THE ANA HANGOVER
Have to be brutally honest here. We have been both spoiled and blessed by our post ANA office/web sales for many years. For what ever reason, the last two years have been very slow on the web. This year we had disappointing sales. One thing we do speculate on, the size and activity from the ANA auctions is just that huge. After all you are talking about 10,000+ lots of soup to nuts plus the activity from biggest show of the year. We sort of stalled out already.
Now, on direct sales to collectors and Want Lists purchases, we sold a near record of $4,000,000.00 this past week-with more to go over time. Included were coins like an 50C 1797 PCGS MS65+ CAC and some MONSTER Proof gold. Our market is far from dead! The best way to get first shot-work with us. Unlike others, when Legend builds a great collection-they really are just that!
The hottest area of the market we have few NEWPS: GOLD. Legend Numismatics is now high bidder on W/Motto MS66 Saints PCGS CAC Only. We have bought ZERO. At ANA we found NO $10 Liberties or commoner Saints we could buy. The supply is zero. Ditto for better gold coins too. This does not help our post ANA Sales. But Legend is clearly blessed to have some of the best resources in the business to find the great coins. In short time we hope to have a few examples.
We are still 1000% bullish on gold-all gold coins. The premiums are still frozen it seems and are stupid cheap. The better gold coins, well they are still super strong in demand with so few to be found.
As you all can see, Legend was starved of buying coins valued between $1,500.00-$5,000.00 at ANA. We’re not afraid to pay premiums either. THE COINS ARE NOT THERE.
In today’s market (that we see) quality is king. We do see the market as slightly choppy due to lack of supply causing lesser coins (especially dreck) to struggle price wise complicating things. The supply of popular coins is ever so limited. The supply of great coins-does not seem to exist anymore out side of auctions and a rare event like the Jung Collection being broken up (of which over $8 million dollars of top end coins sold privately in a week).
We are now in the time period we call the ANA hangover. Usually it lasts until mid September. This year, the summer doldrums broke in early July and activity was super strong for a few unexpected weeks. We’ll see what happens here. This week we upped the ante on our NEWP offerings to see if we can shake things up early by bringing out a few coins we originally were going to hold back until late September. We hold coins back in case our supply becomes non existent. We’re opening up our supply only because of a big deal we are closing this week.
LEGEND NUMISMATICS WILL BE ATTENDING LONG BEACH SHOW AND ITS AUCTIONS. COME AND VISIT US AT OUR TABLE BY THE SHOWS ENTRANCE-WE’D LOVE TO SEE YOU! LEGEND AUCTIONS WILL BE THERE TOO!
NEWPS
Last week was meager with what sold off the web. So this week we are bringing out a few NEWPS we were going to offer later in the year. They are special coins in their own ways. Highlights include:
10C 1829 SMALL 10C PCGS MS67 CAC POP 1 Ex Jung
25C 1892 PCGS MS68 CAC
50C 1897 PCGS PR68 CAMEO CAC Ex Jung
$1 1883 TRADE PCGS MS66 CAMEO CAC
Several of these coins are irreplacable! Even the MS68 25C Barber will most likely be the only MS68 CAC to come to market in the next few years as the collection it is from owns the majority of MS68’s! NONE of these coins were available anywhere at ANA or the auctions.
Of course with all of our NEWPS we strive to buy the very best coins on the market. We offer our coins based upon what we pay. That is determined by the quality and eye appeal of the coin-not just numbers! We’re old fashioned coin wonks and we still love to buy and sell the best coins!
LEGEND IS BUYING ALL GOLD- AND ALL PCGS CAC BETTER COINS. WHAT DO YOU HAVE FOR SALE?
ALL NEWPS ARE NOW POSTED
LEGEND RARE COIN AUCTIONS
www.legendauctions.com
Coming soon-Regency Auction 34 will be live with in the next week or so. All cataloging is now complete. Please visit the web site to see what is in the sale.
As expected this is another great Legend Auctions sale. Quality is the rule.
Please note, the auction company has moved into new offices. You can still reach them at 732-935-1168. All email addresses are still the same. Stand by for the new shipping address.
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
