Irrational exurberance? Auction fever?

DesertLizard

I cannot believe the prices tonight on the Heritage auction, today foreshadows the same for tomorrow.

Anyone bid on the 1900-O MS65 DMPL Morgan? I bumped it $450 to crazy money and still am the under bidder. All the DMPL are bringing stupid money.

Got sniped on a beauty, 1806 AU58 50c Benson!! $4,025!!! I was already about $500 over market and got sniped by $100. I decided to back off when I saw I could get a MS63 for about $500 more, albeit no Benson.

My conclusion? The FUN factor. Too many bodies chasing too few coins. Evern common Saints are 20-30% over market. I will wait to spend my $$ in Long Beach and Santa Clara.

Dave99B

I've noticed much the same. Strong prices on most of the stuff I've been watching. I've been shut out so far......Oh well.

Dave

Wingsrule

One-for-26, but not all of those 26 bids were realistic, just happened to get them in early. At least I was high bidder for a few days.

leothelyon

My conclusion? The FUN factor. Too many bodies chasing too few coins. Evern common Saints are 20-30% over market. I will wait to spend my $$ in Long Beach and Santa Clara.

It's just like a car dealers auction, stocking up their inventorys unless it's for a collector. So expect
the prices to be another 10-20% higher to the public at those coin shows. This is a part of the way they make their living.

Leo