Common Auction fever.......

IndianHeadMan

I don't really get it. I was at a collectables action Sunday. Common junk was going well over pemium. Then an indian set in EF-XF comes up and I manage to get it for a steal. Then up comes a complete wheat penny set with 09 S-VDB in F and the other keys in XF and it only went for $600. I didn't have the cash to buy it or I would of, but If I had known what it was going to go for I would of saved and went for it. weird stuff man.

kingmatt

That happens all the time at auctions I go to here in Ohio. Morgans, Kennedy halves, Franklin halves all are through the roof. I think the ones paying the high prices think that because its either old or silver it has to be worth lots of money. I was at an auction once where common date, Good condition IHC were going for over $7.00 each!

sinin1

You never know - sometimes stuff goes for way too much and other times not enough - I remember a few months ago going to an estate coin auction - nothing really fancy just lots and lots of generic stuff. If I wasn't so poor I would have bought more - for example they had a couple hundred bags of 200 wheat cents - a hundred bags of 10 walker halves - a hundred bags of 10 Franklins - a couple hundred rolls of JFK '64's. I think it was similar to your case where some people new there were good deals but were rationing their spending for the entire auction because only so much cash in their pocket on that day- I was really happy getting a couple hundred walkers for 90 cents apiece - still don't know why the Franklins went for more - some of the penny bags went for 5cents per wheatie - but I got mine for 2cents a wheatie.

My banker has always told me - CASH IS KING when things get tight - my problem is there is so much to buy, I always run out of cash !