There is life in the coin market.

The dealers who handle bullion and generics are experiencing off the chart record sales. The premiums have finally started to expand. We’ve been told the importers can not get gold into the US and are cleaned out. Silver has been wiped off the map supply wise for a week now.

The shift to hard assets may have finally begun.

This past week we did some internet sales, nothing special. The big news is Stacks sale and how strong it was overall (see below). We hope our NEWPS will excite a few buyers. So stay tuned!


Legend Numismatics would like to thank Greg Roberts, Brian Kendrella and Bobby Avena of Stacks for the unpresidented treatment afforded us at the sale.

It was a difficult decision about going to LA. Many people suggested we stay home. In the end, we felt it was safe and our customers would be best served by us being there. Stacks certainly did all protocals to protect people. The trip did work out, however we are badly exhausted and burnt out. Hey Heritage, your CSNS sale is coming up. Send the jet please and we’ll show up!

It is obvious hell has not completely frozen over. We were stunned as to how strong prices were in the first and second sessions. Check these out that we bid on and lost:

                                                   FINAL PRICE            OUR BID

1C 1898 PCGS MS66RD CAC  $2,040.00     $1,800.00

5C  1873 OPEN 3 PCGS MS66+ CAC  $7,800.00    $4,800.00

25C  1894 PCGS PR66+ CAMEO CAC  $3,480.00   $2,640.00

50C 1919 PCGS MS64 CAC  $4,320.00            $3,840.00

$1 1883 PCGS MS67+ CAC  $6,600.00   $3,600.00

$5  1835 PCGS MS61 CAC  $6,600.00     $6,000.00

$5  1899 PCGS MS66+ CAC  $5,520.00   $5,250.00

Collectors every much do still exist. They want nice coins and will still pay up for them. The prices realized blew our minds. We knew the participation in the sales would be super strong as while we were lot viewing Stacks people kept coming in and taking coins to describe over the phone. We woefully underestimated how strong the public participation would be. if you just landed on earth, you’d think there was no problems in the world and all was strong by what the early auction sessions brought. Pretty mind blowing to us.

Then there was Pogue. The sale that we fretted over if we’d be driving or flying private home in the end. For us it was a pressure cooker.

First we would like to say that in our opinion, Brent Pogue was one of the greatest collectors ever to own any coins. He had such a deep love for the hobby. We still remember him coming to shows with his little groups of coins to show off. The coin collection he himself had assembled was beyond amazing, We did our best to get his coins placed in the best homes possible.

We were even more shocked at how strong the prices were. There was only one area of weakness-one we did not expect and kind of caused problems for us. The expensive rare gold did not bring strong prices. We messed up on the $10 1907 Rolled Edge PCGS MS67 CAC. It sold for only $576,000.00. We could not find our customer (he fell asleep) and we froze in panic and were the under bidders. We estimated the coin for $650-$750G. We did at least buy the $10 1908-D Motto for $204,000.00. Whew, got one right! We figured this coin for $250-$300G. We have no idea why the big gold fizzled like it did.

Still, the over participation and prices from the Pogue Collection were super strong for where we all assumed the market would be.

Here are some Pogue prices:

3CS 1861 PCGS MS67 CAC   $18,000.00

5C  1911 PCGS MS67 CAC   $9,000.00

10C 1833 PCGS PR66  $108,000.00

10C 1916-D PCGS MS67FB CAC  $204,000.00

25C 1892 PCGS MS67 CAC  $10,800.00

25C 1894-O PCGS MS66+ CAC  $12,000.00

25C 1920 PCGS MS66+ FH CAC  $9,600.00

25C 1920-S PCGS MS67 CAC  $40,800.00

25C 1928-S PCGS MS67 FH CAC $21,600.00

50c 1878-S PCGS MS66 CAC $288,000.00

50C 1890 PCGS MS68+  $120,000.00

50C 1916-D PCGS MS67 CAC $52,800.00

$1 1921 PEACE PCGS MS66+ CAC   $28,800.00

G $1 1854 TYII PCGS MS66+ CAC  $87,000.00

$2.5 1841 PCGS PR64 CAMEO CAC $408,000.00

$5 1845-D PCGS MS65 CAC  $96,000.00

$10 1852 PCGS MS66+ CAC  $288,000.00

$20 1869 PCGS MS66  $204,000.00

25C 1882 J-1698 PCGS PR65+ CAC  $78,000.00

These are amazing coins and they brought for this market especially-amazing prices. On many coins (like the $10 1852 PCGS MS66+) we were the direct under bidders. We did manage to spend close to $2 million dollars in all the sessions combined. We probably should have bought more but we had a tough go at the sales (hard to explain).


We do NOT see a general upswing in the coin market as this is being written. However, collectors have more then proven (yet again) that when a great fresh deal comes along, they pop up. We think Stacks got their sales done “just in time”. With no major shows on the horizon and some tummies full, we expect things to be quiet again. Certain areas of the wholesale dealer market will be out of cash (mostly better rare coins). We could be wrong though about a market slow down. Keep in mind, generics and  “stuff” are highly sought after. Some dealers are actually seeing improvements in their liquidity as others are slowly dying on the vine. But coins can be traded from the comfort and safety of ones home and we know there is still life even away from the auctions.

Its all a matter of how much money really comes into hard assets at this time. The Stacks auction may have had perfect timing. Plus, many collectors very well have put money aside for it. We do know dealers are seeing an huge uptick in more generic types of sales.

Legend Rare Coin Auctions is up this Thursday with a wonderful FRESH sale. Our per unit costs will be far less then Pogue. We think activity will be strong based upon early registrants and actual bids left already. Now that the country is stuck inside, it seems a coin auction (especially a good one like LRCA has) is the way the coin business will operate and collectors will happily participate.

We will say that overall, the coin market dropped 10-15%. Certain areas are deader then dead, yet certain areas are red hot (not just gold). As the economy slows, unless money is really  moving into hard assets, coin prices will come down fast. All we can do is wait and see what happens. Its not wrong to say coins are on sale. We misjudged Pogue (it was far stronger then we thought it would be). Legend Numismatics has guarded optimism for the market right now.

In the past week we have seen (or heard of)  only minor dumping of coins. There does not seem to be any panic. As we said last week, coins are a comfort for many people. Many people now have a lot of time on their hands.

Do not be afraid to buy rare coins!


We have a few pieces we are posting.

This week we will be re pricing most of our inventory to levels we assume are the new current market. Some coins are dirt cheap already and will hold their prices. We did spend a lot at Pouge and we need to pay for it all! Of course we will work hard to get you into the coins of your desires.

Stay tuned!

We expect all NEWPS to be posted by NOON Monday.


This Thursday is the sale!  Do not miss it! there are so many neat and affordable coins.

If you need coins described, we have a full time top rated numismatist available to help you.

Call the auction dept NOW for terms or if you have any questions. Sorry, we do not have a jet to send out :-(!

732-935-1168 Auction phone number.