Those pesky, non terribly informative auction write-ups

earlycoins

I've always found a certain humor in the fact that auction catalogs virtually always headline a coin with some superlative, or near-superlative, making it sound as though Gordon Ramsay was in charge.

I recently noticed two write-ups on Heritage, for what could be two, very different coins, encapsulated by our hosts.

The first, dated Sept 7th of this year, referenced an 1880 $3 gold piece in an ancient MS 63PCGS holder, making note of the fact that "Trivial contact marks limit the grade."

The coin went for big bucks, as someone apparently saw something special.

Next write-up is for the upcoming January 4th sale, and it's for the same coin, now safely housed in a new gen PCGS 64+ holder with a CAC sticker.

The write-up reads thusly: "The present coin is a Plus-graded Choice example, with well-detailed design elements that exhibit just a trace of the typical softness on the ribbon bow. The luminous orange-gold surfaces show only a few minor contact marks, suggestive of an even higher grade. Vibrant mint luster radiates from both sides, adding to the terrific eye appeal."

What limited the grade to 63, 90 days ago, now has designs on a 5 or 5+.

Copywriting is better than anybody.

EC

Sonorandesertrat

Reading numismatic auction catalogs is an exercise in wading through mounds of B.S. It's frequently difficult to maintain real enthusiasm for the hobby when most in the business are hoping you're just another chump with money to burn.

ricko

I think auction catalog descriptions are written by retired car salesmen.... Cheers, RickO

Walkerfan

Flaws only seem to be mentioned, if they are HUGE, and even then they are downplayed.

I read the descriptions for fun but I NEVER adhere to them or make decisions based upon them.

I have even seen times, when they failed to mention POSITIVE attributes.

You also can tell that they are usually written by the same person month after month, as he/she uses the same adjectives over and over. lol

messydesk

@ricko said:
I think auction catalog descriptions are written by retired car salesmen.... Cheers, RickO

I was thinking realtors.

BillJones

I'm not a negative about this as some people. In a recent Stacks' sale the write-up described an 1836 half eagle in MS-61 as having the appearance of a coin in higher grade. I am paraphasing. When I got the coin, it does look like a piece in a higher grade. Both sides had a lot of luster, really P-L, and the coin had better eye appeal that most of the similar Classic Head $5 pieces I've seen in MS-63 holders.

The catch? There was the slightest rub in the obverse field which was not strong enough to dim the luster. That's why it was in an MS-61 holder. You can have the debate about which is worse, a bunch bag marks or a slight rub. I'll take the rub over the bag marks most any time. It's less of an impairment IMO.

As to auction catalog write-ups, what would you like if it was your coin that was consigned? Would you really like the have every negative emphasized?

ricko

You are absolutely correct Bill...if it was MY coin I want it to be filled with superlatives......as a buyer, well, as I tell the car salesmen - just tell me your best price and I will get back to you. Cheers, RickO

BillJones

I have add though that there has to be a decent picture. You don't have a decent picture posted of the item you are selling, it's a non starter for me UNLESS it from a dealer I REALLY trust. I can count those folks on one hand.

AUandAG

My thought was that novelists write the hype. Literary license.

bob

hickoryridge

"beguiling luster" is my new favorite

Elmhurst

My favorite I've seen so far is "semi-proof like tendencies."

BillJones

2) that they don't say anything that implies a finer coin exists, "like one of 5 in this grade with 1 finer." Just because a TPG graded one coin higher does not mean it actually is a better coin.

While it might be true that the piece which received the higher grade is not as nice as an example that received a lower grade, that information is of use to people who are bidding on the coin for two reasons.

1. If they are really hung up with the registry, "top POP" is still very important to them.

2. Knowing that a coin is at or near the top in the universe of known and graded examples is an important piece of information. If this is as good or nearly as good as all of the examples that have been graded or, better still, known, that provides bidders with information that can influence what they offer. Some condition rarities are seldom available.

"Condition census" information is the best because that covers the known examples. Population report information is of secondary importance, but still a useful tool.