1880 $1 PCGS Morgan Dollar VAM 29 - Crazy Auction Result - Nuclear Bid Gone Wrong?

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ProofCollection
ProofCollection Posts: 8,073 ✭✭✭✭✭
in U.S. Coin Forum

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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  • alaura22
    alaura22 Posts: 3,963 ✭✭✭✭✭
    edited March 3, 2025 10:35PM
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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
    Dansco Set

  • Clackamas1
    Clackamas1 Posts: 1,725 ✭✭✭✭✭
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    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.

  • jmlanzaf
    jmlanzaf Posts: 43,060 ✭✭✭✭✭
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    @ProofCollection said:
    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?

    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.



    All comments reflect the opinion of the author, even when irrefutably accurate.

  • cheezhed
    cheezhed Posts: 6,408 ✭✭✭✭✭
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    That would be high even if it was an O mint mark.

    Many happy BST transactions
  • CaptHenway
    CaptHenway Posts: 34,172 ✭✭✭✭✭
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    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!

    Professional Numismatist, Retired. 55 year member ANA. Former ANA Senior Authenticator. Winner of four ANA Heath Literary Awards; three Wayte and Olga Raymond Literary Awards; Numismatist of the Year Award 2009, and ANA Lifetime Achievement Award 2020. Winner of the PNG's 2026 Robert Friedberg Award for "The Enigmatic Lincoln Cents of 1922," Available now from Whitman or Amazon.
  • messydesk
    messydesk Posts: 20,826 ✭✭✭✭✭
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    This price makes no sense to me. Looks like a nice coin, but not a solid 64.

    John
    Keeper of the VAM Catalog • Professional Coin Imaging • Prime Number Set • World Coins in Early America • British Trade Dollars • Variety Attribution
  • Cougar1978
    Cougar1978 Posts: 10,067 ✭✭✭✭✭
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    When rich collectors get in a bid war anything can happen.

    Investor
  • david3142
    david3142 Posts: 3,693 ✭✭✭✭✭
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    Obviously a couple of bidders just forgot to include the buyer’s premium.

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