My first-ever auction buy - how did I do?
Tradernik
Posts: 111 ✭✭
I promise I won't start one of these for every coin I buy : )
My first auction purchase. First coin I ever bought was from Rexford on here, super-helpful and gave me a ton of guidance on a small purchase. These two I bought with no input. Tell it to me straight, I can take it. One point of concern - I didn't notice that the sticker has been ripped off the back of the 1937 case. Problem? Prices include buyer's fee at GC.
In the cold light of day, the 1938 MS-65 looks... well, not quite MS-65. I guess I've seen so much value attached to CAC stickers that I was taken in a bit.
1937 Buffalo 5c MS-66 CAC OH $52
1938-D Buffalo 5c MS-65 CAC OH $32
3
Comments
They've got stickers. Hopefully the luster is nice in-hand! The old slabs are a nice touch too. Congrats.
I don't know how well you did, but I'm sure some wouldn't mind your posting every purchase! Some would welcome it! Thanks for sharing.
Yes, 'they've got stickers' was part of the calculation for sure. I've been reading everything I can here about CAC and I know there are varying opinions but an analysis of auction results showed me that it means something, in some cases at least.
Thanks for responding.
They sure are purdy! I favor the look of the 38, but jmho. They both have beans so are nice for the grade, and the old holders are cool too as GoldenEgg already mentioned. I am one that never gets enough of pics to look at.
Ok, got it and thanks for the input. Yeah, the 38-D... they say you have to pay your tuition in this pursuit and I got a taste of it today. I was sort of enamored of the sticker. Also got outbid once and raised my max bid by $4... and won it, of course.
Good to know that there's some merit in the 38 for some experienced eyes around here. This is one of these cases where I wonder if this is actually 'uncirculated'.. or is the weakness I see in the devices a strike issue?
I'd love to check in here for the first while, just to see if I'm on track. I wanted to post pics of these before I bought but I figured 'pay your dues'.
They are nice coins in old holders with CAC and you only paid $84. Sounds good to me.
Thanks jack, I'm relieved. Another question for you or anyone else - when people post the prices they paid here, they always include buyer's fee, right?
HA 18%... wow. Tax and import duty for us Canadians and it's a bit much.
Nice! Love the old holders. Looks like you did good to me!
Sorry, what I meant was when I add tax + duty to an HA auction with the 18% buyer's fee, the total ends up being up to 38%+ on top of the cost of the coin! I have no idea how Canada Customs actually deals with coins but I believe they're allowed to charge if they want.
Thanks PD88!
Good job and thanks for sharing.
Nice looking buffs. A word of warning though, at those kind of prices they can get addicting. I have an incredible weak spot for gold toned '38-D buffs my self. I just bought another one on eBay today.. LOL Keep it up and you'll start to develop your eye for under graded coins in the older holders, that's where the fun really happens.
Man, can I ever see how this would get addicting. I'm a prime candidate. But yes, what I want is to be able to pick off an undergraded coin and feel like I got that sweet deal. A lot of people with better eyes than me are looking, I know.
As we speak I'm scouring the next GC auction...
For common coins such as these, play very close attention to recent auction pricing. Plenty of them in these grades are bought and sold, so there's not point of paying too much to get them. Suggestion - buy a nice for the grade coin in the right holder and leave it there. Your life will be far less aggravating. And if the price isn't right, pass.
As you are probably buying sight unseen, that's another reason not to stretch for a coin. Any coin.
"Seu cabra da peste,
"Sou Mangueira......."
I think you did fine for what you paid.
Congrats.
Donato
Donato's Complete US Type Set ---- Donato's Dansco 7070 Modified Type Set ---- Donato's Basic U.S. Coin Design Set
Successful transactions: Shrub68 (Jim), MWallace (Mike)
They both look good for the grade and price seems in line....not sure how the reverse label was removed... that would bother me... They match well with Buffs I have in the same grades. Cheers, RickO
You did okay
BHNC #203
Thanks for all the feedback. I guess these deals were decent. Not a huge steal but not bad for a first try. Learned a lot.
Yes, a true noob mistake not looking at both pics. I fell in love with the price and the CAC sticker. If it turns into an issue, it will be tuition.
In the world I'm comfortable in (vintage guitars) I can do this easily. I was keen to buy something after a few months of looking at pics of coins. I'll remember your advice. Can't wait to get to a coin show although dealer pricing will be a bit hard for me to take. I'm a deep value hunter in all things, and I don't know enough yet to spot it through dealer pricing, although I know it exists.
Only add the juice if you think you paid it. If you think you bought the coin for hammer price...then only report that. All that matters is what YOU paid for it.
It's quite difficult to beat out all the other GC bidders and still get a rip. I've been trying to do that for the past 16 months and really still haven't really done it. I look at every seated coin, most MS64-67 Morgans, and most MS63-65 larger gold coins....and there's always at least one other bidder who sees the potential I do....and makes me pay for it. Unlike the old days of Teletrade when there were lots of free lunches.....GC doesn't have many coins fall through the cracks.
Ah, I see. At this point, the distinction may be a bit over my head. In this case, I bid and won at $x and they added 10% to that price and that's what I paid.
Rest assured in the knowledge that you paid more than anyone else was willing to pay for that exact coin at that moment in time.
Latin American Collection
I'm not really a Buffalo guy, but heck, I like them both, esp the 38-d. Nice work!
Dave
Indeed, very true. As a noob, that's what makes me wonder. I know I'm up against you guys at these auctions : )
Thanks Dave! Truth is, I can't wait to have these in hand.
I could write long response to this. I'll just say that yeah, I figured this was the case and if a guy like you is having trouble finding real steals, what chance do I have? Not much. At this point I'm thinking 'if I can buy good coins at Greysheet values, it's a start'.
I have to start down the long road that leads to the ability to spot quality. I have to see some coins in person.
I think you did fine. If you think 38-D's are addicting, wait till you start buying '13 type 1's.
Collector, occasional seller
Stick with Great Collections. Quality coins, good pictures and less juice. Common coins can be found in most local auctions as well.
Nice start. The older slabs are a plus.
Don't you hate it when a dealer puts his/her sticker on the back & rips off the slab label
BHNC #203
Oh no you didn't!!! Don't even say '13 type 1.. Man, now I need to go hit up eBay. Thanks..
Treashunt said:
Don't you hate it when a dealer puts his/her sticker on the back & rips off the slab label
I also hate auction house # stickers that leave residual goo on the slab
https://www.pcgs.com/setregistry/alltimeset/133461
Oh really? Like this?
https://goo.gl/DXNjJ8
So this is what I should bid on next? Is this what the real coin guys are after??
And one more thing, in case anyone wants to answer...
Why on earth would 4 people bid $2 - $10 on a coin that is eventually going to sell for $3000?
Reverse sticker pulled off: I wouldn't sweat that at all....it is GC policy that the coins they auction have to have all previous auction and dealer stickers removed...as someone mentioned some of those stickers use super glue...and in pulling off the sticker...the Old Holder reverse certification info also came off...no big deal...you can always have it re-holdered if it really bothers you...
Very helpful info, thanks.
The week before the auction begins, they flag the coin at the then current bid. I've flagged some seated coins early on in the $500-$1,000 range that I knew would sell for $3K to $5K.
I think you did Well...CAC and NGC Fatty is a Sweet combo for any coin...Enjoy them
Well the nice thing about the 1913 T1 is that they are very common to find in higher grades, so the pricing is not terribly high. You can find some nicely toned ones for decent prices if you hunt around for them.
Here's one that I picked up from a local shop last year for around $50.00. I grabbed it because I love the gold toned buffalos.
^^
That's gorgeous - that's my idea of what a nicely toned coin should like like. With all the coins I've looked at over the past few months, I've seen many that are described as 'nicely toned' where I don't actually think the toning is nice at all (eBay especially). I know it's subjective, but could anyone actually say they didn't like they toning on this coin?
Really great coin, I dream of getting something so nice at such a price.
Thanks!
Thanks, they are out there. It's just a matter of looking for them, or as in my case, just come across them. I was simply in the right place at the right time. The gold color of the nickel just popped out at me.
Another thing to keep in mind , for me it's not always just about toning. A really hammered, fully struck example will suck you in as well. I'm also partial to very late die state coins with lot's of die cracks and metal flow lines in the fields. There are a lot of people who prefer fresh dies over the late die state coins, I like both. Also strong clashing will grab my attention as well.
Thanks M.O.C, that's encouraging
Yes, certain (very asymmetrical?) toning just looks somehow 'stained' to me but I've seen enough multi-thousand dollar coins with that look to know that not everyone feels the same. None of the pics in your sig qualify : )
Just starting to understand clashing and die cracks.