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 Replies: 8 / Views: 1,347 |
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New Member
United States
26 Posts |
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Pillar of the Community
United States
1277 Posts |
Just a case of someone realizing the coin is worth more on the ebay market |
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Valued Member
United States
291 Posts |
Right place right time for a seller. I'm not sure if flipping these types of coins in such a short time period would constitute a good business venture.
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Pillar of the Community
United States
3343 Posts |
I donated some work boots to Salvation Army and saw them sell on ebay in 2 weeks for way more than I thought they were worth. So seeing the coin flipped so fast doesn't surprise me. I don't fault the seller at all. I think he recognized the value of the slab. Most 1870-cc's have problems. It's a popular coin too, so authentication and Heritage provenance are security for a buyer. "Two minutes ago I would have sold my chances for a tired dime." Fred Astaire
Edited by thq
11/13/2014 12:08 am
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Bedrock of the Community
United States
17884 Posts |
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I wanted to get some opinions on whether a $495 profit in 2 weeks on a coin like this was good business or a complete ripoff. Sounds like a good business for the seller. No one held a gun to the ebay buyers head, and he had the chance to buy it two weeks earlier in the Heritage sale just like the seller did. The seller also took the risk that he WOULDN'T be able to sell it for a profit. He could ask whatever he wanted to for the coin, but that didn't mean he would be able to sell it. He just got lucky that someone saw it that was willing to buy it at that level. |
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Pillar of the Community
United States
1704 Posts |
What many people on this forum fail to comprehend is that a LOT of collectors do not browse Heritage Auctions or other major auction companies. I do not because I will never bid in their auctions because of their buyers premium. For those of you who are not familiar with Liberty Seated dollars there were just four years the Carson City Mint struck them, 1870 to 1873. The Numismedia values for each date in Good condition are: 1870 $780.00 1871 $2,160.00 1872 $1,890.00 1873 $5,910.00 1870 is the only Carson City dollar that is "affordable" of the four years and even these are not very easy to find problem free, especially in the lower grades. Liberty Seated collectors know this and have no problem paying a premium for such an original problem free coin such as this. |
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Moderator
 United States
23522 Posts |
This is one issue where it wouldn't be surprising if there are more interested collectors than extant slabs. Not much record to base a value upon, and I'm not so sure the ebay price was unrealistic. Good on the seller. And frankly, I kinda like his insertion of an image of his Feedback in the auction copy. Happy customers, large-dollar coins. Smart. |
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Bedrock of the Community
United States
17884 Posts |
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What many people on this forum fail to comprehend is that a LOT of collectors do not browse Heritage Auctions or other major auction companies. I do not because I will never bid in their auctions because of their buyers premium. So instead when you buy from a dealer (for items they have bought at auction) you pay the auction price, plus the buyers premium, plus the dealers markup. |
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Pillar of the Community
United States
1704 Posts |
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So instead when you buy from a dealer (for items they have bought at auction) you pay the auction price, plus the buyers premium, plus the dealers markup. Not most of the time. I have known a coin wholesaler for over thirty years and get the majority of my coins from him at the same price he wholesales coins to dealers. He does not buy any of his coins at auctions. He has a list of what I am looking for in the grade ranges I want. Because of our long term relationship he knows exactly what I like and do not like so when he finds me a coin on my list he knows I will buy it. The prices I pay range from about 10% under grey sheet bid to bid price for raw and non CAC graded coins or grey sheet ask if the coin is CAC stickered. |
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Replies: 8 / Views: 1,347 |
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Posted 11/12/2014 11:52 pm
