By Laura Sperber – Legend Numismatics ……
ANOTHER GREAT SALES WEEK
We think we know why we are selling so much – we’ve had the goods the past 30/60 days. As we mentioned a little bit ago, once we’re pretty much sold out, our superhero status will be gone. We’ll be crying as loud as anyone. This past week was another record-breaking sales week in line with our record-breaking first half of the year. We sold well over $500,000.00 USD directly to collectors.
Some highlights of sales this past week were sold soup to nuts: H.01 1845 PCGS PR65RB CAC ORIGINAL, 1C 1909S VDB PCGS MS66RD CAC, 10C 1906 PCGS PR67 CAMEO CAC, 20C 1876 PCGS PR65 CAMEO CAC, $1 1879S PCGS MS66DMPL EX JACK LEE, $1 1892 PCGS PR67 Cameo (we could have sold four), a stunning $20 1914 PCGS MS66 CAC, J-1425 1871 PCGS PR66 Cameo CAC (R-8). Those coins were just the ones we would mention! If you noticed, last week’s NEWPS were being bought as fast as we listed them. We do not mention all this to brag, we’re showing full proof of how OUR market is doing. There are a lot of other dealers not doing so well and they wonder why.
As much as people don’t want to hear it, demand for the CAC bean is as strong as it’s ever been. PCGS/CAC combined are unquestionably the ultimate in liquidity. We just witnessed a coin sell in our our May auction in an NGC holder (NO bean) for $5,288.00. The coin is now listed on a dealer’s site in a higher-grade NGC holder (definitely NO bean) for $29,500.00 (apparently the original ask of $59,500.00 was a mistake). Buying CAC avoids being trapped in a coin like this. And it DOES save you from buying doctored coins. We can always argue about grading in any service at any time. So as much as some people in the clear minority might growl over those statements, our sales have only grown stronger because of PCGS/CAC. It does help to be an educated buyer. We are NOT saying not to buy non-CAC coins either, we’re just discussing what we see from OUR position in the market (before all the boo-hoos on the chat rooms get ready to flame).
In the end, the market will have its short-term swings. However, it is crystal clear that you want to buy the better coins whenever you can. Even if it seems like you’re paying a premium during these summer doldrums, you’re still getting a somewhat discounted coin. If the coin were to be offered when more coins are around later this year it probably would be 10% more at a minimum.
Over the years, the smarter buyers have learned and proven not to be cheap on a great coin. You pay the premium to buy the great coin and hold (at least five years) – that’s what makes a coin grow in value. In the end, it IS and always WILL BE about the specific coin.
LAURA’S RETIREMENT: A CLARIFICATION
The original announcement was no joke or cry for attention. However, due to George Huang’s bad heart attack, the semi-retirement had to be delayed. Now that George is feeling better, the semi-retirement starts July 1!
To date this year, Laura has done more than 100,000 miles on planes plus attended 10 shows (not to mention traveling to see customers). When you’re scared to death of flying like she is, then that’s 100,000 miles way too many. That is the biggest thing that will be cut down (she will always go see customers, though). She will do LESS shows, and when she does a show she might leave early (especially since most of her work is done early).
Note: you will still see her at all the major shows. She’ll be working fewer hours in the office, too.
On the auction side, she might skip a sale or two as they have hired a new top-gun manager (Serena Meyers) and has a very capable and competent staff. They also have Greg Cohen, a real full-time numismatist – not many other auctions companies do. Laura will still go over every coin submitted for sale and is still available for all questions.
Hope that makes it all clearer. Laura is NOT fully leaving… yet. She is, however, really cutting back on her work load and travel.
This week our NEWPS are off the chart! Lookie at what the grand highlight is:
A MATCHED ORIGINAL $2.5-$20 1902 Proof Set PCGS PR65-67 ALL CAC
First, good luck ever finding any GEM 1902 Proof Gold. Then good luck on EVER finding a matched original Proof gold set of ANY date-especially fully PCGS/CAC! This set is the opportunity of a lifetime!
Other highlights include:
- 2C 1873 CL 3 PCGS PR65 RD ex Troy Wiseman
- 5C 1912S PCGS MS66
- 50C 1807 DRAPED PCGS MS 64+
- $1 1870PCGS PR65 CAMEO
- $2.5 1829 PCGS MS64
And those are just some of the highlights.; As supply grows thinner over the summer, you will find that just about every coin we posted will be better then another dealers highlights!
ALL NEWPS ARE NOW POSTED
Do not forget to check out our regular inventory as well. We do have great handpicked quality coins with great eye appeal too!
CURRENT WANT LIST
Since we bought NOTHING last week on your Want List we posted, we decided to run it one more week;
We are aggressively seeking ALL PCGS CAC ONLY Cameo and Deep Cameo coins in 65 and higher. We will still look at NGC coins, but our acceptance rate is low and CAC is a must. We have several collectors now building Choice and GEM PR Liberty Seated 10C-$1 sets, plus of course ALL Proof Barbers, and Seated/Trade/Proof Morgan Dollars (the dollars can be PR64 and higher). Sorry we will NOT tolerate ANY haze, spots, or cloudy toning. The mirrors must be clear. We pay top dollar for real Cameos and Ultra Cameos.
Like everyone else, we need $10+$20 GEM Proof gold 65 and higher. Here too, no haze in the mirrors. Will take Matte Proof $10+$20 too PCGS/CAC ONLY.
Still need that $20 1907 WE High Relief in 66 or higher. HELP please our customer is getting slightly grumpy!!! MUST BE PCGS/CAC ONLY. In fact, we will take two!
The big event of July is NOW posted! Our July Regency Sale is now online and is open for bidding!
We invite you to review this incredible quality sale.
We will also be having a July monthly sale tagging along with it.
Make your plans to attend the July Auction in Las Vegas at the PCGS Invitational. The famous Dexter/Morelan $1 1804 will be on display. Plus, we will be giving out vouchers for one free walk-through at PCGS to ANY collector (no dealers) who register and bids in the sale July 13. These Invitationals are great shows-we invite you!
P.S Our June Premier Sessions Monthly sale was another HUGE success!
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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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