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Accidentally bought a 1915 Pan-Pacific -- How did I do?

 
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 Posted 09/12/2018  12:25 am Show Profile   Bookmark this topic Add Alpha2814 to your friends list Get a Link to this Message
Here's the background... I've reached the point in my collection where I've started looking on Heritage. I'd resisted in the past because I struggled with the interface and the 20% buyer fee is a little intimidating. Besides, I'd always been able to find something (less expensive) I wanted elsewhere. I did put a couple of things on my wishlist though.

A couple of weeks ago, a 1915 Pan-Pacific silver commemorative popped up, PCGS MS64. It had a bit of toning but it adds some character and highlights the design. There are a few hits but the lines on the shield on the reverse are all pretty clean. And it doesn't have that much of a ring around the rim that is so common on this piece, which is something I've really looked for. I decided to place a practice bid to get familiar with the process.

The PCGS CoinFacts page shows previous sales for MS64 in the $600 to $1000 range. For a practice bid I was willing to win with, I went for the low end of this scale. I ended up winning with $576 (after the buyer's fee) -- that's my purchase as "9/18 HA" with the link to the listing.

Here's the question: This is now the least expensive prices among the PCGS graded pieces shown on their CoinFacts page., which makes me wonder now -- did I get a bargain, or did I buy a problem piece? I don't have it in-hand yet, so I can't answer many questions. I'm curious what we think so far.


Working on: Peace dollars (two to go), US type (Bust era), Chinese pandas, and San Francisco tokens.

"Fear is the enemy of will. Will is what makes you take action; fear is what stops you, and makes you weak."
-- Sinestro to (my avatar) Hal Jordan, "Green Lantern" (2011)
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 Posted 09/12/2018  12:36 am  Show Profile   Bookmark this reply Add basebal21 to your friends list Get a Link to this Reply

Quote:
This is now the least expensive prices among the PCGS graded pieces shown on their CoinFacts page., which makes me wonder now -- did I get a bargain, or did I buy a problem piece?


The DL one is a CAC coin with a bit of colorful toning so that one isn't really a comparable.

You seem to have paid a fair price for that one from what I think the eye appeal will be. Auctions can be hit or miss and right now there's a bit of buying fatigue after two major shows in the last month, and the time of year it is. There's also a massive storm baring down on the east coast which takes basically three or more states out of the bidding process at the moment.
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 Posted 09/12/2018  01:02 am  Show Profile   Bookmark this reply Add commems to your friends list Get a Link to this Reply

Quote:
… which makes me wonder now -- did I get a bargain, or did I buy a problem piece?

I don’t believe you bought a problem coin. I believe you purchased a coin with visual aesthetics that differ from what the majority of current collectors seek.

My thoughts on what potentially drove your winning “bargain” bid:

The market for classic US commemorative coins is rather soft at the moment. It has shown some signs of strengthening, but it is still not close to being strong enough to drive prices to previous levels. Coins that do not have “the look” that appeals to a significant majority of collectors tend to perform the weakest in such markets.

Looking at the original images on Heritage’s web site, I would say that your coin’s primarily brown toning has created darkened and muted surfaces vs. those that are bright and lustrous. IMO, this limits the number of collectors who would seek it. While there are certainly fans of toning out there - especially toning that exhibits pastel coloration - the majority of today’s collectors tend to favor brilliant and lustrous coins.

Fortunately for you, you find the coin’s toning attractive and appealing. That’s great! We all need to collect the coins that make us happy.

Be happy! You got a good deal on a one of the most attractive classic designs of the commemorative series.


Collecting history, one commemorative coin (or medal) at a time!
Original content (c) Commems, 2012-2018
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 Posted 09/12/2018  11:20 am  Show Profile   Bookmark this reply Add Coinfrog to your friends list Get a Link to this Reply
commems - Well said as usual. In a word, the coin lacks "pop".
Edited by Coinfrog
09/12/2018 11:20 am
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 Posted 09/12/2018  1:06 pm  Show Profile   Check oih82w8's eBay Listings Bookmark this reply Add oih82w8 to your friends list Get a Link to this Reply
Don't discount ANY images from Heritage...it should look a lot different in hand...hopefully BETTER!

Looks like you a RPM FS-501 as well! Is there an additional "S" to the West of the Mint Mark?

If so, no added value...but it is a Variety!

http://www.PCGScoinfacts.com/Coin/Detail/145748
oih82w8 = "Oh I Hate To Wait"
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My Virtual 7070 https://www.PCGS.com/SetRegistry/ty...album/142105
Edited by oih82w8
09/12/2018 1:12 pm
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 Posted 09/12/2018  1:22 pm  Show Profile   Bookmark this reply Add Alpha2814 to your friends list Get a Link to this Reply
Thanks all for the comments! I am looking forward to seeing this in-hand (it hasn't shipped yet) and I'll post an update when I do.

I'm not usually a fan of toning. In this case, I was more interested in the lack of an obvious ring, which is a negative "pop" on most of the other pieces I've seen, especially those which are otherwise blast white. As my collection is going back in time, I'm learning to accept that imperfections will exist. It's all in finding a piece I want, and this was a candidate.

I'll definitely look for the RPM. I didn't notice is on the HA image but it does look like it's there now that I look at the full size version. That would be cool, even if it doesn't carry a premium.
Working on: Peace dollars (two to go), US type (Bust era), Chinese pandas, and San Francisco tokens.

"Fear is the enemy of will. Will is what makes you take action; fear is what stops you, and makes you weak."
-- Sinestro to (my avatar) Hal Jordan, "Green Lantern" (2011)
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 Posted 09/12/2018  3:00 pm  Show Profile   Bookmark this reply Add jbuck to your friends list Get a Link to this Reply

Quote:
I am looking forward to seeing this in-hand (it hasn't shipped yet) and I'll post an update when I do.
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 Posted 09/12/2018  10:48 pm  Show Profile   Bookmark this reply Add ty88ty2 to your friends list Get a Link to this Reply
No professional on what its worth, but I think that coin is quite attractive myself.
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 Posted 09/12/2018  11:16 pm  Show Profile   Bookmark this reply Add SilverDollar2017 to your friends list Get a Link to this Reply
Looks like it is nice for the grade. Some collectors might not like the toning which most likely is what drove the price down. Still a really nice coin, and looking forward to photos in-hand.
Collector of all classic US coinage.

How to identify cleaned coins: http://goccf.com/t/319679
Edited by SilverDollar2017
09/12/2018 11:17 pm
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 Posted 09/12/2018  11:37 pm  Show Profile   Bookmark this reply Add CelticKnot to your friends list Get a Link to this Reply
Sounds and looks like a winner to me. Love that design.
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 Posted 09/12/2018  11:51 pm  Show Profile   Bookmark this reply Add Beefer518 to your friends list Get a Link to this Reply
Nice pick up!

It's definitely the RPM FS-901. When you get it, this is what it'll look like;


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 Posted 09/15/2018  12:22 am  Show Profile   Bookmark this reply Add CelticKnot to your friends list Get a Link to this Reply
Let's see pics when you get it!

By the way.. your title... "accidentally" cracks me up. Sounds like something I'd tell my wife, which she'd call me on immediately.
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 Posted 09/15/2018  12:45 am  Show Profile   Bookmark this reply Add Alpha2814 to your friends list Get a Link to this Reply
USPS says I should have it tomorrow.
Working on: Peace dollars (two to go), US type (Bust era), Chinese pandas, and San Francisco tokens.

"Fear is the enemy of will. Will is what makes you take action; fear is what stops you, and makes you weak."
-- Sinestro to (my avatar) Hal Jordan, "Green Lantern" (2011)
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 Posted 09/15/2018  01:19 am  Show Profile   Bookmark this reply Add CelticKnot to your friends list Get a Link to this Reply
indeed!
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 Posted 09/15/2018  4:12 pm  Show Profile   Bookmark this reply Add Alpha2814 to your friends list Get a Link to this Reply
Arrived today. It is RPM FS-901, and it's a bit darker/duller than in the Heritage pics but it looks better in natural light.

I'd put my own pics in this post but I have to optimize them first and this will be the last post on this page. So I'll just close this reply so the pics will be on the top of Page 2 and you won't have to click around...
Working on: Peace dollars (two to go), US type (Bust era), Chinese pandas, and San Francisco tokens.

"Fear is the enemy of will. Will is what makes you take action; fear is what stops you, and makes you weak."
-- Sinestro to (my avatar) Hal Jordan, "Green Lantern" (2011)
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