The Grundy Collection observations
Boosibri
✭✭✭✭✭
The Grundy sale was pretty brutal. The material was fresh to market after having been assembled seemingly through the 1980's. In going through old Freeman Craig catalogs, sometimes I would wonder, "where is this stuff now". Some of it was sitting in Grundy County Illinois, about 60 miles SW of Chicago.
Prices, as expected were quite strong. I bid on 9 lots with intent and won one. Thankfully the one lot I won was the top lot that I wanted.
A few observations:
Bidding via Live Proxy has its advantages. On two lots, I figured my bid, placed it via Live Proxy, and then had to raise my bid further during the auction when it became very clear that it would be insufficient. In one case it wasn't a top lot for me but I decided to bid more strongly. In the other case I had lots two bigger lots just a few lots earlier and had more funds to then spend. I lost both of those auctions despite bidding the same as the final winning bidder. I confirmed with HA that it was Live Proxy bids which trumped my bid. Frustratingly, I swear that on the first lot I was shown that I was the winning bidder.
The Heritage auctioneers were...yikes..... "This lot is from the "Norwood" collection. "This lots with you in the room, Mike" said twice at least. The British accent with extra affect saying the word "arsenal" certainly sounded to my ears like "arseh***" They worked the bids extra hard and it was extra annoying.
That was one of the best runs of Chilean Volcano pesos in almost 30 years. The Ponterio sale of Montgomery had a very nice run and the 1986 Santiago collection was another. Some of the Grundy coins came from these sales.
*The 1821 was a good deal and a rarer date. Perhaps the best of 15 the exist. I bid here thinking it shouldn't sell for less than $10k and bid it up to that level. Had I won this lot I likely would have bid on the 31, 32, and more on the 34.- The 1823 is likely the finest, though earlier images of it show the coin has had a dip unfortunately.
*The 1824 (the lot I bought) is the nearest date excluding the unique 1826 in the British Museum, and a lone known 1830. I can document 5 coins total. Three are clearly impaired. One is questionable VF/XF, and this MS64. As far as condition census goes for the Volcano Peso series I know of the following in 64 with no 65's: 1817-FJ (2), 1817-FD (1) - my coin and I think the most attractive, 1820 (1 - MS64+ the Lissner coin which is dark), 1824 (1) this coin. This 1824 I believe came from the Fonrobert sale based on the superlative description, though there is no plate of course. I think I know who has the bid book for the sale so a small chance to track it further, though most likely it sold to Baldwin or Nassau, or Spink, which is a dead-end.
*The 1825 was the second highest graded behind a 61PL and showed signs of cleaning as do most of this date. This coin sold very cheap at ~$10k..
*The 1831 is a very rare date, on par with the 1824. I was tempted to bid here but there are better coins for the date. At least one that I know of looks to be very nice, or at least it was when it was last imaged.
*1832 is a sleeper date. Not as rare as the 1824 or 1831. Perhaps right behind the 1825 in terms of rarity. This was a good pick-up for someone.
*1834-I (not the IJ which comes nearly exclusively with the Philippines countermark) was my second target. It is the finest that exists and is quite nice. I bid $20k hammer and it sold for $24k hammer. I decided not to do a full Volcano set so I deprioritized this lot. Otherwise I would have bid to win.
- The 1823 is likely the finest, though earlier images of it show the coin has had a dip unfortunately.
Hot: 1732-Mo 8R's are becoming unobtainable, War of Independence, the absolute best coins (duh). Surprises: The low grade, rarities, did well - Peru Arequipa for example. So-So: Bolivia is always a bit softer, Chilean Portraits.
Cape Coral was an absolute steal. I recall this sale as the one which seemed to set the accelerated path for the Latin American coin market and since then it feels like the path for the best coins has been only up. It can't last forever, but this sale showed it has not stopped, yet.
My lone purchase which I am very happy with. Thanks Andy for the multiple lot viewings. Post your purchases if you have any wins.
Comments
Excellent summary
Experience the World through Numismatics...it's more than you can imagine.
There was one coin I wanted and thought I was bidding “strong” for. I was just over 35% of the high end of the HA estimate (I know, I know) and still got absolutely obliterated as the winning bid was almost double mine.
Congrats @Boosibri. That coin belongs with you for sure.
the 1822 960R?
Latin American Collection
Good guess but it was the 1810 M.
I watched the Grundy sale with interest but did not bid. However I did enjoy a good whoopin at Stacks and came home empty handed. Embarrassing.
I'm interested in the pillar dollars on the 14th, but the ones I want most will almost certainly be above any budget I set for myself. There are two others I might try to buy.