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Inexplicable GC auction result...
jmlanzaf
Posts: 32,844 ✭✭✭✭✭
Why don't my coins ever sell this way?
3
jmlanzaf
Posts: 32,844 ✭✭✭✭✭
jmlanzaf
Posts: 32,844 ✭✭✭✭✭
jmlanzaf
Posts: 32,844 ✭✭✭✭✭
jmlanzaf
Posts: 32,844 ✭✭✭✭✭
Why don't my coins ever sell this way?
Comments
It isn't even attractive. Good grief.
P.S. Here is the one that shocked me the most:
https://www.greatcollections.com/Coin/581700/1925-Peace-Silver-Dollar-PCGS-MS-64-Toned
This Peace Dollar looks environmentally damaged and AT to me.
I kind of like the CT though.
Not as much as the new owner did, but I think it's rather unusual in a cool way.
Geez. I think it might be time to sell my collection.
Wow, I really don't get those prices.
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)
Too much moolah!
Insert witicism here. [ xxx ]
I kinda like both of them !!!
Any of you guys see either of them in hand?
Coin Rarities Online
Wow.... Those are significant prices....Cheers, RickO
Simple, one of the crack out guys probably saw it and graded it MS67. They have great imaginations sometimes. Its also a known fact, NGC has been tight lately too.
Also, Ian has really been getting great coins over the past couple of years, big time buyers and sellers have really taken notice with GC. A majority of there auction prices realized are quite good. Honestly, when the time comes to sell my collection, I am probably going that route. I do pick up a new coin here and there, and sometimes to help offset the cost of a new acquisition, I sell one I can stand to let go. I have a couple of national dealer friends that I Like and sell too. And I am in the business locally, so I don't mind these folks needing to make a profit, that's what there in business for. But there have been several times where I sold a particular piece, then a few month later, my old coin shows up on GC, and kicks butt.
Mixed bag. I have two dealer friends who got scalped at GC and will not consign to them anymore. I buy coins from GC every week and put them on eBay and get better money for them. Other times...well, see above. I would not fall in love with any particular venue. Some things are better at GC, some things are better on eBay, some things are better at Heritage or Stack's, and some things are better over the counter to a dealer. A $40-$50 Morgan will get you killed at any of the sites listed, you'd be better served over the counter to a dealer in most cases.
If you look at the bidding, the third person was at $255. This looks like a case where two people really liked the coin and went nuclear with their bid, not expecting another person to do the same.
quite probably, but $500 should have been nuclear enough! LOL.
I bet that the Connecticut looks better in hand and the CAC endorsement plus the older NGC slab helped it along.
The Peace dollar is amazing.
“I may not believe in myself but I believe in what I’m doing” ~Jimmy Page~
My Full Walker Registry Set (1916-1947):
https://www.ngccoin.com/registry/competitive-sets/16292/
Would anyone have seen it in hand? Does GC do viewings?
It's a 65 CAC with original toning. 5 times greysheet seems excessive. They are almost at 67 CAC money. 66 CAC is only $500. That toning is not uncommon on the Connecticut because of the original holders. Here's a couple 66 CACs for less than half the 65 CAC from yesterday, including one in an old NGC holder.
https://coins.ha.com/itm/commemorative-silver/classic-commemoratives/1935-50c-connecticut-ms66-pcgs-cac-pcgs-population-524-65-ngc-census-0-0-mintage-25-018-numismedia-wsl-price-fo/a/1216-11968.s?ic4=ListView-ShortDescription-071515
https://coins.ha.com/itm/commemorative-silver/classic-commemoratives/1935-50c-connecticut-ms66-ngc-cac-ngc-census-460-65-pcgs-population-491-54-mintage-25-018-numismedia-wsl-price/a/1191-8759.s?ic4=ListView-ShortDescription-071515
what did they get scalped on? I would be curious to see. Were they ugly widgets? nice looking coins? could it be that the market from when they purchased the coins happens to be down 20-30% in many categories?
yes- for $40-$50 items I would not choose GC specifically-but on the other hand if you are looking to just move the stuff, a 10% loss or even 20% is only $8-$10 per coin which isnt to bad to deal with than on larger coins
They got scalped on nice looking widgets. They ended up netting less than dealer wholesale. Again, I'm not arguing against GC, I'm arguing against GC (or anyone else) as the best place for everything.
On $40 or $50 coins, dealer wholesale is usually only 10-20% back, so you get paid quicker with less risk selling over the counter. IMHO. Of course, you also lose the opportunity for an "inexplicable result".
You can view the coins, also Ian will look at the coin for you and give his honest opinion via phone or email.
Good to know. Thanks!
No, but GC is essentially an internet-only auction, meaning that likely nobody saw them in hand, including those that ran the Peace dollar up to $4300 with the vig. Now, I fully understand that it is possible to view GC coins if they have them at a show as "highlights to come" or if you make an appointment at their office, but while a lot of people here are saying they don't like the toning from the pictures (I am slightly positive on the CT, and generally perplexed on the Peace dollar from the pictures), I don't believe that all 8 bidders that placed $1000+ bids on the Peace dollar saw it in hand, either.
Instead of saying to myself, "Those coins must look a lot better in hand than I think they do," I'm thinking, "Those coins had better look a lot better in hand than I think they do."
Keeper of the VAM Catalog • Professional Coin Imaging • Prime Number Set • World Coins in Early America • British Trade Dollars • Variety Attribution
I like the coin also. I bid on it. But there's no way (in my mind) that it is worth $1750!
Any idea what coins they were? maybe even a link?
We have viewing four days a week (by appointment) - and apart from local clients, collectors/dealers regularly fly into John Wayne Airport, which is conveniently a few minutes from our office. We also take highlights to major shows.
Owner/Founder GreatCollections
GreatCollections Coin Auctions - Certified Coin Auctions Every Week - Rare Coins & Coin Values
No. In one case they were common date Morgan $s (64/65) mostly. In the other case, they were mostly 20th century Type (Walkers, SLQs)
Are you defending the Peace Dollar as being natural? P.S. There are also True Views for that one that look even more damning.
i have a ct. commem as well but i would not buy at that price either. jmo and still like the coin
You go first. If the coin wasn't an outlier and yours do well, I'll follow your lead.
Geez. I think it might be time to sell my collection.> @specialist said:
There was a stiff markup on a toned P$ in one f your auctions recently as well. Would be nice if thats where the market is. But I dont think it is.
both coins look terrible to me, jmho
Sadly I agree. We can both dream though.
I don't understand the appeal either. (But to each his own.)
Smitten with DBLCs.
Crazy--since objective criteria are almost impossible on these, what is to keep them going closer to GS next time?
The video of the Peace Dollar was on instagram:
That light show is giving me a headache!
Earth tones (rust/brown/gold) are colors, but they are not colorful IMO. I'm more likely to understand why someone chased the Peace dollar than I am the Connecticut. The truly colorful classic Commemoratives are usually high grade and extremely expensive.
I'm going to sound like @specialist for a minute, but at least the Connecticut has a CAC sticker. The Peace Dollar looks blatantly AT to me. If cracked, it would probably take several submissions to get it to straight grade again if it ever would.
Red and purple like that are not natural color progressions IMHO.
Who needs a TV if you can have a coin like this? Imagine, mom, dad, the kids, the family pets, etc. sitting around gazing at the coins for hours instead of cable tv.
Unless the photos of the CT are inaccurate or don't tell the tale, I don't get it. I like the obverse, hate the reverse, Would not pay a premium at all, especially considering the commem market.
The $1. This is one coin I would want CAC to consider first.
>
Like saying Titanic has a new set of lifeboats.
The Connecticut screams unfutzed originality. Each issue has its own "look" and this is it for Connecticut, although from the pictures, it's not a $1700 look to me. The bids show two nuclear bids colliding, with the next highest at under $300.
Keeper of the VAM Catalog • Professional Coin Imaging • Prime Number Set • World Coins in Early America • British Trade Dollars • Variety Attribution
disagree
...it was Gold Shield...the TV was 5 bucks
Not defending anything, simply asking a question.
Coin Rarities Online
Do they plan on recalling the Stack's 57th street coins for reconsideration?
All TPGS are flawed and make mistakes. If they didn't, there wouldn't be a CAC [though I hate to even mention those 3 letters, LOL]
Anyone have an idea on how many pieces were in the Stack's 57th Street collection? 100? 1,000? 5,000?
1,000,000 plus.