Legend Maket Report – JUST ANOTHER WEEK
IT WAS A LONG WEEK FOR US
We are still mourning the sudden passing of our friend Mark Petty from complications from Chrones disease. Last week we skipped Long Beach to attend his funeral. In his memory we promise to keep up the fight against everything thats wrong with this business (coin doctoring/gradeflation/out right crooks) so that when another Mark Petty comes along, they never have to think twice about what they are collecting-they can just love coins with a big heart.
WE DID SELL COINS
Even though we did not attend the Long Beach Show, we did sell coins there. Our stealth team did exceptionally well. They sold soup to nuts-and did get real PQ money of the better coins. Gold coins had only moderate demand, which surprised us.
Interestingly, our crew each reported the show was “empty” of any real dealer presence (translation: the major players who buy). Even old timers were starting to close up early and leave. Much to our shock, we know of a few dealers who did the show their entire career and have finally passed on attending (and gave up their tables). Right now it is a major regional event, not the “must attend” national show it once was. Something seriously needs to be done to reinvigorate the show.
Turns out we did not need to attend the show anyway. In the blink of an eye, we were presented with two world class deals last week. We expect to have some major news to announce next week.
Back in the office we did just fine. Sales off our web site were strong, and sales via Want List and other means were also strong. For us,. September is already shaping up to be a record sales month! We thank our heavy buying at ANA for most of the success, but also collectors know we can be the strongest buyers and do come to us with cool deals.
THE PHILADELPHIA SHOW
Whitman runs some of the best shows, so do not think we are knocking them in that regard. However, we still feel they are totally misguided by having a summer Baltimore and this Philadelphia show now. We would be shocked if attendance was decent by collectors. Dealer wise, there has now been an east/west rift created with the planning of the Philadelphia show always the week after Long Beach. You won’t see many west coast dealers attend. PCGS isn’t showing up. Shame on Whitman, not only is this planning not good for either show, but it is unfair to the collector in that trade is affected and they do not get to see some of their favorite dealers. Long beach needs to improve itself, but they are not to blame for this horrible schedule.
Poor shows create a negative impact even if the market is healthy. Back to back major shows does not allow for any one to breath or for any real freshness to enter the market. Plus, the Baltimore/Philly region is now over saturated with shows. Because dealers are creatures of habit and Whitman can sell tables, does not make it right to hold the summer Baltimore Show or have this show on heels of a Long Beach. A winter/fall Baltimore and a Philadelphia show with better timing would do wonders not only for all involved, but for the market too. Three major shows a year in the same hood is enough! Its time for this Whitman created rivalry to realize it is negatively affecting others and cease.
Our expectations are not strong at all for this show. We probably will not count this shows results (unless a flood of collectors showed up and spent a ton) against how the market really is. Yet, we do wish to restate, Whitman does run the best shows!
And based upon Legends sales for the first 12 days of September, the market is fine.
OUR NEW PURCHASES
WOW! We strongly believe this is one of our BEST offerings to date not connected with a major show. Even though we label this as ANA NEWPS IV, its got a few coins from the ANA show, but there are many listed whos origins are from small private deals. The quality is outstanding! We mention the quality because normally we strive to make sure the quality is great (we have very high standards)-this time its better than that!
We will be posting a Market Report and NEWPS from the Philadelphia Show starting next Sunday.
Please cal or email us with any questions.