PREPARATIONS FOR ANA
Forever the week before the ANA Show has been quiet with little activity except for preparation the big show. We can tell you we had very few orders this past week. Its clear people are waiting for the auctions and the show it self.
Our expectations of the show for us-moderate to even weak. Attendance and coins available are not like they used to be. But then we never expected the MONSTER Summer FUN Show just had in early July. So we shall see.
For Legend, the ANA Show starts Sunday with us making the rounds to the dealers.
“THE TYPE SET” TURNS THE NUMISMATIC MARKETPLACE UPSIDE DOWN
We were in total shock to hear Oliver Jung was selling parts of what clearly is the greatest Type set EVER. Nothing will ever compare (sorry High Desert). Oliver clearly had his thrill of the chase and wanted to move on. If people remember, he sold a Type Set back in 2004 that was amazing too. When we were told this by his long time dealer and our long time associate Joe Oconnor, we were stunned. It rocked us like when Kenny Duncan sat us down and said Jack Lee wanted us to buy his DMPL’s and PL’s from his amazing set back in 1997. We never thought this would happen.
To be clear, Oliver s not fully cashing out he is keeping his favorites which include things like the 1C 1793 Chain PCGS MS66 BN CAC , $5+10 1795 pieces, the $5 1833 Proof-and other once in a life time coins. Sure, many of the coins we’d kill for he won’t sell!
With out any mass emails or a show, over $7 million from the set was sold in a week. We doubt there was even a hiccup in the market. It was only a small number of people who knew. Joe had an easy job because of quality. Regardless, to move that much off the market that quick is remarkable. If Laura and Joe weren’t the original toxic twins (same age, same birthdays, same love of coins), Legend Numismatics would not have had the opportunity to buy several wicked cool coins early on in the offering. This is why a good dealer with long term relationships can really help you. Of course the people who we work with the most will have first shot at our NEWPS from this amazing collection (we congratulate Black Cat for adding the incredible $10 1839/8 PCGS MS65 CAC to his wonder collection-MEOW!) .
Its funny, to Oliver and Joe, many of what they called “lesser” coins they are selling first blow away anything available on the market today. The ease at which these coins were sold and the strong prices they got (NOT VIA AUCTION) only reinforce how quality driven the market is.
Legend probably looked like hungry wild animals separated from a piece of meat when we realized what Joe had said to us. Poor guy was badgered severely by us, not just that day, but all week. We knew they wanted strong prices, but we knew there is ZERO supply of anything even remotely similar on the market. We did not hesitate to buy what was offered us. Guys, we want more!
Legend Numismatics and Bruce Morelan wish to congratulate Oliver Jung and Joe for building the greatest Type Set EVER. We can not thank you enough for allowing us to buy several treasures that are soon to be in great homes.
Thanks to this sale, Bruce now finally after a zillion attempts at a few different coins, has 100% completed the BEST EVER Bust Dollar Collection. Hard to believe it was an 1802 that kept him from complete. He has an 1802/1 in PCGS MS64 CAC that filled the date slot.
Whew, what an unexpected event. Its a HUGE positive for the market. Sorry to see this irreplacable set broken up tho…….
GOLD
Hello everyone! Any one listening?
Generic Gold is at HISTORIC record lows. We realize the stock market has taken quite a tumble, but gold is what to buy for long term hold an buffer against turmoil. We all know the world is having lots of turmoil. We are not just saying to buy gold to make money ourselves, there really is no money to make (we make our money from buying and selling coins like Oliver Jung has).
Right now, MS64 Saints are NOTHING. We like MS66’s because is the premiums pop, these have a bigger spread. We think MS67 Saints are too high. We like all $20 Libs MS64+ and higher.
We still suggest building a Type Set. Its a good diversity in gold and you can include what you want. Next in line, $2.5 Indians in MS64-65. WOW have they quietly sunk too cheap. Of course we LOVE all BETTER/RARE gold. We see most types of gold as great long term plays right now.
Keep in mind, even if gold pops to $1,600.00, the premiums could still lag. Its all about supply and demand. It will take time to yield profits on generics, but if noting else, they are safety. Oliver Jung selling his non classic rarities in gold should prove if you buy extreme quality (PCGS CAC) and rarity, you pretty much can’t go wrong.
NEWPS
ALL NEWPS ARE NOW POSTED
With ANA coming up wanted to do very small offering. This week it is 5 coins. Included is THE BEST 1795 AU58 HALF WE HAVE EVER SEEN! EVER!
Of course when we return from ANA we expect to have some really cool NEWPS-and maybe even a few Oliver Jung coins!
We can be reached via email while we are at ANA Show. Do not hesitate to reach out to us!
BUFFALO NICKEL COLLECTORS; WE WILL HAVE MANY DATES IN MS65 AND HIGHER (ALL PCGS CAC). AT THE SHOW. STOP BY! Have a Want List, send it to us now! When we get home, will start posting them for sale.
NEXT WEEKS ANA NEWPS WILL BE POSTED STARTING SATURDAY AFTERNOON. A MARKET REPORT WILL COME ON SUNDAY
LEGEND RARE COIN AUCTIONS
www.legendauctions.com
FINAL CALL for consignments to our Regency sale. We MUST have all coins in our possession no later then this Thursday! NO EXCEPTIONS. Space is extremely limited.
We already have a really special sale. Stay tuned as we will be adding more coins on line as they are checked in.
LRCA is also proud to announce that in the first six months of 2019, we created 92 world record prices! We doubt any other auction firm has EVER done that! Plus, many other coins we sold were near record territory as well. Browse through our past auctions for confirmation!
Email, call, or stop by our ANA Table. We’d love to work with you!
Stay tuned, the auction Legend Rare Coin Auctions will be moving! Watch for a new address and phone number.
IF YOU WISH TO ORDER OR HAVE ANY QUESTIONS, PLEASE EMAIL US: legend@legendoin.com. WE DO NOT CHECK OUR PHONE MESSAGES UNTIL 9 AM MONDAY
