is in full swing of pre bidding. You’ve heard us say before we have had off the charts eye balls. Now we have BEYOND off the charts eye balls and pre bidders-OMG! You would think the sale was next week. But then look at the neat coins we are offering-especially the gold.
Start making your plans for the sale. We are here to help.
We also have a weekly market report on the site.
FINAL CALL FOR CONSIGNMENTS FOR JANUARY
LRCA has the best team in the auction biz. They will create the ultimate plan to maximize your coins value. Call or email them today!
We will have a MONSTER January Sale! Already in: The Naples Collection of EARLY $5 Gold pieces-most MS62-MS64, a MONSTER Collection of Proof Morgans, over $1 million dollars of Half Dome duplicates including a $10 Rolled Edge in MS65+. There are many more great coins already consigned. Your coins will not get lost in our boutique platform. Time and space are running out. Call 732-935-1168.
IF YOU HAVE ANY QUESTIONS OR WISH TO ORDER, EMAIL US: legend@legendcoin.com. WE DO NOT CHECK OUR PHONE MESSAGES UNTIL 9 AM MONDAY.
