Feedback from the Tom Reynolds Auction on Sunday

halfcentman · February 2, 2016 3:27AM

I was wondering if anyone on the board snagged anything from the sale, and what their views were of the prices realized with regards to the texture of the lots and the future of Large Cent collecting.

I await your replies. Thanks for reading.

Barndog · February 2, 2016 3:39AM

some discussion started in this thread

TopographicOceans · February 2, 2016 3:44AM

I won four lots - and overpaid.
I put in a lot of absentee bids and also was online for the live auction

Things were going so fast I was clicking on the "Bid $800" button and wound up winning at $1050

BillJones · February 2, 2016 3:54AM

Prices in the EAC world tend to be high. There are a lot of dedicated collectors who support the market, and most of them are not concerned about their next meal, if you follow my drift. The member of the EAC subgroup, "Boys of '94," would provide a base of support from the get-go..

Sonorandesertrat · February 2, 2016 4:36AM

As the OP is aware, the market for large cents remains healthy. Nice coins don't last long in dealer inventories. Regarding the future of large cent collecting, it has been evident for at least a decade that early date coins (up to 1814) have been moving up in price, particularly if they are choice for their grades. This has forced collectors with thinner wallets to gravitate to the middle dates or late dates. I think that collectors of average means will stick to 1816-1857 coins and perhaps get examples of earlier dates for type purposes. Even 8-10 years ago, I recall being amazed that gem quality (commercial grading) brown 1850's era large cents could be had at retail for less than $1K. The new EAC grading book and Bill Noyes' completion of his six-volume series on large cents may help keep people interested in these coins. The bigger problem is that a handful of dealers essentially control the early copper market. B&M shops don't tend to get meaningful numbers of decent-looking large cents for inventory. There are ca. 10 shops in Tucson; during the last 8 years, I have seen only 3 nice MS large cents in local shops (Rick Snow had all of them--one 1820/19 and two late dates).

BillJones · February 2, 2016 4:57AM

The bigger problem is that a handful of dealers essentially control the early copper market.

This is a big issue with early copper. There are three or four dealers who hold most of the chips, and they maintain a strong market for this material. Most of the other dealers get good copper coins on a hit and miss basis. This is true even if you are mostly a budding date collector, as I am. If you are a variety collector, you must pay the piper.

Feedback from the Tom Reynolds Auction on Sunday

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