A Big One That Got Away! (1839 Small Letters)

brianc1959

I just found out that I was bidding against someone with an infinite budget (guess who!!), so I suppose I shouldn't feel too bad. https://legendauctions.hibid.com/lot/97055085/50c-1839-reeded-edge--small-letters--pcgs-vf25/

Post your own Big One that didn't land in the boat.

LanceNewmanOCC

i would and there are several but they are just TOO painful.

Rampage

Similar to @LanceNewmanOCC, I can also post a bunch of them. The most recent was an error coin that I bid $4,000 for, but got outbid at the last second for one increment more. Turns out one other person knew it was more than as described. The coin has since turned up on eBay in a PCGS holder with a price tag more than three times the sales price.

Crypto

That has been a dream coin of mine too, so rare and that one has claims to XF. Very choice minus the discount for strike

MrEureka

The only US coins I collected seriously (back in 1981-89) were 1877 pattern half dollars in silver, and I don't think that I let any of the more important ones slip away. Since then, I've only been hard core on Central American Republic, and this is the only one I couldn't reel in. Definitely the best I've seen, but I consider it overrated (in all grades) and therefore didn't want to stretch too far. Can't say I regret it, but I sure would like to land it one day.

oih82w8

Normally when one gets away, I don't hang on to the images...too painful.

The OP coin.

Estimate: 45,000.00 - 55,000.00 USD

Price Realized: 85,187.50 USD

Mizzou

And people claim collecting coins is not a good investment.

2dueces

Sorry you missed this one. I always say another will be along. Not always true but it makes me feel better. That and a bottle of Jack.

GoBust

I think it's pop 12 now when I last spoke with Dick Graham a few months back. I downgraded to buy the Horatio Morgan (Barry Broyd) example in PCGS XF40 from Stacks. My prior Pogue coin is now in solid hands within another high grade redbook set. I do not personally believe the MS63 exists. No such coin has ever been reported anywhere. FUn fact: The variety was discovered by New York area coin dealer, Maurice Rosen. I think a couple in collections might come up over the next two or three years. So I think you will get more chances relatively soon.

Crypto

I want the good 6

brianc1959

@GoBust said:
I think it's pop 12 now when I last spoke with Dick Graham a few months back. I downgraded to buy the Horatio Morgan (Barry Broyd) example in PCGS XF40 from Stacks. My prior Pogue coin is now in solid hands within another high grade redbook set. I do not personally believe the MS63 exists. No such coin has ever been reported anywhere. FUn fact: The variety was discovered by New York area coin dealer, Maurice Rosen. I think a couple in collections might come up over the next two or three years. So I think you will get more chances relatively soon.

I hope you're right!

TomB

Good luck in your quest. I have been having my own Don Quixotic moment attempting to find one in the wild!

brianc1959

@Crypto said:
I want the good 6

This is one of those coins where a Details graded sample might be perfectly OK.

brianc1959

@GoBust said:
I think it's pop 12 now when I last spoke with Dick Graham a few months back. I downgraded to buy the Horatio Morgan (Barry Broyd) example in PCGS XF40 from Stacks. My prior Pogue coin is now in solid hands within another high grade redbook set. I do not personally believe the MS63 exists. No such coin has ever been reported anywhere. FUn fact: The variety was discovered by New York area coin dealer, Maurice Rosen. I think a couple in collections might come up over the next two or three years. So I think you will get more chances relatively soon.

I was just reading the auction notes from the Stacks site on your coin. What a great sample - and in hindsight certainly a wise buy. Also of interest is a brief description of an unattributed sample sold on eBay - no doubt for a pittance!

DCW

Sometimes you've got to pay up or shut up for the rare stuff. It is a hard pill to swallow, though, when the pre-auction estimate is effectively doubled.
Good luck in the future

brianc1959

@DCW said:
Sometimes you've got to pay up or shut up for the rare stuff. It is a hard pill to swallow, though, when the pre-auction estimate is effectively doubled.
Good luck in the future

In this case it just felt as though I was bidding against someone with essentially infinite funds. And it turns out I was right. I generally agree with the shut up sentiment, although I thought this experience was interesting enough to share here.

DCW

@brianchi
It happens. I've experienced going up against someone with unlimited funds during the auction of the Pennsylvania Historical Society's Washingtonia tokens and medals. When things reach the point of 2 and 3 times what they're reasonable worth, it is time to put the paddle down.
The put up or shut up remark wasn't directed at you in a derogatory way at all, by the way. Just driving home the point that when something is so rare you only get a chance or two at picking it up throughout one's life, all price guides can be thrown out the window.
Comes down to just how badly someone wants to own it.
Thanks for sharing!

Boosibri

@MrEureka said:
The only US coins I collected seriously (back in 1981-89) were 1877 pattern half dollars in silver, and I don't think that I let any of the more important ones slip away. Since then, I've only been hard core on Central American Republic, and this is the only one I couldn't reel in. Definitely the best I've seen, but I consider it overrated (in all grades) and therefore didn't want to stretch too far. Can't say I regret it, but I sure would like to land it one day.

wow....Over rated for sure but still iconic

brianc1959

@DCW said:
@brianchi
It happens. I've experienced going up against someone with unlimited funds during the auction of the Pennsylvania Historical Society's Washingtonia tokens and medals. When things reach the point of 2 and 3 times what they're reasonable worth, it is time to put the paddle down.
The put up or shut up remark wasn't directed at you in a derogatory way at all, by the way. Just driving home the point that when something is so rare you only get a chance or two at picking it up throughout one's life, all price guides can be thrown out the window.
Comes down to just how badly someone wants to own it.
Thanks for sharing!

Good points. Sorry if my thin skin was showing!