LARRY MILLER-AN UNDERRATED COLLECTOR
Larry Miller had one heck of a collection-much larger then anyone ever knew. We commend his buying skills (and what he did w/Kevin Lipton). He had a gorgeous HIGH END 10C 1894-S which brought $1,440,000.00 while the really nice $1 1804 PCGS PR65 which brought $3,360,000.00. In our opinion, the star of the auction-a MONSTER $1 1795 2 leaves PCGS MS65 CAC which brought $576,000.00. We graded the coin MS65+ shot 66. We were very sore losers on this coin. The sale ended with a huge numismatic treat (even we could not stop drooling over these pieces), a MONSTER group of Mormon Gold coins. Of course those brought record money. We are proud to say our little kitty, Black Cat bought the $5 beehive PCGS MS61 CAC for $168,000.00-meWOW! Overall, this sale did incredibly well with prices realizing strong to record numbers for the quality coins.
There were some “off quality coins” like the 10C 1796 NGC MS66 which brought only $90,000.00. The 1796 10C PCGS MS66+ CAC we sold in November brought $293,750.00. BIG difference! This is why you should always work with good dealer and be a stickler for not only quality, but EYE APPEAL.
Here are some random prices from the sale (buyers fee included):
1C 1794 LIBERTY CAP PCGS XF45 GOLD CAC $13,200.00
2C 1864 SMALL MOTTO NGC MS65RB CAC $5,280.00
5C 1926-S PCGS MS64 CAC $19,200.00
25C 18788 NGC MS68 CAC $19,200.00
50C 1838 NGC MS65 CAC $31,200.00
50C 1874 W/A NGC MS65 CAC $20,400.00
$1 1879-CC PCGS MS64 DMPL CAC $26,400.00
$1 1896-S PCGS MS67 ELIASBERG CAC $132,000.00
$2.5 1802/1 PCGS MS63 CAC $84,000.00
$5 1803/2 PCGS MS65 CAC $168,000.00
$5 1839 NGC MS64 CAC $55,200.00
$5 1909 PCGS MS65 CAC $16,800.00
$10 1901-S PCGS MS66 CAC $9,600.00
$20 1895-S PCGS MS65 CAC $21,600.00
$20 1912 NGC PR67 $144,000.00
Were these record prices or just the market? We tend to believe both. Pick pretty much any coin we listed, these are pieces that have not been seen since Larry Miller bought them 15+ years ago. Plus, many enjoyed great eye appeal as well as being high end.
We did not post any Indian Cents (we did not pay attention). There were too many record prices in the MS Barbers (especially the halves) to post. We underbid our favorite half-the 50C 1892 MICRO O PCGS MS67 CAC (which brought $132,000.00) and we did buy our next fav Barber, the 50C 1894-O PCGS MS68 CAC Eliasberg. The inexpensive Barbers in many cases brought multiples of the estimated current levels (that has now changed).
These huge sales (Miller and Simpson) are a feast for both collectors and dealers. Its our loss because dealers can not compete against collectors most of the time. The important take away from these sales-they were both one and done. You see very few retreads floating around on the market. We use that as a gauge to the depth of the marketplace. Even in generics, we look around to see how many MS66 Saints are for sale. Today, there is not much of any thing available. That is why when these mega ales with cool and fresh coins become available the collecting public can’t get enough.
We can not stress enough that gold has to go bonkers in 2021 (gov spending will be bonkers). Hard assets are coming in their own. Big coins like the Simpson 1894-S 10C PCGS PR66 which brought $1,500,000.00 are going to new players. Coins of ALL areas will see growth in value in 2021. However, ONLY the top quality coins (for the grade) will have significant advances. Dreck can and will go down.
With MODERN baseball/hockey cards easily selling for over $1 million each, sneakers bringing $600G, and so many cars selling for $100G-$1 million, coins are darn cheap. We think people are seeing that. However, gradeflations past is still haunting us. We see that slowly being chipped away. Coin docs do not rule any more! At least PCGS has been on a tightness tear which makes us wonder what the new ownership will think as submissions have to be way down. Its a long term problem. At least a step has been taken in the right direction.
Outside of the auction, we had a surprisingly strong mid week of sales. Sales were $14,000.00-$48,000.00. We did not expect the activity. Our plan is to post a few more NEWPS and send out a few more emails to close out the year.
We put up a small group of choice NEWPS.
The grand highlight is the 1C 1916 PCGS PR67 RB CAC. You will never find one more perfect!
We tried as usual to find coins for all tastes and budgets.
Again, Legend Numismatics is buying. What do you have to sell? Out side of auctions, there is not much around.
LEGEND RARE COIN AUCTIONS
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