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Post a coin that lost the most $$ in the shortest time

This Lincoln 1924-D PCGS 65RD sold for $14,375 in the infamous 2001 Central States sale.

7 weeks later it sold for $6,210

A PCGS Registry generated loss. Mike Hughes was in a hurry to complete/add to his great set before selling it.

Comments

  • tradedollarnuttradedollarnut Posts: 20,146 ✭✭✭✭✭
    How about the 1951-S [???] FSB Franklin Half?
  • wondercoinwondercoin Posts: 16,647 ✭✭✭✭✭
    53(s) Franklin in 66FBL - $69,000 down to mid-$30,000's from auction appearance to auction appearance. One happy customer though - underbidder in auction #1 I believe bought it in auction # 2!

    Wondercoin
    Please visit my website at www.wondercoins.com and my ebay auctions under my user name www.wondercoin.com.
  • tradedollarnuttradedollarnut Posts: 20,146 ✭✭✭✭✭
    53-S ... thanks for the correction!
  • a039a039 Posts: 1,546
    image
  • GrivGriv Posts: 2,804
    How about the 1992, 1994, 1994, 1997, and 2001 PCGS First Strike MS69 Silver Eagles. Sold for as much as $3,000+ each with most available now for less than $100. I blame this partly on the fact that more coins were found but also the fact that these First Strike Eagles are not included in any PCGS Registry set even the First Strike sets. Seems wrong to have First Strike sets that don't include pre-2005 FSs even though there are currently 13 of those years available in FS.
  • wondercoinwondercoin Posts: 16,647 ✭✭✭✭✭
    I still contend PCGS' decision to NOT include the coins has saved scores of collectors possibly tens of thousands (if not a hundred+) of dollars. I tip my hat to PCGS on their smart decision.

    Wondercoin image
    Please visit my website at www.wondercoins.com and my ebay auctions under my user name www.wondercoin.com.
  • GrivGriv Posts: 2,804


    << <i>I still contend PCGS' decision to NOT include the coins has saved scores of collectors possibly tens of thousands (if not a hundred+) of dollars. I tip my hat to PCGS on their smart decision.

    Wondercoin image >>



    Sure, we talked about that but it was my impression from PCGS that they would add them or most probably create a new set. Neither has been done. Since the decision did not save me thousands of dollars but quite the reverse and since I would hope to think that PCGS would reconsider since my sets clearly are #1 in ALL of the First Strike sets without a close second. Tell me exactly who is being affected by their refusal to even consider inclusion in the FS sets? Except for a case or two no one other than me has even finished a FS set so again, who is getting the shaft here?
  • wondercoinwondercoin Posts: 16,647 ✭✭✭✭✭
    Griv: Last I heard, PCGS was considering at this point including the coins. Things move slow sometimes (just ask the state quarter collectors!!) - you may want to check with PCGS on timing.

    Wondercoin
    Please visit my website at www.wondercoins.com and my ebay auctions under my user name www.wondercoin.com.
  • GrivGriv Posts: 2,804
    So on a less volatile topic, please tell me the Sacs are getting the same consideration the States Quarters are getting. It is the exact same issue so please don't tell me no. image
  • The PF70DCAM 1964 Lincoln?
  • The infamous pcgs ms64fs 1960-d nickel. Didn't it go for like $30K one auction, $10K in an auction soon after, and then was bought back by pcgs, and now resides in a plain old ms64 holder (maybe still worth $1K to the right buyer for being so close to full steps, but worth $5 to most).
  • wondercoinwondercoin Posts: 16,647 ✭✭✭✭✭
    "The infamous pcgs ms64fs 1960-d nickel. Didn't it go for like $30K one auction, $10K in an auction soon after, and then was bought back by pcgs, and now resides in a plain old ms64 holder (maybe still worth $1K to the right buyer for being so close to full steps, but worth $5 to most)."

    The 60-D nickel is about the best evidence IMHO of a coin NOT being worth what someone is willing to pay for it. The coin fetched close to $35k with the juice as I recall at that Bowers sale (and was the cover coin on one of those monthly Coin magazines you buy at Borders). Bowers, like virtually every other major coin auction company out there (besides Heritage) does not reveal seller reserves - hence, it does not take -2- bidders to create a record price. Remove the reserve (second sale was a no reserve offering or super cheap reserve obviously) and remove the original bidder who wanted the coin and you are left with JHF who was happy to spend $10k on the coin to clean up the classic Jeff series and remove this "pop 1" problem coin from the scene. Agreed - losing 70% on a near $35,000 coin doesn't happen every day. Wondercoin
    Please visit my website at www.wondercoins.com and my ebay auctions under my user name www.wondercoin.com.


  • << <i>This Lincoln 1924-D PCGS 65RD sold for $14,375 in the infamous 2001 Central States sale.

    7 weeks later it sold for $6,210

    A PCGS Registry generated loss. Mike Hughes was in a hurry to complete/add to his great set before selling it. >>



    You must remember that the price in the earlier auction was not generated in a vacuum. At least one other bidder was competing to getthe price to that level.

    Nevertheless, from the photos, it would appear that the 1924-D in question had been to the "doctor." Never seen a recolored cent that did betray the treatment within a year of being slabbed, as the surfaces are chemically active, encapulation notwithstanding. Probably impossible to tell when it was first slabbed, but in time, the evidence was apparent. Just my opinion, of course.

    The second buyer may have suspected that as did others and that's what kept the price down.

    Ira
    Dealer/old-time collector
  • roadrunnerroadrunner Posts: 28,303 ✭✭✭✭✭
    I can think of 2 transactions. The SP66 1794 dollar (slabbed 65 back in the 1988-90 market) sold for a cool $1 MILLION then realized around $300K on resale within a couple of years. I don't recall the exact time frame however.

    A pop 1 seated half went from $5K to $22K to $7K in 3 successive auction appearances. The last 2 auctions were only a few months apart.

    roadrunner
    Barbarous Relic No More, LSCC -GoldSeek--shadow stats--SafeHaven--321gold
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