Big Boy 93 goes on sale Tonight!

Griv

Looks like the Big Boy of modern gold proof Eagle $50s, the 1993 PR70DCAM goes on the auction block tonight. With a pop of 6 and 3 of them tied up forever, there may be a blood bath from the nose bleeds.

Bullion $50 Gold 1993W Proof Eagle PCGS 70 DCAM

wondercoin

Griv: Why is a Pop 6 Proof Gold coin with a mintage of around 34,000 worth $25,000 or whatever someone must pay to fill that particular Registry hole, while a pop 4 Proof Plat coin with half the mintage (say - 1997 $100 for example) worth only 1/2-2/3 that price? What am I missing?

Wondercoin

Griv

Now that's a question I can't answer as it actually frosts me that the Big Boy $50s are so expensive in both MS70 and PR70DCAM when the fractionals are typically a lot more difficult to find and with much lower pops. All I can say is there is something about holding a 1 oz gold coin and people pay a premium for the $50s.

I am curious to see where this coin lands as I think PCGS has overvalued this coin but we shall see. It's actually down from $27,500 to $25,000 but still in nose-bleed country.

wondercoin

Griv - FYI. When the Gold 93 was pop 3 or 4, I believe it was being offered in the $20's - perhaps even around $30k or so. At the same time, I had a 1992 $50 PR70 on consignment that was pop 6. It took me about a month, but I sold it for the customer for around $9k (repeat pop 6 "fmv" was $9k). Now, within a year later, the 93 is the same pop 6 as the 92 was when it fetched around $9k. The 1992 has also moved up to pop 10 now. I can't tell you what may or may not happen in the auction you mention, but, as you are well aware, the values of these lowest pops proofs is generally all about the PCGS pops - and a move from pop 2 to pop 6 in the past year is a huge move. That said - the 1993 $50 is regarded as the key to the PR70DC $50 Gold series and many folks would like to own one - and there is something to be said about high demand and low supply.

Wondercoin

Griv

My bad! The Big Bad Boy goes on sale TOMORROW!

Bummer, I already bought popcorn and ordered a pizza.