1880 $1 PCGS Morgan Dollar VAM 29 - Crazy Auction Result - Nuclear Bid Gone Wrong?
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I thought this was interesting in tonight's auction:
https://coins.ha.com/itm/morgan-dollars/1880-1-8-over-7-checkmark-vam-29-ms63-pcgs-a-hot-50-variety-pcgs-population-2-2-and-0-0-/a/60438-50077.s
this 1880 MS63 VAM 29 Checkmark sold for $5760. It's not top pop which is MS64 (2). I can't figure out why this sold for more than 50x recent auction results. Am I missing something or did 2 bidders go crazy?
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As far as I know there is no way to see the bidding history on Heritage as in bid by bid account
At GC you can
Mike
My Indians
Danco Set
They must think it is an upgrade? It is not. Would it not take two people with blow them out of the water bids to do this - not impossible. You bid online some stupid number and you know you will win and then someone else comes in and does the same thing.
It is only 50x recent auction results for the generic date not the VAM. It still seems a bit high, but the auction results on VAM-29 are all over the place.
That would be high even if it was an O mint mark.
Tis a puzzlement. To me this variety is not nearly as interesting as the VAM-23 Checkmark, which I midwifed as a discovery.
Probably just a head-on collision of nuclear bids. Reminds me of when I was seriously collecting Honduras and a legitimately rare coin came up on the bay, misattributed, and a friend who was good at pricing foreign told me it should go for $1500. I threw in a nuclear bid of $4,000, and did not get it. I would bet that the winner was surprised at what it cost him, but c'est la vie!
This price makes no sense to me. Looks like a nice coin, but not a solid 64.
Keeper of the VAM Catalog • Professional Coin Imaging • Prime Number Set • World Coins in Early America • British Trade Dollars • Variety Attribution
When rich collectors get in a bid war anything can happen.
Obviously a couple of bidders just forgot to include the buyer’s premium.