SURPRISING ACTIVITY
We thought the market would have died out. NOT! We are selling soup to nuts at a decent pace (spoke to a few other dealers who said the same). We’re even filling a few Want lists! Most important, we are dealing with several new names and a few collectors who are new to coins! That is what we really like to see.
Type has fallen to a point where its is a true buy. People sense it and are reacting. We do advise collectors not to panic and just sit tight if your series is being spanked. Both PR Seated and Barber coins are so limited in supply, demand will force prices up soon. There currently is NOT a bunch of coins to buy or ANY series or Type.
Nothing has changed from our view of being very bullish for PCGS CAC coins.
Try to buy the BEST you can afford. Real quality does count and makes a huge difference.
A lot of people are asking us what series they should collect. We think everyone right now should just buy what they like. They will gravitate into a “right” series to build over time. There are so many great (not just good) deals out there today.
TOO MUCH INFORMATION
Who the heck needs all this transparency? We believe in it, but there is too much. It is actually hurting the market. Too many misunderstandings or just plain WRONG information is being published.
First, understand that every coin is different except when it comes to pricing generics.
The majority of people do not know how to read or interpret what exactly published prices are. We had one long time collector who knows the game see a coin in auction sell for HALF of what he paid for his. Forget about the fact the one that sold was a NON CAC piece which was cleaned. Of course his CAC piece was HIGH END. He quit collecting right then and there. The sad note: we sold his coin for a small profit for him. He could not handle seeing the price difference (note: he made money on all his coins sold). You have to understand what you see in print. Clearly he did not. Do NOT be like him-step back and take your time to research and understand the numbers you see. And know that if you see a published price of a coin trading in 2013-that was 7 long years ago with NOTHING in between that last price is not today’s price. What ever the same coin sells for today, that is the current market.
Today, we finally have the PCGS CAC price guide which is slowly sorting out this mess. Yes, we have a clear two two tier market. But we have other things contributing to confusion such as auction prices realized. The average collector has no clue what a price realized means unless it is way too high. We find most collectors tend to levitate to the lowest price (a non CAC coin) even if they are shopping a PCGS CAC coin. Too many subilities to learn besides that. And not all information published is accurate or in many cases is up to date.
A note about auction prices: they should be used only as a “loose” guide. At least that are the most current. However, as seen with the recent FUN Sale, we know of several coins that “fell through the cracks”. Now forever there is an auction record. These coins are still worth more-but the public will now look at the last price (always look at a coins total auction history). It is our opinion, auction prices realized are the best place to gauge a coins current value, but they have their pit falls too.
The ONLY way to get through all this with out busting your brain-work with a dealer. Its not a pitch for more biz, its a reality factor that will make your collecting purchases more informed and will allow you to built a great collection. You do not want to be like our ex collector customer. You do not have to be.
When we buy really HIGH END coins, we pay more. 99% of the time we pay more then the published prices. In our world that is what it takes to own the coins. Every day we are frustrated by people who do not understand the prices of our coins. We are not kidding when we tell you we do NOT even make 10% on our coins any more. Very HIGH END coins suffer the worst from information overload to the world.
It is our opinion, the information overload is too much and too wrong in many ways. Hopefully time will work it all out.
NEWPS
As promised we have some exciting NEWPS. Highlights include:
10C 1796 PCGS MS63+ CAC A MONSTER!
25C 1947-S PCGS MS68 CAC POP 4
$10 1803 SMALL STARS PCGS AU58+ CAC
$20 1857-S PCGS MS67 CAC SPIKED SHIELD WHAT A DEAL!
We have several other great coins now posted too.
Check out our regular inventory too. We have some incredible coins that need to be in incredible homes.
NOT SO NEWP
There are several coins in our inventory we scratch our heads as to why they have not sold. One in particular is the $1 1880 Trade Dollar PCGS PR65 CAC. We posted this coin 12/06/2019. Why on earth has it not sold?
This is a great coin with REAL quality, REAL mirrors (these are rare with full clear mirrors), and REAL color. The coin is beautiful. It is a Proof ONLY date from a long obsolete and VERY historical series. CAC has only beaned 14. We are baffled as to why it has not sold. Its way below $10,000.00.
Our point, there are many “good deals” available. Coins are CHEAP today for the most part. Its priced at $6,500.00. You can NOT buy NICE pieces for less.
If you building a Type set or a PR TD set, we highly recommend this coin!
NEED COINS AGAIN!
Its really hard to find great NEWPS. What do you have for sale? We are especially looking for coins $2,000.00-$6,000.00. We will buy ALL PCGS CAC MS65 and higher DMPL’s. NO HAZE in the mirrors. Contact George Huang: legend@legendcoin.com with what you have for sale. We have many great options-including auctioning and selling on consignment vs an outright purchase.
WE ARE OUT OF NEWPS! NEXT WEEK WE ARE POSTING ONLY 2 COINS! OF COURSE THEY ARE FAMOUS RARITIES!!
ALL NEWPS FOR THIS WEEK ARE NOW POSTED
LEGEND RARE COIN AUCTIONS
www.legendauctions.com
THIS THURSDAY IS IT! Our Regency 36 sale closes starting at 4:30 PST time with a LIVE auction!
Call the auction company asap to set up phone bidding or if you seek special terms.
These auctions have lots of activity and typically set many records. So be prepared!
The auction company is always seeking consignments. Just wait until we announce the wicked cool consignments we have for March and May. You will want your coins in these sales!
Minimum Consignment $15,000.00 and $2,500.00 per lot (unless you have a major deal). We can craft a multifacited plan involving the auctions, selling via consignment or even a few out right purchases. Let us be your partners in selling!
732-935-1168
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.
