Legend Market Report

By Laura SperberLegend Numismatics ……
 

THIS PAST WEEK’S ACTION

Finally, Spring is in the air and so is coin collecting. We are greatly surprised how there was only a small dip in demand around tax time. Seems activity is back to normal. In fact, our sales this week were extremely strong and were just under $1 million dollars–a totally UNexpected amount!

There is little rime or reason as to what is in demand. As a whole, TRUE QUALITY coins are selling for good money (key words: TRUE quality). Included in our sales last week: 1C 1909 S VDB PCGS MS66RD CAC; $1 1859 PCGS PR64 CAC; a killer 50c 1795 PCGS MS64 CAC; the killer $1 1859 PCGS PR64 Cameo CAC; $10 1795 NGC MS62+ CAC (this is one of those coins we wish we did not have to sell); and a $10 1908 NO MOTTO PCGS MS65 to name just a few. Coins between $2-$5,000.00 sold poorly because we hardly had any!

We see demand very strong (from our position in the market), while supply has is starting to slip into “will there ever be fresh, nice coins again?” mode. Pogue is now gone and there are no major collections on the horizon coming to market. We still view the past Baltimore Show as the last hurrah for neat coins for a long time. We hope the market doesn’t go into hibernation because of it.

Legend sales for the first six months of 2017 for sure will surpass the all-time record numbers we did in the first six months of 2008 (and that includes an $11,000,000.00 deal). Take our word for it… that’s a ton of sales! For us the market is not weak when we can get the coins. Our Want Lists are still $20,000,000.00. Not everything we need is five or six figures (any one have a 2C 1867 or an 1873 CLOSED PCGS PR66RB CAC?). In fact, right now buying coins valued between $1,000.00-$5,000.00 is actually our highest priority. We sell them as fast as we post them – if they even make the web.

This Week’s Want List: ULTRA CAMEO PROOF COINS 25C AND HIGHER. SEATED, BARBER, MORGANS, AND TRADE DOLLARS. All must be PCGS CAC. The contrast does matter. We pay more for crystal clear mirrors. We need a ton of these – what do you have?

NEWPS

OMG! We finally have a few DMPLs! We have a SUPERB offering of DMPLs from a 1879S PCGS MS66 DMPL to a mind-boggling super rare 1889S PCGS MS65 DMPL. We are always on the hunt for GEM DMPLs.

Another highlight of our offerings: $1 1803 LG 3 PCGS AU58 CAC. What a GEM AU! WOW!

This week we are close to being back on track. We’re working hard to find every one of the coins they want. Unfortunately we are back to seeing dreck and looking at retreads (which we will NOT buy).

ALL NEWPS WILL BE POSTED BY LATE SATURDAY AFTERNOON

LEGEND AUCTIONS

www.legendauctions.com

BID NOW! Even though our May Regency Sale closes May 18, it is never too early to bid – especially when there are already many strong bids! We are amazed at the amount of new registrants too!

If you have any questions, or need assistance please contact Julie Abrams (julie@legendauctions.com) and Greg Cohen (greg@legendauctions.com). They will happily help you with any needs or questions.

MAJOR ANNOUNCEMENT

Legend Auctions is proud to have been consigned a small but powerful group of coins that Legend Numismatics sold back in 1993/94 to a customer. We have aptly named the set The 1994 Collection.

The ultimate highlights:

  • 1C 1856 PCGS PR65 RD CAC bean. This coin is as mega nice as you will EVER see! The color is a totally GEM Mint red.
  • 1C 1909 VDB NGC PR65RB CAC bean. In addition: there is a set of 1C Lincoln 1909 to 1916 all PCGS CAC bean BN-RB. These are as fresh and unmessed with as they come!
  • 20C 1876, 1877, 1878 examples all PCGS CAC bean 65-66 A few have killer colors.
  • $20 1909 PCGS PR66 CAC bean. This unquestionable beauty was handpicked by the principals of Legend back in 1994. This coin is NOT the 1994 coin that sold in auction as a PR65. We rank this coin at the very top end of the mere four coins graded by PCGS. No PCGS PR 66 has ever been sold in auction. Pre-sale estimate: $125,000.00-$150,000.00. We fully expect this coin to sell for a record price!

Of course there are several other incredible coins in this collection. This group more than proves that if you buy top-end coins and hold, YES, you can make money!

Julie and Greg are now busy cataloging and flying around to pick up other incredible collections for our June and July Sales. Space is filling up fast. July is also the last segment of the Northern Lights Collection of Toned Morgans. Plus, PCGS and Legend Auctions will be having a special event at the July PCGS Invitational–you won’t want to miss it. Book your trip to Las Vegas and stay tuned!

A NEW SPECIAL DEAL!

Consign now to our upcoming June Premier Sessions or July Regency Sale and get IMMEDIATE credit for any Legend purchases. NOTE: ALL coins must be unreserved in auction. Call us now for full details. NO GIMMICKS, NO GAMES. AND NO INTEREST CHARGED! All coins MUST worth OVER $7,500.00 to participate in this program.

The deadline for consignments for our June Premier Monthly Sessions and the July Regency Sale is rapidly approaching. Contact Julie or Greg today!

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IF YOU HAVE ANY QUESTIONS OR WISH TO ORDER, YOU MAY ALSO EMAIL US AT legend@legendcoin.com. 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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