LEGEND NUMISMATICS SELLS THE $1 1794 FOR A RECORD $12,000,000.00
We are sad to see our “old friend” leave. But our partner Bruce Morelan saw opportunity and the timing was right to sell. As we have been saying to people, certain things are hot, while we may not know where the top is, it never hurts taking a profit. Classic rarities like the 1794 (the FINEST) are red hot with a group of West Coast collectors disrupting the market and are buying virtually everything that is neat. When that happens, you sell to them. Since November, we have sold them $25,000,000.00-a sum unheard of for private transactions! Have to admit, they have bought many of the best coins that exist. Hope they have long term plans to hold the coins.
Legend has long considered the 1794 the greatest coin it has ever handled. It is the world’s second most valuable coin. But then it is believed to be the first Silver Dollar ever minted-so the value is more than justified. Maybe one day it will regain its crown as the world’s most valuable coin!
We wish to thank John Albanese for his assistance in selling this coin.
LEGEND AUCTIONS REGENCY 50 SALE SETS RECORDS AGAIN
After watching the FUN Auction (especially Simpson) break so many records, we were worried how our sale would perform. It seems the magic of the market remained hot for better coins. Below is a list of auction highlights. You will see it was not just the gold that was strong:
1 1776 $1 PCGS MS64 CAC $146,875.00
7 1C 1882 PCGS MS66+ CAC $14,100.00
31 3CN 1870 PCGS PR66+ DCAMEO CAC $12,337.50
65 5C 1892 PCGS PR67+ CAMEO CAC $17,625.00
90 5C 1913 TYI PCGS PR66+ CAC $8,517.50
103 25C 1870 PCGS PR66+ CAMEO CAC $8,518.00
140 50C 1897 PCGS PR68 CAMEO CAC $29,375.00
143 50C 1935-S PCGS MS66+ CAC $10,575.00
145 50C 1942-D PCGS MS68 $34,075.00
163 $1 1893 PCGS PR66+ DCAMEO CAC $29,375.00
172 $1 1875-S PCGS MS65+ CAC $14,687.50
198 $1 1902 PCGS PR66 CAMEO CAC $34,075.00
207 $5 1795 PCGS MS61 CAC $141,000.00
210 $5 1799 PCGS MS62+ CAC $73,437.50
214 $5 1804 SM 8 PCGS MS63+ CAC $64,625.00
217 $5 1806 RD 6 7X6 STARS PCGS MS64+ CAC $94,000.00
220 $2.5 1912 PCGS MS65+ CAC $34,075.00
223 $10 1907 WIRE RIM PCGS MS66 CAC $199,750.00
224 $10 1907 ROLLED EDGE PCGS MS65+ CAC $587,500.00
228 $20 1907 PCGS MS66+ CAC $$43,475.00
229 $20 1908 MOTTO PCGS MS65+CAC $42,300.00
236 $20 1927-S PCGS MS65+ CAC $246,750.00
231 $4 1879 PCGS PR64 CAMEO CAC $217,375.00
242 $5 1820 SQ 2 PCGS MS63+ CAC $73,437.50
270 50C LINCOLN PCGS MS67+ CAC $9,987.50
274 50C 1936-D RI PCGS MS67+CAC $8,518.00
276 $5 CLARK GRUBER PCGS AU58+ $52,875.00
For a smaller sale, everything about it was BIG TIME! From start to finish the eyeballs were at record numbers. We had as many registered bidders as we would have in a big sale with 500+ lots. Many coins had 25+ bidders. We can do what the big guys can!
These numbers are not because people like us (which we hope they do) but because we sold QUALITY-REAL QUALITY. That is what the market craves., Each of the 3 Collections we built: Young-Dakota PR Morgans, Naples Early gold, and Half Dome brought record prices. We spared little expense to place the very best QUAITY coins in those collections. It is what we do. As we all know from FUN, the Simpson coins did crazy too-we were 100% his only dealer! TRUE QUALITY DOES MATTER!
Officially now we have blasted past what is typically a dead time after FUN. Next critical time is early to mid April (tax time). There is NO offering of any serious auctions or quality currently scheduled. There certainly is NO glut of coins floating around-everything taht comes out is now one and done.
The PCGS Invitational was great. They always are. Due to Covid, the usual dealers did not attend. Collectors sure did. We know our “super secret stealth seller” had one of his best shows EVER for a PCGS invite. He sales were primarily to dealers with retail who (like us) were in almost desperate need for coins. Even if multiple dealers had already made purchases from him, the next dealer to look acted like it was first shot. Typically, when you get that deep into dealers looking sales slow-this show that did NOT happen.
Without much effort, our sales from the show were well into six figures. Most of our sales were gold coins. We sold an NGC NO CAC MS63 High Relief to a dealer for $23,500.00! This was a coin we got from a collector who heeded our advice to sell into the frenzy. He was certainly rewarded! We can’t suggest to people enough to sell their dupes or lesser coins into this market. Cal or email us if you have any coins to sell.
NEWPS
Yet again a small but powerful offering. We attend the PCGS Invitational with an open check book. We tried so hard to buy. Our best buy was an $1 1889-CC PCGS MS63 DMPL CAC (which we had on a Want List). We paid $85,000.00-and the coin was worth every penny. We’d buy another if any had a one with clear mirrors and strong contrast. Our biggest buy will be offered next week.
We primarily were seeking coins BELOW $10,000.00. As you can see, we have a whopping 3 coins listed. We’d LOVE to buy a collection of less expensive coins.
The highlights of our offerings are:
$5 1898 PCGS PR66 DCAMEO CAC
$10 1901 PCGS PR67 CAMEO CAC POP 1 THE FINEST
50C J-1792 50C 1915 PAN PAC PCGS PR66 RB CAC
Putting away any of those coins today should realize serious gains in years to come.
We invite you to check through our regular inventory of PCGS CAC coins. Its shrinking fast so don’t think too long of there is a coin you have been considering.
LEGEND RARE COIN AUCTIONS
www.legendauctions.com
We wish to thank everyone who participated to make this sale not only a success, but a record-breaking success!
The article above pretty much sums up how our sale did.
Our next sale is CSNS. Want to make your collection a highlight? Want record breaking performance? Call or email us with what you have for sale.
In Auction 50 there was a small but remarkably toned group of GEM Commems. The owner had approached us at show. At the time they were all in OLD NGC holders (3-4 coins). We liked them so we took them. We not only got them crossed but ALL upgraded. Then the coins brought record prices. We’re sure the owner is thrilled with how they did. We can work magic for you too! The value MUST be $2,000.00 per coin and $15,000.00 per consignment.
Our next sale is at CSNS.
We’ll craft the right deal for you. We can buy, auction, or sell on consignent. Call the best team in the auction biz: 732-935-1168
IF YOU HAVE ANY QUESTIONS OR WISH TO ORDER EMAIL US: legend@legendcoin.com. WE DO NOT CHECK OUR PHONE MESSAGES UNTIL MONDAY 9 AM.
