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Newest $1,000,000 Coin?
ilikemonsters
Posts: 767 ✭✭✭✭
I predict one of these two coins to sell for $1M. Thoughts?
This is from the S.S. Central America, and graded MS67+.
The second $20 graded MS67.
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ilikemonsters
Posts: 767 ✭✭✭✭
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The second coin is just plain yuck!
P.S. I also doubt your valuation. The usually high PCGS Price Guide lists it at $250,000. With the softness in the gold market, I don't see this breaking $1 million any time soon.
What is the most an 1857 S $20 has gone for in the past? Have there been any before graded higher than MS67? Even if there was only one found to date, there is the possibility of one or more "surfacing" from this same shipwreck in the future. The supply of discovered $20s coming in from European bank vaults still seems to continue, adding to the uncertainty regarding future condition rarity. There may well be bias for "ocean effect" which in the minds of some place sea recovery coins on a lower tier, regardless of their assigned grades. All factors, but who knows as a million dollars isn't what it used to be.
I just bought the only available MS67 CAC 57S for UNDER $200,000.00. A + will NOT add $800,000.00
The toner could be $250G in reality
Realizing you are probably the best or one of the best out there, have you seen in hand the 'toner' pictured? Imo, it is ugly-at least in the photos. I would prefer the first coin any day, plus or no plus-even a nice 65 for far less money.
I am a gold coin lover... but that second coin needs help.... I do not think the first will go for a million... that is way too high IMO - I agree with Laura (and she is far more expert at this than I am). Cheers, RickO
When I first saw coin number two it was on the cover of my copy of Rare Coin Market Report. The magazine arrived with a torn wrapper and I thought the mail lady might have dropped it in the street and ran over it before placing it in my mailbox. I sure hope the coin looks better in hand than in the photo.
it's crackers to slip a rozzer the dropsy in snide
i like the top one best.
FWIW, I doubt that the toning of the second piece would add value to any other T1 $20 in that grade. But for a 57-S, the toning is a link to the coin's story, it's a rarity with that look, and I think that it adds significant value.
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
I don't mind toned coins, but that bottom one doesn't do anything for me
Steve
I like the bottom one more than the one above it. One rarely encounters gold coins these days with that kind of old-time toning.
RMR: 'Wer, wenn ich schriee, hörte mich denn aus der Engel Ordnungen?'
CJ: 'No one!' [Ain't no angels in the coin biz]
While the toning is wild, it is no where near a $1 million dollar coin. I forgot what the toner graded. It has to be a MS68 to even come close to $500,000.00. I have seen it-wild coin!
The 57S MS67+ is superb-really superb. But as I said before, I paid UNDER $200,000.00 for a regular MS67 CAC MS67. NO + anywhere would add even $250,000.00.
I just do not care for coin #2.
The toning IMHO on the second coin is fugly. If I submitted a $20 like that it would come back AT.
Coin #1 is an ultra-high grade and very eye-appealing example of a very common date $20. Are there two wealthy buyers out there who will pay $1,000,000 for such a coin? Dealers in the very high end of the market probably know the answer to this but I don't.
Coin #2 is ugly and won't bring anything close to what coin #1 brings regardless of the slab grade. Expect ultra-hype concerning toning when this goes up for sale.
Coloring on the 2nd coin is superficial - mostly rust. You can duplicate this by tossing your bright silver or gold coins into a glass jar with some bits of iron and a little water. The coin itself probably has little real toning. the 1st coin has some rust remaining but it's not objectionable.
Neither coin is anywhere close to $1 million, and I would not value the nice one too highly since there are many other very high quality 1857-S DE around. Maybe two ardent bidders will want sea-salvage DE at $100k....?
I like crusty old gold, but the second one is too much. I just do not like it, and do not see either of those coins bringing 1 million or even close to it.
My respect for the OP will go up if he PM's me that this is a trolling thread.
In response to both of your comments. I should not have titled this thread "Newest $1,000,000 Coins?', but instead "Future $1,000,000 Coins?".
The toned 57S was the "cover coin" for the most recent excavation batch. Somebody will like it, but it is definitely different..
My thinking is that many years down the road, the 67+ COULD trade for $1M. An individual who collects coins and is a history buff could come along and want only the finest known $20 excavated from the shipwreck. If the 67+ is traded amongst several collectors hands over the years, the price will only rise.
It will be fun to see the results of all of the experiments that are now undoubtedly taking place!
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
I think it is just a speculation at this time......
ooops....didn't mean to ttt
I thought the inclusion of the second coin made it obvious.