THERE IS STILL A COIN BUSINESS
We are happy to say the market has not stopped. There is weakness in a few areas, but collectors are still going about their lives and are buying coins. This week we had a run on coins priced $1,000.00-$4,000.00. Wish we had a truck full of them. So long as the quality was there, the coins sold. The biggest ticket coin we sold was $97,500.00. With the Baltimore Show and the Pogue sale right around the corner (and of course our Regency 37 Sale) we see the bigger players sitting back. It can be so frustrating especially if they miss a great coin because they are wrongly convinced something else is a better buy in an auction.
Our expectations of the Pogue sale: a few weeks ago we were convinced the coins would bring “beyond Pluto” money. Today, just regular “moon” money (still pretty darn strong)! Collectors pull out all the stops when world class coins pop up.
We think the Baltimore Show will have weak attendance. Several West Coast dealers were not coming anyway. We have heard of a few dealers who do not want to travel due to the coronavirus. Still, that does not mean the show will be weak. We expect a weak to okay show.
LEGEND NUMISMATICS WILL HAVE A TABLE AT LEGEND RARE COIN AUCTIONS REGENCY 37 SALE (LOT VIEWING) MARCH 25+26. STOP BY AND HIGH. LETS DO SOME BUSINESS!
LEGEND AUCTIONS WILL BE ACCEPTING CONSIGNMENTS AT THE EVENT AT THE LE MERIDIAN HOTEL IN PHILADELPHIA
THE FUNKY STOCK MARKET/GOLD
After some people have gotten over the feeling of suddenly being poor, they snap out of it and start looking for better areas to place their money. As PROVEN in 2008, they run to GOLD and hard assets. Today the rice of gold is red hot-jumping as much as $30.00 a day. We have not seen any mad dash of coin buying, but then supply is hard to find.
Generic gold coins are finally seeing stronger demand. Bids have only slightly increased but the number of bidders/market makers has dramatically increased. We expect a real pop in gold coins if the stock market behaves badly again next week.
We still say the best way to play gold-build a PCGS CAC Type set. It is now more then proven PCGS CAC coins hold up far better in value in bad markets. Or you can buy (try to buy) PCGS CAC MS64 Saints-the current WHOLESALE bid is an insane $1,699.00 (you would probably pay $1,800.00). Keep in mind, gold is $1,673.00. The premiums for generics are still ridiculously low.
We still (not just because we are gold bugs) think NOW is the time to buy. Prices will not be this cheap much longer.
NEWPS
We have a wonderful group of NEWPS lead by the remarkable $5 1908 Indian PCGS MS66+ CAC. Do NOT consider this coin common, it is far from it.
Other highlights include:
50C 1936 Proof PCGS PR67 CAC A MONSTER-THIS COIN IS A MUST BUY!
$1 1875-S TRADE DOLLAR PCGS MS66 WOW!
$20 1910-S PCGS MS65+ CAC NEVER SEE THEM LIKE THIS!
We always work hard to find coins for every taste and budget.
Keep in mind, Legend Numismatics sells coins that are in the top 5% for the grade. We are NOT bottom feeders. To get the coins we handle, we pay strong prices. These coins have more then proven they hold up-even in down markets. Quality never goes out of style.
LEGEND IS BUYING
This is not just a statement. We need coins for our huge Want Lists.
We WILL buy entire collections to get at a few coins. We also accept coins on consignment to sell.
#1 on our lists: GEM DMPL Morgans. All coins MUST be PCGS CAC and must NOT be cloudy or have any haze. We need MS65 and higher.
#2 interesting coins valued between $1,000.00-$5,000.00. We would love to buy all the 25C Barbers PCGS PR65 Cameo CAC at current levels. No hazy or dusky toned coins.
#3 All gold. What do you have?
Please send a list and images to legend@legendcoin.com attention George Huang.
LEGEND RARE COIN AUCTIONS
www.legendauctions
There is so much happening at LRCA! The Seattle Collection is drawing a record number of eye balls so early on. Much to our surprise, we already have multiple phone bidders on the patterns! The sale is LIVE NOW!
We suggest you check the sale out. There are so many HIGH END and really neat coins for sale. be prepared!
Response to the announcement of the Big Mo Civil War Collection was crazy! We will have highlights at the Baltimore show and the entire set will be at our Regency 37 Sale (along w/the amazing Blue Hill Collection).
Now is the time to talk to the auction staff to discuss terms and set up for phone bidding. Call them, 732-935-1168.
IF YOU HAVE ANY QUESTIONS OR WISH TO ORDER, PLEASE EMAIL US: legend@legendcoin.com WE DO NOT CHECK OUR PHONE MESSAGES UNTIL 9 AM MONDAY
