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1878 8TF Bidding War

 
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Pillar of the Community
United States
2787 Posts
 Posted 03/15/2012  12:55 pm Show Profile   Bookmark this topic Add SeatedNut to your friends list Get a Link to this Message
I won't post a link to the auction or pictures until a few days pass and the coin is sure to be in the mail.

The story: I bid about six days ago on a raw XF/AU 1878 8TF, VAM 14.14. I was the first bidder and I expected subsequent bids because the photos clearly showed a 14.14. Around 24 hours before the auction closed it was around $200. I was planning a last second snipe of around $300 but my computer crashed when Microsoft pushed a Windows 7 patch on Tuesday night. When I got it restored, the auction was done and the final hammer was just shy of $1350.

Just curious if any Vammers here were a part of that bidding? Personal opinion is that's a bit high for a raw 14.14 that may or may not grade. I do hope that no bidders believed it was the much rarer VAM 14.19 (similar key diagnostic).
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United States
23520 Posts
 Posted 03/15/2012  1:19 pm  Show Profile   Bookmark this reply Add SsuperDdave to your friends list Get a Link to this Reply
With only a couple known in Mint State, and this one's rep as maybe the "gateway" coin to the real 8TF rarities, it's difficult to assign a value. Perhaps $1350 is a bit high, but it's a number which the market will inevitably catch up to.
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United States
14454 Posts
 Posted 03/15/2012  3:10 pm  Show Profile   Bookmark this reply Add Bryan1315 to your friends list Get a Link to this Reply
I know last years VAMView lists that in AU condition as being worth $3,500.00 and the 14.19 is $9,500.00 in AU. I know the VV is always seems to be a little high but if it was in at least AU condition it may have been worth that price it sold for. Even though I always like to list what VAM a particular coin is when I am selling it, I have noticed that if you do not list it you get more bids because the buyer thinks they are cherry picking the coin. Or at least that is the only thing I can contribute the difference to as I have tried it both ways
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 Posted 03/16/2012  5:46 pm  Show Profile   Bookmark this reply Add twohawks to your friends list Get a Link to this Reply
I saw that sale but did not bid on it. It is and was a Vam-14.14 If the coin is gradable someone got a bargain. Not a Steal! but it's still a bargain.
Edited by twohawks
03/16/2012 5:54 pm
Pillar of the Community
United States
2787 Posts
 Posted 03/19/2012  7:01 pm  Show Profile   Bookmark this reply Add SeatedNut to your friends list Get a Link to this Reply
Well,sufficient time has passed. Here's an historical look at a VAM feeding frenzy.

Here are the pics ... an unattributed 1878 8TF VAM 14.14

The Obverse



The Reverse (A1c)



The PUP of all PUPs



The auction link ... http://www.ebay.com/itm/40028210255....m1423.l2649
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 Posted 03/19/2012  7:44 pm  Show Profile   Bookmark this reply Add Bryan1315 to your friends list Get a Link to this Reply
it doesn't look like it would have a chance at MS-60 or above but I don't really see anything in the pictures that would cause it to not grade either. It looks like it has allot of light on the coin so I am guessing it may look pretty good in hand but the light isn't making it look circulated when its UNC. It would have been a great cherrypick for the price you bid though
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