I have been outbid on the 10 lots I was after. I used PCGS price guide as my high limit, I was not even close. I realized on the bourse of the FUN show, that I can find just as nice coins there and pay less money for them.
It was a great show and today I just was dropping coins off for Todd to image for me.
Funny you should mention that. When the Steelers-Broncos game kicks off on Sunday, I will be at my son's fourth basketball game of the weekend. >>
Wow...how far does a father's love go! lol. Not to be to OT but I thought of you last night when Primanti Brothers was featured on Man v. Food. Thought I would get to enjoy one of those after a Steeler home playoff game this year but no such luck.
I doubt many will drift down to page 3 of this thread . . . . .but FWIW:
I have just bid in the past on the Heritage Doilies and of course this time there was a Trade Dollar. Cool coin, unique in a Doily (thus far, as always), and listed at $4500 in the PCGS Price Guide, which I usually feel is around 20-30% high for most coins I deal with.
Wow . . . . . $8625.00. Not quite double PCGS Guide, and I'll guarantee you it wasn't because it was a Doily. On those more esoteric coins it is one major factor . . . upgrade potential. I would basically guarantee that that coin will exist in a Doily for around 2 minutes and 17 seconds after it hits the doorstep of the new owner, and will be repackaged for PCGS within 13 minutes. That coin goes around $12k in 65.
I would have loved to save it since I would save it in the Doily . . .but not at a $4100 premium. I'll guarantee you it WASN'T a $4100 Doily Premium.
I bid my max bids on 10 Mercs and have been outbid on 8. Slowly throughout the day, the emails have been coming in saying that I have been outbid. Now there are only 2 left. I will probably loose these two come live auction, or be sniped at Midnight.
Alright, I lost. My single bid that I placed matched the highest "anomaly" price paid for the same coin and it was blasted away. For the record, the price was about 40% higher than coins in the same grade sell for.
-D
"It is the mark of an educated mind to be able to entertain a thought without accepting it."
-Aristotle
Dum loquimur fugerit invida aetas. Carpe diem quam minimum credula postero.
I'd rather not win an auction coin than get buried in it. Buying a nice coin for full retail is not difficult to do for those of us who aren't in the same league as TDN, Stewart Blay, et al.
In my forty years of collecting, only ONE coin I've ever seen "had my name on it." I waited eight years before getting an AU Bust $ which met my standards at a price I thought was reasonable.
If someone is willing to pay more than I am for a particular coin that interests me, I can wait. Remember this - chances are that if you are not an elite collector, that $5,000 coin you just bought, you can resell for $4,250, if you're lucky.
"Vou invadir o Nordeste, "Seu cabra da peste, "Sou Mangueira......."
I won the one coin I bid on for $300 less than my max bid. I honestly figured I'd be blown out but I couldn't afford to bid any higher so I took a shot.
I lost the 1 coin I really wanted by about $3k + juice.
While sad, I'm not disappointed. It's not a coin I wanted to chase, and while this date doesn't generally appear in nice VF/EF grade, I still wanted to give it a shot. On top of this I don't really have the cash to pay for this coin even at my apparently modest max bid!
Still have a couple coins left...keeping the old fingers crossed
My "agent" was the underbidder on a coin last night - even lost it after doing what I thought was a stretch!
"My friends who see my collection sometimes ask what something costs. I tell them and they are in awe at my stupidity." (Baccaruda, 12/03).I find it hard to believe that he (Trump) rushed to some hotel to meet girls of loose morals, although ours are undoubtedly the best in the world. (Putin 1/17) Gone but not forgotten. IGWT, Speedy, Bear, BigE, HokieFore, John Burns, Russ, TahoeDale, Dahlonega, Astrorat, Stewart Blay, Oldhoopster, Broadstruck, Ricko, Big Moose, Cardinal.
AND, the worst part was, I passed on alot of nice coins as the biggie was at the very end of Platinum night 2.
"My friends who see my collection sometimes ask what something costs. I tell them and they are in awe at my stupidity." (Baccaruda, 12/03).I find it hard to believe that he (Trump) rushed to some hotel to meet girls of loose morals, although ours are undoubtedly the best in the world. (Putin 1/17) Gone but not forgotten. IGWT, Speedy, Bear, BigE, HokieFore, John Burns, Russ, TahoeDale, Dahlonega, Astrorat, Stewart Blay, Oldhoopster, Broadstruck, Ricko, Big Moose, Cardinal.
Just lost out on a seated dime I've been looking for, for my type set. There were two available in the auction, same grade, same holder. The first one went for $1800 and was the lesser quality of the two, which is about what I'd expect. The second one, which I think has a tiny chance of being upgraded, went for $2800. Going rate is about $2k for nice ones. Yikes.
Oh well, still have a few small ones left, but now I probably won't meet the CA tax threshold so tack on another 10%.
Most of the dealers in the room have been mentioning getting destroyed...not in their bids, but in their consignments. Seems like a lot of unreserved coins are slipping through the cracks.
On the other hand, I've spent quite a bit in the sale!
I was following 2 coins. the first I had an agent look at for me and it was okay, but not worth chasing. The price was already to high 3 days to go, so I let it go from the get go.
The second coin , I was attempting to go for the upgrade, I had two individuals look at it down there for me, both liked it, but not overly excited about it, but a decent piece considering the scarcity. I traced the coin back where it was purchased by the consignor in 2010. I have one in Au-50 , this one was a 55. It was originally holdered in an NGC-55, then apparently crossed to PCGS as a 55. Anyway, I chased it higher than I really wanted to pay right before the end of the internet bidding portion closed, only to be beat out the next morning by a mail or fax bid. I contemplated all day to bid higher at the actual auction, but when the lot came up, I passed. I decided it was way to high at this point, and I would only be buried in the coin at this level and was not worth it to bid any longer.
Now the next day, i am glad I passed for the reason stated. it sold for nearly 2x what it sold for in 2010 this time around.
I am watching Heritage Live, live, and have a few observations:
1. Southern gold coins are going pretty strong. Patterns with reserves were awful--very few sold. 2. Mike Sadler is an entertaining auctioneer, much better than the previous guy, who was not dynamic enough for me to stay interested. 3. There is very little floor activity, and I get the sense that the intended audience has shifted from the folks in the room to the folks in cyberspace. 4. PCGS selling for more than NGC; CAC for more than naked slabs.
<< <i>I am watching Heritage Live, live, and have a few observations:
1. Southern gold coins are going pretty strong. Patterns with reserves were awful--very few sold. 2. Mike Sadler is an entertaining auctioneer, much better than the previous guy, who was not dynamic enough for me to stay interested. 3. There is very little floor activity, and I get the sense that the intended audience has shifted from the folks in the room to the folks in cyberspace. 4. PCGS selling for more than NGC; CAC for more than naked slabs. >>
I agree with everything except the word folks. I was outbid on the one coin I wanted to purchase but funny enough two others in higher grade NGC holders brought the same as the PCGS MS64. By the same, I mean to the exact dollar.
-D
"It is the mark of an educated mind to be able to entertain a thought without accepting it."
-Aristotle
Dum loquimur fugerit invida aetas. Carpe diem quam minimum credula postero.
I won (2) out of about 50. A $3 civil war gold and a draped bust dollar.....wasn't worth the effort. I'd of been better off sitting out by the pool instead of my computer. I will be heading down to the Tuscon coin show. It will be my 1st time down there.
Well, I bid strong enough to bury myself in one coin but ended up being the underbidder. So, I guess I came out ahead.. or would that be the first looser
<< <i>The bidiots from ebay must be migrating to other auctions.
Anyone notice the high prices being asked for coins there lately? >>
I can find some coins recently sold at Heritage now offered at ebay as BIN opportunities. 50% markups are not unusual over actual Heritage prices paid (including the juice).
Asking and getting are two different matters however.
I have a theory... The higher prices may be partly a result of new-to-the-market investor types who are tired of losing their shirts on the dollar and the Dow, much less on bank accounts that bear no interest...and are entering not only bullion but also the rare coin market as an attempt at capital preservation. Just throwing that out there for consideration.
<< <i>I have a theory... The higher prices may be partly a result of new-to-the-market investor types who are tired of losing their shirts on the dollar and the Dow, much less on bank accounts that bear no interest...and are entering not only bullion but also the rare coin market as an attempt at capital preservation. Just throwing that out there for consideration. >>
I hear that argument, often, but I do not buy it.
Some dude tired of a choppy stock market is going to enter the coin market and outbid my already ridiculously high bid for a OGH/CAC dirty CC $20? Not likely.
In fact, an area where I expect investors to tread, generic high-grade Liberty $10's, did rather poorly last night.
<< <i>I have a theory... The higher prices may be partly a result of new-to-the-market investor types who are tired of losing their shirts on the dollar and the Dow, much less on bank accounts that bear no interest...and are entering not only bullion but also the rare coin market as an attempt at capital preservation. Just throwing that out there for consideration. >>
If that theory is true (which I doubt), who do those buyers sell to when it is time to get out? Losers tend have losing habits, such as chasing performance and buying on emotion. Those habits are hard to break. Folks that they lost their shirt in the dollar and the Dow, will likely lose their shirts in coins too. It is unfortunate, but changing investment arenas rarely turns a loser into a winner.
I doubt the theory, because most are saying it was nice coins that went for strong money. Investor oriented types (vs. numismatic types) tend to know little about grading, and even less about quality for a given grade. Investors might understand rare, and bid strong for ultra rare headline coins, or even condition rarities, but that doesn't seem to be what happened in this auction.
Comments
<< <i>
<< <i>Okay, I am rallying again.
Save some strength for the game on Sunday
btw, I am 0/4 so far >>
Funny you should mention that. When the Steelers-Broncos game kicks off on Sunday, I will be at my son's fourth basketball game of the weekend.
It was a great show and today I just was dropping coins off for Todd to image for me.
Gary
<< <i>
<< <i>
<< <i>Okay, I am rallying again.
Save some strength for the game on Sunday
btw, I am 0/4 so far >>
Funny you should mention that. When the Steelers-Broncos game kicks off on Sunday, I will be at my son's fourth basketball game of the weekend.
Wow...how far does a father's love go! lol. Not to be to OT but I thought of you last night when Primanti Brothers was featured on Man v. Food. Thought I would get to enjoy one of those after a Steeler home playoff game this year but no such luck.
I have just bid in the past on the Heritage Doilies and of course this time there was a Trade Dollar. Cool coin, unique in a Doily (thus far, as always), and listed at $4500 in the PCGS Price Guide, which I usually feel is around 20-30% high for most coins I deal with.
Wow . . . . . $8625.00. Not quite double PCGS Guide, and I'll guarantee you it wasn't because it was a Doily. On those more esoteric coins it is one major factor . . . upgrade potential. I would basically guarantee that that coin will exist in a Doily for around 2 minutes and 17 seconds after it hits the doorstep of the new owner, and will be repackaged for PCGS within 13 minutes. That coin goes around $12k in 65.
I would have loved to save it since I would save it in the Doily . . .but not at a $4100 premium. I'll guarantee you it WASN'T a $4100 Doily Premium.
Drunner
-D
-Aristotle
Dum loquimur fugerit invida aetas. Carpe diem quam minimum credula postero.
-Horace
In my forty years of collecting, only ONE coin I've ever seen "had my name on it." I waited eight years before getting an AU Bust $ which met my standards at a price I thought was reasonable.
If someone is willing to pay more than I am for a particular coin that interests me, I can wait. Remember this - chances are that if you are not an elite collector, that $5,000 coin you just bought, you can resell for $4,250, if you're lucky.
"Seu cabra da peste,
"Sou Mangueira......."
JH
Proof Buffalo Registry Set
Capped Bust Quarters Registry Set
Proof Walking Liberty Halves Registry Set
While sad, I'm not disappointed. It's not a coin I wanted to chase, and while this
date doesn't generally appear in nice VF/EF grade, I still wanted to give it a shot.
On top of this I don't really have the cash to pay for this coin even at my apparently
modest max bid!
Still have a couple coins left...keeping the old fingers crossed
Oh well, still have a few small ones left, but now I probably won't meet the CA tax threshold so tack on another 10%.
Seems like a lot of unreserved coins are slipping through the cracks.
On the other hand, I've spent quite a bit in the sale!
The second coin , I was attempting to go for the upgrade, I had two individuals look at it down there for me, both liked it, but not overly excited about it, but a decent piece considering the scarcity. I traced the coin back where it was purchased by the consignor in 2010. I have one in Au-50 , this one was a 55. It was originally holdered in an NGC-55, then apparently crossed to PCGS as a 55.
Anyway, I chased it higher than I really wanted to pay right before the end of the internet bidding portion closed, only to be beat out the next morning by a mail or fax bid. I contemplated all day to bid higher at the actual auction, but when the lot came up, I passed. I decided it was way to high at this point, and I would only be buried in the coin at this level and was not worth it to bid any longer.
Now the next day, i am glad I passed for the reason stated. it sold for nearly 2x what it sold for in 2010 this time around.
1. Southern gold coins are going pretty strong. Patterns with reserves were awful--very few sold.
2. Mike Sadler is an entertaining auctioneer, much better than the previous guy, who was not dynamic enough for me to stay interested.
3. There is very little floor activity, and I get the sense that the intended audience has shifted from the folks in the room to the folks in cyberspace.
4. PCGS selling for more than NGC; CAC for more than naked slabs.
<< <i>I am watching Heritage Live, live, and have a few observations:
1. Southern gold coins are going pretty strong. Patterns with reserves were awful--very few sold.
2. Mike Sadler is an entertaining auctioneer, much better than the previous guy, who was not dynamic enough for me to stay interested.
3. There is very little floor activity, and I get the sense that the intended audience has shifted from the folks in the room to the folks in cyberspace.
4. PCGS selling for more than NGC; CAC for more than naked slabs. >>
I agree with everything except the word folks. I was outbid on the one coin I wanted to purchase but funny enough two others in higher grade NGC holders brought the same as the PCGS MS64. By the same, I mean to the exact dollar.
-D
-Aristotle
Dum loquimur fugerit invida aetas. Carpe diem quam minimum credula postero.
-Horace
https://www.pcgs.com/setregistry/gold/liberty-head-2-1-gold-major-sets/liberty-head-2-1-gold-basic-set-circulation-strikes-1840-1907-cac/alltimeset/268163
<< <i>I won tonight on the one coin I had bid on. I paid less than my maximum bid, about one-third more than the PCGS price guide. >>
Well, out with it!
<< <i>
<< <i>I won tonight on the one coin I had bid on. I paid less than my maximum bid, about one-third more than the PCGS price guide. >>
Well, out with it! >>
Here it is, it finishes my 1859-1861 run of old reverses.
https://www.pcgs.com/setregistry/gold/liberty-head-2-1-gold-major-sets/liberty-head-2-1-gold-basic-set-circulation-strikes-1840-1907-cac/alltimeset/268163
I will be heading down to the Tuscon coin show. It will be my 1st time down there.
PCGS Registries
Box of 20
SeaEagleCoins: 11/14/54-4/5/12. Miss you Larry!
'dude
Anyone notice the high prices being asked for coins there lately?
Whoever is careless with the truth in small matters cannot be trusted with important matters.
Looks like my "strong" bids weren't strong enough.
Mike
RYK rule #7 says that the next great coin opportunity is always just around the corner.
<< <i>The bidiots from ebay must be migrating to other auctions.
Anyone notice the high prices being asked for coins there lately? >>
I can find some coins recently sold at Heritage now offered at ebay as BIN opportunities. 50% markups are not unusual over actual Heritage prices paid (including the juice).
Asking and getting are two different matters however.
https://www.pcgs.com/setregistry/gold/liberty-head-2-1-gold-major-sets/liberty-head-2-1-gold-basic-set-circulation-strikes-1840-1907-cac/alltimeset/268163
The higher prices may be partly a result of new-to-the-market investor types who are tired of losing their shirts on the dollar and the Dow, much less on bank accounts that bear no interest...and are entering not only bullion but also the rare coin market as an attempt at capital preservation. Just throwing that out there for consideration.
RIP Mom- 1932-2012
<< <i>I have a theory...
The higher prices may be partly a result of new-to-the-market investor types who are tired of losing their shirts on the dollar and the Dow, much less on bank accounts that bear no interest...and are entering not only bullion but also the rare coin market as an attempt at capital preservation. Just throwing that out there for consideration. >>
I hear that argument, often, but I do not buy it.
Some dude tired of a choppy stock market is going to enter the coin market and outbid my already ridiculously high bid for a OGH/CAC dirty CC $20? Not likely.
In fact, an area where I expect investors to tread, generic high-grade Liberty $10's, did rather poorly last night.
<< <i>I have a theory...
The higher prices may be partly a result of new-to-the-market investor types who are tired of losing their shirts on the dollar and the Dow, much less on bank accounts that bear no interest...and are entering not only bullion but also the rare coin market as an attempt at capital preservation. Just throwing that out there for consideration. >>
If that theory is true (which I doubt), who do those buyers sell to when it is time to get out? Losers tend have losing habits, such as chasing performance and buying on emotion. Those habits are hard to break. Folks that they lost their shirt in the dollar and the Dow, will likely lose their shirts in coins too. It is unfortunate, but changing investment arenas rarely turns a loser into a winner.
I doubt the theory, because most are saying it was nice coins that went for strong money. Investor oriented types (vs. numismatic types) tend to know little about grading, and even less about quality for a given grade. Investors might understand rare, and bid strong for ultra rare headline coins, or even condition rarities, but that doesn't seem to be what happened in this auction.