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Does this Heritage auction make any sense??

MyqqyMyqqy Posts: 9,777 ✭
in U.S. Coin Forum
I can't figure out why this proof Franklin has been bid up so high- look at the previous auction prices realized......
Big money...
My style is impetuous, my defense is impregnable !

Comments

  • slideridersliderider Posts: 1,834
    Sounds like a rich and impatient registry collector to me. I just checked pops and there are enough pieces out there with equal or greater points to not pay that much for this one.
    image
    image
  • 100proof1957100proof1957 Posts: 6,231 ✭
    Thats a pretty common coin for that kinda change !

    Paid like a 190 for my 57,way lower POP !
    image
  • GonfunkoGonfunko Posts: 1,481 ✭✭✭
    Maybe they want to send it in for Grade Guarantee - looks awfully hazy for a PR-68. It still wouldn't be worth it, though...
  • CameonutCameonut Posts: 7,292 ✭✭✭✭✭
    Wow - this coin ought to sell for about $100.

    Could be a newbie that believes too much in the Coin Universe price guide!

    “In matters of style, swim with the current; in matters of principle, stand like a rock." - Thomas Jefferson

    My digital cameo album 1950-64 Cameos - take a look!

  • eagle7eagle7 Posts: 1,441
    It is not bid up that high. Look at the left side of the web page. "Next bid meets the reserve". This coin has a high reserve placed on it by the owner. And one that is unreasonable. This coin will not sell. Case closed. In this case the owner has set the price. And he or she will pay the price. They will have to fork over the money to the auction house. Their folly will cost them bucks. image
    In an insane society, a sane person will appear to be insane.
  • AACoinCoAACoinCo Posts: 241
    HNAI starts their auctions one bid below the reserve.
    All American Coin & Jewlery Co.
    6024 N. 9th Ave #5
    Pensacola, FL 32504
    HTTP://WWW.AACoinCo.Com
  • CratylusCratylus Posts: 871 ✭
    Another nice ancillary "benefit" of the whole Registry Set nonsense: the pressures of an artificially-created competitive market cause coins to be sold for well more than they're actually worth, thus perpetuating the "importance" of the often incorrect printed ticket located inside the plastic holder.

    Yep, gotta love the whole Registry Set thing. image
  • toothpullertoothpuller Posts: 600 ✭


    The reason the auction shows four bids is that the coin opened at 0 and the bids were placed at low amounts. A couple of days before the auction ends the reserve kicked in boosting the price up to what appears now as unreasonable. Therefore the bids already placed have no correlation whatsoever to current price.




  • braddickbraddick Posts: 23,970 ✭✭✭✭✭


    << <i>I can't figure out why this proof Franklin has been bid up so high- look at the previous auction prices realized......
    Big money... >>

    The prices Heritage are quoting are for PR68 1962 Franklins without the CAMEO. The price of a Cameo in PR68, according to PCGS is $270.00. That falls in line with the current bidding.
    Why Heritage is giving poor information to potential bidders I would think is distressing to consigners.

    peacockcoins

  • MyqqyMyqqy Posts: 9,777 ✭
    The prices Heritage are quoting are for PR68 1962 Franklins without the CAMEO.

    Braddick, how did you know that they were quoting non cameo prices?? And who's paying that much for non cameo franklins? image
    My style is impetuous, my defense is impregnable !
  • braddickbraddick Posts: 23,970 ✭✭✭✭✭


    << <i>The prices Heritage are quoting are for PR68 1962 Franklins without the CAMEO. Braddick, how did you know that they were quoting non cameo prices?? And who's paying that much for non cameo franklins? image >>



    PCGS PriceGuide for Franklin Proofs

    peacockcoins

  • MyqqyMyqqy Posts: 9,777 ✭
    Braddick,
    I'm referring to the recent prices realized in both pcgs and ngc slabs that are mentioned on the auction page. I assumed that they would be prices realized for 68CAM franklins....
    image

    Hey myqqy! I love the little fellow in the hat!

    Yeah, he's quite the weasel, eh?? image
    My style is impetuous, my defense is impregnable !
  • braddickbraddick Posts: 23,970 ✭✭✭✭✭


    << <i>Braddick,
    I'm referring to the recent prices realized in both pcgs and ngc slabs that are mentioned on the auction page. I assumed that they would be prices realized for 68CAM franklins....
    image

    Hey myqqy! I love the little fellow in the hat!

    Yeah, he's quite the weasel, eh?? image >>

    No, they're not (they're prices of lots closed for PR68's without the cameo) and thus my statement regarding pathetic stats that do a disservice to the consigner.

    peacockcoins

  • majorbigtimemajorbigtime Posts: 2,937 ✭
    Could be the bigger fool theory in action!
  • danny72170danny72170 Posts: 122


    << <i>

    << <i>Braddick,
    I'm referring to the recent prices realized in both pcgs and ngc slabs that are mentioned on the auction page. I assumed that they would be prices realized for 68CAM franklins....
    image

    Hey myqqy! I love the little fellow in the hat!

    Yeah, he's quite the weasel, eh?? image >>

    No, they're not (they're prices of lots closed for PR68's without the cameo) and thus my statement regarding pathetic stats that do a disservice to the consigner. >>



    If you click the links to those auctions you'll see they were PR68's W/ cameo
    Dan

    My quarters:
    Silver
    Clad
    Statehood

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