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Replies: 94 / Views: 14,267 |
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Pillar of the Community
Canada
2495 Posts |
There's no such thing as a true coin auction in Canada.
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Valued Member
 Canada
220 Posts |
Disappointing if this is true. Will have to be careful not to get caught up in a bidding war...
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Pillar of the Community
Canada
4911 Posts |
@twoods. I took a quick look, I need to take another..that 1950 sure looks great though! I would say, if possible, it would be a good idea to have a member who will be viewing the lots to take a look at those coins for you.
Feel free to call me Will.
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Valued Member
Canada
74 Posts |
@doubleeagle59 @twoods I agree that many do that and I find it unethical. I spend time study coins, look historical prices and decide what to bid and then lose it to someone else (auctioneer undisclosed reserve price), but then find it later listed on another auction.
The reason for auctioneer of doing that is having a lower start prices will attract more bidders which may push the selling price higher. But if the final price doesn't reach the "non-public" reserve then they add floor or mail bidder until the real buyer stop bidding or reach their reserve.
I would prefer they put the real reserve as their start prices.
For that reason in my first public auction, I have start prices which are really my reserve prices. For some "Eye Appeal" coins, the start price are 70% or even 80% of Trends value which may push away bidders but that's the price needed to sell.
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Valued Member
Canada
74 Posts |
@twoods
I personally viewed these coins at the last Torex and I can provide these comments for you:
1938 ICCS MS66 Very nice coin and I rate it as 9+/10
I always use a 1 to 10 scale to rate the coin after viewing and I use that rating to decide later-on how much to bid. And since I prefer toned coins, then my rating would be higher than white coin.
1948 ICCS MS66 Also nice but not as much. Rated 8/10 Only one graded MS66 according to ICCS population report. I was the last bidder against the winning bid!
1950 ICCS MS66 Nice and 8+/10
I will bid on these 3 coins again so technically I am helping potential competitor but I am always honest in my assessment :-)
For comparison, here are rating on some of the MS66 listed on my auction: 1940 7/10 (white so lower rating) 1944 8/10 1944 10/10 1952 (2) 9/10 1953 8+/10 1956 9+/10 1956 8/10 (white) 1959 8+/10 1960 8+/10 1961 8+/10
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Pillar of the Community
Canada
4911 Posts |
when dealing with coins of this price and quality eye appeal and toning are major factors but technically they must meet the standards of the grade assigned. as someone who's seen them Hughes, what would you say their quality was based solely on technical grade aspects and not toning and eye appeal?
Feel free to call me Will.
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Valued Member
Canada
74 Posts |
ICCS only does technical grading and rarely gave higher grade for nicely toned coin contrary to PCGS who does that. ICCS check luster and field marks for their grading. PCGS look for high-point more that the field, but will grade higher for nice looking coin.
The 3 of them are well graded (technically) and that's why I bid on the last auction and will bid again on this one. But my chance of winning decrease the more I praise them.
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Valued Member
 Canada
220 Posts |
Thanks the dollarman and to Hugues for the honest assessment...the 1938 is a bit pricy so probably wont bid on it, but may bid on the 1950 coin...I will also be bidding in the upcoming icollector auction with Hugues coins in early November... Now many of these coins don't come up for auction very often, I wonder what the market value of a 1950 MS-66 dime and 1948 MS-66 dime is?
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Pillar of the Community
Canada
2495 Posts |
Stick with ebay. One example. Upcoming auction has a 1959 10c ICCS ms65 starting at $30. Add taxes and buyer's fees and you get a whole lot more. One toned 1959 ICCS ms65 10c on ebay just closed for $10.00!! Go figure. These auction houses are in dreamland with their starting prices in such a depressed market. Also, in the previous post about auction practices, I vote for option #2.
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Valued Member
Canada
74 Posts |
@doubleeagle59 For sure there are some deal on ebay but most of the best Eye appeal coins are more expensive. Collectors who want to sell their top coins will make sure to have a decent reserve. Toned#8800;toned some are much nicer than other. See photos. In the case of the 10c 1959 mentioned, I paid 30$ in 2014 and I won't sell it below that. For sure with 18% it will cost 35.40$ (no sale taxe). Almost 89% Trends value but nice appeal coin worth more. Just bought a 10c 1948 ICCS MS64 at >100% Trends on ebay. I know the market is low, but high grade and nice coins always sell well. It's the regular stock that price are down (like queen dollar, white coins, common years...). And the 10c 1959 sold at 10$ is cheap but compare the look. Personally, I prefer pay more for nicer coins. Perfect example is the $1 1967 PCGS MS65 sold for 3,290 USD on HA (unbelievable crazy price): https://coins.ha.com/itm/canada/wor...bnail-071515There is market for nice coins.  
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Valued Member
Canada
74 Posts |
@twoods Since it's the 1st 10c 1948 graded ICCS MS66, there is no comparison.
For the 10c 1950, only 2 are graded ICCS MS66.
I always check HA and iCollector (Past Items) but since only 2 graded, there is not much recent history as well.
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Pillar of the Community
Canada
2495 Posts |
re: the PCGS ms65 1967 Canadian dollar that sold for $3200 USD..... Somebody lost not only their shirt on that coin, but their mind too. The buyer of that coin was most definitely from the US and he (or she) probably shells out the same kind of dough for the vibrantly toned Morgan dollars that sell for moon money. I don't think there's a Canadian left who shells out that kind of crazy money for toned coins.
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Pillar of the Community
Canada
2495 Posts |
https://coins.ha.com/itm/canada/wor...ption-0715151967 PCGS ms65 Canadian $1 sold for $146.00 So we're talking about a 21 times market value for the multi-toned 1967 dollar that sold for $3200. That coin doesn't even have any lustre and to me, it looks like someone toned that coin in their back room where they keep all their chemicals. This may sound funny, but personally, I prefer toned coins to brilliant white ones. However, I stay away from paying ANY premium for them and I do stay away from the ones that have that certain 'unnatural' look to them.
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Valued Member
 Canada
220 Posts |
I agree toned coins are nicer, but it's important to watch out for ones that look too good to be true...whatever happened with that 1967 heritage sale may have been a glitch or error, it would be interesting to know what really happened as it's pretty rare someone would pay 20 times too much for a coin... Any other thoughts on possible market values of the 1948 and 1950 dimes?
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Valued Member
 Canada
220 Posts |
Also, thanks for the heads up everyone, since it was mentioned here I have checked a few other auctions and noticed coins that "sold" reappearing with the same seller a short time after...it would be interesting to hear one of the coin dealers try to explain this practice...
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Replies: 94 / Views: 14,267 |