Question re Heritage Long Beach Auction

Elcontador

There's a Large Cent in PCGS MS 65 RB that has my attention (think it's lot #5189). The coin is fairly graded, being 40-50% RD, & has nice surfaces. The strike is average, with a number of soft stars & denticles. There's an acceptable amount of spotting for the grade. On a scale of 1 to 10, I'd rate it a 4 to 5.

The question - When going into the Heritage archive, there were 3 other times a coin of the same date & grade was sold.
IT WAS THE SAME COIN AND PRICES WERE ALL OVER THE PLACE.

Can someone please explain what is going on here?

keithdagen

Could be that Heritage bought the piece for their inventory, then later sold it at auction again, or that the buyer decided to sell the piece soon after.

shylock

I could share dozens of other examples with you Jeff. You don't see coins recycle through other auction houses with anywhere near the same numbers. I think most are either 1.) coins Heritage placed the winning bid on, then relisted them 2.) coins they owned from the start and circulated through their inventory and various auctions as Keith mentioned.

My theory: a coin will be listed as "unsold" if it doesn't meet the consignor's reserve, but this doesn't apply to Heritage coins that don't meet their own reserve. They wind up being listed as sold, automatically, for the next highest increment, and "won" back by Heritage. This is conjecture on my part, but its the only way I can account for so many coins being "sold" over and over again, and those "all over the place" prices you mention.

I've had many consignments show up in their inventory shortly thereafter, some of which wind up in the next Signature sale. I've also seen some change holders very favorably -- those are the ones that stick in my craw!

truthteller

Jeff, I viewed the coins requested for the Heritage sale. Look at your PM.

TRUTH

truthteller

Jeff, whoever gave you the information on this coin is way off. The lot 5189 is 1852 PCGS65 RED 1C, not redbrown. The coin is 85% to 90%Red with a touch of light color on the obverse left field. It is blazing but has a very light fingerprint on the obverse lower field. The reverse has a very light center of light color. The only drawback is the soft reverse and obverse denticles which do not affect the devices. An acceptable 65 but not really PQ due to the denticle softness. I'd rate it a '7'

TRUTH