Options
What am I missing on this 1931-S Buffalo Nickel?
Maz03
Posts: 283 ✭✭✭
Cleaning out some saved auctions I once watched on GC. Came across this one I remember surprising me. It's a 1931-S Buffalo Nickel (PCGS MS-65) CAC. Without the CAC green bean, the PCGS price guide had it valued at $300 then back on Oct 31st and still does today, Greysheet at $266, and NGC at $300. What did the bidders see? CAC could not have added that much of a premium. Did two competitive bidders go nuts with the wrong year in mind without realizing it?
0
Comments
What's missing...unhappy consignor? LOL!
Seriously, I don't know. Even at the MS66 bid does not justify it.
first thing to mind. are the pops for ms65 or better cac buffs in pc holders low?
second thing is , will it make it to 66+.
i'd go deeper but don't have the link and am not up for looking it up just now. got a taco salad that isn't gonna eat itself.
The Buyers Premium alone was what the coin was worth?
"When they can't find anything wrong with you, they create it!"
Even if it was a DDR it shouldn't bring that much, but who knows what happens in an auction when two people with the wherewithal to buy want the same coin. I have seen it quite often in auctions I used to attend regularly in the 70's
Jim
When a man who is honestly mistaken hears the truth, he will either quit being mistaken or cease to be honest....Abraham Lincoln
Patriotism is supporting your country all the time, and your government when it deserves it.....Mark Twain
THis is a possibility, if two people made the same mistake. Decades ago the 1915 Lincoln cent was way overpriced because at some auction two guys both thought they were bidding on the previous lot, a 1914-D cent. The winning bid got factored into the pricing data instead of being thrown out as an obvious error, and it stuck.
A couple of bidders think this is a 67 and went for it.
My Collection of Old Holders
Never a slave to one plastic brand will I ever be.
If it was an MS67 in an MS65 slab, don't you think CAC would identify it with a gold bean instead of a green one?
peacockcoins
Once again we see people spending their money on something they don't understand. 1913-S confused with 1931-S?
Easily could have been a shill bidder against a beginner. Ouch!
Whoever is careless with the truth in small matters cannot be trusted with important matters.
Absolutely. They were betting 66 but got carried away or they went nuts for this lot
There have been many examples posted over the years where a coin with a green bean has been cracked upgraded and received a green bean again at the new higher grade. In fact I recall at least one or two that went through two upgrades and still green beaned after the second upgrade, and I have no doubt that there are many others. No firm in numismatics, be that TPG's, dealers, collectors, or giver of beans will ever be 100% consistent.
As I type this there is a thread on the first page where the member cracked a green bean rattler hoping for an upgrade, he did not get the upgrade and it failed to receive the green bean when resubmitted. Consistency in grading or beans is a hope, something to strive for but not something that should ever be expected to be obtained until coins are no longer graded by humans.
My Collection of Old Holders
Never a slave to one plastic brand will I ever be.
Looks like it may be a DDR you can see it on the “E” on the word FIVE on the bottom, but not a MS-67 maybe a MS-65+/6 that’s it. Here are some MS-67’s but maybe new blood in the grading room may push it.
Hoard the keys.
Because it is a Depression Coin, 1931-S was better struck then a lot of San Francisco coins. But the OP coin IMHOP is lucky to have made MS-65.
The central details are weak. Iron Tail's knot has no detail. Compare it to @Type2's top coin. Black Diamond's mane is also weak.
It's not my intention to slam anyone, but I wanted to put forth my opinion.
Pete
Right. Around MS-65 is when strike really starts to play into the grade. A coin needs a sharp strike to make 66 or higher if I'm correct.
"You can't get just one gun." "You can't get just one tattoo." "You can't get just one 1796 Draped Bust Large Cent."
If this were a GTG, I would have guessed 64....More wear than I would like on a 65. JMO The possible DDR may have been a factor in the bidding. Cheers, RickO
The recent thread about the 20c piece that ended up in a PCGS 67 holder contradicts this. The strike on that coin is pretty weak, especially on the obverse. I have a 63 with a far superior strike.
Edit: link to other thread https://forums.collectors.com/discussion/1070386/1875-s-twenty-cent-piece-in-pcgs-ms67-from-regency-50#latest
Nothing is as expensive as free money.
That is not wear. The lack of detail in the hair and braid is due to a weak strike.
Collector, occasional seller
The 67s posted make it sure look like 2 me that the OP coin will never get in a 67 holder in my eyes..
IMO:
This is what happens when two nuclear bids collide.
Wayne
Kennedys are my quest...
CAC price guide today is MS65: $329 MS66: $673 MS67: $21,600
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. . . . . . .
Ouch, live and learn.
Hoard the keys.
Yeah I think its a 67 play. Good luck.
This^^^
I wonder if two bidders put up their ridiculous nuclear bids thinking they'd win the coin at a somewhat "reasonable" price... ooops!
Successful BST transactions with: SilverEagles92; Ahrensdad; Smitty; GregHansen; Lablade; Mercury10c; copperflopper; whatsup; KISHU1; scrapman1077, crispy, canadanz, smallchange, robkool, Mission16, ranshdow, ibzman350, Fallguy, Collectorcoins, SurfinxHI, jwitten, Walkerguy21D, dsessom.
Why would anyone think it’s a 13-s type 2? I don’t understand that. As for the price paid I will assume it was a bidding war that got bloody. No way that coin is worth that kinda money. Must have been a couple of brainless twits going at it for all the wrong reasons.
Wayne
Kennedys are my quest...