A GOOD CROWD
These shows are extremely well attended by BOTH collectors and dealers. This show-even though a few of the bigger players did not show, allowed for more face time by collectors with the smaller dealers. Thursday was the most crowded. The only complaining we heard, was about how tight PCGS was (go PCGS)!
We did more collector business and business in general at this show then we do at a Baltimore Show. In fact, with out much effort we sold $250,000.00 (virtually all gold). Considering we did not start selling until late Wed. that was impressive. Our super secret stealth seller sold $350,000.00.
For the 100th time, we urge anyone who has not been to a PCGS Invitational to go. The upcoming one in New Orleans being held on Oct 23-5th will be heavily attended because there are NO shows until then. Plus, PCGS puts out an awesome spread-and bagets-which causes the show to stop while everyone goes to get one (or two, or how many they can eat)!
We are expecting the major dealers to attend that show. We will be there with all of our coins and staff.
We thought the market would be a little more active by now. We can say it is starting to come out of its post ANA doldrums. This year was made worse by having a Long Beach Show 2 weeks later.
From our stand point, it is clear that REAL QUALITY rules. With proof coins, people want clear mirrors, with certain coins, collectors look at strikes, with gold some want them to be spot free. A coin can’t be 90% there, it has to be 101% there to sell for any significant premium. At least in auctions collectors certainly will pay the premiums.
Some collectors should take a step back and think about how they buy. Auctions are a competition. To win you have to beat someone. Unless its an extremely rare coin, why beat yourself up when chances are you can buy a similar coin for less from a dealer? Plus, the dealer should be there for you when you need to sell. It is the biggest myth that because you had an under bidder you are safe. Most of the time-even before an auction ends, a failed buyer moves on to something else.
Prices right now are not doing anything in the mid range market. In the top tier, especially in auctions prices are creeping up. In the lower tier, prices are still inching down. It seems dreck and retreads can not ever be cheap enough. Your best bet to know what is happening is to follow the auctions and or work with a dealer who attends the major shows.
Gold is totally perplexing to us. We do see some slight movement in generics premiums. There are so many bad generics around it will take some time to clean house before the premiums go back up. Until then we do suggest buying. Even a ratty MS 62 Lib is worth spot-how can you go wrong unless the price of gold plummets? We prefer the better gold as the premiums should expand far more as demand increases. We do admit to being big forever gold bugs.
THREE CENT NICKELS
Why do people not like them? It is our opinion, this series is the weakest are in the entire coin market. We see opportunity here.
These coins have fallen to ridiculous low prices. You CAN complete Proof sets in PR65-67. Even in Cameo pretty much. These can be really pretty coins. Every coin obviously is well over 100 years old. Last, it is an obsolete series.
You can buy some dates in PR66 Cameo for $600.00 and PR 67 for $1,000.00. In our opinion, that is dirt cheap!
Yes, the MS side is really hard to do (1883-1885 are killers), but the Proofs can be done.
We do suggest collectors start to consider this area. We do not see any sign of recovery at the moment. BUT we do not think the prices can or will drop any lower. Its insane you can buy a top graded PR68 CAC coin WAY UNDER $10,000.00 with all the series has to offer. We like a 66-67 set.
Legend Numismatics is now releasing coins from our 800 coin deal. Included are over 100 MS 61-64 $20 Libs and Saints. Some are PCGS , NGC, and CAC. Most are NON CAC. Stay tuned here for a list to be published by Sunday afternoon. Call or email us for prices.
As you can see we have a very interesting offering this week. The Peace Dollars are from a complete set (part of the 800 coin deal). Included is an amazing finest graded pop 1 1923D. The set is complete although we choose currently not to list any other non CAC coins.
We’ve already been hit on a few of our gold coins. Stay tuned, more to follow.
At the show there was so little to buy. We are still hurting for coins in the $1,500.00-$6,000.00 range. If you have anything neat, please call or email us! sorry, NO generic gold needed!
Do not forget to check out our regular inventory. We have many great coins-some of which really should have been sold by now. Of course we will work hard to get you into those coins!
$20 GOLD FOR SALE
ALL COINS ARE SOLD “AS IS”. ALL WERE HANDPICKED. ALL PRICES ARE FIRM
$20 1853 NGC AU58 CAC $2,950.00
$20 1876-S PCGS AU58 CAC $1,675.00
$20 1895-S PCGS MS63 CAC $1,900.00
$20 1896-S PCGS MS62 CAC $1,650.00
$20 1900-S PCGS MS62 CAC $1,650.00
$20 1910-D PCGSS MS64 CAC $1,950.00
$20 1912 PCGS MS63 CAC $2,375.00
$20 1914-S PCGS MS63 CAC $1,675.00
$20 LIB’S DATES OF OUR CHOICE PCGS MS62 CAC $1,600.00 each
CALL OR EMAIL US TO ORDER
LEGEND RARE COIN AUCTIONS
WOW! what a successful auction we had-even with the overall market being kinda of slow. Yet again we scored several world records (here are just a few): 17.5% INCLUDED
1C 1901 PCGS PR66RD CAMEO CAC $23,000.00
5C 1892 PCGS PR67+ CAMEO CAC $18,212.50
50C 1883 PCGS PR66 CAMEO CAC $9,693.00
50C 1963 PCGS MS66+ FBL $85,187.50
$1 1889CC PCGS MS63 PL CAC $99,875.00
$1 1926S PCGS MS66+ CAC $41,125.00
$10 1932 PCGS MS64+ CAC $2,467.50
Of course we had many other coins that had really strong prices as well. The most expensive coin sold-the 5C 1926S PCGS MS65+ CAC $246,750.00.
Just over 90% of the sale was purchased by collectors. They know they can trust the descriptions, the coins, the services, and the auction.
Legend Rare Coin Auctions also has made a commitment NOT to accept any coins from any known coin docs unless they are CAC graded. We are not and never will be enablers.
THE LEGEND AUCTION EVENT
We expect the coins to be posted by Tuesday of this week.
Included are 4 collections exclusively assembled by Legend Numismatics. The quality is off the charts!
This sale takes place at the New Orleans PCGS Invitational October 23-25.
Be prepared! Call the auction company at 732-935-1168 or email Jessica Berkman: email@example.com for more details. See the auction web site as listed above.
IF YOU WISH TO ORDER OR HAVE ANY QUESTIONS, PLEASE EMAIL US: firstname.lastname@example.org. WE DO NOT CHECK OUR PHONE MESSAGES UNTIL 9 AM MONDAY