You'll never guess what was sold at my coin club auction the other night

RedneckHB

My coin club meets once a month and has about 60 members that meet regularly. The auctions are typical--modern mint stuff, problem type, bullion, ect. Most items sell for under $20 with maybe one coin selling for over $100.

Well, this month, sitting on the auction table in a green tag PCGS holder with a grade of VF35 was a 1921 Canada 5c silver. The coin was placed there by a new member with a $50 starting price. Of course red flags go up so I didnt bid, but the coin cert number did verify and it sold for $2000. My grade on the coin was closer to 15-20 and borderline MA as it appeared cleaned, but these holders are known to hold overgraded coins.

I wish I had taken a picture of it.

I wonder what this "new member" will bring in next month, if he even shows up again.

1960NYGiants

Wow. Less than 25% of catalogue. Something isn't right. I hope the buyer doesn't get burned.

Gazza

Or the seller burnt

DoubleEagle59

There's a huge difference between US and Canadian grading companies for circulated older Canadian coins.

I'm not implying one is better than the other, just that they obviously must have two totally different grading 'handbooks'.

ColinCMR

let us know of the fallout if you hear anything!

7Jaguars

Ouch, was that cash on the barrel-head?

RedneckHB

I would guess if the coin and holder are the real deal and its placed in a big auction that it probably sells for 6-8K. Keep your eyes open on the dealer websites or auction houses. Wouldnt be surprised to see it pop up somewhere soon.