SMALLER CROWD-BIG RESULTS
Post ANA historically has been a harsh time to do business. This post ANA is not-IF you have the coins. We sold coins over the phone and off our web site during the show. These are still “must attend” events. One of our long time customers who had been dormant for years just started a huge project and spent $900,000.00 out of the gate with us last week! Now we need coins for him!
Dealer attendance at the PCGS Invitational in Las Vegas clearly was below average with several of the regular “big boy” dealers being on vacation. The public attendance was light too-but that may have been more for covid reasons. Still, enough made it to the show for decent business to be transacted. Our pal the “super secret stealth seller” did not have a brief case full of cool coins still did $250,000.00. We had a collector fly in to do a $360,000.00 deal (one coin was $250,000.00). This was a show where we were concentrating on the auction.
Even though we knew there would be little there, our goal was to buy. We bought a whopping 2 coins! Neither was what we were really looking for and neither was gold. Back to the total dry spell.
We got lucky and heard of a major classic rarity back in the office last week. Boom! Done deal in minutes. We’ll have an announcement shortly. VERY cool coin.
THE CHICAGO COLLECTION OF BUST HALVES
We think Bust halves are neat as heck. BUT we forget the overall market for bigger players in them is quite small. This was what we call a “sleeper” series. We lost a lot of sleep leading up to the sale. In fact, the consignor was expecting to lose $300,000.00 or so. He did end up making a profit. But it was a learning experience and a labor of love for him.
We are pleased to say that The Chicago Collection of Bust Halves, exceeded our expectations and realized MANY record prices. The eye balls has been really strong the entire duration (for the time we posted the sale to 398 last minute registrants). Of course a small group of Bust Half Nuts attended the sale in person. Highlights from this group include:
Lot 1. 1794 PCGS AU58 CAC, realized $199,750
Lot 4. 1795 A/E in States. PCGS AU55, realized $27,025
Lot 10. 1796 15 Stars. PCGS AU58+, realized $258,500
Lot 12. 1797 PCGS AU53 CAC, realized $270,250
Lot 13. 1801 PCGS AU58 CAC, realized $61,688
Lot 18. 1805/4 PCGS MS62 CAC, realized $85,188
Lot 22. 1806 Knob 6, No Stem. PCGS F15 CAC, realized $96,938
Lot 23. 1806/5 Large Stars. PCGS MS63 CAC, realized $76,375
Lot 31. 1807 Capped Bust, Small Stars. PCGS MS65+, realized $108,687
Lot 36. 1809 XXX Edge. PCGS MS63 CAC, realized $44,650
Lot 41. 1811 Large 8. PCGS MS65+, realized $42,300
Lot 43. 1812/1 Large 8. PCGS XF45, realized $31,725
Lot 49. 1814/3 PCGS MS64+ CAC, realized $42,300
Lot 50. 1814 PCGS MS66 CAC, realized $61,688
Lot 55. 1817/4 PCGS F15, realized $211,500
Lot 56. 1817 Punctuated Date. PCGS MS64+, realized $35,250
Lot 73. 1822 PCGS MS65 CAC, realized $24,675
Lot 75. 1823 Patched 3. PCGS MS65 CAC, realized $36,425
Lot 79. 1824/Various Dates. PCGS MS64, realized $24,675
Lot 81. 1824 PCGS MS66+ CAC, realized $49,938
Lot 84. 1827/6 PCGS MS65 CAC, realized $52,875
Lot 89. 1828 Curl Base, Knob 2. PCGS MS65+ CAC, realized $49,938
Lot 97. 1830 Large Letters, Small 0. PCGS AU55, realized $34,075
Lot 118. 1839 Reeded Edge, Small Letters. PCGS VF25, realized $85,188
Type collectors were heavily involved on dates like the 1797 PCGS AU53 CAC and the 1824 PCGS MS66 CAC. Both brought world record prices. The comment of the night was from reknowned Bust Half Collector Chuck Link about the 1814 PCGS MS66 CAC that realized a world record $61,688.00. “I didn’t even get my hand up-it blew right by me”. If you know him, you know he bids really strong.
We wish to thank the consignor for allowing us to sell his wonderful collection. We also thank everyone who participated.
MORE THEN JUST BUST HALVES IN THE SALE
Here are more prices realized (all in). Is the market strong? Heck yeah!
Lot 142. 1C 1969-S Doubled Die Obverse. PCGS MS63 RD CAC, realized $41,125
Lot 146. 1C 1952 PCGS PR68 RD Cameo realized $64,625.00
Lot 184. 5C 1920-S PCGS MS65 CAC, realized $16,450
Lot 188. 5C 1913 Type I. PCGS PR68 CAC, realized $96,938
Lot 196. 5C 1945-D PCGS MS68, realized $3,525
Lot 220. H10C 1841-O PCGS AU58+ CAC, realized $3,408
Lot 229. H10C 1864 PCGS PR66 DCAM CAC, realized $9,400
Lot 305. $1 1796 Large Date, Small Letters. PCGS MS62, realized $123,375
Lot 310. $1 1801 PCGS MS63 CAC, realized $102,813
Lot 313. $1 1803 Small 3. PCGS MS62+, realized $58,750
Lot 315. $1 1846 PCGS MS64+ CAC, realized $25,850
Lot 336. $1 1882-S PCGS MS66+ CAC, realized $2,938
Lot 343. $1 1885-O PCGS MS65+ CAC, realized $6,756
Lot 346. $1 1889-O PCGS MS65+ PL CAC, realized $15,275
Lot 353. $1 1884 PCGS PR66 CAC, realized $15,275
Lot 357. $1 1924 PCGS MS67+ CAC, realized $34,075
Lot 362. G$1 1884 PCGS MS68+ CAC, realized $30,550
Lot 368. $3 1879 NGC MS63 GOLD CAC, realized $8,519
Lot 369. $3 1884 PCGS AU55, realized $5,640
Lot 370. $3 1887 PCGS MS66+ CAC, realized $32,900
Lot 371. $5 1846-D/D PCGS AU55 CAC, $6,756
Lot 372. $5 1897 PCGS PR66 DCAM CAC, realized $70,500
Lot 374. $5 1908 PCGS PR68 CAC, realized $94,000
Lot 377. $10 1908 No Motto. PCGS MS66+ CAC, realized $49,938
Top pop top quality-like the 5C 1913 PCGS PR68 CAC attracted a swarm of serious buyers on its way to smashing a world record we set on another just recently.
The facts prove, QUALITY RARE coins are not cheap any more in most areas. And gold, forgettabout it. Its going to be VERY expensive to buy GEM Better gold. Or CAC gold.
We see the market drifting along for the rest of the year unless there is a major auction coming out (which we have not heard of anything). Collectors do not realize the rare coin market overall is really not that big. With the rush of NEW money that has come in we are really feeling it today. No dealer we know has been able to buy and significant group of better coins. Most of it all goes into auctions where it can be like a feeding frenzy.
It is our strong opinion, people should be selling their lesser or dupe coins into this market. We still are paying $5,350.00 for W/M PCGS MS66+ CAC Saints. We’re uncomfy with many GEM Generic prices. A lot of people still seek them.
NEWPS
Yet another very small but VERY powerful group. We really LOVE the H.01 1835 PCGS MS65RB CAC. Its just so fresh and GEMMY.
Other highlights include:
25C 1893-S PCGS MS67 CAC
$1 1795 3 LVS PCGS AU53 CAC
$1 1934-S PCGS MS66 CAC
$10 1910 PCGS MA66+ CAC Ex Crow River
$20 1911 PCGS MS65+ CAC
25C J-879 1870 PCGS PR6+ BN CAC SIMPSON
Yes, we did buy coins in our sale! We had to be aggressive this time-we have an overhead to pay and badly needed coins! Next week we will posted those coins. When was the last time you remember seeing a GEM group of Bust Halves offered?
LEGEND RARE COIN AUCTIONS
www.legendauctions.com
Our Regency 47 sale was a HUGE success. It beat our expectations by multiples. We had hundreds of he right bidders participate and we had hundreds of thousands of eye balls. We are the not the biggest auction house around, but our results 100% match or exceed any ones!
LAST CALL for consignments for Regency 48! We have a great sale lined up with a great selection coins. The Boylston Collection, Part III continues to bring fantastic, high end and high grade Seated Liberty half dollars to the market. Lots of fresh, old holdered coins have been consigned as well, coins that have not appeared in auction in ages (if ever). Also included is the #2 set of Proof Walkers and unbelievably WILD set-built by Legend Numismatics! Last week we said we were looking for gold coins, and the call was heeded and we did get some, but with the market for PCGS/CAC gold as hot as it is, if you have coins to sell (especially better gold), get them in NOW! The auction will be held in San Diego, CA on October 28. Coins need to be in house by Friday, September 10. Talk to the BEST team in the auction biz today: Jess, Julie, or Greg today!
IF YOU HAVE ANY QUESTIONS OR WISH TO ORDER, EMAIL US: legend@legencoin.com. WE DO NTO CHECK OUR PHONE MESSAGES UNTIL 9 AM MONDAY
