Newman coins that DIDN'T sell for a premium
habaraca
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Were there any Newman coins that didn't sell for a premium??
All I have seen so far had a premium.....
All I have seen so far had a premium.....
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A large scrape looks to be present in the fields under her chin
Link fixed!
While many people wanted to own something from this great collection of coins, some people who actually viewed the coin in hand realized what they truly were.
Here is one example
1832 h10 ngc ms65
<< <i>To be fair I did bid on this one up to around $30k just for fun! >>
careful.. A coin club member did that on Heritage last year and got a low ball winner on a coin over $20,000.. need less to say he is longer bidding up coins
rather than most of the collection!
Edited to add: I got close to winning a few coins during the live event, but I ended up missing out on everything I bid on.
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I thought certain of the circulated morgans in the sale were actually uncs including the 1889-s, the 1891-cc and the 1901-s. If bought by dealers, these coins will probably be dipped and upgraded to uncs and sold for substantial profits (and ruined for future generations!!!). >>
You are not the only one who thought they were uncirculated.
1889-S Sold for $317, Full MS-63 price.
1891-CC Sold for $411, Full MS-62 price. (I think it is AU.)
1901-S Sold for $411 as an AU-55, Full MS-60-61 price. (No chance ever that goes UNC.)
Not sure where the substantial profits are going to come from, if they become white AU coins, or low MS white coins.
<< <i>This one??? But I think it's overgraded. A large scrape looks to be present in the fields under her chin >>
The link does not work.
I hear what you are saying, but those Morgans seem to be priced as UNC already, not counting reholdering, shipping, etc.
How about the one envelope calling the coin a "Fine". This is the exact opposite of my dealers, who mark their fine coins as MS!!!
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<< <i>I looked through the Bust Half Dollar sales, and my conclusion is that they sold for STUPID money. What else can I say? >>
and I am fairly certain that that has ben said before many times over only to be proving wrong and right. I personally can't gleam anything from generalizations. I personally know one individual that won a bust half dollar and flipped it for an immediate profit because that is what he does for a living among other numismatic duties. >>
Now, how in the world does one flip a coin for such profit in such a short time? This "individual" must be some super wonder.
Stone: <<This one??? But I think it's overgraded>>
I am not sure as to the coin to which Stone is referring. As a general point, however, a coin in this sale that is overgraded, in the opinions of most experts, probably sold for a premium in most all cases. Such an 'overgraded' coin in this Newman auction would probably have sold for more than the exact same coin, hypothetically, would have brought in an auction by the same auction company in the same city, two weeks earlier, if no pedigree was known to the bidders.
In my current review, I discuss the issue of premiums for the Newman pedigree in this auction. Indeed, on this very point, John Albanese and Scott Travers are cited:
The Fabulous Eric Newman Collection, part 6: Auction Results for silver U.S. Coins
<< <i>I looked through the Bust Half Dollar sales, and my conclusion is that they sold for STUPID money. What else can I say? >>
And, honestly, I thought most of them were "generously" graded. A lot of dipped coins with some pretty color.
Mozin<< I looked through the Bust Half Dollar sales, and my conclusion is that they sold for STUPID money. What else can I say? >>
BustHalfBrian: <<And, honestly, I thought most of them were "generously" graded. A lot of dipped coins with some pretty color.>>
BustHalfBrian: <<17 years old -- Lurking and learning since 2010 >>
Part of the learning process should be, IMO, learning how to grade coins and learning to not criticize coins that you have not seen 'in hand.' Uncirculated coins cannot be graded from pictures.
Some coins were overgraded; many were accurately graded. Yes, prices were strong, though not in all cases. A few bust halves sold for moderate prices.
Rather than make generalizations about "generously" assigned grades and "stupid money," which are probably wrong in many cases, would it make more sense to ask questions about the grades of specific coins and the relative strength of specific prices?
The Fabulous Eric Newman Collection, part 6: Auction Results for silver U.S. Coins
Understanding Classic U.S. Coins and Building Excellent Coin Collections, Part 2: Dipped Coins
The Fabulous Eric Newman Coin Collection, part 3: Draped Bust Quarters