A LONG MARCH IS COMING
No shows, no auctions until the very end of the month. In the new world of the coin market, for dealers like us, that pretty much means no quantity of new coins. Surviving on breadcrumbs of generics isn’t really cutting it-although we are doing a lot of business. Generics are not the coins on Want Lists.
We have many sets we are building for people, but we are badly stalled out. We’ve put the word out we’ll buy anything hoping we’ll get offered something. We will even buy entire collections. So far, its generics galore. UGH. The really good coins are in really strong hands. Although we do know of a $3 million dollar gold collection and a $20+ million-dollar Type collection that are heading to auction this summer. We already predict record prices and tons of bidding. That does not bode well for Legend. The days of thinking we bought something cheap at auction (fell through the cracks) is over. We’re basically competing against the end user.
Our outlets to buy coins are as dry as we have ever seen, and we are trying hard. Unless we get lucky, it will be a long cold March for us. We decided it was not worth the effort to attend the ANA Mid-Winter show. If we couldn’t buy at Long Beach (where we used to spend $1 million), we sure won’t see anything in Colorado Springs. It’s not a bad attitude, its reality. We will however be at Baltimore early looking to buy. So check back often-we are working overtime to buy!
The market is strong in most (but not all) areas. There are just NO coins. We do predict, somehow the market will get even stronger especially in gold (which is still red hot) and most (but not all) other areas. We’re still waiting for Type to start a move. What we can’t figure out is why with virtually no new coins coming on the market, coins we have like 3CS 1867 PCGS MS65 CAC, 5C 1898 PCGS MS67 CAC, 10C 1874-CC W/A PCGS AU50 CAC, 50C 1865 PR66 CAC, $1 1898 PCGS PR66+ DCameo CAC, and a G $1 1865 PCGS MS68+ CAC that languish. They are NOT overpriced. You can’t duplicate them. Buying these coins from us are better deals then chasing them in auctions. Funny market. We can’t operate from an empty wagon, so we need to have something to offer and these coins are what we found. Hopefully activity will pick up for us and there will somehow be more trading going on in March.
If we were working on the Bob Simpson or Bruce Morelan Collections today, they would never happen. Could not be reassembled at any price. And forget about Half Dome (all gold 20th Century ALL CAC). We’re having trouble building sets that we consider common. We see the biggest problem as higher prices are not being reflected anywhere unless a coin sells via auction. People do not realize where the market really is. So, they are sitting tight on their coins.
HAVE A GREAT WEEKEND EVERYONE! WE’LL BE TRYING TO BUY COINS AND SO SOME BUSINESS!
LEGEND IS STILL BUYING
Last week we bought one small deal. We need much more to stay in business! SELL US YOUR COINS!!!!
It is our strong opinion, people should be selling dupes or taking profits if they are in lower grade generics. GEM Gold is still a buy-if you can find any. BUT we do NOT recommend things like PCGS MS66+ CAC Saints at $8,000.00. We saw that in an internet only sale recently. That was absolutely a one off.
Our BUY prices are now expanded and, on some items, increased!
$2.5 INDIANS PCGS MS64 CAC $900.00
$2.5 INDIANS PCGS MS65 CAC $2,950.00
$3 INDIAN PCGS MS64 CAC $5,900.00
$3 INDIAN PCGS MS65 CAC $12,250.00
$5 INDIAN PCGS MS65 CAC $14,000.00
$10 LIBS W/M PCGS MS64 CAC $1,800.00
$10 LIBS W/M PCGS MS65 CAC $4,000.00
$10 INDIANS W/M PCGS MS64 CAC $1,900.00
$10 INDIANS W/M PCGS MS65 CAC $5,250.00
$20 LIBS W/M PCGS MS63 CAC $2,050.00
$20 LIBS W/M PCGS MS64 CAC $2,675.00
$20 LIBS W/M PCGS MS65 CAC $5,000.00
$20 1907 HR PCGS MS64 CAC $31,000.00
$20 1907 HR PCGS MS65 CAC $57,500.00
$20 1907 HR PCGS MS66 CAC $105,000.00
$20 SAINTS W/M PCGS MS64 CAC $2,000.00
$20 SAINTS W/M PCGS 65 CAC $2,875.00
$20 SAINTS W/M PCGS MS66 CAC $4,500.00
$20 SAINTS W/M PCGS MS66+ CAC $5,500.00
ALL PRICES ARE SUBJECT TO CHANGE AND CONFIRMATION
Legend is also buying WHITE (ONLY) CC PCGS MS67 CAC MORGANS
Looking for WHITE (ONLY) PCGS CAC MS66 or better rare date Peace Dollars (NO COMMONS UNLESS MS67)
Need PCGS CAC TYII Standing Quarters in MS66 FH or higher PCGS CAC ONLY
FYI: since Jan 1 we have purchased at least 40 PCGS MS65 TYIII $20’s in MS65 NO CAC. we do buy NON-CAC generics!
WE CAN USE MANY BETTER COINS TOO
Please remember, we are NOT Legend Auctions. If you bought a coin from them, we do not make any promises to buy that coin. We will make what we think is a fair market offer. The vast majority of coins sold via LRCA are from consignors.
All our offers are current market. We don’t look to get rich-but all offers are within our comfort zone-unless we have a need for a specific coin. Right now, as much as we LOVE better Type, we are weaker buyers unless as coin is special. We assure you; Legend pays top dollar plus!
Call or email us with what you have for sale.
NEWPS
We have a few interesting coins. The highlights include:
10C 1942/1-D PCGS MS66+ FB CAC
20C 1875-S PCGS MS66+ CAC
$3 1883 PCGS MS64 CAC ONLY 900 MINTED
$10 1907 NM PCGS MS66+ CAC
Of course, we have many other great coins posted that are all PCGS CAC. Quality and eye appeal are everything to us!
LEGEND RARE COIN AUCTIONS
www.legend auctions.com
Response to our Regency 51 sale that includes the Dale Friend Collection has been incredible! We expect prices to be very strong with lots of bidding to take place. Consignments are coming in strong right now. We are on the final call for auction 51. Auction 52 is the following month in New Orleans at the PCGS Invitational show. For that sale, we have the Oak Collection of MS $3 which is posted on the auction web site.
LRCA will have a table at the ANA Mid-Winter show. Stop by and see us!
MARCH 11TH IS THE ABSOLUTE DEADLINE FOR CONSIGNMENTS FOR AUCTION 51.
The BEST team in numismatics will craft the ultimate deal for you! We’re BETTER than the big boys and we deliver! Try us!
IF YOU HAVE ANY QUESTIONS OR WISH TO ORDER, PLEASE EMAIL US: legend@legendcoin.com. WE DO NOT CHECK OUR PHONE MESSAGES UNTIL 9 AM MONDAY.
