Ouch
keyman64
Posts: 15,507 ✭✭✭✭✭
I have no affiliation with this coin. I just happened to watch it both times.
I was an underbidder the first time but not a significant underbidder.
I decided not to bid the second time.
July 31, 2022 $2,694.38
https://www.greatcollections.com/Coin/1177632/1938-D-Mercury-Dime-PCGS-MS-67-FB-Toned
December 4, 2022 $388.12
https://www.greatcollections.com/Coin/1270400/1938-D-Mercury-Dime-PCGS-MS-67-FB-Toned
"If it's not fun, it's not worth it." - KeyMan64
Looking for Top Pop Mercury Dime Varieties & High Grade Mercury Dime Toners.
Looking for Top Pop Mercury Dime Varieties & High Grade Mercury Dime Toners.
9
Comments
Ooooof, my sinerest condolences to the consignor
Founder- Peak Rarities
Website
Instagram
Facebook
A market that is decided in such a way that when one person refrains from bidding the results are as you've shown is a scary game to play.
I know, because I swim in that pool all the time. 😆
But, this is probably only an outlier considering the popularity of most U.S. coins.
I would hate to be the consignor right now.
Dead Cat Waltz Exonumia
"Coin collecting for outcasts..."
I did something similar with some error coins.
Wasn't near the haircut, but it was humbling.
BST: KindaNewish (3/21/21), WQuarterFreddie (3/30/21), Meltdown (4/6/21), DBSTrader2 (5/5/21) AKA- unclemonkey on Blow Out
I feel much better about my $180 coin that realized $38. Flipping coins on GC is a game I won't play again!
That TV pic you posted doesn't look anything like the GC photos.
"Got a flaming heart, can't get my fill"
and don't forget how much they are taking out from the buyer and seller for each time the coin goes through the sale
If you're trusting TVs to be accurate (except in the most advantageous lighting and viewing angle), you're eventually going to get burned.
Not me Mason. I'm not a fan of their inconsistent photos.
"Got a flaming heart, can't get my fill"
You're not kidding!
In honor of the memory of Cpl. Michael E. Thompson
Wow!
On occasion, I hunt for old friends on ebay that I have flipped.
It was a common proof but gorgeous color.
Saw something similar happening, and PM'd the owner to download the TV since his pics were killing his chance of selling the coin.
It is one of the first things I do when listing a coin. Check for a TV
BST: KindaNewish (3/21/21), WQuarterFreddie (3/30/21), Meltdown (4/6/21), DBSTrader2 (5/5/21) AKA- unclemonkey on Blow Out
Disaster narrowly averted.
They're not taking anything from the buyer unless he's silly enough to not account for fees.
Wow. Scary.
Can someone help me out understanding that first bid, PCGS pricing has $450-800 for MS67FB, what caused this one to get bid to $2700 the first time? Did someone (well, 2+ people) just really like the toning?
Well GC is fairly modest with the buyers premiums (10%) and the listing fees are from 3-10$. It is mind boggling when you consider that the seller of the coin only netted a little bit more than the original buyers premium he paid
Founder- Peak Rarities
Website
Instagram
Facebook
I wouldn’t have paid either amount. But good luck to those that play in those amounts.
My current registry sets:
20th Century Type Set
Virtual DANSCO 7070
Slabbed IHC set - Missing the Anacs Slabbed coins
There are times I'm happy my collecting focus is on world coins, mostly raw ones. This is one of those times.
i WAS going to pic on GC's images but they sure didn't stop it from selling for $3k+ the other time.
i do recall some official commentary from Ian (on this forum) about the great debate of pcgs TV's and customer responses over time and GC chose to listen to the bulk of the customers.
there should be a lot more of these results in the coming 6-24 months (if consignors don't protect their downside). it all goes up, it all goes down, back up again and down it comes. real estate, coins, stocks, inflation, interest rates, bullion, crime, etc.
$300+ seems low no matter what though as that is a pretty merc in a pre-40 date FB high-grade. not much more one can ask for there, except a sticker?
the first time it started at $150, the second $1. makes ya wonder if the original purchaser was actually the one to consign it.
just scanned the barcode and it sold for less than guide. aside from the toning, there are hundreds in this grade and coming up on 100 more higher.
Well, the second result is a bit too low but the first sale was a gift to the first consignor. Lack of a sticker can be the kiss of death when big toning premiums are expected.
Looks like an rpm-001 D/D from the pics. Shame to see the end result for the consignor. It shows what can happen(at least in the first auction) when their are multiple bidders who really want the coin. Especially since their were so many already graded by PCGS in that grade. It happens to great coins as well as average coins in an auction. keyman, you must have been just enough of an underbidder to drive these bidders into a frenzy. lol
Jim
When a man who is honestly mistaken hears the truth, he will either quit being mistaken or cease to be honest....Abraham Lincoln
Patriotism is supporting your country all the time, and your government when it deserves it.....Mark Twain
Yikes!!
You picked the wrong time nor to bid. 😀
- Bob -
MPL's - Lincolns of Color
Central Valley Roosevelts
We also don't know if the first sale was actually completed. The high bidder might not have paid or returned the coin (I've seen a few people on Instagram comment that they return coins from GC when "overpaying").
Still it is a huge difference; both the top bidder and underbidder look to have sat out the auction this time around (top bidder was at 2,395; 2nd bidder was at 2,345; 3rd was at 2,200 and then a big drop off with the 4th at $420).
I wonder if the first buyer ran it through PCGS looking for a 68?
GC allows returns for auction wins see below. I bet irrational exuberance occurred first time at auction, buyer returned, and it was put up again, so 1rst buyer did not lose out as a consignor 2nd time....................
"12. Return Policy. On all non-bullion items, GreatCollections offers a generous return policy (unless otherwise marked on the item information page) as a courtesy to Buyers, providing the item is paid for within seven days of the auction date (or in the case of a Buy Now item, when you confirmed to purchase the item) and no request to delay shipment is made by Buyer. Certified coins/banknotes must be in the original sealed grading service holders. To return an item, the Buyer must notify GreatCollections within 24 hours of receipt and receive a return confirmation number. Please mail the coin or banknote via Insured Mail to GreatCollections within 72 hours of receipt of coin. Original and return shipping costs are not refunded. Returns will not be accepted without the return confirmation number. Registered bidders are allowed one free return each month. For more than one return in a calendar month, a 5% fee will apply, based on the total purchase price of the item. Clients found to be abusing our return policy will be notified in writing that they will no longer have any return policy privileges whatsoever. If you viewed the item prior to winning the auction or offered the coin for sale to any dealer, collector and/or marketplace, there is no return privilege. "
Best, SH
The pictures HAVE to be accurate. If they were not the consignor should scream at GC.
I had this one in my watch list and was going to bid but I ended up buying another coin earlier in the week so I decided to pass. I really like the color on it at least as pictured. Never had issue with GC pictures myself. Very pretty dime, congrats to whoever won it.
The first sale's Bid History is interesting...
Successful BST transactions with forum members thebigeng, SPalladino, Zoidmeister, coin22lover, coinsarefun, jwitten, CommemKing.
Hmm, could be more to this situation than meets the eye.
Every auction house has their strengths and weaknesses.
I'm not super surprised by the result. The first auction may have happened due to a confluence of bidders that didn't happen the second time around. This is a common occurrence in auctions generally, however, two things could have helped replicate the first auction the second time around:
These are business decisions which are fine. People just need to know what they are getting when they consign.
It's a beautiful coin.
Not a monster toner, but subtle...
I think the $2K price might have created a stigma.
BST: KindaNewish (3/21/21), WQuarterFreddie (3/30/21), Meltdown (4/6/21), DBSTrader2 (5/5/21) AKA- unclemonkey on Blow Out
Wow.... If the seller of the second auction, was the winner of the first auction, that is disastrous.... Cheers, RickO
But if they were to highight prior sales of the general type, the results would all be significantly LOWER than the $2000+. And if they highlighted the $2000+ exact coin, bidders are going to wonder why it is back up for auction so quickly.
Regarding showing past prices for the actual coin, there’s been a recent discussion on such a piece here, sold for strong prices 5 times in the past 3 years.
Glamour shots may get people over the recentness of the sales.
Anything can happen at auction!
"It's like God, Family, Country, except Sticker, Plastic, Coin."
.
i've seen a LOT of that on ebay, where a big bidder comes along out of nowhere and takes the hammer. took me a couple missed items in situations like that before i adjusted my bidding a bit for items i really wanted.
."It's a dangerous business... going out your door. You step onto the road, and if you don't keep your feet, there's no knowing where you might be swept off to" -JRR Tolkien_________________________________________________________________________________________________________________________________________Outstanding BST transactions as a seller, buyer and trader with: ----- mustanggt, Kliao, claudewill87, MWallace, paesan, mpbuck82, moursund, basetsb, lordmarcovan, JWP, Coin hunter 4, COINS MAKE CENTS, PerryHall, Aspie_Rocco, Braddick, DBSTrader2, SanctionII, Histman, The_Dinosaur_Man, jesbroken, CentSearcher ------ANA Member #3214817
I also am not a fan of GC's photography and feel that it underrepresents a coin's appearance at times. However, in this instance, the photographs were identical.
Tom
Agree the photos are the same but the participants in the auction are different. Just because the photos were able to get a critical mass of buyers one time doesn’t mean better photos wouldn’t help another time.
Well, now I'm confused. The photo Jon posted shows color in much greater detail than that of Great Collections photo's. Which is accurate to the naked eye?
Depending upon the type of lighting used, they may both be accurate to the naked eye.
In honor of the memory of Cpl. Michael E. Thompson
Weird deal. I hope it was the owner who bought it back at least.
All it takes is a couple or three toning fanatics to run things up. Anyone remember the $69,000 Oregon Trail toner?
Edit to add- It's weird that it went back on the market so quickly. Maybe auction fever the first time and then couldn't afford to keep it...?
RIP Mom- 1932-2012
Very nice coin in all photos. Looks well worth the second result based on like auction history. Last year GC sold a very nice generic 66 buff for me at 8X list. Had a green sticker in a rattler holder. I didn't even bother to look at the result until the next day. I was shocked, pleasantly so. It was very nice, handpicked raw by me many yeas ago, but no clue what the bidders saw.
Is there any chance the first sale never went through? The GC photos in the two listings are identical (as in, the same photo, not just they look really similar). At least when I'm handling a consignment, if I get a coin consigned a second time, it gets a new photo, even if just because it's easier to process that way than to go dig up the old file. Maybe the sale didn't go through, the coin went to CAC, and then it was relisted... that could explain the delay between relisting.
...or the second consignor lost big.
I'm going to go out on a limb and say we won't be seeing this in the relentless GC "Look how much more than what it's worth we sold this for" propaganda!
Hey now, I don't think its fair to pick on GC for their marketing strategies, which may include different forms of self promotion. Most, if not all, auction venues use similar marketing to generate interest in the brand and its offerings. Many forum members here, including myself, maintain the belief that GreatCollections is a welcomed asset to the hobby.
Edit: grammar
Founder- Peak Rarities
Website
Instagram
Facebook
True, and that may be particularly so for GC photos. It's often not true for Trueviews where the color, contrast, and light levels may be deliberately enhanced by editing software. In some cases, the Trueviews are so juiced that I could never use them as seller's photos without substantial editing.