THIS IS WHAT WE SAW
Legend Numismatics had an unexpected busy week. Our first sale Monday was high five figures. We never looked back. While the volume was not like it used to be, however we think for the “new normal’ it was fantastic. We paused to reflect, we’re selling five figure coins still. Last week we sold a six figure coin. All the while we are missing the brunt of the market which is $1,000.00-$10,000.00. Those coins are so in demand that we can not find any. Prices are inching up-mostly in the gold area. We guess people do look and realize coins are cheap. We are aware of other dealers selling a few six figure coins and doing some BIG deals.
As we said before, stocks took a bad toll on people (including us) crashing down as much as 90%). We know of NO coins that had done that.
It is the opinion of Legend Numismatics the “hard asset” ideology is creeping back out. Bank of America very boldly raised its projection of gold hitting $3,000.00 per ounce (google it, it was huge news). Last week we told you the big hedgies we know were still quietly buying gold. These guys usually have the insides of the markets. We strongly sense the public and collectors want to buy coins again. The fear they were frozen with is now starting to ever so slightly melt. It will not take much to really rattle/move this market.
Of course we will have crazy demand. But supply? Good luck to everyone! We are still highly bullish on gold coins. We suggest you try and buy what you can now.
We saw and heard of many sales happening this past week. That was super good. NOTHING is running away, but at least there is still demand and a good two way market.
THE CSNS AUCTION
While not as big or tangy as they usually are, this sale had many “hidden” GEM’s and in the end did very well given the circumstances. Legend Numismatics and Legend Rare Coin Auctions believe the sale was probably 5-10% lower price wise then it should have been because no one saw the coins (NOT the auction houses fault). The lower prices were for the “stuff” and dreck. The good coins (save for expensive gold) did very well over all. Those were mostly known coins and were mostly CAC’d. There were even a few “moon money” price records set.
Here are a few highlights we bought:
1C 1919 PCGS MS68RD CAC $12,000.00
2C 1867 PCGS MS66+ CAC $22,800.00
10C 1895 PCGS PR68 CAMEO CAC $22,800.00
25C 1895 PCGS PR68+ CAMEO CAC $18,001.00
$20 1909 PCGS MS65+ CAC $48,000.00
We got burned on these:
1C 1921 PCGS MS68RD CAC $31,200.00
50C 1939 PCGS PR68+ CAC $40,800.00
$10 1900 PCGS PR66+ DC CAC $78,000.00
$10 1914 PCGS PR65+ CAC $132,000.00
$20 1907 WE PCGS MS67 NO CAC! $204,000.00
$20 1914 PCGS MS65 CAC $26,400.00
$20 1931 PCGS MS66 CAC $150,000.00
If we could have seen the coins, no question we would have been far more aggressive. We spent the least ever for a CSNS auction.
Still, coins brought impressive prices overall. Proving this market is solid.
NOTE: In an Internet ONLY auction this weekend, a 50C 1938 PCGS PR68+ CAC brought $81,000.000!!!
WHAT WE NEED
Legend is paying $4,825.00 for PCGS CAC MS66+ Saints W/M. How many do you want to sell? We’re paying $3,675.00 for regular MS66 Saints PCGS CAC W/M. There are lots of gold coins we need to buy. Our bids (which in most cases are the top bids) and requests are going empty. We are NOT cheap buyers.
We need a ton of coins. BUT we do not need duplicates of coins we have. Nor do we need everything. All we ask is you offer. Sorry, we have no lists. We do look at NGC CAC coins. All coins MUST be CAC.
Right now we badly need coins $1,000.00-$10,000.00. All coins MUST have eye appeal.
Contact George Huang: legend@legendcoin.com with what you. We do NOT buy sightUNSEEN.
NEWPS
This past week we acquired some AMAZING world class coins. One coin, which we’ll offer next week is the absolute best struck 1795 Half in existence (we can not get this coin out of our heads-triple WOW)! We also will have an amazing top pop $5 Bust gold coin. If we were back in the roaring 2000’s, these coins never would even hit the market. So we are finding a few coins here and there. But its NOT what we want or really need! Legend can not turn down amazing coins priced right.
This week our offering is from the numismatic heavens. What a selection. We are working close on pricing and as you know, we think coins are cheap today.
Highlights include:
2 Brent Pogue Standing Quarters a 1925 PCGS MS67 FH CAC and a 25C 1927-D PCGS MS66 FH CAC. These coins look like they left the bank and were never touched again.
The $5 1806 7×6 round 6 PCGS MS64+ is unbelievable. You HAVE seen much worse in much higher holders! In the old days (before 3rd party grading) this coin was an MS65!
The $20 1876 TYII PCGS MS64+ WOW, WOW, WOW Its an impossible Type coin to find.
The $20 1907 WE PCGS MS66 CAC. Have not found one in a while. What a coin!
As always, we strive for a great offering. Again, we are working over time to find the $1-$10,000.00 coins. With PCGS now open and CAC coming back, we’re hoping supplies come back too.
We will take trades (especially) gold bullion for any coins listed on the web site. We’ll work hard to get into the coins of your desires.
ALL NEWPS ARE NOW POSTED
LEGEND NUMISMATIC AUCTIONS
www.legendauctions.com
Our Regency 38 sale is in full bloom! We have had huge amounts of new registrants and strong bidders. This sale closes with a live session May 14th.
We invite you to check the sale out and the company. Call 732-935-1168 if you have any questions.
Have coins to consign? Oh do we have some blockbuster sales coming :including the Big Mo Civil War Collection for July. We have two more major sales to be announced.
Stay tuned for a special offer about lot descriptions. Also, call or email us to discuss special terms.
If anyone is interested, they write a Report too every Saturday: https://www.legendauctions.com/market-reports/
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.
