THE QUIET BEFORE THE STORM
This year when we have an auction the week leading up to the sale is usually dead. So dead we freak and wonder if we’ll ever sell another coin. This week was no exception although on Wednesday we did sell a Commem an a Pattern (wahoo)!
Its kind of funny to watch collectors trying to stake their claim on coins they want to bid on. Of course they have high hopes until they see their bid was just an opening number.
This was a incredibly successful sale. Even before the sale closed at the live session we had more then half the sale at numbers that were really strong. You would never guessed the sale was smack in the middle of a bad economy and a pandemic.
AN AMAZING REGENCY 41 SALE
In the end, the Regency 41 auction was a record breaker in every way possible. We had more eye balls then ever, it was our biggest auction ever (OVER $9 million-numbers not verified yet) and we had more winning bidders then ever. About 90% of the sale went to collectors (or dealers directly repping collectors).
We also had a crowded auction room as well. Feed them or have some damn great quality coins for sale and they will come.
Many records were smashed.
THE BRUCE MORGAN SET OF BUST DOLLARS
We are sad to see it broken up. At least we saw every coin go to a good home. It was an amazing journey for both Legend Numismatics and Bruce.
It is true BOTH the 1794 an 1804 did NOT sell. Its not that Legend Auctions was the wrong venue (we were perfect for this set), Bruce simply made the reserves too high for the current market. The market was not there at those numbers especially with the loss of Brent Pogue who loved Bust Dollars and always was a strong buyer of them. However on Friday we had 3 true offers on the 1794. We will listen to offers from direct principals only but there is no need to sell these 2 coins.
Overall, Bruces coins sold at really good prices given the market. Highlights included:
1C 1794 PCGS MS67 BN CAC $258,500.00
H.10 1795 PCGS MS66+ CAC $96,937.50
10C 1796 PCGS MS66 CAC $293,750.00
$1 1795 OFF CENTER PCGS MS66 CAC $705,000.00
$1 1802/1 PCGS MS64 CAC $193,875.00
$1 1883 TRADE NGC PR69 $164,500.00
Considering it is 100% a BUYERS market for six figure coins, those were really good numbers. The only coin that did NOT sell (which we do not understand why) is the 1797 PCGS MS64 CAC. You will never find a better example.
We do consider the sale of Bruces mindboggling set a success. We thank him for consigning the set to us.
THE REST OF THE SALE
Not too shabby. In fact had the rest f the sale been a stand alone it would easily have ranked as one of our strongest sales all year. Here some highlights from Part II
5C 1926-D PCGS MS67 $70,500.00
50C 1846-O PCGS MS65+ CAC $27,025.00
50C 1946-D PCGS MS67+ CAC 15,862.50
$1 1879-S PCGS MS68+ CAC $28,200.00
$1 1893 PCGS MS65+ CAC $9,400.00
$5 1795 PCGS AU58+ CAC $91,062.50
$10 1907 WIRE EDGE PCGS MS64 CAC 67,562.25
$10 1907 NO MOTTO PCGS MS66 CAC $21,150.00
$20 1880-S PCGS MS65 CAC $129,250.00
50C 1946-S BTW PCGS MS68 CAC $16,450.00
In this sale, all gold was strong. Some times it can be hit or miss, but we do see gold reawakening.
THE ROADRUNNER COLLECTION OF TONED MORGANS
As expected, we delivered big time here. We had many NEW bidders for toners and in many cases the competition was intense. Look at these highlights:
Lot 254 $1 1879-S PCGS MS67+ CAC $18,212.50 41 bids were placed on this coin
Lot 269 $1 1881-S PCGS MS66+ CAC $6,756.25 30 bids were place on this coin
Lot 280 $1 1883-O PCGS MS64 CAC $3,642.50 37 bids were placed on this coin
Lot 300 $1 1885-O PCGS MS66+ CAC $4,700.00 33 bids were placed on this coin
Lot 308 $1 1887 PCGS MS66 CAC $32,900.00 81 bids were placed on this coin
Lot 319 $1 1896 PCGS MS68 CAC $30,550.00 20 bids were placed on this coin
Lot 326 $1 1895 PCGS PR 67+ Cameo CAC $158,625.00 7 bids were placed on this coin
The results for Roadrunner were extremely impressive!
TIME TO SET THINGS STRAIGHT-SIMPSON
There is a video interview of Mr Simpson on a certain web site. It discusses Mr Simpsons desire for coins and how acquired them. The video is NOT truthful due to a little editing.
Mr Simpson clearly is one of the top coin collectors in the world. Working with him was one heck of a journey.
We wish to note that Mr Simpson did NOT buy coins himself-it was a team effort. We are certain over 99% of the collection consisted of coins we found, vetted, and offered him. We delivered the $36 Million dollar South West Pattern collection and did all the leg work. We’re the ones who found coins like the $20 1865 Gold pattern worth millions or a deal of 50C 1877 Patterns. Further we were 100% his eyes and buyers at EVERY major auction (we would use his bidder card). He started some of his collections on our suggestion.
Legend Numismatics was Bob Simpsons ONLY dealer since he came back into coins in 2001.
We were never given a list or speech of how he wanted his coins, He knew we were the right people to build the set he wanted. The only part of the video with some truth-the man actually does know something about grading and he craves great eye appeal.
We are extremely proud of the collection we built for him and don’t like being kicked to the curb. Its kinda rough that its really not the right time for him to be selling, but it is what it is. Some of the worlds greatest coins are now coming back and are giving many collectors new opportunities. We just want it clarified that Legend Numismatics exclusively built his collection and worked very closely with him all these years. Other people are just day dreaming.
NEWPS
We have the ultimate highlight in our tiny offering: the Humbert 880 PCGS AY58+ CAC. What a coin!
This is an all time favorite coin of Laura Sperber. This coin does indeed rank as one of the nicer coins we have ever seen as well. Got dupes? Why not trade them in to own this extremely historical coin.
Pickins are real shallow for great NEWPS. We hope to be back on track by the end of October.
LEGEND NUMISMATICS IS BUYING. WHAT DO YOU HAVE FOR SALE?
LEGEND RARE COIN AUCTIONS
www.legendauctions.com
We had a great Regency 41 sale.
Final call for Regency 42. We’ll have part II of the Big Mo Civil War coins-all gold. Stay tuned for highlights.
IF YOU HAVE ANY QUESTIONS OR WISH TO ORDER, PLEASE EMAIL US: legend@legendcoidn.com. WE DO NOT CHECK OUR PHONE MESSAGES UNTIL MONDAY AT 9 AM
