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Why did this Teletrade 1953 PCGS MS66 Franklin go for so cheap? Or, did it?
braddick
Posts: 23,414 ✭✭✭✭✭
I love this date- I can't explain why, when it comes to Franklins. This coin looks "all there", or at least to me.
These have either really come down a lot lately or there just weren't enough eyeballs on this auction.
Your thoughts?
Seems like an attractive and scarce coin for the price.
These have either really come down a lot lately or there just weren't enough eyeballs on this auction.
Your thoughts?
Seems like an attractive and scarce coin for the price.
peacockcoins
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Would help if I added the Teletrade auction LINK.
1953 PCGS MS66 Franklin half dollar LINK
peacockcoins
I remember owning that coin quite a few years ago - and when I saw it come up for auction I was prepared to go 500$ to get it back.
But as the auction went along I tried to remember why I sold it and it was because of that "spot" @ 9 o'clock .
It is a very , very pretty coin and should have brought closer to $500 . I was willing to sell the two MS66 examples I already have to finance
this one - but took my finger off the trigger for the reason stated above .
I see that the 1953 in MS66 has brought near the 500$ level in the recent past although that could be due to manipulations .......
And to beat the dog - the Franklin market ,which I monitor on a daily basis, is very depressed . I see a registry caliber collection
is coming up on Heritage soon ...many of the dates in MS66 FBL and many brilliant .
I believe that as prices spiral ever downward ,some ,due to panic and/or the dismal economy - will begin the wholesale dumping of Franklins.
This is a horrible time to try and sell Franklin's , but I see more high powered stuff hitting the market now then I can remember seeing in many a year.
The highs of 2001 and 2002 , when many a Franklin sold in the 3000 to 7000$ range will return , I just can't say when
U.S. Type Set
<< <i>
And to beat the dog - the Franklin market ,which I monitor on a daily basis, is very depressed . I see a registry caliber collection
is coming up on Heritage soon ...many of the dates in MS66 FBL and many brilliant .
I believe that as prices spiral ever downward ,some ,due to panic and/or the dismal economy - will begin the wholesale dumping of Franklins.
This is a horrible time to try and sell Franklin's , but I see more high powered stuff hitting the market now then I can remember seeing in many a year.
The highs of 2001 and 2002 , when many a Franklin sold in the 3000 to 7000$ range will return , I just can't say when >>
As someone who watches this market closely, is it your opinion that the top end coins have had the biggest downturn? Because the coins in this series that I collect, raw and/or in the 64ish range, seem to be selling for just about the same prices.
Just wondering...Mike
peacockcoins
I too thought the mid-range stuff was in a free fall, not the top of the grade material.
Perhaps Franklins offer their own set of circumstances, right now.
Long term? Not being an expert of the series, but kind of knowing how people think (call it an occupational hazard), too many collector were born and raised during the time these large silver coins were being minted not to warrant more attention in the future. More attention equates to tighter supply (among the top tier coins) and thus higher prices.
peacockcoins
That is a lot of coin for the money! I would even say that was a bargain! I like it a lot.
and they're cold.
I don't want nobody to shoot me in the foxhole."
Mary
Best Franklin Website
and PCGS love of the GENNY
I would be reluctant to pay top dollar for a coin that may be 65 at best if submitted raw to PCGS today
hard to tell from pics, you probably got a score- you will know when arrives
peacockcoins
<< <i>PP, that's an interesting look. My best guess is envelope toning. >>
BINGO ! without scrolling down as I see Bushwhacker has added something to this post - I think he made the coin or had something to do with it .......
I would say 97% it's envelope toned
<< <i>The spot bothered me a bit too, but not enough to stop me from bidding and win the coin. >>
oh you dog !!!
oh hell yes ; the average MS66 FBL Franklin has lost it's shirt ............
MS 65's have been slaughtered as well , percentage wise I think both grades have similar losses .
Some of the MS 66 FBL key dates have plummeted dramatically and even though the PCGS Price guide has made major
price corrections for them -they still have to lower their figures significantly more if they want them to portray true selling levels.
The Franklin segment of the PCGS Price Guide is proped up artificially high by the top Franklin dealer in the country .
Raw coins and MS64's have dropped slightly -but I do not follow such coins like I do the MS 65, 66 stuff .
.........and I watch those like a hawk
well done
<< <i>...and hey ...........I saw you bid on it with less then 60 seconds to go .......
well done
And $300. was my max bid too.
That's either lucky or just strange.
peacockcoins
And yes, all the best material comes out of hiding when the economy is in the toilet, or when the owner's financials are in the toilet.
<< <i>...And yes, all the best material comes out of hiding when the economy is in the toilet, or when the owner's financials are in the toilet. >>
I would definitely not say that all the best material comes out when the economy is in the toilet. There is a reason coin collectors talk about "strong hands". By definition a collector like that can hold on to material until things turn around.
Now, OTOH, when the owner's financials are bad, then yes, definitely, you can certainly find some nice coins at reasonable prices.
U.S. Type Set
<< <i>
And yes, all the best material comes out of hiding when the economy is in the toilet, or when the owner's financials are in the toilet. >>
Ok, maybe not all the best material but some or most of it will hit the market when money is needed by the owner.
I wouldn't sell my favorite coins unless I had to, for financial reasons. And I'm sure that's how it happens most of the time.
Successful Trades: Swampboy,
<< <i>The strike looks weak to me >>
..........it's a '53
"most '53-P's are very similar to the average 1953-S in appearance , which is the weakest struck date in the series "
"the strike on a '53-P is among the worst in the series "
" several flat struck pieces have been graded in MS66 with clean but rather dull surfaces ......."
rainbowroosie April 1, 2003
Liberty: Parent of Science & Industry
<< <i>Lacks eye appeal; weak strike; you could do much better. >>
BILL ! it is a very eye appealing coin and has an average strike for the date........
much better would be one hellova coin and involve a long search and a heap more money
and they're cold.
I don't want nobody to shoot me in the foxhole."
Mary
Best Franklin Website
<< <i>Lacks eye appeal; weak strike; you could do much better. >>
Stab me in the heart with a rusted spike, brother!
The jury is out for me until the coin arrives. I have a way of "reading" Teletrade photos and I think I see something kind of special with this one.
It should arrive on tomorrow, and I had planned on shooting other coins for auction and will include this Franklin so I may post photos here.
Really? Lacks eye appeal?
Dang. I have stomach pains from reading that opinion, and I haven't even eaten my wife's "special" home made turkey stuffing yet (hint: she uses sausage and raisins).
peacockcoins
<< <i>
<< <i>Lacks eye appeal; weak strike; you could do much better. >>
Just the wine talking...
and they're cold.
I don't want nobody to shoot me in the foxhole."
Mary
Best Franklin Website
the T.T sale @ 330$ was supposed to be a steal
<< <i>I woulda bid that coin much higher, only 1 problem kept me from it.
1) Braddick blocked me on Ebay several years ago right after I returned a couple Washies (despite very positive feed back on my part).
Never understood why someone would block bidders because of returns. >>
Point one: I'm not the one that sold the coin, greattoning did, on consignment.
Point two: I've never blocked anyone for simply returning a coin.
peacockcoins