BEWARE-ITS ONLY ABOUT GOLD
While you read all over how “hot” the market is, beware that it’s really just gold that is a grossly overheated segment. Are other areas strong, yes, there are only a few silver areas, NOT ALL. Most nickel Type is going nowhere. We have shifted into mostly gold, and our sales have only taken off. Since the CSNS Show, we’ve sold over $750,000.00 worth of better gold vs $200,000.00 of other coins. Included in what we sold (but not the most expensive) were coins like a MONSTER $2.5 1855-C PCGS MS62 CAC, $5 1834 Crosslet 4 PCGS MS62+ CAC -the FINEST , and a group of 3 finest known No Motto $5’s all PCGS MS64+ CAC. NONE of these coins ever made our web site and ALL went to collectors. Don’t get us wrong, many dealers are starved for better gold. If you had asked us in mid April (before tax time) how we would do at CSNS and the week after, we’d have bet you our sales would be next to nothing. Mid April things were so quiet we got spooked (like we do every year at tax time). Starting this past Monday, our world was rocked all about gold and few CC Morgans. If it was gold, it sold. The ferocity of the better gold market scares us. This is why we are preaching -especially on generics, take some profits now! We do not see this intensity ending any time soon. As we said last week, the strength of the markets legs fooled us.
Note: Buying from us off our web site you are getting great coins for a fraction of what they cost in auctions. Remember auctions are competitions. In strong market like this you WILL pay the price to buy a great coin anyway, but via private sale the coin should be cheaper! .
THE SIMPSON COLLECTION
Yet another segment of his amazing collection was sold today. On his silver coins it was hit or miss yet the finest PCGS CAC coins (all metals) did really well, but as were discussing above, his gold crushed it. Surprisingly, his patterns were hit or miss but somewhat strong overall. Our all time favorite coin, the gold Pan Pac brought $625,000.00 hammer ($750,000.00). He paid $410G. We are happy to say there is a copper, silver, gold 50C Pan Pac set we placed still in place hidden out there.
Simpsons collection more then proves you can make money in coins. Regardless of what is said by others, Legend built his remarkable collection-exclusively. Yes, we paid what at the time was crazy strong prices, but we always bought the BEST eye appeal and quality. Most of his coins were bought 5-15 years ago. A great highlight is the $20 1863 PCGS PR65 +DCameo CAC. He paid $395,000.00. It sold for $850,000.00 hammer ($1,020,000.00 all in)! The $20 1901 PCGS PR66+ Cameo CAC sold for a killer $240,000.00 hammer. Simpson paid a whopping $100,000.00. There are too many stories like these we can tell especially about gold.
The scary part about Simpsons sales the public has no idea what he has kept. He has single coins like 2 PCGS MS68 Bust halves, some killer Bust Gold, incredible finest known patterns, a box of MS 67 DMPL’s, his 5 PR69 Morgans, $10 Indian and $20 MS Saint sets (both #1 on the PCGS Registry) and much more. he is keeping all those!
Legend Numismatics is proud of the job we did for Simpson. While we can’t replicate what we did for him, we can build you one of the most special collections ever. Contact us-we know what we are doing!
THE SAINT MARKET-THE CSNS AUCTION
Talk about sheer beyond the solar system insanity! We sat through a session we could not believe. Legend was representing a customer who needed the $20 1907 PCGS MS67 CAC. A coin we figured we’d pay stupid and stretch to $150G hammer on. We stretched to $180G hammer and sat and watched as the bidding blew by us to $230G hammer ($276,000.00). Who were these people bidding? We believe the winning bidder is a crypto guy-which means his money costs him almost nothing. After that shock, we said okay, lets rock for the $20 1909 PCGS MS66 CAC that another customer wanted. We were going in prepared for this one. $220G hammer was our max. Who the hell ran it to $260G hammer ($312,000.00)? This was beyond insanity! So we got frustrated and threw a $60,000.00 bid in on the $20 1925 PCGS MS67 CAC. Our Hedgie has the only other MS67 of that date that has a CAC bean. He paid $18,000.00 thousand for his. It blew buy us to $110G hammer ($132,000.00). Who are these people bidding? Needless to say Hedgie was elated.
Unless you have really deep pockets we do not advise you to start a Saint set. Even though the highest buyer may be satisfied now, there seemed too much action all the way to the top. We are very uncomfortable with the Saint market today. We strongly advise if you are a casual Saint buyer to sell NOW to take advantage of the ultra strong market. Does not matter what kind of Saints you have -generics or $20 1912 in PCGS MS65 CAC. This has to be one the most over charged markets we have EVER seen. Keep in mid, if you do sell, you will NOT get crazy auction prices. One thing to note: there was a near complete set brought out the multiple buyers. You will be able to get really strong prices though. Call or email us to discuss.
NEWPS
Finally, we have some super fresh NEWPS. We have some great killer coins. Look at this highlight list:
50C 1904 PCGS PR67 CAMEO CAC
$1 1868 PCGS PR65 Cameo CAC
G $1 1852-C PCGS MS64 CAC
We assure you, EVERY coin we post is of the HIGHEST QUALITY and has the best eye appeal possible. We’re thrilled to again have access to some neat coins. We’re also thrill that this offering contains at least 12 coins priced UNDER $10,000.00 each. We’re still not where we want to be with cheaper coins, but they are definitely starting to come around.
Sure, we are jaded, but we really like our NEWPS this week. We’ll have another great round next week too!
After the CSNS sale, we hope collectors realize what great deals the coins we offer really are. They are the ultimate in quality and eye appeal. Something will make you money down the road.
LEGEND RARE COIN AUCTIONS
OUR REGENCY SALE 52 IS NOW LIVE. Bidding blew past $1,000,000.00 in the first 24 hours! This sale closes May 26th at the PCGS Invitational Show in New Orleans. Highlights include selections from the Dale Friend Collection and Glorious Pattern Collection.
We are seeking consignments for our Regency 53 to be held in Las Vegas July 28th at the PCGS Invitational. Call or email the best auction staff in the biz today! Time is running out.
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
