What am I missing here Mexico 1 REAL 1745 NGC AU-58?
Early_Milled_Latin_America
Posts: 6,466 ✭✭✭✭✭
AU-58 should be 500$-700$ max.
The one over at HA that ends tonight is at 3720$.
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Even in mint state I remember paying 1440$ for a MS-63 a year ago. Sold it to a board member here. There is no way this coin has gone up this fast in value there is no reason it would have. So what am I not seen in this auction over at HA?
2 new collectors that have no idea what they are doing or the value of the coin in this grade? 2 people that put excessive amounts in their max bids? Someone is going to regret this unless it is some type of super rare variety even then would not be worth anything near this not based on my experience with the series.
There is a mint state 1 real in the same auction nowhere near the price as this one. That is normal pricing.
I have this coin on my watch list, but not one I'd be interested in buying. I don't find it attractive. Poor center strike.
And the price is way out of the normal range for the grade. Like I said it is not worth more than 500$-700$ max (I know I follow these coins aka 1 reales closely). Unless 2 people just need to own a AU-58 for some odd reason.
I have no idea, crazy
I'm BACK!!! Used to be Billet7 on the old forum.
Odd.
The 1743 in "62" immediately preceding it is either terrible photography or (much more likely) a dipped and stripped dog. Pickled white die rust luster on the reverse apparently makes it UNC. If they say so...
Is it a rarer die variety?
In late 2016, I sold a 1754 NGC AU-50 2R that went for way more than I thought it would. It's a nice coin (much better eye appeal than this one), but I assumed the price was due to a variety I didn't notice.
I don't pay any attention to most varieties.
Inconsistent grading on this design drives me "nuts". I assume it's supposed to reflect "market grading" but it's hard to see it in specific coins much of the time.
I looked the coin over I do not see any new variety even if it was it would be crazy. I think 2 put in very high max bids and one of them is now stuck paying 5 times the value.
I know that these tags do not work, but they have the coin offered now at this price:
At that price mine as well buy a 1732 milled (the 1732 milled plugged 2 reales sold for 2400$). At that price the coin will never sell at current market maybe in 10-20 years.
That’s gotta be a mistake in the system, some kind of error. I just can’t see this being legit.
I'm BACK!!! Used to be Billet7 on the old forum.
Possible.
They added a 25% more:
Unless it was some blatantly overlooked MAJOR error (i.e., legend misspelling, 1748 dead king reverse, etc)... no minor variety would be worth ANYWHERE NEAR this anomalous price. If two bidders think these are EVER gonna be like VAMs, they're "pazz'". Remember what @Boosibri said in the other thread about pedantic variety collectors in this space? He was spot on.
Also, there's pretty nice color on the reverse...but NOT the obverse (some old dumb fu... er, coot... didn't flip the coins in his cabinet)... There's no way this could be a toning premium.
I really think this is just a glitch in the Matrix... and should be overlooked as a data point.
Then again, you could get straight-graded UNC pillar 1R for several hundred bucks even 10 years ago. Maybe all of us who are (heavily) invested in this space are just filthy rich now??!
A glitch seems more likely.
I watched the first hour of last night's auction and wondered why this 1803 Charles IIII VF25 4R went for $1800 which is more than I would have expected.
https://coins.ha.com/itm/mexico/mexico-charles-iv-4-reales-1803-mo-fm-vf25-ngc-/a/232125-64612.s?ic4=GalleryView-Thumbnail-071515
No major varieties of 1745 Mo M 1R listed in Gilboy or Yonaka, no unlisted gross misspelling or mule variety...
I waited until the auction was over so as to not tilt outcomes before coming here to see if any of you picked up on this anomaly too, or could explain why you were the one that bought it and what we all missed. Agree that toning on reverse is nice, but not 10x price nice. I am one of those pedantic variety collectors and was sure I must be missing something.
"Unlisted" in lot description 1750/40 2R in N58 also went for $1920, despite Yonaka publishing that variety (Yonaka R2.)
Never can tell with auctions.