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Heritage US Coins Signature Auction tonight: 1864-S Liberty Half Eagle PCGS/CAC AU58 sold for $192k
Goldbully
Posts: 18,501 ✭✭✭✭✭
Mintage: 3,888
20-30 known
Beautiful coin as per the images.
You certainly won't see this coin pop up at many auctions.
Sold for $264k April 2022 through Stacks Bowers Auctions.
Wonder what caused the huge price drop of $72k?
3
Comments
The absence of one bidder (typically the consignor).
Exuberance of Fairmont... I am tracking a few other coins that took haircuts and I am hoping at least 2 that take haircuts tomorrow.
The exuberance of new material to the market brought strong bidding to Stacks... Now that more and more Fairmont coins are hitting the market with an unknown to come... The exuberance is dying down.
Lets hope I can get 30% haircut tomorrow...
Thin markets are dangerous markets.
The 27-D St just went for $3.2 plus the juice
That Kellogg and Humbert ingot was SWEET
BHNC #248 … 140 and counting.
I always thought the 1864-$5 and $10 were both very rare coins
All of the $5 coins were received by the Paying Clerk from the SFBM Coiner on July 11
The Paying Clerk wrote 3,880 Half Eagles
However the dollar amount was listed as being $19,440
The equivalent of a mintage of 3,888
The entire mintage of 2,500 1864-S Eagles were delivered on July 1st
Wonder if their value is holding up
It went for less than melt.
April 2022 near the peak of the bubble for trophy assets including many coins. This coin was discussed by Doug Winter in his blog/articles.
Both of these Fairmont coins sold for ~$40k two years ago.
For liquid coin years/mints, the market can aborb new supply without crushing the market (i.e., 20 new coins in a market of 300). But if you have Top Pop-types or single-digits, then 1 or 2 new ones -- plus the FEAR of more -- can cause a drop in price.
This is what some here have posted and also many Fairmont examples cited by Doug Winters. The market has to be wide and liquid and not thin and narrow. I suspect this coin is closer to the latter.
+1
I was laying in bed watching on my phone I didn’t even think to try and calculate it.
BHNC #248 … 140 and counting.
I posted this in the other Fairmont thread, but since it was in response to this same coin:
Nothing is as expensive as free money.
The real issue is how often does this coin which exhibits such originality offered for sale?
Could easily be among the finest known and a bargain at that price.
Experience the World through Numismatics...it's more than you can imagine.
I think that @POCKETCHANGE said it best.
I also agree with @coinkat that this might have been a bargain. Coins usually need to be held long term to profit.
Second finest. The Norweb piece in 65 is a wonder coin
Latin American Collection
I remember back when I worked at Harlan J. Berk's decades ago Bob Greenstein had a customer who was assembling a set of No Motto S-Mint gold $5's and $10's. This would have been perfect for it!