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Heritage October 2012 Dallas Auctions - Plastic is on fire!

orevilleoreville Posts: 12,130 ✭✭✭✭✭
I have noticed that the current Heritage Dallas auctions are showing at least one super hot results.

Plastic is extremely hot.

the 1942 Brown plastic J-2060 pattern in NGC MS-64 sold for $16,450!

Roger Burdette's book has not even been completed so he can not be blamed for this result.

I was blown out of the water as I needed this piece to complete my grading set. I will now have to depend on my raw J-2060 I bought from Andy Lustig a couple of years back to grade out as MS-64.

This Price is more than double previous NGC or PCGS MS-65 prices realized at auction. It also sold for more than double the NGC MS-66 I purchased a few years back.

It has one big thing going for it. It has the rarer block lettering on the reverse as opposed to the more common pointy lettering on e reverse. This will be part of a new and rarer pattern variety.
A Collectors Universe poster since 1997!

Comments

  • orevilleoreville Posts: 12,130 ✭✭✭✭✭
    There were 10 bidders and 17 members tracking that lot! That is a very large group of observers.

    I dropped out at $10,000 as my wife threatened retaliation if I bid more!

    image
    A Collectors Universe poster since 1997!
  • wondercoinwondercoin Posts: 16,991 ✭✭✭✭✭
    Interesting ...

    I saw other areas of the market that were weaker as well.

    I'll send you a PM.

    Wondercoin

    Please visit my website at www.wondercoins.com and my ebay auctions under my user name www.wondercoin.com.
  • It has one big thing going for it. It has the rarer block lettering on the reverse as opposed to the more common pointy lettering on e reverse.

    Can you explain the difference? Do you have pictures?
  • orevilleoreville Posts: 12,130 ✭✭✭✭✭
    Mark Ben!

    It would not be fair to Roger for me to publicly disclose that at this time until his book comes out.




    A Collectors Universe poster since 1997!
  • Everything I bid on went out of my price range image
  • AnalystAnalyst Posts: 1,438 ✭✭✭
    CoinerWW2: <<Everything I bid on went out of my price range >>

    What kinds of things did you bid on?


    Oreville: <<Plastic is extremely hot. - The 1942 Brown plastic J-2060 pattern in NGC MS-64 sold for $16,450!>>

    ‭Although this auction did fare well, I hope that the readers of this thread realize that it does not makes sense to draw a conclusion about a whole auction, or even about the market values of one small category of items, as a consequence of single very strong result. I am almost sure that Oreville would agree. Two bidders could have shown a whimsical interest in this item. It is plausible that one or both of them will never again bid on a similar item.

    ‭I hope that people read about other items in this same auction:

    First Part of Greensboro Collection Sells in Dallas

    Two 1822 Dimes in this auction

    ‭Also, it is often a good idea to consider:

    What are Auction Prices?


    insightful10 gmail
    "In order to understand the scarce coins that you own or see, you must learn about coins that you cannot afford." -Me
  • There was a collection in this sale that had items in a series I was contemplating. It was easy to chase every coin down and figure out how it did. 44 coins purchased at $145k and they realized $86k. I really hope the seller had the coupons so they didn't have to pay sellers fees too. I felt bad for whoever it was because that is horrible.

    Overall the prices seemed very down.
  • bidaskbidask Posts: 14,019 ✭✭✭✭✭
    I know nothing about what your talking about and you certainly seem to know alot........

    But I was also struck that you noted 'pattern varieties'.....that almost seems like an oxymoron.


    I manage money. I earn money. I save money .
    I give away money. I collect money.
    I don’t love money . I do love the Lord God.




  • orevilleoreville Posts: 12,130 ✭✭✭✭✭


    << <i>Oreville: <<Plastic is extremely hot. - The 1942 Brown plastic J-2060 pattern in NGC MS-64 sold for $16,450!>>

    ‭Although this auction did fare well, I hope that the readers of this thread realize that it does not makes sense to draw a conclusion about a whole auction, or even about the market values of one small category of items, as a consequence of single very strong result. I am almost sure that Oreville would agree. Two bidders could have shown a whimsical interest in this item. It is plausible that one or both of them will never again bid on a similar item. >>



    Not only do I agree, I was being tongue in cheek and was in fact, being sarcastic because I was pissed that I LOST that auction!

    I can't believe no one picked that up my sarcasm before!
    A Collectors Universe poster since 1997!
  • AnalystAnalyst Posts: 1,438 ✭✭✭
    Oreville: <<I can't believe no one picked that up my sarcasm before!>>

    ‭I like your sarcasm and I like your original post. It is true, however, that some readers tend to take most posts literally.

    ‭During the trial relating to the Switt-Langbord 1933 Double Eagles, the judge seems to have taken RWB’s posts to this forum literally, even in cases when it would seem apparent to most of us that RWB was being sarcastic and humorous. IMO, it was unfair to the Switt-Langbord family and to RWB for the judge in that trial to allow the attorneys for the Treasury Department to represent remarks that were apparent jokes as literal statements.

    BidAsk: <<But I was also struck that you noted 'pattern varieties'.....that almost seems like an oxymoron.>>

    ‭There are three categories of relatively minor varieties of patterns, which are important in that many collectors will seek just one in each category rather than all of them: 1) When the same pair of dies is used strike pieces in the same alloy with different edge formats, collectors will usually be satisifed with a plain edge piece or a reeded edge piece and not thus not seek both. 2) When the same pair of dies that was not used to strike regular business strikes or Proofs is used to strike pieces in different metals or alloys, collectors will sometimes, not always, be satisfied with a piece in just one metal, especially if pieces, struck with the same pair of dies, in other metals are not obtainable.

    ‭3) When two patterns are almost identical except for some very small differences, each is a minor variety. Oreville is referring to a pattern in this third category. For such a piece, most pattern collectors would not regard the difference between block lettering and pointy lettering to be of great importance and would thus be happy to own a single pattern of this kind with either. I, too, am surprised by the price realized.

    DeliaBug: <<Overall the prices seemed very down. >>

    ‭The auction prices were NOT very down. I analyzed the results of the first part of the Greensboro Collection, which was the most important consignment to this event. Moreover, in a separate article, I discuss an 1822 dime, 79k for which is not low. It is not logical for DeliaBug to publicly draw conclusions about a whole auction based on the results for one collection in one category, which he does not even mention. There are an array of variables that may pertain to that one category, whatever it is, or especially to this one collection.
    First Part of Greensboro Collection Sells in Dallas

    Two 1822 Dimes in this auction

    ‭Please consider that it may be a good idea to read:

    What are Auction Prices?


    "In order to understand the scarce coins that you own or see, you must learn about coins that you cannot afford." -Me
  • bidaskbidask Posts: 14,019 ✭✭✭✭✭


    << <i>‭Oreville: <<I can't believe no one picked that up my sarcasm before!>>

    ‭I like your sarcasm and I like your original post. It is true, however, that some readers tend to take most posts literally.

    ‭During the trial relating to the Switt-Langbord 1933 Double Eagles, the judge seems to have taken RWB’s posts to this forum literally, even in cases when it would seem apparent to most of us that RWB was being sarcastic and humorous. IMO, it was unfair to the Switt-Langbord family and to RWB for the judge in that trial to allow the attorneys for the Treasury Department to represent remarks that were apparent jokes as literal statements.

    BidAsk: <<But I was also struck that you noted 'pattern varieties'.....that almost seems like an oxymoron.>>

    ‭There are three categories of relatively minor varieties of patterns, which are important in that many collectors will seek just one in each category rather than all of them: 1) When the same pair of dies is used strike pieces in the same alloy with different edge formats, collectors will usually be satisifed with a plain edge piece or a reeded edge piece and not thus not seek both. 2) When the same pair of dies that was not used to strike regular business strikes or Proofs is used to strike pieces in different metals or alloys, collectors will sometimes, not always, be satisfied with a piece in just one metal, especially if pieces, struck with the same pair of dies, in other metals are not obtainable.

    ‭3) When two patterns are almost identical except for some very small differences, each is a minor variety. Oreville is referring to a pattern in this third category. For such a piece, most pattern collectors would not regard the difference between block lettering and pointy lettering to be of great importance and would thus be happy to own a single pattern of this kind with either. I, too, am surprised by the price realized.

    DeliaBug: <<Overall the prices seemed very down. >>

    ‭The auction prices were NOT very down. I analyzed the results of the first part of the Greensboro Collection, which was the most important consignment to this event. Moreover, in a separate article, I discuss an 1822 dime, 79k for which is not low. It is not logical for DeliaBug to publicly draw conclusions about a whole auction based on the results for one collection in one category, which he does not even mention. There are an array of variables that may pertain to that one category, whatever it is, or especially to this one collection.
    First Part of Greensboro Collection Sells in Dallas

    Two 1822 Dimes in this auction

    ‭Please consider that it may be a good idea to read:

    What are Auction Prices? >>

    Analyst, thank you for explaining the minor varieties of patterns.
    I manage money. I earn money. I save money .
    I give away money. I collect money.
    I don’t love money . I do love the Lord God.




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