Legend Numismatics Coin Market Report: THE HOUSTON SHOW
This show is really Legends “escape show” more so then any other including our beloved Las Vegas Shows (lately they have personally cost us too much if you know what we mean). We LOVE the hotel-the Hilton of the Americas (of all the shows we do its our favorite) and last show we flew on the 787 Dreamliner. This year, we had seats that faced backwards (that was really wierd). Its a different kind of show to attend. We never have any real expectations.
This year, the show was VERY small, probably smaller then normal. Most major dealers stayed home. THANKS GUYS! Legend had by far its BEST show EVER in Houston. We are completely shocked at how much selling we did-but then no else had the really high end and CAC inventory there like we did. Since retail was non existent, ALL our sales were WHOLESALE. Our crack in house sales staff had other things to tend too, but could not stop making 10, 20, and even $60,000.00 single coin sales!
Everything sold. Dealers still needed coins. Retail overall has NOT slacked off. Sadly, as hard as the Houston Show staff tries, its just not quite a coin town. We have never been to a show there where the place was rocking. But, we like it and we’ll keep coming down!
Here is a quote from a real email we got from one of our bigger customers today: “Is it just me or u have a record low number of coins on your website … Not just gold everything?”
Yes, this is TRUE as can be! We cannot keep great coins stock. No hype, this year Legend is going to sell OVER $50,000,000.00 of coins-and that does NOT include auction representation. Maybe 1/3 of what we handle makes our web site. It is typical for us to post 30 coins late Saturday night and have 7-8 SOLD by noon Sunday with a significant group sold by Tuesday. Our turnover IS that quick and we do sell that many coins. For the past several years, inventory replenishment has been our biggest problem. We will NOT sacrifice quality for quantity, so hence, smaller offerings. September through the middle of October was bone dry for us.
This past week we spent OVER $2,000,000.00 and finally got some neat stuff that has been off the market for a few years (its weird how cool stuff seems to come to us in Decembers). Half of it is already spoken for (we don’t have Want Lists for everything)! Surprinsgly, there was NO 20th Century gold (thats a HUGE area too), NO PR Gold, no Morgans or Peace Dollars, and no Early Bust coins. by the time we get all these coins imaged and beaned, we’ll probably only have 1/4 of these purchases available. As we’ve have said all year, we have real Want Lists in excess of $22,000,000.00!
The FUN Show is coming up with its gigantic auction. You watch, the market just absorbed all $23 Million of Newman without a hiccup. Heck, one of the biggest spenders in Newman called us the Monday after and bought a five figure coin from us! Watch the market devour another $45 million FUN auction. Then, after FUN there is that crazy Missuori Cabinet of Half Cents. We’ll give you a dirty little secret on that: we’re coming in mega loaded to play there! We wish we had a chance to buy the entire collection! If you thought the Newman coins brought crazy money, the Missouri Cabinet coins will be INSANE ASYLUM money!