Crazy bidding going on!

EagleEye

From the April Central States auction by Heritage:

1902 Indian Cent MS67RD

COINS MAKE CENTS

Holy crap!!!!!!!!!

amwldcoin

Dang! New addition to the Hanson set????

ChrisH821

Nice cent

logger7

Still no cac? I wonder why.

I saw GC advertising a somewhat better Mercury fb dime graded MS67 or so that went into the stratosphere. Upgrade attempts ahead.

AUandAG

Fun to watch that!!

bob

Justacommeman

Chump change compared to the mercs last week but still a wowser. Not sure this one make a lot of cents but it took many too buy

m

cameonut2011

$66,000 for it, and it doesn't even have a CAC sticker.

It looks like Mr. Hansen is at it again.

gonzer

Jumpin' J Hosephat!

Ablinky

Certainly was spirited bidding.

Justacommeman

@cameonut2011 said:
$66,000 for it, and it doesn't even have a CAC sticker.

I think by those pics that the red designation might by optimistic

m

Walkerfan

Whales fighting...

Retail is $20,000....Just saying.

lowcountrycoinut

WOW!!!!!

Dave99B

Fair warning at 13K, and then it runs all the way to 55K. Wow!

Can you imagine being the seller, watching this action?

Dave

amwldcoin

There were more than 2 bidders! I would have to look again but there were 3 or 4 cut bids!

EagleEye

It's auction fever like this that make collectors loosen up their grip on their collections. I am thinking of the "Castle" collection coming up at the ANA by Heritage.

cameonut2011

@Dave99B said:
Fair warning at 13K, and then it runs all the way to 55K. Wow!

Can you imagine being the seller, watching this action?

Dave

Remember those numbers don't include the 20% buyer's premium either.

I can't imagine being the consignor on this or the 1938-S/1931-S dimes that recently sold at Legend. I would have wet myself.

oldabeintx

Pop 13 one finer? Absurd.

cameonut2011

@oldabeintx said:
Pop 13 one finer? Absurd.

It was 14/0 at the time. This doesn't appear to be the coin that upgraded either.

jdimmick

I was talking to a vest pocket dealer that droped by the shop Tuesday, he told me he knows one of the whales that's spending all the big bucks chasing stuff to the moon. He said he estimated he has lost over 40 million so far since acquiring all this stuff, if he were to put it back up for auction

lkenefic

Mine is not to reason why other people spend their money on the stuff they do...

cameonut2011

@jdimmick said:
I was talking to a vest pocket dealer that droped by the shop Tuesday, he told me he knows one of the whales that's spending all the big bucks chasing stuff to the moon. He said he estimated he has lost over 40 million so far since acquiring all this stuff, if he were to put it back up for auction

Can you get me this whale's want list?

golden

Just wow!

cnncoins

2 dealers who graded it 68RD....just saying

cameonut2011

@cnncoins said:
2 dealers who graded it 68RD....just saying

This is not my series... What would a 68 RD likely be worth? The hammer price is much, much higher and actually multiples of price guide for a 67. It sounds like a lot of risk for little or unknown reward.

SeattleSlammer

Non-CAC, Non-EagleEye RD in a new prong slab ........ some confident folks out there to say the least

cnncoins

agreed the risk reward is not great...a 68RD could be worth 100k...much more if it was a mercury dime!

ARCO

If not for registry competition, what else? They weren't chasing the Indian head, they were chasing that number on the holder.

cameonut2011

.

cnncoins

There are some very good graders out there...if you are willing to put your money where your grade is....

OldIndianNutKase

Two, or maybe three bidders on this train wreck. Hansen's 1902 is 66.5RD........1/2 point on a coin that is common (1.0 mult.). But if he and another bidder think it might go 68 is the only rational explanation. Other bidder was probably not the "Castle Collection" which is being auctioned at ANA, and Stewart Blay probably already has one the other 67's. I hope that we on this forum can figure out who drove this train.

OINK

batumi

Make me ponder if the high bidder actually won the coin, or had it 'dropped' on him or her.

Zoins

Here's the coin:

1902 Indian Head Cent - PCGS MS67RD

This isn't in a Registry Set yet.

At the time, this was a pop 14/0. Now this is a pop 13/1.

Only one coin in the CoinFacts Condition Census has pedigree information, a MS67RD for High Desert.

Heritage Description:

1902 Indian Cent, MS67 Red
Tied for the Finest at PCGS

1902 1C MS67 Red PCGS. The viewer would be hard pressed to find anything wrong with this Superb Gem. Even at 10x magnification, the surfaces are pristine. Both sides exhibit a generally strong strike, although a few feather tips are indistinct. Frosty orange luster is unimpeded. An extraordinary Indian cent. Population: 14 in 67 Red, 0 finer (3/19).

• Auction: https://coins.ha.com/itm/indian-cents/small-cents/1902-1c-ms67-red-pcgs/a/1294-3075.s
• Cert: https://www.pcgs.com/cert/37985105

cameonut2011

@Zoins said:

• Cert: https://www.pcgs.com/cert/37985105

1. What is going on at the obverse rim at 5 o'clock?
2. Is that a rim ding at 2 o'clock on the reverse (beyond the denticles)?

morgansforever

It's a wonderful coin and a couple bidders thought so too. Pretty darn amazing that this cent survived in such pristine condition. There's a 66RD in PCGS plastic on Ebay for 35x less, just sayin.

Not my image or listing.

MFeld

@Zoins said:
Here's the coin:

1901 Indian Head Cent - PCGS PR67RD

This isn't in a Registry Set yet.

At the time, this was a pop 14/0. Now this is a pop 13/1.

Only one coin in the CoinFacts Condition Census has pedigree information, a MS67RD for High Desert.

Heritage Description:

1902 Indian Cent, MS67 Red
Tied for the Finest at PCGS

1902 1C MS67 Red PCGS. The viewer would be hard pressed to find anything wrong with this Superb Gem. Even at 10x magnification, the surfaces are pristine. Both sides exhibit a generally strong strike, although a few feather tips are indistinct. Frosty orange luster is unimpeded. An extraordinary Indian cent. Population: 14 in 67 Red, 0 finer (3/19).

• Auction: https://coins.ha.com/itm/indian-cents/small-cents/1902-1c-ms67-red-pcgs/a/1294-3075.s
• Cert: https://www.pcgs.com/cert/37985105

You listed both a Proof 1901 and a mint state 1902.

Zoins

@MFeld said:

@Zoins said:
Here's the coin:

1901 Indian Head Cent - PCGS PR67RD

This isn't in a Registry Set yet.

At the time, this was a pop 14/0. Now this is a pop 13/1.

Only one coin in the CoinFacts Condition Census has pedigree information, a MS67RD for High Desert.

Heritage Description:

1902 Indian Cent, MS67 Red
Tied for the Finest at PCGS

1902 1C MS67 Red PCGS. The viewer would be hard pressed to find anything wrong with this Superb Gem. Even at 10x magnification, the surfaces are pristine. Both sides exhibit a generally strong strike, although a few feather tips are indistinct. Frosty orange luster is unimpeded. An extraordinary Indian cent. Population: 14 in 67 Red, 0 finer (3/19).

• Auction: https://coins.ha.com/itm/indian-cents/small-cents/1902-1c-ms67-red-pcgs/a/1294-3075.s
• Cert: https://www.pcgs.com/cert/37985105

You listed both a Proof 1901 and a mint state 1902.

"1901 Indian Head Cent - PCGS PR67RD" is a typo. All the links are for the 1902 MS67RD. Not sure what happened there! I've fixed it above.

ricko

Amazing.... Looks like a testosterone hurricane..... Cheers, RickO

oih82w8

Was there a cover charge to sit in on this bidding war? Astronomical bids on this one.

EagleEye

The feathers were not full and the rims were weak. The bright luster on the weak areas tells me it was debris-filled dies. I likes the coin anyway and was planning on bidding up to $11K, but never got a chance to put my bidder card up.

Walkerfan

@oih82w8 said:
Was there a cover charge to sit in on this bidding war? Astronomical bids on this one.

I certainly would've paid and also brought my popcorn and imported beer.

JBatDavidLawrence

@cameonut2011 said:
$66,000 for it, and it doesn't even have a CAC sticker.

It looks like Mr. Hansen is at it again.

I'll confirm that we were not bidding on this coin...

JBatDavidLawrence

@cnncoins said:
agreed the risk reward is not great...a 68RD could be worth 100k...much more if it was a mercury dime!

Only on a particular day...

ARCO

Just think, before the TPG services, registry set madness and the race to spend millions for numbers on plastic, some guy walked into a coin store somewhere, plunked down $50.00 (or a lot less) and walked out with this beautiful 1902 Indian head cent tucked neatly in a little 2 X 2 plastic protector.

ShadyDave

Coingrats to the consigner....

asheland

It's pretty FWIW

CWT1863

Wow! That is amazing. The consigners reaction would be priceless.

cameonut2011

@EagleEye said:
The feathers were not full and the rims were weak. The bright luster on the weak areas tells me it was debris-filled dies. I likes the coin anyway and was planning on bidding up to $11K, but never got a chance to put my bidder card up.

Thanks for answering my questions. Am I wrong in assuming that the strike issues, the spot around the date, and the light marks on the cheek would kill its prospects for an upgrade? Is this some rare Snow variety? What do you think the bidders saw that caused them to go nuclear?

cameonut2011

@JBatDavidLawrence said:

@cnncoins said:
agreed the risk reward is not great...a 68RD could be worth 100k...much more if it was a mercury dime!

Only on a particular day...

Is there a back story on the 31-S/38-S dimes given the smiley face?

cnncoins

Maybe JB knows the buyer....maybe....

Brian_Hodge

The power of the registry and to be #1 cannot be understated. At a certain point of wealth money merely becomes a means for fun.