THE PNG INVITATIONL
THE PNG INVITATIONAL
Really guys? Everyone knows how much we love the PNG-NOT! This time, showing our lack of appreciation for them was too easy. They tried to mimic the PCGS Invitational and failed miserably. First, sad to say, that even though some of the worlds biggest and greatest active collectors (Pogue and Simpson) live within 20 miles, Dallas is just not a coin town (similar to Atlanta). You'd think it would be, but its more then proven to be a place not to hold a show (the ANA had a lackluster show there too). Then there was the location of the show-The Gaylord Convention Center and Resort. It was out of the way and had limited parking due to other far larger events taking place. Once in the show (which was hard to find due to lack of signs) there were less then 25 dealers set up. We witnessed TWO major dealers leave with in hours of the show opening. The PNG should be ashamed of itself. Plus, NGC is simply NOT the draw PCGS is. Last, it was insulting that only dealers could have at the free buffet. That was beyond tacky, anyone who suffered to get there should have been allowed to eat for free. We rank the show as poor and not worthy of ever attending again. The PNG is so out of touch.
Because this show was so small and off beat, it had NO effect what so ever on the market.
Coins definately are selling very well again for Legend. Every day this week we sold at least one five figure coin (the best day-5!). We spoke to a few other major retail dealers who agreed coins are selling-but its not a free flowing kind of market. We all have to realize, the go-go era of 2008 is over. We have Gardner selling, Pogue looming, and a few other collections hitting the market for various reasons (none have to do with needing cash or market worries). It simply is the end of a cycle. No one panicked when Pittman, Eliasberg, Norweb, Bass were sold (all within a short time frame). In fact, we'll step out and say it only lifted the market. People were excited and record prices-including the first million dollar coin were made. We're not so sure why the market is reacting with a little fear and caution this time. Although we do stand by our comments "The Pogue effect" has many people sitting out waiting for those coins.
Legend loves this type of market. We are not fighting the wholesalers or the crackout dealers very hard to get the best coins. They simply do not have the money they used to speculate and or ruin coins. The crack out game has dramatically slow as has coin doctoring. So we have been getting first shot again on the coolest stuff to come to market. We know there are still tons of collectors out there who are aggressively buying. Our Want List is as big as ever. The only problem for us, the supply of really great coins is soooo small and is highly competitve that our margins have slipped to next to nothing! To buy a great coin, we have to pretty much pay over the market.
Enjoy this market like we do. Do not pass up opportunites-especially on the great high end rarities. Your certainly NOT buying at the top! All the great collectors bought today, with tomorrow in mind.
We are thrilled about this weeks NEWPS. Sure, we love all our NEWPS all the time. Thsi week we FINALLY have some wicked nice Dollars to offer. The highlight: a white $1 1895O PCGS MS64 CAC. The last one that came to market was partially toned piece in 2013. This is a gorgeous white GEM! Another cool coin we have is an 1859S 50C PCGS MS66 CAC. Can these get an more stupid cheap? And last we have one of the wildest toned Clevelands (looks like a christmas tree) you'll ever see! None of these coins are being brought out to the Portland ANA Show.
Do not think too long! We expect many of the NEWPS we're posting to be immediate "buy it now" sales. We're not trying to hype, but these are coins with heavy demand and are of full quality. You can trust our descriptions. Sorry, we can't get the images up on most for 24 hours (where we can, we do include the PCGS # so you can see an image on the PCGS web site).
Next week: Bust collectors take a deep breath! Who needs Pogue? Wait until you see what we have!
LEGEND RARE COIN AUCTIONS
Whew! Finally getting caught up from the sale. We're a boutque auction house so having a successful sale with over 100+ winning bidders takes a lot of work to close the week after. Again, we sincerely thank everyone who particapted and congrats to the winning bidders.
Even though our next sale is in June, we already have some outstanding coins consigned. We're not just talking about the incredible Coronet Set of Morgans. Other items include: a complete set of 1858 coins PR65 and higher. an extremely rare 50C 1807 Sm Stars PCGS MS61 0-113a ex Link, and can you believe it this-more wildly colored Morgans! Do know, we are picky and do reject coins for this sale. We've already rejected a six figure coin!
To discuss consigning to this amazing sale, please contact Julie Abrams at: firstname.lastname@example.org
To see the results of our last sale, visit : www.legendauctions.com
IF YOU HAVE ANY QUESTIONS OR WISH TO ORDER-EMAIL US. WE DO NOT CHECK PHONE MESSAGES UNTIL 9 AM MONDAY. email@example.com