By Matthew Bell – Legend Numismatics ……
This week’s market report is going to be all about the Regency Auction 37, which closed last Thursday, March 26.
We’ve spoken for the last few weeks about all of the changes that had to be made to make the auction happen, and Thursday we found out if those contingency plans were successful. We can say unequivocally that they were. Spurred by an unprecedented digital ad blitz (for us at least), phone calls were coming in non-stop throughout the week as new registrants tried to figure out the best way to place their bids. Going into Thursday’s close, we had the highest amount of new bidders we’ve seen since the early days of LRCA (when almost all registrants were new registrants).
As 5:30 PM approached, we began the live portion of the sale. Immediately the number of live bidders jumped to a level much higher than normal for the first lot of a sale. This proved to be an omen, as we had consistently high views throughout the sale, with most bidders watching to the very end of the auction, even after their preferred series had crossed the block.
These bidders weren’t just watching either, as we had hundreds of thousands of dollars in bids come through during the live auction, leading to strong prices throughout. Of special note was the Seattle Collection, which showed that fresh, original coins really are the most sought-after asset in the industry, as every series in the collection brought strong numbers, from the 2C’s through the patterns. It was also great to see strong prices realized for gold, as there looks to be renewed strength in the market, even in these uncertain times.
Below are some of the highlights from the sale, though it is in no way comprehensive:
- Lot 1 – 2C 1864 LARGE MOTTO. PCGS MS65 RD : $2,291.25
- Lot 36 – 3CS 1872 PCGS MS66+ : $19,975
- Lot 57 – 3CN 1883 PCGS MS65 : $12,337.50
- Lot 58 – 3CN 1884 PCGS MS66 : $42,300
- Lot 69 – 5C 1870 PCGS MS66 : $10,281.25
- Lot 235 – 5C 1914 PCGS PR68: $17,625
- Lot 319 – 50C 1942 PCGS MS68: $18,800
- Lot 321 – 50C 1942-D PCGS MS68: $21,737.50
- Lot 372 – $1 1935-S PCGS MS66+ : $9,693.75
- Lot 386 – $50 1915-S PANAMA-PACIFIC ROUND. PCGS MS64 : $114,562.50
- Lot 391 – G$1 1889 PCGS MS68+ : $24,675
- Lot 398 – $5 1834 CLASSIC. PLAIN 4. PCGS MS64+ : $37,600
- Lot 422 – 50C 1921 PILGRIM. PCGS MS67+ : $7,050
These coins and many others performed admirably, but truthfully, they were not the highlight for us. The real highlight for us was how our consignors and customers came together to help make this auction a success. If our performance and interactions this month are representative of the entire coin-collecting community, then it’s clear that this hobby of ours will be able to not only survive, but thrive as we make our way out of this pandemic. We want to again thank everyone who participated for their support.
Moving forward, several consignments for Regency 38 came in last week to be a part of this amazing sale. We’ve already announced the BigMo Civil Set, the Blue Hill New Orleans Silver Dollar and Twenty Dollar Sets, and the Ogden Avenue Ladies Proof Liberty Nickel Set for this auction, but have several other amazing consignments in house that you want to miss.
We will be realizing a full watch list of this sale in the coming weeks, so look to our website for that.
As the consignment deadline for Regency 38 has closed, the consignment period for Regency 39 begins. We have two amazing collections in-house already for this sale that will be sure to delight, and will announce those in a few weeks after Regency 38 is live for bidding.
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Legend Rare Coin Auctions (LRCA), based in Lincroft, New Jersey, is a boutique-style rare coin auction firm.
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