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I Was Outbid! Fantastic!

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 Posted 04/03/2021  10:00 pm Show Profile   Bookmark this topic Add NumisEd to your friends list Get a Link to this Message
This may sound strange, but tonight I was outbid on an auction website and I was super happy it happened.
Originally, I was hoping to own a proof Barber quarter that was graded Details. I had checked the photographs on the auction website and didn't see anything wrong with the coin. So I placed my max bid earlier this week and left it at that.
But the closer it got to the auction date, the more doubtful I became. I checked the photos on the PCGS website and although nothing seemed wrong at first sight, I still got this feeling the coin looked "to good to be true".
Long story short, by this morning I definitely wished I hadn't bid on the coin. But to my surprise, someone else decided to outbid me by $100 this evening!

Hallelujah!
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 Posted 04/03/2021  10:34 pm  Show Profile   Check GrapeCollects's eBay Listings Bookmark this reply Add GrapeCollects to your friends list Get a Link to this Reply
What was it detailed for?
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 Posted 04/03/2021  10:49 pm  Show Profile   Check Billie's eBay Listings Bookmark this reply Add Billie to your friends list Get a Link to this Reply
Been there. Done that
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 Posted 04/03/2021  11:07 pm  Show Profile   Bookmark this reply Add NumisEd to your friends list Get a Link to this Reply

Quote:
What was it detailed for?


Surfaces.
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 Posted 04/04/2021  12:25 am  Show Profile   Bookmark this reply Add PNWType to your friends list Get a Link to this Reply
Great result for you! Somebody else's problem now
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 Posted 04/04/2021  07:30 am  Show Profile   Bookmark this reply Add ijn1944 to your friends list Get a Link to this Reply
Yes, I've experienced the same euphoria.
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 Posted 04/04/2021  10:07 am  Show Profile   Check chafemasterj's eBay Listings Bookmark this reply Add chafemasterj to your friends list Get a Link to this Reply
Things usually happen for a reason. Think it's a case of good karma.
Check out my counterstamped Lincoln Cent collection:
https://www.coincommunity.com/forum...IC_ID=303507
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 Posted 04/04/2021  11:45 am  Show Profile   Bookmark this reply Add KenKat to your friends list Get a Link to this Reply
Whew, off the hook and safely back into the pond!
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 Posted 04/04/2021  5:14 pm  Show Profile   Bookmark this reply Add Winesteven to your friends list Get a Link to this Reply
But your earlier instincts may not have been wrong. For many collectors, it's perfectly fine to buy a "detailed" coin, since you're not being fooled, and can then have a lovely coin in your collection with great eye appeal, often at a price that's much lower than the equivalent coin in that grade that's straight graded. The key is how it looks, and as you said, the auction hi resolution photos looked nice, AND the PCGS True View photos also looked real nice. Chances are high the coin does indeed have real nice eye appeal, but does have surface issues that caused it to be graded "Detailed".

Would you be happier buying a "Detailed" coin that did not look as good?
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
04/04/2021 5:15 pm
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 Posted 04/04/2021  9:26 pm  Show Profile   Bookmark this reply Add NumisEd to your friends list Get a Link to this Reply
This was the coin in question: https://www.greatcollections.com/Co...-Unc-Details
There is NO WAY on earth I am gonna pay $725+ for a coin. Especially not since I am planning to stick the coins I buy in an album.
There are plenty of other Barber quarters that look beautiful too (I am thinking in the range AU55-58), which can be had for much less.


Quote:
Would you be happier buying a "Detailed" coin that did not look as good?


I ain't buying ugly coins.
Edited by NumisEd
04/04/2021 9:27 pm
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 Posted 04/04/2021  10:01 pm  Show Profile   Bookmark this reply Add Winesteven to your friends list Get a Link to this Reply
There's a LOT of merit in buying an attractive straight graded AU55-58 coin, so that's good. But the "Detailed" coin you passed on is no doubt a gorgeous coin, and not ugly in any way. There were three bidders within $75 of each other (the underbidder was only $25 less than the high bidder), and obviously, their way of thinking is OK too - for THEM - obtain a gorgeous Proof coin with a drop dead hammered strike and watery mirrors with luster so brilliant you need sunglasses to keep from getting blinded, at a fraction of the price a Proof coin with similar eye appeal would cost had it not been "Detailed". While like you, I would not buy a "Detailed" coin, as long as a buyer understands the grading issue, I fully understand why some collectors would like to have that coin with phenomenal eye appeal in their collection, especially if they're going to crack it out, perhaps for their unslabbed Type Set.

Suggestion: Be patient and wait for a nice AU58 instead of an AU55. The difference in pricing is only about $30, and a nice AU58 should have much nicer eye appeal. Pops are pretty high, so it shouldn't be tough. If by chance you get lucky and find one of the very few graded as AU58+, consider grabbing it if you like it's eye appeal - it probably won't cost a lot more than an AU58 without the plus. The problem is, there are so few of those.

Happy Hunting!
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
04/04/2021 10:13 pm
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 Posted 04/04/2021  11:05 pm  Show Profile   Bookmark this reply Add NumisEd to your friends list Get a Link to this Reply

Quote:
I fully understand why some collectors would like to have that coin with phenomenal eye appeal in their collection, especially if they're going to crack it out, perhaps for their unslabbed Type Set.


Or perhaps crack it out and send it to NGC hoping they don't notice the surfaces?


Quote:
Suggestion: Be patient and wait for a nice AU58 instead of an AU55. The difference in pricing is only about $30, and a nice AU58 should have much nicer eye appeal. Pops are pretty high, so it shouldn't be tough. If by chance you get lucky and find one of the very few graded as AU58+, consider grabbing it if you like it's eye appeal - it probably won't cost a lot more than an AU58 without the plus. The problem is, there are so few of those.


Another thing I don't understand is why anyone would pay much more for a banged up MS60 or MS62 coin while they can have a nicer AU58 for less.
In fact, that is one reason my French gold Type Set and my Dutch Gulden Type Set is (mostly) in AU55-58 (modern Guldens are MS).
Edited by NumisEd
04/04/2021 11:16 pm
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 Posted 04/04/2021  11:16 pm  Show Profile   Bookmark this reply Add Winesteven to your friends list Get a Link to this Reply
While my collection is 100% PCGS, and while there are always exceptions, I truly believe the experts at NGC will have no problem at all recognizing the problem with this coin.

My worry/concern is if instead of keeping it for their own collection (as I hope they do), that they might crack it out and sell it as a raw coin on eBay without disclosing the problem, to an unsuspecting collector. Shame on them if they do that, as it's things like that that turn potential collectors off from our hobby.
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
04/04/2021 11:17 pm
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 Posted 04/04/2021  11:18 pm  Show Profile   Bookmark this reply Add NumisEd to your friends list Get a Link to this Reply
Or they can send it to ICG who will undoubtedly slab it as PR70DCAM.

Edited by NumisEd
04/04/2021 11:18 pm
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 Posted 04/04/2021  11:19 pm  Show Profile   Bookmark this reply Add Winesteven to your friends list Get a Link to this Reply
Be nice.
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
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