END OF OCTOBER MARKET REPORT

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.

HAS LEGEND GONE LIMP?

What a boring month October has been for us. Sure, the first week we sold over $1,000,000.00, then it suddenly got quiet, illness hit the office, we haven't bought anything major this month, and now this week we are wondering what we can do.

Besides one or two cool coins (like the 1C 1793 PCGS MS63BN or $10 1799 PCGS MS64) we have not handled that many great wonder coins in the past 60 days as we would normally. The coins are just NOT out there. We have done everything we can do to shake things loose. Take our word on it, we will pay more than anyone for the coins we really want (and in most cases, thats even more than some collectors think is the norm).

Last weeks Heritage sale that just took place had few coins that were exciting. We spent 1/4 of what we typically do. The other 3/4 we got blown away on-and it was really just stuff we were bidding on! Just look at these prices realized:

5C  1905 PCGS PR67 CAMEO POP 1  $16,100.00
H.10 1847 PCGS MS66 $3,220.00
10C  1903 NGC PR68   $12,075.00
50C  1910 PCGS PR67 CAMEO  $10,925.00
50C  1941S PCGS MS66 CAC $2,070.00
$1   1881 TD PCGS PR64 CAC $5,175.00
$1   1898 NGC PR67 ULTRA CAMEO $19,550.00

THE CAC GOLD COINS WERE ON FIRE!

$2.5  1854 PCGS MS63 CAC $1,840.00
$10   1800 PCGS AU58 CAC $27,600.00
$10   1932 NGC MS65  CAC  $5,462.50
$20   1909/8 PCGS MS65 $35,957.50*  NON CAC
$20   1923D NGC MS66 CAC $4,321.00
$20   1924 PCGS MS66 $3,335.00* NON CAC
$20   1928  NGC MS66 CAC $4,312.50

As you can see, there was VERY aggressive bidding. Sure , this is only a small representative of the sale-but it proves there is still a strong market for QUALITY coins. Inferior coins sold very cheap. We can not stress enough how QUALITY is everything these days. Quality does NOT mean a coin in a high grade holder. It means the coin is not messed with, has killer eye appeal, and is technically all there. We do not care if our rants on quality are a broken record, too many people still just do not get the point until its too late.

We are VERY frustrated at the amazing lack of cool coins to buy. We wonder if we are going to have to rename Legend, GEM Widget World soon! We're doing everything possible to buy the BEST and most exciting coins on the market. So we will appeal to our customers now, maybe you have a coin thats special and we can buy it? Here is a list of what we need:

ALL COINS MUST BE PCGS AND CAC'D NO EXCEPTION (UNLESS MENTIONED)

ALL AU50-MS65 PRE 1800 MS TYPE MUST BE PROBLEM FREE
ANY MS65 AND BETTER BN-RD HALF CENT
SEVERAL PR65RB AND FINER LINCOLN CENTS
ANY PR65RD OR FINER 2C PIECE
5C 1914 PCGS PR67 
10C  1900+1912 P/N PR66 MUST BE CAC'D. we will pay $2,500.00!
MANY PR 67 BARBER 10C-50C
THE FINEST KNOWN MS MECURY DIMES
ALL BLAST WHITE MS65FH AND BETTER PCGS ONLY STANDING 25C
ALL MS65 AND HIGHER BUST HALVES
THE FINEST KNOWN MS WALKERS  (WE WILL LOOK AT ANY BLAST WHITE EARLIER DATES IN GEM)
ANY MS 64 AND HIGHER BUST DOLLAR
ALL MS65 AND HIGHER MS SEATED DOLLARS
ALL MS 65 AND HIGHER TRADE DOLLARS
CERTAIN FINEST KNOWN MORGAN DOLLARS CALL WITH WHAT YOU HAVE! 
ALL PCGS/NGC PR65 AND FINER GOLD
ALL GOLD DOLLARS MS66 AND HIGHER
ALL FINEST KNOWN $2.5 LIBERTY GOLD PIECES
ALL $2.5 MS65 AND HIGHER INDIAN GOLD
ALL $3.00 MS64 AND HIGHER GOLD
ALL $5.00 MS65 AND HIGHER INDIAN GOLD
ALL $10.00 INDIAN GOLD MS64 AND HIGHER
ALL $20 BETTER MS64-67 SAINTS
ALL MS66 CAC ONLY NGC/PCGS SAINTS. WE ARE CURRENTLY PAYING $3,400.00 SIGHTUNSEEN! WE WILL BUY 100 TODAY!!!! CALL TO CONFIRM.

LEGEND IS THE #1 MARKET MAKER IN PCGS MS67 SAINTS. WE WILL PAY $11,500.00 FOR ANY PCGS CAC COIN SIGHTUNSEEN. Sorry, we do NOT buy non CAC PCGS pieces. We also are paying $8,000.00 for any NGC NON CAC MS67-but it MUST have some color. We WILL pay more for MONSTER CAC coins either service!

ALL FINEST KNOWN PATTERNS! We do NOT want crappy R-7 Standard Silvers. Get us GEM Amazonians, 1877 coins, Uniure early patterns in great shape, IE: the real stuff! NO ONE IN THE WORLD PAYS MORE THAN LEGEND FOR PATTERNS. Remember, we are exclusively building the ultimate collection of them! We also have many of the top Pattern collectors as customers.

Legend badly needs a PR67 or finer Ultra High Relief! Anyone have one? Have to ask, you never know!!!!
 
An FYI about pricing, we try to figure all really rare monster coins at what we'd pay at auction. Example, you may have a R-7 Pattern that lists in the Judd book at $12,000.00, that does not mean its worth $15,000.00. We may be able to buy similar ones for $10,000.00 all in. If so, and if you have the real deal quality wise, we'd probably stretch to $11,000.00. Ditto for anything else. We are NOT looking to "rip" any coins. Without the coins, we do NOT make money! but do realize, because you bought something you perceive as rare or paid top dollar in an auction, does not mean we view the coin the same way. Recently we have had several people offer us what they believed to be finest known sets that they paid too much for or the coins would not CAC-now why would we want to pay top dollar dollar for those? Legend is absolutely a PROVEN legitimate major buyer.

We will buy outright, trade, or take on consignment your coins. We'll even pay you in gold bullion. But be assured, we WILL pay full auction money to buy the best! Lately we have been taking many "dreck collections" on consignment as collectors are scambling to get out of their junk. We take a small one time selling fee unless you are buying coins from us with the proceeds. We'll do that to help any collector, but now we need help in finding the real stuff! Call, or email us with what you have.

Legend DOES buy NON CAC coins, but do note, if they have been messed with, you will probably NOT be happy with the price we quote.

Take the fact we are desperate for neat coins as a major statement about whats available. We can NOT find hardly anything-and we have incredible sources all over the market! Thats why if you see something you like, do not be afraid to buy it now. The ONLY real inactivity in the market is happening because there is nothing cool to buy. Junk costs everyone money and most of it is still searching for levels or a place to go. Just look at what happened back in Septemeber when the Goldbergs held the major copper sales. Demand and prices went KABOOM! There has been nothing around since then!

GOLD

Everyone seems interested in gold again. The premiums on the Saints and $20 Libs have readjusted down to sensible levels and people seem to be buying them again. We must have a dozen people who are starved for non puttied gorgeous gold (CAC'd). This is a fact: the supply for CAC gold is so thin that last week TWO world class major telemarketers had their people call DEALERS (not their customers) and had them buy ALL the CAC coins they could. We know of one dealer who had low six figures in stock and got cleaned out! We had a dealer come in on Friday who we thought was going to sell us some good CAC gold-not only did he have very little, he was hoping we could sell him gold! He ended up buying TWO double row boxes of McClaren coins at FULL RETAIL plus!

We are very comfortable in certain areas of gold. Generic wise: We have always loved MS66 Saints, MS64/65 $10 Indians. $2.5 and $5 MS64 and MS65 Indian gold. Do note, we strongly advise you ONLY buy CAC'd gold on ANY coin OVER $5,000.00-if you are unsure of your grading abilities. Its scarey how many coins have been messed with. CAC is causing a huge spread between their coins and NON CAC coins (FACT: MS66 Saints, NON CAC PCGS pieces last week were BID at $2,800.00 while CAC MS66 PCGS coins were BID at $3,500.00). Also, just look at the Heritage sale-CAC NGC MS66 Sainst were selling for $4,300.00!!!!!

Ever since gold broke $1,000.00 its important to know that the run up has been by traders, NOT sheer demand for bullion or coins. Last year, when the premiums jumped over night and it cost $50.00+ over spot to buy even a K-Rand and you had to wait months, that was demand. Today, those levels are back to normal and as we've been telling you, the premiums on the genric prices have come down too (which is unheard of in a rising market). Apparently, people are comfortable again, and the major telemarketers all of the sudden are doing HUGE business in generics and are even seeking rare coins. It will be very interesting to see how the next few months will play out with gold.

THIS WEEK

Legend will be short handed in the office. We are sending Jose to do the HI State Show. Don't think we all aren't jealous! Since carrying space is limited, if there is a coin in inventory you wish to see, please tell us by Monday so Jose can bring it.
 
Legend has heard many great things about the HI Show over the years. We are happy to have been able to participate and look forward to a great show! And please, email us if you see Jose on the beach when he should be at the table!!!!

A note: packages maybe a little slower in shipping this week and the parper work we need to do may fall a day or two behind.  

PLEASE CALL OR EMAIL US WITH ANY QUESTIONS.

One last note: Since this is football season, we will NOT be putting up NEWPS (unless its after a major show and we have tons) until very LATE on Sundays. ALL NEWPS will always be up by noon the following Monday. Sorry, we're football fans! P.S. Yes chatroom weenies, we did BAN RYK for this week. it is HIS fault the Vikings lost to the Steelers.