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Legend Market Report - THE GARDNER SALE + BALTIMORE SHOW
Broadstruck
Posts: 30,497 ✭✭✭✭✭
I do not usually post these however felt this Market Report was a very informative 
OUR MARKET REPORT IS OUR REPORTING OF WHAT LEGEND EXPERIENCES IN OUR ENVIORNMENT. EXPECT OTHERS TO HAVE DIFFERENT VIEWS. OUT MARKET IS THE TOP RARITES AND TOP 5% OF QUALITY.
THE GENE GARDNER SALE
What a history making sale! Legend sends sincere congrats to Gene Gardner on having his coins realize such tremendous prices and the majority going to good homes. We'd estimate 85% went to collectors. The total prices realized was close to $19,000,000.00! Legend bought nearly 20% of the sale (value)-BUT we got smoked on several million more in bids! This sale MORE then proved with out a doubt there was NO weakness in the market.
Here is a small list of coins we bid on and LOST that sold for tremendous money (all were cac):
H.01 1855 PCGS MS65 $16,450.00
1C 1878 PCGS PR65 RD CAMEO $7,637.00
3CS 1863/2 PCGS PR66 CAMEO $47,000.00
5C 1886 NGC PR67+ $8,225.00
5C 1916 PCGS PR67 $10,868.00
H.10 1870 PCGS MS67+ $10,575.00
10C 1820 PCGS MS66 $67,562.00
10C 1843O PCGS MS62 $141,000.00
50C 1820 PCGS MS65 $61,687.00
50C 1839 PCGS MS65 $38,187.00
50C 1895 PCGS PR68 CA $36,718.00
$1 1861 PCGS PR66 $76,375.00
$1 1873S PCGS MS65 $28,200.00
OTHER RANDOM RECORD PRICES:
10C 1822 PCGS PR66 CA $440,625.00
10C 1858S PCGS MS66 $88,125.00
10C 1904S PCGS MS65 $11,162.00
25C 1796 PCGS AU58 $82,250.00
25C 1862 PCGS MS67 $25,850.00
25C 1850 NGC PR68 $223,250.00
25C 1898O NGC MS68 $58,750.00
25C 1919S PCGS MS67FH $235,000.00
50C 1870 NGC PR67 $21,150.00
$1 1843 PCGS MS64 $51,406.00
$1 1870 NGC PR65 $19,387.00
A FEW COINS WE BOUGHT (NONE ARE FOR SALE)
10C 1796 PCGS MS67 $881,250.00 (Simpson)
10C 1800 PCGS MS66 $352,500.00 (Simpson)
10C 1807 PCGS MS65 $55,812.00
25C 1837 PCGS MS66 $76,375.00
25C 1918/7 PCGS MS64+ FH $188,000.00
25C 1874S W/A PCGS MS67 $23,500.00
25C 1881 PCGS PR68+ CA $41,125.00
$1 1899 PCGS PR68 $44,062.00
It is our clear opinion that prices were STRONG in the sale. The prices realized we posted above are a sample and are clear solid proof of strength even more important-depth. Only the lesser "off" quality piece sold for weaker prices (and there weren't many)!
A NOTE ABOUT POGUE, GARDNER, AND SIMPSON
First, even though we all reacted shocked, the announcement of the sale of the great Pogue Collection really was NOT a shock. The collection had been quietly floated on the market about 2 years ago. The insiders knew it was soon to be sold. We highly doubt the market had anything to do with the sale of these great coins. Also, we are highly confident you will see prices for the Pogue coins so straspheric we'll have to call them "outter galaxy" as they will be so above and beyond "beyond moon money" that anyone can imagine!
The Gardner coins were sold due to personal reasons-again, NOT anything to do with the market.
Simpson, hard to believe that even though we have 4 major sets to sell from him, he really is NOT selling. All Mr Simpson is doing-is pruning. His tastes have changed. Its all relative too (note: his collection is worth well over $150 million). Yes, to him a complete Bust Half Dime set worth nearly $1 million is not a major set. As we mentioend before, Mr Simpson purchased the 10C 1796 PCGS MS67 out of Gardner for $881,250.00. Last week we sold him one of the finest $2.5 1863 PCGS PR66 DCameos. We assure you, he is as aggressively buying more then ever-he sees tremendous opportunity currently. In fact, we could use another Ultra High Relief $20 (we're not talking the modern small ones) for him-anyone have one for sale??? We'd love to complete his Want Lists!
We have heard of 2 cases where bigger colletors have been "spooked" by these sales and rushed and dumped their coins into auctions. They will do fine. However it is our STRONG opinion, they WILL regret their actions. BETTER coins (especially rarities and QUALITY) are NOT going to crash or drift down. In fact, now that there is a chance of collectors actually beling able to buy again, we believe it WILL spur interest. In fact, we now have TWO collectors who just started HUGE projects. They're certainly not afraid. We'll keep reminding everyone that when Eliasberg, Bass, Norweb, and Pittman were all sold (al within a few years of each other), many NEW collections were created. There was NEVER a dip in the market when they all appeared so close.
THE BALTIMORE SHOW
We just can't help ourselves as dealers when it comes to attending shows. We all moan about the summer Baltimore and June Long Beach shows, yet most of us (including Legend) can't seem to quit going. These shows have little positive effect on the market when they are not 100% attended. Both shows are well run-but they never generate any real sales or market momentum in the early summer. We still would lobby to have these shows deleted. In fact, it looked like the majority of West Coast dealers did NOT attend this time. And we know of several major dealers who were planning on leaving early.
We did our typical routine. Saw our "secret" buyer who spent some good money with us. From that point on sales were a grind-but were steady. We did not do any bockbsuter sales. Only did one or two small retail transactions.
Fortunately we did solid buying for the past 2-3 weeks. The floor was as dry as dry could be! We had especially hoped to buy some better gold-we must have been dreaming. In fact, gold sold incredibly strong for us-especially generic PCGS MS66 CAC Saints. Wish we had high grade $10 indians (66+67) better dates-probably could have sold $1 million dollars worth! And where the heck did all of the BETTER date Morgans go? You can't buy any sexy PCGS CAC pieces.
Now (July) will be an incredible buying time. Do not wait for the crowd to come back from vacation. If you see any really great coins floating around-don't blink or else you will miss a HUGE opportunity! Times have changed. The great coins do not go round and round anymore. Once they sell-good luck if you see them in 10-25 years!
NEWPS
We will have a few Gardner coins posted next week (and we mean just a few). Until then we have gorgeous mouth watering pieces like: 5C 1883 NO CENTS PCGS PR67+ the FINEST GRADED! 10C 1907O PCGS MS67 EX NEWMAN TIED FOR FINEST GRADED, $2.5 1843C PCGS MS63+ A MONSTER, and the star of this weeks offerings: $10 1909 PCGS PR65. ALL coins are CAC beaned. We have a really great selection this week. Remember, one thing we will NOT do: is sacrifice quality for quantity.
Next week: Large Cent collectors-wait until you see what we have for sale!
LEGEND RARE COIN AUCTIONS
We are so proud of the quality of this sale. Every single person who looked at our upcoming July 17th Regency Sale at the show said WOW at the very least. Clearly the early PR sets and Simpson Dimes (especially the 76CC) are the stars. It tickled us silly that some of the sharpest dealers loved the rest of the sale as well. We even had a few people fly in just to lot view!
We strongly encourage you to either come to Las Vegas to view, or contact us and we'll try to work something out. This sale has REAL quality and is a MUST SEE! Again, even if you are not a buyer, the PR sets are so wild you should see them just as education. The 1856 set should not even exist!
You can bid live, by phone, or leave bids-we're as easy to deal with as any major firm. We will also happily discuss any coin with you over the phone or via email-and give straight forward descriptions. We do our best to provide you with quality images and descriptions.
To see the sale which is now LIVE go to: www.legendauctions.com
Do NOT wait until the last minute to view or ask us for help!!!
PLEASE EMAIL US IF YOU HAVE ANY QUESTIONS OR WISH TO BUY A COIN OVER THE WEEKEND. WE WILL NOT BE CHECKING OUR PHONE MESSAGED UNTIL MONDAY 9 AM: legend@legedncoin.com
OUR MARKET REPORT IS OUR REPORTING OF WHAT LEGEND EXPERIENCES IN OUR ENVIORNMENT. EXPECT OTHERS TO HAVE DIFFERENT VIEWS. OUT MARKET IS THE TOP RARITES AND TOP 5% OF QUALITY.
THE GENE GARDNER SALE
What a history making sale! Legend sends sincere congrats to Gene Gardner on having his coins realize such tremendous prices and the majority going to good homes. We'd estimate 85% went to collectors. The total prices realized was close to $19,000,000.00! Legend bought nearly 20% of the sale (value)-BUT we got smoked on several million more in bids! This sale MORE then proved with out a doubt there was NO weakness in the market.
Here is a small list of coins we bid on and LOST that sold for tremendous money (all were cac):
H.01 1855 PCGS MS65 $16,450.00
1C 1878 PCGS PR65 RD CAMEO $7,637.00
3CS 1863/2 PCGS PR66 CAMEO $47,000.00
5C 1886 NGC PR67+ $8,225.00
5C 1916 PCGS PR67 $10,868.00
H.10 1870 PCGS MS67+ $10,575.00
10C 1820 PCGS MS66 $67,562.00
10C 1843O PCGS MS62 $141,000.00
50C 1820 PCGS MS65 $61,687.00
50C 1839 PCGS MS65 $38,187.00
50C 1895 PCGS PR68 CA $36,718.00
$1 1861 PCGS PR66 $76,375.00
$1 1873S PCGS MS65 $28,200.00
OTHER RANDOM RECORD PRICES:
10C 1822 PCGS PR66 CA $440,625.00
10C 1858S PCGS MS66 $88,125.00
10C 1904S PCGS MS65 $11,162.00
25C 1796 PCGS AU58 $82,250.00
25C 1862 PCGS MS67 $25,850.00
25C 1850 NGC PR68 $223,250.00
25C 1898O NGC MS68 $58,750.00
25C 1919S PCGS MS67FH $235,000.00
50C 1870 NGC PR67 $21,150.00
$1 1843 PCGS MS64 $51,406.00
$1 1870 NGC PR65 $19,387.00
A FEW COINS WE BOUGHT (NONE ARE FOR SALE)
10C 1796 PCGS MS67 $881,250.00 (Simpson)
10C 1800 PCGS MS66 $352,500.00 (Simpson)
10C 1807 PCGS MS65 $55,812.00
25C 1837 PCGS MS66 $76,375.00
25C 1918/7 PCGS MS64+ FH $188,000.00
25C 1874S W/A PCGS MS67 $23,500.00
25C 1881 PCGS PR68+ CA $41,125.00
$1 1899 PCGS PR68 $44,062.00
It is our clear opinion that prices were STRONG in the sale. The prices realized we posted above are a sample and are clear solid proof of strength even more important-depth. Only the lesser "off" quality piece sold for weaker prices (and there weren't many)!
A NOTE ABOUT POGUE, GARDNER, AND SIMPSON
First, even though we all reacted shocked, the announcement of the sale of the great Pogue Collection really was NOT a shock. The collection had been quietly floated on the market about 2 years ago. The insiders knew it was soon to be sold. We highly doubt the market had anything to do with the sale of these great coins. Also, we are highly confident you will see prices for the Pogue coins so straspheric we'll have to call them "outter galaxy" as they will be so above and beyond "beyond moon money" that anyone can imagine!
The Gardner coins were sold due to personal reasons-again, NOT anything to do with the market.
Simpson, hard to believe that even though we have 4 major sets to sell from him, he really is NOT selling. All Mr Simpson is doing-is pruning. His tastes have changed. Its all relative too (note: his collection is worth well over $150 million). Yes, to him a complete Bust Half Dime set worth nearly $1 million is not a major set. As we mentioend before, Mr Simpson purchased the 10C 1796 PCGS MS67 out of Gardner for $881,250.00. Last week we sold him one of the finest $2.5 1863 PCGS PR66 DCameos. We assure you, he is as aggressively buying more then ever-he sees tremendous opportunity currently. In fact, we could use another Ultra High Relief $20 (we're not talking the modern small ones) for him-anyone have one for sale??? We'd love to complete his Want Lists!
We have heard of 2 cases where bigger colletors have been "spooked" by these sales and rushed and dumped their coins into auctions. They will do fine. However it is our STRONG opinion, they WILL regret their actions. BETTER coins (especially rarities and QUALITY) are NOT going to crash or drift down. In fact, now that there is a chance of collectors actually beling able to buy again, we believe it WILL spur interest. In fact, we now have TWO collectors who just started HUGE projects. They're certainly not afraid. We'll keep reminding everyone that when Eliasberg, Bass, Norweb, and Pittman were all sold (al within a few years of each other), many NEW collections were created. There was NEVER a dip in the market when they all appeared so close.
THE BALTIMORE SHOW
We just can't help ourselves as dealers when it comes to attending shows. We all moan about the summer Baltimore and June Long Beach shows, yet most of us (including Legend) can't seem to quit going. These shows have little positive effect on the market when they are not 100% attended. Both shows are well run-but they never generate any real sales or market momentum in the early summer. We still would lobby to have these shows deleted. In fact, it looked like the majority of West Coast dealers did NOT attend this time. And we know of several major dealers who were planning on leaving early.
We did our typical routine. Saw our "secret" buyer who spent some good money with us. From that point on sales were a grind-but were steady. We did not do any bockbsuter sales. Only did one or two small retail transactions.
Fortunately we did solid buying for the past 2-3 weeks. The floor was as dry as dry could be! We had especially hoped to buy some better gold-we must have been dreaming. In fact, gold sold incredibly strong for us-especially generic PCGS MS66 CAC Saints. Wish we had high grade $10 indians (66+67) better dates-probably could have sold $1 million dollars worth! And where the heck did all of the BETTER date Morgans go? You can't buy any sexy PCGS CAC pieces.
Now (July) will be an incredible buying time. Do not wait for the crowd to come back from vacation. If you see any really great coins floating around-don't blink or else you will miss a HUGE opportunity! Times have changed. The great coins do not go round and round anymore. Once they sell-good luck if you see them in 10-25 years!
NEWPS
We will have a few Gardner coins posted next week (and we mean just a few). Until then we have gorgeous mouth watering pieces like: 5C 1883 NO CENTS PCGS PR67+ the FINEST GRADED! 10C 1907O PCGS MS67 EX NEWMAN TIED FOR FINEST GRADED, $2.5 1843C PCGS MS63+ A MONSTER, and the star of this weeks offerings: $10 1909 PCGS PR65. ALL coins are CAC beaned. We have a really great selection this week. Remember, one thing we will NOT do: is sacrifice quality for quantity.
Next week: Large Cent collectors-wait until you see what we have for sale!
LEGEND RARE COIN AUCTIONS
We are so proud of the quality of this sale. Every single person who looked at our upcoming July 17th Regency Sale at the show said WOW at the very least. Clearly the early PR sets and Simpson Dimes (especially the 76CC) are the stars. It tickled us silly that some of the sharpest dealers loved the rest of the sale as well. We even had a few people fly in just to lot view!
We strongly encourage you to either come to Las Vegas to view, or contact us and we'll try to work something out. This sale has REAL quality and is a MUST SEE! Again, even if you are not a buyer, the PR sets are so wild you should see them just as education. The 1856 set should not even exist!
You can bid live, by phone, or leave bids-we're as easy to deal with as any major firm. We will also happily discuss any coin with you over the phone or via email-and give straight forward descriptions. We do our best to provide you with quality images and descriptions.
To see the sale which is now LIVE go to: www.legendauctions.com
Do NOT wait until the last minute to view or ask us for help!!!
PLEASE EMAIL US IF YOU HAVE ANY QUESTIONS OR WISH TO BUY A COIN OVER THE WEEKEND. WE WILL NOT BE CHECKING OUR PHONE MESSAGED UNTIL MONDAY 9 AM: legend@legedncoin.com
To Err Is Human.... To Collect Err's Is Just Too Much Darn Tootin Fun!
0
Comments
I'm sure more than a few people have been spooked by all this material coming up. I'm not one of them, but you have to wonder what will happen if too many people head for the door
And congratulations again to Mr. Gardner. He seems like a great guy and a true collectors' collector. I really enjoyed listening to him discuss his coins and experiences in building the set. LSS was very clear on this aspect that true collectors build sets out of passion and not out of profit motives, and then strangely enough, they tend to profit the most.
<< <i>I view all these great coins coming on the market as the opportunity of a lifetime >>
MY COINS FOR SALE AT https://www.pcgs.com/setregistry/collectors-showcase/other/bajjerfans-coins-sale/3876
<< <i>I view all these great coins coming on the market as the opportunity of a lifetime >>
Coin's for sale/trade.
Tom Pilitowski
US Rare Coin Investments
800-624-1870
The great coins do not go round and round anymore. Once they sell-good luck if you see them in 10-25 years!
I wonder how this conclusion was arrived at? Great coins have been coming and going with great regularity the past 5-10 years. This is more dependent on economic cycles and liquidity/monetary flows. So unless one is into
accurately predicting them, it's a stretch to make the above statement. Why would today be any different or "special" with respect to the turnover of great coins vs. the 1971-2013 period?
The Gardner coins were sold due to personal reasons-again, NOT anything to do with the market.
<< <i>I never considered Norweb (1987/1988) to be in the same era as Pittman and Eliasberg (7-9 yrs later).
The great coins do not go round and round anymore. Once they sell-good luck if you see them in 10-25 years!
I wonder how this conclusion was arrived at. Great coins have been coming and going with great regularity the past 5-10 years. This is more dependent on economic cycles and liquidity/monetary flows. So unless one is into
accurately predicting them, it's a stretch to make the above statement. Why would today be any different or "special" with respect to the turnover of great coins vs. the 1971-2013 period?
The Gardner coins were sold due to personal reasons-again, NOT anything to do with the market. >>
Roadrunner, Gardner and Pogue are in their late 70"s. So it's reasonable to assume they are selling due to their age especially in light of how long they held their coins.
I think their selling has zilch to do with 'economic cycles and liquidity monetary flows'.
I give away money. I collect money.
I don’t love money . I do love the Lord God.
<< <i>I think their selling has zilch to do with 'economic cycles and liquidity monetary flows'. >>
That was one of my points. While economic ebbs and flows will usually dictate the majority of buying and selling activity, personal factors trump everything....age included. So therefore great coins fairly recently bought could (and will) show up at any time. A lot of people and major collections bailed out of the markets in 1978-1980, 1987-1990, and then 2006-2008. Was that just dumb luck or coincidence? If economic cycles aren't the major influence in the buying and selling of collectibles, then what is? What great collections came to the market in the brutal recessions/corrections of 1981-1982 and 1992-1995? Coin market has put in a nice bounce since the 2009 bottom...same comment for the stock market. Just plain coincidence again that MAJOR collections look at 2014/2015 as much more like 2006-2008 and another opportunity to move on if you missed the previous window.