Another key date/variety that is locked into my memory base for ever. Will always look for the cud at the rim above TED in UNITED ON 1888 IHC's. Awesome find, is that your image at the top? If so very nice, not a very drastic OD. Is the tiny piece of material on the last 8 part of the OD?
My understanding is:
It was posted on a chat board from a British collectors who knew nothing about it. #FadeToBlack identified it. #FadeToBlack then tried to get a deal done by making a strong offer for the coin. Either while trying to buy it, or after striking a deal, #FadeToBlack asked for my opinion. I offered $20,000 based on the fuzzy image.
What happened next:
FadeToBlack made the deal and once the coin was in-hand he sent a much better image. Based on that, and my certainty that it was an AU58 slam-dunk, I offered $30,000. #FadeToBlack wanted to send it in to PCGS and base the price off of what it graded. I said I would like to have it in-hand and submit it. We agreed on a structured deal starting at $25,000 and splitting the profit over that amount. That way, if it graded MS63BN, no one would feel slighted.
No one thought it wouldn't grade AU58, except the graders at PCGS. After it came back AU55+, we were disappointed. My customer was expecting an AU58 as well. I was able to make a sale anyway, but took a coin in trade at full value based on a $35,000 sale price. The cash sale price was figured as $30,000.
I think the OP (he can correct me if I use terms he isn't comfortable with in this regard) considers it a "cherrypick" in the purest since of the word, instead of a rip.
Ie.....
Cherrypick: Finding something that was unknown to other parties involved at the time and not properly designated
Rip: Getting something for a much lower price due to the other party not being cognizant and aware of the actual value/type
I don't understand. If you had to sell it in order to pay back the money you had to borrow to buy it, how much of a cherry pick was it? Was it already attributed as an overdate and did you just figure that it was undergraded?
Comments
Hell Yeah @FadeToBlack ...that’s worth all 57 recently dropped NOICE!!!’s with a !!!B) on top!
...also...I love the avatar of Doc on the minor league forum
I love the look. Fabulous cherry pick! Congrats!
Great transactions with oih82w8, JasonGaming, Moose1913.
As actress Mamie Van Doren said in an old 1950's movie, fantabulous!
Another key date/variety that is locked into my memory base for ever. Will always look for the cud at the rim above TED in UNITED ON 1888 IHC's. Awesome find, is that your image at the top? If so very nice, not a very drastic OD. Is the tiny piece of material on the last 8 part of the OD?
Congratulations! Knowledge pays off
That's the stuff dreams are made of...
Congrats!
Dead Cat Waltz Exonumia
"Coin collecting for outcasts..."
Amazing....the type of find we all dream of - and few actually do....Congratulations... Cheers, RickO
I'd call that a cherry-flip.... not a cherrypick.
Take your profit now ... if you haven't already.
My understanding is:
It was posted on a chat board from a British collectors who knew nothing about it. #FadeToBlack identified it. #FadeToBlack then tried to get a deal done by making a strong offer for the coin. Either while trying to buy it, or after striking a deal, #FadeToBlack asked for my opinion. I offered $20,000 based on the fuzzy image.
What happened next:
FadeToBlack made the deal and once the coin was in-hand he sent a much better image. Based on that, and my certainty that it was an AU58 slam-dunk, I offered $30,000. #FadeToBlack wanted to send it in to PCGS and base the price off of what it graded. I said I would like to have it in-hand and submit it. We agreed on a structured deal starting at $25,000 and splitting the profit over that amount. That way, if it graded MS63BN, no one would feel slighted.
No one thought it wouldn't grade AU58, except the graders at PCGS. After it came back AU55+, we were disappointed. My customer was expecting an AU58 as well. I was able to make a sale anyway, but took a coin in trade at full value based on a $35,000 sale price. The cash sale price was figured as $30,000.
Fan-freaking-tastic for all involved!
That's a good one! Congrats!!
I think the OP (he can correct me if I use terms he isn't comfortable with in this regard) considers it a "cherrypick" in the purest since of the word, instead of a rip.
Ie.....
Cherrypick: Finding something that was unknown to other parties involved at the time and not properly designated
Rip: Getting something for a much lower price due to the other party not being cognizant and aware of the actual value/type
I've been told I tolerate fools poorly...that may explain things if I have a problem with you. Current ebay items - Nothing at the moment