TIS' THE SEASON TO ENJOY COINS!
THE OPINIONS AND FACTS WRITTEN HERE ARE BASED ON THE ACTUAL OBSERVATIONS AND BUSINESS OF LEGEND NUMISAMTICS. OTHER DEALERS WILL HAVE DIFFERENT OUTCOMES AND VIEWS. OUR MARKET IS THE TOP 5% OF COINS.
Christmas is 26 days away yet it sure seems like it is here already. We just closed the books on a near record Novmeber. December already has shaped up to be record breaking (we have had a $4 million December back in 2007). Wholesale was surprisngly light, but our retail was tremendous and looks to continue that way for sometime. Plus, add to that the nearly $4 million we spent at Newman on behalf of several people-that is huge in itself. EVERY coin we bought at Platinum Night from Newman is sold. We've said it before, if the sale were again today, we'd be even bigger buyers! Last, in the past two weeks, we also have had more people updating and discussing their Want Lists with us. We conservatively have $20,000,000.00 of REAL Want Lists to fill-and its not all exotic or expensive coins either!
A negative side effect of business (for us): crazy never ending travel. While confirming and updating our travel for Deemember, we were shocked to see that EVERY week we will be traveling. And not just to one place. This week, we will be attending the Houston show, however half the team needs to leave early to fly to the West Coast to do some serious business. The following week we start in Florida and end up in the heartland buying a neat PR type deal (we are super excited about this group of coins). After that crazy trip its time for the Las Vegas PCGS Invitational and our LM Regency Auction Dec 19th. That does nto include day trips like having to go in and out of NYC (ever do that around Christmas?). Thank goodness for Christmas day, at least we do have the first four days of that week off-we start travelng again Dec 27th! Our January schedule already is no better.
We correctly predicted a "dead cat" bounce in sales and market enthusiasm from Newman. Besides totally exhausting the dealers who worked it, the sale certainly reinvigorated many collectors of "better" type. The prices realized-and even the prices of what he paid ($7,500.00 for coins worth $23 million) was definately inpsirational. For the past two weeks, we have sold as much better Type as ever. Included were two six figure coins that were immediate quiet sales NOT to the usual suspects! If we could find the right coins, we'd sell every single GEM better 20th century gold piece we could find. Here is a quickie list as to what we need (ALL CAC ONLY):
$2.5 1914D PCGS MS65 CAC
$5 1909O PCGS MS64 OR BETTER CAC
$5 1913S PCGS MS64 OR BETTER CAC
$5 1914S PCGSMS64 OR BETTER CAC
$10 1911D PCGS MS64 CAC NEED 3!!!!
$10 1926 PCGS MS66 CAC
$20 1913 PCGS MS65 CAC
$20 ALL PCGS CAC (ONLY) MS67 W/MOTTO SAINTS-have not seen or bought one in 8 months!
Of course our full Want List is MUCH bigger. What is listed above is just to give you idea. Sorry, we really do NOT need many generics right now. Also, Legend is not soley about the bigger coins. We LOVE to buy outrageous GEM Walkers, Morgans (we LOVE flashy PCGS CAC MS67 pieces), Peace Dollars etc, so long as they are priced right and have great eye appeal.
Another area that is red hot to us: Bust coins. We are super aggressive on buying great Choice (MS64 and higher) Bust halves and Choice Bust Dollars (no 1799). Bust gold is a dream. Thereis so little PCGS CAC available we have been dry for ages now.
This past week we bought a fabulous $1,200,000.00 deal. The majority of the coins are already SOLD (and we have not even taken delivery)! This deal was all Bust and Seated coins and Type-NO gold. It was also a deal that came to us inexpectedly. It took us just a few hours to figure and close the deal.
The rare coin market is definately active. We still say the Newman sale was like a cannon going off to start a major race. Only this time, the finish line is not in sight. There is still far more demand than supply. People ask us why aren't prices going up? To be clear, for BETTER coins, they are. First, your coins MUST be all there-a coin thats 95% is not all there and does not qualify. You have to rely on auctions prices realized to see it. These days thats how dealers actually buy and sell to a degree, Sure there is a slight problem of what to do when a coin does not trade in a few years, but those coins seem to be the hottest and we know its really been "quote" and shipwith the ones we have had! The upcoming FUN Show and HUGE auction will keep things humming.
This week we will have a smaller yet powerful group of NEWPS. We're going to hold firm on having quality coins vs selling any old dreck to make money. The highlights of this weeks offerings include:
One of the FINEST 1C 1837 We have EVER seen-PCGS MS66RB. Its not a Naftzger coin, but if he had seen it, it sure would have been (seeing is believeing here), a perinnial favorite of ours: 5C 1937D 3 Leg PCGS MS65+, and a wicked cool $10 1803 Extra star PCGS AU58. Of course EVERY coin we sell to the public is CAC beaned. There are many other great coins to choose from.
We actually held back some coins for next weeks incredible offering. Again, the offering will be small-but the coins for sale will be mindboggling! We've been waiting to offer a few of these coins (PCGS has had them tied up for imaging forever)!
The strength of the market has also been evident in the strength and number of bids and bidders in our Dec 19th Regency Sale in Las Vegas. We're 3 weeks out and activity has been really strong. The amount of coins that are already at top dollar has suprised us. Site visitors and NEW registrants have been growing at a tremendous pace DAILY. This is going to be one monumental sale! To see the auction or bid, visit www.legendmorphyauctions.com. We assure you, this is a TRUE quality sale. About 100 or so coins were rejected-yes rejected. We strive to produce the BEST possible auction everytime so you never have yoru confidence in us or our sale waiver. Our Motto: "A happy buyer makes a happy seller".
CONSIGN NOW FOR OUR FEB SALE! If you have purchased coins from Legend and wish to consign them, call or email us NOW. No auction company will give you a better rate then we will for our "old friends". NOTE: sorry, we can NOT accept coins less then $2,500.00 each unless they are part of a consignment in excess of $25,000.00. Feb is only 90 days away! To consign, contact: firstname.lastname@example.org
FEB AUCTION CONSIGNMENT SPECIAL FOR LEGEND CUSTOMERS: if you have coins you have PURCHASED from Legend (ONLY) we'll offer you a 2 for 1 for our Feb auction. Consign TWO coins you bought from Legend where you paid $5,000.00 each and have one sold-for FREE (115%), the other will be at our highly competitve rates! All coins MUST be approved, two coin max, space limited. Contact Laura Sperber for the details: email@example.com
IF YOU HAVE ANY QUESTIONS OR WISH TO ORDER, PLEASE EMAIL US AT firstname.lastname@example.org . We will not be checking our phone messages until 9 AM Monday. We do check our emails over the weekends.