VISIT US AT OUR LONG BEACH TABLE 601. REPS FROM THE AUCTION COMPANY AND LEGEND WILL BE THERE THROUGH SATURDAY. STOP BY AND SAY HELLO!
WE DO NOT BELIEVE THIS
Today, Friday May 31, all morning we were doing huge deals on six figure coins. We ended up selling nearly $850,000.00 too 3 different people. Considering we were dying in a huge drought (for us) of coins, we never though days like this would ever happen again.
As we have been moaning, we still have $20 million + in Want Lists to fill. So far this year we found maybe $250,000.00 worth of coins total-until this week. This week, it was boom, boom, boom every day. One coin, a MEGA MONSTER 10C 1796 PCGS MS66+ CAC with color to die for, had a conga line of people who we could sell it too. Note: the price was ABOVE $300,000.00. A new addition: on Saturday morning we sold two coins also in excess of $300,000.00 (total) with in minutes of us obtaining them! The buyer was thrilled. Make that 4 people now who have bought six figure coins from us in 24 hours for well over $1,000,000.00 (total) for immediate money! They all have the same thing in common, they can’t find any great coins to buy. When they come up they buy them knowing it is their only chance (in most cases).
This entire week was so strong, it almost erased our 5 month deficit. Interestingly we found NO Saints or big early gold. Proof gold is long in our rear view mirror (and oh do we have want lists for those coins). It just felt so good to have serious action of some sort every day. We are doing our best to look for the better PR Gold and things like DMPL Morgans (ok we did sell a killer 80O PCGS MS63 DMPL CAC). We had multiple requests already for the 1829 50C, we wish we could find more that have life like that piece.
The customer base of Legend Numismatics fully understands serious quality, how rare opportunities are to buy the great coins, and what they will have to pay to get them. We have ferreted out the bottom fishers and the people who refuse to get our program. Sorry, but we need to fully concentrate and those people who allow us to build the greatest collections -EVER. Its not about the money. We have several school teachers we work with and treat like kings-because they all “get it”. They have outstanding collections we are proud of. These days just know, if you are indecisive or can’t understand the prices, you simply will not be buying any better coins.
Here too, make sure your coins are PCGS CAC if you are buying MS or PR coins in higher grade. You won’t have to worry if the coins have been doctored or about the quality. CAC has more then proven itself.
BACK TO THE FUTURE
We are starting to feel good again about the coin market. We do applaude PCGS for still being tight. We see every time the stock market freaks like it is, the smart money is long out but looks elsewhere to put its money. Two weeks ago the Newhouse Art Collection broke records. if we took the top two most expensive items sold there (we believe they totaled around $210 million) and took that money and tried to buy the very best quality and rare coins, our market would be over. Even if a big fresh collection came out, what could that total be $25 million (Simspon and Tyrannt are not sellers these days)? The demand would suck those coins up in a minute.
The “black hole” of coin collecting has never shown its unlimited depth like it has over the past 2-3 years. How many GEM PR pre 1896 $20’s have been for sale? Try and build a top Saint or $10 Indian set today-all PCGS all CAC -you can’t. Even coins like our favorites-ALL denomenations of PR Barbers, they have become hard to find-and those are so affordable.
It is our strong opinion, based on the demand We see at our level, in 2-3 years prices WILL have pushed themselves radically higher. The worry about young blood coming is semi overrated. Several of our bigger customers started collecting coins after they made their money. They also had grown up with a coin collector in their area. There will always be some kind of influx. Thank you internet.
The market short term still has its peaks and valleys. If you want a really dead area-MS+PR 3CN’s. They are more then affordable. In Proof, a set can easily be completed for really not much money. We still highly recommend gold Type sets. Save for the stratosphere coins, there is so much great value that still can be bought relatively cheap. This WILL all dry up as the market returns to a bull stage. That is why we say a lot “opportunity knocks”-because we feel it could be last call.
NEWPS
We have a really nice group of NEWPS now posted.
Everything was selected based upon true quality and great eye appeal. We sell our coins based upon our costs. our costs are based upon the quality for the coin and its eye appeal. check out these highlights:
1C 1877 PCGS MS66 RB CAC
H.10 1859 PCGS MS67+ CAC
$1 1799 PCGS MS64+ CAC
$5 1908S PCGS MS65 CAC
Of course we have several other wicked neat coins in our NEWPS.
Don’t just look at our NEWPS! We have many great coins in our inventory that simply need great homes. A coin like the uber rare $2.5 1834 Capped Bust PCGS AU53 CAC. We LOVE this coin and it has not been on the market for years. The date is far rarer then any major classic rarity! We don’t mind the slow sell, its our version of a temporary collection!
IMPORTANT NOTE: JUNE 8TH WE WILL NOT BE POSTING A FULL NEWPS. WE MIGHT POST A COIN OR TWO, BUT NO FULL LISTING. JUNE 15TH WE WILL START AGAIN-BUT WE WILL BE POSTING THOSE COINS MAYBE SATURDAY EVENING.
ALL NEWPS ARE NOW POSTED
LEGEND RARE COIN AUCTIONS
www.legendauctions.com
A milestone has been met for Regency 33. While we are stuck with a lousy schedule, we now have all the lots posted. The sale with go live in a matter of days. We are still proof reading and correcting the images. So bare with us for a day or two-we felt it was critical to let everyone know what was in the sale.
We will have a few highlights at the Long Beach Show. Due to timing and catalog construction we will NOT have all the lots.
You must come and check out the Coronet II gold Type Collection that will be in our October sale. It is MIND BOGGLING! If you remember, he built the #1 PCGS CAC Morgan set a few years ago. he knows nothing but the very best in quality and eye appeal!
Already, we are receiving serious consignments for our next sale which is in September. For sure all those highlights will be on display at ANA. If you have coins or an entire collection you wish to consign, contact us today. We have several unique options so you may maximize your returns.
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
