ON AGAIN OFF AGAIN
VISIT LEGEND NUMISMATICS AT THE BALTIMORE SHOW
Just when you think the market is rolling back-bam! Light switch is turned off. We do see a few clear reasons as to what is happening now and why.
This year for whatever reasons, we know many people just got wiped out by paying taxes in October. Many collectors are asking us for terms through FUN. Another is collectors retreat when there is nothing to buy. Of course EVERY FUN and ANA collectors reappear because there is a fair amount offered. When this happens we go into quiet times like we are now. At ANA this year if you include the $20 million or so of the Oliver Jung coins that sold the week before ANA, the market really got slammed and a lot of bellies-even big bellies are full up. The collecting public can only take so much. Last, where are all the coins? You can’t even buy nice MS 65 DMPL’s anymore. That black hole is the biggest we have ever seen.
Our huge offering had huge record breaking eye balls. There was and is substantial interest, the coins simply are slower sellers due to higher values. The biggest coin we sold this past week was the gorgeous 10C 1797 PCGS MS66 CAC. We expect to have two other major coins sold by the middle of next week. Its right where we expected to be. Only one big coin bothers us that has less interest then we thought it would.
We did another gold email it nearly sold out. We’re done with the generic gold sales.
Our expectations for the Baltimore Show wholesale wise are zero. PCGS has been extremely tight with many dealers simply not making ANY coins. That means few coins to buy and sell at shows. Plus, dealers are broke. That means no one to sell too for liquidity purposes. Collector wise we expect marginal floor attendance as shows like this just do not have great coins offered any more.
BUY BUY BUY -ALL GOLD
With gold dropping now is your chance. BUY EVERYTHING GOLD! Oops our gold bug side is showing. Now is the time to build that MS64/65 Type set. Or buy slightly better semi generics. Anything where the premiums have dropped. And of course, buy all the better gold you can PCGS CAC of course). PCGS CAC Proof gold has totally disappeared.
BUY RIGHT NOW
This is not a sales pitch.
The reason why you buy right now, many dealers are hurting. They can’t make coins and can’t find much for fresh inventory. IT IS A CLEAR BUYERS MARKET TODAY. Note: just 2 weeks ago it was not. After Baltimore the switch could easily flip and things heat up for a run.
Even if you think a coin is too much-in reality it may not be. Your looking at a market that quietly slithered down by about 10% overall. The dreck a lot of dealers still have has sunk to crazy low levels. Thus when they get a nice coin while they might try to ask a ransom, all you have to do is “immediate funds, I’ll pay x”.
There are many areas of the market that were too cheap a few weeks ago and now are stupid in your face cheap. Now they are real bargains (like Gold Type). This funk does happen every year. Just this year its doing more of a wave and taking longer to come out of on a positive note. To us, this is so frustrating.
LEGEND IS BUYING
Our Want Lists still total over $20,000,000.00.
Today, Legend Numismatics is a buyer (how can we not?), but the coins have to be what we want. Every time we say that we we are buying, we get offered everything we do NOT want. We’ve been very aggressive on gold and Type. We just sold a MEGA MONSTER 25C 1892 PCGS PR68+ Cameo (cert: 31671206) in a few strokes of a text (our price paid in excess of $20,000.00). Offer us coins like that or anything FINEST known and if we like it we will do everything we can to buy the coin. We especially want GEM MS65+ PCGS CAC DMPL’s. NO HAZE!
The market may have temporarily slid a little, and we are more then happy to pay thetop end of current prices. Of course we can’t find much at all. Sorry, No Buffalo 5C or Mercs unless they are the finest graded pop 1’s PCGS CAC.
We will buy entire collections to buy the coins we need. Call or email George Huang.
NEWPS
Not the biggest offering, but as expected from us the quality of the coins are off the charts!
The highlight coin the 1924D $20 PCGS MS64+CAC. This coin is in its own galaxy!
Every coin listed is really of highest quality for that grade. Plus, we only pick coins with great eye appeal.
Coming next week: collect $3 pieces? We just bought one of the rarest ones in PCGS CAC MS64. Stay tuned. Same for Gold dollars too.
We expect to have all the NEWPS posted by noon Saturday.
LEGEND RARE COIN AUCTIONS
www.legendauctions.com
WE WILL HAVE HIGHLIGHTS OF THE SALE AT OUR TABLE AT THE BALTIMORE SHOW
Monday our Regency 35 sale goes live! You can check out the sale now everything is posted and is in lot order. We are still doing some editing-including some estimates.
This is yet another really high quality sale. You can bid with confidence on every coin in the sale. We expect a ton of aggressive bidders as you can’t find coins like these in many places.
If you have any questions, call or email the auction folk: 732-935-1168. Terms are available-but they MUST be agreed too BEFORE you bid.
THE JANUARY REGENCY SALE
We are accepting consignments today. We just got in an amazing OLD HOLDER PCGS MS Seated Dollar Collection for the sale that has been off the market many, many years. You’ll want your coins sold with this set! Call or email us with what you have.
IF YOU HAVE ANY QUESTIONS OR WISH TO ORDER, EMAIL US: legend@legendcoin.com. WE DO NOT CHECK OUR PHONE MESSAGES UNTIL 9 AM MONDAY.
To everyone who has made comments to us about Sundays Jets/Giants game-no one team does not have win the stink bowl game. I predict a 0/0 tie……….Ok, I was wrong. BUT after all these years, of all things to happen-the man himself, the real Mr Jet-Joe Willy Namath sat right next to me in the club. I got a great pic w/him and n a hug. Nice guy!
The jets still rot!!!
