FORGET ABOUT THE NFT’S
People are spending like crazy. We spoke to two major builders of expensive luxury homes. One in Naples FL and one in Rumson NJ. BOTH said demand is at record levels. Reconstruction is as well too. Just saw an article about boats having such demand the factories can not keep up. Crazy bitcoin just keeps rising. As everyone knows NFT’s have shot up in value. The stock market has not been shabby either. All over the place, the money in the upper atmosphere is flowing like a raging river with no signs of stopping. That money has to go somewhere. The rare coin market is enjoying a small peck of it-not nearly what we should have however. Regardless, that hint of money has made prices in the most sought after areas rise 10-15% this year. In some cases (not all) with gold 15-20%.
We’ve complained for a year or two about lack of supply. Even with prices rising there is an even greater lack of coins to be traded. Collectors are still licking some wounds from last year waiting for the prices to grow even higher before even thinking of selling (a huge mistake, you never know where the top is-always take some chips off the table when things are strong). The demand is as strong as we have ever seen it with NEW money coming into coin collecting.
The biggest problem today: the prices guides are no where near accurate. It seems if a coin does not sell via auction these price guides do not move the needle or report any new prices. If you notice these for profit entities have no advisory boards while some only collect their pricing information from wholesale dealer bids or expecting dealers to volunteer numbers. We fret that too many people maybe missing out on coins because they are not aware. That is why auctions still are some of the best gauges for pricing (we are NOT talking Ebay for better coins). You really need to work with a dealer who is in the market daily and knows current prices/values. They should also be able to tell you about the coin in a recent auction. You don’t want to miss a really tough date by 15-20% when you were too low all along. Always buy today like you are buying for tomorrow!
An interesting thought: we talk a lot about one and done. The Simpson Collection has realized over $52,000,000.00 since its first sale in September. In the art and NFT even the world that is one painting. In coins, its a lot. Pretty much ALL the coins sold were one and done, never to appear on the market again. If we had to guess, of the 52,000,000.00, LESS then $500,000.00.00 (just less then 1%) is available for resale. You may see a coin or two (save for us pattern weenies), no one has any significant offerings. That fact shows the power of the market. It also show the power of true quality.
NEWPS
It was another challenging week to gather up a fresh bunch of NEWPS. While we do have several coins that are fresh, there are one or two old friends.
We are pleased to re-offer an example of the famous 1C 1943 COPPER PCGS MS61RB CAC. It is at a much lower price then previously offered. This coin being RB does rank among the finer pieces known. The Simpson PCGS MS62 Brown-the highest graded recently sold for $372,000.00. We think it represents excellent value. An FYI: Legend is the exclusive rep for the owner of the 61RB.
Of course we did our best to have an offering fit for everyone. As we mentioned before, it was tough to find coins a year ago, today it is flat out impossible. We keep trying!
VERY IMPORTANT: WE DO NOT EXPECT TO HAVE NEWPS POSTED UNTIL LATE SATURDAY OR EVEN SUNDAY AFTERNOON OF NEXT WEEK. STAY TUNED!
LEGEND RARE COIN AUCTIONS
www.legendauctions.com
Here we go! A watch list for our Regency 44 April sale is now posted. This sale has a ton of interesting and really cool coins. The three anchor collections are the Boyston Seated Halves, the Gerald Forsythe $1 Registry set of Proof $10 Indians and his #1 MS Walker set (complete). There are two finest known 1804 Dimes! The list goes on and on.
Keep in mind, you could be reading unedited descriptions and estimates (Its tough to get it all done on deadline time). At least you will get better idea of what is in our upcoming same.
We are now seeking coins for our 45th Regency sale to be held May 27th in LAs Vegas. Call or email to discuss. Our team will build build you the best deal to maximize your coins value.
ALL COINS FROM AUCTION 44 WILL BE IN LAS VEGAS AT NEXT WEEKS PCGS INVITATIONAL
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
