TOTAL INSANITY
We expected strong prices at the auctions, not total insanity. We got nuked so bad we quit bidding in BOTH auctions early. It was worse then having whiplash!
Yes, there is THAT MUCH money out there. We hope collectors do not get indigestion. It remains to be seen how much spunk this market really has. So far for the entire year, it has exceeded our expectations.
Better PCGS NON CAC coins and NGC coins (NON CAC too) sold into beyond moon money prices in the auctions.
Yes, prices are up 10-15% (after ANA), BUT that does not mean every coin YOU own has risen in value. We MUST warn people, do NOT expect to get those crazy numbers-even in a future auction. It was more like a perfect storm hit. Now we have to see if we are in a serious bull market or was it the final legs of one. Keep in mind, in a true bull market EVERYTHING sells for a profit.
We do advise you sell into it if you can-this is our opinion. Gold is the hottest ticket. We are highly uncomfortable with PCGS CAC W/M MS66 Saints. We are now paying $4,200.00 per coin. MS66+ W/M PCGS CAC Saints $5,500.00. We’re uncomfortable with PCGS CAC MS65 $3 pieces. We’d pay $11,000.00 per. Call or email us for quotes on our gold buy prices.
Even if you don’t have gold, you might want to consider selling into the euphoria. Remember though, if you want auction prices, put the coins in an auction (unless its a true rarity)! It is our strong opinion that many of the auction buyers will be in hibernation until FUN 2022, unless some big or killer collection hits the market between now and then.
If you can afford to hold a long time, then you’ll be in good shape. We have not seen an inflow of money like this since the 1980’s. As we have mentioned many times before, our greatest concern for losing this huge wave of new money-lack of coins.
THE SIMPSON COLLECTION
The Simpson coins brought numbers we couldn’t even imagine. Its not a good time to collect Standing Quarters! Better time to sell them (do NOT expect those prices or even close).
25C 1917-D PCGS MS66 FH CAC $40,800.00
25C 1920-D PCGS MS68+ FH CAC $372,000.00 (we underbid it)
25C 1928 PCGS MS67+ FH CAC $120,000.00
Other crazy numbers from Simpson:
50C 1942 PCGS PR68 CAC $60,000.00
$1 1794 PCGS MS66+ CAC $6,600,000.00
$5 1911-D PCGS MS65 CAC $336,000.00
The SImpson Patterns had many world record prices too! We paid $132,000.00 (all in) for J-1677 1877 50C PCGS PR67 DCameo CAC. The biggie was J-1635 $4 Flowing Hair PCGS PR67 DC which brought an amazing $576,000.00!!!! CRAZY!!!
This was the last of Mr Simpsons “extra” holdings. If people knew what he has left they ‘d say no way. Until these sales, others can claim what they want, the Simpson Collection was the largest private US coin collection. Our estimates he has well into EIGHT FIGURES left still including the Gold Amazonian set! He still has his $20 Saints #1 on the PCGS Registry, his $10 Indians, also #1. Then he has a complete 1886-1907 Gold proof set. WOW. The list goes on and on.
Legend Numismatics is proud to be his exclusive dealer in building this collection of unparalled quality. His Patterns will never be duplicated. Think about this-he kept the best ones! This is what we do at Legend, we build the finest QUALITY collections on earth. The record prices realized for the SImpson Collection more then proves that.
BACK TO REALITY
Where are all the coins? Outside of auctions the pickings are slim again. We came home with the least amount of NEWPS EVER from ANA. We are wondering how we’ll make money in September and beyond to the FUN Show. We will NOT sacrifice quality to make sales.
How do you buy during this time? AVOID buying commoner coins via auction. If you are a true quality buyer, know virtually ALL printed prices are outdated. If you are a gold buyer, its a matter of how bad you need a coin. We do NOT recommend on specking on commoner gold right now (we recommend selling into the party). Use a dealer for help. A dealer who attends all the shows and auctions like we do is your best asset.
It remains to be seen if this situation will improve. After this weeks auctions, we say probably not! The black hole some how just got even deeper…..
NEWPS
We have a small group of NEWPS this week. Highlights include:
1C 1914-D PCGS MS65+ RD CAC
25C 1854 ARROWS PCGS MS67 CAC POGUE
50C 1899 PCGS PR67 DCAMEO CAC
1C-$1 1895 PCGS PR65-PR67+ CAC MATCHED ORIGINAL PROOF SET
Sorry, we could not find much in gold or coins below $5,000.00. Every day we are working hard on buying!
LEGEND IS BUYING! WHAT DO YOU HAVE FOR SALE?
LEGEND RARE COIN AUCTIONS
www.legendauctions.com
Regency 47 is right around the corner. With auctions being the “it” places to buy, make sure you are prepared. Our estimates are for high WHOLESALE. When in competition vs other collectors, prices will be substantially stronger. Plus, with it being a smaller sale, we highly doubt many coins will “slip through the cracks”. So be prepared!
We can tell you eye balls to date for Regency 47 are at record levels. Once the big boys auctions are over, we expect activity to dramatically increase.
Have questions about the auction? Need special terms? Need to set up phone bidding? Call or email LRCA today!
Nearing final call for Auction 48 to be held in October. We would like to round out our offering with all the gold you can sell! Call or email the best team in the auction business. 732-935-1168.
IF YOU HAVE ANY QUESTIONS OR WISH TO ORDER, EMAIL US: legend@legendcoin.com. WE DO NTO CHECK OUR PHONE MESSAGES UNTIL MONDAY AT 9 AM
