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Can there be a 5 times difference in the value of an 1823 CBH in MS 64?
TahoeDale
Posts: 1,785 ✭✭✭
Sure there can. And this was demonstrated last week in the LB Heritage sale.
An NGC 64, O.106a R.2 hammered at $2900, and a PCGS 64 CAC at $15,000.
For historical purposes, PCGS shows the range for reported MS 64 1823's( PC and NGC) to be 2875 to 5460, before this sale.
What could have caused 2 R.2 halves to be so different? They were both toned nicely, had few hits, and similar rarity.
Was the 15k coin misattributed? and a higher rarity? I don't think so.
Was the 15K coin a lock upgrade? Well, it was not gold CAC. But even if it upgrades, that would make it the 5th 65.
Was it finest known for the Overton rarity? No , but possibly tied for finest.
Conclusion: There can be a wide range for pricing of CBH's( and many other series). Auction results need to be analyzed before deciding on value.
An NGC 64, O.106a R.2 hammered at $2900, and a PCGS 64 CAC at $15,000.
For historical purposes, PCGS shows the range for reported MS 64 1823's( PC and NGC) to be 2875 to 5460, before this sale.
What could have caused 2 R.2 halves to be so different? They were both toned nicely, had few hits, and similar rarity.
Was the 15k coin misattributed? and a higher rarity? I don't think so.
Was the 15K coin a lock upgrade? Well, it was not gold CAC. But even if it upgrades, that would make it the 5th 65.
Was it finest known for the Overton rarity? No , but possibly tied for finest.
Conclusion: There can be a wide range for pricing of CBH's( and many other series). Auction results need to be analyzed before deciding on value.
TahoeDale
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So why is everyone surprised when it a Capped Bust half sells at 5x, when no one bats an eyelash when a Morgan sells at 30x?
An authorized PCGS dealer, and a contributor to the Red Book.
I think another thread indicated the surprise for the final price of the 1823 CBH, perhaps because it is unusual. Where Morgans and commems have had this large multiple for nicely toned examples for years, the CBH series has seldom seen this event.
As noted previously, the spread for the date and grade was 2 to 5k. Now a coin sells for 17, 625.
It may not be only the toning, as many CBH's are more colorful than this 1823, and have not achieved such pricing.
I recently bid $6,750 (plus the juice) for an MS-63 Bust half common date and common variety and lost it to a higher bidder! So higher prices for really nice Bust halves aren't unusual.
I recently sold an AU-58 Bust half common date and common variety for $4,000. As you might guess, it was an extraordinarily attractive coin.
An authorized PCGS dealer, and a contributor to the Red Book.
Okay, that's 2. Any more?
Hoard the keys.
What date was your 58?
I have been the under-bidder on some of the special pieces, and I admit that my thinking on value is not scientific. On one coin in particular, a commemorative (a series I don't even collect) I think I made the last 2 bids just out of curiosity to see if it could go higher. It did.
If I say no, I will be disproved.
Am starting to think it's better to quit posting. Would you make polls so I can just lurk and vote ?
Edit to add: Never underestimate the power of sentimental value
<< <i>Rich,
What date was your 58?
I have been the under-bidder on some of the special pieces, and I admit that my thinking on value is not scientific. On one coin in particular, a commemorative (a series I don't even collect) I think I made the last 2 bids just out of curiosity to see if it could go higher. It did. >>
Here is the 58. Colors on the coin were a bit brighter than the pix. I call it "The Halo Coin", and the customer loves the coin:
An authorized PCGS dealer, and a contributor to the Red Book.
And about 1.5x list for this one:
Been happy as a clam with both decisions
You got the 1808 cheap--that is a wow coin! As for the 1824/various, maybe a little too much. Want to sell it??
<< <i>Isn't that 1824 from the connoisseur collection? >>
Wasn't that coin bought by Legend for a client? I seem to recall it being written up in one of their market reports. Hard to forget a $19K MS64.
Ha Ha! That depends on the offer...
One man's passion is another man's road kill.