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Legend Market Report – The PCGS Invitational

This was by far the BEST one we have EVER attended since they began about 5 years ago. No, its not because our Jose sat down and in a few spins won a 4800 quarter jackpot, no activity on the bourse was strong.

Grading wise, we were happy they held the line and there were no massive quantities of drecky generics made. In fact, most dealers who do make coins like that did not seem happy with their results. Maybe they need to change their rose colored glasses? Those days are over!

Selling wise we were shocked. WHOLESALE was strong, as strong as we have EVER seen it-in fact we were surprised. Another deler who was only there for a day claims he sold six figures (we do believe him). Dealers wanted to do business. It is a possibilty they saw this small show as a chance to stock up for ANA. There were only about 25 tables.

The public turn out was decent. You don’t get more than 50 or so collectors coming to these (especially with the temps at 110 outside). But each show we are seeing a different collector or two who are there to spend some serious money. This show, we sold two coins OVER $25,000.00 to collectors! Thats more than we can do at Long Beach these days! Even more to our surprise, we were able to BUY some really nice coins as well from the public. We look forward to the next show in Septemeber.

BACK AT THE OFFICE

Sales were strong. We had hoped to make it a week to catch up on our paperwok-NOT! We ran a little sale (did very well) and managed to sell some bigger Want List coins. Collectors now can see there is not a ton of exceptional material in the ANA and pre ANA Sales to satifisy their hunger. So they are now back buying off of web sites (so it seems).

We also did a totally surprise huge seven figure sale in matter of minutes. We will be announcing that sometime next week.

You will be shocked how strong the $1 million dollar PLUS market for coins is. Does it make a difference to the collector buying an 1879S MS65? in our opinion, YES! It shows confidence. ALL levels of coins buyers always seek confirmation of confidence. Plus, you will find dealers with strengthen their bidding on less expensive items knowing the top tier is really strong, or they may have sold a huge coin and have become flush.

THE ANA AUCTIONS

We have now looked at B+M and Heritage. If you wish representation, please contact us NOW! We will be pretty cranky if you show up at the ANA table and ask us then. ALL representation is on a first come first serve basis. There are some great coins in these sales.

Do not forget to check out the Simpson coins in the Heritage sale. We sold him virtually ALL the coins and most are of the top quality you have come to expect from us. NOTE: We did NOT send all the coins to CAC. If you need to know which did go, please contact us. We will give you an honest opinion of the coins. Pattern collectors, this offering represents some exceptional opportuntiies-do NOT miss them (and Mr. Simspon will not be bidding-how refreshing)!

THE DENALI PATTERN COLLECTION

WOW, this is some collection. We did get all the coins graded at the PCGS Invite. Even David Hall came up to us to say how blown away he was at what he saw. Due to time restraints, we are hoping to have some portion of the collection ready for offering by next Monday. We know the bulk will not be offered until either at the ANA Show or shortly after. We still need to figure pricing and reinventory the coins.

We will confirm the collection consists of a 2Cent set, a 3CN+3CS set, a 20C set, and the most comprehensive set of patterns from 1870 (not he 1870’s, just 1870) EVER formed. There are an incredible amount of 1-2 known R-8 coins and many FINEST KNOWN coins (including a MONSTER 1869 25C PCGS PR68 cameo J-894-which we believe is the FINEST known Standard Silver 25C). If you need top quality coins from any of these sets, stay tuned!

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