An Auction Lot Gone Crazy
JBN
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Nice coin. Wanted it. Yes, its a 58 and gets the Everyman price bump. CAC as well. Don't trade that often. Tight price groupings between grades. So, for a $900 price guide, put in a $1200 bid (just shy of MS63 price guide). Bid held in pre-bidding; just. For the live auction, I padded the bid by a few hundred. Certainly, I've got to be the only one out there that would pay that level money.
Two bidders swiftly passed my bid on their way to a hammer of $2600 ($3120 w/BP). $1000 more than MS64 price guide.
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That's crazy. I'd say the Registry has made a few people out there a tad competitive.
My own opinion is that you and the consignor were the biggest winners in this lot.
In honor of the memory of Cpl. Michael E. Thompson
Join the club. Token I have been chasing is now 4 times my original bid.
Gold CAC would have killed the price.
I've bid multiples of Price Guide on toners but I would not have bid 3x given those photos. Perhaps it looks better in hand?
Nice coin...nowhere near at that price though.
BST transactions: dbldie55, jayPem, 78saen, UltraHighRelief, nibanny, liefgold, FallGuy, lkeigwin, mbogoman, Sandman70gt, keets, joeykoins, ianrussell (@GC), EagleEye, ThePennyLady, GRANDAM, Ilikecolor, Gluggo, okiedude, Voyageur, LJenkins11, fastfreddie, ms70, pursuitofliberty, ZoidMeister,Coin Finder, GotTheBug, edwardjulio, Coinnmore, Nickpatton, Namvet69,...
I might chase a coin to stratospheric levels but not without seeing it in-hand and having someone smarter than me also give it the thumbs-up. On this one, I’d say you’re lucky to have figured out your max bid and stick to it.
Seated 50c from the 1880s are very tough in high grade.
Arbitrage opportunity: Take a 62 coin. Crack it out. Rub it between your fingers for a few minutes. Resubmit. Voila!
Sometimes, opportunity is more important than price
Like the look of that coin, at least from the scan. Would like to see in hand of course.
"Look up, old boy, and see what you get." -William Bonney.
They usually run up the price to about retail before the live auction even starts
EEEK..........that coin has a whole lot of Pizzaz.........but not THAT much.
Pete
It's nice but at that price; I'd rather have a 63 or 64. JMHO.
Sometimes, it’s better to be LUCKY than good. 🍀 🍺👍
My Full Walker Registry Set (1916-1947):
https://www.ngccoin.com/registry/competitive-sets/16292/
Agreed. At that level, the bidders should have their reasons.
Once you figure that one out....'splain this one to me.
https://coins.ha.com/itm/three-cent-silver/1851-3cs-ms64-ngc-ngc-census-424-263-pcgs-population-420-370-ms64-mintage-5-447-400/a/131802-23289.s
I wasn't in the game, but did a double-take when it got bid up.
MS-64 money is $425 (PCGS price guide).
Sold for $3000 with the juice?!
Even MS-65 won't get you close to that. Rare die variety? The date looks "interesting", but I'm not that familiar with 3-cent silvers.....
It is one of those low mintage 1880's dates, but that is a bit crazy. I'm betting that coin will be very nice in hand. I'm very happy with my XF-40 example of this date.
10-4,
My Instagram picturesErik
My registry sets
Some odd prices for these coins;and I agree that something does look off about the 1851 Trime date - I will have to look that one up
Was @BillJones bidding on it
I have to admit, I thought about mentioning him. My experience certainly matches the ones he describes pursuing the older gold coins he likes.
Excellent point. Opportunity costs were not on my ledger. I'll have to consider them as such in future bidding. [It would not have taken me all the way to getting this coin.]
Have fun with your coins.
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
This about sums up any of the coins I have been bidding on. Retail price comes and goes, then there is the final bids way out there...
1851 3CS FS-302 RPD...usually about a 25-30% premium.
BST transactions: dbldie55, jayPem, 78saen, UltraHighRelief, nibanny, liefgold, FallGuy, lkeigwin, mbogoman, Sandman70gt, keets, joeykoins, ianrussell (@GC), EagleEye, ThePennyLady, GRANDAM, Ilikecolor, Gluggo, okiedude, Voyageur, LJenkins11, fastfreddie, ms70, pursuitofliberty, ZoidMeister,Coin Finder, GotTheBug, edwardjulio, Coinnmore, Nickpatton, Namvet69,...
crazy
BHNC #203
Auctions make money because people 'want what they want' and are naturally competitive...Sort of like a fight, but you don't get a bloody nose....That is the whole psychology behind auctions. Cooler minds save money, but don't get as many nice coins.
Cheers, RickO
No, I bid on four lots in the auction, two in the live part and two in the Internet only portion. I got one from each venue.
For the one I lost in the live part I hung up my paddle thinking there would be limited action on it. It was a Proof coin from the '30s, and the price was not far from retail. The coin was nice, but not super for the grade. The bids jumped three times on the Internet in less than a second. I said something like "wow!" in a low voice and the auctioneer said, "i'm surprised too." It ended up going for 28% over the "Coin Facts" number.
No more crazier than paying $1,575.00 for a roll of 1955 lincoln cents!
I noticed there was a run of AU58 Seated Halves in this sale. The AU58+ 1912S Liberty Nickel went for the same money as the MS66 went for.
Somebody's buried.
Sometimes that’s okay if you get the coin.
The 1889 half doesn't look like a really super AU58 based on the pics, but I have to assume it's got some incredible eye appeal in person if it sold for that kind of money. Or maybe not?
If it was me, it would need to have better eye appeal based on the pics as I mentioned, but there may be other reasons?
Thanks for the free research.
That explains the "Why".....but not the "WHY the Heck!?!?". But, the "Why the Heck" is sometimes just unknowable.....
Clashed dies on the 3 center?
Price Guide is a lot like the Bible some read things different in both.
Yeah. And it is sometimes good to remember that ONE guy reading the guide differently won't make for a wild auction. It takes two! So we either have to believe TWO people are suffering from the same mental disorder....or maybe we just don't understand what those two (or three, or four), guys know.....
Sometimes auctions are just good entertainment.
True, but this is not a very rare coin. Over a hundred graded in MS, another hundred in circulated grades, by PCGS alone. Is it the AU58 grade that is being so highly valued here?
LIBERTY SEATED DIMES WITH MAJOR VARIETIES CIRCULATION STRIKES (1837-1891) digital album