Cool gold pattern in tonight's Heritage Internet auction

Blade

Wow, it's so cool to see patterns for gold coins that were produced in gold. This is R8 - the only one, right? I'm just stunned that someone is bidding $431K with juice for a coin over the Internet but I guess it's pretty clear what you are getting. Old NGC holder - clearly CAM or DCAM.

1875 $10 Sailor Head Ten Dollar, Judd-1443, Pollock-1587, R.8, PR 64 NGC

RKKay

You got a house I could borrow?

Placid

Next Bid Meets Reserve.
I think that means the reserve has not been meet but the bid price raised so the the next bid will meet it.

Sunnywood

Tom,

I hate to burst the bubble, but NOBODY is bidding $375,000. If you take a look, the auction says, "Next Bid Meets Reserve." That means the auctioneer has likely jumped the bid up to the increment right below the reserve. That is therefore a book bid, or the consignor's buyback bid if you will. Further, it is EXTREMELY unlikely that the consignor/owner of the coin is anyone other than Heritage themselves. Nobody else would put that coin into a Heritage "Exclusive Internet" auction. Those auctions are basically irrelevant outlets for Heritage inventory and low-end consignments. So this "auction" probably amounts to nothing more than an offer to sell by Heritage.

Best,
Sunnywood

Placid

The coin will be in the last chance auction tomorrow.

nOoBiEeE

<< <i>Tom,

I hate to burst the bubble, but NOBODY is bidding $375,000. If you take a look, the auction says, "Next Bid Meets Reserve." That means the auctioneer has likely jumped the bid up to the increment right below the reserve. That is therefore a book bid, or the consignor's buyback bid if you will. Further, it is EXTREMELY unlikely that the consignor/owner of the coin is anyone other than Heritage themselves. Nobody else would put that coin into a Heritage "Exclusive Internet" auction. Those auctions are basically irrelevant outlets for Heritage inventory and low-end consignments. So this "auction" probably amounts to nothing more than an offer to sell by Heritage.

Best,
Sunnywood >>



Huh?

Sunnywood

Oh, P.S. my comments notwithstanding, the coin is still wicked cool !!!!!

Noobbiee, what part of my post didn't you understand? Oh, the whole thing !! LOLOL Well, stick around the hobby long enough, and it will all make sense

Best,
Sunnywood

coinlieutenant

I wouldnt really call that low end but I get your point nonetheless...

John

gemtone65

Sunnywood certainly has a good point. It's diifficult to imagine someone who is savy enough to acquire this coin yet stupid enough to offer it for sale in an Internet only auction.

Blade

That was the shock in my post - why the heck would this thing be buried in an Internet Exclusive auction?

Makes sense about Heritage bumping the bids. I saw 6 bidders, and it seemed bizarre that none of them bid past the reserve. Now I get it. I talked to my wife and she said to put $500K on it for kicks, but then we figured the legal fees (or getting stuck with Heritage's 5% restock... $25K OUCH) would not be worth it. Even getting banned by Heritage would be a bummer.

oreville

Would anyone care for a copper $10 gold pattern?????

Lakesammman

Seems like alot of the coins are/were one bid from meeting reserve......

Sunnywood

John,

My comment about "low-end consignments" referred to coins consigned by others (not by Heritage themselves). Heritage puts some of their own material into these auctions to pad them, to give them a little more prestige, and most importantly, to use them as an opportunity to make retail offers to sell under the guise of an auction. When others consign coins to Heritage however, only the low-end consignments will go into the "Exclusively Internet" auctions. Most of the good stuff will go into the larger "Signature" Sales.

This gold pattern, being ex Trompeter, has probably been in Heritage's vault for some time. They bought a good part of the Trompeter collection directly from Ed Trompeter's estate. You'd be surprised if you knew all the rarities and goodies that Heritage has been sitting on at various times.

Best,
Sunnywood

Trime

So, is this is a marketing ploy designed to say?
" Did you forget about a great coin that has sat in our vault for some time. Come on guys , make an offer!"
or
Window dressing for an internet auction to attract attention to other lots in the sale?

boiler78

oreville- I still need a $10 pattern for my type set. What do you have? I am interested.

Mark

oreville

boiler: I was just kidding about selling mine since I just bought it only in January from Heritage Auctions (also an internet auction!). These $10 patterns are somewhat available (POP 11/2 finer) and do look nice. Also a great "God Our Trust" motto patterns.
Also much more affordable.

I paid $3565 for this one, also showing close-ups (the second pattern without the slab shown is also graded PCGS PR64BN and was sold in Baltimore by B&M for less $ at $3163.)



A closeup:







The B&M pattern which just sold:

boiler78

Its not nice to tease! $3565 seems like very good value on that one. I didn't like the Bowers coin but your looks very nice.

oreville

boiler78: I did not see the B&M one in person. Those scratches look to be on the holder? The photo shoot looks like they used too much lighting and indeed made the pattern look horrible. I wonder if the pattern looked much better in person?

After 4/15 I will finally take a new photo shoot of the aluminum 1874 $10 PCGS PR65, regular design and send it to you.