I CAN'T AFFORD ANY MORE COINS

MoneyLA

I was a bidder for a 1936 pcgs pr66 Washington in the Heritage auction at FUN. The coin sold for about $4600 which to me was outrageously high. The last 1936 pcgs pr66 I bought was at $3,000 and I thought I overpaid for that one. Now, another has sold for a much higher price.

Granted, this Heritage coin had toning which might have contributed to the higher price. I did not see the coin, and bid over the Internet.

Still, Im amazed. And maybe it's time for me to put my rainbow and color-toned proof Washingtons up for sale??

cheers, alan mendelson

wondercoin

Alan: Don't fret

The (2) PR66 1936 coins were of exceptional quality and were being pursued by several folks as possible upgrade coins. I won the first coin, which I liked slightly better than the second one. However, several other folks liked the second as much, if not more. You know what a PR67 can bring of this date - it is simply a matter of dollars and "sense" - risk a couple thousand dollars on a possible upgrade worth substantially more.

Bottom line is I believe you would be in error to conclude the new market value for a proof 66 was anywhere close to the amount realized on the coins in that auction. For another example of what can happen to prices where someone believes an upgrade is possible, check out what the (2) 1946(p) quarters brought in the sale last night. The first went for more than $8,000 for a PCGS-MS67!!!! The second PCGS-MS67 went for under $2,000 and was a nice coin!!! Anyone trying to do a "price guide" on this date in MS67 would be scratching their head, unless they viewed the coins and realized what at least (2) folks were trying to accomplish with the $8,000 coin - namely a possible upgrade to NGC-MS68, where they might "cash out" for "5 figures". I hope this helps Alan. Wondercoin

MoneyLA

Thanks wondercoin for your insights. Im glad to know this pr66 was exceptional. Some of my rainbow proofs are also exceptional and I wouldn't mind selling at an exceptional price. Im glad to know the market is THIS strong. cheers, alan mendelson