Legend/Morphy October sale is now online

TahoeDale · September 13, 2012 12:57PM

Nothing for me, but what do you think about the offerings?

Broadstruck · September 13, 2012 1:00PM

LINK

Broadstruck · September 13, 2012 1:14PM

<< Nothing for me, but what do you think about the offerings? >>

Nothing for me either and I didn't even see a single offering worth bothering to think about

Edited to add:

Actually quite disappointed with overall coin quality and image quality based on the hype...

As I was expecting some mega fresh mind blowers

Bayard1908 · September 13, 2012 1:20PM

<< Nothing for me, but what do you think about the offerings? >>

Much more low end material than I was expecting, especially considering the small number of lots.

LogPotato · September 13, 2012 1:25PM

"That's it?" comes to mind.

Broadstruck · September 13, 2012 1:30PM

Sorry to say but this is like a 99% Dreck Wreck

michiganboy · September 13, 2012 1:35PM

I found nothing as well, the 1860 3Cs proof was nicest coin I saw.

MsMorrisine · September 13, 2012 1:38PM

the 3-Pence 1783 PCGS AU53+ CAC CHALMERS qualifies as a nice coin

MsMorrisine · September 13, 2012 1:59PM

I'm also surprised to see small dollars and a first spouse in there. (all are 70's btw)

is it me, or the lighting, or ___ ? Does that DM MS70 First Spouse look like it has that copper discolorization some of the new .9999 gold gets?

LanceNewmanOCC · September 13, 2012 2:02PM

.
do you think this stuff is possibly just the shelf-dustings that some dealers get where it is either deemed not worthy of time right now, or maybe meh, i'll sit this aside for later and then before you

know it years have passed by and there sits a small fortune in hundreds or perhaps thousands of coins worth quite a bit of money?

so what i am asking if is this is possibly stock-relief and will either continue this way or just to get the ball rolling.

and yes i did see a few coins that i am amazed were referred to as drek.

i'll post a few that seem nice until someone corrects me

1C 1793 CHAIN AMERICA XF DETAILS-TOOLED

20C 1876 PCGS PR65

10C 1939-D PCGS MS69FB - i'll admit, first 69 i think i've seen in a merc

50C 1917-D REVERSE PCGS MS64 - bidding started at half price or am i missing something?

$1 1881 TRADE PCGS PR65 CAMEO CAC.

and how about the average under $2k coins. are they better examples. ie not all m65 coins are equal for the grade?

just asking since i have no opinion at this point. i've given too many today and i am all opinionated out
.

Justacommeman · September 13, 2012 2:08PM

Well she did state upfront that the first auction was a work in progress. Clearly it is.

I think it also illustrates how difficult it is to get great coins out of strong hands in numbers

MJ

rays · September 13, 2012 2:23PM

The photography is not good enough. The images look like scans from a $200 printer. Look to Goldbergs and Stack's-Bowers for what is needed in today's market.

mozin · September 13, 2012 2:34PM

I looked through the entire list of offerings, nothing of interest to me. Too bad, I was looking forward to seeing some super nice coins.

MsMorrisine · September 13, 2012 2:34PM

better lighting

LanceNewmanOCC · September 13, 2012 2:38PM

<< The images look like scans from a $200 printer >>

i was thinking that but didn't say it
.

tradedollarnut · September 13, 2012 2:53PM

Tough crowd! I just went through it for the first time and was actually quite pleased with the results.

pennyannie · September 13, 2012 3:00PM

<< Tough crowd! I just went through it for the first time and was actually quite pleased with the results. >>

Tradedollar- Will you list 5 or so coins you think are quite nice? I have yet to look at the offerings but would like to know a few that passes an experts muster. I would like to see if i spot those same coins as i browse thru the listings.

Thanks

tradedollarnut · September 13, 2012 3:07PM

<< 

<< Tough crowd! I just went through it for the first time and was actually quite pleased with the results. >>

Tradedollar- Will you list 5 or so coins you think are quite nice? I have yet to look at the offerings but would like to know a few that passes an experts muster. I would like to see if i spot those same coins as i browse thru the listings.

Thanks >>

What exactly do you mean by 'quite nice'? Do you mean nice for the grade or do you mean important coins? I have no idea on nice for the grade. As far as important coins, I'd say the chain cent, the DDO nickel, the 3 legged nickel, the gem proof trade dollar and the finest known proof double eagle all count. Not to mention two gem double dimes

coinsarefun · September 13, 2012 3:09PM

<< Well she did state upfront that the first auction was a work in progress. Clearly it is.

I think it also illustrates how difficult it is to get great coins out of strong hands in numbers

MJ >>

I agree, that's exactly what I was thinking

I also think most people do not know what's involved in getting something like that launched.

One cannot just hit the ground running, it takes time. I think it will be a very big success eventually......it just needs some time.

dragon · September 13, 2012 3:27PM

<<< Nothing for me either and I didn't even see a single offering worth bothering to think about >>>

<<< Much more low end material than I was expecting >>>

<<< Actually quite disappointed with overall coin quality and image quality based on the hype >>>

<<< Sorry to say but this is like a 99% Dreck Wreck >>>

<<< do you think this stuff is possibly just the shelf-dustings that some dealers get >>>

Wow, apparently some here were expecting The Garrett Sale, maybe Norweb? No, there is no array of 1880 Coiled Hair Stellas, no 1825/4 $5.00 Gold, no 1793 Strawberry Leaf Large Cents, not even an 1870-S $3.00 Gold.

I think this sale actually has quite a few sharp looking coins, and I'm sure they will only get better as time goes on.

jhdfla · September 13, 2012 7:36PM

With all due respect, there are some really neat coins in this sale. Maybe what some would call "dreck" as well, but it looks like they were trying to put together a sale that would have some interest in all price ranges, not just the mega buck material. Not too bad for the first time out. Nothing for me here, but admittedly I have a rather narrow range of interest. Going forward I suppose one of the considerations will be whether or not to offer items which cover all kinds of material, or to concentrate on just the higher end coins. This is only conjecture of course on my part, as I have no idea what direction future auctions will take. Tough nut to crack, putting together a successful auction business. Whatever issues I may have had in the past with Laura and Bruce, I have to give them credit for at least giving it a shot.

tradedollarnut · September 13, 2012 7:42PM

Thanks for the kind words.

The PCGS trade n grade sales will consist of $2500 and up coins (limit 500 lots) and each will be true viewed (if PCGS)

breakdown · September 13, 2012 7:44PM

It is the first auction and it's not surprising that some consignors will take a wait and see approach. Let them build up a bit of a track record before passing judgment. I wish them good luck as I think a boutique auction house might provide a nice alternative to what's serving the market now.

TPRC · September 13, 2012 7:49PM

<< With all due respect, there are some really neat coins in this sale. Maybe what some would call "dreck" as well, but it looks like they were trying to put together a sale that would have some interest in all price ranges, not just the mega buck material. Not too bad for the first time out. Nothing for me here, but admittedly I have a rather narrow range of interest. Going forward I suppose one of the considerations will be whether or not to offer items which cover all kinds of material, or to concentrate on just the higher end coins. This is only conjecture of course on my part, as I have no idea what direction future auctions will take. Tough nut to crack, putting together a successful auction business. Whatever issues I may have had in the past with Laura and Bruce, I have to give them credit for at least giving it a shot. >>

I have to agree. Give them a little slack. I never bought a coin from Legend, but as a collector, I usually only target one or two coins in an auction. I saw several coins here that I would really like to see in person and potentially bid on.

Manorcourtman · September 13, 2012 8:26PM

Some decent $2000-$5000 coins although the pics are horrible as pointed out already. I am surprised at some of the low end material being offered. There's a lot of non-CAC coins I think that have been referred to as DRECK by Laura before. I give it a C+ overall. More Seated material is needed! My 2c.

agentjim007 · September 13, 2012 10:38PM

Well she did state upfront that the first auction was a work in progress

This isn't their first attempt at auctions.

JWAR · September 13, 2012 11:18PM

Wow I thought the listing would be the type of coins you find in Legends Inventory this has alot of what Laura would call Dreck. I was hoping for "Wow" type coins and high quality pictures. Maybe as a dig further I'll find something worth bidding on.

JWAR · September 13, 2012 11:25PM

Here is what I did find which was nice:

10C 1939-D PCGS MS69FB.
$1 1879-S PCGS MS67PL CAC.
$10 1915 NGC PR66.
$20 1911 PCGS PR66+ CAC.

golden · September 13, 2012 11:59PM

<< Sorry to say but this is like a 99% Dreck Wreck

crypto79 · September 14, 2012 12:03AM

Looks nice to my eyes, the Half dime is stunning. Not sure about the Fine details 77 1c but even with it a strong group of coins for a new venue. I think they have predicted a gap in the market and if the money ends up strong for their results they will get to a point where they are turning away nice coins.

JWAR · September 14, 2012 12:25AM

Check out the terms:

This auction company permits bids to be placed by the auctioneer, an employee of the auctioneer, or the seller or an agent on the seller's behalf, even if such bids are placed solely for the purpose of increasing the bid

So Shill bidding is allowed by the auction company and seller who can see your max bid. They can bid up to your max bid to get you to pay more....NICE....

TwoKopeiki · September 14, 2012 12:34AM

Disappointing. Especially with all the hype and delay in releasing the catalog. Plus in this day and age there's absolutely no reason to have sub-par images. This was their "coming out" auction with a chance to set a certain standard and expectation for both the buyers and sellers and they blew it.

MFH · September 14, 2012 12:36AM

Some nice coins, just nothing I can use in my collection.

I'll keep checking.

bestclser1 · September 14, 2012 12:38AM

Nice selection!

MrEureka · September 14, 2012 12:52AM

So Shill bidding is allowed by the auction company and seller who can see your max bid. They can bid up to your max bid to get you to pay more

I don't get it. But if you can explain to me how a consignor can see the bidders' max bids, I will become a regular consignor to these auctions!

JWAR · September 14, 2012 1:02AM

<< So Shill bidding is allowed by the auction company and seller who can see your max bid. They can bid up to your max bid to get you to pay more

I don't get it. But if you can explain to me how a consignor can see the bidders' max bids, I will become a regular consignor to these auctions! >>

No the auction house can see the bids and place bids "for the sole purpose of increaseing the bid"

ColonelJessup · September 14, 2012 1:13AM

So you drank the Kool-Aid and found out the world is not always the same when the Orange Sunshine wears off.

An altogether superficial response from someone who often finds himself at loggerheads with Laurie and her posse.

However:

1) I know of dealers who attempted to consign items to this auction and had them refused. Quality control is being attempted and the paradigm will continue to be refined. Would I have taken everything they did? No. So what....

2) Larger auction houses may want to present something for everyone. L-M is (my own surmise) trying to present an overall better-quality selection for some buyers, not trying to be all things to all people.

3) Amen to the Garrett sale comment.

And on the other other hand:

The images do seem to truly and deeply suck.

Having known Julie for 20+ years, I'll give major odds this particular, and particularly important, issue wiil not re-occur.

The Manichean dichotomy between PQ and PU has always been an unrealistic and simplistic artifact of an inability to view quality as a continuum. Maybe it's not just "I like it" and "dreck". Consider the intermediate quality levels (in grade) of "schlock" and "just-miss".

Holding you nose over a messed-up Chain Cent? EAC people understand the discriminants that affect value in this area.

Someone ingested mass quantities of proof WLHs and thought a small market test might help them better price some components of their purchases? Perhaps. Your problem with that is.....?

Someone wants to sell off coins that have gone past their inventory control sell-by date? You problem with that is....?

See any serious flaws? Stop whining here and e-mail L-M so complaints and suggested improvements can be considered and operationalized. Legend has always made intensive customer service a core value.

"Not a fan" has nothing to do with doing business and appreciating the positive components of a business plan.

PerryHall · September 14, 2012 1:13AM

<< Check out the terms:

This auction company permits bids to be placed by the auctioneer, an employee of the auctioneer, or the seller or an agent on the seller's behalf, even if such bids are placed solely for the purpose of increasing the bid

So Shill bidding is allowed by the auction company and seller who can see your max bid. They can bid up to your max bid to get you to pay more....NICE.... >>

Yikes! Thanks for the warning. It sounds like there's nothing to prevent them from running up your bid to your maximum bid. No thanks.

MrEureka · September 14, 2012 1:35AM

This auction company permits bids to be placed by the auctioneer, an employee of the auctioneer, or the seller or an agent on the seller's behalf, even if such bids are placed solely for the purpose of increasing the bid

This language looks like it was "borrowed" from another auction firm, rather than drafted by L-M's attorneys. I say that because it is not unusual, especially at live auctions, for an auctioneer to start bidding at a level below the reserve, and then escalate bidding (with or without multiple bidders) up to the reserve. For example, this is SOP at Christies and Sothebys. However, given L-M's practice of starting auctions at the reserve price, and assuming that L-M does not plan to shill lots for greed or for sport, I wouldn't worry too much about this.

Lakesammman · September 14, 2012 1:46AM

What do a bunch of chat room weenies know, anyway.........?

Any doilies??

I sure like the 1863 proof set!

blu62vette · September 14, 2012 1:57AM

Looks like a nice selection of high and not so high end. I placed a bid and will place some more.

LanceNewmanOCC · September 14, 2012 2:15AM

.
well this just re-affirms i am in the right place. aside from negative comments, there are a lot of legitimate issues brought up and information being shared about how the auctions will be managed

unless things change i'll just say it is a nice but unfortunate eye-opener
.

DonWillis · September 14, 2012 3:28AM

I don't think some of you guys are looking at this objectively.

This is an inaugural auction with a limited number of lots. I think of this as a trial run to get up and running and find out where the bugs are.

I don't know how many of you have tried to launch a new company but if you have you know it's almost impossible to get it perfect out of the gates. Everything needs to ramp up.

For the LM auctions associated with PCGS all lots will be valued at $2500 or more. The vast majority of the lots will be PCGS coins with TrueView photos.

In my opinion having another auction venue that features quality coins is a welcome addition to the market. I know the auctions will have a lot of financial support. If your interested in an alternative then you'll support these efforts. If you're content with the same old, same old, then that's your choice but don't knock someone for trying.

I'm looking through the lots with the intention of buying something.

renomedphys · September 14, 2012 4:01AM

I must say that there are more nice coins here than I expected. At least two or three lots will have bids by me. And If I like 'em, I'm pretty sure others will too.

Watch the nay-sayers brag about their great buys in this auction in the coming weeks.

Justacommeman · September 14, 2012 4:59AM

<< 

<< Check out the terms:

This auction company permits bids to be placed by the auctioneer, an employee of the auctioneer, or the seller or an agent on the seller's behalf, even if such bids are placed solely for the purpose of increasing the bid

So Shill bidding is allowed by the auction company and seller who can see your max bid. They can bid up to your max bid to get you to pay more....NICE.... >>

Yikes! Thanks for the warning. It sounds like there's nothing to prevent them from running up your bid to your maximum bid. No thanks. >>

BS and why are you so easily duped? I can't put it any better then Andy did.

MJ

lusterlover · September 15, 2012 7:01AM

It's very easy to criticize a new venture. Let's see how the results play out and have a basis for opinion.

Anyone know where they got their estimated prices? Looking at the small cents, $1000 for a '77IHC in an NGC details holder is too high while $4500 for an '09 S-VDB in a OGH 65RD w/CAC is way too low. JMHO.

crypto79 · September 15, 2012 7:10AM

<< It's very easy to criticize a new venture. Let's see how the results play out and have a basis for opinion.

Anyone know where they got their estimated prices? Looking at the small cents, $1000 for a '77IHC in an NGC details holder is too high while $4500 for an '09 S-VDB in a OGH 65RD w/CAC is way too low. JMHO. >>

to be fair that is how the estimating game works, inflate the low ball stuff to impart the impression of value and undercut the choice stuff as it brings in bidders looking for a deal who then you hope get caught up in the action.

stealer · September 15, 2012 8:19AM

I'm less than impressed by their varying quality of pictures and somewhat unprofessional layout.

JCMhouston · September 15, 2012 9:15AM

<< See any serious flaws? Stop whining here and e-mail L-M so complaints and suggested improvements can be considered and operationalized. Legend has always made intensive customer service a core value. >>

Someone took one to many suck up pills today. Firstly, the thread was started asking for comments about the newest auction startup that had been hyped pretty heavily. If you don't want to see what people think climb in a hole somewhere until the auction is over.

I don't like the layout at all, just a long string of coins. Couldn't there be some organization that you could click on a buttong or text to show nickels, or dimes etc., sort of the way HA does thiers with the little sidebars. It's a small auction but still it would help.

I didn't think they would have anything of interest to me but I do look at some of the pieces on the legend web site and have read them constantly trashing anything that is not "PCGS/CAC only". I was pretty surprised, for example the 39D merc in 69FB doesn't have a sticker, why not? You'd think someone would sticker that to get maximum value. I don't even like stickers but would get it done before I tried to sell it. The 1916/16 buff is in the wrong holder and it doesn't have a sticker. These are exactly the type of coins they tell people not to buy.

jdimmick · September 15, 2012 9:52AM

I am glad somebody else thought the same thing, Knowing the tpyes of coins Legend carries, and reports about all the time in thier show reports, i was quite dissapointed with the offerings in this sale on the whole. There were a few neater items, but lots of "just stuff to get ridof"

ranshdow · September 15, 2012 10:46AM

<< I sure like the 1863 proof set! >>

Legend/Morphy October sale is now online

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