Some BIG prices for some little coins - - -
Ed62
Posts: 857 ✭✭
Ed62
Posts: 857 ✭✭
Ed62
Posts: 857 ✭✭
Comments
Steve
Based on Pre-Auction Estimates, THIS COIN was theoretically in my price range a couple of months ago when I first saw the lots posted. I really like it but was not a bidder. Had I been a bidder, I would have been blown out big time. It is stunning and it seems others thought so too!
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<< <i>Congratulations to the new owners. I know the new owner of the 1793 in MS66 and he is the nicest guy - I am so very happy that he got the coin he fretted about for almost a year!!! I know the feeling [except I paid almost my max bid. lol] >>
That's nice, I am glad to hear it went to a good home.
Partner @Gold Hill Coin
<< <i>Congratulations to the new owners. >>
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SeaEagleCoins: 11/14/54-4/5/12. Miss you Larry!
<< <i>Do these prices include the buyers premium? >>
Depends on which price you are talking about. If you go to the catalog, yes. If you go to the prices realized list, no.
Those who purchased the high end rarities are no doubt savvy Collectors...
It's all about what the people want...
For 228 lots, it averages out to a bit under $69.4K per lot.
Doggedly collecting coins of the Central American Republic.
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<< <i>The prices don't seem crazy. I'm glad I skipped the sale. I could have hurt myself! >>
I had the hammer pretty much predicted within about 8% (mine was a little higher).
What I was surprised about was that there was only one lot that hammered for $1M or more. I thought the 1793 C-4 and the 1796 C-1 (No Pole) would.
...and why someone did not just bid $1M on the 1811 C-1, and say "F it" if they got outbid is beyond me. What's another 25K+ the juice when you are spending that much money on a coin?
<< <i>...and why someone did not just bid $1M on the 1811 C-1, and say "F it" if they got outbid is beyond me. What's another 25K+ the juice when you are spending that much money on a coin? >>
is there any value for a buyer now to keep it under a specific amount so when they go to sell an item(s), they can "let" the next buyer have the incentive to break said ceiling?
also, doesn't the bid increment possibly prevent someone from breaking a ceiling and/or if someone won't/doesn't put in the required bid(s) to reach a certain amount? i say this under the quote, "it takes two."
scratch the last part. i know someone can just blurt out a price and commit to that amount, negating the "it takes two." part.
also, i ran the numbers to see if my method is worth using in the future. i did some quick copy, paste, sort and this is what i came up with. i don't care about the actual prices, just the calculations.
$15,877,625.00 / 228 / $69,638.71
$18,259,268.75 / 228 / $80,084.51
.
<< <i>The notoriety of being a million dollar coin just ain't what it used to be. I, too, am shocked the 1793 didn't hammer at that level. Compared to the 65s it was a steal! >>
I was surprised the 1811 wasn't the highest priced coin in the sale. Perhaps that's because there's nothing to compare it to.
I still believe it should be a tie with the '94 HR, but can't argue the $25,000 "Weinberg premium" .
edited to add: Sorry, old buddy, but I now pronounce it, as the most precious of all half cents, to be "Freddy's Coin". .
Watching a certain '96 sell might be a lesson. Always keep enough powder dry to account for the sufficiently unshocked last-gasper who might still choose to compete.
The idea of a jump bid is to shock people into not competing by elimination of the reinforcement and validation they might get by knowing there are many more underbidders. Many of the most steely-eyed competitors will wilt. Laurie jumped a bid from under $5K to $40K. The room shut up. No one was buying for stock at that level.
Wimpy me might have gone $25K with a $40K limit under the same circumstances. But then I have no idea what Laurie about her competition. More likely, after a $5K opening I might have doubled it at $10K, jumped $11K to $20K, 21K to $30K and then smugly smile, shrug, subtly roll my eyes and begin to read the room for my endgame.
<< <i>BTW, shock and awe fans, if you're operating in the under $5M arena, a jump to your absolute top is not necessary. Nor tactically sound.
Watching a certain '96 sell might be a lesson. Always keep enough powder dry to account for the sufficiently unshocked last-gasper who might still choose to compete.
The idea of a jump bid is to shock people into not competing by elimination of the reinforcement and validation they might get by knowing there are many more underbidders. Many of the most steely-eyed competitors will wilt. Laurie jumped a bid from under $5K to $40K. The room shut up. No one was buying for stock at that level.
Wimpy me might have gone $25K with a $40K limit under the same circumstances. But then I have no idea what Laurie about her competition. More likely, after a $5K opening I might have doubled it at $10K, jumped $11K to $20K, 21K to $30K and then smugly smile, shrug, subtly roll my eyes and begin to read the room for my endgame. >>
MANY years ago, someone mentioned to me an article regarding optimal decision making with regards to cut and jump bids. I was never able to locate it when I thought about it a couple of years ago.
I do not know enough about coin auction dynamics to make a solid comment on the subject, but I do enjoy the dialog about it.
HalfCentMan: What I was surprised about was that there was only one lot that hammered for $1M or more. I thought the 1793 C-4 and the 1796 C-1 (No Pole) would.
To hammer for $1 million, a coin in this particular auction would have to sell for $1.15 million! I really do not understand HalfCentMan's point. As I explain in my review, before this auction, only two or three half cents have ever sold at auction for more than $250k. While the Eliasberg 1796 'No Pole' is certainly worth more than 1.15 now, it is an exception in that it is of the rarest date in the series and it is PCGS certified 67RB! The Tettenhorst-Missouri 96 'No Pole' is a neat coin, though is clearly inferior to the Eliasberg piece.
In any event, I cover the details relating to the prices realized for the leading coins in this auction. The prices for the PCGS-65BN 1796 'No Pole' and the PCGS-65RB With Pole were just a little weak. I do not understand how someone could have expected 1.15 for either. The 1.21 price for an 1811 is strong; this date is not nearly as rare (or as popular) as a 1796 and, while 1793s and 1994s are often selected for type sets, it would be odd to buy an 1811 half cent for a type set.
The Missouri Half Cent Coin Collection, Part III: Astonishing $18.26 Million for Tettenhorst Set!
The Missouri Half Cent Collection, Part II: Tettenhorst, Superb Gem 1794
Soooo, is it love, or is it speculation......???? The speculators do see through a different set of rose colored lenses.
For me, would I rather buy a Porsche 918 Spyder for about $1 million that I can visit in my garage, or would I rather have a coin that I can visit at my bank. But the Porsche may depreciate $200,000 +/- whereas the 1/2 cent might increase $200,000.
Thank God for alternatives.
OINK
``https://ebay.us/m/KxolR5