Legend Market Report – March Roars in Like a Lion

By Laura Sperber – Legend Numismatics
CoinWeek Content Partner

For Legend, a week of no shows did not mean no business. We blew past  $1,000,000.00 in sales for the month on Tuesday. The way things are going looks like we won’t slow down for along time. We finally have some new and fresh coins in inventory!

LegendLion Legend Market Report   March Roars in Like a LionOur NEWPS from the PCGS Invite were well recieved. Its always our favorite thing to be posted the NEWPS and for collectors to be buying them as we are writing. Coins we sold ranged from $600.00 to $150,000.00. We finally sold two bigger Want List coins too (we haven’t found many Want List coins lately). It was a refreshing week for us. Our February poor sales month was not because of the market (well sort of) it was simply because we could not find the coins we needed. Finding a few coins at the LV Invite then buying a couple of deals, and BAM! We are a selling machine again.

A note about the Heritage NYC Sale this past week. It was exactly how we expected: STRONG! There was a small Type set hidden in it that brought ‘moon money” (example the $1 1873 PCGS PR64 brought $17,250.00-which is FULL PR66 money)! We got blown away on several lots we bid on. Of course the CAC coins ALL sold for VERY strong prices. We did not see anything that “fell thru the cracks”. Legend was the company that bought the PCGS MS66 colored Lincoln for $7,475.00. Its not an MS67, but it sure does have super colors (we saw several off base comments on gossip boards about the coin)!

We wish all Heritage sales could be this size and that they take notice and stop with the monster market crushing FUN/ANA Sales and reduce the number of coins in their auctions to more manageable proportions.

A SPECIAL PROOF TYPE DEAL

Legend purchased a substantial PR Type (Seated and Barber) coin collection. Included are many MATCHED ORIGINAL PROOF sets. We can not over discuss the extreme rarity of the ORIGINAL Proof Sets. So many have been broken up. Finding any intact is a real treat. We’re posting one cool set this week-the 1891 set (see it under 1C listings). It probably will be a week or two before we get the balance back from CAC. There were many single Proof Type coins as well.

A NOTE ABOUT PR BARBERS/SEATED COINS: We think they are still UNDERvalued. Gotta LOVE the fact most have mintages UNDER 1,000. No, we do NOT say this because we have a fresh deal. The coins we bought are highly saleable without us saying anything. We say this because unquestionably as time goes by fewer and fewer CHOICE/GEM coins are available. We used to say ” if its a PR64 and it has a mintage of LESS than 1000 and costs LESS than 1000 its a MUST buy”. Today there are few pieces below $1,000.00. However, 65-68 have become overlooked. We believe ANY PR65/66 BELOW $5,000.00 is a good value and ANY PR68 BELOW $10,000.00 is a great value. Remember, in PR67/68 your taking about a coin that is virtually in the SAME condition as it was say back in 1895 when it was minted. We strongly believe when you find a spectacular colored or cameoed piece it should be rewarded with substantial value potential. Fact: you will probably NEVER see a dozen legitamate PR67 1902 10C (do NOT be fooled by the pop reports)! One last thing about BOTH PR Barbers and PR Setaed W/M, they are both totally completeable sets!

LEGEND BUYS TWO MAJOR REGISTRY SETS

Two highlights of our purchases included TWO major registry sets. One unfortunately must remain priviate, but we can tell you it was a #1 Registry Collection Legend exclusively assembled. The other is the fabulous #3 ALL TIME FINEST 5C Shield Nickel Proof Set from the LAW COLLECTION.

We are proud to have exclusively built the entire Law Collection. It was an unequalled Collection with several #1 ALL TIME FINEST PCGS SETS and rarities (he had the unique 1870S H.10). When the Law collector retried from building his sets, we were able to buy the entire collection (you will never get that buying from an auction and slapping something together). The Shield Nickel set originally we bought and had placed with another collector. Now that collector is ready to move on.

Unlike so many other sets, the PR Shield Nickel Collection is the real deal. The majority of the coins are now CAC stickerd. The 3 coins that did not make it, were  a matter of JA’s opinion. This set is typical of what Legend does. When we build a collection, especially a high ranking collection, we make sure each coin stands on its own merits. Each coin in the Shield set is the epitomy of being TOP quality for the grade and has wonderful eye appeal. You will never see problem coins, messed with pieces, ugly coins, or anything negative in ANY collection Legend builds. This is how come the great sets we build can trade so easily time and time again. We invite you to check this PR Shield  Nickel set out. We did all the hard work!

THE BALTIMORE SHOW

The Spring show and the Fall Shows are the two bigger and better shows. based upon how well we did at a 30 person private PCGS Invitational, we expect Baltimore to be turbo charged-unless gold drops to $1,000.00. There are just so few coins around. We think anyone who does have a decent inventory WILL do VERY well.

The Baltimore Show is March 22-24th. If you can’t attend, watch for our NEWPS to start posting March 25th.

If you have any questiosn or comments, please call or email us (specially over the weekend): legend@legendcoin.com

About the Author:

Laura Sperber is one of the Owners of Legend Numismatics. She is a passionate and outspoken dealer who says what she believes and is a strong proponent of numismatic standards. Since 1987. Legend Numismatics has built an unequaled reputation among casual collectors and avid investors alike by locating and procuring top quality rare coins.

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