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Platinum Night - Full page description for a 1901-S quarter in VG?
MrEureka
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In Heritage's "Platinum Night" catalog, lot 2790 is a full page description for a 1901-S quarter in VG. I find this disturbing for several reasons. First, the coin doesn't seem worthy of the catalog. Second, how can it be worth a full page? And third, since I may very well be wrong about the last two points, I fear that the market has advanced beyond my comprehension.
Andy Lustig
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
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I think there's atleast one big hoard of these and this is what's driving the prices up, Up, UP
<< <i>I fear that the market has advanced beyond my comprehension. >>
You're not wrong about the first two points....and that third point is also correct, especially for the 01-S...it's been off the charts lately.
Their whole original concept of a Platinum Night with fewer lots, expensive and rare coins, and lots of attention has transformed into this large monster event and catalog that is far beyond what they started with. The catalog is larger than the phone books for many smaller communities, and by itself features a large number of lots. The quality of the catalog is quite good.
I suspect that if they chose a higher dollar amount per lot as a screen for putting lots in, they could reduce the size of the sale and catalog down to a smaller size, closer to what the first few Platinum Night sales were like.
<< <i>I happened to notice that this year the Platinum Night catalog was larger than the regular sale catalog for the first time. Might I suggest that this is the natural progression of 'catalog inflation'? Perhaps we need a group to threaten to sticker the catalogs to ensure this is stopped in its tracks.
That TDN...he's a funny guy!
<< <i>Their whole original concept of a Platinum Night with fewer lots, expensive and rare coins, and lots of attention has transformed into this large monster event and catalog that is far beyond what they started with. The catalog is larger than the phone books for many smaller communities, and by itself features a large number of lots. The quality of the catalog is quite good.
I suspect that if they chose a higher dollar amount per lot as a screen for putting lots in, they could reduce the size of the sale and catalog down to a smaller size, closer to what the first few Platinum Night sales were like. >>
I couldn't agree more. If the catalog gets any bigger, they can change the name from the "Platinum Night" auction to the "All Night" auction!
An authorized PCGS dealer, and a contributor to the Red Book.
<< <i>Devoting an entire page to a VG 01-S quarter for this sale is foolish IMHO, but it is a free market and Heritage can do as they please.
Their whole original concept of a Platinum Night with fewer lots, expensive and rare coins, and lots of attention has transformed into this large monster event and catalog that is far beyond what they started with. The catalog is larger than the phone books for many smaller communities, and by itself features a large number of lots. The quality of the catalog is quite good.
I suspect that if they chose a higher dollar amount per lot as a screen for putting lots in, they could reduce the size of the sale and catalog down to a smaller size, closer to what the first few Platinum Night sales were like. >>
I agree completely. My guess is that some consignors make Platnum Night a condition for consignment of some/all of their lots.
As for the full page write-up of a VG 1901-S quarter, this is an absurd example having rules whereby the amount of print dedicated to a coin is proportional to its value. My guess is that there are many coins that are less valuable but far more interesting that do not make the cut for Platinum Night.
In Heritage's "Platinum Night" catalog, lot 2790 is a full page description for a 1901-S quarter in VG. I find this disturbing for several reasons. First, the coin doesn't seem worthy of the catalog. Second, how can it be worth a full page? And third, since I may very well be wrong about the last two points, I fear that the market has advanced beyond my comprehension.
I agree on all accounts.
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>It does seem strange. Is it possible the consignor insisted on the fancy writeup when he negotated the terms of the contract? >>
or perhaps Heritage owns the coin.
<< <i>
<< <i>It does seem strange. Is it possible the consignor insisted on the fancy writeup when he negotated the terms of the contract? >>
or perhaps Heritage owns the coin.
Are you saying Heritage would hype their own consignment? Say it ain't so!
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
K S
How many of these things are there any way? Does the date even qualify as an R-4 (75 to 200 known)? I doubt it.
Better dates have gotten to be too expensive IMO.
BINGO
<< <i>I would have rather seen the Westmoreland collection of early half dollars in one catalog and auction, as it is the all time finest collection of early halves. As a reference, it is now split up into two phone book sized catalogs. >>
I agree. My guess is that Heritage did or could make available a single small booklet of the entire collection.
<< <i>why did'nt they just call it "plastic night"?
K S >>
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
this extends well beyond what is reasonable
Experience the World through Numismatics...it's more than you can imagine.
Curiously I negotiated that very thing, a full page layout for one lot in the Platinum night at March LB 2004. And I thought I was shrewd (lol). My coin sold for upper 5 figures and I basically provided the research and writeup for the Pedigree/rarity (MS67 pop 1, finest by 3 pts, 6-10 uncs known, maybe 150-250 (known in all grades). I'm not sure how I'd have submitted page on a vg 01-s.
Estimates for the 1901-s pops are in the 2500-5000 range. Hardly a rarity from that standpoint. 75% of the dates in the seated quarter series are rarer than the 01-s.
roadrunner
Of course, it's their prerogative I imagine..
President of David Lawrence Rare Coins www.davidlawrence.com
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