BIG TICKET COINS ARE IN DEMAND!
What a miserable week most people had thanks to the stock market. For sure many people did not feel like spending. Smart money was tire kicking around, but even smart money was battered and really would only buy if the situation is 110% right (not just coins, but art, cars, real estate, etc). We were semi surprised the one area ‘smart’ money wanted to buy still-the classic rarities of coins.
Our week started off strong, died then ended strong. Legend is proud to announce the placement of what many knowledgeable people feel is by far the FINEST 1901 S 25-the Gardner PCGS MS67 CAC (2896524) for a price in excess of $250,000.00. We had posted several inexpensive gold coins in GEM. True to our typical operations, with in an hour of posting we had sold a few coins-but then nothing happened. We are shocked that our G $1 1874 PCGS MS65 CAC at $1,200.00, the $2.5 1906 PCGS MS66 CAC, and $20 1924 PCGS MS66 CAC $3,475.00 are still listed and are not sold. These coins are cheap and are quality oriented. It is a mystery to us why they did not sell. We also had THREE $20G offers on our $5 1838D PCGS AU55. Can’t believe no one would stretch a tiny bit to buy it-that’s such short term thinking. Between Tuesday and Friday AM, we sold very few coins-certainly NONE above $5,000.00. Typically, in times of turmoil in the stock market, all gold coins like the ones we discussed (and generally ANY gold like we have listed) are the first coins to sell. Not this past week. We do know that lower grade generic gold-like MS62 $20 Libs were selling strong. Very perplexing to us.
What we did sell included coins like the $1 1795 PCGS AU58 CAC (listed at $48,500.00). Late Friday we closed the week selling a spectacular $20 Saint high grade rarity in excess of $100,000.00 in a transaction that took only a few minutes. In the end, it was yet another “choppy” but decent week.
It is our strong belief even more people will start looking at hard assets again once the stock market stabilizes. Included will be collectors feeling better and returning to their hobby. We’re not just guessing, its a historical thing. in 2008 we saw a flood of people enter coins after the stock market crashed. This time people are licking really deep wounds so we think it will take a little longer for them to buy things like coins. This past week our sales were dominated by expensive rarities, not like the week before when $2-$5,000.00 coins dominated. As we mentioned last week, we have started 2 new major Gold Type sets. We’re sure there will be more projects coming soon with people totally new to coins. Our out look is optimistic for now through the spring.
Again, you will never see us with hundreds of NEWPS. We can’t even do dozens. To us, rare coins are NOT a commodity. We handpick every coin. The color, quality, strike, every thing has to be right for us to own it and them offer it to the collecting public. That’s why there are so many bad top collections out there. Just ask David Hall or Don Willis of PCGS, they will tell you when Legend brings them a collection we exclusively built, they are excited to see it!
Here are a few highlights of our outstanding NEWPS for this week:
1C 1899 PCGS PR67 RD CAC
10C 1893 PCGS MS67+ CAC
25C 1820 PCGS PR64 CAC EX NORWEB
$3 1867 PCGS MS63 CAC
G $1 J-1606 1879 PCGS PR66CAMEO CAC (better then Simpson coin)
These are just a few high lights (shhh, don’t tell Simspon about the Pattern). Of course we have many other handpicked killer quality and killer eye appealing coins. Don’t forget to check out our regular inventory-we’ll work hard to make you a great deal!
WE WILL NOT BE POSTING ANY NEWPS NEXT WEEKEND (JAN 30TH). WATCH FOR OUR NEW WEB SITE TO BE LAUNCHED!
LEGEND RARE COIN AUCTIONS
Our Regency 16 Sale is now LIVE!!!! go to: legendauctions to bid.
As you can see we have many really exciting coins in the sale. QUALITY, RARITY, and EYE APPEAL are what our sales are about (oh yeah, and great service). This is yet another sale you can bid with confidence in.
ALL LOTS WILL BE AT THE LONG BEACH SHOW AT OUR TABLE FOR VIEWING.
We strongly urge you to come and see the sale in person. These are really exciting coins. The small group of Patterns is by far one of the best offered in the past two years! The 50C 1942 PCGS PR66 Cameo CAC is creating HUGE buzz and will sell for a record price for sure. And if your into the finest Commems, look at the multicolored MS68+ Iowa! Plus there are 483 more lots to discover! This is not a sale where much will slip through the cracks. Be prepared to bid strong!
We suggest you register and set up your phone bidding now!
If you have any questions, please email or call Julie Abrams at: firstname.lastname@example.org
IF YOU HAVE ANY QUESTIONS OR WISH TO ORDER, PLEASE EMAIL US AT: email@example.com. WE DO NOT CHECK OUR PHONE MESSAGES UNTIL 9 AM. DUE TO THE BLIZZARD, WE MAY BE SLOW IN RESPONDING THIS WEEKEND! DO KNOW ALL EMAILS ARE ANSWERED IN THE ORDER THEY ARE RECEIVED.