This seems like quite a haircut...
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This coin just hammered for $1260 plus 12 percent at GC. Same coin sold at legend for $6168 in June of 2019..
https://www.greatcollections.com/Coin/874109/1958-D-Washington-Quarter-PCGS-MS-67-CAC-Toned
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The estimate at Legend was $1,000 - $1,500 so the GC realized price of $1,417.50 seems reasonable.
It's been said that if your coin is the type that Laura likes, Legend is the recommended venue.
Legend has great photos and descriptions by Laura, with a strong customer following.
In addition to having a description vs. not having one, the photos are quite different as well. This coin doesn't have a TrueView so those are Legend photos.
I doubt that it actually sold.
Why anyone would pay even $1260+ for a 1958-D quarter mystifies me. It is just another common date coin with a high plastic grade and a sticker.
I considered buying this, sending it back to Legend, and hoping it goes for half of what it went for
Good luck to the new owner
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I would not be happy as the consignor. Those bottom pictures are terrible
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For the same reasons someone paid $129,250 for a Franklin half at Legend. Grade, sticker, toned beauty.
The colors on the obverse are stunning. The reverse IMO has negative eye appeal (from what is shown in the photos).
Hopefully the 2019 buyer paid the purchase price with money that is (to him) the cost of a morning coffee at Starbucks.
If that sold, someone got a great deal.
Calling @wondercoin for his thoughts
I'd hate to be trying to resell that Franklin!
This has been a topic of discussion before.
I wonder how good of a business one can run by examining off site photos and descriptions.
Interesting. Which of those photos best depicts what the coin actually looks like in hand?
The second set of photos shows glare off the slab that is a common occurrence when trying to image toned coins, so minimally, I'd say the glare is not ideal and not present in hand.
Thanks Zoins. I would then guess that Legend had the advantage of getting to photograph the coin before it got slabbed?
What do you mean, if it sold?
No advantage there. The Legend photos are in-slab photos. You can see the edge view gasket clearly if you zoom in on the photos.
It’s fairly common to be able to adjust and not get the glare for toners, just not everyone can do it. One disadvantage I think GC has is they have to photo a huge volume of coins so may not be able to spend the time per photo a more boutique place can spend, though Stack's seems to do a good job with color at volume.
I think the price from June 19 was an anomaly caused by a couple of over zealous bidders.
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@golden was speculating that it didn't sell and I don't enough about how GC works.
The bottom line is ... people got money.
The only way that a coin receiving bids on GC "doesn't sell" is if an agent for the consignor is the high bidder. Opining that to be the case with this coin is pure speculation unless @golden has inside information.
That can be said about all coins outside of circulation finds and bullion
I’d agree if it was a once or twice occurrence but I’m thinking it’s kind of normal for Legend Auctions.
I'd say if you buy something for moon money on Legend, sell it on Legend.
What is it worth if it upgrades to 68? Just curious. Not my area of the market.
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The crazy thing is that they can't figure out a better way to spend it. Which isn't to bash beautiful Washington Quarters. I like Washington Quarters and might even fill an album with them one day. But there are LOTS of really cool things to collect in this world.
Doggedly collecting coins of the Central American Republic.
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@MrEureka in PCGS ms68, only two auctions one went for $4500, one for $10,000
Well, I am partly to blame for this one. I bid on that coin pretty strongly in the Legend auction. I looked through all the GC toned sales for tonight and somehow missed it. The photos aren’t even close, so that probably contributed. I would certainly buy it at the recent sale price (plus a few hundred if someone wants to flip it).
agree. i would have dipped the reverse only. done it 1-2 times and in the right circumstances and executed properly and safely, works great.
While I love Great Collections, I will admit that their close ups of toned coins do leave a lot to be desired. That’s probably the one big area that they could improve upon. The pictures probably did not help the coin’s sale price.
Maybe crazy like a fox.. Sell it through Le for 6k and buy it back from GC for under 2k. Now send it back to Le.
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Forgot one; iridescent toning with lustrous surfaces would be my preference. Too much toning blocks out any luster the coin may had.....as seen in the first two pics. I think two side toned coins are in higher demand than only one sided.
But way too much light was used in taking the above pic I copied and posted from the auction link from the OP post as we can see how bright the holder is. The coin likely looks like the following pic. But than again, see how dark the Washington portrait is? His head, back of neck? Who the heck sits around in a ill-lighted room looking at coins? lol
Leo
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“Same coin sold at legend for $6168 in June of 2019..”
First, whenever I hear “June, 2019” I simply think of Currin and his posting on the Hansen thread. Whether it’s relevant or not.
Second, there are some unusual things going on during this COVID period. I was tracking a 1972 DDO Cent in MS67+ RD CAC last night that sold at Legend for around $10,500 in May, 2020! So, why would it be offered again at GC here a few months later only to sell at around $7,000 hammer?? I was going to bid further on the coin, but the photos (even the Trueview) show a dark patch around 2:00-3:00 on the obverse in the field and even though it is a CAC coin, I asked Ian about this. He looked at his pics (he was not in the office last evening) and he also felt the black patch was probably on the coin. Hence, I didn’t bid and the coin sold substantially less than if I was invited to bid on it with a free return if it was a problem coin.
I was going to bid somewhere under $8,000 hammer (Lower than usual anyway) because this made no sense to me. Laura has a glowing description on the Cent. It sold below the estimated range at Legend if that range measures the hammer price. Price Guide is $13,000.
But, the pop keeps rising. When Laura sold this same coin in May, pop was 4/1. Now, it is 5/1. I think the coin fetched over $14,000 when it was around 2/1. So, I can wait to pay $6,000 or $7,000 when pop rises to 6/1 or 7/1 or 8/1 which it likely will down the road.
But, I don’t understand... why would the winning bidder in Legend’s auction at around $10,500+ hold the coin for just (60) days or so and ship it off to GC to sell for $7,000 hammer? This couldn’t be simply due to a pop rising from 4/1 to 5/1? Who knows, but if someone was willing to lose 1/3 of their money (around $3,500) on a CAC Top 100 Modern super popular cent in a span of 60-90 days, then it doesn’t surprise me that a common date lovely toned quarter bought in “June, 2019” would lose around 3/4 of its value (around $5,000) around 14 months later. But, as I said... this is unusual - at least to me.
And, I know Legend is a great site to sell beautiful coins or CAC great coins like the 1972 DDO Cent, but Ian gets strong prices too as we all know. So, to me personally, it doesn’t feel this is only about one auction house vs. the other. And, I need to understand more why great collector coins like this 72 DDO Cent reappear at (different) auction months later after selling at decent prices. I hope collectors don’t think they can turn a profit on a 60 day hold buying at public auction; because the result is as we saw yesterday. A 33% loss.
As always, just my 2 cents.
Wondercoin
This is why I no longer purchase monster toned coinage for super strong premiums. If one bidder stays home, it can mean financial disaster when it comes time to sell. I'm glad that I dumped most of my toners while the market was still decent for them.
I think this is the case for anything that sells for moon money and many thinly traded items as well. For these items, you need to know how to manage sales and not just leave it to chance.
It’s interesting to consider the dynamics here. I was not the underbidder, but probably 3rd. So let’s say there were only two above $3500. Now, obviously the top bidder is the one selling, and the second guy might still want it for $5.5K but without me to bid it up, the 4th bidder was apparently way down at $1200 and the second bidder can snap it up for 1/5 of the price.
Overpriced from the very beginning. Just my opinion.
I knew it would happen.
There’s a huge spread in price between 67+ and 68 at PCGS with only 3 in 68.
So, just speculating....
Maybe those 3 are in tight hands which the winner from Legend’s auction in June 2019 was aware of, so it’s possible they were hoping it would upgrade using the Reconsideration service, which maybe it was tried and failed, so the owner consigned it to GC and was hoping to recoup his/her money but unfortunately took a bath when it hammered for a fraction of what they paid.
Amazing price realized!
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