A “MUST READ’ NEW HOT TOPICS IS NOW POSTED. IT IS ABOUT AN ISSUE LEGEND NUMISMATICS HATES. IT IS A LETTER TO THE HOBBY WAS WRITTEN BY A PASSIONATE COLLECTOR.
WHAT THE HECK IS GOING IN?
The stock market for all purposes took a nose dive and is making a huge correction. Like millions of other people we are out on our first floor ledge ready to jump. We did not feel like doing much and since Thanksgiving not too many others seemed too interested in buying coins or doing anything. Its so strange that even after all this, we actually see some life-REAL life in coming back the coin market.
First, it should be known from our vantage point (including auction), no one is dumping. Its funny though to watch dealers starved for cash and still in denial that stuff has slid down in value. Luck is helping them. We understand a coin here and there is selling for most.
Last weekend we shrugged our shoulders when we read about Einsteins “God letter” sell for $2.9 million. We took a deep sigh and pondered maybe one day more coins will be there. Mid week we started to have some strange action. We sold a $550G gold coin. We ended up getting TWO PCGS CAC PR $20 Liberties in GEM! That is something we have not done in about 10 years. A few other really snazzy coins came our way too (all from collectors). Every coin we wanted to sell-has been sold. Each took less then 2 min to do the transactions. No, not all were on Want Lists, however this more then reinforced the demand for great coins is stronger then ever. There is just no way we can top this totally unexpected week. We’re now coasting for the rest of the month with any orders we get off our web site.
We have guarded optimism now for our final Premier Sessions sale. We probably should have more optimism since auction seems to be the new retail for many. Also, we did have a sudden momentum at the very end of November. Its been a very choppy experience.
NEWPS
As we mentioned, we are coasting. We put up a whopping 8 NEWPS this week. We are proud to say every single coin we posted is as HIGH END and eye appealing as you can get. NO Other dealer comes close to selling the true quality we offer. NO ONE. The grand highlight is:
$50 PAN PAC ROUND PCGS MS65 CAC
A Round in GEM MS 65 CAC? Yes, we have a beauty. If you were to attend a years worth of shows, you would not only appreciate that coin but all of our offerings. Puke, dreck, and stuff is all that is around. Its NOT the norm of the market, its more a function of the really good coins are in that “black hole” and are tucked away almost forever.
We can not state this enough (and we are doing so for a specific reason), BUY CAC beaned coins. CAC is an insurance policy if nothing else. CAC is especially helpful when buying toned coins and or gold. CAC will also prevent you from buying a doctored coin. We say all this because between now and our next Regency sale in the end of January there will be over 10,000 lots of coins sold. We already have seen one group of coins (which we rejected) that is being sold that is not as advertised. Almost none of the coins are CAC. Good chance if you buy any you will get burned. Sorry, we will not mention the coins-we told you how to avoid any pain though.
We will have a handful of serious NEWPS next week. Again, it will be just a few pieces. But oh, what coins!
Jose from Legend will be at the Las Vegas Invitational with some of our inventory. All the NEWPS are home. Still, stop by and and say high to Jose-he loves to chat with out customers.
Do not forget to check out our regular inventory as well. We have some incredible coins that deserve great homes!
ALL NEWPS ARE NOW POSTED
GOLD BUG ALERT
How the heck can gold bugs not be buying up every PCGS CAC MS 65 -Ms65+ Saint at $1,850.00-$2,000.00? Or how can you not buy MS64’s when spot is $1,248.00 and MS64 WHOLESALE CAC BID is $1,390.00? This stuff has become ridiculously cheap. Or you can buy NON CAC gold virtually at spot for 63/64 pieces (but they will only rise with spot and so many are dreck). For the record, we think the wannbes took MS66’s a little too far and are ridiculous on MS67’s, so we stay away from them and do not make any bids. They forget where demand is created-by the collectors and not in their minds.
We see too many opportunities out there-granted its only a coin at a time, like MS66 CAC $2.5 Liberties now would cost $1,450.00. Look at $3-an obsolete series. We think 64-5+ are great values.
It is Legend Numismatics strong opinion that building a Type Set-PCGS CAC MS64 and up is your best bet today.
LEGEND RARE COIN AUCTIONS
www.legendauctions.com
KABOOM goes the dynamite and the opening of our final Premier Sessions sale. With in TWO hours we had just over 100 registrants with many of them leaving some very impressive bids. This sale probably has as much fresh and super coins as we have had for our last six moths of sales. There are 2-3 super fresh collections in there. Check out this amazing 350 lot sale.
We regret stopping these monthly sales. Our focus is to making the Regency sales the best they can be and to do a sale every other month. Our January sale has insane coins: Need a buffalo 5C? We have totally fresh complete MS65 set. The 26S is an older holder PCGS MS65 CAC! Into MS Barber Halves? Oh do we have a partial collection that will be offered-highlighted by the 96O PCGS MS67 CAC. Of course we have a complete Morgan Collection from a single collector (all white-all PCGS). Then we have sprinklings of coins like the BEST EVER 1909 VDB PR66 RD CAC OGH we have ever seen (off the market since 1999). Or how about a $20 1922S PCGS MS66+ CAC? WOW! Then there is the 1946 P PCGS MS67+ CAC with the wildest color ever. The entire sale is PURE LEGEND QUALITY and we are proud of it. We work so hard to keep bar far above all other auction houses.
Legend Rare Coin Auctions is not nor wants to be Heritage or Stacks, We want to be a boutique where no one ever questions a single coin we offer and where we can offer superior services. Looks like in 2018, we are met those lofty goals!
Our current Premier Sessions sale ends December the 16th starting at 9 AM est. Remember we have only a 10% buyers fee!
If you have any questions, need to discuss terms, or wish to consign, please contact Julie Abrams: julie@legendauctions, Jessica Berkman: jessica@legendauctions.com, or Greg cohen: greg@legendauctions.com.
IF YOU HAVE ANY QUESTIONS OR WISH TO ORDER, PLEASE EMAIL US: legend@legendcoin.com. WE DO NOT CHECK OUT PHONE MESSAGES UNTIL 9 AM MONDAY.
