Today's Heritage Auction
skier07
Posts: 4,180 ✭✭✭✭✭
I just got back from Long Beach and observed most of today's auction at least the Morgan part. I'm guestimating
that at least 25% of the coins did not sell. A lot of these coins had a minimum, opening bid anywhere from 10
to 20% below greysheet bid. A goodly portion of coins that did sell had an opening internet bid and no further
action. Coins that seemed to be especially slow were MS66-67 common dates. It also didn't help with multiple multiple coins
of semi-key dates. There must have been at least 50 90, 91, and 92CC's. I'm not sure what this means long term, but
compared to the last few years there seems to be less activity today.
Bruce
that at least 25% of the coins did not sell. A lot of these coins had a minimum, opening bid anywhere from 10
to 20% below greysheet bid. A goodly portion of coins that did sell had an opening internet bid and no further
action. Coins that seemed to be especially slow were MS66-67 common dates. It also didn't help with multiple multiple coins
of semi-key dates. There must have been at least 50 90, 91, and 92CC's. I'm not sure what this means long term, but
compared to the last few years there seems to be less activity today.
Bruce
0
Comments
I will give you some examples.
but i do not follow the truly high end close enough to know
the whole range of areas.
<< <i>but i do not follow the truly high end close enough to know the whole range of areas. >>
After getting that 1875 $5 who could?
By the way, any pics of that 1875?
<< <i>I just got back from Long Beach and observed most of today's auction at least the Morgan part. I'm guestimating
that at least 25% of the coins did not sell. A lot of these coins had a minimum, opening bid anywhere from 10
to 20% below greysheet bid. A goodly portion of coins that did sell had an opening internet bid and no further
action. Coins that seemed to be especially slow were MS66-67 common dates. It also didn't help with multiple multiple coins
of semi-key dates. There must have been at least 50 90, 91, and 92CC's. I'm not sure what this means long term, but
compared to the last few years there seems to be less activity today.
Bruce >>
First of all, I buy and sell Morgan Dollars, so there is no disrespect intended here. My take of the past few years is that Morgans have been overvalued. Of course that excludes the truly special coins (premium examples of certain dates and VAMS). The common date MS-66 and 67 coins are artificially high in terms of listed prices. I think that the published values are "manufactured". In general, all auctions that I have attended in the past 10 years have been very inactive during the Morgan and Peace Dollar sections. Same goes for the generic gold sections. Rarely do you experience spirited bidding with such coins. Jmho.
P.S. -- but I do agree with you that lately it is especially slow for the common date high grade pieces. That's because most are overgraded.
number of those common date MS-66 & 67s,
would not have made MS-65 10 years ago.
Camelot