Legend-Morphy’s April 11 Vegas Regency Auction III smashes expectations
Headliners: Marshall CC Morgan Dollar Collection, Gerry Forsythe Mercury Dime Duplicate Collection
LAS VEGAS – Legend-Morphy Auctions does it again with The Regency Auction III, exceeding expectations, smashing estimates, and creating several record prices. Held at the Bellagio during the PCGS Members Only Show, aggressive online pre-bidding culminated with two and a half hours of energetic floor, phone, and online bidding during the live auction. “The auction was loaded with outstanding coins consigned by clients who had bought them from Legend years ago. Bidders recognized the opportunity to buy fresh coins and bid enthusiastically,” said Legend-Morphy President, Julie Abrams.
“We knew as soon as the sale was posted to the internet it was going to be strong” stated Legend-Morphy partner Laura Sperber. Sperber’s estimation was spot on and registrations for the sale came in at a record breaking pace. During the opening day of the sale, Legend-Morphy saw 1,748 unique visitors to their website.”Bidding activity didn’t slow until the auctioneer’s final hammer fell,” Sperber went on to say.
“Over 85% of the sale went directly to collectors. They know they can trust the quality and descriptions in our sale,” commented Legend-Morphy partner Dan Morphy. During the 315-lot sale, over 100 collectors participated via LM Live, with 217 unique bidders overall. “Not bad for a boutique firm that was little more than an idea a year ago,” Morphy added.
Total prices realized were $1,984,842.5, with highlights including numerous records:
• Lot 3 – 1C 1857 SMALL DATE PCGS PR66 BN CAC, $24,150.00
• Lot 20 – 5C 1867 RAYS PCGS PR64+ CAC, $54,625.00
• Lot 53 – 10C 1931-S PCGS MS67 FB CAC, $43,125.00
• Lot 130 – 50C 1893 PCGS PR67+ DCAMEO, $17,250.00
• Lot 154 – $1 1878-CC PCGS MS67 JACK LEE 2, $57,500.00
• Lot 156 – $1 1879-CC PCGS MS66 JACK LEE 1/JACK LEE 2, $161,000.00
• Lot 171 – $1 1890-CC PCGS MS65+ CAC, $14,950.00
• Lot 177 – $1 1799 PCGS AU58 CAC, $25,300.00
• Lot 230 – $1 1934-S PCGS MS66 CAC, $29,900.00
• Lot 283 – $1 1900 LAFAYETTE PCGS MS66 CAC, $21,850.00
According to Abrams, “the Marshall CC Collection and the Forsythe Mercury Dime Duplicate Collections were without question the highlights of the sale. The Mercury Dimes performed exceptionally well and though we expected the Marshall CC Collection to have a strong showing, we were shocked at how many price estimates it smashed.” The 1879-CC Morgan Dollar PCGS MS66 Jack Lee 1 / Jack Lee 2, which had been sold by Legend into the Marshall CC Collection for $90,000 in 2007, was anticipated to bring “moon money,” and it didn’t disappoint. The CC Morgan brought an impressive $161,000. Another favorite was the 1867 Shield Nickel w/ Rays PCGS PR64+ CAC, which had an early estimate of $37,500. The rainbow-toned nickel brought $54,625, bringing well above estimates. All prices realized are posted on the Legend-Morphy website: http://www.legendmorphy.com.
The next Legend-Morphy sale, The Regency Auction IV will be held Thursday, July 18 at the PCGS Members Only Show at the Bellagio in Las Vegas. They are now accepting consignments.