| Author |
 Replies: 11 / Views: 1,489 |
|
|
Pillar of the Community
United States
3540 Posts |
Attended an estate auction today. To say it is interesting, to see a person's entire life on table after table, is somewhat in awe and sadness. On to the coins. 35 Morgan and Peace dollars - bulk in the G/VG/F with a few AU. An 81 CC and 89 CC were also present. 81 CC is a G. No more, no less. The 89 CC was a G6 with a rim bump (no loupe needed). Four of us were talking about the group of silver dollars, of course discussing what our research of recent auction/fleacebay/etc prices are for similar condition. Promptly WATCHED the gentleman sitting at the table promptly bid the 89 CC up to $1500.00!! I could not believe it. I was stunned. THEN...he turned around about bid the 81 CC to $525.00!! I was stunned. |
|
|
|
Pillar of the Community
United States
6370 Posts |
|
|
Pillar of the Community
United States
1314 Posts |
Please tell us more about this auctioneer. I suddenly have some coins to sell. Or maybe he has a shill?
|
|
Pillar of the Community
United States
1068 Posts |
Sounds like this guy has more money then he has "cents" (pun intended)...
Wish I could just throw $2000 around like it wasn't nothing...
I agree with you Chute72... I would sell my whole collection if I could get $2000 grand for it and still be ahead...
|
|
Pillar of the Community
United States
613 Posts |
That reminds me of a guy who paid $21 for 10 ave. circ. 1950's wheat cents. Its actually fun to watch them outbid each other.
|
|
Pillar of the Community
United States
2661 Posts |
I had a similar experience last weekend. I have grown to hate live auctions. It was not so bad up until the late 2000's, that is when the profiteers got into the game and thought old and/or silver meant big bucks. Most of the people around here that are running up bids have antique shops. They put this stuff in the shop with a price of at least double what they paid and wonder why it takes forever to move it. I have an uncle that is the same way. He thinks all Morgans and Peace $'s are worth at least $100 and Ike's are worth no less than $10.
|
|
Bedrock of the Community
United States
19948 Posts |
My experience as well, the people at a non-coin event are clueless as to what coins are actually worth and consistently overpay.
Lincoln Cent Lover!VERDI-CARE™ INVENTOR https://verdi.care/
|
|
Pillar of the Community
United States
3843 Posts |
Quote:
My experience as well, the people at a non-coin event are clueless as to what coins are actually worth and consistently overpay.  There are some deals to be had at estate auctions (some antiques, box lots) but coins and bullion almost always sell at several multiples of their true values. |
|
Bedrock of the Community
United States
20753 Posts |
I seldom go to auctions. Especially estate auctions. In almost every instance, all the relatives and neighbors have been there long before the actual auction. So all you get to look at is the left overs.
|
|
Pillar of the Community
United States
3843 Posts |
Quote:
In almost every instance, all the relatives and neighbors have been there long before the actual auction. So all you get to look at is the left overs. I really don't think that is the case with estate auctions. The heirs usually want the money, not the stuff. Now estate sales, garage sales, and rummage sales are a whole different story with relatives, neighbors, and workers buying/taking everything of value or underpriced before the sale and leaving the remnants. Edited by Joe2007
06/29/2014 5:55 pm
|
|
Pillar of the Community
United States
1804 Posts |
Tim Sroud==================== Quote:
I had a similar experience last weekend. I have grown to hate live auctions. It was not so bad up until the late 2000's, that is when the profiteers got into the game and thought old and/or silver meant big bucks. Most of the people around here that are running up bids have antique shops. They put this stuff in the shop with a price of at least double what they paid and wonder why it takes forever to move it. I have an uncle that is the same way. He thinks all Morgans and Peace $'s are worth at least $100 and Ike's are worth no less than $10. I sincerely wish my addition to this thread here is well received. I am the 155 day newbie here. I was lucky enough to get a few bags of Ikes. Approximately 5 months ago I did sell on ebay (about) half a dozen Eisenhower dollars. Only from my poor memory I did received (APPROX) $75. From memory it was an average of $12.xx === Half the coins I charge $2.95 shipping. One was TONED. Two were GOLD PLATED (puke). Can't remember the rest. Then I sold a LOWBALL for $32.90 So I got back (APPROX) $100 for a few Ikes. Any way === modern coins are on the move. IMHO Ikes are one possible way to go. Especially if you can get the at FACE.  |
|
Pillar of the Community
United States
2335 Posts |
It's been quite a while since I attended an auction. Seems like the people that attend them don't have a clue. That usually means they overpay.
I have made a few scores. One auction I was at had several coin lots. Most of it was junk silver lots. All of those sold for several dollars times face over melt. I was able to buy a few us mint sets & a commemorative set for jut over $100. The commemorative set had a 1/4 oz gold coin. I don't have exact numbers in front of me but posted details about it when it happened.
|
| |
Replies: 11 / Views: 1,489 |
|
Posted 06/28/2014 9:45 pm
