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Topic Title: New Legend Market Report posted
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Created On: 5/29/2011 8:47 PM
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 5/29/2011 8:47 PM
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Justacommeman
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For your viewing pleasure.............or not

MJ

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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......
 5/29/2011 8:52 PM
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llafoe
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She must be stress-free now that she's not going to Long Beach... it was the most mellow Legend Market Report I've read!

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 5/29/2011 8:54 PM
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WTCG
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Tik...tok...tik...tok...

I'm just counting down the time until Frank makes a post about something as irrelevant or asinine as the spelling or something similar while completely avoiding the topic at hand in the report.

As for her report, I believe high value coin sales don't make the front pages mostly because they aren't considered "mainstream" enough to have appeal to the masses. Art and antiques carry more weight with the typical person than a coin does.

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 5/29/2011 8:57 PM
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llafoe
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<< Tick...tock...tick...tock... >>



Fixed it BF (before Frank)!

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 5/29/2011 9:00 PM
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keyman64
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Maybe I can answer some of her questions. Differences are these - Paintings and Statues are *BIG*...rich people put them in their GIGANTIC HOMES as trophies...have lavish parties and show these things off...similar are the watches and jewels...rich people get to wear their trophies and show them off at the lavish events and parties.

Coins on the other hand are small, in a small holder and sit in a SDB. They are only "shown off" at great expense to the owner through the rare coin show display.

This is WHY! Here are the answers. Glad I could help.

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"If it's not fun, it's not worth it." - KeyMan64.
Working on a TONED 1950-1964 PROOF SET. What do you have for me?
 5/29/2011 9:00 PM
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WTCG
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<<

<< Tick...tock...tick...tock... >>



Fixed it BF (before Frank)!
>>



Nah, that's how Ke$ha spells it so...

-------------------------
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Authorized dealer for PCGS, PCGS Currency, NGC, NCS, PMG, CAC. Member of the PNG, ANA. Member dealer of CoinPlex and CCE/FACTS as "CH5"
 5/29/2011 9:08 PM
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llafoe
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<<

<<

<< Tick...tock...tick...tock... >>



Fixed it BF (before Frank)!
>>



Nah, that's how Ke$ha spells it so...
>>



I guess you're right, after all, We R Who We R!

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 5/29/2011 9:23 PM
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coinsarefun
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<< Maybe I can answer some of her questions. Differences are these - Paintings and Statues are *BIG*...rich people put them in their GIGANTIC HOMES as trophies...have lavish parties and show these things off...similar are the watches and jewels...rich people get to wear their trophies and show them off at the lavish events and parties.

Coins on the other hand are small, in a small holder and sit in a SDB. They are only "shown off" at great expense to the owner through the rare coin show display.

This is WHY! Here are the answers. Glad I could help.
>>








I could not agree more with your statement!


I design/build homes for many wealthy people in the Los Angelus area
and it is very true, they show off the art, cars and jewels. One customer had a specially
made couch from Ralph Lauren(himself) and named it "Ralph" ......... Took me a few minutes
to figure that one out

And have even done a few coin dealers homes.......none showed me there " private collections"

This is my own experiences.......others may vary

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 5/29/2011 9:29 PM
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Coinosaurus
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Easily summarized - Laura is bullish on very high end rare coins.

Agree or disagree, she is putting herself out there every few weeks.

Otter dealers - ignore at your own perile - regularly createing fresh content on the website DOES drive trafic.

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 5/29/2011 9:34 PM
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Realone
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<<

<< Maybe I can answer some of her questions. Differences are these - Paintings and Statues are *BIG*...rich people put them in their GIGANTIC HOMES as trophies...have lavish parties and show these things off...similar are the watches and jewels...rich people get to wear their trophies and show them off at the lavish events and parties.

Coins on the other hand are small, in a small holder and sit in a SDB. They are only "shown off" at great expense to the owner through the rare coin show display.

This is WHY! Here are the answers. Glad I could help.
>>








I could not agree more with your statement!


I design/build homes for many wealthy people in the Los Angelus area
and it is very true, they show off the art, cars and jewels. One customer had a specially
made couch from Ralph Lauren(himself) and named it "Ralph" ......... Took me a few minutes
to figure that one out

And have even done a few coin dealers homes.......none showed me there " private collections"

This is my own experiences.......others may vary
>>




and I totally
I typically agree with Ms Sperber but not this time, this time she is trying to make a parallel argument but fails, you cannot relate apples with oranges as she is apparently trying to do here. In my mind with the prices of rarities that she has listed she has proven the in fact opposite, she has proved why they are worth so many times more than coins, because those listed are bigger and rarer and prettier and can be presented to the public in a grandeous manner ie by buidling a monument or eddifice around the object of art inorder to show it off in its best light. Where coins are either in a display case or vault at the Smithsonian/ANA or someone's sdb for private viewing or coin shows a couple times a year. Apples and oranges is what I say.

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'Never give in, never yield to the apparently overwhelming might of the enemy'.
FYI: I only collect naturally toned coins with original surfaces and nothing else, trust me nothing else!
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 5/29/2011 9:41 PM
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Justacommeman
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She may have missed the mark somewhat on the premise. However, her conclusion could still come up smelling like a rose......The conclusion is what one will be judged on. MJ

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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......
 5/29/2011 10:12 PM
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DaveE
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You all fail to see Miz Legend was thinking outside the box. obviously she was comparing how small the rare coin market is to how much money she saw thrown around in just one magazine.

coinsarefun, do rich people really show off jewels in their homes? how do they do that? sure they can wear them to events. that entails security. coins can be shown off the same way. Rare coins do have a new way of being shown off-via registries. little difference on that one. who the heck shows off a $6 million dollar watch? don't say at an event. Coins do get displayed at coin shows-those are big events. To me that argument is moot.

I think what she was trying to convey was the rarity and histories are so rich that the coins should be valued more vs the extreme monies being paid for other collectables.
 5/29/2011 10:24 PM
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Realone
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Look I wish she were correct but this difference in values has always been a huge spread and there is justification for it. Things are not going to change for some reason now, tere wil always unfortunately be this wide gap, it is the nature of what we are comparing. Here is another example, all of my wealthy friends, and I mean all of them, have all the trophies that comes with wealth except for coins, none of then and I mean none of them own a single coin. None collect coins and I can't even get them to think about owning one. Coin collectors are a different bread. None of my friends want to become collectors or experts, they don't have the time or the desire. I cannot talk them into it no matter how much I try. Inorder to invest big time in rare coins one has to become educated and they don't want to do the work. With paintings and other big ticket items it is another thing since they can show it off in their home it becomes more real for them and justified, it will be seen and enjoyed and shown every day and they don't have to become an espert like in coins. Sure they will do some researh, like buying a jag but they won't look at coins the same way.

-------------------------
'Never give in, never yield to the apparently overwhelming might of the enemy'.
FYI: I only collect naturally toned coins with original surfaces and nothing else, trust me nothing else!
OK with one exception!
 5/29/2011 10:42 PM
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coinsarefun
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<< You all fail to see Miz Legend was thinking outside the box. obviously she was comparing how small the rare coin market is to how much money she saw thrown around in just one magazine.

coinsarefun, do rich people really show off jewels in their homes? how do they do that? sure they can wear them to events. that entails security. coins can be shown off the same way. Rare coins do have a new way of being shown off-via registries. little difference on that one. who the heck shows off a $6 million dollar watch? don't say at an event. Coins do get displayed at coin shows-those are big events. To me that argument is moot.

I think what she was trying to convey was the rarity and histories are so rich that the coins should be valued more vs the extreme monies being paid for other collectables.
>>





I am very aware that she was trying to explain how small the coin collector/ investors world is.

I'm just stating that it wasn't a very good comparison And that is only my opinion and I am able to express
it as such.this does not mean you or anyone needs to agree

As far as your question regarding displaying jewels or jewelry.
I had a custom built glass and granite case for one customer that wanted to display
all of his different Rolex watches he had, all on watch winders in the front entry.
On the other side of the entryway was another granite/ glass case displaying his Davidoff cigars
and lighters.......humidors and all.

I know I have done other crazy stuff for these people but can't think of them right now

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 5/29/2011 10:45 PM
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Coins911
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I agree with Laura if you pay 20% more than market for a coin you won't have good return unless you hold the coin for 20-30 years. I wonder how much of that 20% over the market price goes to the seller of the coin and how much goes to Legend? My guess would be that Legend pays almost retail for the coin and a little more than 20% goes into Legend's pocket.
 5/29/2011 10:49 PM
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MrEureka
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 5/29/2011 11:20 PM
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PutTogether
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I think her post begs an excellent questions. Is a Pittman-like outcome available for coin buyers today?

Are there coins we see now, that will someday trade for hundreds or thousands of times what they go for now? If so, will they be coins we all know? Or unheard of specimen condition clad pieces who's rarity won't be truly understood for a generation. Will certain low to mid four figure R7 pattern coins explode in 20 years?
 5/29/2011 11:50 PM
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llafoe
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<< >>





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 5/30/2011 2:56 AM
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500Bay
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I just hope I live long enough to make those great returns

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 5/30/2011 5:34 AM
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secondrepublic
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I usually like Legend's blog, but this one was a lot of marketing hype.

Her general premise - ever increasing coin prices - seems pretty unlikely. Coin collecting, at least in the U.S., is likely to decline over the next 20-30 years as a lot of older collectors pass away or sell during retirement. Many collectors today are baby boomers who began filling sets out of circulation as kids... do you see a lot of kids collecting coins these days? Where are the masses of younger collectors who will step up and fill the void? Sure, you will always have some new blood, but overall, a decline is likely.

Comparing U.S. coins to well-established "world" markets for Picasso paintings, Patek Philippe watches, and big diamonds makes no sense. Overwhelmingly the people who collect U.S. coins are Americans. Just like most collectors of Russian coins are Russian (or Russian background). I know the Polish coin market pretty well, and I can tell you at the high end this is exactly how it works.

People tend to collect coins from their own country. That ensures there will never be a unified world market for one country's coins, where Russian and Saudi billionaires are bidding to buy a 1793 cent like they would bid for a Picasso. The whole premise is nonsensical. Even if a "global" coin market develops, why would U.S. coins be the beneficiary of that trend, rather than Chinese, Indian, Russian, etc. coins?

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"Men who had never shown any ability to make or increase fortunes for themselves abounded in brilliant plans for creating and increasing wealth for the country at large." Fiat Money Inflation in France, Andrew Dickson White (1912)
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