Can there be a 5 times difference in the value of an 1823 CBH in MS 64?

TahoeDale

Sure there can. And this was demonstrated last week in the LB Heritage sale.

An NGC 64, O.106a R.2 hammered at $2900, and a PCGS 64 CAC at $15,000.

For historical purposes, PCGS shows the range for reported MS 64 1823's( PC and NGC) to be 2875 to 5460, before this sale.
What could have caused 2 R.2 halves to be so different? They were both toned nicely, had few hits, and similar rarity.

Was the 15k coin misattributed? and a higher rarity? I don't think so.

Was the 15K coin a lock upgrade? Well, it was not gold CAC. But even if it upgrades, that would make it the 5th 65.

Was it finest known for the Overton rarity? No , but possibly tied for finest.

Conclusion: There can be a wide range for pricing of CBH's( and many other series). Auction results need to be analyzed before deciding on value.

RichieURich

Absolutely. And there are some series where there is a 30 times difference. Compare an average MS-65 Morgan with one of the wild toners. An 1881-S in MS-65 is $165 in the PCGS Price Guide, some toners have sold for $5,000 which is 30x the $165 amount.

So why is everyone surprised when it a Capped Bust half sells at 5x, when no one bats an eyelash when a Morgan sells at 30x?

TahoeDale

Rich,

I think another thread indicated the surprise for the final price of the 1823 CBH, perhaps because it is unusual. Where Morgans and commems have had this large multiple for nicely toned examples for years, the CBH series has seldom seen this event.
As noted previously, the spread for the date and grade was 2 to 5k. Now a coin sells for 17, 625.

It may not be only the toning, as many CBH's are more colorful than this 1823, and have not achieved such pricing.

RYK

I think that your example in the OP why it can be very misleading to look at the last auction result or two to establish the price or value of your coin of the same date/grade. I see errors in this area all of the time, comparing a coin for sale with the last auction that is an OGH if a lock upgrade or a shipwreck coin or a CAC gold sticker coin or an unusually and attractively toned coin or...you get the idea.

RichieURich

Obviously two bidders both liked this coin a lot!

I recently bid $6,750 (plus the juice) for an MS-63 Bust half common date and common variety and lost it to a higher bidder! So higher prices for really nice Bust halves aren't unusual.

I recently sold an AU-58 Bust half common date and common variety for $4,000. As you might guess, it was an extraordinarily attractive coin.

TahoeDale

I agree that it happens-- I personally paid HLRC $5000 for an AU 58 common date in a rattler.

Okay, that's 2. Any more?

Type2

Was it the 2nd coin to sell at auction with no more in stock? More collectors came in after the 1st shot off, That drives prices up as well,

lava

Rich,

What date was your 58?

I have been the under-bidder on some of the special pieces, and I admit that my thinking on value is not scientific. On one coin in particular, a commemorative (a series I don't even collect) I think I made the last 2 bids just out of curiosity to see if it could go higher. It did.

TwoSides2aCoin

If I say yes, I will get an argument
If I say no, I will be disproved.
Am starting to think it's better to quit posting. Would you make polls so I can just lurk and vote ?
Edit to add: Never underestimate the power of sentimental value

RichieURich

<< <i>Rich,

What date was your 58?

I have been the under-bidder on some of the special pieces, and I admit that my thinking on value is not scientific. On one coin in particular, a commemorative (a series I don't even collect) I think I made the last 2 bids just out of curiosity to see if it could go higher. It did. >>



Here is the 58. Colors on the coin were a bit brighter than the pix. I call it "The Halo Coin", and the customer loves the coin:

lava

I recently paid $4k for a 58 CBH, but not the one posted by Rich.

scoobydeux

I paid about 2.5x list for this lady:



And about 1.5x list for this one:



Been happy as a clam with both decisions

Patches

1808 Bustie

tradedollarnut

Isn't that 1824 from the connoisseur collection?

TahoeDale

Scoobydeux,

You got the 1808 cheap--that is a wow coin! As for the 1824/various, maybe a little too much. Want to sell it??

tradedollarnut

Yup - ex Stacks

roadrunner

<< <i>Isn't that 1824 from the connoisseur collection? >>




Wasn't that coin bought by Legend for a client? I seem to recall it being written up in one of their market reports. Hard to forget a $19K MS64.

tradedollarnut

Actually, I bought it. I was dabbling in CBHs at the time. Didn't ignite my passion though so I moved on...

scoobydeux

Dale,

Ha Ha! That depends on the offer...

scoobydeux

TDN,

One man's passion is another man's road kill.