THE MARKET IS JUST FINE
We had a unexpected good Long Beach Show. The crowd was light, however dealers were still seeking coins for customers. Our PCGS CAC inventory drew many people to see what they could buy. The number of sales we made might be a record.
Our purchasing was the worst EVER! We bought ZERO at the show. No one had anything we wanted.
We clearly see the market as coming out of the dreaded post ANA doldrums. Web sites seem to be active again. Buyers in our world are seeking the best quality (does not have to be an expensive coin). Be aware that paying over published numbers simply means you may very well be paying the new market price.
THE BASS SALE
Insanity reigned supreme! The auction was a totally different market then reality. We got slaughtered on our bids-save for one good deal (a miracle). We underbid the 1848 Cal PCGS MS4 CAC at $460,000.00 hammer ($552,000.00 all in)! Our thinking going into the sale was that $350G hammer would easily get it. The buyer obviously had no limit. Ouch! Several other coins we were left scratching our heads. The buyers in these major named sales simply have to have the coin on the better rarer coins. Price is not an issue. Keep in mind, the entire session brought just over $20,000,000.00. That won’t even be a painting from the upcoming Paul Allen collection.
The coin we got lucky on-the $5 1909 PCGS PR67 CAC. We had passed on one earlier this year at $135,000.00. We paid only $114,000.00. Sorry, we will NOT flip it for 5%! There were only one or two others that we felt went cheap, but due to just about every coin going nuts at beyond Puto money, we were sort of unprepared to buy.
If nothing else, we were glad to see that given overall economic conditions, the bidding on every lot was aggressive. If your planning on bidding in the next Bass, you can’t think about values. You just have to suck it up and buy the coin. And we totally stress, BUY the PCGS CAC coins only!
NEWPS
Sorry to say, all the NEWPS we have come from our office. Apparently the days of us spending $1 million at Long Beach are way gone. In fact we’re lucky to spend $50,000.00. The grand highlight of the NEWPS is the 5C 1909 PCGS PR68+ CAC. WOW talk about perfection!!!!
As always we tried hard to find things for all price ranges.
Do not forget, in a couple weeks we will have a terrific group of GEM Walkers. Stay tuned.
LEGEND BADLY NEEDS TO BUY! What do you have for sale? It does not have to be PCGS CAC.
LEGEND RARE COIN AUCTIONS
www.legendauctions.com
We are live and going!!!! Visit our web site to bid on our exciting October Regency Sale. We’ve already are enjoying strong eye balls and even registrants!
If you have any questions, please reach out to the best staff in the biz!
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
