CORONAVIRUS HITS LEGEND
Our partner Bruce Morelan who resides in Las Vegas got the virus. He seems to be struggling-its a rough virus. We pray for his recovery and wishes he gets over it soon. We suggest waiting to send emails to him-no calls (of course we will update everyone). He needs to start recovering-who else is going to yell at us? 🙂
Laura, George, and Jose are fine. Of course we are taking every precaution possible. We’re at the Jersey Shore 20 miles from the epicenter in NYC. Its very scary here.
Legend Numismatics is still open and can easily be reached by email.
4/5: Bruce still has fever but is felling better
ACTIVITY
This was the week where everyone kind of sat on their hands. We think the powerful reality of this virus and what its doing to the economy have now sunk in. Interestingly, towards the end of the week our web site became active again.
One buyer from our recent auction made this statement: It’s a really big nightmare. I was glad you had an auction. Took my mind off it.
As we mentioned before, there is an awful lot of “comfort” buying going on. Coins valued between $1,000.00-$5,000.00 sell well. $5,000.00 to $50,000.00 hit or miss. $100,000.00 and up, not too well. Still, for a time when there should be no life at all in this market-there is REAL activity. Also, as we had mentioned, several bigger WHOLESALERS are now liquid again. A few are trying to buy rare coins (one dealership is after $100,000.00+ coins).
Gold is hot. Nothing else to add.
There is a huge part of the market that is pure hard assets people. We hope they will keep buying and get more into rare coins. They started too the last two/three weeks. No new orders that we know of this week. We are talking millions are being spent here. We all know just a fraction of a % or money coming into coins can make a HUGE difference.
This is a buyers market, you should be able to get the deals you want. It won’t take much at all to start a bull market. We almost had one two weeks ago. This week was a reality check. The surprising thing: the coin market is alive and doing pretty darn good!
NEWPS
One of our long time customers needed to sell a few coins. He has been with us under the name Naples Collections. He has does several Morgan sets and even a great DMPL set. He has been with us for 25 over years! The coins he buys are only the BEST of the BEST. The 2 sets he had started to work on, Standing 25C and CC DMPL Morgans he is throwing the towel in on. Do not worry, he is working on two other major collections.
The Standing 25C are incredible. EVERY coin was bought only if it was VERY HIGH END for the grade and looked really good. He did not like weakly struck coins either. His favorite coin, the 25C 1916 PCGS MS65 FH CAC is just amazing. Its in an older green tag holder and is blazing white. If you seek a few HIGH END Standing 25C look no further!
CC DMPL’s WOW! This partial set is totally Godzilla! He love his dollars the most. He wanted THE DEEPEST MIRRORED and VERY BEST pieces. Sorry, originally we had to pay strong to obtain the coins. When you have ULTRA BACK AND WHITE coins that are legit near miss MS67’s, those are not coins you buy at sheet levels. His 1885CC is crazy deep-at least 10″+. WOW. We did not exaggerate the descriptions, the coins really are that crazy awesome!
There is an offering of KILLER Washington Quarters that have been off the market for at least a decade. The 1963-D-a total MONSTER (who ever thought Legend would say that?)!
Last to make collectors feel good we did reduce a few prices and relisted them as NEWPS. We will do a coin or two each week. We always mark coins up only a small % over our cost. We really do pay strong to buy the better coins!
Of course we will work terms on any coins-just talk to us!
LEGEND RARE COIN AUCTIONS
www.legendauctions.com
Due to the coronavirus, we have moved the Big Mo Collection sale to July. We are scrambling to find out if and where our May Auction will be. We are waiting to see where and how the auction will be held.
Stay tuned on the auction companies web site for updates. THIS IS A GREAT SALE!
We will be posting the coins for the May sale late this week (April 9-10).
Any questions please email or call the auction company 732-935-1168
Legend Numismatics and Legend Auctions will not put our employees and customers at risk during these trying times. Plus, we have a heavy protocal when handling the coins.
IF YOU HAVE ANY QUESTIONS OR WISH TO ORDER, PLEASE EMAIL US: legend@legendcoin.com. WE DO NOT CHECK OUR MESSAGES UNTIL 9 AM MONDAY
