Legend Auctions?

[MarkFeld]

Perhaps I'm confusing him with another dealer.

 

Whitlow went PCGS only... not sure if he still is. RCW seems to be NGC only these days - at least in their ads they are.

 

your people told me I can't afford to buy your coins!

 

Whaaaaaa! You're just as bad as she is... you've been presented with a very logical explanation based on common industry practice, yet you continue to go out of your way to denigrate Legend at every opportunity. Pot. Kettle. Black.

Bill, I must agree with Bruce on the "can't afford to buy your coins" part, and I believe I was the one who explained it to you and others, previously. I have been told "you can't afford that coin" by George of Legend on more than one occasion. It simply meant that the coin was priced extremely high and he knew I wouldn't buy it. The comment had nothing to do with whether I could actually "afford" the coin or not, and I was never offended by it. In fact, I appreciated that he was trying to save me time and/or effort and/or frustration.

[gmarguli]

Bill, I must agree with Bruce on the "can't afford to buy your coins" part, and I believe I was the one who explained it to you and others, previously. I have been told "you can't afford that coin" by George of Legend on more than one occasion. It simply meant that the coin was priced extremely high and he knew I wouldn't buy it. The comment had nothing to do with whether I could actually "afford" the coin or not, and I was never offended by it. In fact, I appreciated that he was trying to save me time and/or effort and/or frustration.

 

It is possible for the same "you can't afford that coin" statement to be meant two different ways:

 

Legend's meaning when said to Mark: I know you're a dealer and honestly, the coin is priced so full that you can't make money on it. It needs to go to a retail client.

 

Legend's meaning when said to Bill: The state quarter section is to the back of the hall. Get lost piker.

 

As I understood it, Laura did not know Bill when she made the statement, so it very well might have been intended as a slap at him. Or it could have meant it was priced full retail. We'll never know...nor will many ever care.

[MarkFeld]

Bill, I must agree with Bruce on the "can't afford to buy your coins" part, and I believe I was the one who explained it to you and others, previously. I have been told "you can't afford that coin" by George of Legend on more than one occasion. It simply meant that the coin was priced extremely high and he knew I wouldn't buy it. The comment had nothing to do with whether I could actually "afford" the coin or not, and I was never offended by it. In fact, I appreciated that he was trying to save me time and/or effort and/or frustration.

 

It is possible for the same "you can't afford that coin" statement to be meant two different ways:

 

Legend's meaning when said to Mark: I know you're a dealer and honestly, the coin is priced so full that you can't make money on it. It needs to go to a retail client.

 

Legend's meaning when said to Bill: The state quarter section is to the back of the hall. Get lost piker.

 

As I understood it, Laura did not know Bill when she made the statement, so it very well might have been intended as a slap at him. Or it could have meant it was priced full retail. We'll never know...nor will many ever care.

Greg, it's possible, but I believe, highly unlikely. I'm not even sure that Laura was the one who made the comment. If it turns out it was George, that would make it even more likely that the remark meant the same for Bill as for me.

[Tradedollarnut]

It wasn't Laura - other than that, Bill doesn't even know who it was. There's a perfectly innocent explanation for the whole thing, yet Bill continues to blow his horn over it. He's as bad as Laura.

 

And let's not forget he professes to be a dealer and expects to be treated like a dealer. Grow up!

[Keleum]

I was referring to a different class of dealers than you, Mark. Maybe slab pushers is a better term. They seem to me, to get "contracts" with PCGS, and then play the market (aka me).

 

This position A & position B thing with the new dollars, that PCGS started. Just smells funny to me. How do you get a first day of issue in a label that didn't exist at the time. I can understand holding back inventory but "back-in-time" production runs?? Can they hold this stuff for years and then flood the market with coins that are graded to a different standard but have the same "magic" label.

[123cents]

Can't people just forget about what he or she said? The past is just that, The past!! Coins are suppose to be interesting and fun not something to constantly argue about.

[TomB]

DLRC has sold PCGS, NGC, ANACS and ICG slabbed coins for many years. In fact, DLRC was late getting into the market for selling primarily slabbed coins since David Feigenbaum (Lawrence) sold raw Barber coinage nearly exclusively up until the late 1990s.

[stev32k]

DLRC has sold PCGS, NGC, ANACS and ICG slabbed coins for many years. In fact, DLRC was late getting into the market for selling primarily slabbed coins since David Feigenbaum (Lawrence) sold raw Barber coinage nearly exclusively up until the late 1990s.

 

This is off topic - how about starting a different thread.

[TomB]

DLRC has sold PCGS, NGC, ANACS and ICG slabbed coins for many years. In fact, DLRC was late getting into the market for selling primarily slabbed coins since David Feigenbaum (Lawrence) sold raw Barber coinage nearly exclusively up until the late 1990s.

 

This is off topic - how about starting a different thread.

I'm not quite certain what the meaning of your post was. Care to elaborate?

[MunkyMan95]

DLRC has sold PCGS, NGC, ANACS and ICG slabbed coins for many years. In fact, DLRC was late getting into the market for selling primarily slabbed coins since David Feigenbaum (Lawrence) sold raw Barber coinage nearly exclusively up until the late 1990s.

 

This is off topic - how about starting a different thread.

I'm not quite certain what the meaning of your post was. Care to elaborate?

 

I think he was confused (as was I) why you started off on DLRC in a thread about Legend's auctions.

[TomB]

Well, if you took the care to see whom I replied to (gmarguli) you may have noted that Greg stated that he thought DLRC was, until recently, a PCGS-only shop. Therefore my reply, which was to Greg's hypothesis, made complete sense and was within the conversational flow of the thread.

[MunkyMan95]

Well, your post was a few posts after Greg's, and you didn't quote Greg in your reply, so it got a little confusing. I see now that it does fit.

[TomB]

Well, your post was a few posts after Greg's, and you didn't quote Greg in your reply, so it got a little confusing. I see now that it does fit.

It surprises me that something so simple could be so confusing.

[RGT]

Some people have very short attention spans.

[gmarguli]

Well, your post was a few posts after Greg's, and you didn't quote Greg in your reply, so it got a little confusing. I see now that it does fit.

 

You can see who a person is replying to by looking at the header of their post. If confused, click on the name and it brings up the exact post.

[MAULEMALL]

Well, your post was a few posts after Greg's, and you didn't quote Greg in your reply, so it got a little confusing. I see now that it does fit.

 

You can see who a person is replying to by looking at the header of their post. If confused, click on the name and it brings up the exact post.

Thats why he is - Greg, Official Message Board Ambassador™

[stev32k]

DLRC has sold PCGS, NGC, ANACS and ICG slabbed coins for many years. In fact, DLRC was late getting into the market for selling primarily slabbed coins since David Feigenbaum (Lawrence) sold raw Barber coinage nearly exclusively up until the late 1990s.

 

This is off topic - how about starting a different thread.

I'm not quite certain what the meaning of your post was. Care to elaborate?

 

I'm just not sure how we got from Legend auctions to dealers that only sell PCGS coins, but I guess that's OK if that is where the conversation is going. Sorry I said anything.;

[Houston Investor]

I would like to see Laura join us. She would certainly liven thing up.

 

PLEASE NO!!!

 

That woman is foul mouthed and mean-spirited She brings nothing to the table when it comes to providing numismatic knowledge on a forum like this. What she does bring is a lot of self-serving rhetoric about how she and a few of her dealer cronies are honest and knowledgeable and how anyone who is not part of her clique are “wannabes.” Of all the people who were banned from the PCGS forum, she was only one I thought deserved it.

 

Well put - However, I do think many of the others banned from PCGS certainly deserved it. Its unbelievable how someone who is a PCGS dealer would want to run afoul of PCGS anyway, especially with the kinda bucks they have invested in their PCGS inventory. Its like they are shooting themselves in the foot. Take a really close look at some of these big name dealers coins - do you really think they make the grade? I am not going to express my opinion, but would be interested in yours. When the big ticket PCGS dealers submit to PCGS don't you think the graders know who's name is on the invoice?

 

Yes someone (who hardly knows me) can make fun of me on a public message board that I am a wannabe who does widgets, but one thing I am proud of is when I found out from a collegue about what other dealers said about me at a show one time "if it says MS 65 on one of his coins, its MS 65."

 

I remember I was sharing a table with a friend at a well known national show and remarking "how can x (a large inventory slab dealer) wholesale to the public like that and make any money. My friend commented "don't you see, they recognize his name is on the invoice when he sends them in." That same show a guy came up offering me some MS 66 commems he had bought from x a while back. They all looked like they had been runover by a truck - I am not sure even the "sight unseen" market would have wanted them. I told the collector "who graded these? No way these coins are MS 66." He then took them back to x to sell and my friend told me "hope what you said does not get back to x" I said "so what the heck if it does, what x isn't gonna come over and buy from me stuff I am wholesaling?" It must not have as the next show x bought from me a really nice slabbed (I won't say who graded it) 1882-CC Dollar in MS 65 (beautiful gem with super cartwheel luster) he was possibly buying for resubmittal for a higher grade. I don't believe it would have made it without multiple resubmissions and a blind as a bat day for the graders but with x's name on the invoice - who really knows?

[DC Dawg]

My friend commented "don't you see, they recognize his name is on the invoice when he sends them in."

Are you saying some unnamed TPG will give preferential grading to a dealer who submits a high volume of coins for grading? If that is the case, then couldn't it be said that the grading from that TPG is tainted (for lack of a better word)?

 

Scott

[MarkFeld]

When the big ticket PCGS dealers submit to PCGS don't you think the graders know who's name is on the invoice?

Count me among those who don't believe that.

[WoodenJefferson]

Years ago this may have happened...a paper trail following submissions, but with todays technology along with paperless systems, bar codes, scanners etc., everything done in between is no more than a click, scan, type, enter. Nobody but the person who opens the box and then the person who closes the box, know exactly who's coins they were and where they are heading.

 

Welcome to the future.

[Houston Investor]

I would believe the graders at ICG don't know who's name is on the invoice.

[MikeKing]

When the big ticket PCGS dealers submit to PCGS don't you think the graders know who's name is on the invoice?

Count me among those who don't believe that.

 

needed to hear that, thanks.

[MercP]

I can't comment on PCGS's grading, because I have never sent anything to them. I just can't see paying for the privilage to pay to summit coins to them. I summit coins to NGC through my ANA membership. However, too NGC I am sure I must be small time and yet I have still received several very nice grades. Therefore, I am sure the name on the summission form has little to do with the grades.

 

MercP

[Houston Investor]

Interesting comments, but how do you really know they don't? Is this certified by an independent third party similar to audited financial statements? Perhaps I should send some of you some unaudited financial statements so you can lend me money. I don't really care a hoot about the opinion of some dealer or collector - I formulate my opinions from looking at coins on the bourse, etc. And what always bugs me when contemplating an expensive purchase on a coin which does not really look that solid for the grade is did the TPG know who's name was on the invoice? One point of grade on classic coins can mean thousands of dollars of perceived value and sometimes how the bigger fool theory plays out. What you have to really ask yourself is that particular coin really worth the money or that big of a premium? Are you making some crackout artist a huge profit because your buying it? What does it grade in your opinion and where does it fall in the grade range? Remember, in numismatics he who has knowledge is king and the bigger fool ends up being the end user at the end of the food chain.

[Houston Investor]

I too submit to NGC thru the ANA and find their grading competent and service satisfactory. I also like submitting to ANACS (Americas oldest grading service and right here in Texas) and ICG.

 

I like NGC as they are the grading service of the ANA and PNG which really enhances the marketability of their product.

[MarkFeld]

I too submit to NGC thru the ANA and find their grading competent and service satisfactory. I also like submitting to ANACS (Americas oldest grading service and right here in Texas) and ICG.

 

I like NGC as they are the grading service of the ANA and PNG which really enhances the marketability of their product.

NGC is "the grading service of the ANA and PNG" because of paid endorsements. You are literally the first dealer or collector I've heard indicate that it increases the marketability of the NGC product in any way. I know of no informed/knowledgeable buyer/collector who is swayed in the least by that type of endorsement.

[Houston Investor]

Sip your Kool Aid but NGC's integrity is a fact and this certainly has led to sales for me on the bourse and online. I dispute your comment.

 

In addition, I have had customers at shows upon seeing their ANA / PNG logo not only want to look at NGC coins only but inquire about their services.

[Bruceswar]

There is a bit of truth in both. Paid endorment yes! Do dealers find these coins easy to sell? In Some cases yes, and in some cases no. NGC sells alot better than many other grading companies. ANACS, NGC, PCGS, ICG, SEGS, who cares. Buy the coin and not the holder.

 

As for the legend Auctions. I am sure many people want to see them return, but personally it will not affect me at all. I do 99% of my coin buying when I can see the coin(s) in hand first.

[MarkFeld]

Sip your Kool Aid but NGC's integrity is a fact and this certainly has led to sales for me on the bourse and online. I dispute your comment.

 

In addition, I have had customers at shows upon seeing their ANA / PNG logo not only want to look at NGC coins only but inquire about their services.

You've got the wrong guy if you think I drink Kool Aid of any (grading company brand). I said nothing about NGC's integrity, so please don't try to attribute comments or points to me that I didn't make. If your customers are impressed by the ANA/PNG logo, chances are excellent that, a I already mentioned, they are uninformed regarding the paid endorsement.