<< <i>Feeling a lot better about the five AU 58's that came back in my recent submission And I had been hoping for that price jump into the low MS grades on these "sliders".
These couple of threads about 58's taking moon money are both entertaining and worrysome! I don't take part in the registry, I'm just not a very competetive guy I guess.... I just like great looking coins.... and IMO, this coin just isn't that nice looking...
Each to their own I guess. >>
the sentment here seems to focus on the OP coin's (+)
did any of yours have a fortunate + added to its number? >>
Nope.... A 64 did, but none of the 58's.... No plusses- i was just extrapolating a little bit I guess...
Happy, humble, honored and proud recipient of the “You Suck” award 10/22/2014
<< <i>I guess it is no more insane than paying $1400 for a P-01 1877 Indian cent or a MS-70 Silver Eagle. To some people the registry ranking is worth the extra $$.
I think the (+) was given because of the spot. Coins that are given the (+) designation are required to trade sight-unseen on CCE. In a perverse twist, PCGS graders label coins with spots with a (+) so that they trade, because otherwise they would be rejected. >>
<< <i>This is not good advertising for PCGS since this is the new UGLY for AU58+. Either someone has a weird bucket list or offed himself while bidding and fell on to the bid key >>
Weird bucket list for sure and fell into the bid key! Ya got me laughing on that note!! Well, at least it's graded!
The bitterness of "Poor Quality" is remembered long after the sweetness of low price is forgotten.
Obviously, a poor comparison, but this auction reminds me of the nearly all white canvas modern art "paintings" (with a single spot here or there on the canvas) that sell for millions and millions of dollars. What the story with those too? LOL
Wondercoin.
Please visit my website at www.wondercoins.com and my ebay auctions under my user name www.wondercoin.com.
Here's another possible explanation. Suppose that the coin is owned by the auction house, which is bidder #5. Then the auction house can use its knowledge of the identity and bidding patterns of Bidder #6 to increase the bids.
This will drum up a whole lot submissions for iffy MS60-62 coins in the hopes they will be regraded/downgraded to AU58 or AU58+. The ones that don't + can be sent in for gold beaning. Low man on the totem pole wins. Just the opposite scenario to 2003-2008 when everything was cracked out in hopes of an upgrade. Now crackouts and regrades are being sent in the hopes of downgrades with pluse signs and gold stickers.
So how many times does that scruffy MS61 have to be sent in to finally get that coveted AU58+? Imagine being ticked off every time it comes back MS61, or heaven forbid a horrendous....MS62.
<< <i>I think the (+) was given because of the spot. Coins that are given the (+) designation are required to trade sight-unseen on CCE. In a perverse twist, PCGS graders label coins with spots with a (+) so that they trade, because otherwise they would be rejected. >>
So are you insinuating that PCGS is in cahoots with certain dealers/collectors?
I have been looking for PCGS AU 58+ coins and am willing to pay a slight premium above a 58. I did not bid on this coin. This is insane and it is an ugly coin to boot!
<< <i>So are you insinuating that PCGS is in cahoots with certain dealers/collectors?
No, I am saying the market perception of the (+) is different from the graders intention of awarding the (+). >>
Perhaps I am part of the minority majority. I was always under the impression that the + was awarded for coins that are higher end for the grade, and thus why they trade at higher prices.
Of course, you could be being facetious and I am completely missing the point.
For copper coins, I have seen some (or many) examples that are graded with a (+) that have spots or problems. There may be multiple criteria for awarding a (+), but I think making problem coins sell is one of them.
The key is that on CCE if you have a sight-seen bid, which is prudent for copper, they automatically make that bid sight-unseen for the same grade with a (+). Seems reasonable for most coins, but until you see the spotted (+) copper coins out there, it makes you less aggressive. The existence of a spotted (+)-graded coin makes you take your bids down for all coins of that grade, lest you get stuck with it.
I know I'm talking dealer shop-talk to collectors, but that is the reality.
On a AU58+ with a spot, it make little difference, but on a MS66+RD with a spot it makes a difference.
Two positives make a negative. As opposed to 2 negatives making a positive. Just edit the thread title to read: AU 58+ Indian cent sells for $1500 minus a few bucks.
Practice makes perfect & nobody is perfect. So, practice being nobody and be perfect !
Comments
<< <i>
<< <i>Feeling a lot better about the five AU 58's that came back in my recent submission
And I had been hoping for that price jump into the low MS grades on these "sliders".
These couple of threads about 58's taking moon money are both entertaining and worrysome!
I don't take part in the registry, I'm just not a very competetive guy I guess....
I just like great looking coins.... and IMO, this coin just isn't that nice looking...
Each to their own I guess. >>
the sentment here seems to focus on the OP coin's (+)
did any of yours have a fortunate + added to its number? >>
Nope....
A 64 did, but none of the 58's.... No plusses- i was just extrapolating a little bit I guess...
Happy, humble, honored and proud recipient of the “You Suck” award 10/22/2014
<< <i>I guess it is no more insane than paying $1400 for a P-01 1877 Indian cent or a MS-70 Silver Eagle. To some people the registry ranking is worth the extra $$.
I think the (+) was given because of the spot. Coins that are given the (+) designation are required to trade sight-unseen on CCE. In a perverse twist, PCGS graders label coins with spots with a (+) so that they trade, because otherwise they would be rejected. >>
This is a joke, right?
Just saying.
.....................................................
<< <i>This is not good advertising for PCGS since this is the new UGLY for AU58+. Either someone has a weird bucket list or offed himself while bidding and fell on to the bid key
Looks like a $20 coin in a 2x2.
For a large selection of U.S. Coins & Currency, visit The Reeded Edge's online webstore at the link below.
The Reeded Edge
Relieved is much more like it.
Wondercoin.
don't + can be sent in for gold beaning. Low man on the totem pole wins. Just the opposite scenario to 2003-2008 when everything was cracked out
in hopes of an upgrade. Now crackouts and regrades are being sent in the hopes of downgrades with pluse signs and gold stickers.
So how many times does that scruffy MS61 have to be sent in to finally get that coveted AU58+? Imagine being ticked off every time it comes back MS61, or
heaven forbid a horrendous....MS62.
<< <i>I think the (+) was given because of the spot. Coins that are given the (+) designation are required to trade sight-unseen on CCE. In a perverse twist, PCGS graders label coins with spots with a (+) so that they trade, because otherwise they would be rejected. >>
So are you insinuating that PCGS is in cahoots with certain dealers/collectors?
<< <i>Is that the Shroud Of Turin I see under the "O" of the date? >>
There was an image of guru rinpoche in my toast this morning but I ate it.
No, I am saying the market perception of the (+) is different from the graders intention of awarding the (+).
<< <i>So are you insinuating that PCGS is in cahoots with certain dealers/collectors?
No, I am saying the market perception of the (+) is different from the graders intention of awarding the (+). >>
Perhaps I am part of the minority majority. I was always under the impression that the + was awarded for coins that are higher end for the grade, and thus why they trade at higher prices.
Of course, you could be being facetious and I am completely missing the point.
The key is that on CCE if you have a sight-seen bid, which is prudent for copper, they automatically make that bid sight-unseen for the same grade with a (+). Seems reasonable for most coins, but until you see the spotted (+) copper coins out there, it makes you less aggressive. The existence of a spotted (+)-graded coin makes you take your bids down for all coins of that grade, lest you get stuck with it.
I know I'm talking dealer shop-talk to collectors, but that is the reality.
On a AU58+ with a spot, it make little difference, but on a MS66+RD with a spot it makes a difference.
Edited to add:
Grade 64+
Cert# 19105504
Spec# 2239
Description 1909-S 1C Indian, RB
Grade 66+
Cert# 18546432
Spec# 2231
Description 1908 1C, RD
Grade 66+
Cert# 25392814
Spec# 2216
Description 1903 1C, RD
As opposed to 2 negatives making a positive. Just edit the thread title to read:
AU 58+ Indian cent sells for $1500 minus a few bucks.
Practice makes perfect & nobody is perfect. So, practice being nobody and be perfect !
Wow, +'s being a mandatory buy on CCE. All the more of an unregulated license to print money.
l
It's not having what you want, it's wanting what you've got.
Auction