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Blay 1919 MS69 Sold for $265k + Buyers
oldabeintx
Posts: 3,200 ✭✭✭✭✭
On GC. Looks like someone took a beating. I
believe this last sold for about $420k. Still amazes me, these condition rarities. One wonders what the future holds for such coins.
8
Comments
Hold your breath on that! To some of us, these prices are ludicrous. It is a British coin, but I recently got an unknown GB 1967 proof [and so at least so far UNIQUE in any grade] sixpence for a mere fraction of that price.
Well, just Love coins, period.
It’s the ghost of Stewart haunting the sale in hopes of buying back for half price. 🤣
Nobody ever lost six figures on an XF 1919 Cent. Just saying.
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
Very little pressure coming from the type registry guys to buy that coin when a 1950s PR68DCAM carries the exact same weight.
……..And a 68+DCAM would be of a higher point value in the 7070 registry.
Auctions can be fickle, a lot of factors and unknowns. Someone got a deal. Next time she comes around it will be for more money for sure.. Until them, I hope they enjoy that magnificent cent!
The court jester does not play, but gently pulls the strings…
Hammer price from the first sale was $375k ($422k with fees). With fees the new sale is $298k. A $124k beat down.
- Bob -
MPL's - Lincolns of Color
Central Valley Roosevelts
Not for the auction house.
There’s no “for sure” about it.
I’ve seen many instances in which a coin sells for much less than its previous sale, and for even less the next time.
The only “for sure” is that we don’t know what the future will bring.
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
@MarkFeld
Thanks captain obvious...
The court jester does not play, but gently pulls the strings…
I agree that what I posted was obvious. And yet, it contradicted something you had posted.
So, maybe you should be addressed as Captain Obvious(ly) Wrong.
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
If you play in that market, demand shocks up or down are a known part of your purchase decisions.......you would think.
Auctions aren’t fickle. It’s collectors… And what motivates them to purchase a particular coin - and at what price - that determines its current “value”. Captain Obvious II checking in…
@markfeld There was no contradiction, just my opinion. Auctions are fickle, timing, advertising or lack thereof etc... Also, Feld, just my opinion. I think it will be higher next time... And yes Captain obvious, no one can predict the future... DUH.... Do you have something you should be working on?
The court jester does not play, but gently pulls the strings…
Yes, I should be working on helping you learn what “for sure” means and how to tag forum members by their username (such as @MFeld, as opposed to @MarkFeld). It looks like I have my work cut out for me. 😉
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
@MFeld now that your ego is satisfied. What is your prediction for the next time this coin hits auction do you think it’ll be higher or lower?
The court jester does not play, but gently pulls the strings…
Can’t help but wonder about the wisdom of dropping that kind of money on a red copper coin at that level. I might want to store it in outer space. Beautiful coin to be sure but sic transit gloria mundi, or something.
I agree with Mark. It is not "for sure" that it will sell for more next time.
All comments reflect the opinion of the author, even when irrefutably accurate.
I saw that and it made my stomach drop. Consignor took a major beating!! Can’t imagine losing six figures on a resale!! That Lincoln Wheatie better be stored 24/7 in a consistent, climate controlled area. Makes my worst loss look like nothing. Yes, the market is fickle. Will be interesting to see what it does, if it comes back to the block, in a few years.
Sometimes, it’s better to be LUCKY than good. 🍀 🍺👍
My Full Walker Registry Set (1916-1947):
https://www.ngccoin.com/registry/competitive-sets/16292/
Worse unless GC shared the fees.
@jmlanzaf I wondered how long it would take for you to show up... It was an opinion.... If I had said for certain that is another matter. Marks comments were petty and small. I was just surprised at the price and made a comment. I've seen the coin It's a beaut. I think it will go higher next time.. Thats it... Move on.... If you can....
The court jester does not play, but gently pulls the strings…
I’m not entirely sure, but pretty certain that any prediction is an opinion.
The plastic grade game is hazardous to your wallet.
Yes…for sure
Nothing is as expensive as free money.
For sure, I'm moving on.
Now, does that mean I am or am not moving on...🤔
🤣
All comments reflect the opinion of the author, even when irrefutably accurate.
The only person I know of who made money betting on the future was Biff, from Back To The Future II (of course he had the ultimate Cheat Code).
@coinfinder
Seriously, just walk away from this thread.
You are embarrassing yourself and providing second-hand cringe to those reading your posts.
@jmlanzaf couldn’t help yourself could you, and I’m not embarrassed, and no you haven’t moved on. 'Twas a very simple comment… And Redrocket, I’m staying…
The court jester does not play, but gently pulls the strings…
He's here pretty regularly, so it's not much of a surprise that he might comment. IMO, anyway.
And other opinions were posted in response, but this is a message board so that's not much of a surprise, either. Again, IMO.
I used “for sure" as a conversational filler or a sign of acknowledgement, not as a binding contract or a guarantee of absolute certainty. It was then taken an entirely different direction. This oven happens with certain members of this board. It’s very unnecessary. This is supposed to be a friendly place to chat about coins and I truly enjoy it and I enjoy 99% of you and I’ll continue to and I’m glad that PCS provides the platform for us to discuss these things. That’s all. I’m gonna say I’ll be around for a long time.
The court jester does not play, but gently pulls the strings…
Back to the original subject, sort of. How have the Blay coins fared generally. A collection like that always generates a lot of enthusiasm when first sold.
One solution to avoid misunderstandings it to use a smiley face, if you intend a comment as a joke or sarcasm. Although here I think you meant your term "for sure" was casual and not intended to be accurate. In forums I try to avoid writing things that are not accurate, as other people will naturally want to correct them. And when I do make an inevitable mistake, I find it's best to just say "Oops", and agree with the person making the correction. I don't think the correction was meant as unfriendly, although things can drift that way if one is not careful.
deleted
Amen. Everyone is different, and not telling anyone how to spend their dough, but make my $300k purchase a nice circulated 1794 dollar (or something similar), every freaking time. Since the mania of the late 80s of chasing common mercs and walkers, I’ve never understood chasing conditionally rare common coins… but, to each his own I suppose
Other passions include golf, Moto Guzzi motorcycles, and Euro motorcycles in general.
Chris
Apparently, you haven't either. I don't really care about the "for sure". However, your response to Mark struck me as defensive and insulting. All he said, when offering HIS OPINION, was that future sales could be lower, and not "for sure" higher. And, for that, you called him "Captain Obvious" and when he explained why he responded ("for sure"), you suggested he should be working on something and not responding.
You don't need to apologize or be embarrassed or even care what anyone thinks. But "for sure" does mean "definitely". So, I fail to see why an observation that it is not definite that the price goes up should have elicited any response at all.
All comments reflect the opinion of the author, even when irrefutably accurate.
I wouldn’t be surprised that most of the people that spend crazy money on a Pop-1 of something that is exceedingly common coin don’t care about money. That said, if someone threw $400K at me it would be spent on a Chain cent, some neat colonial coins, a draped bust silver set minus the half, a Fugio, etc, a 1919 cent in Gem 65, donate some of it, among many other things.
The person who became unfriendly was you, not Mark.
I'm glad you are sticking around. I look forward to relying to you until death do us part.
All comments reflect the opinion of the author, even when irrefutably accurate.
Indeed the "froth" around the original sale pushed the prices on practically all of his coins not just the Lincolns. Even many of the non CAC coins sold for premium prices. Some of his coins have since upgraded and some of those new higher graded coins resold. I wonder if any of that action could have put a dampener on this sale, not that there should be any correlation but buyers are not always rational.
A member of the CAC forum recently did a nice writeup and deep dive into some of the Blay Lincolns. Here is a link to that thread that you might find interesting and will answer some of your question of "how have the Blay coins fared".
https://forum.cacgrading.com/discussion/1705/stewart-blay-lincoln-cents-three-and-a-half-years-later-with-photo-gallery
My Collection of Old Holders
Never a slave to one plastic brand will I ever be.
That is crazy the loss they took on it
Successful Transactions With: JWP, DBSTrader2, greencopper, bretsan, ajaan, Ted1
This hand wringing over minute semantics is just stupid. Nattering nabobs of negativity. Sheesh
What I don’t understand - when auctioning a coin of extremely high value, with few if any comparable and recent sales - is why you would not obtain a guarantee or set a reserve… At a minimum, do a bit of research to determine if others are building sets/forming collections similar to yours. The last thing you’d want is to have been the “market” when you first bought the coin, with literally no one else willing to buy it at close to your purchase price.
Is that better or worse than hand-wringing over people hand-wringing over semantics? Which is more "stupid"?
I already know which one is more negative.
All comments reflect the opinion of the author, even when irrefutably accurate.
If you want to sell it, placing an unreasonable reserve just means that you're going to end up keeping it.
All comments reflect the opinion of the author, even when irrefutably accurate.
These days it seems a thread only gets to multiple pages when you guys start pulling this BS about he said this you said that. Nobody freaking cares so knock it off. You’re ruining the form.
Just thought that - depending on one’s circumstances - it might be better to “keep it” than accept a buzz cut.
Lol. Based on your observation, we're the only ones using the forum.
And I care. And I love the forum.
All comments reflect the opinion of the author, even when irrefutably accurate.
Or it's better to take the cut and make it back in the stock market. As you imply, we don't know who is selling it and why.
Personally, I would have sold it in a different venue with more visibility, in an auction tied to a major show.
All comments reflect the opinion of the author, even when irrefutably accurate.
The total value of my collection is a (small) fraction of this single coin but, as a general strategy for selling one’s coins through auction, that’s super advice! Thanks (in advance) 😊
Actually the 1919 was on GC a month or two ago with a reserve of $275,000 I if I recall properly. So it obviously failed to sell and the owner tried it now without a reserve.
I am only curious as to @tradedollarnut’s and @markfeld’s opinion as to why the Blay 1919 cent in MS-69 sold for much less in the second round than the first round!
Was it:
1) realization that the cent was not CAC stickered?
2) excitement died down in the second round?
3) venue?
4) too quick a re-sale meaning no longer “fresh? “
5) other reasons?