EVERY YEAR THE DOLDRUMS GET WORSE
We are happy the summer doldrums are finally starting to end. Every year it seems they last longer and longer, There is no full speed ahead as this year it seemed the beat down was pretty hard. We had hoped our September Regency Sale would jump start things. It looks like it has ever so slowly, but the market is still choppy. Most dealers are still broke due to tight grading and poor sales. That brought most wholesale to a halt. Now as retailers start to need coins again, the trickle down effect from that will help everything.
CLEARLY TODAY IS A BUYERS MARKET
The change in the market from no to slow is a tremendous buying opportunity. Dealers still need cash but feel more comfortable about bringing out their better coins. The BEST deals to be made today are for IMMEDIATE cash. This where many collectors get it wrong. A dealer offers a great coin-top pop or something that probably a few people want. Here you come sneaking at first shot and offering a trade. While there are dealers who love trades, they do it because they are taking your trade at cents on the dollar. For a great NEWP, CASH is always the best. AND it should get you early to first shot on other fresh pieces NEWPS. You will get you BEST deals by paying immediately.
Legend Numismatics practices what it says. Since we are done after a full month, we can admit we have been buying anywhere there was a distress sale or super cheap sale from dealers. A lot of dealers have a lot off overhead and coins they always need to move. You’ll see the fruits of our purchases shortly.
If you work with a dealer-an honest dealer, you can pick off some great coins right now. We still strongly suggest buying ONLY PCGS CAC unless you have a very skilled dealer working w/you. While in this two tier market it may seem like you are paying strong for CAC coins, you are not.
There ware some nice near miss non CAC coins. With prices going for as much as HALF (or more) of full CAC beaned coins, these coins at sell for cents on the dollar( prices should hold up. NOTE: THESE ARE SPECIAL COINS, not puke. Do not try and buy these on your own. They consist of many 5-10% of what is NOT CAC. Also, do NOT buy a NON CAC dreck coin just because you need to fill a whole and it seems cheap today. It WILL come back to bite you in many ways.
By the time the FUN Show happens in January, we expect the market to fully recover and even be up a few percent. You can’t beat a buying time like now.
This past week-without much effort we sold just over $400,000.00 off our web site. In addition we are proud to say we placed a once in a life time $20 Lib in a Type set. It was a $20 1880S PCGS MS65 CAC. Sound so/so? This pop 1 coin was as fully cameo prooflike as any proof! Now it resides in a really cook HIGH END Gold Type set we are exclusively building.
NEWPS
We are starting to post some of those coins we tucked away. We’ve already made some sales. Don’t think too long!
Highlights include:
1C 1908S PCGS MS66+ RD CAC
5C 1880 PCGS MS65 CAC
$1 1867 PCGS 66 DC CAC
$10 1907 NM PCGS MS66 CAC
We never just place anything for sale. every coin we list has to be better then most on the market. We reject so many coins each offering. With us, NOTHING replaces quality and real eye appeal.
Check out our regular inventory too. No, we don’t have retreads, but we have some great coins that have been hybernating while things have been slow. Of course we will work deals on any coin of your desires (except coins where it says the price is firm).
ALL NEWPS ARE NOW POSTED
DUE TO SCHEDULING, NEXT WEEK WE WILL NOT BE POSTING NEWPS. BUT CHECK US OUT THE WEEKEND WE RETURN FROM BALTIMORE
LEGEND RARE COIN AUCTIONS
www.legendauctions.com
A MAJOR ANNOUNCEMENT Legend Rare Coin Auctions will be having SIX Regency Sales next year. We will NOT be continuing the Premier Monthly Sessions after the last big one in December. We plan to have an auction every other month.
Our first sale will be a stand alone. The location and time PRE Long Beach in Beverly Hills on January 27th at 4:30 PM. We picked the old Crowne Plaza (now a fancy Marriott) on Pico where we spent many Pre Long Beaches attending auctions at. Of course we will have highlights of this sale at FUN and full viewings elsewhere.
The 5 other sales all will be in conjunction with PCGS Invitationals. The schedule had worked out PCGS first show won’t be until March.
Demand for our Regency Sales has been growing at wild pace. By adding a a sale, we hope to better keep our promise of 500 lots per sale (although if we get a major collection that changes things). This should also help our unforgiving work load as well. It will also allow consignors to plan better and always know a sale is around the corner.
The entire staff is excited about out first “stand alone” sale. We already have two powerful medium size collections consigned. We feel the timing to try this could not be more perfect.
Stay tuned for our October Premier Sessions Sale and our November Regency Sale to open for bidding later this week. Both are fabulous sales!
If you have any questions at all, please ask! Or if you wish to consign contract us! Contact: Jessica Berkman: jessica@legendauctions.com,Julie Abrams: julie@legendauctions.com, or Greg Cohen: greg@legendauctions.com.
We thank you for supporting our auctions!
IF YOU HAVE ANY QUESTIONS OR WISH TO ORDER EMAIL US: legend@legendcoin.com. WE DO NTO CHECK PHONE MESSAGES UNTIL 9 AM MONDAY
