HERE WE GO AGAIN-THE SIMPSON SALE
The FUN auction of the Simpson Collection proved that the hunger for the very best quality coins not only has NOT subsided in any way but has grown by apparent leaps and bounds. For most of the night, we sat there with our hands under our butts while trying to execute what we thought would be record bids. By the time we were ready to press the button, the price of a coin was already at a super world record level. Ouch!
People always ask us-can you make money in coins? HECK YES-if you do it right like Simpson did. Darn right we’re going to take a victory lap here. We exclusively built his collection. He did not just walk up and bid in auctions or find coins at a show. We are thrilled at the numbers he got (he has now sold $105 million-and he still have a substantial collection). In fact, most prices realized were beyond anything we can comprehend. Simpson’s vision of wanting the not just the best but the BEST EYE APPEAL more than paid off-plus again, this sale proved we are darn good at our jobs and more then came through for him (we can’t promise you moon money returns like Simpson, but we WILL supply you the best coins creating the best opportunities)!
Part of the problem with sky high prices on bigger coins is clearly a disruption by the crypto gang of collectors and their pals. Their money is so cheap they can afford to just buy the coin without regards for the price. The Simpson Sale was a prime example. We can only hope they have a serious long-term holding plan. BUT there were more collectors than just them buying. There clearly is a super powerful new breed of collector. They want their coins!
What does all this mean for the smaller collector? It affects them too. They are seeing serious price increases when a nice coin does surface. Right now, it’s harder to buy a better $3,000.00 coin then a classic rarity. The way last year started, and kept growing, we are of the opinion 2022 will have the same results through at least April. This train is NOT slowing at all. You go to any show and all you see is stuff and dreck. You have to PAY MORE to buy nice coins today.
Highlights from the Simpson sale (juice added):
3CS 1857 PCGS MS67+ CAC We considered this the most colorful TYII: $57,600.00-A Legend purchase for a new Type set!
3CS 1865 PCGS PR67 CAMEO CAC Not bad for a $7,000.00 purchase: $26,400.00
10C 1853 W/A PCGS MS68+ CAC. Used to be an NGC 69, Sold: $102,000.00
$1 1862 PCGS PR66 CAC Simpson paid $20,000.00: $38,400.00
$1 1899 PCGS PR68+ CAMEO CAC A heart breaker. This was from a MONSTER original PR set we found. The entire set cost $80,000.00! Sold: $144,000.00
$2.5 1796 PCGS MS62+ CAC. We paid $1,050,000.00 originally. Sold: $2,160,000.00 Legend was the underbidder.
$2.5 1863 PCGS PR66 DCAMEO CAC. Paid $297,500.00 in 2014. Sold: $432,000.00
$5 1795 PCGS MS64+ CAC Always loved this coin. He paid $350,000.00 in 2010. Sold: $552,000.00
$10 1795 9 LEAVES PCGS MS63+ CAC. This coin brought total insanity. Paid $1,057,000.00 in 2015. Sold: $3,360,000.00
$10 1801 PCGS MS64+ CAC We paid $112,000.00 in 2008. Sold: $432,000.00 -that isn’t beyond Pluto-that is crack money!!!!
$10 1897 PCGS PR66 DCAMEO CAC. We paid $65,000.00 in 2014 . Sold: $204,000.00
$20 1861 PCGS PR66DCAMEO. We paid $475,000.00. Sold: $1,800,000.00.
$20 1907 PCGS PR66 DCAMEO CAC, OMG! This was worth $100,000.00 when we bought it. Sold: $480,000.00
There were too many other coins that sold for “beyond the solar system” money (forget about beyond Pluto)! NOTHING slipped through the cracks. We did our best to do some value buying assuming the market is going to keep rolling. But what do you pay for pop 1-3 coins that have not been available for a long time? Go to the next several major shows (through ANA) and you won’t be seeing any cool coins like what was offered in Simpson.
It’s not just these bigger coins in a name sale selling for huge money. We tried to buy a $1 1882 PCGS MS65 DMPL CAC. No luck. It brought $8,100.00. A $20 1916-S PCGS MS65 CAC brought $5,760.00. Too many coins brought too much in the entire FUN sale! We could not believe how strong coins $10,000.00 and below were. The days of bargain buying out of most auctions are over for now.
Most NICE and better coins ARE worth more today. Talk to us about what you wish to collect or your holdings. As you know we strongly are urging people to take profits on more generic types of coins. What we did for Mr Simpson, we can certainly do for you!
In total Legend bid on OVER $6,000,000.00 hammer worth of coins. Our bids were seriously strong. We won just UNDER $1,000,000.00 hammer!!! This was our worst FUN sale EVER. Coins were just out of our reach. We will not buy into frenzied prices. We know that prices on the bourse floor will continue to be less for the commoner items.
Don’t worry, our NEWPS are priced at normal levels! We are thrilled this week we have a bit of a diverse offering of much better coins. In fact, we have $781,600.00 worth of NEWPS-a sum we have not have in a very long time. Based upon the recent FUN auction, buying from a dealer might not be so bad (better pricing). Highlights include:
25C 1806 PCGS MS64+ CAC
$1 1797 10X6 PCGS MS64 CAC COL GREEN/NEWMAN
$1 1868 PCGS MS66+ CAC
$20 1908-S PCGS MS65+ CAC HALF DOME
J-1604 $1 1879 PCGS PR65BN CAC
Our NEWPS are hot! You do not see great PCGS CAC coins like these posted elsewhere. If you want a Bob Simpson like return-work with us. We really do have the BEST coins!
We invite you to see all our great PCGS CAC coins in inventory. We promise, most of our coins cannot be replicated anywhere at any time!
LEGEND IS BUYING! WHAT DO YOU HAVE FOR SALE?
LEGEND RARE COIN AUCTIONS
WOW! The auction world is on fire!!!!! Now it’s our turn with a remarkable Regency 50 sale. We’ll tell you up front, based up consultations, already record eyeballs, and lot viewing, the better coins in the sale-will NOT be cheap. We expect MULTIPLE records to be set. That does not mean the coin you want will be crazy but be prepared in case it is. We are proud this is a “no dreck” sale!
Legend Auctions got mentioned in Barrons! https://www.barrons.com/articles/a-1907-10-gold-coin-could-sell-for-more-than-500-000-01642113264
Call us now for terms or to set phone bidding. January 27th will be here sooner than you think! NOTE: if you are planning on bidding on any coin over $100,000.00, please pre qualify. We can not accept your bid during the sale otherwise.
IF YOU HAVE ANY QUESTIONS OR WISH TO ORDER, PLEASE EMAIL US: firstname.lastname@example.org. WE DO NOT CHECK OUR PHONE MESSAGES UNTIL 9 AM MONDAY.