Market Report by Laura Sperber – Legend Numismatics ……
LEGEND NUMISMATICS IS PLEASE TO ANNOUNCE THE SALE OF THE 1C CHAIN AMERI PCGS SP65 BN CAC
This market report sale actually was negotiated and agreed upon at the FUN Show. All we can say is the coin was sold to a long-time friend of Legend who is NOT one of the usual suspects.
And it’s not just our opinion that this coin ranks as one of the all-time-greatest rarities ever. It is more than just an incredible coin.
To quote researcher John Dannruther: “[I]t is a one-horse race here that this is the very first US coin ever struck”. The fact that this coin had polished dies and was so carefully struck lends to that theory. Plus, Ameris were known to be struck before the full America cents.
Our customer had so enjoyed being the custodian of this magnificent and historic piece. His place in numismatic history is now documented in the pedigree, though he is not retiring from the hobby at all. He is young and he will be collecting many more rarities as time goes on!
A huge congrats to the previous and new owners! We were honored to have handled this amazing coin. This sale will forever rank as one of the greatest in numismatic history!
Life After FUN? A Market Report
Heck yeah! It never fails. Everyone who did not get what they wanted was shopping hard the few days after FUN. Our sales were not just strong but huge!
We sold soup to nuts. We’re still discussing several larger coins (three six-figure coins) as this market report is being written. We do, however, expect activity to slow a bit as after this week most FUN Show NEWPS have been offered. To be noted: the strong activity at FUN and the week after confirms that there is strength in the market. There just have to be better coins offered. That is why we have complained about how these internet-only auction houses and mass web sites offer “thousands of rare coins”. It’s more like thousands of junk/moderns and of course seriously pathetic retreads. When the public knows fresh GEMMY coins are available, they pop up.
It sure does seem that at FUN, ANA, and an occasional Baltimore Show, fresh material makes its way to the auctions. The days of seeing a GEM set of Stellas or a group of true rarities being offered at a show are becoming quite scare–no matter the size of the show. In this Market Report we saw small groups or single coins can and do pop up at any time (although VERY infrequently). All of this has caused collectors to now seemed trained to buy only at certain times – which is wrong. Collectors need to ALWAYS be prepared, even if the coin market is bone dry. On-and-off activity like this can make for a very bumpy market (2019).
In our Market Report, we are still bullish on 2020. We have clearly seen that PCGS CAC coins bring the strongest money because they have the strongest demand by far. We’d guess that out of the entire CAC population, less than 5% of all coins are available for purchase. And that number could be way too high. In better gold, we place it at less than 2%. Just go look at how many “better” PCGS CAC pieces you find for sale – NOT MANY AT ALL. It’s actually comforting to know coins are in strong hands (but it’s not always good for our business).
Market Report NEWPS
As you would expect, we have some dazzling quality pieces offered in ROUND II of our FUN newps.
Our highlight piece is the FINEST graded G$1 1851-O PCGS MS66+ CAC. This looks like one of those crazy wild commoner dates!
Next up is one of our favorite coins: a “Bro Jo” shipwreck piece: $20 1865-S PCGS MS64 CAC. We ALWAYS buy them when they are in the original holders. These are rare and are seldom seen. Do NOT confuse them with the Central America coins.
Every coin posted was selected for its outstanding quality and eye appeal (a coin has to be really nice to be “Legend quality”).
Still Building Great Collections
Now that we are advanced on a few Type sets, we’d love to work with a couple more people to build a set or two.
A Type set can be anything you want. It is picking a representative of a series. It can be a common date in high grade or a Key Date. Unless you want to build one of the greatest, Type sets can generally be completed.
We work as a team. We represent you and or we find the coins for you. We also help you avoid making mistakes and buying bad coins. We’ve collaborated with hundreds of collectors over the years to build great sets. And we assure you, a set built by Legend Numismatics is BETTER than most others.
Contact us today – there are some cool coins coming up this Spring. Even with the few coins around today, it is a great time to start a set.
If you want to build a really exotic collection, then that is what we live for. Contact us!
Legend Rare Coin Auctions
Regency 36 is alive and kicking. We have several hundred registered bidders already and millions of dollars of bids. Collectors know the coins we offer are of far better quality then what you see elsewhere. No internet auctions come close to what we have!
This sale closes January 30 with a live sale at the Venetian Hotel In Las Vegas.
If you need to discuss terms, phone bidding, or just request assistance, please call the auction company at: (732) 935-1168.
The auction company is always accepting consignments. Our next sale is March 26 in Philadelphia. We will have an announcement shortly about a great collection already consigned!
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.
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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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