THE MARKET HAS BECOME SELECTIVE
Much to our surprise, the market did NOT shut down after FUN. From our point of view it has kept rolling on-just being selective for better coins and better quality. This was more then just proven in our Regency 36 Auction (more on this below).
This past week, starting when we were writing last weeks report, we were selling coins off the web site. Funny thing, we sold 4 coins worth between $31-$36,000.00 this week with out any effort. ALL sales were direct to collectors. That actually is unusual for this time of the year. After all was said and done, we had one VERY good week. We’ll take it!
We also had a few calls from people totally new to the hobby who where bewildered at where to start (we recommend Type sets). We are happy to have that happen.
While our overall activity was very good, it was not break neck. Keep in mind, a lot of coins have been sold since FUN! Typically, starting a full week after through the next Baltimore Show is recouperation time. This year, with a big copper auction at Long Beach and so few coins around, it seems the trolling has not stopped. Collectors have more of a “must buy” attitude if a coin appears now.
We absolutely are still bullish, however we have run out of the smaller coins that the market is starved for. Especially slightly better gold. Obviously we have no mid size or larger Proof gold (have not had any in ages). And poof to all our better Saints (save for our big NEWP). Most of the Proof coins we bought at FUN are now sold too. So for us, its back to selling a big coin that has been overlooked in our inventory, not rapid fire boom boom sales.
LEGEND REGENCY 35 SALE
Our overall determination from this sale: the market is low end to weak for NON PCGS CAC coins. For PCGS CAC coins, moderate to strong. As proven time and time again in our sales, quality NEVER goes out of style!
Leading the way in strength-Proof Indian Cents and MS Walkers. Proof Half Dimes saw surprising action too. On the flip side, now that the BIG 3 collectors are done building their sets, SUPER high grade Peace Dollars have fallen back to earth. Morgan Dollars have had so much hit the market in the last six months, ouch! The most poorly performing coins in our sale-NON CAC Morgans.
ANY coin that was of TRUE HIGH END QUALITY was rewarded. Here is a list of highlights:
Lot 14. 20C 1874 J-1355. PCGS PR64+ BN CAC, realized $16,450
Lot 28. 1C 1856 FLYING EAGLE. PCGS PR65 CAC, realized $35,250
Lot 47. 1C 1901 PCGS PR67+ RD CAM CAC, realized $49,938
Lot 108. 5C 1903 PCGS MS67+ CAC, realized $25,850
Lot 112. 5C 1902 PCGS PR67+ CAM CAC, realized $15,863
Lot 124. 5C 1934-D PCGS MS66+ CAC, realized $23,500
Lot 132. 5C 1913 TYPE 1. PCGS PR67+ CAC, realized $16,450
Lot 220. 50C 1946 PCGS MS67+ CAC, realized $22,325
Lot 228. 50C 1936-D PCGS MS67+ CAC, realized $36,425
Lot 266. $1 1878-CC PCGS MS64 DMPL CAC, realized $4,818
Lot 275. $1 1880/9-S VAM 11. PCGS MS67 DMPL CAC, realized $14,688
Lot 352. G$1 1903 LA PURCHASE. MCKINLEY. PCGS PR67 CAM, realized $37,600
Lot 362. $5 1813 PCGS MS63 CAC, realized $30,550
Lot 380. $20 1925-S PCGS MS64+ CAC, realized $73,438
Lot 385. 50C 1937-S BOONE. PCGS MS67+ CAC, realized $3,995.
Of course there were many more coins that realized wicked strong money as well. Most important: there were many instances of MULTIPLE bidders. As typical to our sales, over 90% of the purchases were direct to collectors. Our smaller boutique style works!
If you have any questions, visit the Legend Rare Coin Auctions Web site: wwww.legendauctions.com.
We will announcing the rarities and the Seattle Collection for our upcoming March Sale in Phili. We will also be hosting the first PCGS grading classes March 25+26 at the auction venue. See the PCGS web site for more details.
A SIMPLE TRICK ABOUT AUCTION PHOTOS
The BEST images of coins generally are the ones in the holders. So when you see any auction web site and it has a wildly colored coin-check the image of the coin in the holder. That will be the truer colors. Many times the true colors will be much more dull. Even our sales work that way. Its no tricks, it has more to do with how the light is captured. We judge colors this way when looking at auctions on the web. This way, there are no surprises.
We are out of regular NEWPS this week! We were going to post 2 major rarities, due to technical reasons we can only do one. So we’re replacing the other with 2 pretty neat coins. We hope to have a better offering next week. Its not like we are not trying to buy! We are!
What do you have for sale? We are especially seeking coins valued $2,000.00-$10,000.00.
Make sure to check out our regular inventory. many of you have been and last you we sold some pretty neat coins to great new homes.
ENJOY THE SUPER BOWL!
IF YOU HAVE ANY QUESTIONS OR WISH TO ORDER, EMAIL US: firstname.lastname@example.org. WE DO NOT CHECK OUR PHONE MESSAGES UNTIL 9 AM MONDAY
LEGEND RARE COIN AUCTIONS
Wanted to announce the Seattle Collection for our March 26th Auction in Philadelphia. This collection was assembled by a long time collector who attended many shows and auctions. He collected MS Shield and Liberty Nickels, as well as all Nickel related Patterns. He does have a remarkable MS 3CN collection too.
The freshness of this collection rivals that of a ripe tomato still on the vine!
More information will be forthcoming shortly about this great collection and other wicked cool coins in the auction. Stay tuned.
The auction company can be reached at 732-935-1168