Legend Numismatics Market Report

By Laura SperberLegend Numismatics ……
 

UNEXPECTED ATTENDANCE

Here comes our broken record again. If you haven’t been to a PCGS Invitational, then go! These are very small shows that offer a unique opportunity for collectors to have some face time with the real movers and shakers while meeting other collectors and getting their coins graded.

We expected nothing much from this show. Several of the bigger players were from Houston and Florida, and as expected they did not attend. With the Jewish holidays looming the timing was not very good. However, it is safe to say, the public attendance was huge! At one point on Thursday, we saw collectors out number dealers two to one. That was a dream for those of us who had tables.

Selling as usual was too easy. For us our “secret stealth seller” did a great job and we know he left town smiling about his overall results. We sold a few nice coins as well. From our perspective, people are simply seeking nice coins. They don’t want retreads or dreck. The biggest problem for us has been obtaining and keeping coins $2-$8,000 in stock. At this show we had first shot from a few people and were able to buy a couple of things on the floor. In fact, our buying at this show was far better than at the ANA–and maybe even Long Beach!

The next show of any kind is the October PCGS Invitational in Philadelphia. We know the dealer attendance will be strong, especially since a few west coast guys are coming. Between a few things PCGS has planned and our awesome auction, we know there will be MANY collectors in attendance. It is worth the trip – try to attend!

THE FAIRFAX VIRGINIA COIN CLUB

Fairfax Coin ClubLegend sends its best wishes for success to this brand-new club. We’ve known one of the founders, Daryl Haynor, for a very long time. We see his intense dedication to the hobby and his collection. We can not imagine this club will be anything but a great one to be a member of and will create a quality numismatic experience for ANYONE who joins.

If you have any questions, or wish to attend or join the club, contact FairfaxCoinClub@gmail.com or visit Fairfaxcoinclub.com.

GOLD

We admit to being forever gold bugs. We still like gold a lot. If we find nice, PCGS CAC GEM Gold, we always try to buy the coins. There are NO real quantities of them available.

Something interesting is happening with MS66-MS67 Saints. For the longest time, we were the only bidders. Now there are a few dealers bidding and we had to raise our bids to match them! It is our belief there is one person trying to hoard the coins. We know there is one guy doing so specifically with MS67s–and he is paying ridiculous money to do so. They had to raise the bids because NONE were coming out. We do not expect the bids to go higher.

The price of gold has seemed like it wants to break $1,300. It did earlier this year and just keeps flirting with it. One expert has even been on CNBC calling for $1,400 gold to happen soon.

Its better to buy now while there is no “herd effect” causing premiums to rise overnight. We still strongly advocate Type sets. However, there are many great and inexpensive sets you can build.

NEWPS

Finally, we were able to buy a few coins – ring the bell! As we mentioned before, with no real competitors around, we had first shot from more dealers then usual. Plus, we bought some sweet coins from a collector who had dupes to sell. All we were praying for was to find a few coins… which we did the first day!

1894 Indian Cent - Legend Numismatics

  • 1C 1894 PCGS MS66+ RD CAC bean
  • 5C 1915 PCGS PR67+ CAC bean
  • 10C 1873 NO ARROWS CL 3 PCGS PR67 CAC bean
  • 50c 1897S PCGS MS66 CAC bean – DUCKOR AKERS
  • $1 188OS PCGSMS68+ CAC bean

We have many other great NEWPS for you to check out. Plus, we have some great PCGS/CAC pieces in our regular inventory, too. We want you to know, ALL of Legend’s coins are competitively priced–we NEVER take shots. Our sell prices are based upon what we paid. And you should all know, if a coin is a legit monster, we paid up for it!

NOTE: Proof Morgan Collectors – next week will have a small fresh and really exciting group grading PR64-PR68!

ALL NEWPS ARE NOW POSTED


LEGEND AUCTIONS

www.legendauctions.com

 

BOOM again! In one week we have had several hundred bidders placing over $3,300,000 worth of bids! And not just placeholders, either. With a jump start this strong, we know auction time will yield really strong prices. Be prepared. If you have any questions about the coins, values, setting up phone bidding, please contact Greg Cohen at greg@legendauctions.com. He will give you straightforward advice.

A reminder to our West Coast friends: we will be having a full lot viewing in conjunction with PCGS Public Day October 13 at the Holiday Inn in Santa Ana. We suggest you let us know ahead of time if you plan on lot viewing.

You can also come in Tuesday October 24 between 3-6 in Philadelphia to lot view, please make an appointment. We will have all day open lot viewing Wednesday and Thursday. We do expect a crowd.

THE OCTOBER PREMIER SESSIONS SALE

This will be one of our most quality-oriented monthly sales yet. We plan on posting the sale and going live mid-week (due to the Regency Sale we were slightly behind). We are putting the final touches on cataloging and imaging the coins. We think you will very much enjoy this sale!

IF YOU HAVE ANY QUESTIONS OR WISH TO ORDER, YOU MAY ALSO EMAIL US AT legend@legendcoin.com. WE DO NOT CHECK OUR MESSAGES UNTIL MONDAY 9 AM.

For more information, please visit www.legendauctions.com.

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Legend Rare Coin Auctions (LRCA), based in Lincroft, NJ, is a boutique-style rare coin auction firm.

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