Modern Commem Gold Watchers: More "World Gone Mad"
BowAxe
Posts: 143 ✭✭
Bob Lecce's PCGS MS70 Smithsonian $5 sold for $7900 on ebay this afternoon. The auction opened at $500 on 11/27 and bidding initially proceeded at a sedate pace, reaching $1001 on 11/28. But on 11/29 the bid abruptly jumped to $7900, apparently exceeding the next highest bidder's maximum bid by some increment, and there the bid stayed until the auction closed today--no one sniped at the last minute (surprise!).
I fail to understand why anyone would fork out nearly $8000 for a pop. 11 modern coin which is not even among the lowest mintages in the series. By way of comparison, during the past year I paid $1350 for a pop. 6, $1950 for a pop. 3, and $4800 for a pop. 4 [I became temporarily irrational on that one], all of them PCGS MS70 modern commems. I certainly understand the meaning of desire, particularly as the Smithsonian $5 happens to be the very LAST coin that I need in order to complete the "Pittsburgh Collector" Modern Commemorative Gold Circulation Strike Set in MS70. But I will continue to wait patiently for one to come along for a less insane price. Anybody got one to sell me???
I can't help but wonder where the other MS70 Smithsonian $5's are hiding. Only two Registy Sets have them: EBL III and Halwig (I don't know about LS Brown's hidden set). If another set gets upgraded with this coin in the next week or so, I will assume it's Lecce's buyer and we'll know who paid out that ridiculous sum.
Parenthetically, should EBL III acquire the 1996 Cauldron $5 before I find a Smithsonian, he may be interested to know (if I have calculated correctly) that his gold set will ease mine out of the finest spot, because the pop-4 Cauldron is weighted higher than my pop-1 1984W Olympic $10. From my viewpoint this is a sort of slow-as-molasses nailbiter--what fun! (My wife says I'm a cheap date).
Dell
I fail to understand why anyone would fork out nearly $8000 for a pop. 11 modern coin which is not even among the lowest mintages in the series. By way of comparison, during the past year I paid $1350 for a pop. 6, $1950 for a pop. 3, and $4800 for a pop. 4 [I became temporarily irrational on that one], all of them PCGS MS70 modern commems. I certainly understand the meaning of desire, particularly as the Smithsonian $5 happens to be the very LAST coin that I need in order to complete the "Pittsburgh Collector" Modern Commemorative Gold Circulation Strike Set in MS70. But I will continue to wait patiently for one to come along for a less insane price. Anybody got one to sell me???
I can't help but wonder where the other MS70 Smithsonian $5's are hiding. Only two Registy Sets have them: EBL III and Halwig (I don't know about LS Brown's hidden set). If another set gets upgraded with this coin in the next week or so, I will assume it's Lecce's buyer and we'll know who paid out that ridiculous sum.
Parenthetically, should EBL III acquire the 1996 Cauldron $5 before I find a Smithsonian, he may be interested to know (if I have calculated correctly) that his gold set will ease mine out of the finest spot, because the pop-4 Cauldron is weighted higher than my pop-1 1984W Olympic $10. From my viewpoint this is a sort of slow-as-molasses nailbiter--what fun! (My wife says I'm a cheap date).
Dell
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President, Racine Numismatic Society 2013-2014; Variety Resource Dimes; See 6/8/12 CDN for my article on Winged Liberty Dimes; Ebay