Totally Unexpected Results For July!
We knew the first two weeks of July would be brutally quiet-and they were. The turn around came as the Baltimore Show started. We did not expect anything but a totally dead show. We were wrong. The small energy from the show carried on through now as this report is being written. In fact, we just checked, July 2015 was our best sales July in 4 years!
This past week had unexpected excitement. It started with us doing a $450,000.00 deal on a coin that wasn’t even ours for a newer customer. Sales were strong all week with two of our favorite new listings of last week-toned $1 1884 and the superb $1 1875 PCGS PR65+ Cameo selling fast. Plus, as this is being written we are working on two sales worth $250,000.00 combined! Normally at this time all we’d be doing is calling each other in the office to make sure the phones are working!
GOLD AND THE MARKET
Demand for junk gold and silver, bullion, and generics are insane. In fact, we had a million dollar plus order to fill for MS 65 Saints (non CAC) and we could not-the coins are not there in any quantities. The head of a major bullion/generics operation warned us “do NOT short any positions right now. Its too cracy and can easily collapse”. He also went on to say the demand for things like bags of silver are so strong, if you want 10% more then the bids, you can easily get it. It should be noted that the premiums have drastically risen in the past 30-45 days even as gold has taken a dive. It is Legends strongest opinion that if you want to buy just gold-buy the bars only. They have the lowest premiums.
This all has had little to NO effect on the true rare coins. The Rare Coin Market is and has always been ruled by supply and demand-not bullion prices. Only once in 1980 was there rampant speculation by coins dealers that made the market a wild boom which also made it collapse dramatically as well.
As the gold hawks we are, right now we do thing buying semi-generic gold-like G $1 TYII MS66-67, $2.5 Libs in MS66-67, $5 Indians in MS64+65, al $10 Indians in MS64+65 are good values for the long term. Of course we will always be bullish on Saints in MS66-67. If you start looking for PCG CAC pieces, you’ll quickly realize, there are not many around (which to us confirms their values/opportunities for the long term growth not just as gold goes). For coins like these, even if gold crashes, they are still long term plays that have some numismatic value.
NEWPS
This will be our last posting of NEWPS until we come back from the ANA Show. However make sure you are re signed up for our emails as we will be making periodic offerings of our NEWPS from the bourse floor-now that’s first shot!
Todays NEWPS defy gravity. Really.
The absolute highlight is a 1848 H.01 and 1C Proof set in GEM! The COMBINED mintage is only 22 pieces!! We also have several other wicked cool NEWP including: 1C 1812 PCGS MS64BN and a $5 1891CC PCGS MS64+ CAC.
MAKE SURE TO START CHECKING OUR WEB SITE SATURDAY AUGUST 15TH FOR OUR ANA NEWPS!
THE ANA SHOW
We have now viewed ALL the auctions. If you seek representation-please email: Laura Sperber direct: lsperber1@hotmail.com. ALL representation is on a first come first serve basis.
If you attend the show, stop by our tables 915, 1016, 1018. We will have $10 MILLION DOLLARS PLUS worth of the FINEST and RAREST coins in the entire show on display-FOR SALE! The grand highlight: the UNIQUE H.10C 1870S PCSG MS64-one of the greatest classic rarities that exists! Another teaser: A very fresh $50 Pan Pac ROUND PCGS MS65+ CAC and some of the FINEST GEM PROOF Large Cents and Seate Dollars that exist! We promise, we will also have coins for EVERYONES tastes and budgets.
We would love to buy your coins. If you have a single (sorry NO modern coins) or even an entire collection you want to sell, stop by and see us! Remember, Legend is the firm that bought the most valuable coin ever-the $1 1794 PCGS SP66 for $10 MILLION dollars and the Southern Pattern Collection in 2008 for $36 MILLION!!!Now that is really paying the highest prices!
Also, if you have coins to consign to us for the show, this Wed is the absolute cutt off.
LEGEND RARE COIN AUCTIONS
WE WILL HAVE THE ENTIRE SEPTEMBER REGENCY AUCTION AT OUR TABLES 915, 1016, AND 1018 AVAILABLE FOR VIEWING. INTERNET BIDDING SHOULD OPEN APPROX. AUGUST THE 7TH.
Yet again, we have put together a super auction! Its only 356 lots, but each lot was hand picked! we did reject about 100 coins (you’d be amazed what gets offered). We will also have the FINEST KNOWN $1 1893S PCGS MS67 Coronet (which is for sale privately) on display as well.
CONSIGN NOW! The ANA Show is the LAST CALL for our October sale which features ROUND II of the #1 Registry Coronet Collection of MS Morgans. Group #1 set all kinds of world records, we expect group #2 to do the same! We already have some great coins including colored Morgans, a $1 1879S PCGS MS68+ CAC, and only the second one graded in 30 years-a KILLER $1 1891CC PCGS MS65DMPL. We accept H.01-$20, consignments do not have to be dollars to be in this sale!
Keep in mind, we are a boutique auction that has more then proven we CAN match the big guys in terms of prices realized. Only Legend Rare Coin Auctions has access to the Legend Rare Coins customer base-which unquestionably is one of the most aggressive and powerful active buying groups that exists. And because our auctions are limited to 500 lots-we can promote every coin extensively-not just as a group. You also won’t get phone books or see the same coins offered 2-4x! We also vette the coins we accept for sale and tell you which coins we own, what other auction house does that? Try us, we are different and do get results! Our motto: “A happy buyer makes for a happy seller”.
To consign, see us at ANA or contact Julie Abrams at: julie@legendauctions.com
IF YOU HAVE ANY QUESTIONS OR WISH TO MAKE A PURCHASES, EMAIL US! legend@legendcoin.com. WE DO NOT CHECK OUR EMAILS UNTIL 9 AM MONDAY.
