THE PCGS INVITATIONAL LAS VEGAS
By Larura Sperber – Legend Numismatics
We must admit, we LOVE Las Vegas shows. PCGS since day one of this new concept has put on a terrific show. Major dealers come in and out as do many serious collectors. The educational forums they offer are the best opportunities collectors have to learn about grading, the grading services, and to ask questions. We’ve seen many a collector chatting with David Hall or Don Willis-you certainly can’t do that for long at a major show. For us even as we are trying to cut down our travel, these are always MUST ATTEND shows.
We could not believe how well we did this show. This time we did only one small sale to a collector (we typically do sell a lot to collectors at these shows). However, wholesale wise, we did RECORD biz! Why? Simple: we had coins-neat coins! There wasn’t a ton of coins made outside of the usual generics. Dealers inventories were very lean coming into the show. No question they came to Las Vegas needing coins badly.
Our secret “first shot” dealer spent $100,000.00 right off the bat and even came back later and spent another $50,000.00! We even wholesaled to dealers we never regularly sell to. What surprised us even more, they paid strong prices to buy our nicer coins. Dealers can be notoriously cheap and usually want dreck. To us, that is a sure sign of dealers needing coins.
When the last invoice was written, we had sold $500,000.00! Which for us was a lot at smallish show like this.
A side note: Back home, we were really cranking off our web site. Our sales back home were also stronger than we expected. A lot of GEM Type sold, follwed by our better gold. For now, we are wiped out of PCGS CAC MS66 Saints too (we’re paying $3,450.00 for PCGS only CAC MS66 Motto Saints)!
A MAJOR SET BACK-NO COINS!
We bought a whopping SEVEN coins-of which 2 are sold to “want lists” back home. This was totally unexpected. We looked at every dealers case and boxes. We could have bought MS64 Saints, but NO Bust Halves in MS65 or even better date Morgans in GEM. No realy cool coins got made that we saw.
When we did find a single coin, the price was way to high for us to stock it (40% over what a similar coin had sold for). We actually spent 1/2 the show contemplating if we should pay that strong a premium for a coin. In the end, even though it was a great coin, we did pass. We felt it was priced at full retail plus for a serious collector (we would have no room left to either wholesale the coin or mark it 10%). But then sometimes you just have to step up and say “oh well” and buy it (now that we are home, we regret passing on the coin). You certainly can NOT go out and buy really cool coins in GEM these days.
Thank goodness we have been buying deals in the office! Still, we worry that we will not find enough coins to keep people happy. But then unlike others, we will NOT skimp on the quality. So bare with us, we are working hard to get great coins to offer.
THE NAFTZGER LARGE CENT COLLECTION
We have just acquired a small 35 coin group of Naftzger coins. The majority of these were obtained by a collector direct from the sale or from us. He is changing his course of collecting, so these had to go.
As you may know, the Naftzger coins are some of the FINEST quality Large Cents that exist. They have NOT been messed with in any way, and are all just GEM ORIGINAL (even if they are not full MS65)! Many also purchased at one of the auctions that had a “perfect strom” and was overlooked (the internet broke down and it was during a holiday). So these are NOT priced at moon money!
As you probably have noticed, not many of these incredible coins have surfaced since the sale. Most are locked away in the black holes called collections. We are pleased the owner chose Legend to handle the transaction.
Legend Numismatics is pleased to offer this magnificent group of coins to all collectors. As you have seen, once these are gone, it will be a long time before you’ll see another group offered. Each coin has Naftzgers hand written flip and is pedigreed on the holder.
The Naftzger Collection was auctioned in 3 seperate catalogs by the Goldberg (w/McCaulley Grellmen) in 2008+2009. We believe this collection will forever remain unequalled.