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I Don't Win Auctions Anymore. How Should I Adjust My Bidding?

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Pillar of the Community
United States
910 Posts
 Posted 02/14/2021  10:52 pm  Show Profile   Bookmark this reply Add NumisEd to your friends list Get a Link to this Reply
Tonight I participated in a Great Collections auction for an 1859 IHC and a 1892 Barber Half. But this time I decided to hold firm on my limit and as a result didn't win either.
The IHC in MS62 condition went for an astronomical $561 (includes BF) while the Barber in AU Details condition went for a crazy high $545 (includes BF).
Edited by NumisEd
02/14/2021 10:53 pm
Valued Member
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United States
170 Posts
 Posted 02/15/2021  01:18 am  Show Profile   Bookmark this reply Add Winesteven to your friends list Get a Link to this Reply
The 1859 IHC is a sought after Type Set coin made in ONLY that one year, as it's the one with no shield. The PCGS Retail Price Guide is $550. While the prior sale at GC on January 10, 2021 went for only $373, compare the eye appeal of that coin with the one sold tonight. The one in January has MANY unattractive green spots all over the obverse, where tonight's coin was more attractive.

This example of price differentiation is exactly what I described to you in your other IHC thread - looking at Greysheet pricing commoditizes coins, ignoring differences in eye appeal. Coins with nice eye appeal sell for more than those with lesser eye appeal, and depending on the eye appeal, one may have to pay up for that.

While the high bidder got it for $561, the underbidder was willing to pay $550, and the third highest bidder was willing to pay $517, all pricing with the BF. That tells me this coin apparently had real nice eye appeal compared to others graded MS62 by PCGS.

As for the 1892 Barber Half that sold tonight for $545, it was NOT AU Details, but UNC Details, which makes all the difference in the world! It's a very attractive coin that was Detailed by NGC due to a slight bend in the coin. Apparently the buyer was willing to tolerate that bend which might not be too noticeable in order to get that very attractive coin at less than MS62 money. I'm not an excellent grader, especially from looking at GC photos, but the strike looks super sharp, and the fields and devices on both sides look problem free. If someone with good grading skills chimes in and tells me this coin would grade as an MS65 had it not been for that bend, the thinking of the high bidder and underbidder is understandable.
A day without fine wine and working on your coin collection is like a day without sunshine!

My collecting "Pride & Joy" is my PCGS Registry Dansco 7070 Set:
https://www.PCGS.com/setregistry/ty...edset/213996
Edited by Winesteven
02/15/2021 01:28 am
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