Why?

Artist

Text

What are these bidders seeing that I am not?

kamehameha00

Shill bidding, perhaps?

relayer

Some people ask why.

I ask why not?

lordmarcovan

Why is it graded MS67? Good question. I wouldn't have questioned the grade when looking at the smaller pics, but when you zoom in and see those marks under the eagle, I'd have to wonder. Kinda flat head, but not awful, I guess. They didn't grade it FH.


Great looking coin, though. I like the luster.

Edit: or were you asking "why" on the price? I didn't really pay attention.

granddad

All previous coins at this grade have sold for 15% of what this one is at now. Next bid meets reserve. Kind of tells the story.

Have a Great Day!
Louis

sliderider

Idiots with more money than brains, most likely.

Artist

<<All previous coins at this grade have sold for 15% of what this one is at now. Next bid meets reserve. Kind of tells the story.>>

Pardon my ignorance, but what exactly is the story?

granddad

IMO the coin is overgraded, and as LM pointed out, it is definately not a FH. The consignor has put a ridiculous reserve on the coin. Heritage charges a 15% buy back fee, so the consignor has used shill bidding to push the item to within one bid of the reserve. He is hoping to get one bid to keep him from paying a huge buy back fee. Even at MS67 the coin is worth $1500 tops on a good day.

kranky

Does an auctioneer care if a consignor wants to put a huge reserve on a coin, even if the auctioneer thinks the coin would never sell?

TUMUSS

Plain and simple - RESERVE HAS NOT BEEN MET!


Heritage....uugghhh.....I mean the "consignor's"........ARE DREAMING AND HIGH when they set some of their reserve amounts.

Boom

Well, I'm not sure about Heritage but I am sure about Teletrade. Owners can legally bid on their own coins to drive prices up. It's right there in the fine print.

In theory Heritage does want the coin to sell because they make 5% of hammer off the owner and what is it, 15% off the buyer, but if the owner is made to remit a 15% buy back fee, Heritage still wins, just not as much. Heritage makes a LOT of money.