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Posted: September 21, 2009 08:54 AM CST
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LEGEND BREAKS SALES RECORDS!
OUR MARKET REPORT IS COMPRISED OF LEGENDS OBSERVATIONS AND EXPERIENCES AT THE SHOW AND IN OUR OFFICES. KEEP IN MIND, OTHER DEALERS WILL HAVE DIFFERENT OPINIONS AND EXPERIENCES.
HOW IS THE MARKET?
We can only answer this question based on what we do and see. Last week, Legend did a record $1,200,000.00 in sales! No, this is not hype, fluff, or even WHOLESALE transactions! The time frame was Monday 9/14 morning until Friday afternoon 9/18 4PM EST.
Apparently it seems like people are back to work and that they also feel better about the economy. ALL LEVELS of buyer were present. We also had SEVERAL "middle layer" buyers come back who we haven't seen or heard from in the last year or so. Included in our sales figures were the following:
40 coins from the Naftzger Sale-many of which SOLD Monday by word of mouth. At least a dozen of the coins were worth over $10,000.00. Many people heard the "buzz" after the sale as to how spectacular these coins are. They realized this is really their only shot at adding some to their collections. We did two low six figure sales of the coins and we expect to sell the balance of them by the end of the month!
We sold the #2 PCGS MS Peace Dollar set-the Legend Collection. We believe the currently listed #2 set to be inactive (this set is actually listed as #3). Highlights of the set are: 1921 PCS MS67, 1923S PCGS MS66, 1924 PCGS MS68, 1924S PCGS MS66. When it takes us years to build a phenomenal set, we hate to see them broken up. We are always the BEST customers for the incredible collections we build. We also make two markets in ALL the coins we sell too.
Two "secret" classic rarities were sent ot us, we bought them, then made one call and sold them! One coin was worth $100,000.00. Later on we will release the information on what these two very cool coins were.
Close to six figures of the McClaren coins were sold-and the average cost of a coin there was $415.00!
Many may have noticed we wlso had a lot of coins worth between $3,500.00 and $10,000.00 disappear (which means SOLD right away) off our web site.
Sorry, we can't be any more specific then this. However, one very interesting note: we did retailed only ONE Gold coin.
Add to this how strong the auctions did at the Long Beach show and from our point of view, our market is very healthy. Real simple, NICE COINS ARE SELLING FOR NICE MONEY. If you have junk or low end coins, good luck! Thats the stuff that has crashed the worst and shows no signs of awkening.
THE PHILADELPHIA SHOW
This a brand new show. Our only expectations about it, there will be more dealers there than Long Beach, thus it should be a better show. Its run by the same folks (Whitman) who run the highly successful Baltimore Shows. We are not quite sure how the auctions will do, but as usual we see many "retreatds" in the catalogs so we doubt you'll see blockbuster results like the Holmes or Naftzger Sales brought.
Legend will attend the show through Saturday night. We will have a huge display of coins (the LV Collection of Gold $2.5 Indian set all coins PCGS MS65 will be there), a huge group of MCCLAREN coins, and of course selections from our regular inventory. If you attend, come by and visit us at our tables 514, 516. Of course wel will have a FULL Market Report about the show posted by next Sunday night (along with any NEWPS).
NEXT UP, COINFEST! OCTOBER 9-11TH.
Yes, we are partners in this show. It was Jon Lerners dream (Scarsdale Rare coins) and our desire to create an unparalled regional retail show. We hold it in a very nice hotel in a great affluent area just outside of NYC (Stamford CT).
If you have attened the show in the past, you will notice we do our best to give dealers table who actually DO deal with the public and have nice displays. Jon and Legend are NOT in this show to make money, we just want a great venue that will be good for the market. Until we are fully satified with the shows success, every dollar we make of profit will go right back into the show. After that, we plan on donating monies to several worthy numismatic causes.
You really should attend if you can. This year we have a special feature: Our good friend John Albanese wil be doing a Q+A at 8:30 Saturday morning. Do not miss it! Here is your chance to ask him any questions you might have about CAC! And remember, at this show only CAC will accept up to 20 coins from COLLECTORS ONLY for FREE submissions (CAC requests you be patient. Last year they got swamped).
A SPECIAL NOTE TO LEGEND CUSTOMERS (ONLY THOSE WHO HAVE BOUGHT FROM US IN THE PAST)-Please contact us concerning CAC submissions at the show.
If we don't see you in Philadelphia, maybe we will see you at COINFEST (Nov 9-10) in Stamford CT. or check our web site for NEWPS starting next Sunday night.
Have a great week!
We will do a FULL Market Report next week including what is HOT and what is NOT.
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