A NEW HOT TOPICS IS NOW POSTED TOO
OMG-LOOK WHAT WE HAVE
This week we are devoting our Market Report to only two items. First is as promised-our MONSTER OFFERING OF GEM BUST COINS. Second: world get ready for MERC MADNESS!
OUR OFFERING
Our offering Is composed of a major collection of Early MS Bust DImes-clearly the FINEST EVER assembled. Most important, the majority of the coins are PCGS CAC. In tribute to the collector, He went all out. ONLY the FINEST would do. While he was a fixture quietly sitting in the back at Pogue he worked with dealer Rich Urich for many years. This collector was private and did not bang a gong every time he bought a coin. He was on a mission and wanted to stay focused. And did he ever stay focused. The majority of his coins are UNDISPUTED FINEST KNOWNS. As we cataloged many of the coins our hands shook while holding these precious rarities. For sure working with this collector and his remarkable collections (we have bought and sold may coins with him over the years), selling this group ranks as a true highlight even for us!
There is another small group of Bust coins from a long time collector included as well. Plus, we had other coins to offer like the 1C 1794 PCGS MS67 BN CAC (OMG), 1C 1811 PCGS MS65 RD CAC and the $10 1795 PCGS MS65 13 Leaves CAC now offically on the market. The listings this week total over $5,000,000.00! When all these coins are sold, you will never see any even remotely close. These coins are NOT about the plastic. They are ALL the real deals!
The only offering better this year (and for every year to come)-the Oliver Jung Type coins he (Oliver) elected to sell. ALL of those coins are off the market and are in extremely strong hands-our partner Bruce followed by a distant Tyrrant bought the biggest chunks. In fact, close to $20,000,000.00 (and estimate) sold within just a few weeks of ANA-no ads, no lugging to shows, nothing. Just a few calls and emails. None of the coins were cheap either!
MARKET TIMING
Yes, things have slowed again. THAT IS WHEN YOU BUY. We were with one of biggest dealers on the planet this week. We saw him buy six figures worth of better gold in one sitting paying above average prices. We asked why? His response: “if I do not buy these now at these prices, I’ll never be able to buy any as things get stronger”. We can’t say he was wrong. We also had a conversation with a customer of ours who is CEO or a major NYC bank. He explained to us the Dow is now at an all time high. As proven by the jobs report, companies are hiring, and people have money. He saw no reason why money is not or will not come into coins. He did NOT see any recession as imminent.
We suspect the Bust Dime collection is being sold for health reasons. The Bust Dime Collection owner specifically does not believe in selling through auction. So to all the collectors who need to only buy out of auction-you’ll probably get much better deals buying this way and we assure you, we’ve priced everything at what we believe is fair to the current market. There is no price competition.
Smart collectors working to build sets, buy through all market conditions and average themselves out. It works. Even if you think you are paying a bit too much in a weaker market, your really not. You do not buy for today, you buy for tomorrow. A great coin will pop out of a sluggish market with stronger pricing typically. Flowing with the herd can work, but is not always the smartest if you are working on a collection. Today is a tremendous buying opportunity!
When will you ever see a PERFECT 1C 1794 or a MONSTER 10C 1797? Never again most likely once these are sold. So do not think too hard. Feel free to call and discuss any coin with us. If it is not right for you, we WILL tell you. We can also work terms to fit your budget.
KABOOM! MERC MADNESS HAS STARTED!
We wish to congratulate the Merc Madness Collector on his achievement of eclipsing the long time #1 sets of Gerald Forsythe. Merc Madness now has the absolute #1 Mercury Dime PCGS sets in ALL Full band catageories and he is so proud he did not have to spend $348,000.00 on a coin to do so!
This accomplishment was made possible by our assisting Merc Madness at the ANA Show in buying Gerald Forsythes #1 set. What Jerry had, Merc Madness did not and it was a perfect fit. The sale was for several million dollars. Now Merc Madness has the #1 ALL TIME SETS and he will also be #2 shortly as well too with his duplicates-too be listed under the name Jupiter Collection.
Merc Madness is a life long collector. Mercs have always been exclusively it for him. We have not been able to confirm the rumor he was born with a Merc in his mouth (vs a silver spoon)! He is a businessman who has finally been able to spend on the joys of his life. He certainly is not a billionaire and every coin he buys he really looks over hard. Mercs certainly rank at the top for him and in a short time he has done what many others could not.
Merc Madness is one of the top collectors we have ever met. His intensity only rivals our partner Bruce Morelan and RDS (our great friend and customer who has the #1 all time MS Barber Quarter set). He can answer ANY question about where ANY GEM Rare Merc is. He knows the mintage’s, the pops, whats out there and what is not. Its actually embarrasing to us that we do not know half as much as he does.
Last, Merc Madness is not done. He wants BOTH his #1 and #2 ranked sets to be 100% the best. he also ONLY accepts PCGS CAC (save for a coin or two). He gets it, he really does. You won’t be reading much more about him, he is also a private collector. He does actually look at his coins on weekends and has no ego what so ever. We’re rolling this news out as a tribute to him-he did not seek it. We look forward to working with him for many more years to come!
NEWPS
As you can see this week is devoted to one of the greatest Bust offerings in ages (save for the Jung Type set). We can not say enough about these WORLD CLASS coins.
As of this writing we still have 4 more coins to post:
10C 1796 NGC MS66PL
10C 1798 LG 8 PCGS MS64 CAC
10C 1798 SMALL 8 PCGS MS65
We do have an NGC MS63 1804, but we are in the process of crossing it. We have a flaw in our system that only allows us to post 20 NEWPS clip. We will confirm when all NEWPS are posted.
Do not hesitate to contact us to discuss these Monster coins or any coins in our regular inventory.
We will be attending the Baltimore show, we may or may not bring the Bust coins due to value. If there is a specific coin you wish to see, please contact us.
Sign up for our emails. This week we will try and do a few extra coins in our COINS OF THE WEEK due to the Bust offering!
LEGEND RARE COIN AUCTIONS
www.legendauctions.com
We are now working 48 hour days posting, editing, creating the catalogs, etc for our HUGE Dec Auction. It is a massive 613 lots which we apologize for. The sad part, we probably turned away 100 lots too. We do not like or want large sessions. Next year we are planning on having TWO two day sales to ease the burden.
You can see the auction shaping up on line now. We are hoping to go live in a week. The sale is December 12th.
Also, if you are thinking of consigning with us and are worried we will reject your coins-its the really bad NON CAC coins we typically ban. BUT if they are part of a collection or have to be included we work around them. We’re far more favorable to collectors then dealers.
Let us know what you have. A full collection is no problem at all. We assure you, with internet auctions, the best you sell to are dealers like us-which is WHOLESALE. In our auctions, we are 95% sales to collectors. We will work hard to bring a highly successful auction. Just speak to one of our reps.
IF YOU HAVE ANY QUESTIONS OR WISH TO ORDER, PLEASE EMAIL US: legend@legendcoin.com. WE DO NOT CHECK OUT PHONE MESSAGES UNTIL 9 AM MONDAY.
