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Quality rules...

If there were any need to demonstrate how this coin market values high quality, I would offer the following:

Last night, a 1917-F aluminum 1 pfennig coin from Germany in PCGS 67 (a pop top) - a coin valued in the German Jaeger catalog at 10 euros in stempelglanz and in my somewhat older Krause at $12 in MS 63 - sold for $330. Here's the coin:

Congratulations to the winner!

Comments

  • bidaskbidask Posts: 13,134 ✭✭✭✭✭

    Wowee

    Sold where ?

    I manage money. I earn money. I save money .
    I give away money. I collect money.
    I don’t love money . I do love the Lord God.




  • U1chicagoU1chicago Posts: 4,021 ✭✭✭✭✭

    @bidask said:
    Wowee

    Sold where ?

    On eBay?
    https://www.ebay.com/itm/204055014305

  • neildrobertsonneildrobertson Posts: 935 ✭✭✭✭✭
    edited August 4, 2022 8:53AM

    As you might be able to imagine, I was watching that auction. I watch most high grade German minor coins. I personally bid on the coin because that would have been better than my current type piece. I bid $160, which was still double what I would expect an MS66 to sell for. This particular 67 isn't an exemplary example (for a hypothetical 67). There is some haze from oxidation near the 1. There is orange peel/surface roughness from die wear. However, it is in a great state of preservation and the strike is good and centered.

    There have been a couple examples of the high grade German coins going for unexpectedly high prices on ebay the past few years. From what I can gather, this is expecially so on top pop pieces. The market tends to sell anywhere from 1-2 coins at this high level before prices drop substantially (possibly 3). So when I see a coin like that hit the market, I do my own estimate of whether I think more than 1-2 coins in that grade will hit the market/exist. If so, I usually try to ride out the bidding craziness. I'm still in my 30s so I can play the numbers and assume time is on my side.

    1 pfennig aluminum coins tend to be lower value coins. I've purchased a handful of MS64-65 pieces in the $10 price range. The best of those has remained my type piece. My understanding is that there are still original rolls of these coins out there waiting to be sold. I haven't actually tried to get any (and probably still won't). I would expect most roll coins to be MS64-66 , but I'm fairly confident that there are MS67s out there. There just hasn't, up until last night, been a clear financial incentive for them to float out into the markets and be sought out by dealers/collectors.

    To extrapolate on that thought, I'd caution anyone to go big for top pop coins without really having their own understanding of what quality is for a given series. The PCGS world population report is expanding every year, and many many coins that were top pops 5-10 years ago aren't top pops anymore. And I guarantee you that those coins received a top pop premium when they sold 5-10 years ago. (This is kind of an extension of the buy the coin not the slab mantra)

    All that being said. This is still an exceptional coin and a great piece for a type set.

  • worldcoinguyworldcoinguy Posts: 2,958 ✭✭✭✭

    I bought from the seller in the past and was quite happy. I was tracking this little german states beauty but did not walk away with it.
    https://ebay.com/itm/204055021043

  • MasonGMasonG Posts: 4,785 ✭✭✭✭✭

    It would be an interesting experiment to crack the coin out and list it for auction again raw, with comparable pictures, in order to see how the market values the coin vs. the plastic.

  • lordmarcovanlordmarcovan Posts: 42,358 ✭✭✭✭✭
    edited August 5, 2022 11:18PM

    @MasonG said:
    It would be an interesting experiment to crack the coin out and list it for auction again raw, with comparable pictures, in order to see how the market values the coin vs. the plastic.

    It would, but I don't know anyone who'd want to do it with their money on the line.

  • lavalava Posts: 3,311 ✭✭✭

    It might also be interesting to crack it out and resubmit it to see if even PCGS would give it the same grade, but as LordM says, who wants to pay for that?

    I brake for ear bars.
  • MasonGMasonG Posts: 4,785 ✭✭✭✭✭

    I was looking at eBay to get an idea about what these coins are listed and selling for. The one below is for sale at $8.95, after viewing it, I received an offer from the seller of $7. The images may not be the greatest, but here's my question- if you had the option to buy the coin in the first post for $330 or the one pictured below for $7, which would you choose?

    I'd choose the seven dollar coin, but that's just me.

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