LEGEND RARE COIN AUCTIONS WEB SITE IS DOWN. OUR HOST HAD AN ATTACK. THEY HOPE TO HAVE IT RESLOVED THIS WEEKEND
THIS MARKET STILL HAS LEGS
We thought for sure we were heading into a slower time at the end of last week. So far we have not experienced any of the typical post ANA slow times. We liken this market to the Energizer Bunny that just keeps going….
Its not just us. Every day we start our day with a call from a major dealer who tells us not only is he unable to buy anything, but he can’t even find commoner coins he needs. He said he has been raising his bids just about everyday now and even if he stretches he still can’t buy anything. Quality coins-especially gold are impossible to buy today.
This past week started out very quiet. VERY. We figured okay the quiet time is finally upon us. NOT! From Wed on it was crazy, We sold soup to BIG NUTS (the 1868 PR set) off our web site-all unsolicited. Wed alone we did $160,000.00. Thur and Fri BOTH started with sales of $30+$31G coins. Our biggest issue: we have NO replacements for anything we just sold. There are NO shows until the end of October (the PCGS Invite in San Diego). UGH OH!
There were no seriously special coins (at any price grade for us) at the Long Beach Show (which was highly attended by collectors-remember it was the first LB in a year +). More UGH OH! Our super secret seller had a HUGE show: as he had sold $685,000.00. Neither he nor us expected it. In fact we crowed at him he’d be lucky to sell $250,000.00 at the show. A good oppsie!
We do still have well over $3,000,000.00 worth of cool coins listed on our web site. We’ll just have to live with selling down or inventory. Our praying to the coin gods for fresh deals does not seem to be helping. So its back to groveling to the public to sell us coins-WHAT DO YOU HAVE?
LEGEND NUMISMATICS SELLS ANOTHER MILLION DOLLAR COIN
This deal started last week. We are proud to have started a long time customer on a monster 18th century Type set. His first coin: $5 1795 PCGS MS65 CAC ex Pogue/Garrett. We think the coin is better then just a 65 (we’ll be happy w/a +). We’re going to resubmit for the collector. Never saw anything like it. The coin has a FULL strike, is super clean, has some frost and is totally original. Can’t imagine what each owner did to make stay in such a pristine condition for its 226 years! Crypto guys and billionaire collectors watch out! There is a new player in town for some big girl Type coins! This coin was sold for a sum in excess of $1,000,000.00 (it sold for $646,250.00 in 2015). It was purchased from John Albanese (CAC). John had been in love with this coin for years. Oh was he right!
If you have any FINEST KNOWN PCGS CAC 18th Century Type, please let us know. Could use 2 1796 NS $2 1/2’s. Must be AU 58 PCGS CAC or better.
BUY COINS FOR THE LONG TERM
Every “up” cycle ends. No one can figure when any cycle (including this one) will end. So be prepared.
BUY COINS FOR THE LONG TERM. The long term is NOT 2-3 years. Typically short sighted people miss the top of the market and try and sell while its either falling or has completely settled. If you buy and hold for real time-like 5+ years, you have a strong chance to profit. Yes, you can profit during short term swings, but you have to pay close attention and do not out think the market.
During 2015/16 the market for sure hit a slump with huge collections Gardner and Pogue coming out. Most (but not all) coins values have seriously lifted since then. However, the Pogue sale of March 2020 ALL of the gold coins are now up 20-30%. That was a lucky short term positive hit. BUT the only coins from that sale that are in profits-are gold.
It does not matter whether you are buying from a dealer or an auction. ALWAYS think LONG TERM. We like to say a smart collector makes the best investor.
With this semi-bull market (not all coins have come up in value) we are uncomfortable with many generics pricing (even though there are none around). So we are encouraging people to sell their dupes or take some profits. Don’t know where the top is. NOTE: you never get hurt selling into a strong market like today.
Again, even in a bull market that does not mean what you recently bought will be able to be sold for a profit. This is NOT the stock market!
NEWPS
We managed to find a few fresh coins (and the $5 1795 came to us). We LOVE the 1C 1856 FE PCGS MS64. Its a real MS piece and its got ALL the bells and whistles of the right certifications. We have not seen one offered in ANY grade in YEARS!
The 1857 Proof set is no slouch either. 164 years old. Several obsolete coins. Several GEM choice/GEM coins. WOW!
There are a few new choice gold pieces for your consideration. Once they are gone-good luck finding anything similar!
LEGEND IS BUYING. WHAT DO YOU HAVE FOR SALE?
LEGEND RARE COIN AUCTIONS
www.legendauctions.com
Our Regency 48 Watch List is now posted! Eye balls to this list are already at record blow out proportions! We also has many people stop by and lot view at our Long Beach table.
THE SALE SHOULD BE OPEN FOR BIDDING STARTING MONDAY MORNING 10/4! GOOD LUCK! YES, OUR WEB SITE IS DOWN CURRENTLY AND US BEING WORKED ON.
THIS IS A QUALITY ORIENTED SALE. NO dreck. It maybe the last time this year you’ll see such a large group.
NOTE: THIS IS ALSO A TWO DAY SALE. WED+THUR OCT 27+28 STARTING AT 4:30 PST.
Start making your plans now. If you have any questions or need to make certain arrangements, call or email us now.
We are always accepting consignments. Next Sale Dec 16th at the Las Vegas PCGS Invite.
IF YOU HAVE ANY QUESTIONS OR WISH TO ORDER, PLEASE EMAIL US: legend@lendcoin.com. WE DO NOT CHECK OUR PHONE MESSAGES UNTIL 9AM MONDAY
