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A bittersweet ending to the most fascinating auction i've ever attended. (lots of pics)

PeakRaritiesPeakRarities Posts: 3,700 ✭✭✭✭✭
edited June 9, 2024 5:34PM in U.S. Coin Forum

My first post about this was rushed and unrefined, here's the more nuanced and better written version-

https://www.peakrarities.com/post/the-most-fascinating-americana-aution-i-ve-ever-attended-and-the-one-that-got-away

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  • mattnissmattniss Posts: 705 ✭✭✭✭

    What an awesome auction to participate in, and an even better story to go with it. Thanks for sharing DD. Insane coins, though honestly I'm so intrigued by the autographs book. Already from the pictures you shared there's several home runs in there, truly incredible. Also, way to make 'em pay. B)

  • TheGoonies1985TheGoonies1985 Posts: 5,492 ✭✭✭✭✭
    edited June 8, 2024 1:38PM

    If you don't mind me asking how much did it end up selling for Dan?

  • knovak1976knovak1976 Posts: 402 ✭✭✭✭

    Really cool stuff Dan. Thanks for sharing! I am always looking at autographs on eBay…and found a guy in Hollywood, CA, who was selling his collection. Many he couldn’t decipher whose they were….so he offered the anyone a good deal if they could figure any out. He sold me one that I was able to correctly identify…..I did some research and she was known as the world’s wealthiest actress in her time…..but the COOL thing about this woman was she was apparently John Wilkes Booth’s girlfriend! 🤔😉

  • braddickbraddick Posts: 24,003 ✭✭✭✭✭

    A terrific thread and a tremendous read. Thanks for sharing.
    One caveat, I am not sure how other collectors feel necessarily about being photographed and their images shared on a public forum.
    I am probably wrong though, and it is alright by everyone, I suppose.

    peacockcoins

  • ashelandasheland Posts: 23,190 ✭✭✭✭✭

    How cool! I really enjoyed reading this thread. I could see why you were so excited those coins are exceptional!

  • PeakRaritiesPeakRarities Posts: 3,700 ✭✭✭✭✭

    @braddick said:
    A terrific thread and a tremendous read. Thanks for sharing.
    One caveat, I am not sure how other collectors feel necessarily about being photographed and their images shared on a public forum.
    I am probably wrong though, and it is alright by everyone, I suppose.

    For good measure, I’ve redacted them. Thanks!

    Founder- Peak Rarities
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  • MarkKelleyMarkKelley Posts: 1,878 ✭✭✭✭✭

    What a great read, I really enjoyed it!

  • HillbillyCollectorHillbillyCollector Posts: 610 ✭✭✭✭✭

    Man, great auction and story to go with it!
    Those books you were able to get look fantastic! Congrats, big time!👍
    >
    Give us the final price on the slug?
    Also, were you able to land any of the other coins?
    >

  • gonzergonzer Posts: 3,026 ✭✭✭✭✭

    Dan, thanks for sharing this. Deciphering all the auto's is going to be one heck of an endeavor. Owning the dictionaries should take some of the sting out of the $50 slug showing.

  • EastonCollectionEastonCollection Posts: 1,392 ✭✭✭✭✭

    Great experience - I have shared similar stories as well at some smaller auctions and got smoked by several dealers bidding by phone. I learned the best approach is to hire a dealer to bid for me at the auction or by phone. That way, they won't bid against me.

    Easton Collection
  • pointfivezeropointfivezero Posts: 1,825 ✭✭✭✭✭

    Thanks for the great story, Dan. I’m on a cross country flight and this thrilling read and look got me through a part of it.

    Tim

  • HillbillyCollectorHillbillyCollector Posts: 610 ✭✭✭✭✭
    edited June 8, 2024 3:30PM

    @EastonCollection said:
    Great experience - I have shared similar stories as well at some smaller auctions and got smoked by several dealers bidding by phone. I learned the best approach is to hire a dealer to bid for me at the auction or by phone. That way, they won't bid against me.

    >
    I’ve went both ways.
    Any dealer is going to want around 5% of hammer. Also, in the past I had a dealer go almost 25% above what we had agreed was the upper limit. Thankfully it kept going and I guess he thought I might not take it so he stopped. That was probably smart thinking on his part!😂
    That coin sold about 6k over PCGS Price Guide.
    >
    Now, if I’m sure I want the coin, I’ll go head to head with the dealer. I might not get the coin, but at least I know there’s no ‘angle’ being worked on me.👍

  • TrickleChargeTrickleCharge Posts: 174 ✭✭✭

    Great post and read! You may not have made out on the coins, but regardless it sounds like a great experience that you won't soon forget. Sometimes that's worth more than winning. Thank you for sharing.

  • logger7logger7 Posts: 8,522 ✭✭✭✭✭

    I'll look forward to Legend's write-up on their scores.

  • Jacques_LoungecoqueJacques_Loungecoque Posts: 733 ✭✭✭✭✭

    I’ve always wanted to infiltrate one of these high dollar auctions. Thanks for letting me live vicariously through you, Dan. That slug tho….. no words….

    Having fun while switching things up and focusing on a next level PCGS slabbed 1950+ type set, while still looking for great examples for the 7070.

  • PeakRaritiesPeakRarities Posts: 3,700 ✭✭✭✭✭

    @Jacques_Loungecoque said:
    I’ve always wanted to infiltrate one of these high dollar auctions. Thanks for letting me live vicariously through you, Dan. That slug tho….. no words….

    https://player.vimeo.com/video/955345081

    Founder- Peak Rarities
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  • LakesammmanLakesammman Posts: 17,385 ✭✭✭✭✭

    Wow - that would have been a blast to attend! Thanks for the report and pics. :+1:

    "My friends who see my collection sometimes ask what something costs. I tell them and they are in awe at my stupidity." (Baccaruda, 12/03).I find it hard to believe that he (Trump) rushed to some hotel to meet girls of loose morals, although ours are undoubtedly the best in the world. (Putin 1/17) Gone but not forgotten. IGWT, Speedy, Bear, BigE, HokieFore, John Burns, Russ, TahoeDale, Dahlonega, Astrorat, Stewart Blay, Oldhoopster, Broadstruck, Ricko, Big Moose.
  • WCCWCC Posts: 2,578 ✭✭✭✭✭

    I've heard of these auctions. Curious to know whether these coins were graded for the sale or (much) earlier. It would be an anecdote that there is (a lot) more out there ungraded than most probably believe.

  • TheGoonies1985TheGoonies1985 Posts: 5,492 ✭✭✭✭✭
    edited June 8, 2024 4:32PM

    So much for the PCGS price guide at 300k based on that article.

  • PeakRaritiesPeakRarities Posts: 3,700 ✭✭✭✭✭
    edited June 8, 2024 4:39PM

    @PillarDollarCollector said:
    So much for the PCGS price guide at 300k based on that article.

    One caveat. This was not just any old slug in 63. I would not pay near that amount for a different 63 slug you see in CoinFacts. This one is in the top handful of coins grade wise, AND it has the most original surfaces with undisturbed mint frost and gorgeous toning. Coins like this have appeal that supersedes the grade, similar to my clark gruber $5 that I bought recently.

    IMO the story behind this slug is priceless. If I had an 8 figure net worth, I would have paid whatever it took to buy this coin and I would have worried about the finances later.

    If the new owner is reading, I congratulate him/her on an astounding acquisition and I completely understand why they paid what they paid. Like @Jacques_Loungecoque said, there really are “no words” for a coin like this.

    Founder- Peak Rarities
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  • TheGoonies1985TheGoonies1985 Posts: 5,492 ✭✭✭✭✭
    edited June 8, 2024 4:43PM

    Sorry Dan I simply meant PCGS was thinking this coin was valued way to low. Did not mean to say the buyer over paid. He paid what the market truly is in 2024. I guess PCGS had no way of truly knowing its value until it sold at auction.

  • JimTylerJimTyler Posts: 3,400 ✭✭✭✭✭

    That’s what it’s all about

  • CatbertCatbert Posts: 7,167 ✭✭✭✭✭

    Great post, DD. Love reading about your experience now that you're officially in the dealer swimming pool..Sure hope your travel expenses are a business write off!

    Seated Half Society member #38
    "Got a flaming heart, can't get my fill"
  • PeakRaritiesPeakRarities Posts: 3,700 ✭✭✭✭✭

    @PillarDollarCollector said:
    Sorry Dan I simply meant PCGS was thinking this coin was valued way to low. Did not mean to say the buyer over paid. He paid what the market truly is in 2024. I guess PCGS had no way of truly knowing its value until it sold at auction.

    Correct, the price guides are just arbitrary numbers they throw out there but they mean nothing at the upper end when a coin like this shows up on the scene.

    What I’m saying though, the price guide is probably reasonable for a typical 63 or 63+ slug, but this one was a 63++* and if you gave me a choice between the 64cac and this coin, I’d probably take this one.

    Founder- Peak Rarities
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  • SethChandlerSethChandler Posts: 1,705 ✭✭✭✭

    Now THAT was a great story. Thank you, Dan.

    Seth

    Collecting since 1976.
  • breakdownbreakdown Posts: 2,131 ✭✭✭✭✭

    Great stuff, Dan. Sorry you didn't win any coins. Also goes to show that finding "bargains" in an auction in this internet age is close to impossible.
    But sounds like you had a great experience anyway.

    "Look up, old boy, and see what you get." -William Bonney.

  • IkesTIkesT Posts: 3,143 ✭✭✭✭✭

    @DeplorableDan said:

    @braddick said:
    A terrific thread and a tremendous read. Thanks for sharing.
    One caveat, I am not sure how other collectors feel necessarily about being photographed and their images shared on a public forum.
    I am probably wrong though, and it is alright by everyone, I suppose.

    For good measure, I’ve redacted them. Thanks!

    Just put black bars over their eyes. ;)

  • SmudgeSmudge Posts: 9,525 ✭✭✭✭✭

    Lots of history in that auction.

  • usararecoinsusararecoins Posts: 20 ✭✭✭

    Excellent report and experience. Really enjoyed reading this.

  • FlyingAlFlyingAl Posts: 3,222 ✭✭✭✭✭

    Man, what a thriller!

    I must say - I usually look at slugs and see some pretty reflective looking surfaces from wear or just being messed with. This one made me sit up in my chair and pay attention - it really does have some absolutely incredible surfaces. Sorry you didn't get it!

    Coin Photographer.

  • Manifest_DestinyManifest_Destiny Posts: 6,896 ✭✭✭✭✭

    Wow, what a treasure trove! Great write up too!

  • pursuitoflibertypursuitofliberty Posts: 6,930 ✭✭✭✭✭

    Nice write up Dan ... sounds like a heck of a ride!!


    “We are only their care-takers,” he posed, “if we take good care of them, then centuries from now they may still be here … ”

    Todd - BHNC #242
  • alaura22alaura22 Posts: 3,193 ✭✭✭✭✭

    Great read Dan, thank you
    Some great coins there, sorry you couldn't catch a few of them

  • BLUEJAYWAYBLUEJAYWAY Posts: 9,159 ✭✭✭✭✭

    Enjoyed the read. Thanks for your time in posting.

    Successful transactions:Tookybandit. "Everyone is equal, some are more equal than others".
  • GoldFinger1969GoldFinger1969 Posts: 1,787 ✭✭✭✭✭
    edited June 8, 2024 11:55PM

    Thanks for sharing this, Dan. :)

    Apparently there are lots of these "off the beaten tracks" auctions, estate sales, liquidations, etc. especially away from the coasts of the U.S. I've been told rural parts of the country are where lots of these hidden gems are, PA included.

    A few years ago (pre-Covid I think) I remember seeing a pair of MCMVII HR's at a local NY-NJ coin show. Both were MS-63 and higher and were kept in some barn in North Dakota or somewhere like that. Not sure if they just got graded recently to be sold or if they had been graded decades/years ago and then just changed hands.

    I've been doing some free-time research on gold in the 1920's and 1930's and the amount of new research on the amount of European/French hoarding of gold during that time is astounding. It makes it possible/plausible that there are still vast numbers of rare gold coins including Double Eagles in SDBs, banks, and even in rural farmhouses throughout the continent. Maybe not in the actual numbers that we saw in the decades following WW II, but large relative to our existing known quantities. I believe the MCMVII HR supply/hoard from about 5 years ago originated in Europe.

  • Namvet69Namvet69 Posts: 8,975 ✭✭✭✭✭

    Congrats. I live I New Hope, which is very close to Browns. I was on the phone with an attendee, who enjoyed the auction. That autograph scrapbook is spectacular. So much to appreciate. Have a good day. Peace Roy

    BST: endeavor1967, synchr, kliao, Outhaul, Donttellthewife, U1Chicago, ajaan, mCarney1173, SurfinHi, MWallace, Sandman70gt, mustanggt, Pittstate03, Lazybones, Walkerguy21D, coinandcurrency242 , thebigeng, Collectorcoins, JimTyler, USMarine6, Elkevvo, Coll3ctor, Yorkshireman, CUKevin, ranshdow, CoinHunter4, bennybravo, Centsearcher, braddick, Windycity, ZoidMeister, mirabela, JJM, RichURich, Bullsitter, jmski52, LukeMarshall, coinsarefun, MichaelDixon, NickPatton, ProfLiz, Twobitcollector,Jesbroken oih82w8, DCW

  • KliaoKliao Posts: 5,561 ✭✭✭✭✭

    Wow great story. I'm sure it was great fun just looking at those coins. At least you didn't go home empty handed. That slug has great surfaces and can see why it went for that kind of money. Thanks for sharing.

    Collector
    75 Positive BST transactions buying and selling with 45 members and counting!
    instagram.com/klnumismatics

  • PeakRaritiesPeakRarities Posts: 3,700 ✭✭✭✭✭

    @MFeld said:
    @DeplorableDan, after reading this thread and thinking about many of your other posts, I have an unsolicited suggestion for you.

    I think you have a very special way of writing and story telling, that pulls readers in.
    My suggestion is that you occasionally include some of your numismatic reports and experiences (such as this one) in a column on your website.

    Great suggestion Mark, but I’m one step ahead of you 😉. I haven’t posted this story to the blog yet but I will when I get home.

    https://www.peakrarities.com/blog

    Founder- Peak Rarities
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  • bsshog40bsshog40 Posts: 3,902 ✭✭✭✭✭

    Wow, all I can add is it must have been an "edge of the seat" auction. Good read!

  • MFeldMFeld Posts: 13,515 ✭✭✭✭✭

    @DeplorableDan said:

    @MFeld said:
    @DeplorableDan, after reading this thread and thinking about many of your other posts, I have an unsolicited suggestion for you.

    I think you have a very special way of writing and story telling, that pulls readers in.
    My suggestion is that you occasionally include some of your numismatic reports and experiences (such as this one) in a column on your website.

    Great suggestion Mark, but I’m one step ahead of you 😉. I haven’t posted this story to the blog yet but I will when I get home.

    https://www.peakrarities.com/blog

    Dan, if you’re only one step ahead of me, I feel like I’m doing great.😀

    Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.

  • seatedlib3991seatedlib3991 Posts: 720 ✭✭✭✭✭

    Quite an experience. I think I would have needed one of those asthma inhalers to get through it and i don't even have asthma. thanks for story. James

  • jedmjedm Posts: 3,024 ✭✭✭✭✭

    This has been a great read for a Sunday morning over coffee. Thanks Dan!

  • BillJonesBillJones Posts: 33,987 ✭✭✭✭✭
    edited June 9, 2024 6:56AM

    I have looked to buy a $50 for a number of years, but the grading is a problem. These coins were heavy and soft. Edge marks are big problem. I saw one over ten years ago for which the grade and price lined up for me, but I couldn't buy it. I had just purchased the 1796 No Stars Quarter Eagle that is in my collection, and I just didn't have the cash available.

    I would never buy anything as lofty as an MS-63. A really nice AU would work for me.

    One collector told me I should have bought an original California gold slug many years ago when I purchased the Pan-Pac $50 gold pieces I have. He may have been right.

    Retired dealer and avid collector of U.S. type coins, 19th century presidential campaign medalets and selected medals. In recent years I have been working on a set of British coins - at least one coin from each king or queen who issued pieces that are collectible. I am also collecting at least one coin for each Roman emperor from Julius Caesar to ... ?
  • lermishlermish Posts: 2,921 ✭✭✭✭✭

    @BillJones said:
    I have looked to buy a $50 for a number of years, but the grading is a problem. These coins were heavy and soft. Edge marks are big problem. I saw one over ten years ago for which the grade and price lined up for me, but I couldn't buy it. I had just purchased the 1796 No Stars Quarter Eagle that is in my collection, and I just didn't have the cash available.

    I would never buy anything as lofty as an MS-63. A really nice AU would work for me.

    One collector told me I should have bought an original California gold slug many years ago when I purchased the Pan-Pac $50 gold pieces I have. He may have been right.

    I don't need to tell you but it is VERY tough to find a nice slug. The vast majority have some combination of messed with surfaces, edge damage, planchet flaws, etc. the ones that don't go for WAY over price guide. Compromises have to be made for anything under $75k or so.

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