Legend Numismatics Market Report : The Coronet Morgan Dollar Collection
By Laura Sperber – Legend Numismatics ………..
THE CORONET COLLECTION
This past week we were proud to help a lifelong collector culminate his collecting dream: he completed what is now the current #1 Morgan Dollar set on the PCGS Registry and #2 set all time (behind the late great Jack Lee). A huge congratulations to the owner of the Coronet Morgan Dollar Collection. He unseated a set that has been #1 for 10 years! We are thrilled and deeply honored to have worked exclusively with him.
We promise you, this is not your average white set of Morgans. EVERY coin was hand selected. In fact, a world class major grader (John Albanese of CAC) who saw this said said it best: “crack these coins out and put them in capital plastic holders. They will still bring more than any others”. To have something like that said is awesome. We can tell you when PCGS was reviewing his set, they were blown away. David Hall himself fell in love with the sets coins. We didn’t need to beg or do anything to receive so many +’s. There are at least 29 pop 1′s that are the FINEST!
The journey to build this set took well over a decade. We are better then any one else at building the best sets and our customer had total dedication. Several times there were long dry spells where he’d try and start other series. Oops, next thing we knew it was back to the Morgans he has such a deep love for. Coins he needed would come up at the most inopportune times and we’d work with him and sit on the coins. The owner of this collection is not a gazillionare, he is a hard working businessman. Coins definitely are a ‘release” for him. Plus, having collected for so long, he knows the benefits of what financial rewards buying the “right” coins bring. He never hesitated when we offered him the 1893S in PCGS MS67. At that time he had never spent anywhere near $1 million dollars before on a coin. Sure, he was nervous, however unlike so many other collectors he knew to have a great set, he needed the BEST-so the 93S was not to be denied him! Of course today its worth substantially more then what he paid. In fact he NEVER quibbled about the price of any GREAT Morgan we presented to him (of course anything that was ridiculous we never pursued). And even if a coin was in the finest plastic-if we did not like it, he would not buy it (like the case of a major dollar that sold recently). As we said, it took a substantial effort to build this collection right!
We’re not done with this set. The Coronet Collector is still on the hunt to improve his collection. We encouraged him to post the set on the Registry because we were tired of hearing how lesser sets had this or that and a few wannabe dealers were claiming they built cool top Morgan sets-when all they had built were second rate sets of plastic. That may sound harsh, but it is a fact. Our customer and this great collection more than deserved to be honored with a place in history as the number one Morgan Dollar set.
See the PCGS Registry to see his set: http://www.pcgs.com/SetRegistry/alltimeset.aspx?s=115575.
The Coronet Collection of Morgans will also be on display at the PCGS table for the Long Beach show. We invite you to stop by and check it out. Its been a long time since the public got to see what a SUPERB GEM 1893S, a possible proof 91CC, or an out of this world 1901 looks like!
Legend has now done the impossible, we have exclusively built the FINEST EVER MS Trade Dollar sets, the FINEST EVER MS Seated Dollar sets, and now the current FINEST MS Morgan Collection-just to talk dollars! There is no dealer alive who comes close to being able to do what we do-build awesome sets and make our customers BOTH money and happy!
Things were still a little slow last week. We did sell one six figure coin and a few five figure beasts. However its that “dead time” after ANA where nothing new and exciting will pop up. We badly need coins again for our Want Lists. We will pay $90,000.00 for a $10 1911D PCGS MS64 CAC (ONLY). in fact, we need the VERY FINEST $5-$20 20th Century gold (MUST BE PCGS CAC-NO exceptions). We could spend $5 million immediately on those coins as the demand to us is insane!
We’re a little astonished droves of collector are not building what we see as inexpensive sets of PR Barbers. You can do a complete PR Barber Dime set in 66 for around $50,000.00. A PR 25C set in 65-66 can be done for UNDER $75,000.00. And PR Barber Half Set 65-66 for around $100,000.00. Of course we’re talking each coin is hand picked and eye appealing. You have coins in those sets where LESS then 1000 pieces were minted and maybe LESS then 50 survive in the higher grades (PR65-67) of each. At today’s prices this sounds like a huge opportunity to us.
If you see things during this “quite” time-BUY THEM. The premiums are less and you have less competition. We always say you should buy today’s coins for tomorrows returns. Sure there are short term spikes, but your buying to make 100%+ in a few years, not 20% in 3 months. Coins do NOT work like that. You WILL get burned if you think you can win short term in coins.