At any other time in the history of our hobby, the current prices being paid for many of the coins today would be signaling an absolute market crash. However there is so much paper in the world that billionaires are as common as clouds in the sky, multi-millionaires are as common as stars in the night sky, and regular millionaires are as common as gains of sand. So who knows where the prices of coins like this might go?
On the other hand we should all be grateful that we got into this market before things get really crazy, and that includes modern as well as classic buyers.
Everything is relative. The folks here that bought very high graded moderns, that were at least scarce, may have seen their investment go up percentage wise greater than most rare classics. You may have had to buy more of them to make the same dollar returns, but it is the end result that counts.
Many many more moderns will double in value before these coins break the $40,000 mark each.
And Laura this coin looks like it does have plastic slid mark rubs to me!
<<PCGS price guide has it at $45K and there is a certain world series participant holding all 19 examples that's hoping that will be updated based on this result>>
PCgs will upgrade the price guide on these - to $45,500.
Why do want to avoid the obvious "potential loss" here. And it really matters not one whit whether its a classic or a modern (still trying to figure out what a modern is), but let me cite an example to illustrate my point. A beautiful drop dead seated liberty quarter sells for $4600 at Long Beach and a couple of weeks later it shows up on a website for $6100. This so called "arbitrage" of $1500 or 32.6% is the real risk as the market already set the value at the sound of the hammer. Of course the lucky collector will get a $600 discount.
This is where the true risk (not the only one) can be in collecting coins, modern or not. Stupidity will always be with us as collectors race to overpay to buy the latest poptop modern or most brilliantly colored coin. However part of that so called stupidy is added on by the middleman.
<< <i><<PCGS price guide has it at $45K and there is a certain world series participant holding all 19 examples that's hoping that will be updated based on this result>>
PCgs will upgrade the price guide on these - to $45,500. >>
You were pretty close. It went to $47,500.
Some refer to overgraded slabs as Coffins. I like to think of them as Happy Coins.
<< <i>Can anyone who saw the coin comment on the apparent rub in the pic on the 1824?
J >>
Coin looked fine to me, wouldn't be upset to see it graded 65. By far the prettiest toned bust half I have seen. The 1811, 1827-O, and 1829-O were awesome, a great collection overall.
Some refer to overgraded slabs as Coffins. I like to think of them as Happy Coins.
There are a few Morgans with wild color, there are a few Morgans with perfect surfaces - but there are very few Morgans with wild color AND perfect surfaces. I think that coin was a bargain.
<< <i>There are a few Morgans with wild color, there are a few Morgans with perfect surfaces - but there are very few Morgans with wild color AND perfect surfaces. >>
There are a few 1965 SMS Kennedys with Deep Cameo contrast, there are a few 1965 SMS Kennedys with near perfect surfaces - but there are very few 1965 SMS Kennedys with Deep Cameo contrast AND near perfect surfaces.
Comments
At any other time in the history of our hobby, the current prices being paid for many of the coins today would be signaling an absolute market crash. However there is so much paper in the world that billionaires are as common as clouds in the sky, multi-millionaires are as common as stars in the night sky, and regular millionaires are as common as gains of sand. So who knows where the prices of coins like this might go?
On the other hand we should all be grateful that we got into this market before things get really crazy, and that includes modern as well as classic buyers.
Everything is relative. The folks here that bought very high graded moderns, that were at least scarce, may have seen their investment go up percentage wise greater than most rare classics. You may have had to buy more of them to make the same dollar returns, but it is the end result that counts.
Many many more moderns will double in value before these coins break the $40,000 mark each.
And Laura this coin looks like it does have plastic slid mark rubs to me!
PCgs will upgrade the price guide on these - to $45,500.
<< <i>Price guides should not change to reflect one exceptional example. >>
Shouldn't, but it does. At least it happens in the stuff I watch closely, and lately it's been happening far more quickly than in the past.
Russ, NCNE
This is where the true risk (not the only one) can be in collecting coins, modern or not. Stupidity will always be with us as collectors race to overpay to buy the latest poptop modern or most brilliantly colored coin. However part of that so called stupidy is added on by the middleman.
You said:
<< <i><< Natural monster color is enjoyable to look at ... >>
So are deep cameos.
Russ, NCNE >>
Now you are getting into a different battleground which is the mint state coin versus the proof coin collectors. Oh my, another battleground indeed!
<< <i><<PCGS price guide has it at $45K and there is a certain world series participant holding all 19 examples that's hoping that will be updated based on this result>>
PCgs will upgrade the price guide on these - to $45,500.
You were pretty close. It went to $47,500.
<< <i>Can anyone who saw the coin comment on the apparent rub in the pic on the 1824?
J >>
Coin looked fine to me, wouldn't be upset to see it graded 65. By far the prettiest toned bust half I have seen. The 1811, 1827-O, and 1829-O were awesome, a great collection overall.
That phrase just seems to be the standard procedure with these little treasures.
<< <i>Here's a PCGS 64 Walker that hammered for $5,500
Purty 58 in a 64 holder.
<< <i>Some amazing prices for bust halves tonight at ANR. Can you believe $20k for a common date MS64 bust half?
How about $25k for an early common date MS65?
<< <i>There are a few Morgans with wild color, there are a few Morgans with perfect surfaces - but there are very few Morgans with wild color AND perfect surfaces. >>
There are a few 1965 SMS Kennedys with Deep Cameo contrast, there are a few 1965 SMS Kennedys with near perfect surfaces - but there are very few 1965 SMS Kennedys with Deep Cameo contrast AND near perfect surfaces.
Russ, NCNE