I wonder what this Churchill Crown will sell for . . .
ajaan
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CU #3245 B.N.A. #428
Don
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ajaan
Posts: 17,624 ✭✭✭✭✭
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'Emancipate yourselves from mental slavery'
CU #3245 B.N.A. #428
Don
Comments
- Jim
<< <i>Probably moon money >>
Given current bidding and knowing that multiple bids are often received from sniping software at the last minute, I agree, and it will probably be more than it's worth, which is okay by me, since I have received "more than it's worth" on numerous occassions, and I didn't give the money back.
<< <i>WHY? Who is buying these? I am only asking because these coins are crap. -Dan >>
Dan, I'm in agreement with you about the collectable nature of the coin in question, but it appears there are others who are not, specifically bidders s***.( 347) and i***c( 362), who apparently do not understand the concept of placing a max bid, and who presently are in a bidding war.
When I'm the seller and this happens with my auction, I'm happy, and it doesn't happen when I'm the buyer, since I snipe.
Still, you must recognize the scarcity of MS65 Churchill crowns, even if you don't care for the coin itself. Personally, I like US-Philippine coinage, but if everyone else did as well, then I couldn't afford them.
DPOTD-3
'Emancipate yourselves from mental slavery'
CU #3245 B.N.A. #428
Don
There were many of these coins hoarded and they survive in abundance but with their large open fields they are prone to bag marks and scratches so they are hard to find in such condition.
for a MS66 coin.
DPOTD-3
'Emancipate yourselves from mental slavery'
CU #3245 B.N.A. #428
Don
<< <i>The search is on . . . >>
I know where you can buy 'em by the bag.
There, I said it.
<< <i>I actually like the Churchill Crown.
There, I said it. >>
- Jim
Here's a BIN for $5.50 including S/H, instead of $84.50.
<< <i>Here's a BIN for $5.50 including S/H, instead of $84.50. >>
Where?
If it looks like the one that sold in that auction, I'll buy it! And I don't even like those coins. But I seriously doubt it won't have numerous bag marks, and I will bet anyone without even seeing the coin to which you refer that it doesn't even come close.
There are those that take "buying the plastic" to an extreme, but lately I have seen a lot of posts that take NOT buying the plastic to such an extreme that it has become fashionable to complain about people "buying the plastic", even if the coin is exactly what the plastic says it is.
So if you think those who bid didn't even look at the coin, would you please point out to me what marks on the coin pictured invalidate the MS65 designation?
<< <i>
<< <i>Here's a BIN for $5.50 including S/H, instead of $84.50. >>
Where?
If it looks like the one that sold in that auction, I'll buy it! And I don't even like those coins. But I seriously doubt it won't have numerous bag marks, and I will bet anyone without even seeing the coin to which you refer that it doesn't even come close.
There are those that take "buying the plastic" to an extreme, but lately I have seen a lot of posts that take NOT buying the plastic to such an extreme that it has become fashionable to complain about people "buying the plastic", even if the coin is exactly what the plastic says it is.
So if you think those who bid didn't even look at the coin, would you please point out to me what marks on the coin pictured invalidate the MS65 designation? >>
I have commented on not buying the plastic, but I think that is foolish to play the game of buying a coin WITHOUT looking at the coin. I personally do not have coins slabbed, but I have not gotten comfortable playing the slabbing game yet. I am still learning series and probably will for the rest of my life. With the premiums that slabbed coins carry, you have to pay attention to the coin inside or you could be stuck with a coin that loses value quickly. I find it odd that collectors will gamble with a coins value based on how HOT it is to later get stuck with a worthless coin. You can actually see that happening in the US coin market, especially with a brand new series. I am not knocking plastic, but you do have to pay attention to it. With more and more counterfeit slabs, in time, someone will get stuck with a $500 coin that is supposedly worth $5k. You, in particular, focus on a series, but you got to take in to consideration there are lots of collectors out there that collect everything they can get their hands on. You know what to look for in your series, lots of collectors don't. Or, just maybe buying slabbed coins is a preference for lazy collectors who DO NOT KNOW HOW TO GRADE and want someone else to do it for them and not learn a series, take your pick.
edited to add: I think that slabbing is beneficial. I do think that it has to be more beneficial for the collector thaan just having them grade the coin. A way to do that is to create a different type of slabbing, such as grading everything. Perhaps, if PCGS was to 1) take pics of the coin 2) and give it a grade and 3) not slab it, but give a comment card that would differentiate that particular coin with others(basically, the way that these companies used to grade coins). Maybe they would charge $5 for the service. It would not be slabbed, but graded and authenticated by them. If that were to happen, everyone would probably spend the money to do it, especially on $25-$100 coins. JMHO.
One of those reasons is that there will always be those who do buy the plastic without consideration of other qualities such as eye appeal. So if two coins have basically the same eye appeal and condition, but one of them is raw and the other is slabbed by PCGS with an MS65 designation, I'll pay a premium for the slabbed coin. Why should I not consider future resale value even if I plan on keeping the coin until my heirs cash in on it? Why wouldn't I want to increase the potential buying pool, even if the extra numbers come from a base of idiots?
Another reason I would pay a premium for a slabbed coin is the company's guarantee, not simply in regards to it being genuine, but the whole guarantee. For example, I have a PCGS coin that is a Swedish coin, but it is certified as Norwegian. I acquired the coin for the sole purpose of having demonstrable evidence that even PCGS can screw up royally; however, if I really wanted to be a horse's rear, I could legitimately demand that PCGS "make me whole", even if I knew what I was buying when I bought it. That's because I bought the guarantee along with the slab.
And recently a board member posted how he screwed up and cracked a coin out of its slab before carefully checking it out visually, and the coin was scratched. Yes, he really screwed up, and he admitted the same, but consider what options he had before cracking the coin out of the slab if he had taken the time to carefully examine the coin. He could still have been made "whole" through the contract he purchased when he purchased the coin in the slab. I believe he stated that coin was slabbed by some other TPG, but from what I have heard from those collecting Canadian coinage, they are top tier for Canadians, so I expect they would have a similar guarantee.
A third reason I like TPG's is that for moderately priced coins, it is a little safer for me to acquire a coin from a poor image through an online auction than it would be for a raw coin. Now this last reason is not a big factor, but it adds to reasons already expressed, and I mention it for the sake of presenting a full case for why I buy both the coin and the plastic, and why I prefer top tier slabbed coins to raw coins, with all else being equal. That last qualifying clause is critical to my rational, for if all else is not equal, then I judge one coin against another based solely on each coin's respective merits.
Basically, the vast majority of any population are sheep, and that is why you have so many buying the plastic, but if a few sheep get around others who counsel against buying the plastic (alone), they will tend to (since they are still basically sheep) jump on that particular bandwagon and carry the argument to the other extreme, and that is what my previous response was meant to point out. Perhaps I didn't do such a good job, since I am not certain that you realize I am in basic agreement with you. Still, from everything that I have read or heard, Churchill crowns, (which are accurately graded), are indeed extremely scarce in M65, and I could see what might attract some to the design, even if it doesn't float my boat.
I try to always recognize that I can be wrong, so if there is a demonstrable flaw in what I have posted, I hope that I have the humility to admit it when someone points out my error.
<< <i>
Another reason I would pay a premium for a slabbed coin is the company's guarantee, not simply in regards to it being genuine, but the whole guarantee. For example, I have a PCGS coin that is a Swedish coin, but it is certified as Norwegian. I acquired the coin for the sole purpose of having demonstrable evidence that even PCGS can screw up royally; however, if I really wanted to be a horse's rear, I could legitimately demand that PCGS "make me whole", even if I knew what I was buying when I bought it. That's because I bought the guarantee along with the slab.
. >>
Sorry to let you down, but their grading guarantee covers grading and authenticity; your example is defined by them as a "clerical or mechanical error", and you wouldn't be entitled to be "made whole" by them monetarily, only that they would reslab it with the correct country on it. If you paid too much for it thinking it was a Norwegian coin, you'd have to eat your loss. This has been talked about a lot in the past on US coin forum, much to the frustration of forum members.
<< <i>your example is defined by them as a "clerical or mechanical error" >>
I'm not disappointed at all. Makes no difference to me, since I bought it for another purpose, and you stated their guarantee is regarding authenticity and grade, so IMO my intended point is still valid.
<< <i>
<< <i>your example is defined by them as a "clerical or mechanical error" >>
I'm not disappointed at all. Makes no difference to me, since I bought it for another purpose, and you stated their guarantee is regarding authenticity and grade, so IMO my intended point is still valid. >>
just wanted to make sure you were aware; most don't know this, and expect to receive some kind of financial outlay for mistakes like this.