By Laura Sperber – Legend Numismatics ……
MARCH CAME IN LIKE A LION
We are surprised that the strong wave of activity from January and February has remained unbroken. In fact, it seems that the coin market is gaining momentum. We knew when the stock market began wavering that people would start looking to other areas to park some money. Now, we are feeling a small pinch of that money coming in. There is NO euphoria or speculation. It’s just hard-nosed collectors stepping up their games. It has also forced the market to openly reveal there really is a severe lack of great coins. So it’s only a matter of time before prices increase dramatically across the board and not just in auctions when the “right” coins appear.
We know the market is nowhere near any peak. New money is coming in. It isn’t smaller collectors either. We never thought we’d work with another Bob Simpson type yet here we are, working with TWO – both pretty new to coins. We know others who are experiencing the same situations.
We expect March not to end like a lamb, either. The Whitman Baltimore Show could be very interesting. The still pent-up demand is huge and is only growing. The recent Heritage Long Beach Sale easily proved that. Our stealth secret seller has been setting sales records at the major shows this year. All we need right now is a little fuel for the fire (some coins to pop up).
We cannot stress enough though: quality is everything. Marginal coins are NOT and NEVER will be premium coins. Always think about the eye appeal as well, too. We never recommend just filling holes – even if you think a coin is way too cheap.
We saw this quote from famed investor Warren Buffet and totally agree:
“Though markets are generally rational, they occasionally do crazy things. Seizing the opportunities then offered does not require great intelligence, a degree in economics or a familiarity with Wall Street jargon such as alpha and beta,” he wrote. “What investors then need instead is an ability to both disregard mob fears or enthusiasms and to focus on a few simple fundamentals. A willingness to look unimaginative for a sustained period – or even to look foolish – is also essential.”
That quote is so realistic. The key words in that quote to us were: ”focus on a few simple fundamentals”. Since in our world all the printed pricing means are so broken, buyers are unsure–save for those few who work with a good dealer or understand the value of owning the coin. A lot of coins popping up today are still good deals even if you had to stretch hard to buy them. You have to understand you are simply paying “market”. If you’re looking at a coin with a pop of LESS than five, then you need to realize that is an extreme rarity. Chances are you are not going to be alone in needing or wanting it. You are not going to own it by trying to pay a “reasonable” price. You have to think more realistically and aggressively today.
Buying the very best quality, paying the premium, and holding for the long term (yes, there will be short-term swings) WILL yield you great returns. This has been proven over and over again. Normal people (you don’t have to be a Simpson or Pogue) really do make money in coins – it just has to be done right. If you want a quick return, go buy stocks.
LEGEND WILL BE ATTENDING THE ANA MID WINTER SHOW IN DALLAS. STOP BY AND SAY HOWDY!
We’re back to a smaller offering of NEWPS. We are not going to compromise Legend quality for quantity.
This week we have an out-of-this-world 1843-O PCGS MS63+ CAC as a highlight. We’ve never seen anything like it. There is supposed to be only one better, but we doubt it looks anywhere close to this piece. The 3CS 1865 PCGS MS66+ CAC is a killer, too. Every coin now posted was handpicked for being HIGH END and having great eye appeal.
Do not forget to check out our regular inventory as well. We still have some great coins that need great homes! We are VERY fair and will work hard to get you int he coin of your desires.
ALL NEWPS ARE NOW POSTED. ENJOY!
We wish to thank everyone who made our February Premier Sessions sale a huge success. We sold nearly $500,000 USD worth of nice coins. We had a record number of new registrants and bidders.
Due to the negative stigma about what Monthly Internet Only sales are, we are dropping the Internet Only Sale from our titles. From now on, they are simply Premier Sessions Sales (dated).
Our Internet sales are NOT anywhere near similar to the chop shops that sell hundreds of slop coins and over-valued moderns. We believe rare coins are just that: rare. And the Legend brand is all about quality. We want everyone to know that when we have an auction, it will be a smaller, higher-profile sale. Laura personally looks at and approves EVERY coin in each sale along with Greg Cohen, senior numismatist (we really reject coins). Plus, we provide full descriptions and quality images. No one else comes close to that!
THE MAY REGENCY SALE-NEW ORLEANS
We are close to hitting our limit of 750 coins. This is a rare TWO-DAY SALE (Wednesday and Thursday). We have two major Dollar Sets that anchor what we are calling Dollar Day (Wed., May 16). The PFM Collection of Morgans–an all-white PCGS set, #6 on the Registry–and the killer Crow River Peace Dollars, all PCGS, most are CAC and all are blast white (the 22S in MS66 is to die for), are the main sets.
In the Thursday sale we have the wonderful Proof Three Cent Nickel Collection of David Poole (a true gentleman collector), #3 on the PCGS Registry. There is the incredible Oak Crest Collection of $5 Liberty CC coins (minus only the ’70-CC). The coins grade AU-MS64+ and most are PCGS CAC. There is also a complete PCGS PR65 Liberty Nickel set (to be sold as a set). We have two small groups of PCGS $2.5 Classic Bust Gold XF-MS61 and a wonderful group of MS62-64 better Seated Halves. Single coins: 50C Rhode Island 1936-D PCGS MS68 CAC, a 25C 1916 PCGS MS67 FH, a to-die-for wildly colored 1C 1935 PCGS MS68+ CAC. A superb $20 1861-O PCGS AU53 CAC-that is totally fresh to the market. Of course it would not be a Legend Auction with out a few killer toned Morgans. Add to that a MONSTER group of late-date toned GEM Walkers! The list of great coins only keeps growing daily, so check the site often.
We are working to set up lot viewing in NYC and possibly LA before the sale. We expect to have most if not all of the coins at the April PCGS Invitational.
VISIT OUR WEB SITE: www.legendauctions.com. YOU CAN NOW SEE OUR SALE BEING BUILT. NOTE: lot order will change. Images and descriptions will be posted as completed.
We are really in our final call for consignments to the March Premier Sessions Sale and the May Regency Sale. For the March Sale, we need he coins in house no later than March 9. For Regency, final drop dead deadline: March 23. Contact Julie Abrams: [email protected] or Greg Cohen: [email protected]. Not only will they craft a perfect plan for you (we do have hybrid plans), they will work with you from start until you receive your big check!
Our March Premier Sessions sale will be on display at the Baltimore Show. The sale will close March 25 starting at 9 PM EST. You are not going to want to miss this sale!
IF YOU HAVE ANY QUESTIONS OR WISH TO ORDER, EMAIL US AT [email protected]. WE DO NOT CHECK OUR MESSAGES UNTIL MONDAY 9 AM.
For more information, please visit www.legendauctions.com.
* * *
Legend Rare Coin Auctions (LRCA), based in Lincroft, NJ, is a boutique-style rare coin auction firm.
Connect with Legend Rare Coin Auctions on social media: