VISIT LEGEND NUMISMATICS AT TABLE 308 AT THE FUN SHOW – Jan 3rd – 6th.
A SURPRISING YEAR!
2023, for sure, had many challenges for Legend. There were about 3 months where we wondered why the market turned so soft (we say the switch totally turned off). However, Legend still sold nearly $50 million in rare coins. December activities were mind blowing where we sold two coins for well OVER $2 million each. We didn’t see that coming! As mid December approached, activities were so strong, we contemplated staying open an extra week (we do answer our emails still)!
What was active for Legend in 2023?
For us, it was HIGH END eye appealing coins and gold. The sweet spots, price wise, were coins $2,000.00-$10,000.00. Interestingly, all of the sudden Barber Proof Type got red hot for us in December. We posted a gorgeous 1900 Matched original Proof set and had 4 serious CASH buyers at $82,500.00. We’ve been waiting a long time for coins like those to reawaken. In our opinion, Barbers and Seated are tremendously UNDERvalued.
Throughout 2023, gold was the main seller. We sold “soup to nuts”. The hottest area, for us, was Early Gold. While MS Saints definitely cooled. Generic gold in GEM did well all year. Yet we are perplexed that even with gold bullion rising above $2,000.00, there has been no mad rush to out strip supply.
The market has some hidden surprises. We convinced a collector to start an all PCGS/CAC Pr66 Buffalo set. We stalled out after 2-3 coins. With slightly higher pops and several that are CAC, we figured it was a completable collection. That apparently is one area where “the deep black hole” absorbed the lion’s share of the coins. Watch for the values of those coins to eventually rise. Another crazy area-MS Standing 25C FH PCGS CAC. Where in the world have they all gone? Any nice PCGS/CAC FH Quarter will command a premium.
Other Nickel coinage was pretty much depressed for 2023. However, we are seeing some new life as a few areas (especially in Proof) are completable. Early copper has its own world. While MS Lincolns are one of the more collectable and collected areas.
Our word to our collector base, no matter what you collect, BUY THE BEST QUALITY AND EYE APPEAL YOU CAN AFFORD. The secret to success is EYE APPEAL. You can have an $1 1880S in MS65, so long as it has killer looks, you will do well with it. Being price conscientious can translate to tough to market in the future.
NEED AUCTION REPRESENTATION AT FUN? WE WILL BE VIEWING THE LOTS AT THE SHOW. ALL REPRESENTATION IS FIRST COME FIRST SERVE. EMAIL US TODAY!
Look ahead to 2024
In 2024 you will see a few more PCGS NON CAC coins posted by us. No, we are not leaving our original PCGS/CAC program. It’s only going to be a few selected areas.
MS 67 Saints, this year we sold several PCGS non CAC. We chose them because we see opportunity in PCGS MS67 saints that are deserving of a bean and beaned PCGS MS67 saints, there is a $20,000.00 price difference. Of course, we will make a two way market in the specific coin we have sold. We also look to handle more CACG coins. There really are not many on the market yet, so it will take time for us to obtain any quantity.
Our main recommendation is still to build a Type set. It can be gold or silver. The beauty of a Type set is you can chose whatever coins you want in it. And of course, we still highly recommend PR Barbers as you can complete ANY series in 64-67.
Lastly, by customers demand, you might see a few Proof Franklins on our site.
NEWPS
We have some awesome FRESH coins ready to go for January 5th.
Until then, check out our PCGS/CAC inventory. There are some great coins that deserve to be in a great collection like yours! We are taking orders via email and they will be shipped Thursday of next week.
Legend Numismatics wishes to thank everyone for making 2023 a success. We sincerely appreciate the friendships and business!
We are looking forward to a great 2024. For the first time in a few years, the entire Legend team will be at FUN Wed and Thur. Stop by, we’d love to see you!
Until our next Market Report on Jan 6th, have a safe and Happy Holiday!
OUR OFFICES ARE CLOSED UNTIL OUR RETURN FROM FUN. NO PHONE ORDERS OR MESSAGES PLEASE. WE DO CHECK OUR EMAILS DAILY.
