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Heritage FUN auction - Whats up with all the SS Central American gold
Clackamas1
Posts: 1,723 ✭✭✭✭✭
What is up with all of the 57-S double eagles? There are some really nice coins and quite a few of them. Is there a hoard just waiting to sell every so often?
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Some people hoard newspapers and some hoard 1857-S Double Eagles. I rather find the house hoarding the Double Eagles.
Like the 1909-S VDB Cent, the 1857-S $20 is one of those ‘rare’ coins that are always available!
30+ years coin shop experience (ret.) Coins, bullion, currency, scrap & interesting folks. Loved every minute!
Would it have been more profitable if this hoard were sold in several auctions over a period of a few weeks rather than dump them all at once into a single auction?
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
I dont think there's any question sales would do better of a specific issue spread out. The fact that they're all being sold makes it seem more like an estate liquidation...
Although there’s no way to tell for certain, I think there is a question as to whether the coins would do better, if spread out among different auctions.
I see a total of seven 1857-S $20’s being offered. There have been auctions that included several 1907 High Relief $20’s (of greater value than the 1857-S’s) in the same sale. And as many forum members will remember, Heritage auctioned more than 30 uncirculated 1889-CC $1’s (many of greater value than the 1857-S $20’s) in the same sale last August. Some forum members had questioned the wisdom of that, but the results were very strong.
For certain coins - even higher value ones - the market is deeper than many people realize. And sometimes, a larger group of a particular issue or type of coin can attract more attention and higher, not lower prices.
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
What was the grade range of the 1857-S DEs ? And how did the auction results turn out ?
Looks like the discussion died before it really got started?
How about this:
There are something like 5,000 1857-s $20 in MS.
If 5% of them turn over annually (not implausible), there’s just no way to ‘spread out’ 250 coins.
30+ years coin shop experience (ret.) Coins, bullion, currency, scrap & interesting folks. Loved every minute!
I would imagine Heritage has considerable expertise in selling this type of material in quantity, and that whatever strategy they choose is bound to be highly profitable -- perhaps as profitable as is reasonably possible.
Official PCGS account of:
www.TallahasseeCoinClub.com