NEWP: Super Original 1921 High Relief Peace... a 34-Point Downgrade!
airplanenut
Posts: 22,404 ✭✭✭✭✭
I sell tons of coins on consignment, and lucky for me (or at least my wallet), rarely do they intersect with my collecting interests. But every once in a rare while, a coin comes to me and I love it and it's a perfect fit. This is one of those coin. I was quickly sorting a stack of slabs and did a double-take. I love high relief Peace dollars, but even among examples that are original (or at least not overtly unoriginal), circulated examples often come rather light in color. This one is a deep grey that shows some dark red/brown hues depending on how it's lit, and just screams original (it's graded PCGS VF30). I sent a message to my consignor to say I was interested and wanted his blessing for me to arrange a bid to be placed on my behalf, and am glad he said yes.* My bid won, I got amazingly fast shipping from one box on my desk to another box on my desk, and am very happy to call this one mine.
My other example, which I bought a few years ago, is graded MS64. The coins are radically different in terms of grade and appearance, but both, to me, are wonderful examples of original coins with great eye appeal. The new coin may be a 34 point downgrade, but the MS64 isn't going anywhere.
*To expand on the situation for a moment, I recognize that bidding on an item I've been consigned presents a conflict of interest. While I think that more bids should be generally seen as a good thing, I don't feel it's right to have a bid placed for me without my consignor knowing. I've had this situation come up a few times, and while I've never had a consignor say no, it's important for me to ensure my consignor is aware and approves. I also don't see this as shill bidding in any way as I don't own the coin, and if the bid placed for me wins, I pay in full like any other bidder would. I would never have a bid placed on my behalf just to raise the price with no intention of paying if won.
Comments
Classy move, Jeremy, but after several transactions with you over the years, I am not surprised.
Don't auction companies (or people that represent them) bid on coins in their own auctions (and give themselves the right to do so via their terms)? This seems similar (in fact more open as you mentioned it to the consignor instead of burying it in some long contract) and I see no problem. If you weren't bidding, the consignor would have netted less. Congrats on adding a cool coin to the collection!
Yes they do.
As long as the bid is made with full intentions of paying for it and keeping the item, I have zero problem with this.
"It's like God, Family, Country, except Sticker, Plastic, Coin."
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Very well done on a nice upgrade.
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
Sweet!
I like the planchet flaw on the obverse within GOD.
peacockcoins
This doesn't bother me @airplanenut because your a good honest guy. Sounds like a win win. When the big auction houses do it, that's another matter for me personally.... Congrats!
Yes, but the one possible difference I see is scale. It's easy for me to imagine the person/people writing the description and taking the photographs being separate from the one at the auction house deciding to buy the coin for inventory. Since I'm a one-man show, the conflict I most want to avoid is having someone think I may have played down the coin or taken a less than flattering image to suppress bidding. I think/hope that by asking ahead of participating, it would make it clear that I'm not trying to hide anything or do anything untoward for my personal benefit.
Very nice circulated Peace Dollar! The MS is nice in its own right.
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I love that look on a circulated Peace dollar. Your actions are perfectly fine IMO the way you described it.
Here’s a similar coin that caught my attention a few years ago. I have a weakness for these things.
Both are gorgeous!
https://www.autismforums.com/media/albums/acrylic-colors-by-rocco.291/
awesome choice, I like 👍
@airplanenut ... I believe you handled it correctly and I really like the coin in the first set of pictures - is that the representative appearance in hand? Cheers, RickO
I've said it a million times, but that's my favorite look for old circ. silver. Congrats!
Nice purchase. Both coins are keepers.
Looking foward to the PO1 you purchase for your next "downgrade"
Both sets of photos are representative of the coins in hand... which is why I expect you'd love both
I don't think it's necessary to ask for permission. I just think that if you're planning on bidding, you should be extra careful to post good images and descriptions.
Also, BTW, I think you should sell the 64 and take a nice profit. You'll have no problem finding something great to buy with the money, and you don't really need two of anything.
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
I am always extra careful in those situations.
As for the 64, I really, really like the coin, and if I had something to spend that money on (and something I would spend the money on), I could have it available without parting with a favorite.
Very nice coin and that was very honest of you.
Hoard the keys.