THE MARKET IS HOLDING ITS OWN
Have nothing major to report about the Market. We had another strong week. However, that does NOT translate to prices moving up. Prices are still choppy and are more dependent on the coins quality then ever.
Legends Market can do well in down turns because we deal in the top tier of quality coins. Collectors know that if you really want the best, you come to us as that is what we deal in. After looking around NO ONE ELSE has the quality inventory that’s remotely close to what we offer. We’re NOT salesmen, we have two world class numismatists who hand pick every coin for their HIGH END qualities. This DOES make a difference. So we have a steady stream of business regardless of where the market is.
What most collectors do not fully understand, is quality is not buying a MS or PR68 coin. Its about buying a nice, eye appealing MS or PR64 or what ever. Much to our frustration, recently we have to had to go to great lengths to help a few “lone wolf” collectors who thought they could buy coins on their own or out of auction with barely any real knowledge. They thought they were getting deals-NOT! We do NOT fault them at all. Not everyone has the time to learn how to grade. However you really do not want to be them. That’s why we have written about using a good dealer to represent you at auctions or to help you build your collection.
One tip we will tell everyone: ALWAYS assume a coin has been to CAC. Very simple, WITH a CAC bean it will maximize the coins value. So what intelligent dealer or auction house won’t want to send their coins to CAC first? Sure there ARE exceptions about buying NON CAC coins, but if you are weak in grading-simply STAY AWAY from NON CAC pieces! Plus, while some people think they know how to grade better then the CAC folk, (another NOT), the one thing CAC will always guarantee -you won’t get any doctored or re-toned coins. That is huge since we all know the coin docs still try to fool the grading services every day (thank goodness to a lesser degree then a few years ago).
POSITIVE RUMBLINGS IN THE MARKET
While we sit back and watch a painting sell for $179 million (and be paid for with a credit card), a blue diamond selling for $48 million (bought for the owners 7 year old daughter), and a watch set a record at $7 million we wonder why coins are not as strong.
For what has been available, coins ARE strong. However we’re silently at the end of a collecting cycle. Several big market influences (Gardner, Pogue, Newman, and Greensboro) have retired. For the past two years all we saw were huge amounts being dumped on the market. Being so shocked by these sales, collectors have not realized how strong the backside has been. There practically are NO major coins from ANY of these great collections floating around the market lingering for sale. Plus, what we see -which is much more inspirational and promising, we are slowly and quietly seeing NEW mega money quietly popping up and seizing opportunities. We for sure there are a few huge secret better gold buys (like Early gold, 20th Century rarities, and Stellas) and we know of a few people how have become fascinated by Early silver. In our own customer bases have a few newcomers who are quickly becoming major collectors (they only buy the finest-PCGS CAC). Last, we have seen seevral YOUNGER sophisticated buyers enter the market. It will be a long slow process to get them active and market dominating like Gardner or Pouge.
Allow some time for this all to rise to the surface. They biggest problem we see will yet again be supply. Once Gardner and Pogue are gone, there really are no other major collections coming to market. We think in 2-3 years we’ll have a robust market again like we did in 2007-2008. While the coin market is big, its not so huge that it can’t resurrect rather quickly. Its actually doing so right in front of us and most people do not see it.
Be like the smart money-SEIZE OPPORTUNITIES NOW. If your a price buyer-you won’t get real quality, just won’t happen unless something falls through the cracks (which has become VERY rare). Smart money knows paying 10-20% more today is nothing to what they expect to have as returns long down the road.
We’re VERY proud of the SUPERB NEWPS we have to offer this week. Just about every NEWP could be a highlight. Look at these coins:
10C 1844 PCGS PR65 CAC
10C 1915 PCGS PR67+ CAC
25C 1871CC PCGS AU55 CAC
$1 1874 TRADE PCGS PR65 CAMEO CAC
$10 1932 PCGS MS66+ CAC.
Of course there are many other superb pieces for all tastes and budgets in todays NEWPS offering. Also don’t forget to check our regular inventory-we’ll work hard to get you into the coin of you desire!
Looking for CC $1 Morgans in MS67? Ask us now, we have a small group in ALL PCGS CAC MS67 WHITE!
LEGEND RARE COIN AUCTIONS
WOW! Not only is this 477 lot sale one of our biggest, its certainly by far one of our most quality intense mixed offering sales! A LIST OF THE COINS IN THE SALE CAN NOW BE VIEWED AT; www.legendauctions.com. We’ll have our catalogs ready to mail at the end of December.
We rejected MANY coins while assembling this great sale. We’re not an online or slop shop. We have actual numismatists who rank among the very best of the best who describe and hand pick the coins. Plus, we don’t believe a “RARE” coin auction should have 3000-12,000 lots (he hate the ones who don’t do real descriptions). Those are commodity and widget sales. Last where else can you have the most advanced, successful, and biggest buyer in all current auctions work for you 100% for FREE and represent you? Legend Rare Coin Auctions is different!
Look at these randomly selected highlights (really AWESOME coins):
1C 1793 WREATH LETTERED EDGE PCGS MS64BN CAC
1C 1854 PCGS MS65RD CAC-UNBELIEVABLE!
1C 1887 PCGS MS66+ RD CAC
2C 1864 LG MOTTO PCGS PR66RD CAMEO CAC
5C 1886 PCGS MS65 CAC
5C 1937D 3 LEG PCGS MS66+ CAC-THE FINEST!!!!
H.10 1796 LIKERTY PCGS MS63 CAC
H.10 1855O W/A PCGS MS67 CAC
10C 1829 PCGS PR64 CAMEO CAC
10C 1844 PCGS MS66 CAC
25C 1890 PCGS PR68 CAC
25C 1914 PCGS PR67+ CAMEO CAC
25C 1918S PCGS MS66+ FH CAC
50C 1837 PCGS MS65 CAC
50C 1861 PCGS PR66 CAC -KILLER COLORS!
50C 1923S PCGS MS66 CAC
$1 1851 RESTRIKE PCGS PR65 CAMEO CAC
MULTIPLE REAL WILDLY TONED MORGANS
$1 1881CC, 1883CC, 1884CC, 1885CC PCGS MS66 DMPL
$1 1904 PCGS MS66+ CAC
G $1 1867 PCGS MS67+ CAC
$2.5 1896 PCGS PR68 DCAMEO CAC
$2.5 1911D PCGS MS64 CAC
$3 1877 PCGS AU58 CAC
$5 1899 PCGS PR68+ DCAMEO
50C LINCOLN PCGS MS67+ CAC
50C SPANISH TRAIL PCGS MS67+ CAC
The majority of coins are being sold UNRESERVED! Check out the entire listing today. We expect to be live for bidding by Nov 23rd.
We know the sale is taking place around the holidays, so we are offering special terms to qualified buyers. Please contact Julie Abrams at email@example.com. ALL special arrangements need to be in place BEFORE Decemeber 15th.
WE WILL HAVE ALL THE AUCTION LOTS FOR VIEWING AT THE HOUSTON MONEY SHOW DEC 3-NOON THE 5TH (AT OUR TABLE OF COURSE).
Last, its not too early to consign for our February Regency Sale at the PCGS Invitational in Las Vegas. Contact Julie Abrams at: firstname.lastname@example.org. Remember, we do REJECT coins that don’t meet our standards!
IF YOU HAVE ANY QUESTIONS OR WISH TO ORDER OVER THE WEEKEND, PLEASE EMAIL US. WE DO NOT CHECK OUR PHONE MESSAGES UNTIL 9 AM MONDAY. email@example.com