1999 SBA $1 At $4200 On Ebay: But, That Isn't The Strange Part.....
wondercoin
Posts: 16,953 ✭✭✭✭✭
Ok. With 4+ hours to go, a 1999(p) SBA $1 in PCGS-MS68 is already at $4200. But, to me, that isn't the strange part. What I find quite surprising is the bidding action. I see our #1 SBA MS set holder and forum member has now been outbid by someone I do not even know at $4200 (and where is #2 Dennis in all this?). But, our #1 set holder must have bid $4100-right? It wasn't much more than 180 days ago or so when I had the #2 and #3 SBA Mint State sets for sale on ebay, #1 set holder made the point that he was not inclined to pay high price tags for these pieces, but would simply make them from mint sets, bags, etc. Indeed, #1 later announced that he successfully slabbed a 1981(p) in PCGS-MS67 as I recall avoiding the $4000-$5000 price tag on that one. Now, to my great surprise, #1 setholder has bid around $4100 to acquire not a low pop rare coin from 1981, but the first 1999(p) SBA to grade!! This speaks volumes to me-are these 1999(p) SBA coins in PCGS-MS68 near impossible to slab and/or is this a tacit recognition that these low pop SBA coins really do command the levels my consignors were seeking earlier this year when I had the sets on ebay and was under "attack" on the other board (before this board was formed), even from the #1 setholder at the time who found the pricing on these SBA's at $4-$5k or more a coin (and I am paraphrasing here) absurd? What is going here? Just more carryover from the MS state quarter high action, which many folks feel is unjustified. And, since this coin is graded MS68, it would even potentially fall under the "tulip bulb" frenzy we hear so much about. Or, is certain clad modern coinage now simply being recognized as rare by more and more collectors? Is this a $5000 coin in todays market? Should it be? 
Wondercoin.
Wondercoin. Please visit my website at www.wondercoins.com and my ebay auctions under my user name www.wondercoin.com.
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Now, I fully support a price premium for "best". But I know wholeheartedly that a 12,368% increase is out of line.
I often see people finish posts like mine with, "Well, it's your money, spend it however you want." I'll finish my post differently - you're an idiot. Just don't take it personally.
Kenny
My Washington Type B/C Set
I would love to have the highest known graded coins, but not at these premiums. I'm officially on the sidelines.
**Edited because I now have a new signature line
Is that MS68 SBA a $5,000.00 coin? Simply, "yes".
peacockcoins
Our new high bidder (pediatricmike) purchased one item from a seller of Joan Baez records and other fine recordings!!
As for this coin I also believe a few more will be made. It will not be easy, but I think a more realistic price will be $2K-$5K depending on how many are made. I could be wrong and I may never get my hands on a 1999P MS68 coin, but this is my hobby and I find the pursiut fun. I do not feel that I "lost" anything. I simply was not willing to pay that much for this coin.
What I really want to see is a 1981S MS67 or MS68. That coin I would envy.
I don't know who the winner is but the runner up apears to be Braddick, the above message includes his web site which is the same handle.
Cointime: As for the P mint coins being of high quality, that is not the case for 1999P SBA$. These coins are in general of much worse quality then their D counterparts. 1999D coins tend to be exceptionally well struck and relatively easy to find in MS67 and MS68. Infact if you find a 1999P PCGS MS67 with "Full Tallons" I am offering $150. ( about 3X the going price )
I place relative rarity numbers on coins such as this SBA based upon many factors, "pop" being just one of them. Your comment that you were comfortable paying $5400 for this 1999 SBA Dollar tonight, imho, "flys in the face" of your position earlier this year on the values you suggested and assigned for these SBA Dollars. The fact this coin is a "pop 1" means much less to me than you obvoiusly. Obviously, folks have been searching for 1981(p) SBA Dollars for 20 years already, while the search for this 1999 coin has only covered 1/10 that amount. BUT, THIS IS ALL FINE. Perhaps you reassessed values for the SBA's; after all, my position earlier this year simply resulted in me believing your set was worth a whole lot more than you might have thought (apart from your comment that your asking price would be around $1 Million)
In any event, the 1999(p) SBA in PCGS-MS68 was in great demand this week and the SBA series appears strong as ever. Perhaps this is a carryover of the strong Ike market we have been experiencing of late? I could only imagine how much one would have to pay for a 1981(s) SBA $1 in PCGS-MS68!!!!!
As for this coin, personally I believe that the 1999 SBA$ were heavily searched from day one and available in bulk (bags, rolls, atc, ). While the 1981 SBA$ were not sought after buy grade until recently and furthermore were never available in bulk, making them both about equal. In other words this 1999 coin is actually very rare. I still think more will be made and I still think more 1981 MS67's will be found.
Anyhow, the hunt continues. Nice sparing with you again Wondercoin, it is all in good fun.
Second, I personally owned (3) of the MS68 SBA coins from 1979-1980 a few years back. The quality was so disappointing to me on one of them (and I won't say which one to not offend that owner today) that, at first, I returned it instead of pay around $500 as I recall. Later, I took it, as a collector insisted he wanted it anyway. At least one other of the early MS68 coins I was also personally unimpressed with. In other words, and I believe Tad can confirm this position, several of the MS68 coins were "squeekers".
Third, the Sacs. I have only handled -1- MS69 so far and it was nice. But, on a general note, I am personally concerned about two thing. First, the metal "turning". Do we know for sure that these coins won't spot over the next 5 years or change colors? Second (and perhaps #1 point here draws into this), the quality of the undergrade coins is amazing!! I have 2001(d) Sacs in MS66 holders that are "no brainer" MS67 or better imho!! I have many 2000(d) MS67 coins that are "no brainer" MS68 etc. I just won't pay for the upgrade fees at this point, but if these coins were to rise sharply, the coins would go right back to PCGS.
Just my personal thoughts TODAY. Down the road, some of my concerns may change, one way or the other. But, today these are some of the reasons the dollar coins may be peaking out. And, by peaking out, this is not to say they haven't performed incredibly well! DRG turned down $10k for an MS68 I think he mentioned. My point is, imho, I don't believe $15k is around the corner
DRG: No change here. Every coin in every series must stand on its own merits