Poor Travel was probably sitting in a Vegas penthouse suite being fed grapes by the Swedish bikini team watching the auction, and had to skip town after seeing the tab... since his penny wasn't going anywhere near TDN's estimate.
To Err Is Human.... To Collect Err's Is Just Too Much Darn Tootin Fun!
"Yes, much of the hobby is about marketing and making as much money as possible. But when the marketers are dead or in jail or living in Brazil, you can still open your dusty copy of Crosby, Newman, Taxay and learn something."
Hello everyone, just to kill any wild rumors (like I'm in Vegas being feed grapes... nice one but not my style).
I got a call from Heritage today, they said a lot of people were calling about the coin and some were hesitant because there is uncertainty about it's composition. The same questions we all had here. Is it "white metal" (ie tin alloy) or aluminum? They even had one bidder withdraw a bid because of this so I'm told.
Anyways, we decided it would be best to have it's composition fully tested and offer it at a later auction. Heritage thinks that could mean a big difference in final sale price. I don't know if it makes that much of a difference really but they are the experts in this area so I trust their opinion. Either way, I think they also are trying to do the right thing and help the buyers with what they want to know.
I was really looking forward to this week and what it would finally bring, now we have to wait.
Travel sorry to hear there's no grape feeding by clad bikini babes...
Yes the Heritage listing was not spectacular and they could have spread 4 pages with info to really market this cent pattern. However I can tell you this if I was one of the multitude of bidders on this lot and Heritage pulled these EBay like shenanigans of ending a lot mid stream for more testing to enhance the final hammer price... well I know I wouldn't be bidding on this lot at the same auction house again so quickly
To Err Is Human.... To Collect Err's Is Just Too Much Darn Tootin Fun!
<< <i>Hello everyone, just to kill any wild rumors (like I'm in Vegas being feed grapes... nice one but not my style).
I got a call from Heritage today, they said a lot of people were calling about the coin and some were hesitant because there is uncertainty about it's composition. The same questions we all had here. Is it "white metal" (ie tin alloy) or aluminum? They even had one bidder withdraw a bid because of this so I'm told.
Anyways, we decided it would be best to have it's composition fully tested and offer it at a later auction. Heritage thinks that could mean a big difference in final sale price. I don't know if it makes that much of a difference really but they are the experts in this area so I trust their opinion. Either way, I think they also are trying to do the right thing and help the buyers with what they want to know.
I was really looking forward to this week and what it would finally bring, now we have to wait.
Thanks everyone for your input. >>
Probably a good idea. Seems to me Heritage dropped the ball on due diligence on this coin for you. For the huge comission they will get, they could have done a better job.
Travel, Withdrawing the lot and performing complete testing is probably for the best. That provides the purchaser with full disclosure and the pattern collectors with another piece of information.
I look forward to the revised listing. I suspect you will do much better on the price, too.
I loved areading all the information in this thread. I too think Travel and Heritage were very smart to withdraw the coin and have PCGS make sure their labeling is correct. It seems to me people will bid more when they are more comfortable knowing what they are bidding on.
Thank you for sharing your numismatic experience and that interesting piece with us all. Regardless of the outcome or sale of such item, the whole thread's been a great education in so many ways.
I must be uninformed ... Why is the composition so important on this one? How many "white metal" 1942 pattern cents are there floating around out there such that either the tin or aluminum would be more valuable? I guess I don't understand the nuances of pattern collecting.
Doug, Unfortunately, so little is known about the 1942 cent (and nickel and other coin) experiments, that just calling the piece “white metal” in not sufficient. By knowing the metallic composition, it might be possible to link the coin, and others, to newly identified documents. Together, this can help build a factual outline of what occurred, what alternatives were tried and why certain decisions were made.
Comments
"Yes, much of the hobby is about marketing and making as much money as possible. But when the marketers are dead or in jail or living in Brazil, you can still open your dusty copy of Crosby, Newman, Taxay and learn something."
would make a great sigline
greg
www.brunkauctions.com
I got a call from Heritage today, they said a lot of people were calling about the coin and some were hesitant because there is uncertainty about it's composition. The same questions we all had here. Is it "white metal" (ie tin alloy) or aluminum? They even had one bidder withdraw a bid because of this so I'm told.
Anyways, we decided it would be best to have it's composition fully tested and offer it at a later auction. Heritage thinks that could mean a big difference in final sale price. I don't know if it makes that much of a difference really but they are the experts in this area so I trust their opinion. Either way, I think they also are trying to do the right thing and help the buyers with what they want to know.
I was really looking forward to this week and what it would finally bring, now we have to wait.
Thanks everyone for your input.
Yes the Heritage listing was not spectacular and they could have spread 4 pages with info to really market this cent pattern. However I can tell you this if I was one of the multitude of bidders on this lot and Heritage pulled these EBay like shenanigans of ending a lot mid stream for more testing to enhance the final hammer price... well I know I wouldn't be bidding on this lot at the same auction house again so quickly
<< <i>Hello everyone, just to kill any wild rumors (like I'm in Vegas being feed grapes... nice one but not my style).
I got a call from Heritage today, they said a lot of people were calling about the coin and some were hesitant because there is uncertainty about it's composition. The same questions we all had here. Is it "white metal" (ie tin alloy) or aluminum? They even had one bidder withdraw a bid because of this so I'm told.
Anyways, we decided it would be best to have it's composition fully tested and offer it at a later auction. Heritage thinks that could mean a big difference in final sale price. I don't know if it makes that much of a difference really but they are the experts in this area so I trust their opinion. Either way, I think they also are trying to do the right thing and help the buyers with what they want to know.
I was really looking forward to this week and what it would finally bring, now we have to wait.
Thanks everyone for your input. >>
Probably a good idea. Seems to me Heritage dropped the ball on due diligence on this coin for you. For the huge comission they will get, they could have done a better job.
I think that was wise.
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
Withdrawing the lot and performing complete testing is probably for the best. That provides the purchaser with full disclosure and the pattern collectors with another piece of information.
I look forward to the revised listing. I suspect you will do much better on the price, too.
Jay
Thank you for sharing your numismatic experience and that interesting piece with us all. Regardless of the outcome or sale of such item, the whole thread's been a great education in so many ways.
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Unfortunately, so little is known about the 1942 cent (and nickel and other coin) experiments, that just calling the piece “white metal” in not sufficient. By knowing the metallic composition, it might be possible to link the coin, and others, to newly identified documents. Together, this can help build a factual outline of what occurred, what alternatives were tried and why certain decisions were made.
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