How's the Heritage LB Auction Doing so far?

GoldenEyeNumismatics

Haven't been able to track it at all on HA Live--been too busy.

How's the auction going so far? The success of this auction is crucial to what direction the coin market will go, IMO.

Broadstruck

I just watched the Tokens, Medals, and Colonials live today.

Medals where strong, Tokens where strong, Colonial slow for the first 50 lots then picked up momentum.

COALPORTER

We don't really hit coins until tomarrow.

BTW, why no threads on Superior's auction.
About the only highlight was the 76CC 20 cent going
for 260,000. Allot of other big coins DNS like a 95P Morgan.

Barndog

Naval medals were mighty expensive!

speety

<< <i>I just watched the Tokens, Medals, and Colonials live today.

Medals where strong, Tokens where strong, Colonial slow for the first 50 lots then picked up momentum. >>



I forgot about the lot i was going to bid until 15 mins after it sold. I guess i'll use a reminder from now on.

RYK

Oak Tree shillings got murdered. Otherwise, I have not paid a whole lot of attention.

Longacre

<< <i>Oak Tree shillings got murdered. Otherwise, I have not paid a whole lot of attention. >>




I want the Dirty Gold Man back.

garsmith

Don't know but they called me at work yesterday to remind me that the auction was taking place and to ask if I has any coins to sell.

MadMarty

Medals and Tokens were going for uber stupid money! I don't know who is buying, but the sellers have to be happy. There was one set of SC$ that just had STUPID reserve prices on them. Most of those went unsold. But the WCE stuff went for strong money!

badger

I am selling some proofs from 1950 -1964. The bids are strong and above recent historical pricing for no-problem, heavily-frosted cameos in top pop. Great looking coins that are just below top pop are indicating stable prices. Coins with grades that don't come into play for the registry seem to be struggling.

I am waiting to see how my few seated dimes and H10c proofs fare. I got briefly into classics and realized that I don't have the $$ to build sets at reasonable levels.

Dave

dmb411

The prices over all were a bit weak IMO.

roadrunner

The Long Beach shows are not market critical imo. We've had weak LB shows during the past 6 years that indicated market weakness within a stronger bull market. With all the Wall Street turmoil of the past month, and gold cycling like a yo-yo, that does not give much direction to the overall markets. If FUN shows particular weakness, that would be a very negative sign.

I did not attend the Heritage sale viewing but have some comments based on the photos and prices realized.

From reviewing the seated quarters and halves I'd say they sold fairly. A number were stronger than I thought they would be and quite a few NGC coins went cheaper than I'd have expected. The Nevada seated quarter set did decently overall. Some of the earlier dates did very well. The Norweb 1872-s PCGS MS66 quarter fetched $86K which honestly was less than I thought it would go for. There are several of these known in full gem so maybe that had something to do with it. I liked this all orig coin and felt it was superior than the dipped Richmond 66 specimen. A number of better date seated quarters brought nice money including a PCGS VF35 1860-s quarter from the Nevada collection at over $12K. Some of the old Norweb coins did well. But it was clear that overly crusty and subdued MS coins got beat down a bit. The 52-0 in MS62 feteched in the $20's which seems like a bargain after the lone 63 went for $120K within the past year. Probably not much difference betw them either since the 63 orig fetched $20K+ at the Richmond sale.

An 1857 half in NGC 66 that had made the auction rounds back in 2003-2005 looking for a home fetched $6325. It was offered to me before that for $9000. This coin did not do well for its owner. An 1837 RE half in NGC65 looking a tad less than full gem with old dip residue did not sell. No surprise in that real gems fetch close to $20K and pretenders fetch $10-12K. There are some huge type coin traps in the CDN values. An 1853 A&R half in NGC65 look by the photo to be temptingly close to full gem and it fetched $17K+ which indicated it was at least 64+. Oddly, that's the first NGC65 half of this type to bring more than low end "65" money in quite some time at Heritage. I liked the flash on this coin but couldn't tell from the photo if it was once dipped or how many hits it had. Since it sold to the internet, that's potentially a slight negative sign. There have been some schlocky A&R halves in 65 making the rounds at $12-14K for a number of years.

An 1857-0 half in PCGS 64 fetched a decent $8625 for a date that still has no "honest" full gem graded yet. That's a fair price for a nice 64 of that date. A real 65 would easily be double or triple that despite the low CDN value (which is based on the lone "pretender" 65 that last traded for $7-8K or so in 2004).

An 1839 with drapery half in NGC65 caught my eye but I also knew that if it was a legit 65 it would be in the $15-20K range and beyond my buy range. It fetched close to $20K which indicated at least 2 people felt it was a true 65. A with drapery in that grade imo is just as hard to find as a no drapery half.

The proof seated dollars in 64-67 seemed to fetch some strong numbers as well. But again it was clear than some generic quality ones had trouble selling. I note some PCGS and NGC 64's in the $3800-$4500 range which is sort of cheap. Generic 65's were in the $11-12K range.

roadrunner

illini420

I think that some of the perceived weakness of the auction had to do with some of the weakness of the coins available in the auction. For example, I looked at 4 1909 IHC in 65RD and 3 or the 4 had "problems" in my opinion, either spots or unappealing marks. Ended up just getting a 66RD at the show I was more comfortable with. Also was looking at a 1909-D 25c in 64, the Heritage lot had a scratch on the face, ended up buying a better example in the same grade at the show. There was also a 1909 Lincoln in 66RD in the auction that was covered in horrible spots! should have been sent in under the grade guarantee and not auctioned as it makes Hertiage look bad in my opinion. Can provide lot number if anyone is interested.

That said, really strong coins seemed to go for really strong money. Just seems like less people are willing to part with the gems and there's a lot of people trying to unload their junk!

mozin

I noticed that a number of nice REDBOOK variety Bust Halves had what I consider too high reserves. The high bids going into live bidding were not anywhere near the reserves. One coin had a $1500 reserve posted, but no bids placed at all. I bet one individual ended up buying a number of these high reserves lots. Nice to have lots of money to burn. I am talking about AU50 to MS62 Bust Half Dollars.

bestday

<< <i>The prices over all were a bit weak IMO. >>



For sure , I picked up some coins that were bid on the low side from previous auctions

COALPORTER

The few coins I tracked sold for strong prices, well over "full retail".
It seamed like coins under $5000 did okay. Mega dollar coins were spotty, with only a few select coins selling. Most did not make reserve, as can be gleaned by looking at the post auction sales.

I tracked a no star dime 1837 10C No Stars, Small Date MS62 PCGS
it sold for $3220, "full retail" is $1980 .

A 1875P 20 cent PCGS MS64 sold for $4600. Coin World value is $4500, but these usually go for around $2000.

Common date PQ Barber coins in mid MS had no problem with full retail bids, Don't hope to get PQ stuff near wholesale.

I don't think Proof seated dollars did that well, as most are still for sale, post auction.

I don't think seated quarters did that well . In Superior's Pre sale many rare dates in circulated grades did not sell. Coins that DNS included 1840 PCGS MS63, 1843-O PCGS MS63, 56S PCGS MS61, 58-O PCGS AU58, 60S PCGS VF20, 61S PCGS XF45.

Several of the seated quarters in the Heritage sale are now a post auction buy.

About the only seated half that exited me was a 66-S NO MOTTO, PCGS MS62 . It sold for $14,950, which imo, is a screaming bargin for a coin that is in the top 10 finest known and seldom comes up to auction. This coin should be valued more when you consider how much common date uncs sell for.

I tracked two Gobrecht Dollars in Heritage and they both sold, but they were the two lowest graded, both under 20K. The rest, I think 10 coins ,DNS.

Superior's Pre sale had two Gobrecht Dollars that DNS.
A 1895 P Morgan in NGC PF 67 that DNS.
Superior also had two Amazomian patterns that sold for 60,375 and 57,500.