i'd have to go with the damaged one only because it is so much more meat. problem-free is nice but i think i would enjoy the damaged one with so much more details and thusly, sharing it more, even if it wasn't straight-graded but it is, so even better.
i understand early coinage and gold gets a little leeway and it should but this one certainly pushes the bounds.
technically i can't complain. i sent a 16 5c ddo to gc to go to pcgs and it had a major dig in the field and it came back a 1 straight-graded and netted down a lot for the ding. it looks much bigger in-hand imo. since i paid .30, anything it sold for was just profit after grading/consignment.
Agreed. It is a fascinating piece and worth every bit of 500k.
I still have a hard time believing that this FR02 is $100k coin, though.
Probably a complete outlier
Dead Cat Waltz Exonumia
"Coin collecting for outcasts..."
Agreed. It is a fascinating piece and worth every bit of 500k.
I still have a hard time believing that this FR02 is $100k coin, though.
Probably a complete outlier
This MS63 might go an increment or two higher but I just don’t see it crossing $300k all in, despite the crazy number for the FR02. However, I hope I’m wrong- I own two higher graded examples.
Agreed. It is a fascinating piece and worth every bit of 500k.
I still have a hard time believing that this FR02 is $100k coin, though.
Probably a complete outlier
This MS63 might go an increment or two higher but I just don’t see it crossing $300k all in, despite the crazy number for the FR02. However, I hope I’m wrong- I own two higher graded examples.
I agree. I think the FR-2 is an outlier. NGC plastic and lack of a CAC sticker are going to severely limit potential. It also looks like a maxed out AU63 which is going to hurt.
This MS63 might go an increment or two higher but I just don’t see it crossing $300k all in, despite the crazy number for the FR02. However, I hope I’m wrong- I own two higher graded examples.
Sweet! Dang it, I knew I should have been a face lifter! 🤓
How’s about sharing some pics? Of the dismes …. not the faces … that would probably be breaking some confidentiality rules or something.
This MS63 might go an increment or two higher but I just don’t see it crossing $300k all in, despite the crazy number for the FR02. However, I hope I’m wrong- I own two higher graded examples.
Sweet! Dang it, I knew I should have been a face lifter! 🤓
How’s about sharing some pics? Of the dismes …. not the faces … that would probably be breaking some confidentiality rules or something.
Agreed. It is a fascinating piece and worth every bit of 500k.
I still have a hard time believing that this FR02 is $100k coin, though.
Probably a complete outlier
This MS63 might go an increment or two higher but I just don’t see it crossing $300k all in, despite the crazy number for the FR02. However, I hope I’m wrong- I own two higher graded examples.
Agreed. It is a fascinating piece and worth every bit of 500k.
I still have a hard time believing that this FR02 is $100k coin, though.
Probably a complete outlier
This MS63 might go an increment or two higher but I just don’t see it crossing $300k all in, despite the crazy number for the FR02. However, I hope I’m wrong- I own two higher graded examples.
You are a guru!!!
Hammered at $210k + 20% buyer's premium
The FR02 buyer cannot be too pleased.
Haha I don’t know about guru, but I have studied the pricing on these in depth over the last year or two!
Such a magical coin. I imagine the person that paid the 100k for the FR02 may have just been happy to afford it and not have had the funds to pay an extra $150k for the stellar example above.
They sure are worlds apart in quality but still the same
Dead Cat Waltz Exonumia
"Coin collecting for outcasts..."
@DCW said:
Such a magical coin. I imagine the person that paid the 100k for the FR02 may have just been happy to afford it and not have had the funds to pay an extra $150k for the stellar example above.
They sure are worlds apart in quality but still the same
That's a great way to assess the two recent auctions for this coin they call a Half Disme.
Just remember that the FR-2 hasn't be actually paid for yet...I assume, lets see if it does, especially after this last sale.
Would you go thru with it after learning about an ms63 selling at only $250k?
@trueblood said:
Just remember that the FR-2 hasn't be actually paid for yet...I assume, lets see if it does, especially after this last sale.
Would you go thru with it after learning about an ms63 selling at only $250k?
Well yes, of course, a deal is a deal- don’t bid if you’re not willing and able to pay!
@trueblood said:
Just remember that the FR-2 hasn't be actually paid for yet...I assume, lets see if it does, especially after this last sale.
Would you go thru with it after learning about an ms63 selling at only $250k?
It appears to me that irrational exuberance may have been in play on the GC auction for the FR02.
@trueblood said:
Just remember that the FR-2 hasn't be actually paid for yet...I assume, lets see if it does, especially after this last sale.
Would you go thru with it after learning about an ms63 selling at only $250k?
It appears to me that irrational exuberance may have been in play on the GC auction for the FR02.
Agreed. It is a fascinating piece and worth every bit of 500k.
I still have a hard time believing that this FR02 is $100k coin, though.
Probably a complete outlier
A MS63 is only 5x the price of a FR02?
Using the Sheldon Scale, it should be 31 times more or $3,150,000!
I have to believe if a buyer could afford $105k for a low grade, he/she can afford to pay $150k more for a 63. But I can always be unrealistic with these things.
The FR02 example sold for as much as it did due to the backstory and publicity, not due to the grade. The market finds things like that hot right now. Comparing its result to that of another example does not make much sense, and valuing another example based upon its result certainly does not.
@Rexford said:
Comparing its result to that of another example does not make much sense, and valuing another example based upon its result certainly does not.
There are those who have trouble with the idea that there is not one "correct" price for things.
@Rexford said:
The FR02 example sold for as much as it did due to the backstory and publicity, not due to the grade. The market finds things like that hot right now. Comparing its result to that of another example does not make much sense, and valuing another example based upon its result certainly does not.
The back story was a nothing burger, I cannot believe that the story motivated anyone. The publicity was minimal imo. Similar to a guy finding a bag of cash in an old goodwill couch. What happened here imo is a newly crowned millionaire found something that intrigued him and didn't buy the book because he was over laden with cash which allows for mistakes.
@Rexford said:
The FR02 example sold for as much as it did due to the backstory and publicity, not due to the grade. The market finds things like that hot right now. Comparing its result to that of another example does not make much sense, and valuing another example based upon its result certainly does not.
The back story was a nothing burger, I cannot believe that the story motivated anyone. The publicity was minimal imo. Similar to a guy finding a bag of cash in an old goodwill couch. What happened here imo is a newly crowned millionaire found something that intrigued him and didn't buy the book because he was over laden with cash which allows for mistakes.
Those are a lot of assumptions you’re making as to who to buyer might be, why they have their money, and their relative knowledge of what they’re buying. Don’t forget that there are at least two bidders required.
As @MasonG rightly pointed out, we are too often swayed by the idea that coins have standardized values. Any number of factors aside from grade that cause a coin to stand out may result in an effect on their relative interest and value. There are no rules that buyers must not let their personal valuations of a coin exceed a certain standardized threshold of value. To suggest that individual coins are objectively worth or should not exceed a certain amount is to suggest that all coins must be appreciated or desired the same way by all buyers, and that certain forms of interest in a coin are thus faulty. The buyer of this coin may be the only person in the world who values the piece in the way they do, but that does not make them wrong.
Rexford,
I respect your numismatic work in the field But in this particular case I just have to disagree with you. Look at all the crazy high prices in the last 2 weeks. No coincidences here. When the 1933 went for $20M double its previous it became a spotlight for the rest of the rarities. Kind of like Bitcoin, investors got interested, it got their attention. Where can a newly made millionaire put his/her money, not in the bank, not in bitcoin while its high and fluctuating, not in real estate while it is at its height. Not in gold while its pretty high. coins have floundered for years.
So he gets caught up in an auction, has to have it mentality, been watching it on Great Collections for a month, and goes crazy. It has happened to me on multiple occasions. He probably didn't even see the 63 or assumed it was way out of his range. Thought it would go for $50k, put a nuclear bid that he never thought would hit to win it and it went up to his bid. Happens a lot. So maybe in his mind he over spend by $50k, has the money and now has a great piece of history.
@trueblood Again, you are making assumptions about who the bidder is, how they have gained their money, whether they were aware of other examples or of how the type is typically valued, and now about their bidding strategy and whether they intended to win it at this price. That's a lot of ifs based off of personal experience and opinion, and is ignoring the bigger picture of where the market is placing its focus right now. Yes, the 1933 $20 went for a solid price (though it could very well have gone for more, and double the previous isn't all that much considering the previous sale was almost two decades ago), but I do not believe that price is indicative of much, because that is the very top end of the market and when the buying crowd is small prices become extremely variable. If one potential bidder decides to opt out, that can be hundreds of thousands or even millions of dollars of difference.
However, the trend of high prices that you observe as having taken place over the last few weeks does exist, and it in fact has not been a trend for only two weeks, but from since near the beginning of the pandemic around March 2020. It is most observable in prices realized for world coins. If you want to see what I mean, look at the sales of the Paramount collection (Heritage), the most recent Cape Coral section (Heritage), the recent MDC sale, the Pinnacle collection (Stack's), the NC Collection (Champion), and many others (although the latter two auctions are mostly Chinese coins, which involve additional factors for increases in price). All of those collections contain coins that sold for multiples of what their valuations might have been 2+ years ago, with some differing by hundreds of thousands or, in one or two instances, over a million dollars. It is not a coincidence that this is the most observable with world coins, as world coin values are far less standardized than US coins and there is more room for personal valuation to express itself - and because there is much more opportunity for world coins to display uniquely appealing factors, as many of them are truly rare and special. Most high-value US coins are known and understood, and there is less excitement about them. But, when a US coin pops up that is different in some way or another that attracts attention, its value can increase.
The point I am trying to make is that this piece realized what it did for the simple reason that it was brought to attention of the public eye in a greater way than other examples typically are due to its fun and intriguing backstory, and by standing out from the crowd in this way it garnered more buyer interest and higher desirability. Whether the buyer of this particular piece is new money or old money is not very relevant, but why this particular coin stuck out to that buyer is. Yes, there is a lot more money floating around out there these days, but it's not being seen in every corner of the numismatic market. For example, the MS63 half disme mentioned in this thread dropped in sale price from its previous $305,500 in 2015. There are many other coins that have dropped in value or have not been affected by the new flow of capital into the hobby. The coins that have been affected follow a trend: people like owning things that that are different or exceptional in some way or another (and if this difference is easy to observe and explain, it appeals to more people). This is one of the reasons why toned coins are valuable, besides being attractive: they are different, and they can easily be shown off and understood as special. Owning coins that are virtually identical to thousands of other examples out there is boring, and at some point it can be less about the coin and more about the story.
Rexford,
I have seen prices rise dramatically very recently, not aware of it happening when the pandemic began last March.
Obviously this outlier approx $104k auction price had zero effect on the ms63 example that went for approx $250k.
I still believe that someone(s) recently monied and uneducated wanted this piece and put a nuclear bid in it surprisingly rose to that level. There is no way a learned collector would have bid it up, especially when the ms63 was coming up right behind it at a much favorable and pretty much expected price.
You are a dealer, therefore it behooves you to want prices to be rising, I get that,I appreciate that and I am seeing it but this auction in particular is not something that can be relied upon as setting value for Fair half dismes and should be ignored by any and all price guides because it makes zero sense. I still wonder if it gets paid.
Agreed. It is a fascinating piece and worth every bit of 500k.
I still have a hard time believing that this FR02 is $100k coin, though.
Probably a complete outlier
This MS63 might go an increment or two higher but I just don’t see it crossing $300k all in, despite the crazy number for the FR02. However, I hope I’m wrong- I own two higher graded examples.
You are a guru!!!
Hammered at $210k + 20% buyer's premium
The FR02 buyer cannot be too pleased.
.
.
I'm guessing the FR02 buyer is pleased with it and knows exactly what they were doing and had about a month to think about it while the listing was up.
There was also more than one bidder near that price. It would be a key coin in a lowball set. We will have to see if it turns up in one. Most lowball prices are automatically outliers and don't indicate the rest of the market.
@Rexford said:
Comparing its result to that of another example does not make much sense, and valuing another example based upon its result certainly does not.
There are those who have trouble with the idea that there is not one "correct" price for things.
I agree.
Also there are those who assume that a grade on the holder means that's what it is.
The just sold NGC-63 used to be called AU when offered in Bowers and Ruddy fixed price list in the 1970's and as a raw AU-50 when auctioned by Bowers and Merena in 1987. The $14,300 realized in 1987 was consistent with XF to AU prices at the time and under what AU coins auctioned for in the next two years (from looking at the annual Prices Realized books published each year). Was it undergraded then or overgraded now? Or possibly both.
That NGC-63 also had sold for $402,500 in 2008 then only $305,000 in 2015 and now $252,000. Could be viewed that the market is either dropping or possibly that people are ignoring the holder number and buying the coin for closer to what they grade it or both. It's been moving closer to the AU price each time since 2008.
Comments
The F15.
What did it sell for?
I wonder what this 1792 Disme is worth now?
https://auctions.stacksbowers.com/lots/view/3-J3Z5R/1792-disme-judd-10-pollock-11-rarity-6-copper-reeded-edge-specimen-8-pcgs-cac
Sunshine Rare Coins
sunshinecoins.com/store/c1/Featured_Products.html
$84,000 less than 2 months ago on April 21, 2021.
Thank you. I look forward to the next auction of the 1792 Disme......will be very interesting.
One is at Heritage in a few days, MS63
Dead Cat Waltz Exonumia
"Coin collecting for outcasts..."
Can’t wait!
I do not think that the F-15 should have straight graded.
That F15 should never have straight graded....ridiculous.... Please don't tell me it also has a cac sticker
Many members on this forum that now it cannot fit in my signature. Please ask for entire list.
The 15 coin does not have a CAC sticker.
i'd have to go with the damaged one only because it is so much more meat. problem-free is nice but i think i would enjoy the damaged one with so much more details and thusly, sharing it more, even if it wasn't straight-graded but it is, so even better.
i understand early coinage and gold gets a little leeway and it should but this one certainly pushes the bounds.
technically i can't complain. i sent a 16 5c ddo to gc to go to pcgs and it had a major dig in the field and it came back a 1 straight-graded and netted down a lot for the ding. it looks much bigger in-hand imo. since i paid .30, anything it sold for was just profit after grading/consignment.
gc gets it done...
Very cool coin.
If the GC FR02 CAC Half Disme can bring $100k, this coin should be in the $500k range IMO.
Current Bid $195k with BP $234
Next Bid is $200k....2 days left.
Read the history of the coin in the description(via link).....so interesting.
https://coins.ha.com/itm/early-half-dimes/half-dimes/1792-h10c-half-disme-judd-7-pollock-7-r4-ms63-ngc-pcgs-11020-/a/1331-3061.s?ic4=ListView-Thumbnail-071515
Agreed. It is a fascinating piece and worth every bit of 500k.
I still have a hard time believing that this FR02 is $100k coin, though.
Probably a complete outlier
Dead Cat Waltz Exonumia
"Coin collecting for outcasts..."
This MS63 might go an increment or two higher but I just don’t see it crossing $300k all in, despite the crazy number for the FR02. However, I hope I’m wrong- I own two higher graded examples.
I agree. I think the FR-2 is an outlier. NGC plastic and lack of a CAC sticker are going to severely limit potential. It also looks like a maxed out AU63 which is going to hurt.
Shame NGC is so darn loose, what happened to them
Sweet! Dang it, I knew I should have been a face lifter! 🤓
How’s about sharing some pics? Of the dismes …. not the faces … that would probably be breaking some confidentiality rules or something.
Haha you got it!
MS64
MS 66 CAC
i sure recognize 2947. lovely pair.
Looking at her portrait it seems the horses were very fast in 1792!
@Floridafacelifter wow, terrific pair! (…..)
Next Bid remains at $200k....under 24 hours to go.
@Floridafacelifter Whoa! That MS66 is really something special!
Next Bid at $220k....it's crunch time.
You are a guru!!!
Hammered at $210k + 20% buyer's premium
The FR02 buyer cannot be too pleased.
Haha I don’t know about guru, but I have studied the pricing on these in depth over the last year or two!
The real winner in the auction of the FR-2 at $104,625 is the under bidder because he did not get the coin.
Such a magical coin. I imagine the person that paid the 100k for the FR02 may have just been happy to afford it and not have had the funds to pay an extra $150k for the stellar example above.
They sure are worlds apart in quality but still the same
Dead Cat Waltz Exonumia
"Coin collecting for outcasts..."
That's a great way to assess the two recent auctions for this coin they call a Half Disme.
But.....I'd much prefer to have that extra $150k.
Just remember that the FR-2 hasn't be actually paid for yet...I assume, lets see if it does, especially after this last sale.
Would you go thru with it after learning about an ms63 selling at only $250k?
Well yes, of course, a deal is a deal- don’t bid if you’re not willing and able to pay!
It appears to me that irrational exuberance may have been in play on the GC auction for the FR02.
I can only agree
A MS63 is only 5x the price of a FR02?
Using the Sheldon Scale, it should be 31 times more or $3,150,000!
I think rather the reverse- the FR02 should be 1/31 the price of the MS63, $252,000 divided by 31 = $8179
IMO that was a fair price for the MS63
Here’s a PCGS/CAC 63 from 2018 that I was watching that sold for basically the same price
I have to believe if a buyer could afford $105k for a low grade, he/she can afford to pay $150k more for a 63. But I can always be unrealistic with these things.
The FR02 example sold for as much as it did due to the backstory and publicity, not due to the grade. The market finds things like that hot right now. Comparing its result to that of another example does not make much sense, and valuing another example based upon its result certainly does not.
Gobrecht's Engraved Mature Head Large Cent Model
https://www.instagram.com/rexrarities/?hl=en
There are those who have trouble with the idea that there is not one "correct" price for things.
If I told my wife that I had paid one hundred big ones for the FR02 and then showed it to her she would have me committed.
What if the 💯 grand was for any coin?
The Sheldon Scale starts low and goes up right?
I was just flipping the script on you and reversing the joke
Hopefully coins are worth more! Not less!
The back story was a nothing burger, I cannot believe that the story motivated anyone. The publicity was minimal imo. Similar to a guy finding a bag of cash in an old goodwill couch. What happened here imo is a newly crowned millionaire found something that intrigued him and didn't buy the book because he was over laden with cash which allows for mistakes.
Those are a lot of assumptions you’re making as to who to buyer might be, why they have their money, and their relative knowledge of what they’re buying. Don’t forget that there are at least two bidders required.
It is not a coincidence that the piece is a fresh discovery and solely realized this price, while other examples of the type do not. This upcoming pattern half dime that is unique in nickel will also realize a disproportionate price for what it is, because it also was only just discovered (rediscovered, really) after being lost since the Farouk sale, and because it was recently featured by NGC as such. https://www.greatcollections.com/Coin/990317/Pattern-1871-H10c-J-1067a-NGC-Proof-60-CAC-Ex-Farouk-Collection. If this pattern were in the recent Simpson sale as a unique but known-to-be-available example, it would not have received the same sort of attention or interest. There were plenty of unique pieces in that sale, including this similarly unique nickel striking of an 1870 25 cent pattern which realized only a little more than half of the current bid on the half dime, despite being a larger denomination: https://coins.ha.com/itm/patterns/1870-25c-standard-silver-quarter-dollar-judd-893a-pollock-991-unique-pr64-pcgs-pcgs-71137-/a/1329-4221.s?ic4=ListView-ShortDescription-071515
As @MasonG rightly pointed out, we are too often swayed by the idea that coins have standardized values. Any number of factors aside from grade that cause a coin to stand out may result in an effect on their relative interest and value. There are no rules that buyers must not let their personal valuations of a coin exceed a certain standardized threshold of value. To suggest that individual coins are objectively worth or should not exceed a certain amount is to suggest that all coins must be appreciated or desired the same way by all buyers, and that certain forms of interest in a coin are thus faulty. The buyer of this coin may be the only person in the world who values the piece in the way they do, but that does not make them wrong.
Gobrecht's Engraved Mature Head Large Cent Model
https://www.instagram.com/rexrarities/?hl=en
Rexford,
I respect your numismatic work in the field But in this particular case I just have to disagree with you. Look at all the crazy high prices in the last 2 weeks. No coincidences here. When the 1933 went for $20M double its previous it became a spotlight for the rest of the rarities. Kind of like Bitcoin, investors got interested, it got their attention. Where can a newly made millionaire put his/her money, not in the bank, not in bitcoin while its high and fluctuating, not in real estate while it is at its height. Not in gold while its pretty high. coins have floundered for years.
So he gets caught up in an auction, has to have it mentality, been watching it on Great Collections for a month, and goes crazy. It has happened to me on multiple occasions. He probably didn't even see the 63 or assumed it was way out of his range. Thought it would go for $50k, put a nuclear bid that he never thought would hit to win it and it went up to his bid. Happens a lot. So maybe in his mind he over spend by $50k, has the money and now has a great piece of history.
Question whether either the F-15 or FR02 should have. A problem free 1792 Half Disme is a true rarity.
@trueblood Again, you are making assumptions about who the bidder is, how they have gained their money, whether they were aware of other examples or of how the type is typically valued, and now about their bidding strategy and whether they intended to win it at this price. That's a lot of ifs based off of personal experience and opinion, and is ignoring the bigger picture of where the market is placing its focus right now. Yes, the 1933 $20 went for a solid price (though it could very well have gone for more, and double the previous isn't all that much considering the previous sale was almost two decades ago), but I do not believe that price is indicative of much, because that is the very top end of the market and when the buying crowd is small prices become extremely variable. If one potential bidder decides to opt out, that can be hundreds of thousands or even millions of dollars of difference.
However, the trend of high prices that you observe as having taken place over the last few weeks does exist, and it in fact has not been a trend for only two weeks, but from since near the beginning of the pandemic around March 2020. It is most observable in prices realized for world coins. If you want to see what I mean, look at the sales of the Paramount collection (Heritage), the most recent Cape Coral section (Heritage), the recent MDC sale, the Pinnacle collection (Stack's), the NC Collection (Champion), and many others (although the latter two auctions are mostly Chinese coins, which involve additional factors for increases in price). All of those collections contain coins that sold for multiples of what their valuations might have been 2+ years ago, with some differing by hundreds of thousands or, in one or two instances, over a million dollars. It is not a coincidence that this is the most observable with world coins, as world coin values are far less standardized than US coins and there is more room for personal valuation to express itself - and because there is much more opportunity for world coins to display uniquely appealing factors, as many of them are truly rare and special. Most high-value US coins are known and understood, and there is less excitement about them. But, when a US coin pops up that is different in some way or another that attracts attention, its value can increase.
The point I am trying to make is that this piece realized what it did for the simple reason that it was brought to attention of the public eye in a greater way than other examples typically are due to its fun and intriguing backstory, and by standing out from the crowd in this way it garnered more buyer interest and higher desirability. Whether the buyer of this particular piece is new money or old money is not very relevant, but why this particular coin stuck out to that buyer is. Yes, there is a lot more money floating around out there these days, but it's not being seen in every corner of the numismatic market. For example, the MS63 half disme mentioned in this thread dropped in sale price from its previous $305,500 in 2015. There are many other coins that have dropped in value or have not been affected by the new flow of capital into the hobby. The coins that have been affected follow a trend: people like owning things that that are different or exceptional in some way or another (and if this difference is easy to observe and explain, it appeals to more people). This is one of the reasons why toned coins are valuable, besides being attractive: they are different, and they can easily be shown off and understood as special. Owning coins that are virtually identical to thousands of other examples out there is boring, and at some point it can be less about the coin and more about the story.
Gobrecht's Engraved Mature Head Large Cent Model
https://www.instagram.com/rexrarities/?hl=en
Rexford,
I have seen prices rise dramatically very recently, not aware of it happening when the pandemic began last March.
Obviously this outlier approx $104k auction price had zero effect on the ms63 example that went for approx $250k.
I still believe that someone(s) recently monied and uneducated wanted this piece and put a nuclear bid in it surprisingly rose to that level. There is no way a learned collector would have bid it up, especially when the ms63 was coming up right behind it at a much favorable and pretty much expected price.
You are a dealer, therefore it behooves you to want prices to be rising, I get that,I appreciate that and I am seeing it but this auction in particular is not something that can be relied upon as setting value for Fair half dismes and should be ignored by any and all price guides because it makes zero sense. I still wonder if it gets paid.
.
.
I'm guessing the FR02 buyer is pleased with it and knows exactly what they were doing and had about a month to think about it while the listing was up.
There was also more than one bidder near that price. It would be a key coin in a lowball set. We will have to see if it turns up in one. Most lowball prices are automatically outliers and don't indicate the rest of the market.
.
.
.
I agree.
Also there are those who assume that a grade on the holder means that's what it is.
The just sold NGC-63 used to be called AU when offered in Bowers and Ruddy fixed price list in the 1970's and as a raw AU-50 when auctioned by Bowers and Merena in 1987. The $14,300 realized in 1987 was consistent with XF to AU prices at the time and under what AU coins auctioned for in the next two years (from looking at the annual Prices Realized books published each year). Was it undergraded then or overgraded now? Or possibly both.
That NGC-63 also had sold for $402,500 in 2008 then only $305,000 in 2015 and now $252,000. Could be viewed that the market is either dropping or possibly that people are ignoring the holder number and buying the coin for closer to what they grade it or both. It's been moving closer to the AU price each time since 2008.
1987 auction listing:
https://archive.org/details/bebeecollection0000bowe/page/162/mode/2up
"To Be Esteemed Be Useful" - 1792 Birch Cent --- "I personally think we developed language because of our deep need to complain." - Lily Tomlin