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Baltimore Legend Report

JustacommemanJustacommeman Posts: 22,852 ✭✭✭✭✭
Walker Proof Digital Album
Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
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Comments

  • roadrunnerroadrunner Posts: 28,313 ✭✭✭✭✭
    Every coin can't be monstrous, fresh, pop top, PCGS, and stickered, ideally for 4 to 6 figures. But it sort of seems from that report that the deep pocket collectors are all looking for top 1% coins....and disappointed when retailers can't keep spooning them out. What about the other 99% of the market?



    Since the last report I read, Legend has revamped their website.
    Barbarous Relic No More, LSCC -GoldSeek--shadow stats--SafeHaven--321gold
  • bidaskbidask Posts: 14,017 ✭✭✭✭✭
    I want to be a fly on the wall in those secret hotel rooms where dealers buy sell trade pre show.

    I manage money. I earn money. I save money .
    I give away money. I collect money.
    I don’t love money . I do love the Lord God.




  • TopographicOceansTopographicOceans Posts: 6,535 ✭✭✭✭
    We bought 3 DMPL’s not even totaling $5,000.00 and gold-we were stunned we bought only 2 coins for a total of $5,000.00. WOW

    So Legend is down to buying drecks now?image
  • GazesGazes Posts: 2,315 ✭✭✭✭✭
    What does she mean by "super secret buyer"?
  • coindeucecoindeuce Posts: 13,496 ✭✭✭✭✭
    I still can't fathom how it is so hard to get the name of a famous collector spelled correctly. Who the hell is Pouge ?

    "Everything is on its way to somewhere. Everything." - George Malley, Phenomenon
    http://www.american-legacy-coins.com

  • tradedollarnuttradedollarnut Posts: 20,190 ✭✭✭✭✭
    Originally posted by: TopographicOceans
    We bought 3 DMPL’s not even totaling $5,000.00 and gold-we were stunned we bought only 2 coins for a total of $5,000.00. WOW

    So Legend is down to buying drecks now?image


    Not that I feel like being combative, but you've totally missed the point of what dreck is

  • BryceMBryceM Posts: 11,850 ✭✭✭✭✭
    If the market really is rebounding, the smart collector would delay a while longer before releasing the good stuff to market. Could be what's happening....... but the crystal ball is always a bit cloudy.



    While imperfect, and full of hyperbole, these reports are useful. They provide an informed data point in a sea of others that can be used to gauge the health of things.



    I wish they'd use the term "super secret" a little more though. As a storytelling device, it adds a tremendously to the intrigue and suspense. image
  • RonyahskiRonyahski Posts: 3,118 ✭✭✭✭✭
    Was at the show for two days, spoke to several dealer buddies. Based on what they told me, and my observations, would have to say the Legend is spot on again.



    One exception, I thought there was a more interesting and nicer mix of coins in the offing, particularly in the areas Legend mentioned as being slow- like nickel and copper.
    Some refer to overgraded slabs as Coffins. I like to think of them as Happy Coins.
  • thisnamztakenthisnamztaken Posts: 4,101 ✭✭✭✭✭
    Originally posted by: BryceM
    If the market really is rebounding, the smart collector would delay a while longer before releasing the good stuff to market. Could be what's happening....... but the crystal ball is always a bit cloudy.

    While imperfect, and full of hyperbole, these reports are useful. They provide an informed data point in a sea of others that can be used to gauge the health of things.


    Wise perspective.

    I never thought that growing old would happen so fast.
    - Jim
  • TopographicOceansTopographicOceans Posts: 6,535 ✭✭✭✭
    Originally posted by: tradedollarnut
    Originally posted by: TopographicOceans
    We bought 3 DMPL’s not even totaling $5,000.00 and gold-we were stunned we bought only 2 coins for a total of $5,000.00. WOW

    So Legend is down to buying drecks now?image


    Not that I feel like being combative, but you've totally missed the point of what dreck is


    It was kind of like a joke, only not as funny
  • BaleyBaley Posts: 22,663 ✭✭✭✭✭
    Golly, nice report, it's like I get to live vicarously as someone like, really high in the coin heiracrchy.



    First, we must congratulate Mary Counts and crew for working so hard and putting on yet another excellent Baltimore Show.



    Good think there's no typos in THAT sentence image

    Liberty: Parent of Science & Industry

  • bidaskbidask Posts: 14,017 ✭✭✭✭✭
    Originally posted by: Baley
    Golly, nice report, it's like I get to live vicarously as someone like, really high in the coin heiracrchy.

    First, we must congratulate Mary Counts and crew for working so hard and putting on yet another excellent Baltimore Show.

    Good think there's no typos in THAT sentence image


    Yes good think ??

    And yes I believe in coin gods!

    I manage money. I earn money. I save money .
    I give away money. I collect money.
    I don’t love money . I do love the Lord God.




  • SeattleSlammerSeattleSlammer Posts: 10,047 ✭✭✭✭✭
    Legend's tone is that of the uber popular quarterback that just can't find a worthy prom date.

    I can relate.
  • ShortgapbobShortgapbob Posts: 2,332 ✭✭✭
    Oh, the mystery of the "super secret buyer" and "super secret stealth sales team."

    "It is the mark of an educated mind to be able to entertain a thought without accepting it." -- Aristotle

    For a large selection of U.S. Coins & Currency, visit The Reeded Edge's online webstore at the link below.

    The Reeded Edge
  • pennyanniepennyannie Posts: 3,929 ✭✭✭
    I have read for years you got to stretch for the coins, yet legend gets outbid on a lot of coins they believe to be worthy.
    Mark
    NGC registry V-Nickel proof #6!!!!
    working on proof shield nickels # 8 with a bullet!!!!

    RIP "BEAR"
  • bestdaybestday Posts: 4,242 ✭✭✭✭
    Originally posted by: TopographicOceans
    We bought 3 DMPL’s not even totaling $5,000.00 and gold-we were stunned we bought only 2 coins for a total of $5,000.00. WOW

    So Legend is down to buying drecks now?image



    image
  • TopographicOceansTopographicOceans Posts: 6,535 ✭✭✭✭
    Originally posted by: bestday
    Originally posted by: TopographicOceans
    We bought 3 DMPL’s not even totaling $5,000.00 and gold-we were stunned we bought only 2 coins for a total of $5,000.00. WOW

    So Legend is down to buying drecks now?image



    image


    A $1,700 DMPL and a $2,500 gold coin might be something somebody at my level would buy.

    Maybe I'm just moving up in the world of coins image
  • cameonut2011cameonut2011 Posts: 10,181 ✭✭✭✭✭
    Originally posted by: TopographicOceans
    Originally posted by: bestday
    Originally posted by: TopographicOceans
    We bought 3 DMPL’s not even totaling $5,000.00 and gold-we were stunned we bought only 2 coins for a total of $5,000.00. WOW

    So Legend is down to buying drecks now?image



    image


    A $1,700 DMPL and a $2,500 gold coin might be something somebody at my level would buy.

    Maybe I'm just moving up in the world of coins image


    By dreck, he is referring to off quality for the assigned grade and designation or a complete widget. Dreck can be very expensive or it can be inexpensive. Not all cheap coins are dreck, nor does a five to seven figure price tag ensure that it is not dreck.

    That is the take away I have from reading Legend's posts over time.
  • cameonut2011cameonut2011 Posts: 10,181 ✭✭✭✭✭
    Originally posted by: coindeuce
    Who the hell is Pouge ?


    It sounds French (poo-jay or is it pronounced POOGE?). imageimage
  • RichieURichRichieURich Posts: 8,535 ✭✭✭✭✭
    We didn't see any market slowness or softening at the Baltimore show. We were constantly busy start to finish all three days,

    we sold some great coins and bought some great coins. We bought several coins and sold them over the phone to clients with

    want lists.



    I guess it depends on what part of the market you are looking at.

    An authorized PCGS dealer, and a contributor to the Red Book.

  • TrazTraz Posts: 377 ✭✭✭✭✭
    Are these guys any good?
  • BillJonesBillJones Posts: 34,674 ✭✭✭✭✭
    I have not been to show since Winter FUN, but it's no surprise that there isn't much out there if you are looking for a fairly scarce item that is properly graded. The bourse dealers just don't seem to get very many of those coins any more. Whatever is available is in the auctions.

    Years ago I could go a major show and find examples of coins that were on my list. Now it's much harder. When I do find something, it often falls short of the assigned grade on the holder, and the price is no bargain given the fact that the assigned grade is an illusion.

    Some dealers push and push telling me that this coin is great because it's "original" and how they could get a higher grade if they were "to clean it." That statement is sadly all too often true, but it still can't get around the fact that the coin is "optimistically graded" to begin with.

    One dealer does seem to pull a lot of good coins out of the woodwork. I get his emails and when he does have something I could use, it's almost always sold before I can contact him. He's obviously doing very well because his inventory turnover rate is breathtaking. Still he seems to be the exception. For most dealers, their offerings seem to suffer from "tired blood."
    Retired dealer and avid collector of U.S. type coins, 19th century presidential campaign medalets and selected medals. In recent years I have been working on a set of British coins - at least one coin from each king or queen who issued pieces that are collectible. I am also collecting at least one coin for each Roman emperor from Julius Caesar to ... ?
  • ms70ms70 Posts: 13,956 ✭✭✭✭✭
    Originally posted by: Hydrant

    Originally posted by: TopographicOceans

    We bought 3 DMPL’s not even totaling $5,000.00 and gold-we were stunned we bought only 2 coins for a total of $5,000.00. WOW


    So Legend is down to buying drecks now?image




    Yeah, maybe it's just me but I don't get it. Like, there's nothing any good to be had, and they buy only the best, yet they bought "piles" and "tons" of stuff. Does that make any sense? I don't think so. Does any of it make any sense? Those reports make my head spin. Is it just me? Can't be.




    No it doesn't, and no, not just you.

    Great transactions with oih82w8, JasonGaming, Moose1913.

  • tradedollarnuttradedollarnut Posts: 20,190 ✭✭✭✭✭


    "Yeah, maybe it's just me but I don't get it. Like, there's nothing any good to be had, and they buy only the best, yet they bought "piles" and "tons" of stuff. Does that make any sense? I don't think so. Does any of it make any sense? Those reports make my head spin. Is it just me? Can't be."

    I'm massively confused by your take on what was written - did we even read the same Report? Kindly point out where they bought piles or tons of stuff. The entire ghist of the report is that there's very little to buy so your post mystifies me
  • NicNic Posts: 3,400 ✭✭✭✭✭
    "With no major shows until CSNS at the end of April, we definately see the coin market as slowing"



    Good report.
  • roadrunnerroadrunner Posts: 28,313 ✭✭✭✭✭
    Based on these comments, there were apparently plenty of quality coins for someone to buy....even if it wasn't Legend doing the buying for "piles/tons of coins." Legend can't be the only dealer at the show selling piles of coins.



    Starting with our favorite “super secret” buyer our sales were strong the entire day. In fact everyone we showed coins too, did not just buy a coin, they bought a pile of coins....



    Wednesday was even more surprising. We hardly ever do any wholesale business that day-no matter how hard we try. Starting off at 9AM we sold a ton of coins.....



    Even our “stealth secret sellers” said the show turned good for them too.....



    For us, GOLD was red hot. We sold a ton of it, including several “old friends”at full ticket prices. Dealers needed all kinds of gold-and surprised us by paying strong premiums. The better the gold coin (quality or rarity) the stronger they paid. The demand for gold was clearly above average. Indian gold was definately in demand in GEM.




    None of these comments would suggest a slowing market.







    Barbarous Relic No More, LSCC -GoldSeek--shadow stats--SafeHaven--321gold
  • tradedollarnuttradedollarnut Posts: 20,190 ✭✭✭✭✭
    Originally posted by: Nic
    "With no major shows until CSNS at the end of April, we definately see the coin market as slowing"

    Good report.


    Ohhhh, activity is slowing because of no shows. Got it

  • brg5658brg5658 Posts: 2,399 ✭✭✭✭✭
    Originally posted by: tradedollarnut

    Originally posted by: Nic

    "With no major shows until CSNS at the end of April, we definately see the coin market as slowing"



    Good report.




    Ohhhh, activity is slowing because of no shows. Got it







    You realize you are mocking a direct quote from the Legend report? I agree with you that it makes no sense, but those are your business partner's words, not Nic's. Maybe that's a given since "definately" was misspelled. image



    -Brandon
    -~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-
    My sets: [280+ horse coins] :: [France Sowers] :: [Colorful world copper] :: [Beautiful world coins]
    -~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-

  • RichieURichRichieURich Posts: 8,535 ✭✭✭✭✭
    Originally posted by: BillJones

    Years ago I could go a major show and find examples of coins that were on my list. Now it's much harder.




    A lot of collectors have this same experience. One reason is that as your collection gets more complete, there are fewer coins on your want list and those coins are more difficult to find (or you would probably own them by now.) When I was a collector, I experienced the same problem.



    We sold two coins at Baltimore with approximately twelve known to collectors with want lists for those coins. But, believe me, those two coins were very, very hard to find. For both coins, prior to this show, I had only seen in hand one example of each coin. So after hundreds of shows as collector or dealer, I have now seen two examples of each coin. No wonder it is difficult to find those coins!



    An authorized PCGS dealer, and a contributor to the Red Book.

  • bestdaybestday Posts: 4,242 ✭✭✭✭
    Originally posted by: roadrunner
    Based on these comments, there were apparently plenty of quality coins for someone to buy....even if it wasn't Legend doing the buying for "piles/tons of coins." Legend can't be the only dealer at the show selling piles of coins.

    Starting with our favorite “super secret” buyer our sales were strong the entire day. In fact everyone we showed coins too, did not just buy a coin, they bought a pile of coins....

    Wednesday was even more surprising. We hardly ever do any wholesale business that day-no matter how hard we try. Starting off at 9AM we sold a ton of coins.....

    Even our “stealth secret sellers” said the show turned good for them too.....

    For us, GOLD was red hot. We sold a ton of it, including several “old friends”at full ticket prices. Dealers needed all kinds of gold-and surprised us by paying strong premiums. The better the gold coin (quality or rarity) the stronger they paid. The demand for gold was clearly above average. Indian gold was definately in demand in GEM.


    None of these comments would suggest a slowing market.



    The fact Slowing Markets is talked about ..is what.. what it is ...slowing markets.. as coin market participants try to spin a market, that has been slowing for several months ......
    No one wants/like /can afford to talk down their book

    Gold was there for the taking at the FUN show ..now after a big rally Gold is hot .. at the top





  • tradedollarnuttradedollarnut Posts: 20,190 ✭✭✭✭✭
    Originally posted by: brg5658
    Originally posted by: tradedollarnut
    Originally posted by: Nic
    "With no major shows until CSNS at the end of April, we definately see the coin market as slowing"

    Good report.


    Ohhhh, activity is slowing because of no shows. Got it



    You realize you are mocking a direct quote from the Legend report? I agree with you that it makes no sense, but those are your business partner's words, not Nic's. Maybe that's a given since "definately" was misspelled. image



    Yawn

  • etexmikeetexmike Posts: 6,852 ✭✭✭
    I always enjoy reading the Legend reports.



    Most of the time the reports don't really apply to me. I am not the usual clientele for Legend. My budget doesn't allow much shopping on their site. But, I do have a coin on the want list with them at the present because of the type and quality of coins that they seek out and purchase.



    Like 'em or dislike 'em. They got good stuff. image



    Mike
  • brg5658brg5658 Posts: 2,399 ✭✭✭✭✭
    Originally posted by: tradedollarnut

    Originally posted by: brg5658

    Originally posted by: tradedollarnut

    Originally posted by: Nic

    "With no major shows until CSNS at the end of April, we definately see the coin market as slowing"



    Good report.




    Ohhhh, activity is slowing because of no shows. Got it







    You realize you are mocking a direct quote from the Legend report? I agree with you that it makes no sense, but those are your business partner's words, not Nic's. Maybe that's a given since "definately" was misspelled. image







    Yawn







    Deep insight as usual.



    -Brandon
    -~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-
    My sets: [280+ horse coins] :: [France Sowers] :: [Colorful world copper] :: [Beautiful world coins]
    -~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-

  • tradedollarnuttradedollarnut Posts: 20,190 ✭✭✭✭✭
    It's the only reaction your responses create. You'd rather zing Legend and me than recognize my response to nic was accurate - that the point was the market activity will slow due to no shows or auctions, not necessarily because it's a weak market right now.

    But then again you've never once had anything other than negative to say, so it's the SSDD. Thus the yawn
  • pennyanniepennyannie Posts: 3,929 ✭✭✭
    Originally posted by: tradedollarnut
    It's the only reaction your responses create. You'd rather zing Legend and me than recognize my response to nic was accurate - that the point was the market activity will slow due to no shows or auctions, not necessarily because it's a weak market right now.

    But then again you've never once had anything other than negative to say, so it's the SSDD. Thus the yawn


    I thought the yawn was the kids are keeping you up.image

    Mark
    NGC registry V-Nickel proof #6!!!!
    working on proof shield nickels # 8 with a bullet!!!!

    RIP "BEAR"
  • ConnecticoinConnecticoin Posts: 13,090 ✭✭✭✭✭
    Since the last report I read, Legend has revamped their website.


    Not sure I like the overhaul. It will take getting used to I guess.
  • NicNic Posts: 3,400 ✭✭✭✭✭
    I guess Bruce edited out the parts about rereading it several times, never saw mention of the direct quote, and the OP should change their title to the thread.





    Nice.



  • blu62vetteblu62vette Posts: 11,942 ✭✭✭✭✭
    Originally posted by: tradedollarnut
    It's the only reaction your responses create. You'd rather zing Legend and me than recognize my response to nic was accurate - that the point was the market activity will slow due to no shows or auctions, not necessarily because it's a weak market right now.

    But then again you've never once had anything other than negative to say, so it's the SSDD. Thus the yawn


    I am a but surprised how slows the shows are for the next couple months, CSNS then what, Long Beach? Seems like a big gap for a major show. There are some regional shows and trade and grades but nothing really big.
    http://www.bluccphotos.com" target="new">BluCC Photos Shows for onsite imaging: Nov Baltimore, FUN, Long Beach http://www.facebook.com/bluccphotos" target="new">BluCC on Facebook
  • NicNic Posts: 3,400 ✭✭✭✭✭
    Originally posted by: Nic

    I guess Bruce edited out the parts about rereading it several times, never saw mention of the direct quote, and the OP should change their title to the thread.





    Nice.











  • NicNic Posts: 3,400 ✭✭✭✭✭
    And the OP edited.
  • tradedollarnuttradedollarnut Posts: 20,190 ✭✭✭✭✭
    Originally posted by: Nic
    I guess Bruce edited out the parts about rereading it several times, never saw mention of the direct quote, and the OP should change their title to the thread.


    Nice.



    I did miss that exact quote and stand by my confusion at the OP descriptor ...mainly because the entire theme of the report has nothing to do with the market slowing. Thanks for pointing out where it was buried.



  • NicNic Posts: 3,400 ✭✭✭✭✭
    Originally posted by: tradedollarnut

    Originally posted by: Nic

    I guess Bruce edited out the parts about rereading it several times, never saw mention of the direct quote, and the OP should change their title to the thread.





    Nice.







    I did miss that exact quote and stand by my confusion at the OP descriptor ...mainly because the entire theme of the report has nothing to do with the market slowing. Thanks for pointing out where it was buried.











    Quote before edit. Your welcome.



  • JustacommemanJustacommeman Posts: 22,852 ✭✭✭✭✭
    Originally posted by: Nic

    Originally posted by: tradedollarnut

    Originally posted by: Nic

    I guess Bruce edited out the parts about rereading it several times, never saw mention of the direct quote, and the OP should change their title to the thread.





    Nice.







    I did miss that exact quote and stand by my confusion at the OP descriptor ...mainly because the entire theme of the report has nothing to do with the market slowing. Thanks for pointing out where it was buried.











    Quote before edit. Your welcome.







    Ya. My bad actually.



    mark

    Walker Proof Digital Album
    Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
  • tradedollarnuttradedollarnut Posts: 20,190 ✭✭✭✭✭
    Originally posted by: Nic
    Originally posted by: tradedollarnut
    Originally posted by: Nic
    I guess Bruce edited out the parts about rereading it several times, never saw mention of the direct quote, and the OP should change their title to the thread.


    Nice.



    I did miss that exact quote and stand by my confusion at the OP descriptor ...mainly because the entire theme of the report has nothing to do with the market slowing. Thanks for pointing out where it was buried.





    Quote before edit. Your welcome.



    /eyeroll. I edited because I had no desire to offend justacommemman if that sentence was actually in there. Very sorry to get you're panties in a bunch over it - I will be sure to fill out the proper 'request to edit post' forms in the future.

  • SeattleSlammerSeattleSlammer Posts: 10,047 ✭✭✭✭✭
    Originally posted by: tradedollarnut
    Originally posted by: Nic
    Originally posted by: tradedollarnut
    Originally posted by: Nic
    I guess Bruce edited out the parts about rereading it several times, never saw mention of the direct quote, and the OP should change their title to the thread.


    Nice.



    I did miss that exact quote and stand by my confusion at the OP descriptor ...mainly because the entire theme of the report has nothing to do with the market slowing. Thanks for pointing out where it was buried.





    Quote before edit. Your welcome.



    /eyeroll. I edited because I had no desire to offend justacommemman if that sentence was actually in there. Very sorry to get you're panties in a bunch over it - I will be sure to fill out the proper 'request to edit post' forms in the future.









    Not 'your welcome' ..... you're welcome

    Not 'you're panties' .... your panties

    Carry on.
  • tradedollarnuttradedollarnut Posts: 20,190 ✭✭✭✭✭
    Sigh. Too subtle?
  • BryceMBryceM Posts: 11,850 ✭✭✭✭✭
    I wonder if one of these threads will ever fail to generate drama?



    I doubt it.
  • EVillageProwlerEVillageProwler Posts: 5,856 ✭✭✭✭✭
    I think it is just fine to question what we read from dealers, or anyone for that matter. But I hardly think it is appropriate to bolster one's position by correcting another's spelling, grammar or some such mistakes. If one's position is correct on its merits, then article's English usage would have no impact on the correctness of those challenging the other's position.

    So, then, what is the point of publicly correcting someone else's English?

    And, wasn't that a violation of forum rules here?

    EVP

    How does one get a hater to stop hating?

    I can be reached at evillageprowler@gmail.com

  • SonorandesertratSonorandesertrat Posts: 5,695 ✭✭✭✭✭
    Originally posted by: EVillageProwler
    I think it is just fine to question what we read from dealers, or anyone for that matter. But I hardly think it is appropriate to bolster one's position by correcting another's spelling, grammar or some such mistakes. If one's position is correct on its merits, then article's English usage would have no impact on the correctness of those challenging the other's position.

    So, then, what is the point of publicly correcting someone else's English?

    And, wasn't that a violation of forum rules here?

    EVP


    I agree. When one doesn't like the message, it does seem that a common response is to shoot the messenger (by criticizing grammar, orthography, and/or writing style).

    Member: EAC, NBS, C4, CWTS, ANA

    RMR: 'Wer, wenn ich schriee, hörte mich denn aus der Engel Ordnungen?'

    CJ: 'No one!' [Ain't no angels in the coin biz]
  • Cougar1978Cougar1978 Posts: 8,716 ✭✭✭✭✭
    I take it when they set up its a Brinks Truck then special security unloading? I can't imagine someone with the dollar value their stuff totals up to carrying it into the show after taking it out of their trunk like a lot of us.
    Coins & Currency

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