I Just Bid $17,250 For An 1866 Three Cent CN And

wondercoin

LOST.


Winning bid $18,400 for an 1866 3 center in PCGS-MS67. Good to see the 19th century minor coins HEATING UP!!

Wondercoin

dpoole

OK, Mitch. You're getting FAR too serious about the Three Cent Nickels.

Have you considered the twenty centers? I understand they're very nice.

wondercoin

Hey, I just wanted to double the value of your collections overnight - they were long overdue - right

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braddick

Amazing. I always thought the 3-Centers would remain in the dooldrums for eternity.

dpoole

Three Centers are the boom denomination of the near future. You heard it here first.

tradedollarnut

I Just Bid $17,250 For An 1866 Three Cent CN And Lost!

Hmmm - methinks you never had a prayer.......

Scher Set

tradedollarnut

I didn't know until I looked at the Scher set - then I knew!

Gotta admire Bruce Scher for being willing to lay out the big bucks to drive a set to none finer across the board. I had my trade dollar set there for a brief period of time, but doubt started setting in as more and more top pops got made. When I realized it was going to cost several hundred thousand dollars just to buy the three coins made in the last 6 months - let alone any future top pops - I turned my attention elsewhere for the time being.

dbldie55

People keep talking about snow out there. Was there that much? It would take multiple feet to even make me notice. (yes, I drove home in a blizzard last night)

oreville

You guys are scaring me!

TDN. Good move.

pontiacinf

wowsier

Thats a not to interesting coin in my book, but thats one incredible set Bruce put together

dpoole

I could have bid much higher

Mitch--I've very sympathetic with the agony and the $$$ of going up against Laura and Bruce!

jcping

May be I should close all my sets so that no one would know what I want

wondercoin

JC: The only thing closed sets do not protect is one's desire for pop 1/0 coins. Obviously, every set needs those, closed or open


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tradedollarnut

Now here's an interesting question:

That coin went for $18,400. If a second one was 'made' and put up for auction, what do you suppose it would sell for with Bruce Scher now out of the picture? $12,000?

dpoole

TDB,

You're not taking into account all the high dollar high grade 3CN MS collectors flocking into the market now.

(I KNOW they're out there somewhere!)

wondercoin

"Now here's an interesting question: That coin went for $18,400. If a second one was 'made' and put up for auction, what do you suppose it would sell for with Bruce Scher now out of the picture? $12,000?"

TDN: I might approach that question this way:

1. The underpop is a mere (4) coins. If one upgrades, the pop would then be just (3) MS66 and (2) MS67. I could see knocking off 25% for the pop 2 - call it $14,000, but, also pump up the "value" for the pop 3 MS66 specimen a bit.

2. The coin does not become pop 2 by this time next year. If the buyer of this coin was asking 25% more for the pop 1 coin one year from now - all things being equal, I would personally not be surprised if he had little difficulty selling the coin at that new level.

So, yes, one could possibly lose $4k with a rising pop and one could possibly make $4k with no increase in pop. Toss in the added pleasure of owning the coin in the interim and the joy that comes from that and I see no problem at all with collectors who seek out these pop 1 jewels.

Again, all this factors out of the equation whether the overall coin market may crash or skyrocket in the interim resulting in added loss or gain possibly unrelated to the particular coin itself.

Wondercoin

oreville

Wondercoin: I beg to differ with you. Rarely does the underpop count drop by one when one of them reaches the next grade.

What will more likely occur is a pop of 4 MS-66 and 2 MS-67 even though this involves the same number of coins.

Now you need to recalculate. In this case I believe both the MS-66 and 67 values drops a bit even though misinformation is involved.

scher

I have been out of town a few days and just logged on..whats all this 3 cent talk? David I hope you stay with the proofs..not sure I can afford the competition on the mint states..they are super tough..I feel it is near impossible to put together a complete set in any grade and //i have been buying nice examples for a few years now.. the prices are sure not what they used to be for nice coins, proof or mint state..
Bruce Scher

wondercoin

"These coins are so rare that most collectors don't even understand them."

I understood them - I just ran into a brick wall. Congratulations on your puchase.

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scher

I believe that there are other buyers out there for these and the prices are starting to move up..I asked Laura after the sale (I was out of town and couldnt be reached) what she thought of the final price..she thought it was fair and there was lots of upside..I know she felt good about buying the coin for me or for her as she said she would gladly keep it if I was uncomfortable with the price...
Bruce scher

wondercoin

Bruce: No need to explain further. I was very happy to win the coin one increment beneath you

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oreville

wondercoin: Perhaps an update on this coin might be interesting to discuss.

onlyroosies

The 1866 is now a pop 2 and both sold back in February in the Heritage auction. Bruce's coin sold for
$12,200 and the other one sold for $10,100 with the juice. I'll bet Mitch is glad he didn't win the
pop 1 coin now.....