Big price rebound for 1911 MPL in PCGS PR65BN

BWRC

One month ago a PCGS specimen sells for $1,035 in the January Heritage FUN show auction. Posters were talking about "red" in the PCGS price guide and this date and grade was one of the dates hit with downward price guide movement.

Then, a few days ago in the Heritage Long Beach show auction the same date grade and holder sells for $2,012! The PCGS price guide is at $1,400.
What does Jaime at PCGS due now?

Comments?

illini420

For coins that aren't pop 1 or 2, I don't think the price guide should be changing for every example that sells. I mean, the $1400 guide price seems to be fairly accurate if the $1035 coin was a dog and the $2012 example was super PQ. I haven't really looked at either of these coins though.

curly

I doubt that the price guide will change much on the sale of one coin but it does serve as an example that there is a range of eye appeal in each grade. High end coins are still commanding good prices.

BWRC

<< <i>For coins that aren't pop 1 or 2, I don't think the price guide should be changing for every example that sells. I mean, the $1400 guide price seems to be fairly accurate if the $1035 coin was a dog and the $2012 example was super PQ. I haven't really looked at either of these coins though. >>



I agree with what you have said, I have an advantage in this story because I have owned both of these coins. What I am showing here is that we not panic just because a MPL cent sells cheaply. There is usually a reason for it and in this case LQ vs PQ is what brought us these results.

QBert

Tempory at best - The price rebound is base on artificial confidence. If the market goes down , so will the confience people have to spend thier money. IMO

WaterSport

High end MPLs make their own values. The price guide was being lifted and now lowered mostly by mid and lower graded specimens that tend to sell close to market trends. Thus a PR 63 R&B, has a narrow price range (and narrower eye appeal) than higher end coins. Plus the demand was driving up ALL MPL's, which I do not see happening now. Either the economy, lack of collector interest now that 2009 has passed or both is not feeding the frenzy we once saw.

WS