Scotsman Auction In St. Louis last night

GOLDSAINT

Anyone have a report?

ladyship

These Scotsman auctions are just a little strange. I think it may be due to the fact that they are very small although they do have good material at times. They cut the Internet auctions off at noon the day of the auction, and then cut the site down completely. If you bid you cannot find out anything for several days. The suspense is just maddening.

roadrunner

Yawn. I'll stay with the bread and butter auction houses. There are enough already.

roadrunner

ColonialCoinUnion

I don't know anything about these guys at all -

About a year ago they had a high end Immunis Columbia in raw Choice Unc. which sold for strong money to someone who evidently figured out they were selling it - I only found out after reading about the result in Coinworld.

If not for that one coin they never would have made my radar screen.

RYK

Yawn. I'll stay with the bread and butter auction houses. There are enough already.

I do not disagree with RR. I live in St. Louis and have easy access to viewing their auction lots. There are some good coins in their current auction but lots of not-so-good and problem coins, as well. Their photography is not the best, either. Unless you can see the lots yourself, I would steer clear (though I would say the same about auctions, in general).

Highlights of this weekend's auction include such rarities as a 1792 half disme, 1796 quarter, 1795 half eagle, and 1797 half dollar. I personally bid on a couple raw gold coins that I thought could be had at a good price. If I do not get them, I do not care. My favorite coin in the auction was a beautiful 1854 Kellogg $20 PCGS-55, very original, fresh (new to the market), and nice. Other commitments kept me from making a bid on it. There is a gorgeous, heavily tab-toned matched Oregon set, which I am thinking of bidding for.

I will post a show report later today or tomorrow and auction update next week.

Robert

MFH

Robert,

I'd be interested in finding out what their gem unc 1916 SLQ sold for...I think it was in an NGC 65 or 66 holder, thanks.

goose3

RYK

I'm curious to hear what the 1792 HD goes for.

RYK

I will be happy to post these results when I can get them.

Sandhawk

I was in St Louis last week and went to their store. They had a nice Morgan Dollar Grading Set in a 2 piece capital plastics holder for sale. It was a complete grading set that went from AG-3 to MS-66.

PhillyJoe

They are a regular on ebay and I've purchased a few from them. They actually find the real coin estate sales and submit the coins themselves. I've always been pleased with what I've purchased.

Joe

Russ

<< <i>then cut the site down completely. If you bid you cannot find out anything for several days. >>



That explains why it won't load today. I'd bid on a group of 50 proof sets and wanted to see what they closed at.



<< <i>I've always been pleased with what I've purchased. >>



Joe, you're killing me! Bwuahahahahahahahahahahahahahahaha!!!!!!!!!

Russ, NCNE

GOLDSAINT

Thanks all,

RR, I have been getting my butt kicked so much on Heritage, I did bid on a few coins in this sale.
The bids I have been placeing on the net at Heritage that are close to retail. and are blown away before they ever reach the floor. The Pittsburg sale has some beautifull pieces but I am sure these will all go for big money in this market, what do you think?

Thanks RYK please let us know what you hear.

Philly Joe,
Do you have a website handle for their Ebay site?

northcoin

Thanks - could you include a report on what the G-4 ANACS half disme went for? I tried to check to see how high the internet bidding had gone but site was already closed down. Does anyone recall how high the bidding went on the internet site before the floor bidding?

RYK

ANACS half disme--Hammer $18,000

1916 MS-65 SLQ--Hammer $41,000

Bidding was strong all around.

GOLDSAINT

Thanks Robert for your help, I guess the idea of catching a few deals was not in the cards. Thought maybe people would be wore out after a hectic summer season?

RYK

I thought the same and was outbid on two of three lots, pummeled on one.

roadrunner

Goldsaint, my brief experiences with Scotsman back in the 1988-1989 was enough to lead me elsewhere, hence my "yawn."

roadrunner

JadeRareCoin

I just returned to my hotel room after bidding in the second session of the Scotsman auction. Another night of insanely high bids on just about everything. In total, we only won 12 lots in both sessions combined. Here are some sample prices (including the buyer's premium):

1792 half disme: 21,275
1895 nickel in MS-66 raw: 1,265
1926-S nickel in AU-55: 2,530
1937-D 3-leg nickel in EF: 949
1937-D 3-leg nickel NGC-63: 3,910
1874 dime MS-64 (raw): 4,370
1916-D dime ANACS net VG-8 (corr./clnd.): 1,380
1894 quarter MS-65+ (raw): 4,600
1916 quarter F-15 (raw): 7,475 (our max was $5,500)
1916 quarter NGC-66 FH: 47,150 (this coin was NOT very nice)
1919-D quarter MS-60+: 4,888
1921 quarter VF-30 (raw): 1,610
1797 half NGC VF-30: 60,950 (our max was 49,450, but we predicted 60K)

The above list is a compilation of some of the coins that went for way more money than I ever expected, except for the 1797 half. Other coins went for reasonable money, but still at retail or over. The coins and currency that we did win were items that were very nice for the grade or on our customer want list. The bidding was very strong and it was standing room only on the first night. Tonight had a smaller crowd, but the bidding was still strong.

I have been bidding in Scotsman auctions for a few years. Before Scotsman, it was NTL out of Baltimore, but I think that the two organizations have merged as one auctioneering company. In the past, it was easier to "rip" nice material in their auctions. Now the competition is just as brisk as any other major auction. I think that Scotsman did a very nice job overall. It takes a lot of effort to direct a major auction. The only constructive criticism that I can offer to Scotsman is that they take more time on their next auction catalog. There were literally dozens of typographical errors throughout. We found several while viewing auction lots. They should also inject a bit more numismatic expertise in the lot descriptions. Maybe hire outside specialists to proof read each respective area? You could tell that the writing was forced and an attempt to mimick major auction catalogers such as ANR or Bowers & Merena. If they clean-up future catalogs, then you can expect to hear a lot more about Scotsman's auctions. They are a nice bunch of people, too.

That's my auction summary. The show in general has been very busy and the buying/selling activity just seems to keep building steam. I predict a very strong ANA this year (just a few weeks away). Now, if you will excuse me, I have to get back to work!

Dennis

RYK

Dennis,

Thanks for the first-hand recap and nice seeing you at the show.

Robert

GOLDSAINT

Jade,

Are the dealers now bidding retail just to find good coins?

RYK

Though I am not a big buyer or seller with Scotsman, I have purchased auction material, sold coins at the store and via auction, and visited the store to look at auction lots in the past. I must say that they need a serious lesson in customer service! They were generally unwilling to give auction results yesterday (unless you asked John Bush, the director, who is ALWAYS very nice) and would not let me pick up the coin that I won yesterday or today (I will have to make a special trip to the store).

Here is another example. In an empty room with a few employees hanging out, I asked for the result of the auction for the Oregon Set. You would think I was asking for the combination to their safe at the store. Eventually, I was told that without the lot number, they could not tell me the result. Sheesh! There were auction catalogs all over the place. I asked the young man to hand me the catalog right next to him, and I would look it up for him. The epiphany was as if I had just discovered penicillin or something. I gave him the lot number, after a few minutes of doing something else on the computer, he asked me again for the number and finally gave me the results. Would it be so hard to post the results on a sheet of paper, so I would not have to grovel to find out if I won the coin?

I have other examples, but I will not go into it now. Their service is lame, and I am done with them.

MacCrimmon

What was the Oregon year and what did it hammer for?

RYK

The Oregon set was 1938, richly tab-toned, and it hammered for $825.

dorkkarl

if you look at what happened in the auction, then you'd be a numb-minded fool to think coins must be certified to bring top dollar. i was stunned at what some of these coins pulled down, especially the raw barber quarters & halves, & a lot of the seateds as well. it's obvious that the scotty-boys scarfed up an old estate somewhere, because some of these coins were phenomenally fresh. i don't have auction results handy, but echo the sentiment that the bids were extremely strong. i got totally skunked.

& getting skunked stinks!

K S

MFH

Dennis & Robert,

Thanks for the update on the 1916 SLQ, $41,000 plus the Vig means it was an NGC 66FH, correct ?

marcmoish

maybe two years ago I had the fortunate (cough cough holding throat emoticon) of winning a better date Merc in high grade FB. (which date is irrelevent!) not knwoing better and unable to see the coin in person I asked for specific details and preservation comments and had the coin described to me which made it sound totally gorgous - I put in my "max" bid and this was well over what the current bid was on the internet. To cut thru the BS, I won this freakin dime for my "max" but when I received the dime I puketh'd (not butt ugly but not what I expected, fine for another - deadly for me) plus I was told floor bids were strong and all - I found out there was not a single bid from the floor nor do I believe the high bid on the internet trully rose much over to my max bid.
Needless to say it was the last time I would ever even think of them let alone say a good word - makes me wonder why they still send me catalogs.
Water under the bridge!


Marc

LanLord

<< <i>1921 quarter VF-30 (raw): 1,610 >>



What? That's gotta be 4 - 5X what it should have gone for.

Strong prices all around, but that is rediculous