OFF THE CHARTS BUSINESS
Since last Wednesday we have been so busy we got very limited hours of sleep. The business we have done in the past week rivals all we have done in our 45 years of business (minus the $36 million Pattern deal we did in 2008)! No question 2021 is an all time record year for Legend Numismatics.
Last week action heated up on Tuesday afternoon with a simple email. A collector was interested in a collection we had built. First thing Wednesday AM the deal was agreed too. Several MILLION dollars was wired into our account on Friday-even before we had the collection in hand! When we delivered the collection this past Thursday, we got the duplicates for auction. The duplicates are worth about $2 million dollars and are mostly Early Gold! We’d like to add, both collectors involved were not the typical suspects. The prices realized were record numbers (that is what you need to do to do form a world class collection). At any other time it this transaction would have made headlines. Collectors and dealers know, when we build a collection, its always a darn good one. We also flew out to pick up a six figure better Saint deal. Those coins are currently on their way to CAC.
Then we finally sat down and looked at a customers massive duplicate hoard of better date 20th Century gold. We have started to figure everything. Its ALL PCGS CAC. If you have a Want List for GEM 20th Century Indian Gold (and Saints)-tell us now. Sorry, there are NO PROOFS. We doubt these coins will even hit our web site (they won’t be for sale for another week or so). Some coins are slated for auction.
On top of it all, we were still selling coins off our web site. This past week we finally saw some action in Silver Type.
During all this, we were searching for a single W/M Saint PCGS MS65 CAC-and NONE of our wholesale pals had ANY to offer. In fact one, was short a few coins. Imagine that, a simple MS 65 Saint could not be located. That is crazy proof as to how dry the market really is.
NO way the market is slowing. We thought it would take a breather, but as fewer coins are available, demand seems to only be growing. That is also why it is smart to sell into the market if you have dupes. Take your profits and run! You always get more selling into an “up” market then selling into one falling. No one ever really knows when the top will be hit.
IF THE MARKET IS SO HOT WHY AREN’T MY COINS GOING UP?
We are NOT in a full BULL Market. We are inching there. In MANY areas you can sell coins for far more then 2015 prices. BUT in some areas: Early Copper, Lincolns, ALL Nickel coins age, most silver Bust coinage, and Merc Dimes, the market just is not teaming with collectors-yet and many coins are underwater price wise.
Silver Type is hit or miss within silver Type (go figure on that). That area is starting to percolate after a long depression. Right now only really eye appealing Silver Type are enjoying premium prices. Its actually good area to load up on. Key to success: EYE APPEAL. Make sure what you buy is either really pretty and if its a Proof-it MUST have strong clarity of the mirrors.
Of course everything gold is pretty much going up. G $1 and $2.5 are a little more sluggish, but they are doing just fine. Saints-all Saints are red screaming hot. The better the Saint, the stronger the demand. NON CAC Saints are still far from CAC pricing, but they are trading well.
When we make offers, we make them based upon where we know the current market to be and if we can figure a replacement cost. Remember, auction prices always happen ONLY in auctions. And even then, you have fees involved. For commoner coins, auction is not your smartest sales route (unless they are really special).
Have faith. You can make money owning rare coins. You just have to do it right and catch the right cycle. Heck look at the Banksy painting that 3 years ago self destructed and sold for $1.4 million. It just resold for $25 million! Right artist, well known piece, great work of art, in a strong market. Your works of art in the coin market will get there too (maybe not that extreme) if they are of the right stuff.
NEWPS
WE are madly in LOVE with our 1794 Half Dime. We bought it back from a long time customer. Great coin. Its the ONLY 1794 coin in GEM you can buy for UNDER $1,000,000.00!!! What a value!
The two MS64 Early $5 pieces we have are not from our new deal. These are two coins that came from another collector who upgraded (WOW)!
Last we had the time to write a few of the Walkers we have in stock. Nice coins. They seem like really good values at todays levels. We placed most of them 5+ years ago.
Next week the emphasis in NEWPS will be on copper, unless we get a deal in unexpectedly.
Until we work through the deals that are in house, check out our regular inventory. We have nothing but PCGS CAC coins in stock. Every coin is handpicked for quality and eye appeal. We try to only stock coins that are HIGH END for the grade too.
Spotlight: 1C J-198 1858 PCGS PR66 CAC Simpson. The finest known example. The coin is freakin gorgeous. Its got about 20 minted while a regular date Proof has 200. A regular 1858 Proof sells for $35,000.00+ in PR66 CAC-if you can even find one! This is what you sell or trade your dupes for. Of if you are an FE fan, there is no way you won’t LOVE this coin. Why do we still have this coin?
LEGEND RARE COIN AUCTIONS
www.legendauctions.com
Between Regency 48 being live and flying all over the country to pick up substantial deals, the auction house is crushing it! The staff has been working serious overtime.
Regency 48 is a TWO DAY SALE. Dates Oct 27+28.
We will have major announcements about coins coming up in our December and January sales shortly. Our results oriented boutique style has really attracted attention from consignors. Great consignors lead to record prices.
Regency 48 has had more eye balls so far than any other auction we have ever done! We can tell there will be many record prices set. Be prepared!
We are always accepting consignments. Our team (the best in the biz) will develop the ultimate plan for your coins. Our success rate is more then proven by the record prices we achieve!
Call 732-935-1168 for more information.
IF YOU HAVE ANY QUESTIONS AND WISH TO ORDER, EMAIL US: legend@legendcoin.com.WE DO NOT CHECK OUR PHONE MESSAGES UNTIL 9 AM MONDAY
