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 Replies: 35 / Views: 3,939 |
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Pillar of the Community
United States
6370 Posts |
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New Member
 United States
5 Posts |
Funny I collected baseball cards and they simply have gone CRAZY! I mainly collected Mickey Mantle's. Somehow I looked at a Heritage auction for coins and boy they were incredible. Thus I bought a few and am hooked. I was starting with CC Trade dollars and simply love everything I see. The 1807 just was beautiful and I put in a bid that I thought was a little low but won. That is why I am trying actually start by collecting a set of $2.50 Indian heads. Trying to organize. I need to learn a lot and this site seems incredible but hard for me right now. Thanks for giving me feedback. Danny |
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Valued Member
United States
291 Posts |
I haven't signed up at the Heritage site.What was the low price you got it for?
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Pillar of the Community
United States
4337 Posts |
$44,650 but it went for the same money 4 years ago. I think at the level of this coin and for someone who is not a hobbyist, it's strictly investment and a way to hold money aside from the stock market and bank. The question is, was this the right coin for an ROI or just a hopefully safe way to squirrel away $44K for the time being. @Danny, its a great coin to have and you'll have to ask yourself do you want to continue into investing in numismatics and if so, prior to any more spending, understand where the real rarities of the hobby in your price range reside and go for those for more chance at ROI versus just holding and hoping over any number of years. The only thing I personally request is pics on everything!  I love to  over awesome coinage. |
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Valued Member
United States
384 Posts |
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Pillar of the Community
United States
4469 Posts |
Quote:
$44,650
but it went for the same money 4 years ago. I am not seeing where the OP coin sold 4 years ago. I could not find any records of this coin previously being sold in auction. Where are you picking up the information? |
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Pillar of the Community
 United States
5672 Posts |
Two similar graded coins sold at Heritage for about the same amount in 2012, but I think the OP's coin is nicer. Still, I agree it's a lot to commit without a good understanding of rarities and grading. As an investment, the transaction costs are substantial.
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Pillar of the Community
United States
4337 Posts |
Quote:
I am not seeing where the OP coin sold 4 years ago. I could not find any records of this coin previously being sold in auction. Where are you picking up the information? Two similar coins sold. My point being that the market has not had the needle move on the issue in a 4 year time gap. I would imagine in an investment scenario you'd want to see a return in 5 years of 10%. If I put $44,000 into an Allied Bank CD today for 60 months the rate is 1.75% compounded which gives a return of $48,000. If I lock my $44,000 up in a coin where I paid a 17.5% buyers premium over the actual numismatic value I had better pick the right coin so I don't lose money. Remember, when you sell through HA or one of the houses, you don't see the buyers premium in your bottom line. |
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Valued Member
United States
291 Posts |
I would love to add a coin like that to my collection, but with 3 kids, and 2 about to start college, I can't see parking $40,000+ in a coin with uncertain appreciation ability.
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Bedrock of the Community
United States
10982 Posts |
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If I lock my $44,000 up in a coin where I paid a 17.5% buyers premium over the actual numismatic value I had better pick the right coin so I don't lose money. Remember, when you sell through HA or one of the houses, you don't see the buyers premium in your bottom line. At lot of misinformation here: First off the numismatic value is the total price, not the hammer price. The total price the buyer pays is the numismatic price. Second, many consignors get more than 100% of the hammer price with no seller's fees at all. This is particularly true with large consignors with big dollar consignments. Edited by BH1964
10/09/2016 9:03 pm
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Pillar of the Community
United States
3843 Posts |
Congrats on the purchase! I'm unsure how many of us here can adequately advise you on a coin of this level. You may want to have/hire an experienced/trusted dealer advise you if you plan to stay in this category of collecting. Did you attend the lot preview before the auction? Although Heritage and other big auction houses generally do an excellent job their photos may not be totally representative of the coin and it may be useful to preview in hand, yourself or through an agent.
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Pillar of the Community
United States
946 Posts |
Well that's a way to come onto the scene, cant wait until you find the million dollar coins ahaha
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Pillar of the Community
United States
4337 Posts |
Quote:
At lot of misinformation here: First off the numismatic value is the total price, not the hammer price The "Numismatic" value of the coin should not include a 17.5% fee that the auction house adds to the coin to cover their aspect of the transaction. You really think that is an accurate reflection of the value of the coin? By this logic may I take the Red Book, numismedia FMV or even an ebay hammer and add fees to come to the "true Numismatic value" of the coin? Do I add 17.5% to Red Book? Can I add 13% to my ebay sales and email my buyers and say "FYI, your coin you just won for $100 is actually worth $113 because of the associated fees? I mean why not? Your logic dictates this is the proper way. Quote:
Second, many consignors get more than 100% of the hammer price with no seller's fees at all. This is particularly true with large consignors with big dollar consignments. If the coins in example are not in the multi-six figure and into to the seven figure range. I doubt that HA or DL are splitting fees on $40K coins with the seller. Although I will call and ask today and report my findings later tonight. Edited by dsfreeworld
10/10/2016 08:33 am
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Pillar of the Community
United States
4469 Posts |
The coin sold for $44,650. The 17.5% is included in the $44,650 that is paid for by the seller. The seller could pay less than 17.5% if terms were negotiated with HA. The $44,650 is the value of the coin, and all pricing services (Red Book, NGC, PCGS, Numismedia) use the $44,650 to determin the value of a coin. The pricing services use multiple sales venues for coin pricing such as dealer or ebay sales. Edited by Slider23
10/10/2016 09:29 am
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Bedrock of the Community
United States
10982 Posts |
Quote:The "Numismatic" value of the coin should not include a 17.5% fee that the auction house adds to the coin to cover their aspect of the transaction. You really think that is an accurate reflection of the value of the coin? By this logic may I take the Red Book, numismedia FMV or even an ebay hammer and add fees to come to the "true Numismatic value" of the coin? Do I add 17.5% to Red Book? Are you serious? Ask anybody in any auction field anywhere in the world. Of course it's an accurate reflection of the value of the coin (or any other item). What do you think it is? It's the price (total price) the buyer is willing to pay, which is the market value, which is by definition the numismatic value. It's a simple concept. Quote:Can I add 13% to my ebay sales and email my buyers and say "FYI, your coin you just won for $100 is actually worth $113 because of the associated fees? I mean why not? Your logic dictates this is the proper way. The ebay winning bid is the total price. It is the same as the Heritage total price (which includes the 17.5% buyer's premium). Auction results which dictate market value are the total price a buyer pays. Edited by BH1964
10/10/2016 09:37 am
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Replies: 35 / Views: 3,939 |
First Page
Posted 10/08/2016 9:51 pm
