Crazy bidding for raw coins.

Merc

I was checking on this raw 1884-S Morgan. It is around $225 in Au and $3000 in MS60. Whn I last check on the auction it was at $195. Look where it ended.

1884-S

It is a nice coin but I think it has some rub making it an AU 58. Is it really that expensive? This seller has many high end raw coins and they all look great. The old problem is he does not grade them and does not all for returns. Plus, will not take paypal and wants money orders.
That is too big of a gamble for me. I guess other people like the excitment.

eagle7

Just another greedy sucker trying to cop a 3000 dollar coin for 700 dollars. They have sucker written all over their forehead. They are quite literally giving their money away. The coin may be worth 175 if it will slab, which is never certain with a digi pic only coin.

northcoin

Of course the buyer can always take comfort in knowing that there was at least one other person on the planet who almost shared his value of the coin. That is of course barring the prospect of a shill bidder.

jdimmick

Coin is an Au-55 at best IMO

OnlyBuffalos

His ebay name says it all: spearbigfish

Catch22

While I wouldn't bid it above AU-58, the coin does look natural and should slab without any problem.

Talk about a legal disclaimer.....man, this guy is trying to cover all bases.

Merc

Thanks Only Buffalos for making me think about the sellers name. Spearbig fish. I guess that is what he is doing. But why are people bidding so high on his auctions? there are lot of sellers of raw coins on ebay. How did this guy get so many bidders? I wish I could get crazy bids for my coins.

foodude

Wow, that is quite a risk the buyer has taken on a raw coin with a couple of photos. The question I ask in these situations, is if it is such a great deal (i.e., such a huge difference in $$- $200 v. $3000, or whatever) why didn't the seller slab it and get closer getting the $3000?

morganbarber

It is a gargantuan risk that some guy (idiot) is apparently willing to take. My guess is that the coin will not slab. It could, however come back as a 64 or maybe even 65, so the buyer could, theoretically, make out. Of course, if the coin is a legitimate PCGS MS64, the seller would be a fool to sell it raw for $700.00. If I were a betting man, I'd bet that the buyer is the fool, and not the seller.

DennisH

It's impossible to accurately grade coins from pictures alone, so trying to determine whether this one is cleaned, circulated or Mint State is only a theoretical exercise.

But I am certain of this: If this coin happens to certify at AU58, the buyer will have gotten every bit of his money's worth. 1884-S is a date that in AU58 ranges all over the map in terms of value. Really nice ones in PCGS holders that have flashy lustre and strong eye appeal often sell for $1000+, and I've personally seen a couple go for $1200+.

At AU55, however, the buyer is hosed by at least a couple hundred bucks.

-- Dennis

braddick

<< <i>Coin is an Au-55 at best IMO >>


Maybe. But if so (at least via the photos- a tough proposition), it appears to be mostly blemish free and these, even in AU's sure come beat up looking, normally.

It appears to be an original coin and could bounce either way.

paigowjohnny

Looks like much more rub on the breast than my ANACS AU-58 1898-S

AU-55...assuming it hasn't been dipped all to hell.

jom

Since there was strong bidding on this coin (assuming no shills) and IF the seller has a return policy I don't see any problem with this sale. What's the big deal here?

jom

paigowjohnny

<< <i>What's the big deal here? >>



Nothing as long as the guy knows what he's getting into.

Russ

<< <i>Please note that all sales are absolutely final and not subject to return. >>



Of course.

Russ, NCNE

OnlyBuffalos

The potential problem in the fine print is: "Please note that all sales are absolutely final and not subject to return. I am only accepting cashiers checks or money orders for payment and cannot accept Pay Pal.

jom

Good point, Russ. BUT the guys feedback seems good.

Personally, I do NOT buy ANYTHING from Ebay unless there is a return policy. NO EXCEPTIONS.

I'd just like to point out not everyone is crook because they have a no return policy. At least he tells you that in the listing. Some don't even do that because I've had to email people before to find out. I just think some of the assumtions made on this board sometimes is a bit overboard.

jom

DCAMFranklin

<< <i>The question I ask in these situations, is if it is such a great deal (i.e., such a huge difference in $$- $200 v. $3000, or whatever) why didn't the seller slab it and get closer getting the $3000? >>



With that kind of logic, one would have to wonder if there are any remaining coins worthy of a grading services' service. Well, with a monstrous backlog at PCGS and NGC grading 40% more coins than PCGS, it is pretty obvious there are plenty of super nice, raw coins out there for slabbing.