By Laura Sperber – Legend Numismatics ……
A TIDAL WAVE HIT US
WOW! Totally unexpected and out of the clear blue sky, between last Tuesday afternoon and Thursday evening some way some how we did nearly $1 million dollars in sales! It all happened just that fast. We consider it a fluke, but MANY fresh (really fresh) coins were involved. However, we do have 40 years worth of contacts in the business so events like this do very much happen from time to time.
As we all know really fresh NICE coins stimulate buyers.
Early that Tuesday we bought a huge six-figure deal from a long-time collector who wanted to move some of his dupes (his dupes would be some collectors’ #1 coins). He has some really nice coins that have been off the market for a few years. While the total amount of coins we bought was only a double row box, the values were big. Plus, making it easier for all involved, EVERY coin was CAC. We do buy non-CAC, but unless it’s from a collection from 50 years ago, no way are we going to pay strong or crazy numbers.
By the time we got home, we hadn’t even inventoried the deal by the time we sold the first coin to a Want List customer. And at the same time we bought this deal, we bought another six-figure deal of better gold. How long do you think the better gold lasted? ALL gone in LESS than an hour! If anyone wants to sell us more PCGS CAC better $10 Indians or Saints, just call us!
What we are proving is that, even in a tired summer doldrum market, if something exciting comes along, people wake up and are there to pay the price.
These are some of the bigger value coins we can tell you about that we sold this week:
- 50C 1795 PCGS AU58
- 50C 1923S PCGS MS66
- $1 J-60 1836 Original PCGS PR64
- $1 1894 PCGS PR67 Cameo
- $2.5 1899 PCGS PR68 DCameo
- $10 1908 N/N PCGS MS67
- $10 1912S PCGS MS65
- $20 1924D PCGS MS65
Besides the coins from both deals, we also sold the majority of the PCGS MS66 CAC Saints we have in stock. ALL sales this week were to collectors. We still have another $350,000.00 in pending sales. We’re kinda in shock.
Now we’re not so much looking forward to Long Beach. It’ll be sort of a letdown after the week we just experienced. We do know many East Coast dealers aren’t going to attend. Between really tough grading and many not being profitable, they wonder: Why make the trip? That can mean as much as 1/4 of the show not attending–which does hurt. Save for the ANA and a PCGS Invitational, summer shows (all summer shows) really should be canned as they’re rarely successful for dealers. Too bad we’re all creatures of habit. Only the Legend Auction team (and Legend’s inventory–NEWPS will be brought by request only) will remain at the table after Wednesday.
Our overall outlook has NOT changed. We’re hitting the summer doldrums, we just happened to get smashed by a tidal wave!
We have only a small group of the coins prepared for sale. We’ll admit that the few coins priced $1,000.00-$2,000.00 were sold as fast as we posted them last Friday. Again, we are NOT over looking that segment of the market… we just can’t find the coins we like!
Here are a few highlights;
- 2C 1873 OPEN 3 PCGS PR65RB – a really HIGH-END stunner!
- 50C 1838 RE PCGS MS65 – totally original color. Really hard to find in true GEM
- $1 1871CC PCGS AU58 Eliasberg/Gardner – a pedigree nirvana!
- $2.5 1885 PCGS MS62 – really tough coin
We always try to have an offering for all tastes and budgets. Don’t forget to check out our regular inventory listings as well. We want to place great coins in great homes!
ALL NEWPS ARE NOW POSTED
OUR JUNE PREMIER SESSIONS SALE IS NOW LIVE! It will close 6/15 starting at 10 PM. The major highlight is the exceedingly FRESH SW Collection of MS Indian Cents. They had been graded only recently after being raw since the day they left the Mint. There are some truly neat coins.
REMEMBER, ALL SESSIONS SALE HAVE ONLY A 10% BUYERS FEE!
WE WILL HAVE ALL THE COINS FROM THE JUNE SALE AND SOME MIND BOGGLING HIGHLIGHTS FROM OUR UPCOMING JULY REGENCY SALE AT OUR TABLE (601) IN LONG BEACH.
After we return from Long Beach we promise to blow your mind and start discussing in detail the really fresh and incredible quality coins in the July Sale. The grand highlight–a $20 1909 PCGS PR66 CAC from the 1994 collection–all coins we placed by us 23 years ago! We will also have one the most comprehensive and out of this world FRESH ORIGINAL groups of Matte PR Lincoln Cents. Today we received what is believed to be the FINEST $20 1878 PCGS MS64 CAC – an unknown piece! There are just too many things to name right now.
A MUST ATTEND-THE JULY PCGS INVITATIONAL JULY 12-14
PCGS has formally announced the display of the Dexter/Pogue/Morelan 1804 $1 at the July PCGS Invitational. It will be the only time this coin will be displayed this year. In addition, Legend Rare Coin Auctions will give all on-site registrants to our July Regency Sale a free walk-thru at PCGS!
And if you’ve ever been to a PCGS Invitational, you know the food spreads PCGS puts out are unbeatable!
So come by, we’d love to see you! The staff of Legend Numismatics will be there and will happily offer free appraisals and have a wonderful selection of coins for sale.
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IF YOU HAVE ANY QUESTIONS OR WISH TO ORDER, YOU MAY ALSO EMAIL US AT [email protected]. 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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