THE LEGEND COMPANIES WISH EVERYONE SAFE AND RESTFUL MEMORIAL DAY WEEKEND.
WE ALSO GIVE THANKS TO ALL THE TROOPS WHO FOUGHT FOR OUR FREEDOMS
BORING SHOW?
Not really. However we will state it is Legend Numismatics opinion this show should not have been held-especially because of the timing. Maybe a handful of West Coast people even attended. In fact, even dealers from NJ did not go. Overall foot traffic to the show was light. No isle was ever full. We have said this before about a summer show like this, the activity (or lack of) does not count against how the overall market is doing.
Legend actually did a tiny bit of business which was far more then we expected. We really came just to represent a few people in the auction (heck we even bought a medal). Our neatest purchases from the show were firm the auction-the 1C 1863 Aluminium Pattern and the 1C 1864 Copper Nickel Pattern. The floor was so dry of quality non retread coins that you could throw water on the floor and it would dry instantaneously.
We were fortunate to have picked up two huge deals one on the way to New Orleans and the other right after. so we have had a little ammo. in fact, we did a million dollars in sales in the past 10 days. It felt so good to be back in the saddle. Sorry, we can not say what one deal was, but we thought we’d have a hard time selling the coins- NOT one bit. We know the deal will be sold out with in a week or two. The other deal was stuff. Sold it all between New Orleans and Baltimore (not quite coins we’d put on the web).
Right now our office is seeing strong activity. Here too, we suffer from a lack of coins to offer. We also track our eye balls and other stats, those too are at record levels. Each week THOUSANDS of people read this Market Report. its not like its just a few people out there.
HOW DRY IS DRY?
Seems PCGS is absolutely holding the line. The crack out crowd is freaking that they are making maybe 1 out of 50 vs 35 out of 50 (what ever they did). We saw boxes full of NGC NON CAC coins all over the place. PCGS is pretty tight about crossing coins too. Good luck selling those coins. The market simply does not value NGC anywhere near a PCGS coin (and the crack out people love to take price shots). We think the rope around the crack out game just got even tighter. Bravo PCGS ! The chances of PCGS changing and “loosening up” seem to be zero. We do see collectors starting to have renewed confidence. Now, only if everyone can find coins. All we see are dreck and or retreads being offered.
As we mentioned before, Legend sales are off a huge % this year. The reason is simple-we can not buy the coins we want and need. We used to spend $250,000.00 at a bad show, and $1,000,000.00+ at a good show. Even Proof Type has disappeared. Proof gold-good luck finding and thing bigger then a $3.
How some of these guys are hanging on and are staying in biz is a wonder to us. We think they are just living off the fumes of when they used to rule the roost. As time goes on and the tightness continues, we see the market vastly improving. You will see one heck of a price spread between the great coins are marginal ones (there already is a big spread), just watch. This won’t all happen overnight, but its startling how after January 1 the grading game totally changed.
NEWPS
Ooops, we could not help ourselves. We said NO NEWPS this week. Well, we figured people would want to play coins over the holiday if they were camping or even were at the beach. So we posted 5 cool coins.
We also wish to make a note to collectors. At this Baltimore Show, we took more notice of the coins we normally passed over. Last week we posted a group of CLEAR MIRRORED and FRESH PR Type coins. These were really nice coins. You need to know at the Baltimore Show, the best the dealers had were NGC NO beaned coins that they wanted what we were asking-and in some cases more. Legend Numismatics knows it coins. We really do sell the BEST coins on the market at prices based upon the quality. We do not try and fool you with a lesser coin.
We stress this holiday weekend while relaxing you should checkout our inventory. We have serious quality coins you will find no where else. Of course we will always work as close as we can to get you into those coins. Do note: once those coins are sold, good luck finding another!
Expect NEWPS next week, then a break the weekend of June 8th. Still trying to get that semi-retirement thing down.
LEGEND NUMISMATIC AUCTIONS
www.legendauctions.com
We can not believe our June sale is right around the corner. The sale takes place June 27th at the Bellagio in Las Vegasl
You can see us building the sale now on our web site. What sale we have! A super start stud like the 1877 25C PCGS MS68, or the killer 1797 H.10 PCGS MA65 CAC, or the GEM $20 1921 PCGS MS64. This will be a stunning 500 lot sale.
We invite you to check out the listings (not in lot order yet) for find any coins you might need. Take our word on it, we are working overtime to make the sale available as soon as possible.
Regency Auctions for the rest of the year include:
September 26th Las Vegas
December 12th Las Vegas
We are also having a special “show case” auction October 24th feature sets built by Legend. We have the Coronet Gold Type set and the balance of the Young Dakota Collection. There might be one more surprise or two added as well.
If you have major collection, or a cool single coin to place into auction, please contact us. Our consignment coordinators are ready to create a personal plan to make sure you receive the maximum amount possible. Contact:
Julie Abrams: julie@legendauctions.com
Jessica Berkman: jessica@legendauctions.com
Greg Cohen: greg@legendauctions.com
This holiday weekend allow some time for emails to be returned by the Legend Auctions staff.
LEGEND NUMISMATICS WILL MONITORING EMAILS ALL WEEKEND.
IF YOU HAVE ANY QUESTIONS OR WISH TO ORDER, EMAIL US: legend@legendcoin.com. WE DO NT CHECK OUT EMAILS UNTIL 9 AM TUSDAY
