FIRST FALL REPORT!
WHAT A LONG DRY SUMMER!
Can't really say there was any heat in the market this summer (although we certainly experienced several hot spots). It was more like a long hot drought. There were few coins and few buyers as well. Now that everyone is back to work, at school, and there is no more beach weather, things are slowly starting to make a come back. The key word though: SLOWLY. Its hard to get re-excited when most of what you see is retreads or dreck.
Our full revival started last week. We do not count finding Want List coins (which recently we have found a few) as anything because those are pretty much done sales once we have the coin. Since September 15th we haev done mutlple six figure sales. Several of them were completely unexpected. We currently have several larger sales pending as well. What we need our sales to be per week for them to be considered strong-would be any elses month!
This past week we went to Dallas to do some lot viewing. We ended up doing TWO six figure deals with COLLECTORS (no, Simpson was not one-in fact we saw him and got a speaking too about why we aren't finding him the coins he wants)! Anyone have a $10 1910S or $10 1911D PCGS MS65 CAC????
Still, we see today as mostly a buyers market. Dealers inventories and cash flows will take another 30 days or so to really heal. In October there will be plenty of chances for the market to move forward/regain strength. Starting next week with the PCGS Invitational and ending with the famous Whitman run Baltimore show.
Collectors are all whipped up due to the fact there are THREE major sales within the next 45 days. #1 Our Sunnywood/Simpson colored dollar set, #2 The fabulous Gardner set, and #3 More Newman. Who knew he had gold? With sales like these interst in coins will dramtically grow again. Due to the fact there will be only one winner of each lot, usually collectors who have a saved up wad of cash for these sales and get shut out, go out and spend it quickly (typically). Thats why in our very strong opinion, the market will strengthen dramatically in the next 30 days. If it doesn't happen, we'll just skip fall and be right in winters deep freeze!
THIS WEEK-THE SUNNYWOOD SIMPSON SALE!
This Thursday October 2nd starts what we will call auction season. We're opening with the famous Sunnywood/Simspon Colored Morgan Collection-the FINEST complete collection ever assembled! Hard to really believe that an 1880S and a 1881S are two of the major highlights. We excpect both coins to sell for world record prices (as of this writing the 1881S is already bid at a record $24,000.00 HAMMER)! And just to show there is still plenty of big $$ around-watch what the 1893S $1 sells for. This is the first PCGS MS65 to ever be sold at auction! NOTE: If you are planning on spending any signifcant amount in our sale-please contact us Monday!
A sale like this this-loaded with FRESH and true QUALITY coins DOES indeed spark the market.
Of course the month ends with Part II of the Gardner Sale. We have already lot viewed. We are positive most collectors eyes will be focused on those coins. Like Round I in Gardner, if you are not thinking record prices-your going to be in for a shock. In the first sale we bought 20% of what was offered. To do so, we did not go by too many published prices. WARNING: we're coming in guns drawn for this sale too (suggestion-talk to us now if you need representation, we have seen the coins)!
The Gardner sale will also add spark to the market. Not just in prices realized, but in the fact only one collector can will a coin. After the last sale we found there were so many collectors shut out, they came back and ferreted out things to buy teh week after (which also happened to be when the Baltimore Show took place). The same scenerio (the Baltimore Show ) happens this time too! So any left over coin cravings can be fed!
Due to the fact the majority of our team will be in Las Vegas to do the PCGS Invitational and our auction, we're putting up a handful of NEWPS. The highlights of this weeks offerings include: J-473 5C 1866 PCGS PR66 Cameo CAC Ex Bass ANA Museum. We have been sitting on this killer masterpiece because we really struggled with offering it for sale (our financial partner reminded us we were in business to sell). Also, J-1356 20C 1874 PCGS PR65 Cameo CAC. The other major highlight is G $1 1877 PCGS MS68 old green tag. WOW!
Keep in mind, check our regular inventory as well-we have offered over $1 million in FRESH NEWPS in the past 2 weeks! There is much more to come that will blow you away. If we don't see you in Las Vegas, you definately want to see our NEWPS next week starting Sunday night!
As you well know THURSDAY is the big day! Be prepared. We suggest you register now-so if you have any problems we can work them out. If you are planning on spending a substantial amount, we also request you contract us now so we can clear you to bid. A last minute rush does no one any good. Please contact Julie Abrams at: email@example.com.
Lot viewing will be Wed starting at 1 until 6. Then all day Thursday until the sale starts. Please note, the sale will start at 5 PM PST. We expect the Sunnywood coins to start at 6 PM PST. We will break in between the sessions. If you are bidding on line and have critical questions, you can reach us before and during the sale at 732-233-0719 (please call during the sale ONLY if urgent important).
Session I is comprised of 1C-$20, general numisamtic fare. We expect it to last a little less then an hour. Session II is the Sunnywood Simspon Collection. That should start at 6 PM PST. Even with massive bidding, we don't expect the Sunnywood coins to take more then an hour and half to two hours.
This will be a historical and record breaking sale. We wish everyone good luck! We thank our good friend and long time customer, Bob Simpson for entrusting Legend Rare Coin Auctions with the sale of this extraordinary collection. Also, a shout out (and woof) to the Sunnywood Collector himself-for his efforts in not only building a great set, but in helping us catalog the coins.
Even if you do not collect Morgans, you MUST see these once in a life time coins!
To see the auction, please visit LCRA web site: www.legendcoinauctions.com
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