So I just missed being the high bidder on this one (insane auction result)
ms71
Posts: 1,576 ✭✭✭✭✭
Interesting auction on Great Collections last night. A 1913 Type I Buffalo nickel in a PCGS rattler, MS65 Gold CAC. Very nice, it looked to me as if it would grade today as a solid 66, but I've seen better in 66 holders. PCGS price guide for a 66 is $250, 66+ is $375, and 67 is $950. CAC (Gold) pop is 14 in 65, 2 in 66. It was around $150 earlier in the day, I was willing to pay 66 money for it & bid it up to where the high bid was just over $250 (wasn't me). I figured it'd likely end up around 66+ money ($375), but I didn't need it at that level. I checked on it after closing. Two bidders got into a real catfight at the end (neither was the bidder who was high earlier in the day). The "winner" paid $1,827 plus the juice, total $2,055. Guess he thought it was worthy of a 67+, that one goes $2,000 in the price guide. (Disclaimer: not my intent to start a squabble about the "value" of a (gold) CAC sticker!)
Coinlearner, Ahrensdad, Nolawyer, RG, coinlieutenant, Yorkshireman, lordmarcovan, Soldi, masscrew, JimTyler, Relaxn, jclovescoins, justindan, doubleeagle07
Now listen boy, I'm tryin' to teach you sumthin' . . . . that ain't no optical illusion, it only looks like an optical illusion.
My mind reader refuses to charge me. . . . . . .
Comments
Wow... auctions can get out of control when two motivated bidders get into a testosterone tussle... Would say you likely did well to be left out.... Cheers, RickO
Sticker mayhem. I ended up with a couple decent coins last night. Ian has a great venue.
This is a very interesting thread......thanks for sharing.
I like the coin, the holder and the gold sticker, too, but NOT at that level.
Amazing what people will pay for certain items based solely upon the 'prestige' or 'allure'.
Ego, adrenaline and testosterone sometimes come into play, as well.
Sometimes, it’s better to be LUCKY than good. 🍀 🍺👍
My Full Walker Registry Set (1916-1947):
https://www.ngccoin.com/registry/competitive-sets/16292/
the owner of the cpin definitely chose the right place to sell it, that same coin on a no reserve on e bay would of been well under 500
Here is the auction.
I love Gold CAC, but this is crazy. The last 67+, not counting the amazingly toned example at Legend, sold for under $1000. This coin sold for $2055 and is a 65. 65's sell for $125 or so.
.
.
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It's insanity.
@basetsb_coins on Instagram
Over $2,000 is nuts for that coin. At least when I went crazy with bidding it was a rare coin like an 1855-D gold dollar.
Wow!!!
wow Nice venue to sell gold cac stickers! I bet the seller is pleased! Nice coin!
Good luck avoiding the squabble about CAC value. LOL. But this is exactly the kind of result that show how ridiculous CAC love can be in the market place. A 65 Gold should probably bring 66 money. Sight seen it MIGHT bring close to 67 money if you are in love with it. Sight unseen with 67+ money...ridiculous.
Wow, that is nuts!!! I have seen similar things happen with cardboard (baseball cards), when 2 people just got to have it.
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)
there might be a return on this coin, if the buyer does any research on it
There was no football or basketball on Sunday night, so the drunk gamblers need to do something!
The consigner must be very happy about that result.
I hope they refuse that return. It's not fair to the consigners and the underbidders to let a guy walk after he has pushed up a bid like this.
If you let people walk with the excuse, "I bid too much," the auction industry will be a big trouble.
Think what you will about the effect of CAC stickers, green or gold (I don't have a dog in that fight); but without the sticker no way would this coin bring anything over $250-$350 tops. And it wouldn't have been easy to get that kind of money out of it.
Coinlearner, Ahrensdad, Nolawyer, RG, coinlieutenant, Yorkshireman, lordmarcovan, Soldi, masscrew, JimTyler, Relaxn, jclovescoins, justindan, doubleeagle07
Now listen boy, I'm tryin' to teach you sumthin' . . . . that ain't no optical illusion, it only looks like an optical illusion.
My mind reader refuses to charge me. . . . . . .
Stupid money for a common date coin.
I do slightly dumb things at times to acquire coins in old, gold-bean holders. I do it when I really believe in the coin and feel there is still some upside potential.
I can see this bid if it was insanely toned (it isn’t), if multiple bidders had seen it and thought it had huge upgrade potential (not likely), or if the coin was insanely difficult to find at that grade level (these show up all the time at 67 it even 67+).
In this case, I wish I was the consignor.
For the record this 1913 Type I Buffalo nickel in a PCGS OGH, MS66 Green CAC just sold on ebay for $165: https://pcgs.com/auctionprices/item/1913-5c-type-1/ebay/MS66ogh/green/cac
To me, the ebay coin VanHalen posted the link for is the better coin. It went for 12.5% of the GC coin's cost. The gold bean on the GC coin reflects JA's opinion that the GC coin would qualify as a green bean 66, comparable to the ebay green bean 66 - which was had for 1/8 the cost. It beggars belief.
Coinlearner, Ahrensdad, Nolawyer, RG, coinlieutenant, Yorkshireman, lordmarcovan, Soldi, masscrew, JimTyler, Relaxn, jclovescoins, justindan, doubleeagle07
Now listen boy, I'm tryin' to teach you sumthin' . . . . that ain't no optical illusion, it only looks like an optical illusion.
My mind reader refuses to charge me. . . . . . .
Ugly implication and very mean-spirited.
Shouldn't you have sabotaged this item before it went under the hammer?
Palice? Public-spirited?
Uncivil enough for Twitter
I had been watching that coin for over a week. I was ready to put up a decent bid, until I checked on the auction an hour before it ended and saw that the bidding had hit the $1500.00 level. I had to shake my head and walk away. I've got a 65 in a Doily that I feel is equal if not better than that one.. WOW....
Question: Are there people putting together "Gold Bean" sets?
I mean, look at the "Lowball" concept did to Poor coins, and the "Everyman" did to AU-58's. They generate excessive bids simply BECAUSE they are the "right" grade.
If a small group are doing "Gold" sets, then maybe that explains it. The quality of the coin doesn't matter! IT HAS THE GOLD BEAN!!!
There certainly seems to be a few collectors who lose their marbles when they see a gold CAC sticker. They'll pay more that piece than it would bring if got to the next grade level from a crack-out. That makes no sense to me.
I once spotted a gold dollar at a show that looked like a Proof. I asked about the price, and the dealer's number was the same as if the coin was in a Proof holder. I think you would be pretty foolish to take that deal. The dealer gets all money as if the coin came back as a Proof, and you take on all the risk if it doesn't. The same concept applies here.
AND A RATTLER
Goodbye Brasher Doubloon. You've been usurped.
I agree with you 100 percent, I have never returned one single coin in my life, it happens to me as a seller though and they use the excuse "something come up" and dings my best seller status
Geez, insane !!!
If there are just two people doing "Rattler gold bean" sets, this kind of thing could easily happen.
I moderately overpaid for a few coins when I put together a green label commem set because a few issues were very hard to find at the time, such as a nice Grant in an OGH.
Commems and Early Type
It’s not just that it’s a CAC gold sticker. It’s the holder as well. The whole package. To some it matters. Yes that’s a lot of cabbage for the coin. Congrats to the buyer and seller. The seller would be the one doing backflips down the street.
m
Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
If only I had a 1913 type 1 Buffalo in an NGC MS65 no line soap bar fatty with a gold bean!
Oh wait.
I do
--Severian the Lame
No one person should have that much power over the market!
"Got a flaming heart, can't get my fill"
If that same coin would have a gold sticker on a newer holder it would have sold for A LOT less. It’s the total package. I think there are quite a few people putting a box of 20 together of older holders with gold stickers. Why? It’s fun and challenging and isn’t that what collecting is all about.
Don’t get hung up on this is just because it has a gold sticker because it’s just not the case. No one is forcing anybody into this sandbox/ genre. It represents such a minuscule part of the market. It’s a niche
mark
Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
I know, I know, everyone is writing how ill-informed the buyer of this coin is for paying this much. However, an MS68 1913 Type I Buffalo is approximately a $10,000 coin and the images that I saw of this piece make it look like a clean luster-bomb, which is a good start toward the MS68 grade.
If GC allows in-hand inspection of lots prior to sale, such as at shows, then it could be that two or more very astute graders (crackout artists) might have viewed it in-hand and decided it was well worth the risk. For those of you who think this is a far-fetched scenario where an old holder with a gold CAC sticker gets bid up multiple levels, I have seen it happen firsthand and have seen the auction winner rewarded handsomely.
In honor of the memory of Cpl. Michael E. Thompson
As a general matter I agree with you; however, there appears to be three ticks on the bison's upper leg when you zoom in that make me think that a MS68 grade is unlikely.
I sure hope he didn't buy it thinking it was a 68. I give it zero chance of that. They are not handing out 68's like they used to!
"Yeeeep! Yeeeep! Yeeeeep! I stuck it to him!" Excerpt from the storage war's scene!
Hey Hester, I think Darrell and Brando Sheets were in the audience running you up! Lol
Sometimes, it’s better to be LUCKY than good. 🍀 🍺👍
My Full Walker Registry Set (1916-1947):
https://www.ngccoin.com/registry/competitive-sets/16292/
Very nice coin and one of the best holders and stickers....Expect this one to be added to their hall of fame and in ads with stunning results.
A good common date liberty nickel sells for well over $100 in a sample slab. I suspect they are buying the holder/sticker. Not sure there is any desire to attempt a re-grade.
¿Competing nuclear bids?
Second highest underbidder was at $357 hammer so it looks like it.
Sometimes, when you throw in a nuclear bid, someone else will call your bluff, so you better be willing to pay the piper.
My guess is that the coin was not purchased with an upgrade in mind. I think somebody was completely enamored by the slab and the gold sticker and possibly putting together some sort of collection with this combination of both.
Some people don't care about market price and are willing to pay up for something that they really want.
Sometimes, it’s better to be LUCKY than good. 🍀 🍺👍
My Full Walker Registry Set (1916-1947):
https://www.ngccoin.com/registry/competitive-sets/16292/
In the same GC auction there was a Connecticut commemorative in an MS-65 rattler holder and a gold CAC. This coin also went for strong money, $700 plus the commission. I don't believe it was purchased for an upgrade, rather Connecticuts seem to be very scare in rattler holders.
carolinacollectorcoins.com
Insane lol. Looks like somebody made a killing. It’s crazy what some of them will bid up.
I don’t bid /offer above the grade on the holder. My max bid on it $140.
My take - if it’s worth 67 money it needs to be in a 67 holder.
Its the rattler holder and gold bean, and bidders where funds are no object, they just want it
The way I bid on Roosies I like disqualifies me from commenting on paying too much.
rainbowroosie April 1, 2003
Yes, I agree. My guess is this is more about the holder and the gold sticker than the coin. Some people collect holders and stickers. Go figure.
LIBERTY SEATED DIMES WITH MAJOR VARIETIES CIRCULATION STRIKES (1837-1891) digital album
So you will not be owning and gold CAC coins then!
(Or many green ones either these days!)
I rather think that the consignor thougt he had a fish on the line........and bought his own coin. Just pushin his luck.
OINK
Even if that libel were true, there is an underbidder one increment below. Unless you would like to expand your libel to include the consignor shilling against himself just for fun because he doesn't mind the charity donation to Ian.