Bob Simpson Collection is realizing huge prices!
DCW
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Yes, we knew it would! But...$110 million and counting? And I have to believe he is hanging onto some of his favorites, right?
Anybody purchase from one of these historic auctions and want to post their pickups?
Dead Cat Waltz Exonumia
"Coin collecting for outcasts..."
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I am not sure I understand the current situation with the Simpson sales. Originally, he was planning to liquid 50% in value of his collection in two or three sales. It appears he is going beyond that now. He is selling a lot of the gold that I thought he said in his video that he was keeping. Has his liquidation plans change? Have there been any official communications? just curious that I miss a communication.
My 20th Century Gold Major Design Type Set ---started : 11/17/1997 ---- completed : 1/21/2004
It is a good time to sell good stuff. Might be winding down even but still near historic highs in price AND competition
11.5$ Southern Dollars, The little “Big Easy” set
Can't help the feeling that the getting out is going on when the gettin' is good (witnessing all of these big collections being sold).
"Got a flaming heart, can't get my fill"
Bender also, some of these I remember seeing in 2012 Philly sale and gardner, only to be catapulted higher again this go around. unbelievable. A coin or two i couldnt swing back then, still cant , went for double since last time around
Going through my own liquidation of sorts right now, I can tell you once you make a few hard choices and let some nice stuff go, it becomes a lot easier to let more stuff go. It really helps put into focus what you really enjoy and care about. Perhaps Mr S had a moment of clarity as the dust settled and decided to push onward.
"It's like God, Family, Country, except Sticker, Plastic, Coin."
It does seem like a very good time to sell!
Also seems like a changing of the guard.
I am seeing a trend over the last year or so.... Large collections selling.. and selling for high dollars.... Seems to be a purge going on when the opportunity is ripe. Cheers, RickO
Agreed.
The other thing I’m noticing is that named collections are selling and seem to be replaced by anonymous colllections.
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The collector that has the 1933 $20 name Elite Collection is starting something very special.
My 20th Century Gold Major Design Type Set ---started : 11/17/1997 ---- completed : 1/21/2004
What else is in the collection?
Link for the Elite Collection. Unfortunately, the sets are closed, but GPAs are amazing.
https://www.pcgs.com/setregistry/elite-collection/othersets/549
My 20th Century Gold Major Design Type Set ---started : 11/17/1997 ---- completed : 1/21/2004
Here is the page for the set but it is locked. Recently upgraded from Simpson auction (maybe the dealer on the left and 423 - ha I watched the auction and that one bought several but don't know anything factual).
Also a link to cac forum and his posting about set.
https://www.pcgs.com/setregistry/gold/20-gold-major-sets/st-gaudens-20-gold-basic-set-circulation-strikes-1907-1932/3050
https://www.caccoin.com/forums/discussion/367/first-complete-st-gaudens-20-cac-set
https://youtube.com/watch?v=wwmUMvhy-lY - Pink Me And Bobby McGee
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https://youtube.com/watch?v=D0FPxuQv2ns - Ruby Starr (from 'Go Jim Dandy') Maybe I'm Amazed
RLJ 1958 - 2023
Thanks Currin. I will open up my Saints set soon. There are still a few coins I want to get before making my sets public.
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And buy what with the proceeds ? Inflation is still ongoing and rather strong. While cash is king, it is declining in value.
Right; if you need the cash and/or you are tired of collecting, sell away. Me, I like coins and don’t care if I’m missing a peak selling time.
Similar quandary to the housing bubble we just had. Comparable houses in my neighborhood were selling for >$600k this spring. But then what? Take half the proceeds and move back to the Midwest, with dreary winters, no pool, no ocean close by, but more money in the bank? No thanks.
Gardner stuff wasn't doing anything before covid.
__> @fathom said:
Mr. Gardner’s coins were hardly “stuff”.
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
It sat around at dormant valuation, or falling, stuff is being generous.
How does it compare to your awesomeness?
Great to hear!
Price movements and direction don’t determine or change the quality or significance of coins. I’m surprised that anyone who knows coins would speak of that collection in such a disrespectful manner.
For those of you who aren’t familiar with Mr. Gardner’s collection, here’s a listing of the coins:
https://www.ha.com/information/eugene-h-gardner-collection-of-rare-coins-complete-coin-list.s
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
I personally thought Gardner had some great coins, and a lot of incredible pieces and rarities.
Yes you are correct, I was being too harsh. Some of it was over-graded as it was a fabulous collection. I bought a few. Still have two, sold one at a loss.
Sour grapes perhaps.
There’s no denying that, which is why the posts by @fathom shocked me.
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
@dhikewhitney said: And buy what with the proceeds ? Inflation is still ongoing and rather strong. While cash is king, it is declining in value.
It doesn't seem reasonable to consider inflation affecting the prices of coins the way you'd think of it in terms of stuff like groceries. The market for coins seems to act independent of the general economy. What's driving things now and in the past couple of years is the COVID hangover coupled with people being flush with money. They seem both able and willing to spend.
I think his point was that the dollars obtained through the sale of the coins will be devalued, because they won’t buy as much as they would in non-inflationary times. So why sell, just because prices are higher?
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
It's a good point and my thought is to take advantage of the market upswing to move the funds into other areas with greater appreciation potential.
I have no idea why Mr. Simpson is selling his collection or what he might be doing with the proceeds. To build something like that takes two things: money and brains. I would believe Mr. Simpson is smarter than all of us here, so I'll trust his judgement and timing while accepting he didn't concern himself with the current or upcoming inflation rate.
I can believe that losses materialized on some of the coins. Most of this has to do with the sale venue itself, many times these big well known sales generate so much publicity and over bidding intrest on lots as a whole, that if the coins were to be re-consigned at a later point on there own they won't bring near the same money, Happens all the time , some of the prices from the first fairmont were darn near insane. Lot of great coins, but take a few examples that did very well, and run them again individually or in another sale, and wham, you'd take a hit. This past simpson and bender sale would be the same way. One of my customers bought one of the few finest known $10 Libs from that saddle ridge hoard years ago, and it was nice, (one of the nicest tens youll ever see) but he can't find an offer for much more than 60% of what he paid when he bought it becuase of all the hype when the sale came out. Unsuccessful tries twice in auction just trying to recoup close to what he paid. Same as above.
Actually, Laura kind of touched on this in a round about way in her last report.
In the end everything is "just stuff" and you can't take it with you.
Well, I guess you could as I buried a coin with my GrandFather when he died,,,,,,
Simpson said in the Heritage video something like priorities change, he wanted to focus more on experiences than objects, and he wanted other people to enjoy his coins. I was convinced. I put 95% of my coin value up for auction, but then another on of my collecting buddies was also convinced so I bought his collection and at that point I had to buy back most of what I consigned and the vicious circle continues. I have problems.
Nothing wrong with that. He's accomplished quite a bit in coins. And who knows, he may come back after some time.