ANR Auction Prices

Nysoto

Wow! For the series I collect, some extremely high prices at the ANR auction for early half dollars:

1805/4 half PCGS EF45 $5750
1806/5 half PCGS AU50 $3450
1806 O.106 raw EF40 $2530

Does anyone have comments on prices realized for the series they collect?

FatMan

I went 0 for 4 last night.

Oh well, that will leave me more funds for the FUN Show.

Barry

I went 0 for 2.

toyonakataro

0 for 4. 2 of them went nearly 2X my max bid and other 2 went 50% over my bid. Although I didn't get any, I think my bid wasn't that weak and I really appreciate the dealer who placed bid for me.

Fountainhead

I got a great MS63RB half-cent for 40% of the price I expected to pay for it -- and over a hundred dollars BELOW the starting price posted on the internet!

fountainheadgold

I lost two of two, and i thiought i overbid by 20%

Coinosaurus

Bid stupid money for one coin and got it.

FatMan

Fontainhead and Coinosaurus

Congrats on your wins. Want to share the lot #s so we can see what you won? I'd love to see them.

roadrunner

Thought the gem PCGS MS66 1872 quarter (pop 1) would go for around $10K max....maybe 11-12K. Nope....$13K+. Very strong.
Any ideas of a rip are history.

roadrunner

Fountainhead

Lot #376.

RYK

A lot of the rare date/branchmint gold did not sell. I appear to have won the 1850-C (weak C) $5 in NGC VF-30 for the opening bid (my max) which I thought was a pretty good rip. I have wanted to have a single original Charlotte $5, and this will do it. Now, back to collecting "D" $5's and "O" $10's.

GOLDSAINT

From the collectors point of view some of these very high prices are beginning to look like a price bubble. Everyone knows that as the prices go higher the less people there are in a particular market. Many collectors cannot, or will not, pay some of the prices realized in some of these auctions, so who is going to get stuck with some of these coins? When coins that are rare, but not unavailable, begin to cost as much as an H2 Hummer how many collectors will just shake their heads and walk away. Many of these coins can be bought only by millionaires, and these type folks are very undependable. The reason they have millions is that they don’t buy stuff they cannot make money on, and many will be asking the question whom am I going to sell these coins for to make a profit? Many of the wealthy collectors are older collectors that have been stuck with “ Rare Coins “ in the past and have had to hold on to then for many years. One of the big problems I see is that since they are older they do not have decades to wait to see their investments make money. You will always have those that just have to much money and don’t care, but that is a rarified group. One other thing I have noticed, there is now a huge premium being paid for PCGS slabs that really have nothing to do with the coins inside. At some point if this market continues upward wealth buyers are going to consider this premium to high to pay just for that name on a piece of plastic, and the PCGS market will have a PLASTIC CORRECTION!

tradedollarnut

There's a lot of oomph left in this market - for the right coins. Rising prices tend to bring out the better coins that have been off the market for some time. The cream of the crop will always bring super high prices.

I agree that prices seem relatively high and some collectors are not buying anymore. At the same time, in on of the series I collect, prices have not advanced significantly since 1990 on many of the coins. But they aren't available. Prices have to rise some more before those items begin to come up for sale and when they do there will be hot and bothered buyers jumping all over them at even higher prices.

So, as usual, it depends on what you have. The really nice rare stuff will do quite well, the average stuff will go wanting.

oreville

Goldsaint: While your comment may be valid for a very small minority of the PCGS slabbed coins, the reality is that this coin market has been even stronger than you even suggest in non slabbed areas of the coin market such as unopened obw (Unc) rolls as increases of over 300% just in the last 5 years are not uncommon in nearly 50% of the entire roll market!!!

There are so many examples of prices having gone up over 300% in the past 5 years that have absolutely nothing to do with plastic slabbed coins. In fact, similar increases are seen in "you are not allowed to know what is inside" unopened boxes of GSA silver dollars issued by the US Government back in the 1970's.

Quite frankly, I view these increases up to now more as a market correction of an overly depressed coin market we have seen up through 1997 than of a coin market getting "toppy."

I believe we have much further to go before I seriously consider your concerns valid.

GOLDSAINT

O.K. so here are a few other things to consider.
I do believe that we will have some hyper Inflation. The info. That most of us have is that
the Federal Gov. is 44 trillion in the hole after 30 plus years of borrowing
from all the trust funds. What is more disturbing is that the latest stats
show the American public 32 Trillion in Debt. So the question is, will the
average person be able to buy hard assets even if they know what is coming?
Second I think that lots of new “older material” will come into the market
over the next few years from older collectors trying to retire and cut their
monthly nuts down to size. I think that lots of good older collections are
held by the babyboom group that were taught collecting by their parents and
then went through an inflation period. More and more I see ad copy on Ebay
saying that " I am retiring and selling my collection", or dealers running
estate sales. I understand that the Gov. has created a whole new group of
collectors with the new state quarters, but this group, as well as the X-
generation have no big spend able money yet, and their credit cards are full. I think they
are the rare coin collectors of the future but I don't see that wave for 10
to 20 years except perhaps as type collectors and the cheaper new issues.
Third I think there is a real bubble building in very rare stuff that will
have a very limited market. Rare but not unique coins that are moving at 10
to 50 thousand dollar range seems to me like musical chairs. I see that the
majority of the money being made in the U.S. is made by this babyboom group
that are getting ready to retire. I am not sure they will be able to
continue their hobbies or even investments, in fact I see them cutting back
all these luxuries and spending more on health insurance than coins. You know
a man that has a great job making $200,000 per year spends half of
that just on Taxes i.e. sales, local, state, federal, real-estate etc. If he
has $100,000 gross to pay his bills will he spend $10,000, or 10% of that, on
one coin when he is looking at how his IRA has gone to the devil the last
few years? It is obvious why dealers pay a huge percentage above market
for slabbed material, they need a comfort blanket for those new clients that
have no collecting history, but everything has a top. I still think there is
lots of fun and good bargains to be had, but this is already getting out of
hand in certain areas, and the Feds have not even started distributing the
warehouses full of new hologram bills yet except for the $20.