Heritage - Won Coin, but are you getting the shaft?

TheRock

Heritage 1964 Link

Everyone beware. I went through an amazing deal last night. This exact same coin was up for auction for $175.00, I bid eariler on it up to $150.00. I passed on it. However, this morning, I received an email asking me if I wanted this coin after the fact since it has not sold. They said " But It Now". I was amazed, I purchased the coin this morning at $175.00. Now I see the exact same coin for sale at $280.00 (Different PCGS #). Beware, I have no idea what is going on. I got a great deal, but watch out for this auction.

flaminio

I don't get it. It's an auction. This one is getting bid higher than the other one. Happens all the time at auctions. It's up to the bidders to educate themselves and make informed bids.

And FWIW -- it's not the same coin -- you mentioned yourself it's a different cert#. Care to link the other one? Perhaps there's something you're not seeing that's making this one go higher.

TheRock

You bet, Here you go. Please tell me if I'm wrong. Just looking out for us collectors. Purchased $175.00 Realized

1964 PCGS PF-69

airplanenut

Fixed link

The one you bought seems to have much less frost, or, Heritage imaging at its usual

coynclecter

Two different coins, you said so yourself.

What I don't understand is If you bid last night to 150 and you were overbid, then why didn't it sell unless they shill bid over you and you didn't overbid. Today they thought that was the max they could get and decided to take the deal.

This is one of the many questions you need to ask with a coin dealer that masquerades as an auction company.

TheRock

I agree. But I'll take the coin at $175.00. The 2nd coin looks dam near lose to the one I purchased. If you can tell the CAM/Frost difference from the Heritage picture #1 and #2 or I'm either lacking the resolution to see it, or i'm just stupid. Did I make a mistake?

flaminio

The two coins in question:



I like the one you didn't buy better. Over a hundred dollars better? Well, not to me, but clearly it is to the high bidder.

No one's getting the shaft here.

TheRock

Sorry, Close not Lose.

flaminio

<< <i>Sorry, Close not Lose. >>

The "edit" button is your friend .

TheRock

Yeh, just fat figuring the keys. Just looking out for us colletors. I still like the coin.

LeeG

Looks like the coin on the right was shot in a Brighter Light. The label is brighter also. That may be causing the difference in the look of the coins?

TheRock

Thanks Lee, makes me feel better.

flaminio

<< <i>Looks like the coin on the right was shot in a Brighter Light. The label is brighter also. That may be causing the difference in the look of the coins? >>

Heritage's pictures are legendary in their lousiness. You'd think an auction house that does as much business as they do would learn to take better pictures. Several forum members here take much better coin photos than Heritage does.

TheRock

We know. MadMarty and now Russ are the Masters of Pictures, do to the lamp concept. Going to have to try this next time. However, I still don't think the 2nd coin is worth an additional $100.00.

stev32k

I suspect the difference is due to the "RD" designation. Someone must have thought that made the coin you didn't buy more valuable. In this case I can't see a $100 worth of difference. The "RD" on an Indian Head will always bring a premium - not so sure about Lincoln cents.

TheRock

Well their both considered RED. I suppose that the person not knowing the difference between a 1964 RD DCAM and 1964 DCAM (Even though their the same coin) would pay more, Never thought of that, That's why I sent the string. Don't get suckered in.

zzzz

Maybe the differance is:

Current Bid: $280.00 ($322.00 with BP)
Reserve Status: Next Bid Meets Reserve


The reserve is $280 ....

TheRock

I know, I paid $175.00 + BP = $201.25

coinguy1

Both coins are "RD". In fact, PCGS wont label a copper coin "Cameo" or "Deep Cameo" if it's not "RD".

When PCGS first started using the "Cameo" and "Deep Cameo" designations, they didn't include "RD" on the labels for copper coins, apparently thinking of it as redundant (since the coins had to be "RD" to receive those designations).

After receiving some inquiries and complaints, they began including the "RD" designation, in conjunction with "Cameo" and "Deep Cameo" ones.

Steve

PCGS added the RD designation to the DCAM designation in recent years. The coin on the right is in the older holder. I have some with the same differences on the label. Both coin labels represent exactly the same designation. Steve

TheRock

Coinguy1 and Steve, U the man. I agree a 100%. That;s why I sent out the thread. These coins can be bot at the price i paid, not the inflated plice price the new coin is going for. Just helping the new guys. GOD I LOVE LINCOLNS.

TheRock

Coinguy1 and Steve. I could not agree more. I'm just looking out for the new coin collectors that need to know this info. Thanks for the help. GOD I LOVE LINCOLNS!!!!!!!!!!!!

pharmer

<< <i>Maybe the differance is:

Current Bid: $280.00 ($322.00 with BP)
Reserve Status: Next Bid Meets Reserve


The reserve is $280 .... >>



zzzz is trying to tell you the other has not sold at all, it is at the reserve waiting for the next bid to actually sell. All coins in Heritage with a reserve go to that number at some point and wait for another bid to actually become a sale. Keep an eye on it.

TheRock

Yi bet. Track'in it as speak my friend.

TheRock

Well, it did not sell at $345.00 I think I got a deal at $175.00