Who buys this coin?

Gazes

I saw the gorgeous 1864 $10 Proof 65UCAM CAC is being sold on Great Collections this weekend. Current bid is $205,202. And my thought was who will buy this coin?

Will it be one of the mega collectors we know about? A dealer who wants to cross it to pcgs and sell it? Registry collector? A collector we have never heard of and will never hear about? A proof gold specialist?

My guess is it will be a dealer who will cross it and has a buyer or buyers he know are interested OR someone we do not know exists.

Just interesting to me that a mega $200,000 plus coin will sell soon with very little fanfare and wondering where it will go.

ShaunBC5

I don’t know who ends up with something like this.
Is this the sort of thing that gets purchased and then disappears for 20yrs before resurfacing again, or something that shows up at auction again in a year with more fanfare around it?

nwcoast

I can think of a few possibilities.
Some may even be participants in this forum.
Out of courtesy however, I will keep my speculations to myself ;-)

Jimnight

Nice coin!

1northcoin

Let us know what it goes for at the end of the auction.

skier07

I have no idea who will buy the coin but if I was the seller I would have done everything possible to cross at the same grade and if I were the buyer I would most likely assume that the seller was unable to cross it. Nevertheless it’s a beautiful coin.

DetectorKay

completely ridiculous theory from a video years ago called the modern coin business - private collector acquires exceptional coin to cross and make a profit off label brand collectors. news of the coin and cross attempt spreads in the behind the scenes tpg/dealer/sticker/auction house collaboration. numerous collector attempts unsuccessful. collector gives up, acquires sticker to generate at least some profit from sticker collectors. coin goes to auction. collaboration member buys coin, coin immediately crosses, coin immediately gets new sticker and coin goes to auction. big profit made. dealer wins once, tpg wins numerous times, sticker seller wins at least twice and auction house twice. the entire collaboration wins. only losers are collectors. next wave of gradeflation comes along and the cycle, without the cross but with re grades, repeats. anyone here find that images in the modern electronic age are a magnificent research tool?

coinbuf

Interesting first post, who did you used to be?

Gazes

For what it's worth the Tyrant has a PCGS PR 64 Cam example. Hansen does not appear to have this coin but I also dont know how aggressive he is in trying to cross coins he needs.

JimTyler

Going to be my new pocket piece

JimTyler

@DetectorKay said:
completely ridiculous theory from a video years ago called the modern coin business - private collector acquires exceptional coin to cross and make a profit off label brand collectors. news of the coin and cross attempt spreads in the behind the scenes tpg/dealer/sticker/auction house collaboration. numerous collector attempts unsuccessful. collector gives up, acquires sticker to generate at least some profit from sticker collectors. coin goes to auction. collaboration member buys coin, coin immediately crosses, coin immediately gets new sticker and coin goes to auction. big profit made. dealer wins once, tpg wins numerous times, sticker seller wins at least twice and auction house twice. the entire collaboration wins. only losers are collectors. next wave of gradeflation comes along and the cycle, without the cross but with re grades, repeats. anyone here find that images in the modern electronic age are a magnificent research tool?

Did someone forget to take their meds this morning?
Actually I agree but I’ve been saying it with a lot less words.

rec78

A person with a lot more money than I have.

ricko

Beautiful gold coin... I will leave the conspiracy theories to others..... I just like the coin. Cheers, RickO

ElmerFusterpuck

One of the posts above is way low on coherent sentence structure fluid.

TwoSides2aCoin

No matter how many hands a coin goes through, they will eventually find a home and disappear for a time. Some forever. Nice coin.

steveben

someone with good taste in coins and deep pockets

WAYNEAS

Dam that is a nice coin.
I wonder if they would let me hold onto it until it finds a new home. lol
Wayne

Gazes

For those keeping track the coin is up to $235,000 without including commission.

SilverProofQuarter1883

Someone with ONE BILLION DOLLARS 😈😈😈

cameonut2011

That's a really strong price especially for being in NGC plastic.

Cougar1978

A wealthy fan of PF 19th century gold buys this. Somebody who knows what they are looking for. It’s a really beautiful piece very nice for the grade.

pmh1nic

I’d like to know why we were striking proof gold coins in the middle of a civil war.

Walkerfan

I’ll just say this:

The sea is full of whales that we know nothing about.

MFeld

@Walkerfan said:
I’ll just say this:

The sea is full of whales that we know nothing about.

And many of them are perfectly fine buying coins in NGC holders.

cameonut2011

@MFeld said:

@Walkerfan said:
I’ll just say this:

The sea is full of whales that we know nothing about.

And many of them are perfectly fine buying coins in NGC holders.

Don’t tell Laura… 😂

coinbuf

@MFeld said:

@Walkerfan said:
I’ll just say this:

The sea is full of whales that we know nothing about.

And many of them are perfectly fine buying coins in NGC holders.

Which seems to be a very big surprise to some. It is a very beautiful proof and I'm sure that the new owner will enjoy his/her stewardship of it.

Namvet69

I'll pass. I like my collection just fine. Peace Roy

Gazes

@Walkerfan said:
I’ll just say this:

The sea is full of whales that we know nothing about.

This was my thought when I created the OP. Its coins like this that get bought without alot of fanfare for very big dollar amount from a collector who loves coins but we may never hear about even when it sells.

cameonut2011

For whatever it is worth, it appears to have strong cameo contrasts for even a DCAM designation and appears to be a really special coin worth a premium.

edwardjulio

.

breakdown

There's an 1864 double eagle proof NGC 64 Cameo in the same sale. It last sold in 2014 for just under $200,000. Coins like these just don't come up for sale very often.
Ian is getting some wonderful coins.

ianrussell

@Gazes said:
I saw the gorgeous 1864 $10 Proof 65UCAM CAC is being sold on Great Collections this weekend. Current bid is $205,202. And my thought was who will buy this coin?

Will it be one of the mega collectors we know about? A dealer who wants to cross it to pcgs and sell it? Registry collector? A collector we have never heard of and will never hear about? A proof gold specialist?

My guess is it will be a dealer who will cross it and has a buyer or buyers he know are interested OR someone we do not know exists.

Just interesting to me that a mega $200,000 plus coin will sell soon with very little fanfare and wondering where it will go.

Little fanfare? We've flown this coin around the country, placed full page ads in CoinWorld, marketed to potential bidders locally, nationally and internationally. Over 4000 page views and 107 people currently tracking. Definitely there's some fanfare!

PS. It's also our millionth coin.

• Ian

Gazes

@ianrussell said:

@Gazes said:
I saw the gorgeous 1864 $10 Proof 65UCAM CAC is being sold on Great Collections this weekend. Current bid is $205,202. And my thought was who will buy this coin?

Will it be one of the mega collectors we know about? A dealer who wants to cross it to pcgs and sell it? Registry collector? A collector we have never heard of and will never hear about? A proof gold specialist?

My guess is it will be a dealer who will cross it and has a buyer or buyers he know are interested OR someone we do not know exists.

Just interesting to me that a mega $200,000 plus coin will sell soon with very little fanfare and wondering where it will go.

Little fanfare? We've flown this coin around the country, placed full page ads in CoinWorld, marketed to potential bidders locally, nationally and internationally. Over 4000 page views and 107 people currently tracking. Definitely there's some fanfare!

PS. It's also our millionth coin.

• Ian

I stand corrected!

joebb21

@ianrussell

congrats on 1,000,000 coins sold!

I wonder if it would have been a dud of a sale if it was only the 999,999 coin. Perhaps the 1,000,001th coin people will just go meh as well...

cameonut2011

Nice coin. Congratulations to both the buyer and the consignor.

cameonut2011

$298,125 with buyer's fee.

ianrussell

@joebb21 said:
@ianrussell

congrats on 1,000,000 coins sold!

I wonder if it would have been a dud of a sale if it was only the 999,999 coin. Perhaps the 1,000,001th coin people will just go meh as well...

Our Millionth and One coin did very well too.

:-)

• Ian

oreville

ian,

Congratulations on the honor of auctioning this fine proof gold coin.

I am still busy acquiring more of the interesting slabs you like.