Just one recent, first-hand example of how difficult it is to buy nice/under-graded coins through pu

coinguy1

The coin below, lot #5488 in the recently-concluded Heritage Portland ANA 2004 sale, was graded MS66 by NGC. While the images certainly don't do it justice, I thought it was under-graded by a point. CCDN bid for an MS66 is $1100 and CCDN bid for an MS67 is $2460.

I was confident enough in my assessment, that I bid $2000 hammer or $2300 total. But alas, someone (or some two or more) must have agreed with me, as the coin realized $2530.

I am not complaining, but pointing out just one first-hand example of how difficult it is to buy nice coins at public auction, even if (especially if?) they are under-graded.

Clankeye

Coinguy-- do you think there is getting to be a line of thinking out there, that like old rattler PCGS holders, coins in old NGC holders are more tightly graded than the current standard?

I've heard some things to this effect. Wondering what your take is.

Clankeye

mgoodm3

That strikes a blow in the argument from last week that auction houses should offer to get undergraded coins regraded. Sounds nice material will get the bids regardless of the grade. There would be one question though. Could it have gotten more if it was in a 67 holder? I don't know.

coinguy1

Carl, I do think many buyers (whether consciously aware of it or not) ARE affected by the perception that some coins in older holders are graded more conservatively. I'd like to think I let the coin, rather than the holder, tell me it was under-graded.

Mgoodm3, that was part of the reason for my post. Would it have gone for more had it been in a 67 holder? I have no way of knowing, but, my guess is little, if any more.

michael

a great thread!!

my take on it

it is really difficult to buy nice coins REALLY nice coins in this current market

many great coins are in strong hands and are not for sale and demand keeps rising with a smaller and smaller supply

when a good coin comes up for auction regardless of the grade on the holder these coins are selling for more than the holdered grade if the coin is perceived by the bidders to be undergraded/extraspecial quality coins

strong money is being paid not only by dealers but more and more by end buyers/collectors via the internet



michael