By Laura Sperber – Legend Numismatics ….
WE CAN’T BELIEVE IT
We thought May would be a decent month. So far, it’s turning out to be a record-breaking month!
Again, late January thought early March was a “perfect storm” of negativity from the coin market (as well as oil, stocks, etc). Prices certainly fell sharply during that time. The Pogue sale was the epitome of a meltdown and was the first time the expensive coins showed real weakness in years.
Today, all of the sudden, that time period is distant memory. The stock market is repaired, oil came back, and most importantly so did consumer confidence.
Our market had been slow but steadily improving. Ever since we sold the 1C 1793 Chain PCGS MS65BN, our sales have been especially strong. This past week we set a record – we shipped out 10 coins priced at OVER US$25,000.00 each to different people (none to our regular big huge guys). As far as we know, everything has sold.
Naming a few, these coins included: 1C 1798 PCGS MS64BN CAC, 25C 1806/5 PCGS MS64 CAC, a coin we consider to be the second best EVER PR Barber Half-50C 1901 PCGS PR68+ CAC, $20 1927S PCGS AU58+ (we could have sold this coin 3X), etc. Collectors are really animated by the new lower pricing.
Do know that, for as much as we’re enjoying some activity, the market as a whole is NOT rushing up.
The telemarketers are messing with some Indian gold again (raising their bids), but otherwise prices for MOST areas are stable. There are still a few areas that are plain old weak. Those include ALL NICKEL coins. MS+PR 3CNs seem kinda lifeless. We think building a GEM Proof 3CN set at today’s levels is reasonable. The only risk is will demand ever pick up? Shield Nickels seem totally unloved in BOTH MS+PR. Commems will forever be a sore spot. In our 35+ years career only once or twice did the collecting pubic ever really embrace the series. We look at prices today and shake our heads. We think building a TRUE GEM 44 Piece Commem Type set is great value-these coins are at their all time lows. Gold Commems too.
LEGEND LIKES
We don’t like giving out recommendations (and normally don’t unless you are a Legend customer), but we see so many opportunities that really are smart. So we figured its only good for the market to get people working on more projects, now.
Hence, here are a few things we like:
—If you want gold, build a Type set. It can contain ANY coin YOU want. Things like $5 Indians right now are still cheap as are common $3 pieces in choice or GEM. With ALL gold, we suggest you go 100% PCGS CAC ONLY. There are no bargains if you buy a bad coin.
—Legend still is a believer in TRUE choice/GEM Proof Barbers – ALL denominations. Don’t let the pops fool you. Nice coins are really hard to find. However, EVERY set in PR64-PR67 CAN be completed. Prices are still wicked cheap for the value you get with these coins.
—A regular Type copper/silver/nickel set. Why knock your brains out and buy bad coins to complete a registry set of something? A Type set allows you total freedom.
—A GEM Proof set of Buffalo 5C. Talk about a price drop! 5C 1937 PCGS PR68 CAC have fallen from $12,000.00 to a current $8,500.00-$9,500.00 max in the past few months. You don’t have to think that high-even PR66 coins are now UNDER $2,500.00 a coin. This set absolutely CAN be completed.
—Last, we think BUST HALF DIMES 1829-1837 are an over looked wicked cool set to build. Just a do a year set. Don’t rack your brain with the varities. These are some cool little coins.
These are just a few areas we see great opportunities in, other dealers may think differently or even disagree. The market still has a long way to go. If you wish to build any of these sets or want to discuss other potential areas, contact us. With out any question, there is no other dealer in the business today who knows how to build sets like we do (we’ve build the biggest and best sets ever)! You don’t have to build everything in uber GEM. Nice sets work at today’s cheap prices!
NEWPS
Wow! We mentioned we’d have a few DMPL’s and oh did we get slammed with emails. Folks,what we’re offering here today are not sloppy seconds. A few of the coins simply did not work (don’t ask). We are offering one coin that is NOT CAC (the others are going to be wholesaled). Until we have our offerings 100% in hand, we won’t hint at whats coming. Sorry.
Other NEWPS are really cool. Highlights include:
- 1C 1909 VDB PCGS PR65 RD CAC
- 25C 1928S PCGS MS67 FH CAC
- $1 1878 TRADE PCGS PR65 CAMEO CAC
- $1 1883 PCGS MS66+ DMPL CAC THE FINEST!
- 50c 1936 OREGON PCGS MS68 CAC
Of course we’re posting many other neat coins as well. Sorry, no better gold this week.
Don’t forget to check out our regular inventory, too. As many of you know, we’re working hard to get you into the coins of your desires. Remember, prices won’t be this low forever–and the supply of great coins is extremely limited!
ALL NEWPS ARE NOW POSTED! ALLOW 24-48 HOURS FOR IMAGES
LEGEND RARE COIN AUCTIONS
This week is it! The big dance happens down in the Big Easy Thursday night at 7:30 EST. Activity so far has been beyond our expectations. We’ve had several HUNDRED new bidders sign up and bid already. We expect this to be an intense sale.
BID NOW! If you need to register, set up phone bidding, or need special terms, CONTACT US TODAY! You can reach Julie Abrams at [email protected] to discuss. You can also call our HOT LINE at (732) 233-0179.
Unlike other auctions houses who have none, Greg Cohen is a fully-trained bourse-floor-experienced numismatist. If you have any numismatic questions about coins in the sale, please ask him! In fact, he will happily represent you *for free* in any Legend Auction, as will Laura Sperber ([email protected]), who personally represents many of today’s unquestioned biggest collectors!
Greg may be reached on the HOT LINE (732) 233-0179 or at [email protected]. Don’t wait, contact him today!
We suggest you contact us if you are new and plan on bidding in excess of $25,000.00. Unless you are a known party to us, we will not accept walk-in bids during the sale over $25,000.00.
This will be a great sale. Don’t miss it.
Ahead of time, thank you for participating!
IF YOU HAVE ANY QUESTIONS OR WISH TO ORDER, PLEASE EMAIL US at [email protected]. WE DO NOT CHECK OUR PHONE MESSAGES UNTIL MONDAY 9 AM.
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