When your nuclear bid doesn’t win?
TheCuyunaCollection
Posts: 26 ✭✭
I can’t help but think to myself if I had just raised my max bid another $100, I would have had the highest bid. I can’t help but wonder what their max bid was.
Interested to hear other’s stories of when you thought you put in a max bid that was almost a given that you’d win but someone else was still willing to pay more.
Today, I missed out on an awesome 1847 Seated Liberty Dollar CAC XF 45 with some toning that I really really liked. I’ve been trying to complete my Dansco 7070 registry set and the two Seated Liberty dollars have been very tough to find both attractive and affordable (for me at least) examples. Until the next one pops up!
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Comments
When your nuke doesn't win, you made someone pay more for a coin than you were comfortable paying. Never know when one might be the last date needed to complete someone's set and it matched their set nicely. They can pay well.
When I did prooflike Morgans, I often used nuclear bids. For instance, I needed a 1901 and there was only one certified DMPL. It had not been on the market before, so where the bids would go was the Wild West. I nuked and won and later made good $$$ on the coin when I broke up the set. I'd only nuke such coins, never one that appears on the market with any regularity.
Welcome TheCuyunaCollection
I too lost a coin tonight, nothing like yours, but still I lost it. It went for over double value. Like you, I don't know what there high bid was, but I made them pay up for it
I'll just move on to the next challenge as should you.
Good Luck
Mike
My Indians
Dansco Set
People their around nuclear bid all the time. Some people's idea of nuclear is 10% over guide. In that case, a LOT of "nuclear" bids lose, especially in a rising market.
Tell me you bid 5x guide...
How often does a nuclear bid result in someone getting buried in a coin?
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
Dig me up and I'll tell you.
Good point. I’d imagine buyer’s remorse sets in soon after.
"I spent 50% of my money on alcohol, women, and gambling. The other half I wasted.
I find relief in knowing that I really made them pay up for it (assuming I’m the underbidder).
I lost a PCGS modern coin bid last night to a coin that went for $1,293 with a price guide of only $385 or 3.4X.
I thought my $1,000 bid was a nuclear fission bid as I wanted it pretty bad, but two others had thermonuclear bids and blew me away.
My US Mint Commemorative Medal Set
Congratulations! And I sincerely mean that.
Well, you could be right if another were to come along sometime for a more reasonable price. However, there have been several top pop moderns lately that have major increased demand and they keep going up just out of even my irrational bid expectations.
Edited to add, whoever sold it sure is happy.
My US Mint Commemorative Medal Set
Here is an extreme example of what I mean about top pop moderns and nuclear bidding.
The Jan 23, 2023, GC auction for the top pop modern 1969-S DDO Lincoln cent, went for $601,875.
Edited to add the Price guide was $200,000.
My US Mint Commemorative Medal Set
I have been glad not to win on some nuclear bids in the past as I really could not have afforded the coin, so perhaps a blessing as others have said.
On the other side of the coin (OK poor pun). I went nuclear MANY years ago on an extreme rarity and ended up winning by 1k on a bid I commissioned with a dealer who would be at the auction, as a wealthy competitor thought he had it sewed up with his own quite high bid (on the advice of the auction house who was bidding for him - he was fly fishing even though it was pretty close to the capstone coin for a particular well recognized series). He could have easily destroyed my own bid had he been at the venue. So I got the coin by extreme luck and now it has gone up, shall we say, a rather fair amount.
But I have lost a number of others and have some galling holes that may never be filled.
Well, just Love coins, period.
In buying for inventory I simply move on if I can’t buy something right in an online auction. In one last nite I acquired 50pct of my targets. Like a poker game playing it to the final hand, generally I like to put in my highest bid as late as possible.
As far as op question you may be bidding against rich collectors who will bid it up in the stratosphere. I would not play my hand until late in auction as possible. Then if that did not work move on to something else. It is what it is. It can come down to how badly you want it especially ultra popular material. Seated material one of most competitive areas if trying win at auction.
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When you win a coin with a nuclear bid, do you ever wonder if the underbidder had the same thought?
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
It's the underbidder who determines the final price. Always interesting to think about.....
If this was the coin, there was no nuclear bid, as the PCGS price guide has $ 1100.00.
https://www.greatcollections.com/Coin/1365161/1847-Seated-Liberty-Silver-Dollar-PCGS-XF-45-CAC-Toned
Next time, go thermonuclear instead of just regular nuclear.
Nothing is as expensive as free money.
Agreed. And if that was the coin in question, this shows that what one person considers to be a "nuclear bid" might be considered other than "nuclear" by many others.
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
Yeah. That's what I mean. People throw around the term nuclear for bids that are 10% above guide.
This is why I dislike auctions and much prefer to buy coins over the counter. Having won two "nuclear bid" wars and later regretting what I paid, but not the items in question, sometimes you should be happy you lost.
I was bidding on a Julius Caesar denarius. My wife urged me to bid $1,000 over what I thought it was worth. I still didn't get it. I was basing my bid on a previous auction results for a piece that was clearly better. I know dealers who would have happily sold the coin to me for what I bid ... if they had it in stock. There is the rub.
And yet the auction houses never give the under bidders any credit.
@TheCuyunaCollection... Welcome aboard. When I used to buy on ebay a lot (coins and other items), when there was an item I REALLY, REALLY wanted, I would make a thermonuclear bid in the last five seconds. Never lost. Usually did not overpay in an excess amount except for one or two items. Those items eventually sold for a profit anyway. I never put in a high bid early...always someone trying to top it... Sniping was great fun. Cheers, RickO
Agreed, the closest I ever went to a nuclear bid was a gorgeous 1920-D WLH (PCGS AU50 CAC) on eBay, at the time their price guide was $ 1000, my max was $ 2500, it hammered at $ 1400. Worth every penny.
The last "nuclear" bid I placed... and lost... turned out to be not-so-nuclear. It's just an upturn in the Market.
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.
Auction companies are very well aware and appreciative of the value that underbidders provide. And underbidders do receive credit. However, as I'm sure you understand, it would be entirely inappropriate to name and thank them publicly.
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
That is easy to say for a dealer, but not as much for a collector who might have their heart set on one item. This is why auctions are much better for dealers than collectors.
Really nice circulated seated dollars are tough to find IMO. In instances like this I take this into account with my next bid, or not, if I'm confident in my original call. Depends on true scarcity or rarity which may or may not be accurately reflected in previous auctions and price lists. More often that not tho I just shrug my shoulders.
auctions are a gamble sometimes you win and sometimes you lose just depends on factors that are out of your hands
COINS FOR SALE AT LINK BELOW (READ CAREFULLY)
https://photos.app.goo.gl/oqym2YtcS7ZAZ73D6
Happens often enough. Crusty (a beloved forum member) probably beat you. Who knows ? We are competing with each other .
``https://ebay.us/m/KxolR5
@Crusty
"Got a flaming heart, can't get my fill"
The eBay coin. What are those odd blotches in the obverse fields?
"Got a flaming heart, can't get my fill"
Still strong though.
The winner paid over $1500 all in, where most of the results from 2022 were <$1000. This is not a tough date seated dollar, but the sticker no doubt garnered extra bidding.
Hammer price was $1375. Regardless of the definition of a nuclear bid the OP’s final bid was not nuclear. 1847 is a relatively “common” date for SLD’s and the GC coin had funky obverse toning. With patience you should be able to find a nice one.
On eBay, it often sets in before they pay, so they come up with the "I entered the wrong bid by mistake" thing to try to skate out of it.
RIP Mom- 1932-2012
Seated Dollars are hot right now.
Don’t feel bad…. I have a very similar story. I bid on an 1847 SLD in PCGS 61 CAC . Retail was $2500 at the time. I put in what I thought was a nuke, at nearly $4000, and was outbid. I ended up getting a much better coin for less money from a dealer, so I was glad that I lost, in the long run. Retail has since gone up to $3250 on the coin….Probably much in part to my bid. Retail still doesn’t even approach my nuke…
Sometimes, it’s better to be LUCKY than good. 🍀 🍺👍
My Full Walker Registry Set (1916-1947):
https://www.ngccoin.com/registry/competitive-sets/16292/
When your nuclear bid doesn’t win...it's often a blessing in disguise.
When two nuclear bids collide, I generally believe the winner is the loser.
Dave
I didn’t like the toning on this SLD. Just because it has a sticker doesn’t mean it’s worthy of a big bid. My opinion may change if I had seen this one in hand but based solely off of pictures I would have advised the winner to pass.
Like others have said the 47 is very common in the series. So there eventually would have been a nicer example available.
CAC SLDs are on fire. So much so that I would advise people to be careful because it’s easy to get burned.
They have been undervalued for a very long time.
Sometimes, it’s better to be LUCKY than good. 🍀 🍺👍
My Full Walker Registry Set (1916-1947):
https://www.ngccoin.com/registry/competitive-sets/16292/
When your nuclear bid doesn't win, be glad someone else's did.
Keeper of the VAM Catalog • Professional Coin Imaging • Prime Number Set • World Coins in Early America • British Trade Dollars • Variety Attribution
Last night I also lost a bid but at least I made the winner pay more than a K more.
You know it’s a nuke, when you’re the under bidder, and you have caused the winner to set a new world price record! Lololol
Sometimes, it’s better to be LUCKY than good. 🍀 🍺👍
My Full Walker Registry Set (1916-1947):
https://www.ngccoin.com/registry/competitive-sets/16292/
You would think so, but there are so few nice coins to be had, the SLD market is not a poppable(?) bubble. At least in comparison to other series IMO.
@fathom - That is a valid point but SLDs as a whole are not sleepers anymore. That ship sailed a few years ago. Make no mistake about it. If you’re buying CAC SLDs in this market you’re paying the price. The key is to buy the right coins. Pay attention to the CAC population and see if you can find under the radar pieces. There are a few dates/ grade ranges that I’d consider undervalued according to price guides. But it’s not like it use to be.
If we run into the economic turmoil I am expecting in the US. There will be "blood in the streets" and SLDs will not be exempt from the coming correction. This is a hobby for most of us. I anticipate hobby money being one of the first that will be drying up.
If you didn't win with a Nuke bid, I'd call the bid a dud.
Paper money eventually returns to its intrinsic value. Zero. Voltaire. Ebay coinbowlllc
True. Failed nuclear bids were how I learned how much choice midgrade Barber halves were underpriced years ago, and how I learned that 1841, 1848, 1857-S, and 1868 SLHs were difficult to find and consequently underpriced in price guides.
That happened to me once but, as the winner and now 15-year price record-holder for the grade, I'm still Lololol.
I'm also the record holder and buried in another coins. It was costly tuition to learn that, at this stage in my collecting, to trust my own judgment about a coin (not TPGs or stickering companies) and avoid "Everyman" (AU58 + CAC) auctions.
It's all good.
I've done that (entered a 4-figure bid by mistake [shaky hand] instead of 3-figures on a snipe bid) but ended up purchasing the coin anyway, even though it went for 30% more than my intended bid.
It happens.
I have similar experiences when I've gone what I thought was nuclear. For some reason other folks didn't go heavy and I got the item for much less than I bid.