<< <i>Why pay thousands more for a coin which "experts" can't even decide what to grade it? >>
Few collectors are expert graders and when they see a coin in a TPG slab, they take that to mean that experts at the grading service have decided what grade it is, and that is reinforced if it has a CAC sticker as well. I suspect that if you ask most collectors if they buy the coin or the holder they will say that they buy the coin and will not buy a coin that they do not like it for the assigned grade.
But collectors do not make their living grading coins and have seen only a tiny number of coins at any particular grade compared to the number of coins seen by graders and dealers. If they lack confidence in their own grading skills to recognize good coins in NGC holders, their lack of confidence may well be justified. Note that the successful cross-over rate is only around 40%.
Note that the successful cross-over rate is only around 40%.
Which includes a lot of "much easier coins to cross" such as gold, Morgans, Commems, etc. I would submit that the crossover rate for NGC 64/65 bust halves is on the order of 10-25% similar to gem 19th century silver type. And when you consider that NGC has graded about 4X as many MS65 CBH's, that would make sense.
Fwiw the photo of the 1814/3 that was on the Legend site was incredible (now gone). The auction photos linked above didn't show it to be anywhere near as nice.
I believe the winner is buried and the orignal seller gave it away. CDN Bid is $15,500 / PCGS Market Value is $29,000
I really don't see it as more than a $35,000 coin. Certainly it is PQ and better than an average quality coin but 2x market? What is this end user to end user?
People get buried in big ticket coins, then sell at auction and this is what happens (original seller).
Comments
<< <i>Why pay thousands more for a coin which "experts" can't even decide what to grade it? >>
Few collectors are expert graders and when they see a coin in a TPG slab, they take that to mean that experts at the grading service have decided what grade it is, and that is reinforced if it has a CAC sticker as well. I suspect that if you ask most collectors if they buy the coin or the holder they will say that they buy the coin and will not buy a coin that they do not like it for the assigned grade.
But collectors do not make their living grading coins and have seen only a tiny number of coins at any particular grade compared to the number of coins seen by graders and dealers. If they lack confidence in their own grading skills to recognize good coins in NGC holders, their lack of confidence may well be justified. Note that the successful cross-over rate is only around 40%.
CG
Which includes a lot of "much easier coins to cross" such as gold, Morgans, Commems, etc. I would submit that the crossover rate for NGC 64/65 bust halves is on the order of 10-25% similar to gem 19th century silver type. And when you consider that NGC has graded about 4X as many MS65 CBH's, that would make sense.
Fwiw the photo of the 1814/3 that was on the Legend site was incredible (now gone). The auction photos linked above didn't show it to be anywhere near as nice.
Games are played from the bench.
Collections are built 'round the stench.
Coin doctors can throw in a wrench.
And you know where I'd be if it weren't for that _ _ _ _ _.
I really don't see it as more than a $35,000 coin. Certainly it is PQ and better than an average quality coin but 2x market? What is this end user to end user?
People get buried in big ticket coins, then sell at auction and this is what happens (original seller).
Lance.