Santa Clara Show Friday Late Night
DesertLizard
Posts: 702 ✭
Evening session of Heritage was interesting. Long periods of unsold lots then bursts of activity.
A lot of psychodelic [sic] quarters - common date MS65s - went for over $1,000 in heated net and floor bidding. Many were shaking their heads.
There were again alot of bargains, especially in Bust, Gold and early quarters. A surprise was how quiet the Mercury dimes traded.
Tomorrow commemoratives and a finally sweep of the floor.
Would love to hear others impressions.
SPECIAL TO ANYONE THERE THIS FRIDAY AFTERNOON ===> There was an older gentlemen who was having heart trouble and the paramedics came. Does anyone know if he is OK? We often take things for granted but I felt that could have been me, i was thinking about him and was hoping he is OK.
A lot of psychodelic [sic] quarters - common date MS65s - went for over $1,000 in heated net and floor bidding. Many were shaking their heads.
There were again alot of bargains, especially in Bust, Gold and early quarters. A surprise was how quiet the Mercury dimes traded.
Tomorrow commemoratives and a finally sweep of the floor.
Would love to hear others impressions.
SPECIAL TO ANYONE THERE THIS FRIDAY AFTERNOON ===> There was an older gentlemen who was having heart trouble and the paramedics came. Does anyone know if he is OK? We often take things for granted but I felt that could have been me, i was thinking about him and was hoping he is OK.
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Numismedia prices
$98
$65
$56
Did you see last night's action? The Lincoln cent is red hot. The early nickle is un-believeably hot. I tried to get a 1906 PR66CAM 5c. It ended with $1600 plus juice.
Indeed, classic stuff bidding is not very intensive. Most opening bids are very high.
I also won both the 1906 Lib nickels in PCGS-PR66CAM. Very tough coins in that grade cameo. I was surprised that while the first coin sold at $1600, the next lot sold for $500 less.
Wondercoin
Barn
The real economic boost to toned coins came in the mid 1980's and early 1990's when it was realized that not only would certification companies grade toned coins, but that the oxidation would often conceal defects that would otherwise cost a grade or two. This was the ugly dog toned coin era since thousands of previously marked AU-unc coins were certified with the hope that they would pick up a high MS grade and be worth a ton. For awhile, sight unseen and sight seen prices were pretty close until it became apparent that a lot of these toned miracle coins were simply junk. Dealer cases filled up with these unwanted children and the entire coin market hit a slump.
Enter the late 1990's. I want everyone to pay close attention here because it's important for anyone thinking about spending $1000 for a rainbow toned 1880-S Morgan. I've been a dealer and attended major coin shows for about 2 decades now. All these nice colorful pretty coins did NOT exist 10 years ago. There were darkly toned coins on the market for sure, and every once in awhile a real blazer would hit the floor and everyone would Oooo and Ahhhhh over it, but the cases and cases full of rainbow bright bag toned dollars didn't exist back then. Don't believe me? Try and find one of these monster coins in an old series 1 PCGS holder. You can forgedaboutit.
So what's going on? I wasn't kidding when I said almost all toned coins were dipped prior to 1980, before the age of toning "enlightenment", because the market wouldn't accept anything else back then. An "original" toned example should be extremely rare today but for some reason I'm seeing more and more of these things pop up. I wonder why?
Market analysis: The toned coin market has already peaked and crashed once. (the ugly ducklings) The new batch of bright pretty coins have only been hot about 5 years now give or take, and they are being created to meet the huge demand and ridiculous prices being paid for them. The market for these second generation toned coins WILL saturate and crash, the only question is when.
> I also won both the 1906 Lib nickels in PCGS-PR66CAM. Very
> tough coins in that grade cameo. I was surprised that while
> the first coin sold at $1600, the next lot sold for $500 less.
The first one is clearly PR67CAM (not quiet an 8). The second one
is a high-end 6 with a good shot to 7. When you compare the two side by side, the first one is a clearly winner.
May be I did not bid the second one is the reason for the lot to sell for $500 less.
When I went to ellesmere in the late 80's to sell some coins they had a display case with about 20 monster toned morgans in it. It looked really sharp.
is a high-end 6 with a good shot to 7. When you compare the two side by side, the first one is a clearly winner."
JCPING: You are absolutely correct that the first coin was nicer than the second. And, with 1906 being in the handful of lowest proof mintages for the entire Lib nickel series (not to mention tough in high grade cameo), they were both quite a buy. From a cameo standpoint, the 1912 gem cameo Lib nickel was quite an interesting coin as well.