WELCOME TO SPRING!
FINALLY SPRING TIME!
For us its the day after. We're cleaning up after a "white out" that left us with 6" of thick Norman Rockwell picture like snow Friday. Thank goodness its officially spring time now! Now its time to get back to what we all love best-collecting coins.
As expected last week was very quiet. We did not have any blockbuster deals and certainly no one offered us anything special. We normally flip out when weeks are like this, but this time we needed to catch up from the first two weeks of March and prepare for the Balitmore Show next week.
We're not sure how active the upcoming show will be. Dealers are still cash poor, we have not heard of strong all around collector demand, and everyone at the upper end of the market is just waiting for Gardner and Pogue. Don't get us wrong, there are still many areas that have legit strong activity, but overall, its quiet. One thing we can say for sure, in ALL areas, there is a major lack of supply. None of these upcoming auctions will be much help as its safe to assume most of the coins will go directly off the market. Things are very different in the coin market from what they were only 4 years ago.
One thing is for sure, there are some opportunities right now to buy great coins!
A WORD ABOUT OUR MARKET
One thing Legend will never do-is put quantity ahead of quality. To buy the very best coins like what we offer, we have to pay top dollar-REAL TOP dollar. Lately we have had a few people think we're too expensive or see non comprable coins posted somewhere else cheaper and question our pricing. We assure you, for the quality we offer, few others have comprarable coins. If we see a GEM Proof Barber Quarter in say PR67Cameo with tons of contrast and color that blows everything else away-we're going to pay what it takes to buy it. Time after time, owning coins like that (killer quality and eye appeal) have proven to be the most profitable for our customers.
You can NOT compare a NON CAC coin to one that is CAC. You also can NOT compare the value of a PCGS coin to NGC (more then proven by what prices realized at the FUN Auction). And you must understand there really are and can be huge price variations in the same grade. Every coin is different! Eye appeal plays a HUGE role in determing a coins value. Besides, in this day and age, if your offerd a non cac coin you have to wonder why? There is no question that CAC coins bring more and no dealer worth their salt would leave money on the table!
We use VERY low mark ups most times because we have to pay so much. We are very realistic sellers. Beating us up on prices does little good. Plus, when we're working really close, we do post "the coin is listed at its best price". One thing we never ever did or will do is play games with our pricing.
What we handle can not be replicated in most cases. Even in soft markets, top of the line anything still carry premiums. That is why, when a special coin comes up for sale, we'll still pay a record price. The collector who buys the coin from us needs to hold on to it long term and WILL reap strong rewards down the road. The rare coin market never has and never will meant to be a trading platform. There is nothing to fear about paying up for quality in todays marketplace. Just make sure you have the true quality. We know we supply it!
TIME TO START PLANNING FOR THE BIG AUCTIONS
Gardner III and Pogue I are now LESS then 90 days away. The day after the sale is not the time to think about selling your dupes to pay your bills. If you have duplicates or other coins/collections you wish to sell-do it now (at least start the process). Your probably not going get record prices in this market, but you also so not want to miss whats coming up. In the end, even if you lose a little today, your more then making it up wiith the better coins you will buy. Several bigger players started the process the day Pogue was announced.
Also, start thinking about representation. Big bomb shell-the Pogue coins are now NOT CAC'd. Even though most of the coins are crazy sick quality, you really do not want to be the person to buy the one thats 'not all there" or pay a record price for a coin with a light cleaning or an issue.
If you would like representation in either sale, please contact us as soon as possible. We can only work with a limited group. These sales are not far away!
WE'LL BE AT TABLE 643 AT THE BALTIMORE SHOW. STOP BY!
We have a handful of NEWPS this week. Just about each coin could be a highlight. We'll spotlight some of the biggies (ALL ARE CAC):
1C 1840 PCGS MS65RB LG DATE NAFTZGER (this coin is gods gift to 1840's), 10C 1876CC PCGS SP 66+BM CAC (THE REAL FINEST KNOWN PROOF), 25C 1853 NO ARROWS PCGS MS67 CAC, $1 1798 PCGS AU58 SM EAGLE EX Cardinal Legend, and last $1 1846O PCGS MS64 Ex Legend Collection. Are these coins WOW's or what?
The blow out MEGA MONSTER NEWP-The Simpson Collection of MS Seated Half Dimes! Yes, this is the set we started for the Law Collector over 20 years ago. It is by far the #1 set on the PCGS Registry. No, Simspon is NOT cashing out, he is pruning. For sure, this is a once in alife time offering!
Of course we have several other wonderful NEWPS offerd as well. Do not forget to check out our regular inventory-we have some of the best coins on the market! We will work hard to get you into the coin of your desires.
LEGEND RARE COIN AUCTIONS
STOP BY TABLE 643 AT THE BALTIMORE SHOW TO SEE SESSION I AND THE 1893S $1 PCGS MS67 CAC OF THE CORONET COLLECTION OF MORGANS!
All we can say is WOW! We receieved a small group of high grade multicolored PR Morgans that have toning every bit as monster as any bag toned MS pieces we have ever seen. It was so hard to to put these coins in the safe for the night. We're getting wicked awesome consignments like that right now for our June sale. You certainly should put your coins in this select sale too!
We are being selective for this special sale. If you get us your coins coin today, we promise to heavily promote them and they will not be lost in any phone book size mega sale! Plus, Legend Auctions enjoys the customer base of Legend Numismatics-the premier coin retailer in the world!
If you wish to consign, contact Julie Abrams at julie@legendauctions or see her at the Baltimore show.
To see some highlights and for more information visit: www.legendauctions.com
IF YOU WISH TO ORDER OR HAVE ANY QUESTIONS, PLEASE EMAIL US: email@example.com. WE DO NOT CHECK OUR PHONE MESSAGES UNTIL 9 AM MONDAY.