By Laura Sperber – Legend Numismatics …….
LEGEND BREAKS UP THE MULTI MILLION DOLLAR HALL/SIMPSON $10 LIBERTY SET
No, Bob Simpson is NOT dumping or selling out. He is repositioning. This is the last of his major “house keeping” sales. The value of this set exceeded $5 million dollars. We assure you, you will be seeing him attempt to be one of the most dominate buyers in the upcoming Pogue and other big auctions (plus everything else he buys direct from us). What he has been selling are not even 10% of his total numismatic holdings (he has coins that would make Pogue blush-really)! So why sell a #1 set then?
For some this maybe hard to believe: Mr Simpson loves gold. Loves high grade rare gold especially. When we were offered the set by David Hall, Simspon figured it would be pretty cool. However, he tried hard for a few years to understand and like the early part of the set which was circs (AU, etc). Recently he looked us right in the eye and said, “if this set was all MS64 and higher I’d like it”. We knew that could not happen no matter how hard we tried. That was the signal to find a buyer. He did keep the two MS68 pieces (one for his amazing Type set).
Another part of why this monster set was broken up-there is a new complete set created that now blows the Hall/Simpson set out of the water. We happened to know a collector who had a huge passion for $10 Libs and pretty much owned all the other rarities Simpson/Hall could have used. Mr Simpson does not like his coins being wholesaled. So with a major buyer lined up to give a substantial portion of the rarities a great home, we got the ok to sell. The new set is very private and will not be registered (as far as we know). We congratulate the that sets owner and we appreciated his agents assistance.
No, not all the great coins were sold from the Hall/Simpson set. So, if you collect $10 Liberties you should send us a “Want List”. Over the next two weeks we will be posting The CAC beaned pieces.
To see images and the list of what was in the set got to the PCGS Registry: http://www.pcgs.com/SETREGISTRY/alltimeset.aspx?s=129722
A GREAT TIME IS NOW TO BUY THE VERY BEST COINS
Right now is no different then back in 1995-2000 when you had many great collections being sold: Pittman, Eliasberg, Norweb, Thain Price, etc. Its the end of a cycle for some while being the beginning of a new time period for others.
Smart collectors should not panic about Pouge, Gardner, and even our Coronet Morgan Collection being sold. All of the owners of these great sets have enjoyed a lifetime of building and being caretakers for tremendous treasures. Now as they are all in their golden years, they recognize its time to let others take on being the new “time keepers’. The coins that will come on the market place over the next 2 years are mind boggling.
Sure, Pogue being announced on the heels of Gardner froze the upper end of the market for while. A initially lot of collectors panicked. Now, collectors are more relaxed and see all the great opportunities that are there. Plus, its not like its 2008 when competition was at the peak. We were a little taken back that the real activities are only happening closer to the sales, but they are now starting to happen. For the last 2-3 years the coin market was dry as all hell of fresh coins. Now, we’re starting to see some re-enter the playing field and at fairly favorable prices.
That last cycle (back in 1995-2000) also spawned many NEW power collectors. We do see a little of that trend starting to happen today. We think as the coins are sold, more newbies will pop up. Its hard for them to get excited about a GEM PR Morgan when they are being treated to sensational coins like the FINEST 1804 $1.00 or an MS66 $10 1795! There will be a trickle down effect-it did happen in 1995-2000.
We do predict that after the upcoming CSNS Show and the first Pogue Sale you will see what fresh top notch rarities still mean to the marketplace. We can see a major up turn in the upper end of the market that will last through the rest of the year (so long as there are coins to feed the demand). This also will hold the same in other less valuable areas as well. Its all about consumer confidence then supply and demand.
THIS REPORT IS HOW LEGEND NUMISMATICS EXPERIENCES THE MARKET. WE DEAL IN THE TOP 5% OF QUALITY AND RARITY. OTHER DEALERS WILL HAVE DIFFERENT EXPERIENCES