Charlie O Washington registry set all time #4 finest set sold at HA last week.

I watched this set closely over the years, interesting results to say the least. A couple of the MS67 coins did much better than ms67+ coins and even exceeded some 68 prices. I thought the prices on the 1943-p ms68 was really low as was the 44-s . The 54-s (I use to own when it was 67) had a bad picture and coin is much nicer than the picture by HA. The 62-p ms67, and 60-d which was part of my MANOFCOINS set went for really high amounts. The 57-D 67+ Went for like 7k. Nice coins with great pictures do well. Nice coins with average pictures do fair. Over all he did well. I wonder if he would have done better splitting the coins especially the MS68 coins into 2 or 3 auctions? Nice set hate to see Charlie sell.

Comments

  • cupronikcupronik Posts: 760 ✭✭✭

    I'm glad for Charlie; he has to be satisfied with the overall results.
    He paid up for some of his top pop coins that I thought seemed like a ton of money at the time.
    Good to see him come out ahead with the elite coins once in his set.

  • cupronikcupronik Posts: 760 ✭✭✭

    I was referring to Charlie's clad quarters in the above post.

  • wondercoinwondercoin Posts: 15,555 ✭✭✭✭

    Charlie came out ahead on one coin in particular... the 1976-S quarter in MS69. I think he may have cleared upwards of $12,000 on the coin. And, it was a problem coin at that (check out the reverse). A number of the higher priced coins, he appears to have lost upwards of 25%-50%. Check out what the identical coins sold for at Heritage the last time they appeared as compared to this week. Unless he did not buy them himself at Heritage... I can’t be 100% certain where he acquired them from.

    There wasn’t much in the set that would improve what I owned already (even if my coin was 1/2 point or so lower on the insert). I spent $0 in the sale in the end.

    Wondercoin

    Please visit my website at www.wondercoins.com and my ebay auctions under my user name www.wondercoin.com.
  • cupronikcupronik Posts: 760 ✭✭✭

    Good for Charlie that he was proactive in implementing his exit strategy (instead of his heirs having to deal with it.)

  • washingtonrainbowswashingtonrainbows Posts: 356 ✭✭✭
    edited June 10, 2019 9:04PM

    @wondercoin said:
    Charlie came out ahead on one coin in particular... the 1976-S quarter in MS69. I think he may have cleared upwards of $12,000 on the coin. And, it was a problem coin at that (check out the reverse). A number of the higher priced coins, he appears to have lost upwards of 25%-50%. Check out what the identical coins sold for at Heritage the last time they appeared as compared to this week. Unless he did not buy them himself at Heritage... I can’t be 100% certain where he acquired them from.

    There wasn’t much in the set that would improve what I owned already (even if my coin was 1/2 point or so lower on the insert). I spent $0 in the sale in the end.

    @wondercoin
    Very hard these days to separate true solid 67+ from a 68. The real monster 68 coins are easy to to pick out. The old 68’s I suspect will be 68+ coins in future. We will get use to the 67+/68 borderline coins that make 68. Grade inflation slowly will slowly continue. Over all I thought he had some really nice coins. I especially liked his 43-p, 54-s, 43-s, 44-s, 46-s, 60-d, 57-d and 62-p. I thought the 42-s was a bargain. I was former owner of 3 of those. The 57-d, 60-d and 62 went for near ms 68 money.

  • wondercoinwondercoin Posts: 15,555 ✭✭✭✭

    The 43-S was a lovely coin. Congratulations to whomever won it. And, it’s final price reflected its quality. Some of the other 68s mentioned went for bargain prices because they were lower end coins in my opinion. A few of the 67s were nice- I agree.

    What I determined from this sale is that buyers will still pay way too much money at auction for “run of the mill” coins, or even coins that have turned in the holders. Look no further than the $19,000+ paid for the 1976-S coin. Hopefully PCGS might be able to “conserve it” if it is ever presented to them.

    But, it wasn’t just Charlie’s quarters that were soft for some of the big time coins. A few of his Lincoln cents I was watching are way off their highs as well. Remember when Svdb cents in 67RD were $125k-$150k? I think his fetched $50k or $60k. Remember when 1909-S cents in 67RD were $25k-$40k++? I think his fetched $9k or $10k. I’m sure other Lincoln’s May have performed well - I was only paying attention to the 1909’s as I wouldn’t mind picking up all of them from 1909 in MS67RD at these “depressed” prices (for the right coins).

    Just my 2 cents

    Wondercoin

    Please visit my website at www.wondercoins.com and my ebay auctions under my user name www.wondercoin.com.
  • washingtonrainbowswashingtonrainbows Posts: 356 ✭✭✭
    edited June 11, 2019 5:05AM

    Some of the lower end coins per your analysis did CAC, 43-p and 44-s for example. Even the 42-s which I agree was lower end but still in that 67+ to low end 68 price range. 54-s ms 68 price was higher this time around. The 43-p and 44-s were definitely under priced compared to last auction sales and CAC to boot

  • wondercoinwondercoin Posts: 15,555 ✭✭✭✭

    We’re you as surprised as I was on some of the coins with CAC stickers?

    Wondercoin

    Please visit my website at www.wondercoins.com and my ebay auctions under my user name www.wondercoin.com.
  • washingtonrainbowswashingtonrainbows Posts: 356 ✭✭✭
    edited June 11, 2019 5:38PM

    @wondercoin said:
    We’re you as surprised as I was on some of the coins with CAC stickers?

    Wondercoin

    Not really I thought the 43-p and 44-s were deserving. There were some that didn’t CAC that I thought should have. Although I don’t place much stock on Washington qtrs and CAC status. I have seen crusty ugly low pop coins CAC and gorgeous toners not CAC. If toning is least bit wild then no CAC. Crusty ugly toning is no hindrance to CAC in fact JA favors the ugly crusty. I guess he tends to be a much to conservative for Washington qtrs and toning. However much more free with CAC and wild Morgan toners. My opinion.

  • cupronikcupronik Posts: 760 ✭✭✭

    Obviously the underbidder(s) had to be involved to arrive at the prices realized.

    Someone would not be denied.

  • wondercoinwondercoin Posts: 15,555 ✭✭✭✭
    edited June 15, 2019 6:53PM

    A quick teaching moment. Not necessarily for you Cupronik, but for the newbies out there. When a coin closes at a “crazy” price, the fact there might have been underbidder(s) chasing it does not mean all that much to what may have just happened to the winning bidder.

    Let’s take a quick look at the pop 3/0 1921 Missouri Classic Commem in MS66+.

    In its first auction appearance at Heritage in October, 2015, the pop 1/0 coin sold for $70,500. At the time, I told my customer that in my opinion it was a $15,000 - $20,000 coin on a good day. I am not sure how “caught up” he got in the bidding action that night, but fortunately was not the winning bidder.

    In its second auction appearance at Heritage in July, 2017, I stood by my $15,000 (not $20,000) personal valuation. My customer lost the coin and it fetched $19,975. He might have been the underbidder that night.

    In its third auction appearance at Heritage in January, 2019 (different coin of the pop 3), I adjusted my personal valuation downward to $10,000 - $12,500. My customer won the coin at $8,400 all in.

    A pop 1 going to only pop 3 over a mere (40) month time span and the price went from $70,500 down to $8,400.

    That is why I was not personally chasing pop 1-3 clad / modern quarters selling at $5,000-$19,000 last week or even any of the silver quarters from the 1940s and 1950s in pop 1-5 fetching upwards of $10,000 - $20,000. Even though some of these coins sold for 1/3- 1/2 less than their last auction appearance. The near 100 year old (Mintage 15,428) 1921 Missouri is a good teaching moment for me as well.

    When the pop 4/0 eventually gets slabbed of that Missouri, I would not be terribly surprised if my customer ended up overpaying for his coin at $8,400! Lol.

    Just my 2 cents.

    Wondercoin

    Please visit my website at www.wondercoins.com and my ebay auctions under my user name www.wondercoin.com.
  • davewesendavewesen Posts: 2,604 ✭✭✭✭✭

    Great analysis Wondercoin. Do you feel the increase in top pops is related to toning that is increasing eye appeal, or gradinflation or a little of both??

  • wondercoinwondercoin Posts: 15,555 ✭✭✭✭

    Davewesen. Speaking of Mint State Washington Quarters, I believe it has something (not everything, but something) to do with the grading services not utilizing the full MS60-MS70 scale for the Unc. Coins. First, I believe David Hall was a serious collector of Silver Washington Quarters in his day. He loved the series. For a few decades, the coins were strictly and, in my view, conservatively, graded. David is “old school”. MS68 grades were nearly impossible to get out of PCGS. And in many cases, even MS67s were incredibly difficult for decades. And, forget about getting anything over an MS65 grade on the 32D/S. Finally, things opened up a bit on the grading.

    To this day, PCGS has yet to grade its first silver Washington quarter (1932-64) in MS68+ (unless I missed something recently). They have graded SLQs in 68+, but not a Wash quarter! As PCGS finally starts to use more of the grading scale, MS68+ and even MS69 silver quarters could (and should) be graded. Is this gradeflation or the graders getting more comfortable with the entire grading scale after seeing coins for 30-35 years? You tell me.

    Just my 2 cents.

    Wondercoin

    Please visit my website at www.wondercoins.com and my ebay auctions under my user name www.wondercoin.com.
  • AllCoinsRuleAllCoinsRule Posts: 2,404 ✭✭✭✭

    I tried to swim in the deep end at the signature sale. I pretty much got blown out of the water. I did pick up 5 silvers and 6 clads in the internet portions. I expect only 2 or 3 of the clads will actually be nicer coins than what I already have. I think I got the ms67 92-d for just over $500 when I was the underbidder at around $1700 last time. Only 3 clad dates I don't have in ms67 or better now and a submission to pcgs (which is not happening) might change all 3.

  • cupronikcupronik Posts: 760 ✭✭✭

    ACR:. That's a good price that you were able to pick up the 92-D P67 25c for. It's only a pop=5 (with 1 higher). The 92-D is very tough in MS67/better.
    Perhaps some of the tougher MS67 clads would have fared A LOT BETTER in the actual Signature Sale as opposed to being relegated to a weekly internet auction.

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