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WOW
We are still marveling at how we did at the show. Last week we were nervous. Would collectors show up? Do dealers really still need coins? Do we have the right the coins?
Our very first appointment usually dictates how our show will be. In minutes we had sold $608,000.00! Activity never stopped and we ended the day with $1 million in sales! Not only did we sell strong, but there were no chisels. We pinched ourselves in disbelief. So how would Tuesday be?
Remarkably the action never stopped. Our “first shot” buyer even came back and bought a coin for $127,500.00 first thing Tue AM! Collectors were in attendance and a buying mode too. This is something we had not seen last year. If the show had ended Tuesday we would have been thrilled with our results.
The rest of the show was very good too. We really thought that with the huge ANA Auctions and the pandemic just about played through, the coin market would start to settle down to a slower state. NOT SO! Demand for coins (in our opinion) is far bigger than most people within the hobby realize. The black hole that coins disappear into only seems to be ever expanding (at least for now). Look at all the coins Bob Simpson has sold to date-$110 million. It’s our guess maybe $5 million is still out there in inventories. That means $100 million is in collectors’ hands. Even more will disappear Monday night. That is a lot of coins off the market!
In the end, we do not know of one single dealer who had a bad show. Our “super-secret stealth seller ” also had a million dollar plus show. We fully expect the ANA auctions next week to be crazy strong. At least for now, happy days are here in the coin biz!
PCGS CAC gold (including generics) was by far our strongest seller. Type did not seem so eagerly sought after.
Forgot to mention, the bourse floor was as dry as ever of cool coins. If you wanted uninspiring and ugly widgets, you could have spent a lot of money. Gone are the days when you could go to an ANA show and buy a set of Stellas, or some crazy rarity. Now the only way you see those kinds of coins are the displays the dealers bring to show them off or in the auctions. As you can imagine, our buying was the worst we have ever had at an ANA show. The only way we get really cool coins anymore is at auction or if the collecting public sells us something. Dealer to dealer trading is not the way to go if you need to replenish inventory.
NEWPS
Why are we even bothering putting up four NEWPS? Putting nothing up after an ANA show would be wrong. We could not buy zilch at the show. This was easily our WORST buying ANA show EVER. Plus, we have a bunch of Lifetime Achievement coins hung up at CAC (they closed ANA week). Hopefully (in our dreams anyway) we can spend some serious money in the next two weeks and refresh our NEWPS. Typically, at an ANA show we can spend $1-$2 million dollars. Spending below $100,000.00 total like we did is NOT good for our business!!!!
The four coins we posted for NEWPS are killers. The 1818 25C looks full GEM and has an outrageous ring of toning. The $5 1803/2 is close to full prooflike and is a dazzler. Bet the $1 1925 PCGS MS67 is BETTER then many MS67+’s (no promises it will +). Last, the $5 1818-is a very choice AU! These are all superior high-end coins! We suggest you email us as we won’t be back in the office until Monday.
Stay tuned for more NEWPS in a few days.
Legend needs to buy. Whether it’s one coin, or a million dollar plus collection like the Lifetime Achievement Collection, we are top dollar buyers! What do you have for sale? Call or email us today. WE NEED YOUR COINS!!!!
LEGEND RARE COIN AUCTIONS
www.legendauctions.com
Viewing and bidding on our Regency 54 sale are now on going. Of course, we put together another great sale.
Had many new friends stop by the table at the ANA show to consign for Regency 55 in October or to lot view. Everyone who came to the see the Perfection Collection of Bust Halves said they had never seen such a gorgeous set ever. Sounds like record prices are coming!
We’re seeking coins for our Regency 55 sale in mid-October and our final sale for the year on Dec 15th in Las Vegas. Generous cash advances available! Call or email the best team in the auction biz today!
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
