SUMMER FUN WAS FUN
We do this show because it is quirky. The past 3 shows we have purchased a very big coin-and this show was no exception. We generally have good shows at Summer FUN. The FUN people run and have a great show. The summer show has much more of local flavor, but the big boys pop in and out. We rank Summer FUN slightly BETTER then CSNS (which is a shrinking show). Congrats to the FUN organization for another great show!
Our expectations were to sell $150,000.00. That was sort of like a hail Mary number. Much to our surprise, we sold OVER $300,000.00. Our “super secret stealth seller” did almost $300,000.00 on Tuesday alone (before the show opened). For the show his total was $465,000.00-which was terrific (he left a day early too). Selling was easy. We were shocked. It was not expect to be that way. The summer doldrums are here (the auction was very hit or miss), but no one was complaining. Overall, attitudes seemed positive. Of course we will be taking a table next year too.
FYI: the wicked coin cool we bought: $5 1795 PCGS MS64 CAC Ex Newman (now placed ). We had been the under bidders in the original sale. That is a Legend caliber coin! We also picked up a few wicked cool patterns including a very rare 2C J-52 1836 PCGS PR65 piece (now placed).
Another note, the show was packed Thursday. VERY impressive. Business was being done!
UPDATE: PNG
Love those wild and crazy losers. They are just so cute they had one of their top guys contact a friend of ours to declare they are considering a legal letter to me. Even our friend knew we’d be excited to engage in legal actions. In fact our word to the PNG: BRING IT ON! MAKE MY DAY!
The PNG is so worthless and just refuses to kick out the members they KNOW are coin docs. Shame on the board. Okay, so do the stupidest thing you can think of-go after me instead. Oh the depostions would be so sweet. The public would LOVE to hear the dirt. I think our superstar legal beagle would shread them in minutes and the PNG would be over (he too is a collector who got burnt by coin doctors). .
Hey, can Legend still have a table, we’d like to set up for ANA? Please? Or are you now allowing others and not us? Bad move.
Good PNG members, ask your self what PNG really does for you? Nice dinner once a year? Don’t YOU care about protecting the public? Don’t you care about being in an organization that actually cares and tries to make things better? Last week, we even witnessed one VIP member rip up their membership bill and quit. Why do the honest dealers even stay there only to have their names stained?
I dared them to do something about coin doctoring. They can’t. Just kick a few bad guys out, LOSERS!
THE MARKET
We were shocked at how much we sold at the show. In fact, for a time when it should be really dead, Legend Numismatics SOLD $1,200,000.00+ profitably since July 1. We did not even expect to sell that much all month. A few lucky things happened and we found a few great coins. Our top customers are still starved for coins. We expect our profits from ANA to come from the auctions. Both auctions houses have some really cool coins.
Back at the office we ARE selling coins. Its soup to nuts, but coins are selling off the web site. Of course PCGS CAC gold is the number one item. Again, this is all extremely unusual for the time period. Maybe there are that many smart buyers who know to buy at off peak. If the activity were to stop tomorrow, we’d be just dandy with our July.
We actually have not heard too many negatives so far from other dealers. The usual moaning there are no coins around is something we are now used to hearing.
We expect ANA to be a blockbuster, but ONLY at auction. The ego maniacs are still out there and will still bid recklessly and show everyone how stupid they are and pay beyond moon money shutting out too many people. Yet, they do not buy much off the bourse floor.
We expect bourse floor activity to be moderate. Most dealers now put their best coins in the auctions. So there isn’t much left on the floor but retreads. The glory days of seeing an original set of Stellas (years ago) is over. But if you are a good shopper, you might be able to buy some hidden “nuggets”.
Still, buy all the great coins you are offered today. Know if they were in an ANA sale they could be 10% or more higher! The key is the coins have to be great. Stuff or over graded coins will not work. This is a quality driven market! We strongly suggest PCGS CAC only.
NOTE: how strong i our market today? This was written Friday evening. As of this Saturday morning update, we are now sending out well over $125,000.00 worth of coins from our web site. Its like a dream!
NEWPS
Its mini Trade Dollar week. We are selling a partial set that we had assembled for our partner Bruce Morelan. As a team, he and Legend have built the very best MS TD collection. We were working on a #2 type of set, until he got the bug for another collection to do.
Highlights include:
$1 1873CC PCGS MS64 CAC-The second finest known
$1 1876CC PCGS MS64 CAC
$1 1878CC PCGS MS64 CAC
We will have many other great NEWPS posted by LATE Saturday. We did our best to offer something for everyone! And everything offered is of the highest QUALITY and EYE APPEAL.
UPDATE: We are now accepting Want Lists for Buffalo Nickels, PCGS MS65 and higher 1913-1916. ALL coins are PCGS CAC.
LEGEND RARE COIN AUCTIONS
www.legendauctions.com
We are embarassed-sort of. We can’t go to any show without people talking about the 10C 1938S PCGS MS68+ CAC that brought a ridiculous $364,000.00 in our last sale. Of course we are passing on taking a few Mercs. And we certainly are NOT putting any on the cover of our catalog. That was a perfect storm likely not to happen again.
We are currently working on posting highlights for our upcoming September sale. So far we have some really sweet coins! Soon to be announced: $1 1795 FH 3 LV PCGS MS64 CAC Eliasberg!!! WOW!
If you have coins or a collection you wish to consign, call or email us today! Time is running out. We promise the quality and caliber of this sale will be true LRCA standards-awesome.
We also offer a world class hybrid selling program for coins that just do not fit in our sale. We have many world class out lets we sell too. We can get you top dollar!
Also, Legend and Legend Auctions can handle just about ANY coins on consignment. We’re more then just auctions!
IF YOU HAVE ANY QUESTIONS OR WISH TO ORDER, PLEASE EMAIL US. legend@legendcoin.com. WE DO NOT CHECK OUR PHONE MESSAGES UNTIL 9 AM MONDAY
