Important News! CoinLink has merged..... Visit our NEW Site www.CoinWeek.com

BREAKING NEWS:....... Vist Our NEW Site at CoinWeek.com

Legend Numismatics Pays $2 Million Dollars For 3 Lincoln Cents!

By Laura Sperber – Legend Numismatic Market Report

You may have noticed the past two weeks or so we have been saying and doing little with our web site. NEWPS have been minimal and Market Reports and Hot Topics have slowed. We can now tell you why. We have been super busy traveling completing deals-not just any deals, deals that are at world record prices and that include some of the rarest coins on earth! We are now finally back home and are pleased to make the following announcement:

LEGEND NUMISMATICS HAS BOUGHT AND SOLD THE UNIQUE 1C 1943D COPPER FOR $1,700,000.00!

We actually purchased a 3 coin coin deal for $2,000,000.00. We figured the 1943D at $1.7 million cost. The other two coins in the deal were the finest 1944 P Steel cent PCGS MS64, and a 1C 1942 PCGS 65 made out of white metal. Yes, you have read this right-3 pennys for $2 million dollars!

The 1943D and the 1944P are both now part of the ONLY COMPLETE PDS sets for their metals. The steel cent collection is by far the finest, as are the coppers. We are hoping to display both these sets at the PCGS table at FUN 2011.

Hard to believe, but Legend tried unsuccessfully for four years to buy the 1943D. The seller in the end was still reluctant. However, we can state ALL of the monies he received from the sale are going to a pet charity project of his. The seller (who wishes to remain anonymous) was represented by Lincoln Cent Specialist Andy Skrabalack of Angel Dee’s.

Our customer is thrilled to own the 1943D. Ever since he heard the coin existed, we had been sent on a mission to acquire it. His desire to own the complete and only PDS copper set came from his finding what he thought was a 1943 copper when he was young. Sadly, this piece was found to be a fake. Still he keeps this coin in his desk draw. He believes 43 Coppers are one of the ultimate classic rarities (and so do we). While the price we paid was stiff, the monies went to a good cause and the coins are now locked away in a great home.

Legend Numismatics has handled MANY million dollar plus classic rarities over the years. The 1943D really is one special highlight for us. We thank the seller and congratulate the new owner. For us, it really has been a career highlight.

WHAT ELSE DID WE TRAVEL FOR?

We have now flown several coast to coast trips over the past 2 weeks. There have also been stops in Dallas, NYC, and Denver in between.

One exciting collection we purchased was a spectacular Pattern Collection. When we got the call we were like, “oh great, more patterns”. This deal turned out to be an incredible “old time” collection with the majority of the coins being raw. Highlights included Earring Quarters, Amazionan Dollars, and several R-8 Seated patterns. These coins will be sent in for grading shortly. We did not grade anything less than PR65! ALL of the coins have been off the market for at least 20+ years. Guess we can never have enough great Patterns!

Besides patterns, we also bought and sold a 50C 1919D PCGS MS65. The price was in excess of $200,000.00. This sale now completes what maybe the second finest Walker set assembled (no, its NOT registered).

Over the next 2-3 weeks as we get coins back from the services, you’ll see some spectacular Type we picked up on these road trips. Most of the coins have NOT been seen in at least a decade.

MARKET ACTIVITY

Some skeptics will say our customer base does not resemble the true marketplace. While not everyone pays almost $2 million for a penny, the fact that we have so many eager buyers at the higher levels shows strong confidence in the market. If there were only confidence in MS65 Walkers, the market would be in trouble. We have done substantial business not “on the radar” in the past 2-3 weeks. We though it would have been a “dead time” and were we wrong!

People are definitely there for the “right” coins. Still need rare PR gold, HR’s in MS67, GEM silver Bust coins, MS 65 and better Seated Dollars,etc. Gold certainly is helping things too: We have been running tape messages for commoner coins like non 1908 PCGS MS66 CAC Saints. We will buy EVERYONE that has a green bean ever made (we are paying $3,450.00-price subject to change). Our demand is that strong. Maybe now you can see that we are not exaggerating when we say: if we had the right coins, we could sell at least $20,000,000.00 immediately.

NO LONG BEACH FOR US

Now you can understand why we will NOT be in attendance at the Long Beach Show now going on. We’re exhausted and decided to take this show off. This is only the second time in 30+years we have missed a Long Beach Show.

Legend WILL attend and have its double table at next weeks Whitman Show in Philadelphia.

THE SIMPSON DUPLICATE PATTERNS

We finally have the balance of the duplicate patterns from the Simpson Collection ready for sale. We will bring them to Phili and we will start posting them shortly on our web site. There are so many coins here it will take us 3-4 postings to list everything!

The Denali Collection will have a full color catalog in another week or so and then we will being selling those coins.

We appreciate all the interest that has been expressed in these two magnificent groups of coins.

About the Author

RSS Feed for This PostPost a Comment

You must be logged in to post a comment.