Report from New Orleans: PCGS Trade and Grade Active!

HIGHLIGHTS FROM THE LEGEND REGENCY SALE

1942-S Mercury Dime, PCGS MS-68 FB Realized $8812.50

1936-D Rhode Island Half Dollar, PCGS MS-68 CAC Realized $43475.00

1883 Hawaii Quarter Dollar, PCGS PR-67 CAM CAC Realized $61687.50

Although we did not attend last week’s PCGS Trade and Grade in New Orleans, the reviews of the show seem to be mostly favorable. Historically, this show, which is smaller in number of attendees but includes several major rare coin firms, is hit-and-miss. The primary reason for the inception of Trade and Grade was to create a small and exclusive venue for the purpose of submitting coins for on-site grading. Throughout the years, PCGS and Collector’s Universe have developed this show into something much more. Now it resembles a mid-size regional coin show with a corresponding auction, and of course, the option of on-site grading. One of our super-secret, stealth salespeople brought coins to New Orleans on our behalf, and did exceptionally well selling them. His/her comment was, “The show was almost equally as good as Central States. It far exceeded my expectations.” The Legend Regency Auction had some equally impressive results, with most lots sold, and many exceeding their aggressive pre-auction estimates. With good reason, we remain positive about the state of the rare coin market. We stand by our observations that this is a collector-dominated marketplace, largely void of  both investors and speculators. Furthermore, although metals have remained somewhat steady, they have by no means been bullish. So, we are also lacking that element and the potential business that it brings to the table.  Yet, the coin market still chugs along, with solid support in almost all areas. This is an encouraging trend, and we see no reason to believe that it won’t continue into the summer months.