A MISCALCULATION
We had so much expected a quiet time in mid July we elected not to post or offer in any way a bunch of better coins we are holding. Our thoughts were the market would be in he doldrums and the coins would just languish. Last week was a very quiet week for us. We did realize collectors actually were out hunting. We did sell a few five figure coins, but the cheaper coins were a bit sluggish. The on Friday-just as Brinks left our offices with gold inventory-BAM! Two orders for better coins (one was the 1910 $5 Proof). Reviewing what we sold during the week and after speaking to other dealers of our caliber, we now realize we should have put up a bigger offering for sale. The price ranges of $10,000.00-$100,000.00 seem very active (much to our surprise) while $2,000.00-$10,000.00 is languishing a bit (although in our Monthly Premier Sessions Internet only sale coins priced $3,000.00-$8,000.00 seemed the hottest. In the end, we realized we actually miscalculated the July Market.
GOLD GOLD GOLD!
You all know we are forever gold bugs. We LOVE where prices of all generic and better gold coins are right now. We do think the summer doldrums have slight affected this area. Add the fact gold is off 10% for the spring, and you have a great buying time (but then we thin all year is great to buy gold). Actually now you can buy even generic gold slightly cheaper at slightly reduced premiums.
Of course we beg collectors who understand to buy PCGS or NGC CAC gold.Yes, there is a CAC premium, how ever as the market returns and moves forward, that premium will only grow stronger and faster then regular premiums. There s no hype, the reason why, demand. While you may have 100 coins graded for a certain date, only 10 might be CAC. Obviously the market is more then 10 people, so hence the expanded growth.
There are many fun ways to buy gold. You can do small affordable sets-$2.5 Indians MS64 and put in an AU58 11D, you can buy $5 Libs 1900-1907 MS64-MS66. Or in Saints, you can a buy 24-28 P Mints in MS GEM. With the rare gold, you can only buy what is in front of you. At these price levels, you can’t blink because the best coins do sell fast. Do not expect a coin you see today to be available at ANA.
An FYI: right now any BETTER $10 Libs and Indians are impossible to find, as are ANY better Saints-even higher grades of generics!
P.S. Add MS Seated Dollars to grossly overlooked too!
OVERLOOKED AGAIN
We have noticed one of our favorite areas is long overlooked again. Proof Barber coins. All denominations have quietly drifted down a bit in value. The only problem w/that-you can NOT find any really nice pieces. The price guides are so screwed up and will report every drecky coin that sells.
There are so many different sets you can build. How can someone not build a GEM PR66 10C set when they are LESSS then $1,500.00 each? A PR66 set of Halves would be about $100,000.00. There so many sets and variations that can be built. All denomenations can be completed in grades PR64-PR67.
NOTE: when buying ANY Proof coin, the secret key to making money, BUY COINS THAT HAVE REAL CLARITY OF THE MIRRORS. If you are paying a premium this is a must. A grey or dusky coin (unless it is stupid cheap) is something you should avoid along with “washed out” looking pieces.
NEWPS
We have a wonderful selection of handpicked coins. We have 2 SS Central America coins that are CAC (you won’t find them any where else). At FUN we scooped up a long time favorite treasure ship date-$20 1865 Brother Jonathan PCGS MS63 CAC. There is an $2.5 1907 that is great and its at really good price along w/a $2.5 1914D in MS64+ that has fallen to a ridiculous price!
Thank you to everyone who responded to our “lets make a deal its summer” sale. We moved quite a few pieces. VERY smart time to buy. Remember right now for everyone, CASH IS KING.
Do not forget to check out our regular inventory. We have many great coins that are mysteries as to why they haven’t found great new homes.
Check back next week for what we promise will be killer NEWPS. We’re done holding back!
LEGEND RARE COIN AUCTIONS
www.legendauctions.com
Boom! This week was super active. We had our Premier Sessions sale. Activity was crazy. Especially when in the last 24 hours before the sale closed we had over 100 NEW registrants. We had a record number of winning bidders too.
Legend Rare Coin auctions is proud to announce that from the proceeds of this last sale, $2,462.85 will be donated to the stopcoinfraud.org. This will be the first of many fund raising activities we will do for this group.
Legend Numismatics wishes to thank every one who participated in making this yet another great a sale! next up: August Premier Sessions.
THE JULY 26TH REGENCY SALE
BID NOW! BE PREPARED!
Now our focus is on our fabulous July Regency Sale which closes with a live session starting at 4:30 Pacific time. . This sale as you may have seen, has just darn AWESOME coins in it. We’ll take our puny 600 lot sale vs the big boys 10,000 lot ANA Sales. Do NOT expect prices to be cheap. We strive to only offer great coins (many from Legend customers) and as you all know, great fresh coins sell for great prices! So be ready!
Bidding and bidder registration are already at record levels for this sale.
If you have any questions or wish to phone bid, Tuesday afternoon on, you can all the auction staff in Las Vegas at 732-233-0719. Prior to that you can email us or call our offices 732-935-1168
Stay tuned for a huge major announcement about a world class collection we will be offering in our September Regency Sale. We already have a ton of wicked cool coins. Space is already limited in what will be another TWO DAY SALE.
FINAL CALL FOR SEPTEMBER CONSIGNMENTS. Again, space is limited. Contact us today as our final deadline is soon.
IF YOU HAVE ANY QUESTIONS OR WISH TO ORDER, EMAIL US; legend@legendcoin.com. WE DO NOT CHECK OUR PHONE MESSAGES UNTIL 9 AM MONDAY.
