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Market Reports

Legend Rare Coin Auctions' October 19, 2018 Market Report

Posted by on 19 October 2018

This was another busy week at LRCA! Both the October Premier Session and the November Regency Auctions are online and ready for bidding. There is a lot of action already—we are amazed how the two sales took shape and all came together nicely in the end.

 The October Premier Session has a broad range of coins, as usual, but there are concentrations in superb Lincoln cents, collector grade Bust halves, and near-gem early walkers. As always, a few beautiful toned Morgans are included, as is a neat selection of Mint State and Proof type coins and gold. In all 205 lots will be auctioned. The sale is now open for bidding and closes live on Sunday October 28, beginning at 9 pm eastern.

 The Regency Auction 29 is now open for bidding as well. If you have not taken the chance yet to preview the offering, take some time this weekend to do so. There is a marvelous selection of rarities in all areas from early copper to 19th century type to 20th century gold—there is something for everyone in the sale.

 Both sales will be at our table at the upcoming Baltimore show. Come by and take a look at table 643. We will also be doing a special WEST COAST lot viewing on November 1 at the PCGS Headquarters in Santa Ana, CA. Greg Cohen and Jessica Berkman will be there to show you lots. Contact us today for more information.

 

A VERY IMPORTANT MESSAGE

   As we strive to be the best in the business especially when it comes to presentation of our auctions, we have been working on improving our photography. As we continue to adjust this project, some of the images may seem different than the type you have grown accustomed to seeing. We welcome our customers’ feedback always, so please do not hesitate to contact us to share your opinions. Also, please know that we have been working  over time to make sure the photos you see are accurate to the coin in hand. We expect to have all changes in images in the Regency 29 sale completed by early next week. We appologize for any inconviences.

 

UPCOMING AUCTIONS 

 Upcoming auctions: as announced last week in our press release, we are ending the Premier Sessions auctions in December. We are now accepting consignments to the final Premier Sessions auctions. The December sale will have a full lot viewing at the December PCGS Members show. Drop off consignments at table 643 at next week's Baltimore Expo!

 We also announced that Regency Auction 30 will be a “standalone” auction, that will not be held in conjunction with the PCGS Members Show because of scheduling issues (they are not having a show until March). . We will be rolling out the red carpet for everyone. The sale will be at the Beverly Hills Marriot on Sunday, January 27, and today, Greg Cohen is out picking up a neat collection for that sale (more details to come). The sale will also feature a very important collection from one of Legend Numismatics’ long time customers. NOW is the time to contact Julie Abrams ([email protected]), Greg Cohen ([email protected]), or Jessica Berkman ([email protected]) to discuss consigning.

 As always, if you have any questions about any coins in our upcoming auctions or to consign, please do not hesitate to call 732-935-1168, or email any of our consignment specialists. We look forward to working with you. From beginning to end, one of our dedicated specialists will be with you at every step. 

SEE US AT BALTIMORE, TABLE 643

 Have a great weekend and happy collecting.

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Legend Rare Coin Auctions is making a HUGE announcement about its auction schedule and program starting in 2019.

Posted by on 12 October 2018

Legend Rare Coin Auctions’ Regency Auctions have experienced very strong growth in 2018, with two sales containing enough material to justify two-day auction events. The boutique concept LRCA has created clearly found a niche that was long overlooked. The market for hand-selected, high quality U.S. coins was much stronger than  even we suspected. It is with great pride in that growth and demand for the Legend brand auctions that the firm is announcing that starting in 2019, there will be six Regency Auctions, including the first time that a Regency Auction will be a “stand alone” event (being held in January), that will not be in conjunction with a PCGS Members Show, all others for 2019 will be held in conjunction with PCGS’ Shows.

To accommodate the additional Regency Auction, LRCA is also announcing that the December 2018 Premier Session will be the firm’s final monthly internet only auction. While these sales have been very successful, due to the overwhelming demand for Regency Auctions from both consignors and buyers, the firm is redirecting its efforts into the Regency Auctions to ensure that they become the best U.S. numismatic auction events of the entire year. However, to give the monthly Premier Sessions the farewell they deserve, LRCA is pleased to announce that the December Premier Session will be the biggest and best yet—the firm is billing it as mini-Regency Auction.

“From its outset, LRCA was designed to be different, and offer a different level of quality,” explained the firm’s president, Julie Abrams, “and we mean not just the quality of the coins being sold, but the quality of the customer service and the experience for both buyers and sellers. To that end, we thought the monthly Premier Sessions provided a great opportunity for collectors of coins in the $1,000-$10,000 range. While we are sad to see them go, we are very excited for what the future holds for our Regency Auctions.”

The remaining 2018 monthly Premier Sessions will continue on as scheduled, with a very impressive offering being planned for December’s final session. Lot viewing will take place at the December PCGS Member’s Show, December 12-14.

The first 2019 Regency Auction will be held on Sunday, January 27, 2019 at the Beverly Hills Marriot, and will begin at 4:30 PST. This will be a stand alone sale, held just prior to the always popular Long Beach Expo. More details about collections already consigned will be announced in the coming weeks. Due to the holiday season, consignments must be in house no later than Wednesday, November 28.

Regency Auctions will be conducted as the Official Auction for the PCGS Member’s Show throughout the rest of the year. Specific dates and locations to be announced shortly.

Legend Rare Coin Auctions is a boutique auction company specializing in the finest and rarest U.S. coins. Founded in 2012 by Laura Sperber, the owner and president of Legend Numismatics, the premier rare coin retail firm. LRCA was, from the outset designed to be a different kind of rare coin auction firm. LRCA’s staff of numismatic auction industry veterans includes Julie Abrams, president; Greg Cohen, senior numismatist; and Jessica Berkman, consignment coordinator. The firm’s Regency Auctions serve as the official auction for the PCGS Members’ Shows, held six times per year. Since its founding, LRCA has sold many important collections, resulting in world-record prices, including the Coronet Collection of Morgan Dollars (#1 all time PCGS set); the David Hall—Bob Simpson Collection of Liberty Head Eagles; the Sunnywood-Simpson Collection of Morgan Dollars; the Phil Flannagan Collection of Territorial Gold, Toned Dollars, and 1795 coins; duplicates from the Gerald Forsythe Collections of Buffalo Nickels and Mercury Dimes; the Bob Simpson Collection of Standard Silver Patterns; the Northern Lights Collection of Monster Toned Morgan Dollars; the Crow River Collections of Indian Head $10s and Peace Dollars; the P.F.M Collection (former #6 PCGS Set of Morgan Dollars with varieties); the Oak Crest Collection of Carson City $5 gold; the Konstatine Collection of Capped Bust Half Dollars, the #1 PCGS Set of Red Book varieties, 1807-1836. The firm has the 2nd highest APR in 2016 with the sale of Bob Simpson’s duplicate 1879 $20 “Quintuple Stella” which realized $1,880,000.

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October 5, 2018 Legend Rare Coin Auctions Market Report

Posted by on 5 October 2018

Welcome to October. Thinking about the market this week, we can use early fall weather as a great metaphor. Now having a week to digest the results of the September Regency Auction, we have made some observations about the state of the rare coin market. Some trends that we have been noticing have set in.

The market definitely has stratified. There is a lot of talk in the chat boards and other market reports about a “two tier” market. We are seeing this for sure, but we think there are some more layers than just two. Clearly, PCGS/CAC coins see the most demand. Just look at the results in the collections we sold in the Regency Auction. The coins in the Konstantine and Hallett Collections that performed the best were the ones that were CAC approved. Collectors demand the quality that the PCGS/CAC combination offers. The coins that did not reach estimates or perform as well were the non-CAC coins from these collections.

One thing you know about Legend Auctions by now though is we provide another layer of screening. So even if a coin is NOT PCGS/CAC it has been screened and approved by our world class numismatists. If we do not like a coin, it will not appear in our sale. However, the market, like the early fall weather can be hot and cold in the same week. It really depends on the individual coins.

From the feedback we have been getting from consignors to the Regency Auction, everyone was very happy with the results. Record prices were shattered on many coins, blasting through their estimates. This brings us to another topic that we have been trying to address—our estimates. We do our best to provide an accurate estimate range for the coins in our sales. These, to the best of our ability, give them a hammer price estimate, that with the 17.5% buyers premium will bring it to a high wholesale, low retail range. Now, in today’s market, in many areas the lines of wholesale/retail are somewhat blurred, but we do try our hardest to provide accurate pricing data and our interpretation of that data in the form of our estimates.

Legend Rare Coin Auctions strives to make the experience for both buyers and sellers as streamlined, efficient, and pleasant as possible. Being that our numismatic experts, both Laura Sperber and Greg Cohen are both collectors at heart, we strive to make this as great an experience for everyone involved. To that end, we are always making small tweaks to our systems and operations. You some of these changes you will see, others you will not, but it is all geared to make sure that you always get the best possible service, and best possible coins for your collection!

Regency Auction 29. Our final Regency Auction of 2018 is being finalized. All coins are now in house and being cataloged and photographed. While there are no anchor collections like Hallett or Konstatine, we have nearly 500 hand selected lots from numismatists around the country. One of the things we noticed as the coins came into the office is the freshness of so many consignments. There is a group of first generation PCGS slabbed coins that have not appeared in auction that we can tell. There are selections of gold from the S.S. Central America, both from the first recovery and the most recent second group that came out. Type coins in all series and price points from $1,000 to over $250,000 are included—really something for every collector and every budget. A preview has been posted, but please note: THE DESCRIPTIONS AND ESTIMATES HAVE NOT BEEN EDITED. Changes may be made in the content and estimations before the sale is posted for bidding. So please feel free to make your watch lists, but note that some descriptions may be edited in the coming days.

Here is a list of some highlights:

1C 1856 FLYING EAGLE PCGS PR64 CAC

5C 1912-D PCGS MS67

H10C 1800 PCGS MS63 CAC

25C 1835 PCGS PR63

$1 1840 PCGS MS63+ CAC

$1 1880 PCGS PR67+ CAC

$1 1921 CHAPMAN PCGS PR67

$2.50 1848 CAL. PCGS MS62+ CAC

$2.50 1876 PCGS PR67 DCAM

$2.50 1910 PCGS PR66+ CAC

$5 1811 SMALL 5 PCGS MS64 CAC

$5 1914 PCGS PR67 CAC

$20 1872 PCGS PR63 DCAM

$20 1924-S PCGS MS64+ CAC

50C 1935 SPANISH TRAIL PCGS MS67+

G$1 1852 J-145 PCGS PR66 CAC

We expect to have the Regency Auction posted for bidding around October 19.

October Premier Session. Consignments are now closed for this sale. We have nearly 200 lots, one of our largest offerings yet. We have collector groups of GEM Lincoln cents and a neat group of early Walkers. There are lots of coins again that will fit any collecting budget and area. The sale goes live October 18 and closes on the Sunday October 28. Lots will be available to view at our table at the upcoming Baltimore Expo.

Have a great weekend and start to think about consigning to our 2019 Regency Auctions. We already have some great things lining up which we will discuss when we can! Feel free to email Greg, Julie, or Jessica ([email protected]; [email protected]; [email protected]).

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Spectacular Results Show Renewed Strength in the Market at Legend’s 28th Regency Auction

Posted by on 29 September 2018

Spectacular Results Show Renewed Strength in the Market at Legend’s 28th Regency Auction

Two-Session Auction Brings Record Prices In Bust Halves and High End 20th Century Coins.

(Lincroft, NJ)— Legend Rare Coin Auctions is proud to announce the very strong results of 28th Regency Auction. After 28 Regency Auctions, held as the official auctioneer of the PCGS Members Only Show, Legend has more than proven that their boutique style auctions bring out the most serious buyers and coins consigned bring in prices that exceed similar coins at other auction companies. Featuring 665 hand selected, high quality rare coins, this was the second auction in the firm’s history that required two sessions to present the wide variety of important, historic, and rare coins. Like the firm’s May Regency Auction, the first day’s auction focused on a single denomination, this time being half dollars. The second day of the Regency Auction featured half cents through patterns.

Half dollar day, as it was dubbed, proved that half dollars, “could bring big dollars,” as Laura Sperber put it. The surprise of the session was when lot 172, a monster toned 1958 Franklin half, arguably one of the finest examples of the entire series rocketed out of the stratosphere with a final bid at $129,500, setting a world record for any Franklin half dollar! However, the session was anchored by two important collections, of very popular series. Starting off the Session was the famous Konstantine Collection, the #1 PCGS Registry set of Capped Bust Half Dollars, 1807-1836, featuring the major “Red Book” varieties. This was the first time that we could ascertain that such a set of the 73 major varieties were sold in a single auction, and the results proved to be very strong, thrilling the consignor and all the successful bidders alike, as they were able to acquire some once in a generation coins. Coins like lot 1, the beautiful, Bearded Goddess, which was previously in the Norweb Collection, now graded PCGS AU53 CAC and is among the three finest known kicked off the fireworks when several Bust Half Nuts bid it to $58,750 from an opening bid of $33,000. (Note: all prices realized include the firms 17.5% Buyer’s Premium).

 

“From the moment the Konstantine Collection was announced back in July, every major collector of Bust halves has been waiting for this auction,” said Julie Abrams, President of Legend Auctions. “We took out all the stops in the marketing efforts, including hosting a small gathering of collectors during the ANA show in Philadelphia, where every coin was on display. The event was very well attended by the ‘who’s who’ among serious collectors. These efforts proved to get the strong action going, with a standing room only crowd who came out to the auction to bid in person. This record attendance was led to the impressive list of prices realized below.”

Highlighted results of the Konstantine Collection include:

Lot 1 1807 Bearded Goddess, O-111B. PCGS AU53 CAC realized $58,750

Lot 4 1807 O-114. PCGS MS65 CAC, ex Green-Newman realized $188,000

Lot 14 1812/1 Large 8, O-101. PCGS AU50 realized $31,725

Lot 22 1815/2 O-101A. PCGS MS63 realized $55,813

Lot 41 1823 Broken 3. O-101. PCGS MS64 CAC Ex Green/Newman realized $38,775

Lot 51 1827/6 O-102. PCGS MS66 CAC Ex Pogue realized $36,425

 

“In all, when the hammer fell on lot 73, over $1.3 million dollars were spent on Capped Bust half dollars,” explained Laura Sperber, founder of LRCA. She noted, “for nearly two months, the entire market has been buzzing with excitement for these coins, so going into the session, I knew the Konstantine Collection was going to bring very strong to beyond strong money. My expectations were quickly blown away!”

Following the Konstatine Collection was a great offering of Early, Seated, and Barber half dollars. The selection included the following important highlights that found their way into important collections such great type coins like: Lot 93 1830 Large 0. PCGS MS66 realizing $24,675 and Lot 95 1836 Reeded Edge. PCGS MS64 CAC realized $79,313.

The Sommelier Collection of Early Date Walking Liberty Half Dollars was the second anchor collection, and when the hammer gaveled the last lot, the 25 coins realized over $400,000! Julie Abrams was sitting in the back of the room when the collector “looked back at me at one point and just smiled and gave a huge ‘thumbs up.’” Clearly, they should be happy, just take a look at these amazing results:

Lot 110 1917-D Obverse. PCGS MS65+ CAC realized $21,150

Lot 115 1918-D PCGS MS65 CAC realized $27,025

Lot 121 1920-D PCGS MS65 CAC realized $27,025

Lot 125 1921-S PCGS MS65 CAC realized $117,500

Lot 128 1928-S PCGS MS65 CAC realized $15,863

 

The session ended with additional Walking Liberty, Franklin and Classic Commemorative Half Dollars from various consignors. Franklin Half Dollars have really become a very popular series recently. Whether the market for them is maturing and realizing enough time has passed that they can now be considered a classic series in the annals of American Numismatics. Either way, there are many serious collectors vying for the very finest. Two such coins were offered in the Half Dollar Day auction session, far surpassing any previous records, and bringing prices that are just way beyond “moon money”! The first was the aforementioned record shattering realization of $129,500 for the magnificent and wildly toned 1958 and the finest 1949-S half dollar, also graded PCGS MS67+ FBL CAC realized $31,725.

Other highlights:

Lot 142 1920 PCGS MS66+ CAC realized $31,725

Lot 146 1929-D PCGS MS67+ CAC realized $82,250

Lot 150 1938-D PCGS MS67+ CAC realized $41,125

Lot 156 1943 PCGS MS68 CAC realized $35,250

Lot 161 1947-D PCGS MS67+ realized $34,075

Lot 188 1935 Hudson. PCGS MS67+ CAC realized $22,913

 

The second session of the 28th Regency Auction took place on Thursday evening, September 27. You could sense the how active bidding was going to be the moment the sale opened, as many collectors added great coins to their collections. Twentieth century coins, had great results overall. The Hallett Collection of Mercury Dimes, the current #5 and all time #9 Registry set brought impressive prices. “It is not often that a top ten Registry Set comes up for auction, and the prices prove that when a great collection comes up, the buyers run out to buy the coins. In many cases our estimates proved way too low,” Julie Abrams said. The surprise of the collection was lot 367, the PCGS MS67+ FB CAC 1925 dime that realized $25,850 on an estimate of $3,500 to $4,000. Other Mercury dimes consigned alongside the Hallett coins fared extremely well, with beyond moon money realized for multiple coins including. Overall the prices were indicative of the overall market, with great coins selling for great prices. 

Highlights of the second day’s session include:

Lot 214 1C 1839 Silly Head, N-4. PCGS MS66 BN CAC realized $14,100

Lot 225 1C 1877 PCGS PR66 RD CAM realized $29,375

Lot 238 1C 1911-D PCGS MS67 RD realized $61,688

Lot 291 5C 1926 PCGS MS67+ CAC realized $16,450

Lot 312 H10C 1849 PCGS PR66 CAC realized $52,875

Lot 322 10C 1845-O PCGS MS63 CAC realized $58,750

Lot 340 10C 1911 PCGS PR68 CAM CAC realized $36,425

Lot 413 10C 1942/1-D PCGS MS65 FB CAC realized $28,200

Lot 421 10C 1945 PCGS MS65 FB realized $15,275

Lot 430 10C 1923 PCGS MS68 FB CAC realized $18,800

Lot 431 10C 1923-S PCGS MS66 realized $105,750

Lot 438 10C 1968 No S. PCGS PR68 CAM realized $39,950

Lot 497 $1 1885-O PCGS MS67 CAC realized $11,456

Lot 529 $1 1892 PCGS MS66 realized $49,938

Lot 538 $1 1903-S PCGS MS66+ CAC realized $25,850

Lot 545 $1 1900 PCGS PR67 DCAM CAC realized $52,875

Lot 570 $2.50 1866 PCGS PR65 DCAM CAC realized $79,313

Lot 572 $2.50 1890 PCGS PR66 DCAM CAC realized $37,600

Lot 584 $3 1881 PCGS PR66 CAM CAC realized $73,438

Lot 609 $10 1912-S PCGS MS65 realized $36,425

Lot 621 $20 1870-S PCGS MS63 CAC realized $76,375

Lot 633 $20 1907 High Relief, Wire Rim. PCGS MS64 CAC realized $34,075

Lot 646 $20 1915 PCGS MS65+ CAC realized $55,813

Lot 658 $1875 J-1426. PCGS PR65 CAC realized $70,500

 

Laura Sperber noted after the last lot sold on Thursday evening, “The market is continuing to show renewed strength, as new, well-healed collectors are building epic collections. Whether they are working on one set, or many different projects, if they see a coin they need, they just go after it. In the current environment, clearly PCGS/CAC coins were bringing the absolute strongest realized prices throughout the auction. These collectors equate PCGS/CAC with the best quality coins.”

“The market for high quality rare coins is healthy, robust, and we are seeing lots of new names and faces. The public turnout at the PCGS Members show was very large, larger than normally seen. We know with so few opportunities going into the last months of 2018, there will be only a few more opportunities to buy great coins. Legend’s 29th Regency Auction, being held of November 15 in San Antonio will be one of the last, and we have lots of great coins consigned to that sale,” noted Julie Abrams. “Consignments are now closed, but we are always taking consignments for upcoming auctions, so give us a call. Our boutique auction venue gets the best prices for the best coins!”

 

 

 

 

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September Pre-Regency Auction Market Report

Posted by on 21 September 2018

Last week’s September Premier Session saw very active bidding during the final hours. However, due to a few last minute bidders that turned out to be fraudulent, we have changed our rules regarding registrations. For all auctions, we may decline online registrations to new bidders two hours before the sale. Buyers with a confirmed bidding history with LRCA will still be allowed to register throughout the close of the auction. Bidders without any history must be available to be contacted by an LRCA representative, and have verifiable references that they can provide. For Regency Auctions, any new registrant is encouraged to call us to place absentee or phone, or obtain pre-approval. As always, we suggest bidders register as early as possible for approval, regardless of when they intend to place their bids.

 

The Premier Session in September did well despite the issues. The colorfully toned Commemoratives did very nicely, our consignor called right after the sale to comment on how happy they were with the results.

 

This is the last weekend to bid before we go to Vegas for the Regency Auction. This will be the event of the season! Registered bidders are invited to a pre-Auction reception on Wednesday, where our partner and friend, Bruce Morelan will be displaying three of the greatest numismatic treasures that exist: the Specimen 1794 silver dollar (the most valuable U.S. coin to ever sell in auction, the first one to sell in excess of $10 million!), the Dexter-Dunham-Pogue 1804 dollar, and the Eliasberg-Smith 1913 nickel! This is a very important and unique opportunity to view these three major rarities and speak to the world-class collector who owns them. Register to bid and RSVP to [email protected]. You must be a registered bidder to attend.

 

Speaking of registrations, we are looking at a RECORD number! The strong pre-sale bidding activity continues. We can tell you that if we closed the sale where it sits now, it would have a good number of record auction results. As always, we appreciate all the bidders and if we can do anything to assist you, never hesitate. This weekend, call our auction cell 732-233-0719 to discuss any coin in our sale. This is also last call for phone bids, extended payment terms, or increased bid limits. We need to be able to process all these requests and follow up with references by Tuesday morning. Contact us today, email Julie Abrams directly at [email protected] . For questions about specific coins, either call the cell phone number, or email Greg Cohen at [email protected].

 

There are so many ways to bid! If you are attending the PCGS Member’s Show, come to the auction in person. If you cannot make the show, you can bid prior to the sale at legendauctions.com. Register to bid ahead and place pre-bids. You can also bid live during the sale online, remember you must register to bid at least two hours before the start of the session. You can also place absentee bids with any of our staff members or set up a phone bid appointment. The last two options are best set up at least a few hours in advance.

 

LAST CALL FOR CONSIGNMENTS. We are in the final week to consign to our November Regency Auction. We need your coins no later than September 28. The November sale will have many great coins, here is a partial list of highlights already in house:

 

1C 1814 CROSSLET 4. PCGS MS66 BN

2C 1871 PCGS PR66 RD CAM CAC

20C 1878 PCGS PR66+ CAC

25C 1835 PCGS PR63

$1 1921 CHAPMAN PCGS PR67

$2.50 1894 PCGS PR67 DCAM CAC

$2.50 1910 PCGS PR66+ CAC

$20 1866-S NO MOTTO. PCGS AU55 CAC

10C 1879 J-1589. PCGS PR65+ RB CAC

 

Also consigned is one of the largest selections of classic commemoratives we have had the pleasure to sell. We think if more Commems looked like the ones in our offering, the market would certainly be better. We also have lots of gold, including C, D, CC, and O mint issues in popular AU grades! More highlights will be listed next week after the close of Regency Auction 28.

 

Talk to Jessica Berkman, Julie Abrams, or Greg Cohen to discuss consigning. We are also taking consignments for our upcoming Premier Sessions Internet Only Auction in October. [email protected]; [email protected]; [email protected] or call the office 732-935-1168.

 

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September 16, 2018 LRCA Market Report

Posted by on 16 September 2018

The September Premier Session closes TONIGHT, beginning at 9pm eastern. Get your bids in today! There are lots of cool, affordable, highly collectible, fresh, and high end coins. In all, 164 hand selected lots are being offered, and there are many coins that at their current bid levels that seem like great deals. Take a look!

 

The bidding for the Regency Auction 28 continues to be impressive, with some coins already bid well past estimate ranges. Catalogs have hit the mail boxes this week. If you are not on our mailing list, you can see a digital version of the catalog on our site, and flip through the pages, as you would with a physical copy. Going through the 665 lots, you will certainly find something that will fit into your collecting interests, or perhaps find a new area to collect. From Capped Bust and Walking Liberty half dollars, early Commems, Buffalo nickels, Mercury dimes, and better date gold coins, there is enough of an offering to set you on your way to a new area to collect, at any price point from $1,000 to over $300,000!

 

A few thoughts about producing an auction. There has been some feedback received about a few coins in our upcoming sales. Some was about specific coins, others were about photography. We would like to address these in a very general way.

 

First, in cataloging, we strive to offer extremely accurate descriptions about the coin we are looking, and provide pricing data relevant to THAT specific coin. Coins consigned to us may have appeared in previous auctions, at a lower grade. The consignor may have successfully upgraded the coin and put the coin into our auction sale. While certain collectors may have the time to research every previous auction record for a specific date/mint, we cannot always do that. Honestly, if a coin crosses from NGC to PCGS or upgrades, we look at the coin as it is currently presented, and that is how we offer it. It is not really our place to say to a consignor “hey, we know this coin was graded “X” a year ago, and now it is “X+” or “Y”, so we cannot let you place a value for an “X+” or “Y”. In the same vein, we know about transactions that happen privately that are not reported in online pricing databases, and use that info in aiding in estimates for them—if the information is widely known among dealers, we will mention it in the pricing data.

 

Second, we strive to have very accurate photographs in our catalogs. Our photographer works extremely hard to get the best possible images that bring out the luster, surface cleanliness, strike, color, etc. Anyone who has any experience in shooting coins knows that slight variations in the angle shot and lighting (brightness, type of light, distance from the lens and other issues) can greatly affect the way a coin looks. Change the angle and lighting slightly and the same coin can look dramatically different. Unfortunately, there are times when there is just not enough time to change up angles and reconfigure lighting. Sometimes, the images accentuate marks, that are not as severe in hand; sometimes color is more subdued; sometimes the luster does not bloom as much as it does in hand. We try to, when possible, locate and use PCGS True View images, but this is not always an option, especially on coins in older holders or NGC-graded coins.

 

In summary, Legend strives to make sure that the coins are accurately represented in both the descriptions and photographs, giving our bidders confidence to bid on any coin in our auction with out having to see them in hand and be happy with their purchases. If there  are egregious errors in cataloging (which is a very rare occurrence) we will make corrections to the description. With hundreds of descriptions and images, we cannot always make minor corrections in descriptions that are requested.

 

LRCA is always striving to be the BEST auction firm in the business. Our growth and the smashing of record prices have proven that we have been able to fill an important place in the numismatic market.

 

Have a great weekend and do not forget to bid—happy collecting from your friends at LRCA.

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September 2018 Long Beach Expo Market Report

Posted by on 7 September 2018

Greetings from the Long Beach Expo bourse floor, from our table 601.

WOW, is the bourse floor is DRY! There are not many LRCA caliber coins floating around. Jessica and Laura spent hours scouring the show for consignments for upcoming auctions. They found very little. We note that the market is doing just fine, just looking at bidding on the two LRCA events currently open for bidding, demand is very strong (more on this below). We think the massive ANA auctions are still being digested (between the two official events, there were over $80 million in U.S., World, Ancient Coins and U.S. and World Banknotes). You can see this playing out in the somewhat smaller than normal auctions that took place this week.

Collectors and dealers alike came by our table to review our two September auctions, the Regency Auction 28 and the September Premier Session (which opened for bidding last night). Every comment has been very positive regarding the amazing quality of the coins being sold. We cannot wait to see the printed catalogs, which will be hitting mail boxes next week.

September Premier Sessions.

There are 164 hand selected lots in this sale, featuring many really cool coins for collectors of all areas, just take a look at some of these highlights, but also you really should take a look at the very pretty toned collection of 1936 commemoratives. This group is very fresh and totally original, and includes some GOLD CAC pieces.

Other highlights are:

Lot 2. 1C 1877 PCGS MS64 RB

Lot 15. 2C 1872 PCGS MS64+ RB

Lot 41. H10C 1795 PCGS AU50 CAC

Lot 52. 25C 1796 PCGS AG3 CAC

Lot 61. 25C 1920-D NGC MS64 FH

Lot 78. 50C 1957 PCGS MS67 FBL CAC

Lot 98. $1 1893 PCGS PR66 CAM CAC

Lot 111. $5 1844-D PCGS AU58

Lot 123. $20 1865 PCGS AU53 CAC

Be sure to get your bids in, the sale will close live, Sunday, September 16, beginning at 9pm eastern.

Regency Auction 28.

Really is hitting its stride, it is strong and continuing to build! This sale is going to be a blockbuster! It really proves that quality is paramount in today’s market. If registrations continue on the pace they have in the first week, this will have, by far, the largest number of bidders participating, and that will result in very strong bids. There is a lot of excitement surrounding this auction. Collectors and dealers have been talking about this sale since it was posted last week, and the amount of buzz around it is very strong. Be sure you get all your ducks in a row. If you need to make any presale arrangements, such as lot viewing in our office, phone bidding, payment considerations, or any other issues, please call us at 732-935-1168.

We are also hosting, along with our friends at PCGS, a special party on the afternoon of Wednesday, September 26, from 3-5pm in the Clique Bar and Grill at the Cosmo. We will have on display, three of the most valuable U.S. Rarities, all part of our partner, Bruce Morelan’s personal collection:

The 1794 silver dollar in PCGS Specimen-66 CAC from the Neill, Carter, Cardinal Collection; the Dexter-Dunham-Pogue 1804 dollar in PCGS PR65; and his most recent acquisition, the famed Eliasberg 1913 nickel in PCGS PR66 CAC. This party is open to any registered bidder who is in attendance in Las Vegas, and gives you an opportunity to meet with Bruce and Laura, to discuss these WORLD CLASS rarities!

 

Closing thoughts for this week:

Legend Rare Coin Auctions pledges to be a firm that you can always count on to have the best coins, and best experience, whether you are a buyer or seller. We may not be the oldest or largest auction company in numismatics, but by living by our motto, “a happy buyer, makes a happy seller,” we strive to be the best. To this end, LRCA will always make adjustments to our process to make sure that your experience is always the best.

As always, if you have any questions, or to consign, do not hesitate to call or email. You can reach Julie Abrams, president, at [email protected]; Greg Cohen, senior numismatist, at [email protected]; or Jessica Berkman, consignment specialist, at [email protected]. Or call 732-935-1168.

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End of August Market Report

Posted by on 31 August 2018

BOOM! Just like that, the moment Regency 28 opened for bidding on Wednesday afternoon, bidding took off like a rocket! Within 24 hours, bidding already hit over $1 million! Clearly, the Konstantine Collection already has lots of action, as does the Hallett Mercury dimes and the Sommelier Walkers. For the amount of time the auction is open, we have a record number of registered bidders and watchers. At this rate, we know the record books are going to have to be updated!

 There are 665 lots in the sale, with a pre-sale estimate of over $7.1 million. Only the May Regency Auction, with over 800 lots was bigger. Know that even as these Regency Auctions have gotten larger, our quality standards have not slacked. There were over 100 coins that did not make the cut. Our bidders can rest assured that our world class numismatic experts have personally vetted the coins and they have been approved for quality and  value.

 Take a look at some of these highlights:

3CS 1870 PCGS MS67+ CAC FINEST KNOWN

5C  1926-S PCGS MS65+ CAC  TIED FOR FINEST-A REAL MONSTER

10C 1845-O PCGS MS63 CAC  SECOND FINEST KNOWN

25C 1916 STANDING PCGS MS67 FH

50C 1929-D PCGS MS67+ THE FINEST KNOWN

50C 1958 PCGS MS67 FBL CAC ONE OF THE WILDEST TONERS EVER

$1  1885-O PCGS M67+ CAC   MONSTER COLORS

$2.5  1866 PCGS PR66 DCAM CAC

$3  1881 PCGS PR66 CAMEO CAC

$20 1870-S PCGS MS63 CAC

J-1426 $1 1875 PCGS PR65 CAC Seashore Pattern

Highlights will be brought to the Long Beach Expo, stop by our table (#601 right in the front) to view. NOW is also the time to talk to us about all requests regarding lot viewing, payment options, phone/absentee bidding, bid limit increases, etc. With a sale like this, we know there is going to be lots of these types of requests (we have already had several requests for mail inspections; these must be done on a first come first serve basis, so get your requests in ASAP!).

Bidding opens next week for the September Premier Session. The sale contains 164 lots and there are lots of really FRESH, high quality GEMS for the collector in all areas. Again, a very fresh group of toned Classic Commems comes to the fore, along with great type and gold coins, including selections of 2c pieces and Standing Liberty quarters. The sale is now posted in order, and the full cataloged listing and images will be up shortly, and bidding will open on September 9, and closes on the 19th. Get your watchlist started!

CONSIGN TODAY! We are now accepting consignments for the November Regency Auction 29. Be a part of the last Regency Auction in 2018. Look over the first three Regency Auctions of 2018, take a look at the awesome results! Let us do for you what we did for hundreds of very happy consignors this year! If you have coins to consign and are going to the Long Beach show, be sure to speak to any of our auction reps at table 601.

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August 24 Market Report.

Posted by on 24 August 2018

August Premier Sessions. The week started out, on Sunday night, with the August Premier Sessions closing. The sale was a very large success, we had many bidders come in at the last minute. Bidding was drawn out with mini-bidding wars breaking out on several coins, including the 1860 and 1868 Proof dollars and several of the gorgeous Peace dollars. We proved that even in the middle of the crazy ANA week and the dozen+ sessions of auctions being held, demand for QUALITY rare coins is so strong that our sale ended as a huge success. Thank you to all the consignors and bidders!

 

THE SEPTEMBER REGENCY SALE

 WHOA! The sale is now in the final stages of cataloging. We will be done today, and then the proofreading and layout will begin. We estimate this sale to be valued at a minimum of $6,000,000.00!  The total lot number is 665. This will be a two day sale. We are thrilled every lot has a coolness factor that is off  the charts! Clearly this will be our biggest and best sale ever. You really need to check it out. We have been updating listings and images will be posting soon. By the time we publish our next market report, bidding should be available.

 As we mentioned last week, we took a lot of consignments at the ANA show. Many very high end rarities, all quality oriented. As we were cataloging the coins, there were many coins that made us drool. Our Half Dollar Day auction features over 200 half dollars, not just anchored by the Konstantine Set, but also the Sommelier Collection of Early Walking Liberty Half Dollars. This GEM set of coins from 1916-1933-S is a remarkable offering, including the Dakota 1921-S in PCGS MS65 CAC (and old friend from Legend Numismatics). Awe inspiring Toned Commemoratives will close out the Half Dollar Day, with an offering that includes a fresh group recently graded out of an old Wayte Raymond board. Lots of high end Buffalo nickels will cause a stampede of collector bidding, especially when the 1926-S PCGS MS65+ CAC crosses the block it is a classic in the series! Consigned alongside the Hallett Collection of Mercury Dimes are other Mercury dimes, including amazingly toned and preserved examples of the 1916 and 1923, both graded MS68 FB by PCGS and endorsed by CAC. Rather than have us list out all the great coins, take a look over the weekend as we update the listings and start making your watch lists.  Hundreds of collectors have already begun to do so!

 

The September Premier Sessions is next up, with cataloging in full swing. This sale also has a great mix of coins with details to follow next week. Two highlights: A beautiful GEM Lafayatte PCGS MS65 CAC and a gorgeous H10C 1795 PCGS AU50 CAC.  IT will be posting for bidding September 9, and we will have highlights at our table at the Long Beach show.

 

CONSIGN NOW for the November Regency Auction. We have just over three weeks until our next deadline for the November Regency Auction. Get your coins in NOW. Contact Jessica, Julie, or Greg to discuss your holdings. Consignments have started coming in already. Our consignment specialists will work with you from start to finish. This personal touch has kept consignors coming back time after time! If you have not consigned with us yet, make plans to do so, and our San Antonio Regency Auction will be a great venue to consign to!

 

If you would like to consign, or have any questions, Julie Abrams can be emailed at [email protected]; Greg Cohen is at [email protected]; and Jessica Berkman is at [email protected]

 

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The 2018 ANA World’s Fair of Money

Posted by on 18 August 2018

What an amazingly active ANA show! Thank you to everyone who came over to the table over the course of the week. While attendance seemed lighter, all the major collectors were there. We had such a great time meeting and talking with clients old and new about our upcoming auctions. No question the amazing Konsatine Set was a hit. 

 A REMINDER OUR PREMIER SESSIONS SALE CLOSES TOMORROW STARTING 9 PM. CHECK IT OUT NOW! 

 THE MARKET:

 First let us congratulate our parent company Legend  Numismatics  and our partner, Bruce Morelan (along with the long time Legend customer) on the purchase of the amazing Eliasberg 1913 nickel, which is the finest of the 5 minted, graded PCGS PR66 CAC.

The massive ANA auctions were mixed. Fresh, quality rare coins sold very well, bringing strong prices. But, coins that were off quality were very mixed and spotty. It also didn’t help that gold dropped over $20 an ounce earlier in the week. But collectors took advantage and added coins to their collections. For more info, you should check out our sister firm, Legend Numismatics’ market report.

REGENCY AUCTION 28.

 We had highlights of our September Regency Auction 28 on display, including highlights from the Konstantine Collection. Big crowds we standing around looking at the coins. The Konstantine coins were among the most talked about display at the show! Bust half dollar collectors from all over the country got their first chance to look at this historic offering. In fact we did have a special preview event that was very well attended on Wednesday evening. The Bust half collecting world is now waiting with restless anticipation until the auction on September 26.

 Today was the consignment deadline. We are coming home with over 150 hand selected rare coins for the sale. We screened over a hundred other coins that did not make the cut. We are very happy with the quality of the coins we will be offering and there are many really important and interesting coins in all series.

Just a few of the highlights  we picked up at the show include:

 1C 1794 Head of 1794, S-32. PCGS MS65+ RB

5C 1926-S PCGS MS65+ CAC

10C 1874-CC Arrows. PCGS XF45

10C 1923 PCGS MS68 FB CAC

50C 1830 O-101. Small 0. PCGS MS66 CAC Ex Eliasberg

50C 1929-D PCGS MS67+ CAC

$1 1903-S PCGS MS66+ CAC

$1 1892 PCGS PR67+ CAC

$2.50 1900 PCGS PR67+ CAM CAC

$5 1871-CC PCGS AU55

$20 1907 High Relief- Wire Edge. PCGS MS64 CAC

50C 1879 J-1529 PR67 CAM CAC

Stay tuned as we catalog and photograph all the coins and update the site with the coins. We should have everything posted, in sale order, by the end of the week. Be sure to start your watch list soon! 

AUGUST PREMIER SESSION.

 BID NOW! The sale closes tomorrow night beginning at 9pm. Despite being open during the massive ANA auctions, the bidding action has been intense! As we expected the Peace Dollar collection is being very actively bid on with strong prices already being attained on many of the coins. The fresh group of Toned Morgan dollars is also seeing lots of action. Be sure to get your bids in NOW! 

 SEPTEMBER PREMIER SESSION:

 You have only a few days left to consign! We need all coins in house by Wednesday. Talk to Julie or Jessica to get your coins included! If you have been participating in our Premier Sessions auctions, you know that the same numismatic experts that vet and describe the coins in the Regency Auctions, work on every coin in the Premier Sessions. If you have not consigned to one, September’s session has many great coins to consign along side. Julie and Jessica are there to work with you from start to finish, and the Premier Sessions are governed by some of the BEST terms in the business! See what makes Legend’s Premier Sessions different from EVERY OTHER internet auction!

As always, if you have any questions, please contact Julie Abrams ([email protected]); Jessica Berkman ([email protected]), or Greg Cohen ([email protected]). 

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Member Associations

Prices Realized

Highlights

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