Legend Market Report – The PCGS Invitational

THE SHOW FROM HELL!

No, PCGS was not the problem. First, we had some biz to do in the Dallas area and flew in Tuesday at 11:30 AM. That flight was not fun with all the massive T-Storms in the area. Being real close and personal in a plane with a 40000 ft T-storm cloud top right next to you is no fun. Got to the hotel made a quick change and off to the appointment. Got on hwy 183 and all of the sudden a huge thick black cloud started coming directly at the car. Thank god the cars in front stopped under a bridge. We had to stop. A tornado rolled within a few yards of the bridge. A car or two that tried to go got blown off the road-we’re not just talking a few feet. The humidity was seriously 100%. On the back side of it was hail so big and powerful it clipped the car up. Every hail stone was baseball size and would make a horribly destructive crash noise when it hit. We do not see hardly any tornadoes in NJ so it didn’t seem like it would be such a big deal-NOT! We highly suggest you take ANY tornado warning seriously. It took two days to stop shaking from it!

As if that adventure wasn’t enough, got in to LV a little late (American cancelled so many flights it was a disaster getting out of Dallas). Got to the show and Laura started feeling really dry and coughing. Bang! Thursday she was in the hospital with major bronchial/respiratory problems. Interesting that leaving Dallas with nearly 100% humidity and then hitting LV that was so dry it sparked a major bronchial seizure. The good news is “only the good die young” so Laura is alive and is expected to have along recuperation before getting back to her same old self!

Needless to say we did not pay much attention to the show.

This was a real road report!

WHO SAYS THE MARKET IS BAD? LEGEND BUYS AND SELLS THE #1 PCGS PROOF SEATED 25C COLLECTION!

Legend Numismatics is proud to announce the purchase and sale of the #1 all time Proof Seated 25C Collection: The Greenwich Collection 1858-1891. What an amazing set. It took the owner over 15 years and many, many replacement pieces to get the set to near perfection. Included are coins like the 1891 PCGS PR68 Cameo is probably the FINEST PR Seated Quarter that exists and a MONSTER COLORED 1880 PCGS PR68! Just about all of the coins in the collection were top pops. His only reason for selling: he could not improve on it much anymore. He was thrilled to death that the set went to a collector who will not only keep it intact, but will treasure it as much as he did. Many congratulations to him for the incredible job he did. This is was not as easy of set to complete as you think. Remember, this was a collector (with the resources to do it)  passion for 15 years! We saw him spot a tear as the set left his house.

This is the kind of #1 set we love. We did contribute a significant amount to it, however the owners quest for the best  and most important EYE APPEALING coins is what we wanted.  The color coins in the Greenwich set are some of the most amazing you will ever see! This set was well worthy of being #1-it was NOT a plastic ego slapped together set. The price we paid him was pretty much what he would have gotten via an auction-maybe even a little more! We NEVER look to buy great collections on the cheap. We saw value in his work of 15 years and did factor that in. Over time the new owner has agreed to let us upgrade the set if better coins ever come along.

Since its so damn hard to built great sets any more. We have seen a new breed of “super collector” emerge. They buy complete sets. The hard work is done. We have seen this phenomena get stronger over the past year. With people paying $4-$10,000.00 for hyper inflated mass produced Modern Proofs, the smart monies now see sets like this as bargains.

A note: Legend LOVES to BUY top sets (or partial sets)-the coins need to really be all there and meet our standards. We have looked over a few #1 sets and passed with because the owners were smoking crack while quoting a price, or the sets were not nice (including a few big named sets). QUALITY is extremely important and it is what allows you to get a premium for a complete set.

With the purchase of the Greenwich Collection Legend has kind of hit a milestone. How many other dealers can say this: Legend has exclusively built 10 #1 Registry sets (ALL major Collections) that are in the PCGS HALL OF FAME side. That’s JUST HALL OF FAME! Out of 40 or sets listed! We have at least  4-5 MAJOR collections that will soon be completed as well that will surprise many people and will easily make HALL OF FAME. Plus we never really stopped to see how many total 1-3 ranked sets we exclusively built  that are listed on the general registries. Keep in mind, on the non gold Simspon sets, we built for OTHER collectors first!

You do NOT have to be a superstar player or do a #1 set for us to build you a great set. Building nice sets in 64 or higher is what we live for! If all these other dealers are so great, where are all the sets they built??? Many of the major dealers won’t even handle CAC coins. When Legend exclusively builds a collection, dealers fight over them for first shot and collectors too know they can trust the quality. Generally, we do not break up the collections we build. It hurts too much as they really will never be replicated.

NEWPS

Because of the limited show and heavy travel week, our NEWPS too will be limited. The highlight by a mile is the wildest, greatest, and most monster colored 1914 Proof set we have ever seen! ALL PCGS, ALL CAC! There is also a beautiful 1C 09S VDB PCGS/CAC MS66 back from a collector we sold it to years ago! Its still in its old green tag holder. There will be other great coins as well.

This week we plan on lot viewing the Heritage CSNS Auction. Please discuss any representation with us by the end of the week.

THE CSNS SHOW

We will have a table at the regular show-NOT the empty, arrogant (invitations only–really?) PNG Day. Stop by and see us. We hope to be able to bring VOTE FOR LAURA buttons. We want everyone to wear them at the ANA Show to get them kick started on changes!

HAPPY HOLIDAYS TO EVERYONE FROM LEGEND!

About the Author:

Since 1987. Legend Numismatics has been building an unequaled reputation among casual collectors and avid investors alike by locating and procuring top quality rare coins. Exceptional coins are always in demand - and we believe you should never settle for anything less than the highest quality coin at the best possible value.

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