Decent deal on eBay
TwoKopeiki
Posts: 9,539 ✭✭✭✭✭
Apologies if I'm messing with someone's snipe, but there's currently a nice Mexico 8 Reales for sale on eBay that I used to own years ago going for a steal. I originally purchased it raw in early 2012 from a forum member and had it slabbed, then re-sold it to another collector working on a registry set later that year. That collector turned-around and sold most of his registry through Heritage in November 2015 (I was peeved that he described all of his coins as overdates to draw additional attention, even though the slab clearly stated they were not) and I was able to acquire a few of his pieces, but passing on the coin in question, since I already had a nice MS example of this date. Now it's listed on eBay for $150 and the images don't really show-off the coin well. It's a very lustrous piece with some reverse planchet flaws that don't really detract that much (in my opinion). Out of all the photos, Heritage actually did the best job showing the color off (in PCGS coinfacts the coin looks pinkish).
If i wasn't in the process of saving-up a ridiculously large mandatory down payment for a house, i'd be all over it.
http://www.ebay.com/itm/361880991603
Coinfacts: http://www.pcgs.com/cert/26117290
Also, it's the second highest graded Mexico 1816 8R with only 1 in MS.
Comments
The eBay pictures really suck compared to the others. I have no reason to buy it, but it does look much nicer in the other photos than the current auction would suggest.
Do you think the person you sold it to did the overdate comment or was that done by the Heritage cataloger? Or, for less pricey coins does Heritage rely on the consigner for a description? Genuinely curious.
I believe it was done by the seller. I have contacted HA every time I saw the misattribution and they fixed some (but not all) before the auction went live.
8 Reales Madness Collection
The 1816 went unsold at $150. There was also a colorful NGC AU53 in the old holder that sold for $83 the other day. Heritage is still bringing in stronger prices, but not by much. AU's in Carlos IV and Ferdinand VII can be picked-up around $150-$250. Carlos III certified portraits AU's seems to be holding their value with the common dates around $30-$450. MS certified prices are also holding around $1,000-$1,200 for the 62-63 range with really common examples (1805, 1807, 1809, 1810) selling in the $600-$800 range.
Prices seems to be bottoming-out for the common date AU's at auctions. And just when I almost finished my 1791-1821 date run! Dealer stock is still at a premium, but that will change if the market continues to be soft.
Good time to buy / hold, imo.
8 Reales Madness Collection
Hmm, well I'm interested in a Cadiz mint coin...I have a couple coins but rougher shape, so maybe this would be a time to upgrade. (For my 'world travels' set) Thanks for posting this -- it's a good reminder to keep my eye open for one (or more) of these.
@Stork Cadiz is a much tougher mint than Mexico City. If you PM me the denomination and condition and roughly how much you want to spend, i can keep an eye out for you as i do my daily rounds.
8 Reales Madness Collection
I've been surprised to see AU Carlos III pillar 8Rs going between $500-$800 in Heritage Auctions lately.
Cadiz is a city on my list of future world travels. I just finished reading Arturo Pérez-Reverte's novel, "El Asedio" or "The Siege" set in 1811, during the siege of Cadiz. Some violence is quite graphic otherwise I would unreservedly recommend it. Good luck on your hunt. Here's my one example.
We lived pretty close to Cadiz, in Rota and could see it across the water. The 'sherry triangle' is near there and well worth making a bodega tour or five. Seriously gorgeous weather and it was hard to leave. What a way to close out a military career. Other than that pesky work business it was amazing.
This is my current specimen (graffiti and all):
Soler y Llach has two Cadiz 8 reales in their Feb 23 auction, both 1811 and one has a Portugal countermark.