1794 SP66.....
Boosibri
Posts: 12,300 ✭✭✭✭✭
Boosibri
Posts: 12,300 ✭✭✭✭✭
Boosibri
Posts: 12,300 ✭✭✭✭✭
Comments
You swallowed it?
Great transactions with oih82w8, JasonGaming, Moose1913.
The auctioneer really tried his hardest to get a bid. I'm surprised the $10 didn't sell; a really incredible coin - auctions need to post more videos of coins to show luster rather than static images.
Agree, I loved the $5 and $10.
Latin American Collection
Was really painful indeed.
Some of his gems selling for well below estimates and previous records - whoa moments!
For example Lot 14 sold for literally half of previous record.
Wonder what happens next. Try to auction it again in a few years?
it's sad to see how weak this is.
1804 passed as well. Was Legend the right venue for this collection?
If i had the extra cash I would definitley bought the 1794 dollar....no doubt about it!
I give away money. I collect money.
I don’t love money . I do love the Lord God.
I don't think it is venue. You need a couple of collectors in building sets requiring these types of coins. Without Simpson, Bruce, Pogue and Jung chasing these coins at the same time, these are the results.
earl
earlyAurum said it well. Most of the big collectors are out at this moment. Very tough to watch.
I wonder how many of these coins will be purchased by Hansen.
His Bust Dollars seemed to go to different bidders. Maybe a couple of bidders bought multiple coins.
Good time to start a high end Bust Dollar collection
Latin American Collection
Who are the big collectors now?
Hansen, Tyrant, others?
I don’t know others but the ones I mentioned are out.
I’m personally ecstatic that it did not sell at the minimum bid. Finding out about the striking ceremony presentation and forwarding of a coin to Washington AFTER consigning the coin made my heart sink. Seeing all the coins one last time right before the sale made it sink even more.
I’ll be happy with my box of 3.
A better trio can not be found, anywhere.
My 20th Century Gold Major Design Type Set ---started : 11/17/1997 ---- completed : 1/21/2004
I TOTALLY disagree. If you've got the scratch to buy these coins, the pandemic isn't going to affect you in the least, and you certainly aren't worried about pandemic relief. There are plenty of people dumping plenty of money in assorted collectible fields right now.
One of the great oddities of this pandemic is that the stock market is right about the same value that it was at the start of the year. I don't trust the Dow's value given it's shake up in stocks over the last year, but the S&P 500 is a broad enough portfolio to give a pretty good eyeball at the market. It's actually (minimally) up since the start of the year, and up over 10% over the last full year. So those that have money still have money, and the more intelligent of them have a diversified portfolio of asset classes.
U.S. Type Set
You've got the best box of 3 ever imagined Bruce! That George Washington connection that emerged after you put the coin up for auction was really historic news that closely ties it as an important early federal Washington artifact more so than just an amazing coin.
Awesome coins Bruce!
I'm also glad they didn't sell for the minimum price. That would be a sad result. Much better to keep them.
Nice to have a "second chance" at owning a coin that is enjoyed!
peacockcoins
Agree. You were able to raise money from the sale but still got to keep the three best coins. I think that’s called being able to ‘have your cake and eat it too’. 😉 Best possible result, in my humble opinion. The Washington connection further sweetens the pot, as well. You are very lucky.
Sometimes, it’s better to be LUCKY than good. 🍀 🍺👍
My Full Walker Registry Set (1916-1947):
https://www.ngccoin.com/registry/competitive-sets/16292/
My reserves were too strong for the market conditions. But I’m glad I had them based on a few results. I’m happy with my box of 3.
So, what will you collect next?
Latin American Collection
Silver dollar ultra rarities
If TDN is pleased with the outcome that is all that matters.
Love your box of three.
On to your next project. Have a blast while working on it.
I saw a tray of Ike dollars at a pawn shop the other day. I'll go back later in the week and see if there are any toughies in there.
I was surprised someone didn’t grab it for 7M (8.225 w/juice)....seems like it would have been a score for that person, with likely future sale at significantly higher level...as the unique history of the coin sinks in further over the next several years.
But it is also nice to know it’s with a genuine coin lover .... and not sitting with an investor cone-head who bought it solely to flip and could care less about its special aspects.
Well said and for the doubters TDN's sentiment definitely erases any question about his being a collector.
Overall, and not considering the three coins that did not sell, how did the auction do when the buyer's fee was added in to the hammer price? What was strong, weak or about the same?
This.
Bruce co-owns Legend right? So hammer isn't the price to compare to, it's the full juiced (17.5%) price for comparison.
Even with a "reserve" of $8 million on the 1794, that was an effective starting bid of $9.4 million with juice. So basically the reserve was set at almost what it sold for previously. Doesn't seem they were too worried if it didn't sell. Just hold and try again later.
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My sets: [280+ horse coins] :: [France Sowers] :: [Colorful world copper] :: [Beautiful world coins]
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Reserve, or opening bid as it was termed, was $7M, or $8.225M.
Latin American Collection
You do not put items in an auction hoping they do not sell.
Good to know. I heard wrong ATS then.
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My sets: [280+ horse coins] :: [France Sowers] :: [Colorful world copper] :: [Beautiful world coins]
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When you own the Auction company, what's the risk?
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My sets: [280+ horse coins] :: [France Sowers] :: [Colorful world copper] :: [Beautiful world coins]
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As has been said, the market for mega-coins has softened because too many of the whales have been selling. Then again, the market for these coins ran up strongly while some of the same whales were buying.
IMHO, the mega-coins are still a little too expensive compared to the rest of the market, but they’re starting to get tempting. So even at the lower levels, I’d say the auction was reasonably strong.
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
Bruce,
the three you ended up keeping would be a pleasure to own period.
Not necessarily true. I added the 1804$1 to the auction knowing that I didn’t want it to sell but feeling it needed to be there to show the full stature of the set.
Subsequent to consignment, I found additional information that made the 1794 even more desirable. Thus I was relieved when it didn’t sell at the minimum bid though I would have been pleased at a runaway bid.
I hope you can appreciate the nuances here.
I agree 100%. There's an important aspect to putting the entire set there to generate interest and buzz. And also not wanting coins to sell at minimum bid.
Cheers to the consignor, enjoying the ride even over the bumps is half the battle. You can't lose when you love what you're doing.
11.5$ Southern Dollars, The little “Big Easy” set
TDN.
What was the additional information about your 1794 dollar that you found out about?
The striking ceremony with a presentation coin given to the Secretary of State...forwarded to George Washington the next day.
If you knew the secretary of state was coming and you were going to give him a coin, you would make it the best coin possible
TDN.
Thank you for the information.
Is there anything in this new information that indicates your 1794 dollar is the presentation coin?
If so, that is a fantastic development that makes your coin even more special.
That's awesome! You need to get a new slab with a new provenance:
"Washington - Morelan"
And PCGS should do you a solid and return this to the 00001794 cert number.
While the big 3 still belong to Bruce, some of the other coins in the auction went nuts, percentage wise. A nicely toned common 1858 in AU-50 with a gold stick went far over guide. The 1872 half dime in AU-58 green stick was nicely toned, but went pretty far up. The toned Morgans seemed to do very well too.
10-4,
My Instagram picturesErik
My registry sets
Is that why the mint selected a planchet with heavy adjustment file marks to strike this coin?
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
Adjustment marks meant very little at the time. Practically every large coin had them