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Legend's Dollar Night prices realized
Gazes
Posts: 2,315 ✭✭✭✭✭
I was just a spectator last night watching the Legend Dollar Night auction. Not my area of expertise and I did not watch every coin but from the coins I did see I thought the prices appeared to be very strong. Curious what others thought.
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Did any sell for more than a dollar?
I would assume it was not the same as shopping at the Dollar Store.....
Cheers, RickO
I was impressed by the money the 1857 realized in particular. It went for moon money. No doubt it’s a tough date but definitely grabbed my attention.
Here's the 1857. Great price of $29k on an estimate of $11k - $12.5k.
This from the Issaquah Estate. Always a bit sobering when the coin is from an estate vs. a collection.
https://legendauctions.hibid.com/lot/50797615/-1-1857-pcgs-ms64-cac
This also isn't my area of expertise but just looking at the numbers for the 21 seated dollars, there seem to be both strong and weak prices. Of note, of the 8 coins that sold under their estimate 5 were CAC, 3 were non-CAC. Of the strong, and in-range coins, all were CAC.
In Estimate (5 total, 5 CAC)
1 - $1 1795 B-3, BB-11. SILVER PLUG. PCGS AU55 CAC
Price Estimate: 100,000.00 - 120,000.00 USD
Realized: 110,000.00 USD
2 - $1 1798 LARGE EAGLE. PCGS AU58+ CAC
Estimate: 30,000.00 - 35,000.00 USD
Realized: 34,000.00 USD
3 - $1 1799 PCGS MS64+ CAC
Estimate: 110,000.00 - 125,000.00 USD
Realized: 120,000.00 USD
15 - $1 1855 PCGS MS61 CAC
Estimate: 9,000.00 - 11,000.00 USD
Realized: 9,500.00 USD
18 - $1 1859 PCGS MS63 CAC
Estimate: 4,500.00 - 5,500.00 USD
Realized: 5,000.00 USD
Strong (8 total, 8 CAC)
4 - $1 1842 PCGS MS64 CAC
Estimate: 15,000.00 - 17,500.00 USD
Realized: 19,500.00 USD
6 - $1 1844 PCGS MS63 CAC
Estimate: 11,000.00 - 12,000.00 USD
Realized: 17,500.00 USD
8 - $1 1846 PCGS MS64 CAC
Estimate: 7,500.00 - 8,500.00 USD
Realized: 9,500.00 USD
13 - $1 1853 PCGS MS64 CAC
Estimate: 10,000.00 - 12,000.00 USD
Realized: 13,000.00 USD
16 - $1 1856 PCGS MS62 CAC
Estimate: 6,000.00 - 7,500.00 USD
Realized: 12,500.00 USD
17 - $1 1857 PCGS MS64 CAC
Estimate: 11,000.00 - 12,500.00 USD
Realized: 29,000.00 USD
19 - $1 1859-O PCGS MS64+ CAC
Estimate: 10,000.00 - 12,500.00 USD
Realized: 20,000.00 USD
20 - $1 1860 PCGS MS64 CAC
Estimate: 8,500.00 - 9,500.00 USD
Realized: 11,000.00 USD
Weak (8 total, 5 CAC)
5 - $1 1843 PCGS MS63 CAC
Estimate: 7,000.00 - 8,000.00 USD
Realized: 5,750.00 USD
7 - $1 1845 PCGS MS62 CAC
Estimate: 15,000.00 - 18,000.00 USD
Realized: 10,500.00 USD
9 - $1 1846-O PCGS MS62
Estimate: 7,500.00 - 8,500.00 USD
Realized: 5,250.00 USD
10 - $1 1847 PCGS MS64
Estimate: 8,500.00 - 10,000.00 USD
Realized: 7,750.00 USD
11 - $1 1849 PCGS MS63
Estimate: 5,000.00 - 6,000.00 USD
Realized: 3,300.00 USD
12 - $1 1850 PCGS MS63 CAC
Estimate: 15,000.00 - 17,500.00 USD
Realized: 8,750.00 USD
14 - $1 1854 PCGS MS63 CAC
Estimate: 17,500.00 - 19,000.00 USD
Realized: 12,500.00 USD
21 - $1 1860-O PCGS MS64 CAC
Estimate: 6,000.00 - 7,000.00 USD
Realized: 4,700.00 USD
Yikes, those weak ones were WAY under estimates!
I was surprised by the 1850 and 1854... the rest are considered "common" date. I hesitated to write common because big picture none of them are common compared to most all other series. I tend to use the CAC populations when trying to figure out rarity of quality Liberty Seated Dollars.. On the 50p & 54... There is only (2) better that have been CAC approved . It surprises me how low they went. I’m working on an XF set with a few VF and AUs mixed in. So MS coins are out of my area of expertise. But It still surprised me. I’ll also add that even though the 1855 sold within the estimate. I felt it was a steal at that price. It’s such a tough date to find nice . Finding it CAC approved is much tougher. My 2c....
do the realized prices include commission?
Not sure and no time to look now. The numbers are what Legend posts on their website together in close proximity so it seems like they are meant to be compared.
i think the prices you list do not include commission which if true is significant to factor in. However i am not certain. Thanks Zoins for posting the data.
The numbers look like this on their website. I agree 17.5% is significant so it would be good to know if these realized prices include the Buyer’s Premium as it will make a lot of difference in the results. Heritage includes the BP and given how Legend presents the numbers below, I think they should as well.
The $110G is HAMMER!!! As is the $34G listed above!!!!!!
Thanks! That’s good to know and will change the classification above.
Of note, the numbers aren’t really “Price Realized” as shown on the website. Seems like it would be helpful to update the website to either say hammer or add in the BP to Price Realized.
Peace dollar prices were strong, even for pieces that I judged to be “B” for grade (from photos). It was a nice bunch of coins that sold from the Issaquah collection.
I do not think that using auction estimates is a reliable and accurate method to determine whether LSD's realized strong or weak prices. Instead knowing the rarity, current market values, and the quality of each coin will produce a much more accurate assessment of the prices realized.
In general the premium coins realized strong prices. The 1857 bought much more than I expected.
Heck, the 1857 brought far more then I expected too!
We use estimates because there are more people who really need the guidance. While of course it does not work for a few, it really does work for many-and we base them upon higher wholesale
If I could see the Seated $s in hand, I would be in a better position to comment re the prices realized. I don't know about the specific dates, but the type coins in the series to me are not difficult to grade in MS 63, MS 64, and MS 65.
"Seu cabra da peste,
"Sou Mangueira......."
They get updated to include commission as the price realized in a few days. That’s been my experience anyways
m
Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
When I heard Legend was holding a dollar night, I got excited. But there were no trades with chopmarks. I bought most of them the last time they had them for sale. I understand I shouldnt expect coins like that every time, but I still have a little bit of child-like hope in me that they would have some
Minor Variety Trade dollar's with chop marks set:
More Than It's Chopped Up To Be
Going by the 1857's photos above it seems to have a 65 obverse and a 64 reverse (upper field chatter). And the strike on the head and eagle's upper/inner feathers are strong too. Many or most 57's I've run across seem to be flat heads....very flat heads. It could be that some of the 65's out there have a weaker strike than this coin. So if this is a 65 obverse / 64 reverse with a nice strike for the date....that can explain the 64+ price. IIRC the 2001 Vermeulle 1857 (raw) was also a 64+ type of coin - due to some light wipe lines all over the obverse. It had nice flash and did grade MS65 (sold for $21K or so in the sale....and then a $28K asking price after). That coin today has to be multiples of what this 64 just brought.
Seems reasonable to me that a solid 64 coin is worth half the price of a just ok MS65. If anything, the $11K-$12.5K estimate was woefully low on this one. A very nice better date only going for $12K.....when the MS65's are $45K-$65K?
@roadrunner great to see you posting and hope you are well
m
Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
PCGS price guide on the 1857 has a lot gap between the 64 to 65. I've always wondered why the huge spread in some better dates. And I have some thoughts. But I'd rather hear inputs like that from students of the series like TDN or other STD Dollar set owners. In this case it makes little sense to me that a 65 is worth 4X the price of a 64+. Even more puzzling when the 65 pops are only 2X the 64 pops. Not even 10 coins to go around between the 2 grades. CAC shows 7 in 64 and 3 in 65.
64 $15K
64+ $20K
65 $85K
RR- I’m not sure why such a wide gap between the 2 grades? But I do know that the Pop report is a bit off for the 57 in MS64. A while back I went through all the true view images and found that a single 1857 MS64 was submitted 8 times trying to get the upgrade. Perhaps the wide gap is due to the screwed up pop report in MS64. The market may think there is more out there than actually exist? My notes actually indicate that the same coin I mentioned above now resides in an NGC MS64+ Which was listed on EBay a while ago for less than 19k.
Well, I functioned as the potted plant tonight and made the consignors and Legend a few bucks by being the underbidder, again.
One of these days, I deserve a kickback for that......
Crusty, the PCGS pop report on the MS 1857 for 64 vs. 65 is 6 and 3 coins. So it would appear that most of the 8 previous submissions of that coin were probably removed. The current pops of 6 vs. 3 coins doesn't suggest a 5.6X price difference between the grades of 64 and 65. It's also possible those 8 submissions were all done on the regrade line (not cracked out) such that each old insert # gets removed upon submission.
there are more than 3 deep pockets fighting over the best - but less than 9... could it be simple economics 101?
Minor Variety Trade dollar's with chop marks set:
More Than It's Chopped Up To Be
RR- Crap... your right. That was an old nugget I pulled out of my head. I stand corrected.
I sold the entire Sterling Collection to Legend 20 years ago (?). My memory is not what it used to be but Laura can correct me if I'm Incorrect. I think this collection got Bruce started on his Seated Dollar Collection. The 1857 was PL and one of my favorite coins in my customer's set.
CNN does not have fake news. The 1857 sold to a collector
ALL choice STD $1 (even AU's ) are rare
That's such an unfortunate abbreviation.
The entire sale brought prices realized comensurate w/quality
The serious stuff bought serious money across the board
The silver bunny bounce.
Lance.
Yet it is quite ironic. Choice seated dollars haven't circulated and don't get around much...