1794 SP66.....

Boosibri · October 8, 2020 4:49PM

Passed. That was painful to watch.

ms70 · October 8, 2020 4:52PM

You swallowed it?

SmEagle1795 · October 8, 2020 4:54PM

The auctioneer really tried his hardest to get a bid. I'm surprised the $10 didn't sell; a really incredible coin - auctions need to post more videos of coins to show luster rather than static images.

Boosibri · October 8, 2020 4:54PM

Agree, I loved the $5 and $10.

marcmoish · October 8, 2020 4:57PM

Was really painful indeed.

Some of his gems selling for well below estimates and previous records - whoa moments!

For example Lot 14 sold for literally half of previous record.

oldUScoins · October 8, 2020 5:00PM

Wonder what happens next. Try to auction it again in a few years?

earlyAurum · October 8, 2020 5:01PM

it's sad to see how weak this is.

fluffy155 · October 8, 2020 5:12PM

1804 passed as well. Was Legend the right venue for this collection?

bidask · October 8, 2020 5:14PM

If i had the extra cash I would definitley bought the 1794 dollar....no doubt about it!

earlyAurum · October 8, 2020 5:15PM

I don't think it is venue. You need a couple of collectors in building sets requiring these types of coins. Without Simpson, Bruce, Pogue and Jung chasing these coins at the same time, these are the results.

cnncoins · October 8, 2020 5:34PM

earl

cnncoins · October 8, 2020 5:36PM

earlyAurum said it well. Most of the big collectors are out at this moment. Very tough to watch.

Wahoo554 · October 8, 2020 5:36PM

I wonder how many of these coins will be purchased by Hansen.

cnncoins · October 8, 2020 5:39PM

His Bust Dollars seemed to go to different bidders. Maybe a couple of bidders bought multiple coins.

Boosibri · October 8, 2020 5:47PM

Good time to start a high end Bust Dollar collection

Zoins · October 8, 2020 6:14PM

@earlyAurum said:
I don't think it is venue. You need a couple of collectors in building sets requiring these types of coins. Without Simpson, Bruce, Pogue and Jung chasing these coins at the same time, these are the results.

Who are the big collectors now?

Hansen, Tyrant, others?

earlyAurum · October 8, 2020 6:19PM

@Zoins said:

@earlyAurum said:
I don't think it is venue. You need a couple of collectors in building sets requiring these types of coins. Without Simpson, Bruce, Pogue and Jung chasing these coins at the same time, these are the results.

Who are the big collectors now?

Hansen, Tyrant, others?

I don’t know others but the ones I mentioned are out.

tradedollarnut · October 8, 2020 6:34PM

I’m personally ecstatic that it did not sell at the minimum bid. Finding out about the striking ceremony presentation and forwarding of a coin to Washington AFTER consigning the coin made my heart sink. Seeing all the coins one last time right before the sale made it sink even more.

I’ll be happy with my box of 3.

Currin · October 8, 2020 6:42PM

@tradedollarnut said:
I’m personally ecstatic that it did not sell at the minimum bid. Finding out about the striking ceremony presentation and forwarding of a coin to Washington AFTER consigning the coin made my heart sink. Seeing all the coins one last time right before the sale made it sink even more.

I’ll be happy with my box of 3.

A better trio can not be found, anywhere.

SkyMan · October 8, 2020 6:42PM

@1peter1223 said:

@earlyAurum said:
I don't think it is venue. You need a couple of collectors in building sets requiring these types of coins. Without Simpson, Bruce, Pogue and Jung chasing these coins at the same time, these are the results.

Yes and the Pandemic world/economy we live in was a HUGE factor .

Btw- I bet more collections with Uber rarities will be on the market fairly soon .

Pandemic relief $ is still trickling through the economy , once it starts to dry up we will see how things really are .

I TOTALLY disagree. If you've got the scratch to buy these coins, the pandemic isn't going to affect you in the least, and you certainly aren't worried about pandemic relief. There are plenty of people dumping plenty of money in assorted collectible fields right now.

One of the great oddities of this pandemic is that the stock market is right about the same value that it was at the start of the year. I don't trust the Dow's value given it's shake up in stocks over the last year, but the S&P 500 is a broad enough portfolio to give a pretty good eyeball at the market. It's actually (minimally) up since the start of the year, and up over 10% over the last full year. So those that have money still have money, and the more intelligent of them have a diversified portfolio of asset classes.

GoBust · October 8, 2020 6:42PM

You've got the best box of 3 ever imagined Bruce! That George Washington connection that emerged after you put the coin up for auction was really historic news that closely ties it as an important early federal Washington artifact more so than just an amazing coin.

Zoins · October 8, 2020 6:43PM

@tradedollarnut said:
I’m personally ecstatic that it did not sell at the minimum bid. Finding out about the striking ceremony presentation and forwarding of a coin to Washington AFTER consigning the coin made my heart sink. Seeing all the coins one last time right before the sale made it sink even more.

I’ll be happy with my box of 3.

Awesome coins Bruce!

I'm also glad they didn't sell for the minimum price. That would be a sad result. Much better to keep them.

braddick · October 8, 2020 6:43PM

Nice to have a "second chance" at owning a coin that is enjoyed!

Walkerfan · October 8, 2020 6:58PM

@Currin said:

@tradedollarnut said:
I’m personally ecstatic that it did not sell at the minimum bid. Finding out about the striking ceremony presentation and forwarding of a coin to Washington AFTER consigning the coin made my heart sink. Seeing all the coins one last time right before the sale made it sink even more.

I’ll be happy with my box of 3.

A better trio can not be found, anywhere.

Agree. You were able to raise money from the sale but still got to keep the three best coins. I think that’s called being able to ‘have your cake and eat it too’. 😉 Best possible result, in my humble opinion. The Washington connection further sweetens the pot, as well. You are very lucky.

tradedollarnut · October 8, 2020 7:45PM

@fluffy155 said:
1804 passed as well. Was Legend the right venue for this collection?

My reserves were too strong for the market conditions. But I’m glad I had them based on a few results. I’m happy with my box of 3.

Boosibri · October 8, 2020 8:02PM

@tradedollarnut said:

@fluffy155 said:
1804 passed as well. Was Legend the right venue for this collection?

My reserves were too strong for the market conditions. But I’m glad I had them based on a few results. I’m happy with my box of 3.

So, what will you collect next?

tradedollarnut · October 8, 2020 8:41PM

@Boosibri said:

@tradedollarnut said:

@fluffy155 said:
1804 passed as well. Was Legend the right venue for this collection?

My reserves were too strong for the market conditions. But I’m glad I had them based on a few results. I’m happy with my box of 3.

So, what will you collect next?

Silver dollar ultra rarities

SanctionII · October 8, 2020 9:21PM

If TDN is pleased with the outcome that is all that matters.

Love your box of three.

On to your next project. Have a blast while working on it.

abcde12345 · October 8, 2020 9:21PM

@tradedollarnut said:

@Boosibri said:

@tradedollarnut said:

@fluffy155 said:
1804 passed as well. Was Legend the right venue for this collection?

My reserves were too strong for the market conditions. But I’m glad I had them based on a few results. I’m happy with my box of 3.

So, what will you collect next?

Silver dollar ultra rarities

I saw a tray of Ike dollars at a pawn shop the other day. I'll go back later in the week and see if there are any toughies in there.

SeattleSlammer · October 8, 2020 9:49PM

I was surprised someone didn’t grab it for 7M (8.225 w/juice)....seems like it would have been a score for that person, with likely future sale at significantly higher level...as the unique history of the coin sinks in further over the next several years.

But it is also nice to know it’s with a genuine coin lover .... and not sitting with an investor cone-head who bought it solely to flip and could care less about its special aspects.

Unknown · October 8, 2020 10:36PM

This content has been removed.

1northcoin · October 9, 2020 12:34AM

@tradedollarnut said:
I’m personally ecstatic that it did not sell at the minimum bid. Finding out about the striking ceremony presentation and forwarding of a coin to Washington AFTER consigning the coin made my heart sink. Seeing all the coins one last time right before the sale made it sink even more.

I’ll be happy with my box of 3.

Well said and for the doubters TDN's sentiment definitely erases any question about his being a collector.

291fifth · October 9, 2020 6:24AM

Overall, and not considering the three coins that did not sell, how did the auction do when the buyer's fee was added in to the hammer price? What was strong, weak or about the same?

brg5658 · October 9, 2020 6:53AM

@291fifth said:
Overall, and not considering the three coins that did not sell, how did the auction do when the buyer's fee was added in to the hammer price? What was strong, weak or about the same?

This.

Bruce co-owns Legend right? So hammer isn't the price to compare to, it's the full juiced (17.5%) price for comparison.

Even with a "reserve" of $8 million on the 1794, that was an effective starting bid of $9.4 million with juice. So basically the reserve was set at almost what it sold for previously. Doesn't seem they were too worried if it didn't sell. Just hold and try again later.

Boosibri · October 9, 2020 6:56AM

@brg5658 said:

@291fifth said:
Overall, and not considering the three coins that did not sell, how did the auction do when the buyer's fee was added in to the hammer price? What was strong, weak or about the same?

This.

Bruce co-owns Legend right? So hammer isn't the price to compare to, it's the full juiced (17.5%) price for comparison.

Even with a "reserve" of $8 million on the 1794, that was an effective starting bid of $9.4 million with juice. So basically the reserve was set at almost what it sold for previously. Doesn't seem they were too worried if it didn't sell. Just hold and try again later.

Reserve, or opening bid as it was termed, was $7M, or $8.225M.

PQueue · October 9, 2020 6:59AM

You do not put items in an auction hoping they do not sell.

brg5658 · October 9, 2020 7:10AM

@Boosibri said:

@brg5658 said:

@291fifth said:
Overall, and not considering the three coins that did not sell, how did the auction do when the buyer's fee was added in to the hammer price? What was strong, weak or about the same?

This.

Bruce co-owns Legend right? So hammer isn't the price to compare to, it's the full juiced (17.5%) price for comparison.

Even with a "reserve" of $8 million on the 1794, that was an effective starting bid of $9.4 million with juice. So basically the reserve was set at almost what it sold for previously. Doesn't seem they were too worried if it didn't sell. Just hold and try again later.

Reserve, or opening bid as it was termed, was $7M, or $8.225M.

Good to know. I heard wrong ATS then.

brg5658 · October 9, 2020 7:11AM

@PQueue said:
You do not put items in an auction hoping they do not sell.

When you own the Auction company, what's the risk?

MrEureka · October 9, 2020 7:13AM

As has been said, the market for mega-coins has softened because too many of the whales have been selling. Then again, the market for these coins ran up strongly while some of the same whales were buying.

IMHO, the mega-coins are still a little too expensive compared to the rest of the market, but they’re starting to get tempting. So even at the lower levels, I’d say the auction was reasonably strong.

jdimmick · October 9, 2020 8:05AM

Bruce,

the three you ended up keeping would be a pleasure to own period.

tradedollarnut · October 9, 2020 8:10AM

@PQueue said:
You do not put items in an auction hoping they do not sell.

Not necessarily true. I added the 1804$1 to the auction knowing that I didn’t want it to sell but feeling it needed to be there to show the full stature of the set.

Subsequent to consignment, I found additional information that made the 1794 even more desirable. Thus I was relieved when it didn’t sell at the minimum bid though I would have been pleased at a runaway bid.

I hope you can appreciate the nuances here.

Zoins · October 9, 2020 8:11AM

@tradedollarnut said:

@PQueue said:
You do not put items in an auction hoping they do not sell.

Not necessarily true. I added the 1804$1 to the auction knowing that I didn’t want it to sell but feeling it needed to be there to show the full stature of the set.

Subsequent to consignment, I found additional information that made the 1794 even more desirable. Thus I was relieved when it didn’t sell at the minimum bid though I would have been pleased at a runaway bid.

I hope you can appreciate the nuances here.

I agree 100%. There's an important aspect to putting the entire set there to generate interest and buzz. And also not wanting coins to sell at minimum bid.

Crypto · October 9, 2020 8:12AM

Cheers to the consignor, enjoying the ride even over the bumps is half the battle. You can't lose when you love what you're doing.

SanctionII · October 9, 2020 9:52AM

TDN.

What was the additional information about your 1794 dollar that you found out about?

tradedollarnut · October 9, 2020 9:55AM

@SanctionII said:
TDN.

What was the additional information about your 1794 dollar that you found out about?

The striking ceremony with a presentation coin given to the Secretary of State...forwarded to George Washington the next day.

If you knew the secretary of state was coming and you were going to give him a coin, you would make it the best coin possible

SanctionII · October 9, 2020 9:59AM

TDN.

Thank you for the information.

Is there anything in this new information that indicates your 1794 dollar is the presentation coin?

If so, that is a fantastic development that makes your coin even more special.

Zoins · October 9, 2020 10:03AM

@tradedollarnut said:

@SanctionII said:
TDN.

What was the additional information about your 1794 dollar that you found out about?

The striking ceremony with a presentation coin given to the Secretary of State...forwarded to George Washington the next day.

If you knew the secretary of state was coming and you were going to give him a coin, you would make it the best coin possible

That's awesome! You need to get a new slab with a new provenance:

"Washington - Morelan"

And PCGS should do you a solid and return this to the 00001794 cert number.

ElmerFusterpuck · October 9, 2020 10:04AM

While the big 3 still belong to Bruce, some of the other coins in the auction went nuts, percentage wise. A nicely toned common 1858 in AU-50 with a gold stick went far over guide. The 1872 half dime in AU-58 green stick was nicely toned, but went pretty far up. The toned Morgans seemed to do very well too.

CalifornianKing · October 9, 2020 10:05AM

@tradedollarnut said:

@SanctionII said:
TDN.

What was the additional information about your 1794 dollar that you found out about?

The striking ceremony with a presentation coin given to the Secretary of State...forwarded to George Washington the next day.

If you knew the secretary of state was coming and you were going to give him a coin, you would make it the best coin possible

How did you find that out? and when/where was it released. Cause a quick google search for "numismatic news" is showing nothing about your collection sale. You have a one of a kind collection. I'd love to see any of your coins in person even behind bullet proof glass!

PerryHall · October 9, 2020 10:26AM

@tradedollarnut said:

@SanctionII said:
TDN.

What was the additional information about your 1794 dollar that you found out about?

The striking ceremony with a presentation coin given to the Secretary of State...forwarded to George Washington the next day.

If you knew the secretary of state was coming and you were going to give him a coin, you would make it the best coin possible

Is that why the mint selected a planchet with heavy adjustment file marks to strike this coin?

tradedollarnut · October 9, 2020 10:46AM

Adjustment marks meant very little at the time. Practically every large coin had them

1794 SP66.....

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