Any Richmond Sale prices realized surprise you?!
KentuckyJ
Posts: 1,871 ✭✭✭
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KentuckyJ
Posts: 1,871 ✭✭✭
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35 DDR Buffalo
Ken
Hoot
<< <i>I was actually surprised at how eak some of the prices realized were for nickels across the board. I stole an 1889 Lib (MS65) that was the best strike on that issue I'd ever seen. >>
That's a nice steal.
Ken
Son of K S
$155+K
WOW
I firmly believe in numismatics as the world's greatest hobby, but recognize that this is a luxury and without collectors, we can all spend/melt our collections/inventories.
eBaystore
A few winners: the 1884 trade dollar was purchased in the early 1990's in a PR62 holder for around $70,000. Final grade PR64 and final price $310,500. The 1841 PR64 seated dollar was purchased at the Pittman sale in 1998 for around $60,000 - final price 6 years later is $150,000. The 1871-CC was purchased as a PCGS MS63 from the Sonnheim collection in 1999 for around $110,000 - final grade NGC MS64 and final price $218,500. The Norweb 1885 made quite a handsome profit as well. And I can only shake my head at the price realized for the 1853 proof.
Of course, many of the other coins didn't do quite as well. The Pittman 1846 proof sold for 10% less than in 1998, and the 1847 sold for 20% less. The 1848 lost money net of the buyer's fee. These coins were held for over 6 and a half years and realized less than paid for them. I suspect that many of the generic lower graded items experienced the same.
<< <i>Not one coin under $200 >>
Here's one: LINK
Thanks for the comparisons. Do you have any more info.?
How about previously paid prices on these?
1885 Trade$ NGC Proof 62 ex:Norweb $1,006,250.00
1870-S $1 NGC XF40 $414,000.00
1817/4 50c PCGS AU50 (O-102a) ex:Eliasberg $333,500.00
with reverse of 79 and had researched prices realized and also contacted dealers for an idea on the coin's value. In proof 64, the coin was thought to be worth approximately $55,000. MY friend was willing to bid up to $70,000 with the juice. Apparently the coin is even rarer than the pop reports indicate, as most major coin dealers have never seen nor held this paticular 1878 Morgan variety.
$155,000-------------UNBELIEVABLE !
I think it is time anyways, for PROOF Morgans to catch up with the high prices realized for MS Morgans. This could be the highest price ever realized for a Proof Morgan. If my memory is correct, I do not think even an 1895 PR 68 Deep Cameo sold for that much.
Remember that Franklin that lost a huge chunk of value six months later after the competition went away.
maybe the price paid for the 1878 reverse of 79 proof IS REPRESENTIVE of that coin's value. PCGS has only graded a total of 8, with a finest known of PR 64 ( 2 ) and NGC has graded a total of 4, again with only 2 PR 64 finest known. This coin may be rarer than a PR 1885 trade dollar, since the pop reports are not known to be that accurate. Also, I can tell a story, told to me by Van Simmons, that a customer of his who owned one of the PCGS PR 64s had lost it, by way of a messy devorce. He claims the client's wife threw the coin into a river. I thought he was joking, but he said he was not !
How many people who collect or study Morgan Proofs have ever seen or know of the auction/sale of an 1878, 7 tf, rev of 79 ???
When I said the price was " unbelievable ", I miss spoke, because the coin actually is extremely rare and again I will throw it into the class/value /rarity of an 1885 pr trade dollar, not as pretty or as rare, but kind of close. Did'nt a pr 62 1885 trade dollar sell at the same auction for $1,000,000. $155,000 may prove to be "cheap" for the 1878 rev 79 Morgan !
TDN,
I guess you could say that any time there are at least two bidders on a coin like this it is a battle of the multi-millionaires, so I think it does reflect the value at the present time.
<< <i><< Not one coin under $200 >>
Here's one: LINK >>
Yep
The difference is that the perfect storm that created that price will more than likely not set the market value in the future. For instance: In the LK Rudolf sale [Stacks May 2003] there were quite a few very rare [R-8] Gobrecht fantasy pieces. Two in particular were the J-88 and the J-108, each of which with 2-3 known. Well, in the same month I bought the Share Collection which contained slightly finer examples of each of the coins. When it came time to sell my coins, I could not get even what the other inferior coins realized at the Rudolf sale - the market simply was not there.
I can tell you that I was the underbidder on the 1841 dollar in the Richmond sale. Laura kidded me about getting beat and I laughed. I said that I was happy that I didn't win - why would I want to be in that coin at $150k? If someone came to me with an equivalent example, I wouldn't pay anywhere near that amount. However, I'd probably pay more than I would have paid before the sale, as there's a new data point in the prices realized.
The price realized does not set the market - it only influences the market.
The 1817/4 halve had been bouncing around a bit. I almost bought it twice. This time around, a good return, since its last two auctions reserve was not met. Sold for $207,000 at B & M in April, 1997.