what is the most over priced coin you ever saw sell at an auction

barberlover

for me it was when millionair a and millionair b both wanted the only p.c.g.s. 66 32 d washington quarter at a heritage auction and bid the coin up to 10 x bid and it sold for just under 90,000. all i have to say is i would like to invite those 2 gentlemen to a private viewing and auction
of my collection [and lunchon will be provided] lol

hughesm1

<< <i> 32 d barber quarter >>



do you mean 12d???

dorkkarl

if memory serves correct, heritage sold a 1881 nickel pcgs-55 for something well over $2500, about 3-4 months ago.

not the most overpriced coin i've seen, though - would have to check my notes.

K S

Coulport

Everything I am the underbidder on.

barberlover

sorry, i have barbers on the brain. it was a 32 d washington quarter. and the hammer price including the buyers fee was 89,000 plus. i've never really gotton into washintons myself but even though the 32 d is the key date in the series that coin will not make a profit for it's new owner anytime soon.

tradedollarnut

Pales in comparison to the bath the current owner of the 1933 Saint will take when three or four more are legalized!

EVillageProwler

Remember that high-grade FBL Frankie? I think it was a '57-S, and I think it sold at auction the first time for around $90K. Second time around, I think it sold for around $50K or $60K.

See what auction frenzy can do?

EVP

coinguy1

EVP - I believe you're thinking of :1953-S Franklin 50c PCGS MS66, Rarities Sale (Bowers & Merena, 1/01), lot 246, where it realized $69,000. The next time around, it sold for $35,075 in a Heritage sale in August of 2001.

keithdagen

EVP,

53-S in 66FBL -- pop. 1

EVillageProwler

Ahhh, yes, that's the one. Scary the price variance can sometimes be on thinly traded rare collectibles...

EVP

BASEagle

Is this a trick question? In an honest auction with a large number of bidders, the price is by definition correct. It can't be overvalued or undervalued. You may have a different opinion of the value of the object up for bid and drop out of the bidding, but the market is always right. The market value may move again in the next minute, but at the instant the hammer comes down, the price is right.

Mike

jdimmick

Barberlover,

I remember that auction, it was the only 32-d graded in 66, the thing is, I really did not like the eye-appeal of that so called highest grade 32-d. The orange and green toning to me took away from the so called superb surface preservation. I have seen a few pcgs-65 32-d that I would rather have hands down that 66 coin. One I remember particularly was one with the slightest ice blue toning with magnificent luster.(was at a prior signature sale). The coin was pulled of the auction block just prior to the sale and never did see what it would sale for.

greghansen

Pales in comparison to the bath the current owner of the 1933 Saint will take when three or four more are legalized!

Tradedollarnut: What can you tell us about the status of any other 1933 Saints in the process of being legalized? I know (or at least I think I know) that the Treasury Dept. transferred two of these coins to the Smithsonian, but I wondered if there was any other non-proprietary information floating about regarding the efforts of others to get 1933's legalized. I would assume that those efforts, if occurring, would be considered very confidential or proprietary in nature, but figured I'd ask anyway.

coppercoins

Most overpriced auction I've seen - $335 for a $5 BU roll of 1955P cents. I had just bought a box of rolls and got three of them in it. I ran one of mine, but alas, good things don't always come in threes, either that or I was number 4. My roll sold for $11. As I understand it there are still enough stupid speculators around to drive the prices through the ceiling on those rolls in hopes of picking some 1955 DDOs from the roll...Yeah, and if I walk outside right now I'll be able to have a conversation with the Easter Bunny while Santa Claus drops out of the sky right in between us.

ClausUrch

If you purchased a coin for, say $69,000. and then say, sold it later for say, $35,000., would you be able to claim a loss of say, $34,000. on your taxes to offset other investment income and really not be out any money; unlike the schmoe who invested in $1,000. in modern commemoratives in 1987 selling them today????

segoja

Claus,

The answer is no. Coins are not considered by the IRS to be investments. They are collectibles like art, stamps, antiques etc. Technially you also need to report gains if you make money, but still can't take the losses against the gains. Seems unfair, but that's how I understand it.

The only way to be able to claim a loss is if you file a schedule C (profit/loss from samll business), even then it can be tricky if you continually file losses.

Any accountants out there???

ClausUrch

Even if over 50% of your income or business dealing are derived by numismatics????

CLASSICS

a 1953, 1954 1955 1948 roosy dimes ms66 , with a llittle tone on them...1,300.00 dollars....more money than brains

benloe

MS68 Vt D Washington Quarter $1140 !!!

coynclecter

Also Claus:

You can deduct your investment losses from gains when you determine the amount of tax you pay. This only means if you lose 20,000 you don't need to pay tax on that much, it does not mean you owe 20,000 less in taxes. If you are in a 30% tax bracket for example, a 20,000 loss would save you 6,000 in tax but you still lost 14,000.

Coyn

ClausUrch

Ahhh...thank you, coyncollector...now I get it!