LEGEND NUMISMATICS AND LEGEND RARE COIN AUCTIONS WISH EVERY ONE A SAFE AND GREAT MEMORIAL DAY WEEKEND!
WE ALSO THANK AND SUPPORT OUR TROOPS
WHERE DID MAY GO?
We were so busy all month we could not lift our heads up to check the calender. Poof! May is pretty much done. While we don’t have final numbers, it looks like the Legend companies (legend+legend auction) sold over $8,500,000.00 worth of coins. That is crazy!
Our course our auction company had a records smashing Regency Sale. Sothebys had a record smashing coin auction as well.
We expect the market to stay strong at least though the end of June.
A WAY TO LOOK AT THE MARKET
The stock market has been pretty crazy this year. Its made many people a lot of money, and cost others just as much. The in and out flow of money from the stock market has to go somewhere. When there are big hiccups, we see money come into coins.
When we were at Sothebys, we realized the entry to the real art market or some of the other collectables they sell is really $1,000,000.00. $5,000,000.00 is not a lot to spend in that building. So look at coins. You can buy a world class rarity in gold still for UNDER $1,000,000.00. You can buy world class silver coins for UNDER $100,000.00. The entry level is really cheap. Further, we did not knwo Sothebys started in the 1700’s by auctioning books-and hard to believe coins. So if a person is out there looking for somehting to collect or buy into-coin collecting has been around forever and now has 3rd party grading so you don’t have to request a condition report (which may or may not be right). Plus, coins are one of th easiest things to buy off the internet.
All this is we think is why we’re seeing some really big new players come it. They can build a GEM Saint Set (which is really hard) for less then $10,000,000.00-which in the art world is a yawn. Of they can buy dozens of MS66+ Saints (like someone apparently is doing) for around $5,000.00 each and get the full benefit of looking at beautiful gold coin.
The last cycle ended when Gardners and Newman Collections were sold. We all sat around worried-will there be a new generation? Can we erase some of our problems like gradeflation and coin doctoring? Apparently we have come full circle. The grading services are much tighter and coin doctoring is not the epidemic it was. We have seen more substantial NEW collectors (NOT investors) enter the market in the last year then ever. They seem well researched and know what they want (of course the ones who come to us want PCGS CAC). The demand for quality has NEVER been as strong as it is today. We strongly believe the demand will continue to grow. Ouronly concern-lack off coins. That will again, catch up to us. But if prices keep rising, hopefully some coins will emerge from those deep back holes they are hidden in.
NEWPS
holiday weekend or not, we figure some people will want o look at coins. So we posted a few NEWPS. The grand highlight: the $10 1797 PCGS MS61 CAC . Gorgeous fresh coin.
The only coins we post to our web site are really and really eye appealing coins.
We will be available via email over the holiday.
ALL NEWPS ARE POSTED
LEGEND RARE COIN AUCTIONS
www.legendauctions.com
KABOOM! Last week our May Premier Sessions sale did awesome! Virtually ever coin sold. Many coins brought really strong prices. It yet again, proved our Premier Sessions sales are clearly different than any Internet Only sale.
We’re still exhausted from a our biggest and greatest ever sale-the May Regency Sale. It did so well, we are considering holding another 2 day sale next year in New Orleans again. Now we are back to out of this world one session 500-550 lot regency Sales. We do plan on having a larger Premier Sessions sale in June (we have an interesting consignment of some lesser priced toned coins).
Once we catch our breaths, we’ll be back to work making our sales even better!
We are at final call for consignments to July Regency Sale. All coins MUST be in our offices not a day later then June 1st. Look at what we have all ready:
The Ranjack Morgan Collection
A stunning PRE 1800 mini Type set (all PCGS ALL CAC)
The second half of the Steven Cook patterns
An awesome partial (nearly complete) Gold Dollar Collection that had been off the market for 20+ years -there are many OGH!
The single coins we have are all stunners too!
Contact Julie Abrams: julie@legendauctions, Greg Cohen: greg@legendauctions, or Jessica Berkman: jessica@legendauctions to discuss consigning your coins to any of our sales.We have hybrid programs we can customer tailor for your needs.
IF YOU HAVE ANY QUESTIONS OR WISH TO ORDER, PLEASE EMAIL US: legend@legendauctions.com. WE WILL NOT BE CHECKING OUR PHONE MESSAGES UNTIL 9 AM TUESDAY.
