Ashland/Heritage/Heritage and now Bowers?

marcmoish

Looking at the new Bowers catalog that came in the mail today and was wondering about this particular lot as a good example of mental query of mine in the past - what if a coin is sold within say 12 months or so again and so and so forth.
It is understood that there are many legitimate sales of say a buyer deciding after 1 year the want to unload - that is understood to some extent however this example stood out as more than just that.

Lot 2642 is the Ex Eliasberg 1848-C Half Eagle (ngc64) which has sold or been in major sales now 4 TIMES in under 24 months. Ashland City 1/03, Heritage 1/04, Heritage (again 8/04, and now a mere few months later again in current B&M sale.

Does this bother anyone? And can anyone enlighten me?


Marc

tradedollarnut

I bought a coin at last January's LB sale thinking I was going to begin a new set. Shortly thereafter, I had the opportunity to seriously upgrade my sets and no longer wanted that particular coin. It took two or three tries for it to meet my reserve, but it finally did. In the end, I lost several thousand and a year's worth of interest on it.

It's not as uncommon as you think and could be no more sinister than the buyer changing his mind but not wanting to dump - just like I did.

roadrunner

It could also be a dealer who is reluctant to suffer a loss on a coin and keeps consigning it to multiple sales. I tracked a few coins like this over the past 2 years that were in up to 4 or more sales. It happens. In other cases the dealer made a score and is just looking to dump at a fair profit. It doesn't happen the first time or two, so it keeps getting recycled.

Some people complete sets in a relatively short period and then move on. For specific coins to show up once every 1-2 years for a while is not that uncommon.

roadrunner

MrEureka

It took two or three tries for it to meet my reserve, but it finally did. In the end, I lost several thousand and a year's worth of interest on it.

TDN - Don't forget all the buyback fees you must have paid!

tradedollarnut

The coins I buy are so cool that the auction companies pay me a fee out of embarrassment if they don't sell.....

marcmoish

The coins I buy are so cool that the auction companies pay me a fee out of embarrassment if they don't sell..... cute

however and as I thought I mentioned that part of it I do understand - my issue I guess was this half eagle is being sold for the 3rd time in under 12 months. I do understand what you posted, and agree it does occur.

Roadrunner I have never really done any kind of study on this but if you say you've seen this pattern sometimes etc your explanation makes sense. I admit it does take the bang out of the said coin as it opens up many questions and concerns in anothers mind



marc