WHEW, GLAD THAT SALE IS OVER
Ever since the sale of the Bob Simpson collection was announced, we held our breaths. This is not quite the market you want to sell a multimillion dollar collection in. We did not expect the strong results achieved-especially for the patterns or a collection of this size.
Last night’s sale showed no boundries. There was a real vibe of excitement around the coins. Shame on us for forgetting our own secret sauce-QUALITY and EYE APPEAL. We worked so hard over the years to sell Mr Simpson only the very best. In many cases where he paid record money-he made money. Really. Plus, he is not really selling piece meal. 350+ lots of some of the best coins that exist does attract attention. In so many cases when we thought the bidding on a lot ended, it was only beginning!
Legend Numismatics is heartbroken that we could not buy the entire session. We badly wanted so many of the coins back,
The biggest knockout surprise were the Patterns. Since when are so many people collecting them and paying strong to get them? We are happy to see the collecting public finally realizes Patterns are grossly UNDERvalued and are extremely cool.
In this sale last night it was hard to say record prices happened (we did pay $66,000.00 for the 10C 1900 PCGS PR68+ CAC). However new market levels have greatly improved from just a few months ago. For sure coins UNDER $150,000.00 were red hot if they were all there. The really expensive coins (like the 94S 10C ) still are in a buyers market. Of course gold was strong across the board.
We still see hard assets heating up and more people entering the hobby. The supply of “Simpson” caliber coins are so few. If you are a price buyer, your not going to end up with great coins. Not one single awesome Simpson coin fell through the cracks either.
We fully expect the next session (Nov) of Simpson coins to be every bit as dynamic and strong as this one was.
Final nugget: the market is alive and well when nice coins appear.
GOLD
We had a feeling that once it jumped $2,000.00 a month ago it would either keep going, or do nothing. Since it broke through things seemed to have quieted and gold has not broken $2,000.00 again. If you recall, we said you should hedge and take some profits. We feel vindicated by golds actions.
We still say sell most of your “stuff” and or trade into better coins. The timing is still good.
We do NOT see gold going down as our government probably has not even started to print all the money it needs. Its just a matter of when and how strong will demand be for “stuff”. Keep in mind, you could have bought MS 64 Saints for something like $1,600.00 in Feb.. Today, they would cost you $2,100.00. That is one rapid rise.
Rare gold priced up to $250,000.00 is heavy in demand. So if you are offered a great piece, do not think too hard. You are not the only buyer.
BACK TO EARTH
At Legend we are in the biz of buying and selling the BEST coins. Nothing frustrates us more then when we post killer coins on our web site and the collecting public passes them buy only to bid like crazy in auction. Stop with the madness!
Some times, your best deals with come off web sites. Remember, in an auction your in a heated competition for coins. Buying from a dealer you can negotiate a better deal usually. You’ll fare even better if you work with a dealer. Maybe at some point the public will believe this. We are here to build great holdings of coins. Do not be afraid to talk to us.
NEWPS
Due to uncontrollable issues, we are very light on NEWPS. We are out of NEW coins below $5,000.00 pretty much. This never really happened before. We can’t buy a GEM DMPL to save ourselves. Do know we are trying hard!
EVERY coin we have posted this week would easily be someone else’s highlight.
We suggest you browse though our inventory of all PCGS/CAC graded coins. Of course we’ll work with you. And get rid of your dupes/stuff now. You can get a good price and the rare coins you are going into are exploding yet in price.
As we like to say” Opportunity knocks loud here!
PLEASE SELL OR TRADE US YOU COINS. WE NEED IT ALL RIGHT NOW!
LEGEND NUMISMATIC AUCTIONS
www.legendauctions.com
It is time! Our biggest and best auction ever is now live. The grand highlight is the Bruce Morelan Collection. We doubt a finer Bust Dollar collection could ever be assembled!
Visit the auction web site to learn more. Or call 732-935-1168 to discuss consigning or buying.
IF YOU ANY QUESTIONS OR WISH TO ORDER, EMAIL US: legend@legendcoin.com. WE DO NOT CHECK OUR PHONE MESSAGES UNTUL 9 AM MONDAY
