So lets play how much will the famous Russ"Flea Market Morgan" bring at auction
stman
Posts: 11,352 ✭✭✭✭✭
How much do you think this coin will bring in? It sure hit reserve fast, with a little help. The more I look at this coin the more I like it. Probably defeating my purpose if I should decide to go for it but I just thought this might be fun to guess the price. Let's hear your guess!!!
And also if I do decide to go for it and you bid against me.... better bring a sandwich, cause you gonna eat it.
Russ, did you really get this at the flea market... come on tell the truth
And also if I do decide to go for it and you bid against me.... better bring a sandwich, cause you gonna eat it.
Russ, did you really get this at the flea market... come on tell the truth
Please... Save The Stories, Just Answer My Questions, And Tell Me How Much!!!!!
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The only thing necessary for evil to triumph is for good men to do nothing.
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You're good. Perhaps too subtle, but good nonetheless.
Russ, NCNE
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<< <i>I've got a weakness for inside jokes... >>
Come out with it.
Are you willing to tell us how much you paid for it?
More than $50?
Liberty: Parent of Science & Industry
Liberty: Parent of Science & Industry
<< <i>More than $50? >>
Barry,
Yes.
Russ, NCNE
No way ST. It's a fine friday afternoon, I've been ripping off my employer all day long, and I'm ready to cruise on outta here...
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Camelot
BL. Your guess is sheet price which was his reserve that has already been met. I agree it's not a Monster but honestly I get tired of all the so called Monsters. I think it's graded correctly with no bumps for color.
More than I can say about most of them out there. I think they didn't give a bump higher because it's a BIG price jump to 66. BTW, I don't feel it's 66 either.
Mini Russ: Not enough!
Still, things are a little dry these days on Ebay, and many wallets will be skinnier after Long Beach, so I'm gonna guess $900.
Also, even though it's all about the color, a lot of people are going to think that it's more 64 than 65 on technical merits (of course, that's really just based upon a pic, and we all know that you can't grade accurately by pics).
Maybe $950. Damn nice one, though.
Now, here's an interesting comparison that the Morgan people might be able to intelligently discuss, (and thus adding some fresh wrinkles to the currently smooth Morgan portion of my brain).
That coin is also an MS65, but of a less difficult issue - Greysheet ask is $81. It sold in the Goldberg Longbeach sale in September of last year for $4945 with the juice. It is clearly perceived by Morgan collectors as a monster. What are the things about the coin that make it so?
Russ, NCNE
https://www.ebay.com/mys/active
I see the same "Monsters" on web sites just sitting there. Yes some of the dealers (or wannabees) are still trying to get the big money but they are not moving as much unless they set themselves apart from others. Also many collectors are getting the wiser of how many are AT or enhanced with AT that are slabbed these days.
Now back to your coin, from what I can see like I've mentioned before it looks to be a lock 65 with no bump in grade for color... I like that. The sheets make a decent jump from 64 to 65 so for me to bid it needs to be a solid 65 which it seems to be. I like the look of yours and think you'll do great. Your coin has a lot of gold which isn't as popular to the rainbow folks.
Actually I been looking for a high grade Morgan with nice color. And yours has it all... but since basically it started at 600.00 it might be a tough one for me. Would I bid multiples of what it is now?..... Nope.
Not because I don't think it's worth it but when you get one that the sheets start at 600.00 for a coin it makes it tough to pay multiples of the assigned grade and value. And believe me I don't go by the sheets but I just couldn't and wouldn't pay thousands for color. I've stepped up for a few in my time but I've put it all in perspective and won't pay too much for a coin anymore.
On a side note... I've recently sold some coins and while some of it was for personal reasons, some of it was to get most of my money back while I still could.
Experience the World through Numismatics...it's more than you can imagine.
Barney's is an interesting example. To me, it is a "monster". A very, very beautiful coin no matter how you "flip" it. Also, it confirms what you just said about softening prices. He originally purchased it at about the same time the Goldberg example I posted above sold.
I also understand the "multiple" of sheet issue. Even at the price Barney's just sold for, it still went for 20X Greysheet ask. It makes logical sense that as the grade rises - particularly on somewhat more difficult issues - the premium, or multiple, would drop substantially. That same multiple applied to a coin with a floor already 10x higher would add a whole new meaning to the term "stupid money".
Russ, NCNE
<< <i>1882-o Morgans that are nicely toned are not all that common. >>
Funny thing is, there are three listed on eBay right now! Besides mine, there's an ICG MS65 and an NGC MS64. Toning is also on the obverse, but in my very biased opinion, they aren't as pretty.
Russ, NCNE
Hey, if i was Rich, i would probably be one of Anacondas best customers, but even in the best financial years i ever had, i wouldn't be able to justiy paying 12,000 for a 68 graded rainbow morgan or the like. Proof 70 dcam red copper and rainbow morgans in 68 are in my opionion way to expensive for most people.
When you out price your market there arn't many directions for price to go, i have always been of the mind that pretty original color coins are worth more, but some of the asking prices or even prices fetched on some of them leave me cold. Les
Next, Stman syas Barney's coin blows away the Goldberg coin. Not! In fact, not even close. The Goldberg piece was the finest in a marvelus collection of 100 magnificant toned dollars. The top coin. I saw it twice -- once at the ANA show, and once with the consignor. I thought the coin would go for more than $4500. The gentleman with the top or second best toned dollar collection also saw it, and we discussed the beauty of this coin at length. He said it would go for about $4K as I recall, and was prepared to bid to that level. He was outbid by $1000. In contrast, he also saw Barney coin, didn't particualrly like it, and we both agreed it was probably a $500-900 coin.
The unsold "monsters" on web sites were there last year and are still there now. That shouldn't be surprising. The market is sophisticated (Barney excepted), yet values vary widely. There are no grey sheets. The only true measure of value is determined through competitive auction -- not a seller's asking price. If some of these coins were so offered, they would bring big bucks -- not necessarily on E-bay, but in a LB type auction.
Anyway, I just thought I'd set the record a little straighter in this case, where someone appears to be crying "wolf!" based more on subjective feelings than objective facts.
With all due respect, just because three other 1882-o Morgans that may be nicely toned are on e-bay at the same time does not necessarily mean that they are common...
Experience the World through Numismatics...it's more than you can imagine.
<< <i>Dr. Evil: (putting little finger to mouth) One hundred billion dollars?
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BWAHAHAHAHAHAHAHAHAHAHAHAHA! How wonderful. Perhaps King ArtR will be traveling to the future to meet Dr. Evil! YES THAT's IT!!!!!
Russ, I can't give a real guess on this. I've only had/held two Morgans in my life.
Can I throw a wild guess in? If so, I'd say $1800. If not,
<< <i>just because three other 1882-o Morgans that may be nicely toned are on e-bay at the same time does not necessarily mean that they are common... >>
coincat,
I didn't say they were. Matter of fact, both the other auctions mention the difficulty, with one calling the coin "scarce", the other "rare". I was just noting the irony of the timing. I didn't notice any prior to my listing, now three are listed at once. The coin Gods are conspiring against me.
Russ, NCNE
It is unfortunate that there are others listed at the moment...I am not an expert on all the "ins and outs" of ebay, but I will say that quality speaks for itself. Your coin is attractive and should do well. I guess this thread is about defining what well is in terms of $$$$.
Experience the World through Numismatics...it's more than you can imagine.
<< <i>So, maybe toned dollars aren't rising like they used to, and perhaps second tier coins are even declining some, but certainly not the very best pieces. >>
This was my point when I said "unless they set themselves apart from each other."
I said what I felt in my opinion and that's how I feel. Nothing more to it than that. I have utmost respect that you have a good eye and know the market really well. But in reality I was speaking of the normal collector.... like me and people I speak with. Sorry if you thought I was predicting the market as this was not my intent.
I happen to really like Barney's Morgan.... anything wrong with that
Also, don't have the faintest idea about your statement of "crying wolf" I'm not crying anything. Just stated my feelings that I should be entitled to. I still feel Barney's Morgan blows away the other one.
toned PCGS
rainbow PCGS
rainbow toned
1882 toned
1882-o toned
1882 rainbow
Etc., etc.
Should generate an above average exposure level.
Russ, NCNE
BTW it sold for $1475.00
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