The market really surprised us last week-including the mighty coins in the Stewart Blay Sale. We were not 100% sure if they would reach “Pluto” like money due to current conditions. Until last week, the market had been in the doldrums. Then with the 3 auctions, it came to life. Obviously buyers need to be motivated by seeing cool coins. Now, with little coming out until after FUN, collectors can digest their purchases. As we mentioned before, only “stuff” was weaker. If you have a great coin, with true quality, and great eye appeal, the demand is still there.
It is our opinion that December will be slower. We think many dealers especially had good years and also need to digest any winnings from last week. We know we do! Two of the biggest dealer sources of liquidity are now pretty much shut down due to an inventory tax they get nailed with at the end of the year. We have little doubt the demand is still there for great coins and life will return powerfully at FUN.
Legend had a very very good week! To date, our sales in November are OVER $4 million and were mostly to collectors! Can’t beat that. Due to our extraordinary work load this year we’re a bit worn out. Legend plans on closing its offices early this year. We expect to close Dec 18 and will reopen AFTER we return to FUN. However you will be able to reach us via email during that time. (we do NOT advise any calls).
STEWART BLAY COLLECTION
We suggest you read a thread on the CAC chat room Laura wrote about the late collector. It’s both a tribute and a lesson on collecting. Here is the link: https://forum.cacgrading.com/discussion/1097/the-blay-collection-lessions-to-be-learned-a-tribute
Legend is proud to have spent well into six figures in the last sale. We even bought the 1C 1883 PCGS MS67+ RD because we wanted to own one of his spectacular GEM coppers. We also bought the 1955/55 1C in MS65 RD CAC. We had purchased a monster example many years ago and had never seen a nice one since. Blays, first coin sold for $285,000.00 (which we think was that coin). We were the underbidder on the 10C 1907 PCGS PR68 CAC that sold for $77,500.00 hammer. We offered Ian $100,000.00 for it after the sale. The coin we are most proud of is that we bought: the 10C 1893-O PCGS MS68 PL CAC. Originally, he beat us on it in an auction. That was a coin we were willing to pay much higher than the $125G hammer we paid (sorry the coin is now sold).
We don’t know if we will be posting any of the coins we bought in his sale this year. Ever to us, we LOVE looking at great coins. If we did not have a partner, we’d probably be keeping them!
The main lesson to be learned from his coins is something we always preached: Buy the BEST quality and EYE APPEAL you can afford and hold. See, you can make money in coins!
NEWPS
Sorry about the slim list. We really did not see much out there we wanted (save for the Blay Sale). Still , look at what we have!
A rare and highly desirable $10 1795 13 Leaves PCGS MS61 CAC! WOW! .
We’ll possibly have a few more NEWPS in a week or so. Stay tuned.
LEGEND RARE COIN AUCTIONS
www.legendauctions.com
We have a small but amazing sale to end the year. It is now live and you can bid. The sale Closes in Las Vegas Dec 7 with 7 PM Est start. This sale has some exceedingly rare GEM DMPL’s that have been off the market for many years. It also has the exceedingly rare $10 1920-S PCGS MS61 CAC. You never see them, let alone one w/a bean!
LRCA is always accepting quality consignments. Call oe mail the BEST staff in the auction biz now. Our Feb sale already has a powerful $2 million dollar consignment that is 100% UNRESERVED! Add your coins now! Of course we will display them at FUN and beyond!
IF YOU HAVE ANY QUESTIONS OR WISH TO ORDER, EMAIL US: legend@legendcoin.com. WE WILL NOT BE CHECKING OUR PHONE MESSAGES UNTIL 9 AM MONDAY.
