Originally posted by: privaterarecoincollector I am one of the collectors who bought some of the Pogue coins in each sale 1, 2 and 3 while building a longterm coin collection.
I spend my own money and its not for investment, its for collecting. And its one thing to say this coin is worth 2 Million USD and its another thing to actually put the money on the table and buy the coin. And to have the money, over a period of 5! Pogue sales.
Im collecting US coins since more than 20 years now and while prices increased and also sometimes decreased during this time, there was mostly more money than coins. Now there are more coins than money. Thats why some of the coins sell cheap.
I also see that coins I am not bidding on sell cheaper than coins I am bidding on. I know for a matter of fact, if I would have bid on the Chain Cent 65 RB, it would have brought at least 2 Mio USD. There also was third collector who would have brought the 65 RB Chain Cent to 2 Mio, if he would not have bought another great Chain cent just a week ago for full price. I brought the 1794 PCGS 67 half Cent from 600k hammer to 800k (and ended up buying it) and then the 1794 half cent in 66 RB sold cheap for around 230k. Im sure if I had not bid on the 1794 PCGS 67 and on the 66 instead, it would just be the other way around.
What does it mean ? Does it mean the Chain Cent in 65 RB is worth 1 Mio USD ? I dont think so. The truth is, I could not have bough the 65 RB Chain Cent below 2 Mio USD, thats just how it is. Nobody could have bought this coin below 2 Mio USD, other than the one who got it for 1 Mil.
Regarding the discussion about coin quality, I think at the end of the day everybody must have his own opinion when he is spending his own money. You need to have thoughts why you buy a certain coin and pass on another one.
e.g. I was very agressive on the Pogue 1796 25 Cent because for me it was the finest I have ever seen, potentially better looking than the PCGS 67. I still graded the coin a 66. But I also graded the Newman NGC 67 a no grade cleaned and while this coin brought the same price (1.5 Mio USD), I didnt like it.
So I think its really fair if everybody has his own opinion and thats good. I just dont like when people say coins have changed over time when its not really true. I bough the 1796 half cent in 67 RB and I do not think the coin has changed since Eliasberg. It sold cheap the same like the Chain Cent in 65 RB sold cheap.
I think I have done well so far by trusting PCGS, CAC, my trusted dealer and agent plus my own eye and taste and my wives taste. We all make mistakes, but if I put them all together, its very few coins that are left to fit our high quality standards.
And I enjoy reading Gregs reports also if I do not agree always on what he writes. I hope he will write more.
Welcome aboard. Super duper first post. And congrats too. I like collecting and admiring the best of the best. You keep the dreamer in me alive. The NAME alone (Pogue) kept me from even attempting a bid. Wonderful introduction to the thousands of collectors who may never get the chance to meet and greet here. I sure hope they do.
I'm happy for you, especially. Perfect Storm. P.S. "cheap" is a relative term.
The truth is, I could not have bought the 65 RB Chain Cent below 2 Mio USD, that's just how it is. Nobody could have bought this coin below 2 Mio USD, other than the one who got it for 1 Mil.
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I think I have done well so far by trusting PCGS, CAC, my trusted dealer and agent plus my own eye and taste and my wives taste. We all make mistakes, but if I put them all together, its very few coins that are left to fit our high quality standards.
Originally posted by: roadrunner 2 important points from PRC that bear repeating.
I think I have done well so far by trusting PCGS, CAC, my trusted dealer and agent plus my own eye and taste and my wives taste. We all make mistakes, but if I put them all together, its very few coins that are left to fit our high quality standards.
Welcome to the CU Forums.
Interesting. How many wives do you have? Are you from Utah?
Sorry, couldn't help it. And plus one on the welcome.
"The truth is, I could not have bough the 65 RB Chain Cent below 2 Mio USD, thats just how it is. Nobody could have bought this coin below 2 Mio USD, other than the one who got it for 1 Mil."
Welcome to the boards. A simple (and sincere) question ...
How do you know you could not have bought the coin for under $2M unless and until you seriously tried to win it?
I once bid for a customer $1.15M against a bid of $1.1M on the finest known 94-S dime we were told we had little or no chance to win at that bid level - but we did. Resold it for about $1.9M about 23 months later.
Things sometimes go surprising different than previously expected ahead of the auction when the bidding action is underway!
Wondercoin
Please visit my website at www.wondercoins.com and my ebay auctions under my user name www.wondercoin.com.
Originally posted by: wondercoin "The truth is, I could not have bough the 65 RB Chain Cent below 2 Mio USD, thats just how it is. Nobody could have bought this coin below 2 Mio USD, other than the one who got it for 1 Mil."
Welcome to the boards. A simple (and sincere) question ...
How do you know you could not have bought the coin for under $2M unless and until you seriously tried to win it?
I once bid for a customer $1.15M against a bid of $1.1M on the finest known 94-S dime we were told we had little or no chance to win at that bid level - but we did. Resold it for about $1.9M about 23 months later.
Things sometimes go surprising different than previously expected ahead of the auction when the bidding action is underway!
Wondercoin
Because he knows what he knows. I can assure you that he knows correctly in this case
I want to write more about what I am collecting and why during this year.
And yes, I only have one wife of course.
Best
PRC
And sometimes that's one too many
Welcome aboard!
mark
Walker Proof Digital Album Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
Comments
Great post privaterarecoincollectors. Thank you
+1
Andrew Blinkiewicz-Heritage
I am one of the collectors who bought some of the Pogue coins in each sale 1, 2 and 3 while building a longterm coin collection.
I spend my own money and its not for investment, its for collecting. And its one thing to say this coin is worth 2 Million USD and its another thing to actually put the money on the table and buy the coin. And to have the money, over a period of 5! Pogue sales.
Im collecting US coins since more than 20 years now and while prices increased and also sometimes decreased during this time, there was mostly more money than coins.
Now there are more coins than money. Thats why some of the coins sell cheap.
I also see that coins I am not bidding on sell cheaper than coins I am bidding on. I know for a matter of fact, if I would have bid on the Chain Cent 65 RB, it would have brought at least 2 Mio USD. There also was third collector who would have brought the 65 RB Chain Cent to 2 Mio, if he would not have bought another great Chain cent just a week ago for full price.
I brought the 1794 PCGS 67 half Cent from 600k hammer to 800k (and ended up buying it) and then the 1794 half cent in 66 RB sold cheap for around 230k.
Im sure if I had not bid on the 1794 PCGS 67 and on the 66 instead, it would just be the other way around.
What does it mean ? Does it mean the Chain Cent in 65 RB is worth 1 Mio USD ? I dont think so.
The truth is, I could not have bough the 65 RB Chain Cent below 2 Mio USD, thats just how it is. Nobody could have bought this coin below 2 Mio USD, other than the one who got it for 1 Mil.
Regarding the discussion about coin quality, I think at the end of the day everybody must have his own opinion when he is spending his own money. You need to have thoughts why you buy a certain coin and pass on another one.
e.g. I was very agressive on the Pogue 1796 25 Cent because for me it was the finest I have ever seen, potentially better looking than the PCGS 67. I still graded the coin a 66. But I also graded the Newman NGC 67 a no grade cleaned and while this coin brought the same price (1.5 Mio USD), I didnt like it.
So I think its really fair if everybody has his own opinion and thats good. I just dont like when people say coins have changed over time when its not really true. I bough the 1796 half cent in 67 RB and I do not think the coin has changed since Eliasberg. It sold cheap the same like the Chain Cent in 65 RB sold cheap.
I think I have done well so far by trusting PCGS, CAC, my trusted dealer and agent plus my own eye and taste and my wives taste. We all make mistakes, but if I put them all together, its very few coins that are left to fit our high quality standards.
And I enjoy reading Gregs reports also if I do not agree always on what he writes. I hope he will write more.
Welcome aboard. Super duper first post. And congrats too. I like collecting and admiring the best of the best. You keep the dreamer in me alive. The NAME alone (Pogue) kept me from even attempting a bid. Wonderful introduction to the thousands of collectors who may never get the chance to meet and greet here. I sure hope they do.
I'm happy for you, especially. Perfect Storm.
P.S. "cheap" is a relative term.
``https://ebay.us/m/KxolR5
----
I think I have done well so far by trusting PCGS, CAC, my trusted dealer and agent plus my own eye and taste and my wives taste. We all make mistakes, but if I put them all together, its very few coins that are left to fit our high quality standards.
Welcome to the CU Forums.
2 important points from PRC that bear repeating.
I think I have done well so far by trusting PCGS, CAC, my trusted dealer and agent plus my own eye and taste and my wives taste. We all make mistakes, but if I put them all together, its very few coins that are left to fit our high quality standards.
Welcome to the CU Forums.
Interesting. How many wives do you have? Are you from Utah?
Sorry, couldn't help it. And plus one on the welcome.
thank you all for the nice welcome.
I want to write more about what I am collecting and why during this year.
And yes, I only have one wife of course.
Best
PRC
thank you all for the nice welcome.
I want to write more about what I am collecting and why during this year.
And yes, I only have one wife of course.
Best
PRC
That's terrific. Look forward to hearing your comments and views. Thanks !
Welcome to the boards. A simple (and sincere) question ...
How do you know you could not have bought the coin for under $2M unless and until you seriously tried to win it?
I once bid for a customer $1.15M against a bid of $1.1M on the finest known 94-S dime we were told we had little or no chance to win at that bid level - but we did. Resold it for about $1.9M about 23 months later.
Things sometimes go surprising different than previously expected ahead of the auction when the bidding action is underway!
Wondercoin
In this case thats just what I believe based on my experiences.
Maybe not for sure 2 Mio, but most probably 1.5 Mio or 1.7 Mio.
PRC
"The truth is, I could not have bough the 65 RB Chain Cent below 2 Mio USD, thats just how it is. Nobody could have bought this coin below 2 Mio USD, other than the one who got it for 1 Mil."
Welcome to the boards. A simple (and sincere) question ...
How do you know you could not have bought the coin for under $2M unless and until you seriously tried to win it?
I once bid for a customer $1.15M against a bid of $1.1M on the finest known 94-S dime we were told we had little or no chance to win at that bid level - but we did. Resold it for about $1.9M about 23 months later.
Things sometimes go surprising different than previously expected ahead of the auction when the bidding action is underway!
Wondercoin
Because he knows what he knows. I can assure you that he knows correctly in this case
thank you all for the nice welcome.
I want to write more about what I am collecting and why during this year.
And yes, I only have one wife of course.
Best
PRC
And sometimes that's one too many
Welcome aboard!
mark
Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
An authorized PCGS dealer, and a contributor to the Red Book.