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Pillar of the Community
United States
2335 Posts |
Haven't looked at the auction so I have no idea what the label looks like but it sounds like they slapped some sort of Pawn Stars logo on it or reholdered it in a Pawn Stars slab. I'm not sure how that's any different from the "first strike" designation or whatever other silly thing people do to slabs to make the coin "worth" more.
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Pillar of the Community
United States
4692 Posts |
Along these lines, does the "Hawaii 5-0" 1913 V nickel have a special label insert? Also, is there enough auction info available to determine if the 5-0 coin commands a premium? |
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Pillar of the Community
United States
1903 Posts |
what provenance does the Pawn Star label add to this coin at all? This wasn't a new discovery, it was already in an NGC holder when the guy came in with it. This was an already know coin. Adding their name to it, in my opinion adds zero added value. Had they been the discoverer of a new one, or a noteworthy collector, then sure....but they are a pawn shop with a show. Is like saying my car is worth more because I won it on the Price Is Right.
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Pillar of the Community
United States
1247 Posts |
unholyroller... They spoke about the firearms issue when they started.
because of the regulations involved in dealing with firearms, they didn't want to have to put up with the paperwork involved.
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Pillar of the Community
United States
1903 Posts |
Thanks Stamp...just seemed odd they seem so eager to play with the guns when they do come it. Most pawn shops deal in modern firearms because they are a major pawn item for loans. As I said..just a hunch..no proof
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Pillar of the Community
861 Posts |
Buyer spent $100,000 for a coin worth $60,000. Seller(Rick) broke even. The only winner was Heritage that made $20,000.
I'm sure we'll be seeing this same coin up for auction again on Heritage very soon.
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Moderator
 United States
23522 Posts |
I don't really have a problem with $100k since it includes the BP. Not for the buyer, at least, who will probably make a ton of money on it with a little patience. This one needs to get held for a few years.
It won't be. Just another musical-chairs "investment coin" which will make some random owner a bunch of money the next time prices spike. A smart owner holds it until then, and it'll return handsomely.
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Pillar of the Community
United States
1158 Posts |
Quote:
Buyer spent $100,000 for a coin worth $60,000. Seller(Rick) broke even. The only winner was Heritage that made $20,000.
I'm sure we'll be seeing this same coin up for auction again on Heritage very soon. How do you determine it is worth $60,000 when it auctions for $100,000? Things are worth what they will sell for and I don't know of a better way to determine real market value than a public auction. |
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Bedrock of the Community
United States
17884 Posts |
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Getting the coin reholdered is like buying Elvis' '59 Cadillac at auction and pulling off the special "Graceland" license plate Elvis had made for it and putting back the original "Memphis GM Dealers" plate back on. Why would you?
I think you have it backward. The PS folks did the equivalent of buying the Elvis Caddy and put their license plate on instead of the Graceland plate. The people here are saying they would dump the Pawn Stars plate in favor of the original one. |
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Pillar of the Community
861 Posts |
"How do you determine it is worth $60,000" Compare this low-grade PR-61 to all the other proofs recently sold: http://coins.ha.com/c/search-result...anded-081514The buyer paid $40,000 for the holder and $60,000 for the coin. Over time, the "Pawn Stars" provenance will deteriorate and the coins true value of ~$60,000 will return. This coin needs to be flipped ASAP before that happens. |
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Pillar of the Community
United States
2543 Posts |
Why is it that when someone says " provenance " everyone immediately equates that with dollar signs? That is not what provenance is. From Wikipedia : Quote:
The primary purpose of tracing the provenance of an object or entity is normally to provide contextual and circumstantial evidence for its original production or discovery, by establishing, as far as practicable, its later history, especially the sequences of its formal ownership, custody, and places of storage. The practice has a particular value in helping authenticate objects. Comparative techniques, expert opinions, and the results of scientific tests may also be used to these ends, but establishing provenance is essentially a matter of documentation. Like the Peace dollar, the history of the '59 Cadillac does not start at Elvis even though the provenance of one particular car might. A '59 Cadillac is a beautiful, collectible and iconic piece of American automotive history, just like the '22 H R Peace dollar is part of numismatic history.The fact that Elvis owned it and painted it pink, may not add to the value (I for one, never got the Elvis thing) but it does add to the provenance, like the recent history of this coin does. Bottom line is, I wasn't saying that being associated with the Pawn Star show is going to add any value to this coin. But as I would not paint Elvis' pink Caddy back to white, I wouldn't eliminate part of the unique provenance of this particular coin. Do I personally think that this label is going to significantly increase the value of this coin ? No, but it could. Do I think that keeping the label is going to hurt the value in any way ? Absolutely no! The coin will always be the coin. You want to be a purist? That is fine. You want to be a coin snob? That is fine too. All I was saying was that the label adds a bit of provenance to the coin (provenance= history, past or present and context) and I would keep what may be a "one of a kind" in history, label. IMHO  |
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Pillar of the Community
United States
1158 Posts |
Quote:"How do you determine it is worth $60,000" Compare this low-grade PR-61 to all the other proofs recently sold: http://coins.ha.com/c/search-result...anded-081514The buyer paid $40,000 for the holder and $60,000 for the coin. Over time, the "Pawn Stars" provenance will deteriorate and the coins true value of ~$60,000 will return. This coin needs to be flipped ASAP before that happens. I don't see prices, but not very many of those are 1922 High relief Matte proofs. And despite what those others sold for, if this is one deluded person, how did the bid get up near $100k? He was bidding against himself? |
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Bedrock of the Community
United States
10982 Posts |
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I don't see prices, but not very many of those are 1922 High relief Matte proofs. Exactly. Only 10 1922 High Relief Matte proof Peace dollars exist as only 10 were struck. The link is for "proof Peace dollars". Granted there's only a few dozen total but it's not a valid comparison. |
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Moderator
United States
23522 Posts |
And when you look at the specific competition - 1922 High Relief Matte finish - you'll note that there's....um....not many to be had for every high-roller cartwheel collector who ever let his ego operate his wallet. These are the coins that set the records, because owning them becomes a matter of ego. All day at $100k. It's a siren call for a select few, and one I'd gladly tie up in inventory. If I could afford to tie up a Hundred Large in one piece of inventory.
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Pillar of the Community
 United States
4592 Posts |
Plus there aren't 10 available, IIRC there are 6 or 7 locked in museum collections.
-----Burton 50+ year / Life / Emeritus ANA member (joined 12/1/1973) Life member: Numismatics International, CONECA Member: TNA, FtWCC, NETCC, EveryCountry (online) coin club Owned by three cats and a wife of 40+ years (joined 1983) Author: 3rd Edition of the Sample Slabs book, https://www.sampleslabs.info/ |
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Posted 01/07/2015 5:28 pm
