LEGEND NUMISMATICS SELLS THE “TRIFECTA” FOR $13,350,000.00
Yes, we strongly believe in what we say. From our last Market Report: “There is ungodly sums to be spent out there. This is why we have been saying to take some profits. Once everyone’s tummies are full and the money stops flowing, it could be very rocky. We’ve seen this happen before.”
Legend Numismatics has sold the famous “trifecta” $1 1804 PCGS PR65 Dexter, 10C 1894-S PCGS SP 65+ CAC, and the 5C 1913 PCGS PR66 CAC Eliasberg. These coins belonged to our partner Bruce Morelan.
Yes, it is true he just completed this once in a lifetime group only a few months ago. Yes, he was thinking of holding for a while. However, when a very strong offer was made, and you have questions about things like the stock market, the economy, and other areas to consider, Bruce felt it might be wiser to take the offer now. There is no question Bruce is a collector at heart. He does step up ahead of the market to own these rarities. We assure you; he did not wake up one morning saying I want to sell these. The deal came about during a conversation Laura Sperber had with Ian Russell. It was a very quick (less then 24 hours) and smooth deal. Congrats to Ian and the new owners. For their purposes they got quite a deal.
We’d guess Bruce will own other examples of great rarities when he feels the time is right. He has owned just about every major classic rarity that exists. Until then, he’ll enjoy the money and memories. It NEVER hurts to take a profit.
Legend has owned:
$1 1804 TYIII PCGS AU58 Flannagan
$1 1804 TYI Dexter PCGS PR65
10C 1894-S PCGS SP 66 Simpson
10C 1894-S PCGS SP 65+ CAC Miller-ELIASBERG
$5 1913 PCGS PR66 CAC Eliasberg-the first coin to break $1,000,000.00!
5C 1913 PCGS PR64
THE BOB SIMPSON COLLECTION
There is even more coming up! We wish to state that Legend Numismatics was his exclusive dealer and sold him all of his coins. However, we want to make it clear we had nothing to do with recent upgrades. EVERY coin he is selling does have KILLER eye appeal. We expect these coins to still fetch record prices. Many of the coins-like the 10C 1853 W/A PCGS MS68+ and the $20 1861 PCGS PR66+DC are irreplaceable. You can bet we will be bidding on many of his coins!
For those of you who ask, Mr Simpson still owns MANY more outrageous coins. He will remain forever one of the greatest collectors there has ever been. His entire collection is about quality and eye appeal.
BACK TO REALITY-THE REAL CURRENT MARKET
The market lacks serious quality coins. You can buy dreck and loads of stuff. Only in the major auctions do the really cool coins show up these days.
We cannot buy the coins valued $2,500.00-$5,000.00 at all. We shop and we try hard to find them. We’d pay the price so long as it was not beyond the moon. We can’t buy ANY better Saints. Thank goodness we have the incredible Half Dome Collection of 20th Century Gold duplicates-all PCGS CAC (see Legend Auctions highlight page for Auction 50).
Nice coins clearly enjoy strong demand and are also in strong hands. For years people fretted why doesn’t Bill Gates collect coins? Today his equals apparently do-and they are younger! We worry about younger people collecting coins, we see MANY young people entering the hobby both as dealers and as collectors. The old guard was the class of 1959 (about a dozen current dealers were born then), we have not stopped to figure out what year the next class is-but it is there. We see there is a bright future for the hobby.
In November, NOT including the “trifecta” deal, Legend Numismatics did an all time record amount of business. It was so strong, it would have wound up better then what most dealers do in a year! We sold soup to nuts with several $500,000.00 coins being sold (all to Want List customers). We probably made the biggest dents in Want Lists in 5 years.
In our opinion, the meteoric rise of gold coins still concerns us. There are many collectors building serious sets of $10 Indians and Saints. Generics are still rising. We still advise you to TAKE SOME PROFITS NOW. The fact that Type is lagging so bad in our opinion presents opportunity. However, due to such a lack of great Type, it’s still costing significantly to own some. We do still like and recommend all Proof Barbers and things like MS Trade Dollars. There are few kinds of coins you can find with any frequency these days. Call or email us to discuss what you should be collecting or selling today.
TO CLARIFY ABOUT SELLING:
Our message seems to be misunderstood. We are suggesting you sell only your extra coins (dupes), or generic gold you bought too cheap. Rare gold coins are still fine to buy. We see a metoric rise in prices in certain areas-GOLD ESPECIALLY. Been there done that in terms of a rocket ship rise and fall. We do not want to see people miss strong opportunity. Selling in to a rising market is the BEST time to sell-NOT at the peak. You know your personal situation the best and your need for cash. Call or email to discuss your holdings.
THE FUN SHOW
It is now LESS than one month away. Be prepared. It is the last of the “closed for covid” shows. We think the crowd will be bigger and hungrier than ANA was. we know dealers are already scrambling to make appointments for “first shot”. BE PREPARED!
Have coins you want to sell or consign to us? Get them to us now! Have auction lots you want us to represent you on? Let us know now (all auction representation is on a first come first serve basis). This will be a very active show. We have high expectations.
Note: we will have limited hours the after December 20th until we come back from FUN. So please advise ahead of time what packages you are sending us.
NEWPS
Ugh oh! NO NEWPS this week. We’re saving the few coins we have for next week.
LEGEND NUMISMATICS IS AN AGRGESSIVE BUYER OF GOLD STILL. WHAT DO YOU HAVE? Sell into the craze!
LEGEND NUMISMATIC AUCTIONS
www.legendauctions.com
There is plenty of time to review and think about our Auction 49. Pre bidding is open. We assure you, it will a most happening sale! Eyeballs are at all-time record numbers already and pre bidding is strong with many lots busting past the estimates (which are high wholesale). Be prepared! Our smaller sales are powerful-if you’re a bottom fisher, forgetta bout it! However, if you see wicked cool and nice coins and will pay premiums, we’re the place to be.
Make your phone bidding plans now!
HAVE COINS TO SELL? CONTACT US TODAY
Our Auction 50 will be a smaller but amazing event. We have $1 million dollars worth of incredible 20th Century gold from the Half Dome Collection-highlights $10 1907 Wire Edge PCGS MS66 CAC and the $10 1907 Rolled Edge PCGS MS65+ CAC! The Young Collection of sensational Proof Morgans-PR66 DC and higher. And the Naples Collection of $5 Early Gold and other gold rarities Part II. Highlight: $2.5 1804 13 Star PCGS AU55-a top 100 coin. Other coins include a run of Early $5 1800-1897 PCGS MS62 CAC to MS64 CAC. You will want you coins to be sold with these!
Time is running out for consigning to this awesome sale. Call or email the best team in the business today: 732-935-1168.
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.
