ANOTHER GOOD WEEK
LEGEND NUMISMATICS AND STAFF WISHES EVERY ONE HAPPY HOLIDAY!
Can’t say we are setting any records, however we are making more sales then we expected. We thought this past week everyone would be on vacation and we’d be chillin. If people were away, they seemed to have spent some of that fun time checking out and buying coins. Our sales ranged from a single $1 1880S MS66 to the six figure $1 1856 PCGS PR66+ CA Gold sticker. Again, we sold multiple five figure coins. In the end, it was another unexpected very good week.
We had been speaking to several major dealers all week we know who don’t fabricate how they do. It was unanimous that the worst of the market was leveling. Not one person disagreed that Jan though the end of Feb was some of the toughest times they had experienced in years. All agreed their sales this month were very decent.
As we mentioned around Pouge, the perfect negative storm had hit-very bad stock market, oil had crashed, gold had been down, and collectors had been tapped out from 4 straight years of huge auctions. We can tell you for sure, the upper end (million dollar plus) coins suffered in Pouge. They are still suffering to a degree-but at least that rubberband FINALLY broke and allowed for more realistic levels to be found. It turned out to be a blessing for any one buying from that session III. We are confident the next Pogue will see better results as will the majority of all other future auctions. We think the Pouge session III will end up the landmark for the deepest part of the down market of 2016.
CHEAP BUYS WON’T LAST FOREVER
There are still many buying opportunities. We do know each day now we are speaking to more people who have become interested in coins like PR Barbers, while we heard of a major MS Barber Half set being built (that is the ultimate buy in this market), and several people have started on Gold Type sets, etc. Plus, we are now being asked to call people with coins we feel are just “too good of a deal’ to pass on this market. Have not had that kind of interest in a long time.
Prices probably are bottoming in many areas. However there are NO real run ups anywhere. You do need to understand that special coins will rise above the pile in ANY market so relative to average coins they will always sell for more. It is still a huge buyers market. We can’t stress enough if you see really great coins in especially depressed areas-don”t be afraid to step up! Are really nice PR 66 Barber 25C going to fall below $2,000.00? Don’t think so. Again, key word: really nice!
The supply of great coins is extremely limited. We’re sitting here worried about what we can find in April. The market is too low for many people even to think about selling. That means pretty much dreck and retreads is all we’ll be offered or see at shows and auctions.
DO NOT BE AFRAID TO PAY A STRONG PREMIUM TODAY FOR A REAL EYE APPEALING, FRESH, AND QUALITY COIN. The really big and smart collectors do NOT buy for today. They buy for tomorrow (long term). And they very much DO earn the BEST returns. What we are saying is NOT hype, its fact that we see the back end of the cycle approaching. YOU CAN STILL MAKE SOME REALLY GREAT BUYS IF YOU PAY ATTENTION AND DO NOT USE ARCHAIC PRICES . We repeat this often not to promote our sales but to nudge people so they don’t end up buying after prices have gone back up or so they don’t miss great opportunities. Coins ARE cheap right now-but supply is ever so limited!
NEWPS
This week due to travel and the holidays, we’re only going to post 15 NEWPS. We still don”t get it, why are we the only dealers to whom rare coins-are really rare? If we ever list 50+ coins as NEWPS (unless we bought some big old time collection), the sky probably would be falling!
Every coin Legend Numismatics offers is vetted by TWO world class numismatists who not only have top tier bourse floor credit, but also have built the vast majority of this eras major world class collections exclusively and have handled more rarities then most dealers ever will. You can’t get our services, expertise, or quality of coins anywhere else! We really know our stuff!
We’re still searching for great coins. Please email George about what you have to sell: legend@legendcoin.com. We did just buy a six figure deal to get FOUR coins!
NEWPS ARE NOW ALL POSTED! ALLOW 24 HOURS FOR THE IMAGES (SORRY WE CAN NOT HOLD COINS FOR IMAGES). DON’T FORGET TO CHECK OUT OUR REGULAR INVENTORY AS WELL-SOME GREAT COINS WITH GREAT VALUES ARE POSTED!
LEGEND RARE COIN AUCTIONS
We were surprised at how much remarkable interest there is in the Quintupple Stella. We’re glad this extreme rarity has actually created a serious buzz (but then none have been for sale or even seen since 2008). We do suggest if you are contemplating bidding on it, please contact us first for credit clearance. Sorry, we will not be able to display the coin at Baltimore, we will have it at CSNS at the end of April. We will have the 25C 1827 Original on display at Baltimore (along with selected highlights)-yet another coin many people have never seen an example of. We shrug our heads every time we see these two spectacular rarities!
There are now 150 random coins from the sale listed on the auction web site. Of course there are many more to be added late next week (we got in over $1 million worth of great fresh coins last week alone). We wanted to give everyone a heads up. See the SNEAK PEEK link on the sites front page.
FINAL CALL FOR CONSIGNMENTS! We will have our usual tables at the Baltimore Show. Stop by, Julie or Greg will be on hand to discuss the benefits of consigning your coins to a Legend Auction. If you can’t go to the show, email Greg: greg@legendauctions.com or Julie: julie@legendauctions.com. Remember, we’re the small company with the BIG customers (just check our past auctions to see how many records we have set)!
IF YOU WISH TO ORDER OR HAVE ANY QUESTIONS, PLEASE EMAIL US: legend@legendcoin.com. WE DO NOT CHECK OUR PHONE MESSAGES UNTIL 9 AM MONDAY.
