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Interesting price jump at Heritage

RobgettyRobgetty Posts: 1,112
in U.S. Coin Forum
I was looking at the Heritage inventory tonight, and noticed a 1872-S Seated Dollar in PCGS XF-40.
It was listed for $1,400 to direct purchase. Since I follow 1872 coins, I thought to myself:

a- It seems a little pricey. (It is a harder date, but not THAT hard.)

b- Didn't Heritage just have a similarly graded coin a few months ago?

I looked at the historical auction prices, and the identical slab was sold at auction on Jan 31, less
than 4 weeks ago, for $1,007.40, with the 15% included in that price. (Which is more in line with
what I expect)

What justifies pricing a coin $400 above what the auction market just verified was the current value??
Granted, it is now their coin again, by whatever means, and they can try to sell it however they
choose. It just seems like wishful thinking on their part.
Robert Getty - Lifetime project to complete the finest collection of 1872 dated coins.

Comments

  • 291fifth291fifth Posts: 24,323 ✭✭✭✭✭
    Collectors need to make their own judgements regarding pricing. If you think the coin is overpriced, then it is. If, as you say, it is not all that rare, just wait for another to come along.
    All glory is fleeting.
  • gemtone65gemtone65 Posts: 901 ✭✭✭
  • gemtone65gemtone65 Posts: 901 ✭✭✭
    Perhaps that $1400 price is simply Heritage's initial ask amount, and they might be willing to consider something closer to $1000. If the coin intersts you, speak to them about a possible readjustment in price, using the same argument you presented above.
  • RobgettyRobgetty Posts: 1,112
    It just strikes me as interesting that they just had a solid indication of
    price, and less than a month later they bump it 40%
    Robert Getty - Lifetime project to complete the finest collection of 1872 dated coins.
  • BAJJERFANBAJJERFAN Posts: 31,075 ✭✭✭✭✭
    Maybe it was underpriced a month ago.
    theknowitalltroll;
  • dorkkarldorkkarl Posts: 12,691 ✭✭✭
    maybe spot for plastic has gone up since then.

    K S
  • RobgettyRobgetty Posts: 1,112
    image
    Robert Getty - Lifetime project to complete the finest collection of 1872 dated coins.
  • BAJJERFANBAJJERFAN Posts: 31,075 ✭✭✭✭✭
    I was watching one coin from a dealer that he had for quite awhile. He kept raising the price till it finally sold.
    theknowitalltroll;
  • LakesammmanLakesammman Posts: 17,376 ✭✭✭✭✭
    Check out the FE proofs - same coin that "sold" for 21K is now being offered for 32K. Better get it quick before the price goes up!
    "My friends who see my collection sometimes ask what something costs. I tell them and they are in awe at my stupidity." (Baccaruda, 12/03).I find it hard to believe that he (Trump) rushed to some hotel to meet girls of loose morals, although ours are undoubtedly the best in the world. (Putin 1/17) Gone but not forgotten. IGWT, Speedy, Bear, BigE, HokieFore, John Burns, Russ, TahoeDale, Dahlonega, Astrorat, Stewart Blay, Oldhoopster, Broadstruck, Ricko, Big Moose.
  • FairlanemanFairlaneman Posts: 10,423 ✭✭✭✭✭
    The same thing is going on with Merc Dimes, big price increases during the last couple of months.

    Ken
  • koinkrazykoinkrazy Posts: 148
    They had to raise the price to make the coin PQ.image
    I LOVE PROOF SEATED LIBERTY COINS AND ALL BETTER DATE SEATED LIBERTY COINS
  • coinguy1coinguy1 Posts: 13,484 ✭✭✭


    << <i>I looked at the historical auction prices, and the identical slab was sold at auction on Jan 31, less than 4 weeks ago, for $1,007.40, with the 15% included in that price. (Which is more in line with what I expect) >>

    Playing devil's advocate for a moment - perhaps the buyer was willing to pay more than the $1007 that it brought and that is something to consider, as well.

    If, based on my knowledge of the current market, I am willing to pay $1500 for a coin in auction and somehow get lucky and am able to acquire it for $1000, you can bet that I'll mark it up by a hefty percentage. Why should I sell it for less than I was WILLING to pay for it? Maybe I over-valued it in figuring it at $1500, but, maybe it slipped through the cracks at $1000, to.
  • tradedollarnuttradedollarnut Posts: 20,162 ✭✭✭✭✭
    Some business theory dictates that it costs a company just as much to handle a cheap coin as an expensive one. Therefore a company must markup a coin a minimum amount, not a minimum percentage, in order to make money on the coin. I could definitely see a policy of not handling any coin unless you expected to net $250 on it after postage, carrying costs, etc. $1400 does not seem like an extraordinary price in this light.
    Early Dollar Set
  • sinin1sinin1 Posts: 7,500 ✭
    $250 net on each coin?


    that would explain why some of the 'big boys' don't carry what I like - Jefferson nickels and Roosevelt dimes

    in both series, the coin has to be something really special to be worth $250



    or maybe they are just ' too modern' for them to handle


    I disagree with this argument for Heritage - they handle $20-40 coins (not sure if they own them or if consigned)
  • edsondledsondl Posts: 385
    I noticed the same as Ken with the Mercs that are offered as "Buy it Now" rather than at auction.

    A 1944 PCGS MS66FB for $195. Heritage values it at $70-90 and CU outs it at $120.

    Of course Heritage claims that they are "Exceptional", but I am not too sure that I trust that.

    -Dan
  • BAJJERFANBAJJERFAN Posts: 31,075 ✭✭✭✭✭
    JHExceptional is I presume Jim Halperin's personal opinion about a coin which is given that designation and you are free to agree or disagree.
    theknowitalltroll;

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