Bought my SOL three coin proof set from the mint in 1986 for $165.00. Traded it a month later for a PCGS F15 1922P lincoln. Sold the lincoln last year for $1000.00
When I was heavy into the Lincoln sets (Pre-Iraq tour number 1) I was bidding on 5 MS67RD's one night... One after the other I watched me lose high bid after high bid... I put an ugly insane bid on the last one... I pulled it home for about 157 bucks... Turns out it was like a POP 22 at the time (Or some very low number).
Upon redeployment of OIF I, I talked it out with a few respected forum members and decided to list it on the bay... It sold for over 1200... I cleared a grand on the sale.
The coin? PCGS, MS67RD 1958-D Lincoln.
Ray
PS. I just checked, the current POP for this coin/grade is 66
I found and 1939 nickel with double MONTICELLO, fine, in change when I was a cashier at a liquor store in 1975. I sold it a few years later for 65 cents. That's a 13-bagger right there... I wish I still had that coin. It's the only error I've ever found in circulation.
Bust halves in XF - AU-58 seemed undervalued in 2001-2002, so I bought 60 of them, especially the better dates. Of course, I picked the crustiest, most original coins I could find at the time. I'm feeling pretty good about that "investment" right now.
When I sent in a 1996 ASE to PCGS and it came back PR70DCAM in. I got a lot of great advice from the forum members on how to list it. Here's the thread: 1996 Proof ASE
It eventually sold for $2,600 on the Bay. Nice profit, considering I bought it from the Mint in 1996 for about $24 or so.
The only other Proof 70 I've ever had graded was the recent 20th Ann. ASE regular proof!
Has to be buying the 10th Anniv. American Eagle set from the Mint in 1995 that included the 1995-W ASE for about $23.00. The ASE graded out a 69, and is worth (they say) about $6K now.
buffs , 1927d geen label pcgs65 ist try and i got a new pcgs66 pop3 none higher, old 1925s pcgs 64 buff loaded with flecks and pvc, once being removed on the 4th try and now it is in a pcgs65 holder. the best for last my buddy caitlen had an old holder 1913d green pcgs67 buff that ive been telling him for 2 years to upgrade and he finally let me submitt the coin in july baltimore show of 2006 and ist try 1913d type 1 pcgs ms68. yes now im called mr horseshoe up his--- go ahead im ready for the you -----
I've had very few coins do much more than double up. But on $500-$5000 coins that can work out well enough. In the 1988-89 market I made the first 1838-0 dime in MS65 after buying it for 64 money. Funny thing was the 2nd submission it went 63 before going 65. In any case I doubled up on that coin for $15,000 and sold it over the phone sight-unseen. Those were the days.
In my late teens I happened upon an 1852-0 Fine-15 quarter at one of my local coin shops that was mismarked as 1852. The mint mark was barely visible under odd toning. I happily paid $20 for it and flipped it to Kam Ahwash for $250. It's the only key date seated quarter I've ever run into at a local shop.
This is an extremely cool thread. Let's see if I can summarize the top 10 among folks who posted dollar figures (because I'm too lazy to figure out the rest). For anything bought raw and slabbed, I'm figuring a minimum cost of $50 including slabbing/postage/etc, and I'm rounding heavily for everything:
Top 15 by dollar value $100,000+ Legend Proof $20 PR67, purchased as PR66 $31,000 clackamas collection of 1800 1968 mint sets paid $4,000, now $35,000 $12,000 MadMarty 1962 50c MS66FBL paid $7 raw, sold $12,000 $10,000 jonathanb 1860-O 10c AU58 paid $408 raw (minus $400 for sale of rest of lot), now $10,000+ $9,000 jonathanb 1855 G$1 MS63 paid $400 raw, now $9,000+ $9,000 coltgus 1861-O $20 AU55 paid $6,000 as AU50, sold $15,000 $8,200 ColonialCoinUnion colonial (unspecified) paid $40, sold $8,250 $5,900 dpoole 1995-W ASE PR69 paid $23, now $6,000 $5,500 dunerlaw 1923-S 10c MS65FB paid $450 raw, now $6,000 $5,400 coltgus 1926-S $20 MS64 paid $3,600, sold $9,000 $4,250 Topdollarpaid marble paid $250, sold $4,500 $4,000 Veep $10 Indian MS65 paid $455 raw, sold $4,675 $4,000 jonathanb George Washington inaugural button paid $50 raw, sold $4,000 $3,800 Animalkeeper 1912 $2.50 MS64 paid $139, now $4,000 $2,800 mooser 1948-D 5c MS66FS paid $165 sold $2990
Top 14 by ratio 240x MadMarty 1962 50c MS66FBL paid $7 raw, sold $12,000 200x ColonialCoinUnion colonial (unspecified) paid $40, sold $8,250 110x dpoole 1995-W ASE PR69 paid $23, now $6,000 80x Geoman $5 silver certificate paid $10, sold $800 80x jonathanb George Washington inaugural button paid $50 raw, sold $4,000 54x jmj3esq 1966 50c MS67 paid $4.50 raw, sold $2,700 50x chiefbob 1996 ASE PR70 paid $24, sold $2,600 36x Murphy Cheerios $1 paid $5, sold $1,800 25x jonathanb 1860-O 10c AU58 paid $408 raw (minus $400 for sale of rest of lot), now $10,000+ 23x centmaster 1990-D 5c MS66FS paid $0.05 raw, sold $1,200 22x jonathanb 1855 G$1 MS63 paid $400 raw, now $9,000+ 18x ddbird Toned Peace $1 paid $30, sold $550 18x mooser 1948-D 5c MS66FS paid $165 sold $2990 18x Topdollarpaid marble paid $250, sold $4,500
unless some fool sold his 95-W prf for $23, then the 5900 made on the 95-w is incorrect. Sets were offerred for $999, even if you culled out the gold at the then current gold price, you had at least $250 in the single one oz proof. So 5700 it is!
<< <i>unless some fool sold his 95-W prf for $23, then the 5900 made on the 95-w is incorrect. Sets were offerred for $999, even if you culled out the gold at the then current gold price, you had at least $250 in the single one oz proof. So 5700 it is! >>
A lot of the accounting figures presented in this thread made me raise my eyebrows, but I took everyone at their word. Allocating a minimum of $50 in slabbing fees eliminated some extremely high ratios that would have been assigned for circulation finds, but it mostly doesn't affect the other ratios and is pretty much irrelevent at this level for the dollar values. And since I rounded the figures, that's another fudge factor. My summary lists start off missing all of the scores that didn't list prices, so they're nowhere near complete.
For my own personal accounting (not related to this thread), I keep track of total cash flow. For example, I include the postage required to mail a check when calculating my cost for eBay wins, and I deduct PayPal fees when calculating the money I get from sales. But that's just me.
Any way you cut it, there are some incredible scores described in this thread!
I put some coins in an envelope when I was 14 (1962). I have no idea why I did so. I was already putting coins in Whitman holders then. Maybe they were doubles. I couldn't afford quarters so I was limited to dimes as my highest denomination. Anyway I forgot all about the envelope only to find it in a book 5 years ago. There were about 2 dollars worth in the envelope (pennies, nickels and dimes). There were 2 "good ones": a 1937-D 3 legged nickel (EF40 PCGS) and a 1939-D (AU55 PCGS).
Not a lottery ticket but still something to smile about.
cho10
Collecting since the 1980's Morgan Dollars Circ. Strikes - Basic Set - Varieties - Prooflike Basic Set - Date Set - Carson City - Early S Mint Short Set - Mintmark Type Set Morgan Dollars Proof - Basic Set - Varieties Peace Circ.
As a seven year old in 1963, I nearly filled a Lincoln cent Whitman album from circulation. A neighbor owned the corner store, he let me go through the change and traded for face value. I still have the set, some are worth $10 or more. The sentimental value is much higher.
A 100,000% (1000x) gain on some coins!
Robert Scot: Engraving Liberty - biography of US Mint's first chief engraver
The biggest home-run would have to be when I got out-bid on a #1 population coin, than two weeks later got the second coin to get the grade at 1/2 the price
<< <i>Very telling about the current state of the hobby when most of the home runs involve coins which suddenly became "worth" many times what was paid for them just by putting them in plastic. It's a big part of the reason why I'm becoming more and more disenchanted with, and jaded about, the hobby. >>
Buying an 1854 type II gold dollar in an old PCGS VF35 'rattler' for $225 at a small local coin show. Sent it back in to PCGS and what do you know, it turned into an AU55. Had to sell it because every time I looked it, I wondered how exactly a coin can improve by 20 points doing nothing but sitting in a holder for years ??????
This was a great thread the first time around, so I will keep it going this time.
I was searching through a dealer's items, mostly old post cards, at an antique store. The individual also had a box of about 30 mostly low grade Large Cents that he wanted $75 each for. I wouldn't have paid $20 each for the majority of the coins. However, at the bottom, I noticed a nice, brown coin with a good planchet. Turns out that it was a 1798 Large Cent with VF details, great brown color, and no major problems. The coin now resides in a VF-20 holder, although I have thought about freeing it from the holder lately.
"It is the mark of an educated mind to be able to entertain a thought without accepting it." -- Aristotle
For a large selection of U.S. Coins & Currency, visit The Reeded Edge's online webstore at the link below.
Living in Jacksonville, FL, I searched over 25 cases of Washington dollars. Built a nice 65+ collection of early comms with the profits on over 300 smooth edge dollars. And they only cost me a dollar each!
No Way Out: Stimulus and Money Printing Are the Only Path Left
I bought an 1836 CBH off ebay for $75 ($60 after a paypal coupon ) on a hunch. When the coin came in, it was exactly what i thought, an O-121 R-5+. It is currently in a PCGS VF-25 slab and attributed as an O-121.
Want to buy an auction catalog for the William Hesslein Sale (December 2, 1926). Thanks to all those who have helped us obtain the others!!!
I bought a crusty old Buffalo Nickel folder full of corroded buffs for $0.10 each. After I looked at it a bit I happened to notice a 1937-D 3 legger hole was full. I thought it was just a misplaced coin, but I was wrong. After multiple acetone and MS-70 restorations, I got the corrosion down to 2 spots on the rim. The obv and reverse were both nice XF-40 or so. Couldn't get the corrosion off the rim so I just sold it for $700 7000% isn't bad LOL. Then there is the 1942-D 2/1 Mercs I found. Bought a $100 face of mercs for 6x, searched them and found two 42-D overdates. One was a problem coin and I sold it raw for $375, the other sits in my safe in a PCGS VF-30 holder.
Course there is the 1926 2 1/2 gold Sesqui I bought for $175 and it sits now in a PCGS MS-64 holder.
I don't know if any of these count, because I haven't sold any of them...
* 1885-CC GSA for $15 in the original sale. I'm guessing it's a 64 or 65. * Smithsonian $5 gold for orig issue price * 1991 1/2-oz gold eagle for about $240
On a one coin basis, at the 1977 ANA (I think it was 1977) in Houston, the Bowers & Ruddy ANA auction had a 1921 Peace dollar cataloged as "MS-60, sharply struck, cleaned." As I looked at this coin I thought it wasn't cleaned, but was actually what was called a "Satin Proof" at the time, a very rare and desireable coin. But I thought, surely most of the guys looking at this coin will think see this coin for what it is...after all, this is the ANA auction and everyone is here. I keep the information to myself. Later, John Dannreuther came up to me and said, "Uh...Uh...did you look at at the silver dollars in the auction?" And I tried to be coy and stammered, "Uh...Uh...Yeah." And he looked at me and said, "So you saw it?" Again trying to be coy I said, "Saw what?" JD laid his his cards on the table (we we're then as now good friends) and said, "The Peace dollar." I fessed up and said, "Yeah, the 1921." So we decided to joint venture the coin, certain we would have to pay several thousand dollars for it. Miraculously, we bought the coin for $260. The next day we had Walter Breen write a letter confirming its Satin proof status and we immediately sold the coin for $6500 to Fred Sweeney and Bruce Amspacher. And another sweet part of the deal...the under bidder at the auction at $250 was wheeler dealer extradinaire Kevin Lipton. If we had known about the Titanic movie at the time we could have said, "We picked off the world!"
In the numismatic marketplace, the best deal I ever did was a little over 20 years ago I had this idea to have a few of the best and most respected dealers independently certify the grades of coins and then have a group of repsected dealers make sight-unseen bids on the coins. The grading group became PCGS and the market-makers became what is now CCE (Certified Coin Exchange.) That idea seems to have turned out ok so far.
If you want to hear about the worst deals...I'll be at the Set Registry luncheon at the FUN show in January. Somebody ask me to tell a few personal horror stories.
<< <i>On a one coin basis, at the 1977 ANA (I think it was 1977) in Houston, the Bowers & Ruddy ANA auction had a 1921 Peace dollar cataloged as "MS-60, sharply struck, cleaned." As I looked at this coin I thought it wasn't cleaned, but was actually what was called a "Satin Proof" at the time, a very rare and desireable coin. But I thought, surely most of the guys looking at this coin will think see this coin for what it is...after all, this is the ANA auction and everyone is here. I keep the information to myself. Later, John Dannreuther came up to me and said, "Uh...Uh...did you look at at the silver dollars in the auction?" And I tried to be coy and stammered, "Uh...Uh...Yeah." And he looked at me and said, "So you saw it?" Again trying to be coy I said, "Saw what?" JD laid his his cards on the table (we we're then as now good friends) and said, "The Peace dollar." I fessed up and said, "Yeah, the 1921." So we decided to joint venture the coin, certain we would have to pay several thousand dollars for it. Miraculously, we bought the coin for $260. The next day we had Walter Breen write a letter confirming its Satin proof status and we immediately sold the coin for $6500 to Fred Sweeney and Bruce Amspacher. And another sweet part of the deal...the under bidder at the auction at $250 was wheeler dealer extradinaire Kevin Lipton. If we had known about the Titanic movie at the time we could have said, "We picked off the world!"
In the numismatic marketplace, the best deal I ever did was a little over 20 years ago I had this idea to have a few of the best and most respected dealers independently certify the grades of coins and then have a group of repsected dealers make sight-unseen bids on the coins. The grading group became PCGS and the market-makers became what is now CCE (Certified Coin Exchange.) That idea seems to have turned out ok so far.
If you want to hear about the worst deals...I'll be at the Set Registry luncheon at the FUN show in January. Somebody ask me to tell a few personal horror stories.
David >>
Interesting story. Thanks for posting. The most I made was $1250, and it came from luck, not skill (the Trends price on a coin I bought changed a few weeks after I bought it).
Always took candy from strangers Didn't wanna get me no trade Never want to be like papa Working for the boss every night and day --"Happy", by the Rolling Stones (1972)
Bought (57) 2006 silver eagle anniversary sets and sold all but 2 perfect sets. In one box of 10 sets I received (7) MS70s and (9) reverse proof PF70s. Funny thing is, I only received (4) regular proof PF70s.
Currently I am at the plate with (80) spouse coins and I am swinging away!
...saw a 37-D 3 legger on ebay a few years ago...it was being offered by a Dealer w/ a B&M somewhere in Wash. State as a VF...I could see by the pics that it was at least an EF for sure...
I placed a strong bid and no one else ever bid on it...I won it for less than VF Bid...
It showed up... not only was it authentic...when I sent it in to NGC...it came back AU-55...
Re: Slabbed coins - There are some coins that LIVE within clear plastic and wear their labels with pride... while there are others that HIDE behind scratched plastic and are simply dragged along by a label. Then there are those coins that simply hang out, naked and free
Comments
Upon redeployment of OIF I, I talked it out with a few respected forum members and decided to list it on the bay... It sold for over 1200... I cleared a grand on the sale.
The coin? PCGS, MS67RD 1958-D Lincoln.
Ray
PS. I just checked, the current POP for this coin/grade is 66
Dennis
Looking for PCGS AU58 Washington's, 32-63.
It eventually sold for $2,600 on the Bay. Nice profit, considering I bought it from the Mint in 1996 for about $24 or so.
The only other Proof 70 I've ever had graded was the recent 20th Ann. ASE regular proof!
Vietnam Vet 1968-1969
Here's a warning parable for coin collectors...
Ever Onward
$500-$5000 coins that can work out well enough. In the 1988-89 market I made the first 1838-0 dime in MS65 after buying it for 64 money. Funny thing was the 2nd submission it went 63 before going 65. In any case I doubled up on that coin for $15,000 and sold it over the phone sight-unseen. Those were the days.
In my late teens I happened upon an 1852-0 Fine-15 quarter at one of my local coin shops that was mismarked as 1852. The mint mark was barely visible under odd toning. I happily paid $20 for it and flipped it to Kam Ahwash for $250. It's the only key date seated quarter I've ever run into at a local shop.
roadrunner
<< <i>
<< <i> I bought a old Marble on ebay for $250.00
and sold it for $ 4500.00 >>
Lucky you. What are the odds of finding someone who lost their marble and are willing to outbid all to get it back?
Nice
Top 15 by dollar value
$100,000+ Legend Proof $20 PR67, purchased as PR66
$31,000 clackamas collection of 1800 1968 mint sets paid $4,000, now $35,000
$12,000 MadMarty 1962 50c MS66FBL paid $7 raw, sold $12,000
$10,000 jonathanb 1860-O 10c AU58 paid $408 raw (minus $400 for sale of rest of lot), now $10,000+
$9,000 jonathanb 1855 G$1 MS63 paid $400 raw, now $9,000+
$9,000 coltgus 1861-O $20 AU55 paid $6,000 as AU50, sold $15,000
$8,200 ColonialCoinUnion colonial (unspecified) paid $40, sold $8,250
$5,900 dpoole 1995-W ASE PR69 paid $23, now $6,000
$5,500 dunerlaw 1923-S 10c MS65FB paid $450 raw, now $6,000
$5,400 coltgus 1926-S $20 MS64 paid $3,600, sold $9,000
$4,250 Topdollarpaid marble paid $250, sold $4,500
$4,000 Veep $10 Indian MS65 paid $455 raw, sold $4,675
$4,000 jonathanb George Washington inaugural button paid $50 raw, sold $4,000
$3,800 Animalkeeper 1912 $2.50 MS64 paid $139, now $4,000
$2,800 mooser 1948-D 5c MS66FS paid $165 sold $2990
Top 14 by ratio
240x MadMarty 1962 50c MS66FBL paid $7 raw, sold $12,000
200x ColonialCoinUnion colonial (unspecified) paid $40, sold $8,250
110x dpoole 1995-W ASE PR69 paid $23, now $6,000
80x Geoman $5 silver certificate paid $10, sold $800
80x jonathanb George Washington inaugural button paid $50 raw, sold $4,000
54x jmj3esq 1966 50c MS67 paid $4.50 raw, sold $2,700
50x chiefbob 1996 ASE PR70 paid $24, sold $2,600
36x Murphy Cheerios $1 paid $5, sold $1,800
25x jonathanb 1860-O 10c AU58 paid $408 raw (minus $400 for sale of rest of lot), now $10,000+
23x centmaster 1990-D 5c MS66FS paid $0.05 raw, sold $1,200
22x jonathanb 1855 G$1 MS63 paid $400 raw, now $9,000+
18x ddbird Toned Peace $1 paid $30, sold $550
18x mooser 1948-D 5c MS66FS paid $165 sold $2990
18x Topdollarpaid marble paid $250, sold $4,500
<< <i>unless some fool sold his 95-W prf for $23, then the 5900 made on the 95-w is incorrect. Sets were offerred for $999, even if you culled out the gold at the then current gold price, you had at least $250 in the single one oz proof. So 5700 it is! >>
A lot of the accounting figures presented in this thread made me raise my eyebrows, but I took everyone at their word. Allocating a minimum of $50 in slabbing fees eliminated some extremely high ratios that would have been assigned for circulation finds, but it mostly doesn't affect the other ratios and is pretty much irrelevent at this level for the dollar values. And since I rounded the figures, that's another fudge factor. My summary lists start off missing all of the scores that didn't list prices, so they're nowhere near complete.
For my own personal accounting (not related to this thread), I keep track of total cash flow. For example, I include the postage required to mail a check when calculating my cost for eBay wins, and I deduct PayPal fees when calculating the money I get from sales. But that's just me.
Any way you cut it, there are some incredible scores described in this thread!
you are correct, there are some impressive gains on that list.
please remember that there are alot of "talkers" in this game. I think they begin to believe thier own BS sometimes.
I was already putting coins in Whitman holders then. Maybe they were doubles. I couldn't afford quarters so I was limited to dimes as my highest denomination. Anyway I forgot all about the envelope only to find it in a book 5 years ago. There were about 2 dollars worth in the envelope (pennies, nickels and dimes). There were 2 "good ones": a 1937-D 3 legged nickel (EF40 PCGS) and a 1939-D (AU55 PCGS).
Not a lottery ticket but still something to smile about.
Collecting since the 1980's
Morgan Dollars Circ. Strikes
- Basic Set - Varieties - Prooflike Basic Set - Date Set
- Carson City - Early S Mint Short Set - Mintmark Type Set
Morgan Dollars Proof
- Basic Set - Varieties
Peace Circ.
What great stories these all are!! Thanks to everyone for sharing.
jonathanb....Thanks for your input and making the list. You really helped this thread out.
Please keep the stories coming.
A 100,000% (1000x) gain on some coins!
I knew it would happen.
<< <i>Very telling about the current state of the hobby when most of the home runs involve coins which suddenly became "worth" many times what was paid for them just by putting them in plastic. It's a big part of the reason why I'm becoming more and more disenchanted with, and jaded about, the hobby. >>
Wow, sorry to hear that. Can I have your coins?
I was searching through a dealer's items, mostly old post cards, at an antique store. The individual also had a box of about 30 mostly low grade Large Cents that he wanted $75 each for. I wouldn't have paid $20 each for the majority of the coins. However, at the bottom, I noticed a nice, brown coin with a good planchet. Turns out that it was a 1798 Large Cent with VF details, great brown color, and no major problems. The coin now resides in a VF-20 holder, although I have thought about freeing it from the holder lately.
For a large selection of U.S. Coins & Currency, visit The Reeded Edge's online webstore at the link below.
The Reeded Edge
I used to search the coins in the red book, I found a 1889s morgan.
my dad took it back and returned it.
I did not search his coins any more. ARG
Www.killermarbles.com
Www.suncitycoin.com
A California Gold Rush History
for $150 and an identical copy just sold at the Stacks May 22, 2007 auction for........$5980.
No Way Out: Stimulus and Money Printing Are the Only Path Left
Www.killermarbles.com
Www.suncitycoin.com
It's now recognized as an R8 variety, with a previously undescribed obverse die (married to the previously known Rev.
the first of 3 now known to exist, and probably the very last draped bust half marriage before Reich's turban head took over in mid-1807
Paid $230... the value now is somewhere in five figure range
Liberty: Parent of Science & Industry
``https://ebay.us/m/KxolR5
Course there is the 1926 2 1/2 gold Sesqui I bought for $175 and it sits now in a PCGS MS-64 holder.
If I had it my way, stupidity would be painful!
My best find was a nice fine '32-D Washington in a bag of junk silver. Paid 4x face at the time for it, it's in one of my quarter albums now.
* 1885-CC GSA for $15 in the original sale. I'm guessing it's a 64 or 65.
* Smithsonian $5 gold for orig issue price
* 1991 1/2-oz gold eagle for about $240
On a one coin basis, at the 1977 ANA (I think it was 1977) in Houston, the Bowers & Ruddy ANA auction had a 1921 Peace dollar cataloged as "MS-60, sharply struck, cleaned." As I looked at this coin I thought it wasn't cleaned, but was actually what was called a "Satin Proof" at the time, a very rare and desireable coin. But I thought, surely most of the guys looking at this coin will think see this coin for what it is...after all, this is the ANA auction and everyone is here. I keep the information to myself. Later, John Dannreuther came up to me and said, "Uh...Uh...did you look at at the silver dollars in the auction?" And I tried to be coy and stammered, "Uh...Uh...Yeah." And he looked at me and said, "So you saw it?" Again trying to be coy I said, "Saw what?" JD laid his his cards on the table (we we're then as now good friends) and said, "The Peace dollar." I fessed up and said, "Yeah, the 1921." So we decided to joint venture the coin, certain we would have to pay several thousand dollars for it. Miraculously, we bought the coin for $260. The next day we had Walter Breen write a letter confirming its Satin proof status and we immediately sold the coin for $6500 to Fred Sweeney and Bruce Amspacher. And another sweet part of the deal...the under bidder at the auction at $250 was wheeler dealer extradinaire Kevin Lipton. If we had known about the Titanic movie at the time we could have said, "We picked off the world!"
In the numismatic marketplace, the best deal I ever did was a little over 20 years ago I had this idea to have a few of the best and most respected dealers independently certify the grades of coins and then have a group of repsected dealers make sight-unseen bids on the coins. The grading group became PCGS and the market-makers became what is now CCE (Certified Coin Exchange.) That idea seems to have turned out ok so far.
If you want to hear about the worst deals...I'll be at the Set Registry luncheon at the FUN show in January. Somebody ask me to tell a few personal horror stories.
David
<< <i>On a one coin basis, at the 1977 ANA (I think it was 1977) in Houston, the Bowers & Ruddy ANA auction had a 1921 Peace dollar cataloged as "MS-60, sharply struck, cleaned." As I looked at this coin I thought it wasn't cleaned, but was actually what was called a "Satin Proof" at the time, a very rare and desireable coin. But I thought, surely most of the guys looking at this coin will think see this coin for what it is...after all, this is the ANA auction and everyone is here. I keep the information to myself. Later, John Dannreuther came up to me and said, "Uh...Uh...did you look at at the silver dollars in the auction?" And I tried to be coy and stammered, "Uh...Uh...Yeah." And he looked at me and said, "So you saw it?" Again trying to be coy I said, "Saw what?" JD laid his his cards on the table (we we're then as now good friends) and said, "The Peace dollar." I fessed up and said, "Yeah, the 1921." So we decided to joint venture the coin, certain we would have to pay several thousand dollars for it. Miraculously, we bought the coin for $260. The next day we had Walter Breen write a letter confirming its Satin proof status and we immediately sold the coin for $6500 to Fred Sweeney and Bruce Amspacher. And another sweet part of the deal...the under bidder at the auction at $250 was wheeler dealer extradinaire Kevin Lipton. If we had known about the Titanic movie at the time we could have said, "We picked off the world!"
In the numismatic marketplace, the best deal I ever did was a little over 20 years ago I had this idea to have a few of the best and most respected dealers independently certify the grades of coins and then have a group of repsected dealers make sight-unseen bids on the coins. The grading group became PCGS and the market-makers became what is now CCE (Certified Coin Exchange.) That idea seems to have turned out ok so far.
If you want to hear about the worst deals...I'll be at the Set Registry luncheon at the FUN show in January. Somebody ask me to tell a few personal horror stories.
David >>
Interesting story. Thanks for posting. The most I made was $1250, and it came from luck, not skill (the Trends price on a coin I bought changed a few weeks after I bought it).
Didn't wanna get me no trade
Never want to be like papa
Working for the boss every night and day
--"Happy", by the Rolling Stones (1972)
I remember it clearly. I was almost 1.
I've heard this story from JD and he also revels in it! Thanks for posting DH.
Betts medals, colonial coins, US Mint medals, foreign coins found in early America, and other numismatic Americana
It's hard to be a sardine in a shark tank. LOL
Currently I am at the plate with (80) spouse coins and I am swinging away!
cracked it out and sent it in, came back PCGS 63RB."
I too bought an ICG AU58 09-S VDB. It is now in a PCGS 63 Brown holder.
I placed a strong bid and no one else ever bid on it...I won it for less than VF Bid...
It showed up... not only was it authentic...when I sent it in to NGC...it came back AU-55...