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A STRONG SHOW
We did not expect attendance to be as strong as it was. Not just dealers, but an aweful lot of collectors attended as well. Buying and selling activity could not have been any better. We normally do not do much wholesale, but every dealer we showed bought something. Even our stealth seller had a good a good show. We can’t stress enough that you should come and check these shows out-they are the best way to meet and even deal with some of the real movers and shakers in the biz. Plus, they put out a heck of a food spread!
Right now many people realize coins are simply too cheap. Too much dreck and a slow summer hurt prices. Better coins finally took it on the chin as those coins have been reeling from all the big auctions of the past 2-3 years. Yet, you still cannot go out and buy even 2% from those sales today. Looking at all the dynamics for better coins, there are NO reasons for them to be so cheap. The only problem, good luck finding them.
As we have mentioned before, the summer doldrums are ending for sure. People are paying attention to coins again-when there is a reason too. We can proudly mention Legend Auctions sale last week at the PCGS Invitational brought out many collectors-including many who had been sitting on the sidelines for a very long time. Of course prices realized were strong-and of course record breaking for the toned Morgans! Our all time favorite piece-the 1882S NGC MS66 GOLD CAC EX Flannagan sold for a staggering $20,562.50, a world record price. For those of you who shake your heads, a coin like this is the ultimate work of art Mother Nature could produce for a coin. Its a unique painting sort of. When we bought it we paid $750.00 back in 1992 and were laughed at. We expect the new proud owner of this great coin to do even better down the road. A huge congratulations to Phil Flannagan for the sale not only of this coin, but of his last chapter of his great coin collection.
We knew prices for the toned Morgans would be strong, in many cases they greatly exceeded our expectations. Several world records were set. But then the coins were more then worthy. Here are a few highlights:
$1 1881S PCGS MS68 CAC $25,850.00
$1 1881S PCGS MS66 CAC PEACOCK SPLENDOR $7,050.00
$1 1882S PCGS MS68 CAC $20,562.50 (Legend is so going to miss this killer GEM)
$1 1885 PCGS MS66DMPL CAC $8,225.00
The sale did not just include crazy toners, we had some exceptional coins. Other highlights include:
1C 1886 TYI PCGS PR68 BN $10,575.00
2C 1871 PCGS MS66RD $27,025.00
3CS 1862 PCGS PR66+ CAC $7,343.00
H.10 1835 PCGS MS65 CAC ELIASBERG $8,812.00
50C 1795 PCGS MS63 CAC $176,250.00
50C 1851 PCGS MS67 $57,500.00
$1 1883 TRADE PCGS PR67 CAC $22,912.00
$1 1896S PCGS MS66PL CAC $111,625.00
$2.5 1901 PCGS PR69 DC $105,750.00
$3 1870 PCGS MS65+ CAC $67,562.50
Overall, the auction did extremely well. This sale clearly proved that real QUALITY and eye appealing coins are still fought over because there are so few to be had. Unlike other auction companies, Legend does not accept doctored or inferior coins. We don’t make our auctions into mass commodity sales. Our prices realized reflects that.
No doubt, the market is alive and healthy for the right coins. Stick with Legend Numismatics to get them!
NOTE: For those of you who ask about will there be a future generation of coin collectors? Sitting at our auction was a mom, two teenage girls and a young boy and girl. Giggling while bidding they had a blast buying coins. We spoke to them and they are just starting to collect-inspired by their uncle who loves coins and gave them the catalog. New collectors are coming in through so many ways.
Not to be the forever broken record, but its really hard to find the kinds of coins we sell. We have to go through so much dreck to find one coin-and then have to deal probably with a ridiculous price. BUT quality does NOT come cheap these days.
This weeks grand highlight is THE HIGHEST GRADED group of CC MS Seated Dollars you can buy! It took years to assemble this set.
Runner up is an extremely rare 1845O $2.5 PCGS AU58 OGH. A zillion years ago we tried to buy this coin. We feel the coin is really MS-or is .999 close to full MS. Its extremely rare and is gorgeous.
We even have a few nice Morgans this week (sorry, NO DMPL’s).
ALL NEWPS ARE NOW POSTED. DON’T FORGET TO CHECK OUT OUR REGULAR INVENTORY TOO!
Next week-BETTER Bust 50C MS63-MS66 and nice Bust GOLD AU53-AU58 (no pre 1800).
LEGEND RARE COIN AUCTIONS
We wish to thank everyone who participated in our Regency 18 Sale for making it a success! We worked hard for BOTH our buyers and sellers (our motto: a happy buyer makes a happy seller). As you saw above,many record prices were set. More important, we saw MANY new bidders and the total number participants was a record for us.
Now, back to more auctions!
Coming up: October Sessions Sale INTERNET ONLY . The sale starts Oct 11th and closes 10 PM EST Oct 18th. Of course we handpicked EVERY coin in the sale. This sale does include a great range of values up to about $12,000.00. We have more fresh CC GSA’s and there are THREE UNOPENED BIG BOXES of GSA’s (our last 3). Remember, our Internet Only sales have a 10% buyers fee. A list will be released mid week. Get ready!
We will also be having a second October Internet Only Auction. We’re calling it our CRAZY SESSIONS SALE. This sale has Moderns and a whole bunch of “stuff'” coins we had assembled over a period of time. Included are some wild toned Ikes, BU rolls of original Merc 10C, lots of 5-10 Walkers, GSA NGC graded Dollars, etc. There are MANY coins valued BELOW $150.00!
This last Regency Sale should be a reminder how different Legend Auctions really is. We’re NOT seeking the biggest sale with multiples of each item. We do accurate descriptions and strive to have good imaging. Our catalogs are hard bound and are sensational-we feel the Regency 18 book was a masterpiece! Even our Internet Only Sales are different. We have real bourse floor accomplished numismatists over seeing them. We don’t just slap up images and suggest you knock your self out. Selling true quality coins is what Legend and Legend Auctions are all about. Last, we communicate with our customers. You always have someone who you can talk to how actually knows coins!
We are now seeking consignments for our November Sessions Internet Only Sale. Minimum $7,500.00 per consignment, $1,000.00 per coin. NO reserves on coins under $7,500.00. Max value accepted per coin $10,000.00.
Our December Sale is shaping up to be another incredible offering. We are now accepting consignments for that sale. Space is filling up fast! We will limit our auction to 500 lots. Minimum per consignment $7,500.00 and $1,500.00 per coin (unless you give us a very large group). In our Regency Sales, we assure you-the top buyers in the hobby see and bid on your coins!
In all our auctions,generous cash advances possible.
to consign or for any questions, please contact Julie Abrams, julie@legendauctions or Greg Cohen, greg@legendauctions.
IF YOU HAVE ANY QUESTIONS OR WISH TO ORDER, PLEASE EMAIL US: email@example.com. WE DO NOT CHECK OUR PHONE MESSAGES UNTIL 9 AM MONDAY