DISAPPOINTING MONTH
Typically October is a very good month for us. In the end, our numbers were big-but it was from 3 bigger deals. The flow of traffic to our web site and the business from it was clearly off (although we did enjoy one really good week). That bothers us tremendously. At time we wondered if we pissed the world off or what is going on. We do know it is not just us. October has turned out to be a slower month for anyone not deeply involved in better gold. Fortunately our biggest deal was well over $2,000,000.00, did involve better gold, and was sold directly to a collector. Activity in the upper levels is alive and well.
We do not understand whey coins like Bust Halves (forever best sellers), cheaper proof Barber coins (really down and out), and semi-generic gold have no strong demand. In the semi generic gold area, we can say gradeflation has made all the dreck thats stuck on the market deflate pricing, but with good coins now so cheap, we do not understand why demand has not picked up.
Maybe we are stuck in some kind of pre election cycle and people are not in the mood to spend. All we know, is save for the big guys, things are slow and there are some great values to be had. Its not like the market is overloaded with great coins to buy. We urge anyone thinking about buying now-DO it. Why pay more down the road? The biggest buyers sure have not stopped-they are hampered by pure supply issues, not lack of confidence in the market.
We do expect this weeks upcoming Baltimore Show to be good. There has not been a major show since Long Beach Sept 8-10th. Both collectors and dealers should be craving nice coins at the show. For us, the recent PCGS Invitational was easy selling. So we think Baltimore will be even better w/a much larger attendance.
GOLD
Keep an eye on the price of gold. Its quietly been inching up. The supply of PCGS CAC generic gold is extremely small. Nice NON CAC gold is especially hard to find (gradeflation and doctoring have really taken their toll on this segment of the market). . We are forever gold bugs. If the price of gold keeps inching up, we predict one day soon we’ll wake up to a huge demand that could raise prices on generics by 10% over night easily.
Start a gold Type set today! Or put some nice gold pieces away. There are so many ways to buy low premium gold right now.
VISIT LEGEND AND LEGEND RARE COIN AUCTIONS AT TABLE 643 AT THE BALTIMORE SHOW
NEWPS
Our NEWPS are very small this week. We have many coins in the works. So post Baltimore we’ll have lots to offer. The absolute highlights this week are the 1C 1795 PCGS MS63+ BN CAC and the $5 1909 PCGS MS65+ CAC. of course we have several other neat NEWPS as well.
LEGEND RARE COIN AUCTIONS
www.legendauctions.com
BID NOW! Our “CRAZY SALE” October Internet Sessions II closes Sunday night at 10 PM. This sale is chock full of odds and ends you won’t see in our Sessions or Regency Sales.
THE NOVEMBER SESSIONS SALE
This is our handpicked Internet ONLY sale. We will have all the coins available for lot viewing in Baltimore. Remember, our buyers premium is only 10%. NO other Internet auction company has its coins handpicked by two if this decades greatest numismatists! Monday we will have a listing of the entire sale.
THE DECEMBER REGENCY SALE-Most will be on highlights on display at Baltimore
We are ONLY accepting very cool coins for consignment up until the end of the Baltimore Show. We will begin posting highlights on our web site next week. Included in the sale:
18 coins from the world class Northern Lights toned Morgan Collection
The Angel Dees PCGS MS Toned Buffalo Nickel Collection-to be fully on display in Baltimore
The Young-Dakota Proof Barber Dime set 66-68
$1 1795 SE PCGS MS65 CAC Ex Legend Collection
A FRESH group of Indian Cent Patterns in GEM
We are very near our 500 lot limit. So if you want your coins included in this sale, call or email Greg Cohen greg@legendauctions or Julie Abrams julie@legendauctions today!
We are accepting consignments for our December Internet Only sale and our January Regency Sale to be held in Las Vegas at the PCGS Invitational.
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!
