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: 771 ✭✭✭

    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: 771 ✭✭✭

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

  • wondercoinwondercoin Posts: 15,597 ✭✭✭✭✭

    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: 771 ✭✭✭

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

  • wondercoinwondercoin Posts: 15,597 ✭✭✭✭✭

    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.
  • wondercoinwondercoin Posts: 15,597 ✭✭✭✭✭

    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.
  • cupronikcupronik Posts: 771 ✭✭✭

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

    Someone would not be denied.

  • wondercoinwondercoin Posts: 15,597 ✭✭✭✭✭
    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: 2,716 ✭✭✭✭✭

    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: 15,597 ✭✭✭✭✭

    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.
  • cupronikcupronik Posts: 771 ✭✭✭

    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.

  • cameonut2011cameonut2011 Posts: 6,255 ✭✭✭✭✭

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

    Wondercoin

    Surprised as in surprised that the coins sold for what the pieces did or surprised that the coins stickered? Your question is ambiguous and the answer interesting either way.

  • wondercoinwondercoin Posts: 15,597 ✭✭✭✭✭

    That auction is “ancient history” now. I see where many of the coins went. Time to move on.

    Wondercoin

    Please visit my website at www.wondercoins.com and my ebay auctions under my user name www.wondercoin.com.
  • erwindocerwindoc Posts: 2,951 ✭✭✭✭✭

    With his set sold, that leaves me sitting comfortably at the top ATS!

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