Last year I bought a coin at an auction from a European auction house.
the coin was Mis-labeled by a US TPG (not our host) Grade was PL 65 and the mislabeling was in the wrong variety even though it is very well known and sought after Variety!. it is usually priced about 25-40 times above the price of the regular, normal issue.
The well known coin Auctioneer had absolutely NO clue what he was selling. S
o I picked up a $ 7500 coin for a mere $ 250.
Do you think I told the auctioneer????? Not a chance...
shows you what some Auctioneers know... my take that day, about 25K worth of certified coins for about $1600 from the same auction. The auction was well advertised around the world.
Another time about 25 years ago, I was asked to give my opinion about a small estate collection.
I went to the home, did my thing (not worth it) and my eyes became fixed at the very old, hand made curtains.....
it was not the actual curtains... but these were hanging straight down, no wrinkles etc... all over the house, very old hand made curtains attached to one of these push together round rods......
in all, 32 individual curtains, 2 on each window, different sizes.
I asked if I could buy these curtains.... to make it short, I paid $ 40 for all of them. then my conscious raised its head...
and I told the people what I suspected......the curtain were all weighted with 50 cent pieces and quarters..from early 1900 and late 1800........Jackpot!
I made another deal with the estate, even though i did not have to do this, as I had already bought the curtains and these were already my curtains.
The story was printed in the local paper at the time.
It created a curtain-coin search in our small town, and some people were successful.... I was busy for a while.
Widow brings in husband's expansive collection for appraisal/sale to the G. Fox dept store coin where they have a small display case rented out to a local dealer/collector. Offers her $5,000 for the entire collection. She leaves with the coins.
Next stop is a Newington, CT coin dealer with a storefront and national reputation. She might have mentioned the earlier offer so this dealer ups it to $50,000. Must be good for the widow as she sells. 10X better offer is really good, right?
A short time later the collection emerges for sale (mostly raw) at the Bay State Coin Show, Boston, MA. Dealers have to take tickets to line up to buy the coins form the Newington, CT dealer. The line is long. The collection ultimately sold for approx $500,000+ once pieced out. It included many choice and gem 19th century type coins, and numerous fresh, original rolls from the early 20th century. Nice red rolls of choice/gem 1911-S LIncoln cents were auctioned on Teletrade, NY in MS65/66 condition over a number of months/years. Many other semi-key roll dates as well. IIRC the 1911-s cents alone were worth in the $20K-$25K range.
When later asked why the G. Fox guy let those coins walk for only $5K their reply was........."if I can't buy them at my price, I don't want them." With over 30 yrs passing since this 'event,' no doubt some "folk lore" has injected itself into the story. Mr Eureka, Colonel Jessup, and others are fairly well versed in this story. Most dealers I know would have helped steered the widow in the right direction or took it on consignment netting her $400K+.
@YQQ said:
Last year I bought a coin at an auction from a European auction house.
the coin was Mis-labeled by a US TPG (not our host) Grade was PL 65 and the mislabeling was in the wrong variety even though it is very well known and sought after Variety!. it is usually priced about 25-40 times above the price of the regular, normal issue.
The well known coin Auctioneer had absolutely NO clue what he was selling. S
o I picked up a $ 7500 coin for a mere $ 250.
Do you think I told the auctioneer????? Not a chance...
shows you what some Auctioneers know... my take that day, about 25K worth of certified coins for about $1600 from the same auction. The auction was well advertised around the world.
Another time about 25 years ago, I was asked to give my opinion about a small estate collection.
I went to the home, did my thing (not worth it) and my eyes became fixed at the very old, hand made curtains.....
it was not the actual curtains... but these were hanging straight down, no wrinkles etc... all over the house, very old hand made curtains attached to one of these push together round rods......
in all, 32 individual curtains, 2 on each window, different sizes.
I asked if I could buy these curtains.... to make it short, I paid $ 40 for all of them. then my conscious raised its head...
and I told the people what I suspected......the curtain were all weighted with 50 cent pieces and quarters..from early 1900 and late 1800........Jackpot!
I made another deal with the estate, even though i did not have to do this, as I had already bought the curtains and these were already my curtains.
The story was printed in the local paper at the time.
It created a curtain-coin search in our small town, and some people were successful.... I was busy for a while.
My mom, an antiques dealer, told me 40 years ago that instead of turning in their gold, many people used double eagles to weigh down their curtains. I am glad to hear this somewhat verified by a similar story.
Comments
Last year I bought a coin at an auction from a European auction house.
the coin was Mis-labeled by a US TPG (not our host) Grade was PL 65 and the mislabeling was in the wrong variety even though it is very well known and sought after Variety!. it is usually priced about 25-40 times above the price of the regular, normal issue.
The well known coin Auctioneer had absolutely NO clue what he was selling. S
o I picked up a $ 7500 coin for a mere $ 250.
Do you think I told the auctioneer????? Not a chance...
shows you what some Auctioneers know... my take that day, about 25K worth of certified coins for about $1600 from the same auction. The auction was well advertised around the world.
Another time about 25 years ago, I was asked to give my opinion about a small estate collection.
I went to the home, did my thing (not worth it) and my eyes became fixed at the very old, hand made curtains.....
it was not the actual curtains... but these were hanging straight down, no wrinkles etc... all over the house, very old hand made curtains attached to one of these push together round rods......
in all, 32 individual curtains, 2 on each window, different sizes.
I asked if I could buy these curtains.... to make it short, I paid $ 40 for all of them. then my conscious raised its head...
and I told the people what I suspected......the curtain were all weighted with 50 cent pieces and quarters..from early 1900 and late 1800........Jackpot!
I made another deal with the estate, even though i did not have to do this, as I had already bought the curtains and these were already my curtains.
The story was printed in the local paper at the time.
It created a curtain-coin search in our small town, and some people were successful.... I was busy for a while.
I've never seen a million dollar coin. I'd shit my pant and the seller would probably get a clue instantly.
bob
Hartford, CT - 1988/89 The G.Fox "collection."
Widow brings in husband's expansive collection for appraisal/sale to the G. Fox dept store coin where they have a small display case rented out to a local dealer/collector. Offers her $5,000 for the entire collection. She leaves with the coins.
Next stop is a Newington, CT coin dealer with a storefront and national reputation. She might have mentioned the earlier offer so this dealer ups it to $50,000. Must be good for the widow as she sells. 10X better offer is really good, right?
A short time later the collection emerges for sale (mostly raw) at the Bay State Coin Show, Boston, MA. Dealers have to take tickets to line up to buy the coins form the Newington, CT dealer. The line is long. The collection ultimately sold for approx $500,000+ once pieced out. It included many choice and gem 19th century type coins, and numerous fresh, original rolls from the early 20th century. Nice red rolls of choice/gem 1911-S LIncoln cents were auctioned on Teletrade, NY in MS65/66 condition over a number of months/years. Many other semi-key roll dates as well. IIRC the 1911-s cents alone were worth in the $20K-$25K range.
When later asked why the G. Fox guy let those coins walk for only $5K their reply was........."if I can't buy them at my price, I don't want them." With over 30 yrs passing since this 'event,' no doubt some "folk lore" has injected itself into the story. Mr Eureka, Colonel Jessup, and others are fairly well versed in this story. Most dealers I know would have helped steered the widow in the right direction or took it on consignment netting her $400K+.
My mom, an antiques dealer, told me 40 years ago that instead of turning in their gold, many people used double eagles to weigh down their curtains. I am glad to hear this somewhat verified by a similar story.
He who knows he has enough is rich.