Double Struck 1804 $2.50 Quarter Eagle
SmithAuctionCo
Posts: 170 ✭✭✭
Hello all, First post here, but long-time reader.
Today, I was bidding on a Double Struck (First Strike Off Center) 1804 $2.50 Quarter Eagle graded NGC Fine 15 (Mint Error). It ended at my proxy bid of $3500 (plus 25% BP), but another bidder won it for the same bid. I tried to bid higher as the lot was live, but the auction company closed the lot very quickly, so it was difficult to "confirm" another bid in time.
Just curious to what you guys think the current market value is for the coin. Did it sell really cheap? I had it in my mind at around $10K to the right buyer, and would probably have bid it up to at least $4K plus the BP to try and flip it. Notably the auction house selling it, does not appear to be well versed in coins, and misdescribed it as a 13 stars variety (but it is def a 14 stars).
Here is a link to the auction: http://www.auctionzip.com/auction-lot/1804-2.5-TURBAN-13-STARS-DOUBLE-STRUCK-MINT-ERRO_30049BEA62/
They also had a lot of graded modern gold and platinum, which seemed to have sold well.
Comments
No clue on the value, but I like it
somebody got a steal
I would have put in a top bid of significantly more. And I wouldnt care if I got bumped all the way up.
Cool coin
i like it to (im not sure about the 25% b/p though, thats just me)
Wow, huge B/P but I still think it was an absolute steal.
That seems way too cheap!
Sunshine Rare Coins
sunshinecoins.com/store/c1/Featured_Products.html
.
12 hr left @ 4:25pm est 2-3-17
http://www.ebay.com/itm/232215719646
http://www.ebay.com/itm/like/232215719646?vectorid=229466&item=232215719646&rmvSB=true
.
I wish the auction was still open for bidding LanceNewmanOCC., but unfortunately that is just an "open ended" time remaining that eBay uses for Live auctions.
The lot sold live around 2pm EST today.
Guess it was definitely a steal at the price. I reached out to the auction, since the system shows my bid of $3600 as placed, but that the auctioneer did not accept it. But, I doubt I'll hear anything back as I'm sure the buyer at $3500 is more than happy and isn't backing out.
If I were the consignor I'd be a little mad that they didn't allow much time for Internet bids, and also didn't describe it properly. Definitely left a lot of money on the table.
It already sold
Cheap becuz it was in the holder backwards!
Is it a details holder? Probably still a deal
I too have tried the ebay live event auctions and struck out each and every time. Once one was scheduled to close at 4 pm PDT and I had placed a bit and got outbid, so set my alarm for 3:30 only to find they ended it at 3:15 which is 45 minutes early....
I'll never do those live events again. I sent a request to reopen or explain and got no response.
bob
I’ve been the under bidder many time in art auctions. It is frustrating, but you just have to put in your maximum and walk away and let the bids play out. You can’t assume you would have won it for 3600 – the other bidder likely would have just bid it up again. No offense, but If you were willing to go higher, I wouldn’t blame the auction house (although they definitely missed out as did the seller), but rather yourself for not putting in your max in the first place. That is actually why I like bidding absentee sometimes – it removes the impulse to go higher than I planned during the last second frenzy.
And that BP of 25% is a bit of a disincentive. BPs have been climbing upward over the past several years. How high will they go, I wonder? Don't forget - the seller also pays a SP. Maybe it will reach a point where the auction house will take home more than the seller does.
Wow... the BP is very high.... that is ridiculous.... Too bad you missed that coin, would have been a bargain. Cheers, RickO
They didn't do a very stand up job imaging the coin, as far as closeups. Aside from the crazy BP, that could also be one of the factors in the low finishing bid on this one.
Indeed.
17 stars....
Nice!
Sometimes you can really score on high BP auctions on ProxiBid or auctionzip etc. I once won a zuchatto hat worn by pope pius xii (the pope during ww2 and a highly controversial one as a lot of Jews and historians blame him for knowing about Hitler's persecution and genocide of Jews yet keeping silent) anyway, it had all paperwork and import receipts from the 50s and a photo of him wearing it etc. Won it for $400 + 18% and sold it for $5k to a guy in Switzerland.
Another story is I bought a near complete set of morgans, an old set in those blue binders, missing only the 93s 94p & 89cc. Won it for $2,800 + 20% with horrible and even incomplete pics. I was shocked. There were some conditional rarities in there that graded very well. Sold a few for $8k and I still have a few coins from it worth a few thousand. Heck, I just sold an 85cc from it a week ago for $900. You just never know what's out there. Don't just stay away from these auctions on principle. That would be a mistake. A lot of it is garbage that goes too high but boy can you hit on occasion