THE FUNK IS NEARLY OVER!
THIS MARKET REPORT IS WRITTEN FROM THE OBSERVATIONS AND FACTS FROM OUR POINT OF VIEW. WE BUY AND SELL THE 5% FOR THE GRADE AND RARITIES. OTHER DEALERS WILL HAVE DIFFERENT VIEWS/OPINIONS BASED ON WHAT THEY SELL.
IS THE FUNK OVER?
We think the market is returning back to its strong cycle. As each day goes by, we definately see vacations are over and collectors are paying attention again. Thiis year the summer doldrums were specially strong, so we think the market won't fully recover until early October.
Fortunately, what Legend handles only got quiet for about 30 days. We can with out a doubt tell you our current market is strong. In fact, this past week was our second week where sales far exceeded our expectations. We sold mostly better coins-all CAC beaned . The 10C 1796 Newman coin was sold (was listed for $217,500.00), we had TWO six figure gold coins (one was actually on a Want List) come in (and of course were sold immediately). When we discuss our sales, we do so only to prove out the facts, not to show off. Its critical collectors know where the marketplace is and what is selling.
There are THREE major auctions coming up. The first one is Legend Auctions sale of the famous Sunnywood/Simpson colored Morgan Collection, then there are the Gardner sale (late Oct)and ROUND II of Newman (Nov). Between those 3 sales, there will be a tremendous amount of fresh and fascinating coins. For sure the marketplace WILL be raoring during that time and price records WILL be broken.
Still, the place to find the BEST deals-right now are with dealers. Many are still smarting from the summers silenced market. Cash flows are weak. You can generally negotiate some very good deals today. Always keep in mind the market has changed and is as huge and hungry as it as ever been. Passing up a coin today-especially a rare one is not a good move. That huge mysterious blackhole is still out there sucking up all the great coins it can! Plus, if you buy now, your not buying at the top of the cycle.
Many collectors have approched us about starting nerw projects. They are frustrated they can only build certain sets up to a #2-3 level (if even) in a set Registry. These people are clueless as to what to do now. Our advice to everyone: do not be a slave to any Registry! Coin collecting is not about that. While we think the Registries are brilliant marketing, we also see a negative side (like having to buy a pure dreck coin to make a point). You should always build the set YOU really want-not something will force you to buy things you do not like.
Our #1 suggestion for people to do: A Type set. It can be silver or gold. It can have every minor Type of coin or basil group that has the key dates for a series. A Type set is whatever YOU want it to be. Its pure freedom when building one.
We also tell people to look closely at the Sunnywood Collection. It is certainly no where near being ranked as #1. However, the majority of the coins int hat set WILL sell for "beyond moon money" record prices. How come? When the set was being built, the Sunnywood Collector knew to focus on quality and eye appeal. We can tell you for fact, there are coins in higher ranked sets that are nothing more then plastic. The Sunnywood set is pure quality. The prices realized will more then prove that out.
So if PR Barber Halves really interest you, don't worry about being #1. Its more important to build a quality set with a WOW factor.
Whatever set you choose to build, Legend can help. It does not have to be a million dollar or substantial set. We work as "partners" and share the experince with you-from start to finish and beyond! Plus, our ablities are unsurpassed. Not one active dealer today has exclusievly help build more "old time" top sets then us-NO ONE! Right now we see tremendous opportunities in Type, lets build a great collection!
LEGEND IS STILL BUYING
Yet again, this past week we had a few Want List coins come to us (THANK YOU coin gods)! We have a HUGE Want Lists-still. We do not need widgets or dreck. Its always amazed us how when we put a call out for coins, we get offered everything we do NOT need: generic gold, cheap 3CN Proofs, ratty Morgans, a gold stickered PR Merc, etc. Yes, we will buy those-for the same prices we'd pay on the bourse floor (which can be pretty cheap).
If you have BETTER coins that are PCGS/NGC and are CAC'd, let us know. We will also buy entire collections (they can be raw) if they have the coins we need. We especially neede BETTER BUST coins (MS64 and higher) , BETTER DMPL Morgans (64 and higher), ALL GEM PCGS (ONLY) CAC 20th Century BETTER gold (NO Generics except for W/Motto MS66+67 Saints). We prefer PCGS CAC coins.
Sorry, we will NOT make sightUNSEEN offers (except on MS66+67 Motto Saints). Call or email us with what you have: firstname.lastname@example.org.
As promised, this is the week we bring out some very special and neat coins. We will start with an exceptional group of GEM PR Matte Lincoln Cemts. Each coin is a full WOW! There is a killer 50C 1874 W/A PCGS PR66+ (that has been off the market for more then a decade) from this fabulous group of GEM MS+PR Type we recently obtained. We have 3 special Bust Dollars starting with a $1 1795 Flowing Hair 3 LVS PCGS AU58, plus the Eliasberg PCGS MS64 CAC! The third Bust Dollar is the remarkable $1 1798 SE PCGS AU58. We did not forget our friends who love gold: $2.5 1898 PCGS PR66 DCAMEO and a unbelievable $10 1850 LG DT PCGS MS64-A MEGA WOWZER!
We assure you, the balance of the coins in this weeks offerings would all be highlights for ANY collection they find a new home in. Legend quality is superior to most else thats out there-really! Plus, the total value of the NEWPS we are posting between this week and last week: well in excess of $1,000,000.00+.Now thats something too choose from!
Pinch us! Every day this past week we had people in our offices to lot view (one day we had 3 people). The Sunnywood sale is attracting VERY serious bidders-and not just for the Morgans. We figure over HALF of the Sunnywood set is already at RECORD price levels. We did our best to make strong estimates, however we apparently under estimated the markets hunger for GEM true colored Monster Morgans! So, if your planning on bidding in the sale, do know there is ahuge possiblity many fo the coins will sell for "beyond moon" money! Please do not hesitate to ask us for advice. In fact, if we represent you-ITS FREE!!!
Even if you do not collect Morgans, you really should attend the PCGS Invitational to see this incredible group-especially the 80S+81S!
Alsoo included in the sale are exciting coins such as : 1C 1912D PCGSMS6RD CAC, 3CS 1861 PCGS PR66+ Cameo CAC , a GEM 25C 1796 PCGS VF35 CAC, $1 1876 PCGS PR64 Cameo, and a gorgous $20 1907 HR WE PCGS MS66.
If you have any questions, need to set up phone bidding, please call or email Julie Abrams at: email@example.com
We've begun accepting consignments for our Decemeber Sale. We've already have a blockbuster collection with another one on the way. Plus, we'll have our first MILLION DOLLAR coin to offer. All details will be released AFTER our Oct ober 2nd Regency sale. You do nto have to have a monster zillion dollar coin to make our sale, it just has to nice and worth more then $2,000.00 (min total consignment $7,500.00). All coins sent for consideration are subject to rejection. We do our very best to make sure every LRCA sale has the BEST quality coins!
We assure all collectors, LRCA has one of the most powerful groups of coin buyers ANYWHERE. Just check all our highlights from previous sales to see what records were smashed. Also, we limit each sale to 500 lots-and prepare beautiful hard cover catalogs. Try us, you WILL love us!
Visit : www.legendauctions.com to learn more.
IF YOU HAVE ANY QUESTIONS OR WISH TO ORDER, WE DO NOT CHECK OUR EMAILS UNTIL MONDAY AT 9 AM. YOU CAN REACH US VIA EMAIL: firstname.lastname@example.org