A little Teletrade Trivia
19Lyds
Posts: 26,470 ✭✭✭✭
Ole stupid me decided to actually L@@K at the Teletrade Web page instead of immediately Browsing Catalogs or hitting the Track & Bid button.
I saw this article so I did a little poking.
Wow!
NO 1993-W PR70 DCAM Eagles have ever even come close to that price!
Edited to Add:
The intent of my post was to show that in 2006, the 1993-W sold for $33,000 plus buyers fee's which brought it up to $36,960. Auction Link
The same coin in the same grade today brings $3,500 plus buyers fees. Thats a $30,000 difference and I'm sure the buyer has been feeling ill ever since.
I in no way mean this to be a Teleterade slam or imply that Teletrade might be less than truthful.
I saw this article so I did a little poking.
Wow!
NO 1993-W PR70 DCAM Eagles have ever even come close to that price!
Edited to Add:
The intent of my post was to show that in 2006, the 1993-W sold for $33,000 plus buyers fee's which brought it up to $36,960. Auction Link
The same coin in the same grade today brings $3,500 plus buyers fees. Thats a $30,000 difference and I'm sure the buyer has been feeling ill ever since.
I in no way mean this to be a Teleterade slam or imply that Teletrade might be less than truthful.
I decided to change calling the bathroom the John and renamed it the Jim. I feel so much better saying I went to the Jim this morning.
The name is LEE!
The name is LEE!
0
Comments
April 23, 2006
GrandAm
<< <i>NO 1993-W PR70 DCAM Eagles have ever even come close to that price! >>
The pre-sale estimate was $15,000 or more. The $36,960 winning bid paid by the anonymous collector includes a 12 percent buyer's fee.
Lee, you didn't poke far enough. On April 23, 2006 the coin did sell for $33,000 + 12% buyers fee = $36,960
I believe I've seen Wondercoin post the story of this amazing auction in 2006. Since then they've been selling more in the $4-5K (plus 15%) range.
However, it is hard to find a 91 in history. I have a customer looking for one of those and it appears to be now more difficult than the 93. Please PM me if you have one for sale. --Jerry
<< <i>43 made in the last 2 plus years makes the '06 buyer's $36K coin worth 6K, maybe? All's I can say is dayum! I noticed that particular coin is NOT up for bidding...probably took it with him just prior to leaping out a window of a tall building. >>
My thoughts exactly!
BTW, that same article quotes a 1971-S PR70DCAM IKE selling for $16,240 while that same coin can now be had for less than $6,000.
The registry can be a serious and expensive game to play!
The name is LEE!
<< <i>Lee,
I believe I've seen Wondercoin post the story of this amazing auction in 2006. Since then they've been selling more in the $4-5K (plus 15%) range.
However, it is hard to find a 91 in history. I have a customer looking for one of those and it appears to be now more difficult than the 93. Please PM me if you have one for sale. --Jerry >>
Are you talking about a 1991-W PR70DCAM Eagle? There are 8 of them in the Teletrade history.
BTW, there should be 36 of them floating around out there somewhere.
The name is LEE!
1. Wild auction prices are not unique to modern coins - anyone remember the near $200,000 1919-D Mercury Dime Heritage sale, followed by the next one at just over half the price? I won't even comment on "registry quality" Buffalo nickel sales from there highs of just a couple years ago to today. But, check out Heritage prices for many startling observations.
2. I know for a fact that the 1993 $50 Proof Gold under discussion was reserved for a tiny % of what the coin fetched - at least -2- determined bidders chased each other up to that $36,000+ sales price. Funny side note - I got a call shortly after that auction asking if I could locate the other coin of the pop -2- as (I was told) the underbidder could not get additional bids in before the 10:00 p.m. EST deadline to bid and was willing to pay $40,000 for a coin delvered to him that week!! Talk about a lucky underbidder assuming he never did find that other coin!!
3. There were many 93-W 70 sales following that Teletrade sale between $15,000 - $30,000. What happened since then is simply supply has outstriped demand. 70 graded coins getting produced by PCGS quicker than collectors are joining the registry. I would happily inventory a few of them at $2,500/coin (possibly even higher). Heck, a raw one in a box in poor quality is worth about $1,600 today!! Many items are selling at their "lows" these days and this is one of them IMHO (and it could even go lower).
Wondercoin