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 Replies: 19 / Views: 2,365 |
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Valued Member
United States
85 Posts |
I am going to a local auction this Friday and they have a bunch of coins for auction there. I have no clue as to what else is there, except for what is pictured below. Also, I have no idea as to a minimum they may want and even so, what I should be looking at paying. Any thoughts? NOTE: These coins pictured are for auction in the lot along with some not pictured or listed. Image:  DSC07900.jpg40.71 KB |
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Pillar of the Community
United States
1179 Posts |
Any silver coins i'd see at an auction i'd start by trying to buy for silver value. go up from their if another collector is in the crowd. Then again, this is my guess since I've yet to go to an auction and do so.
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Pillar of the Community
United States
1934 Posts |
1921 is key. $100 for it would be pretty good. $150 for the lot would be a good buy. Take your grading skills with you.
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Valued Member
United States
164 Posts |
j h s , are you referring to the 1921 Morgan pictured? I was not aware that it was a key. Perhaps you mean the 21 Peace dollar. |
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Moderator
 United States
23522 Posts |
This is a chance to make a key point: Know what you're buying, and buy only what you know. You cannot succeed at auction without precise knowledge of grading and values for the specific coins you're looking at, and if you reach beyond your knowledge the only winner will be the seller. Numismatics is a hobby of preparation and knowledge.
Let's take that 1923 "BU" as an example. In MS63, it's worth about $30. In MS65, it's worth $100. Is it MS63 or MS65? Is it even Uncirculated, or a dipped AU?
You gotta know. That's the bottom line.
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Pillar of the Community
United States
1934 Posts |
rohumpy, DANG ! You're right ! (It was 4 a.m. when I was looking at them...oops).
Thanks.
Jim
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Pillar of the Community
United States
6326 Posts |
 SuperDave is of course "spot on" in his advice as always !.....I absolutely love going to those !.....  But you do have to watch yourself and be careful that you don't get "auction fever"......don't pursue a coin there that ends up going over your alloted "ceiling" that you should be paying for it !....Bring a guide book to help ya with grading when you get there......judge what you'll pay right then and there "before" the auction begins and stick to it !  Pursuing an "auctioned coin" just because you want it, can get ya into trouble ..... the auctioneer will love ya though......whenever two or more people just want something at an auction.....they're cheezin' bigtime.......cause of course they get a cut of the money !...  .....It can and often does go WAAAAAY over what it's worth !......some people with lots of money just don't care or those who just don't know any better and keep bidding it up, are standing right beside you.......it's NOT fun going to auctions when they are present!...  Edited by eaglefoot
04/09/2008 12:04 pm
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Pillar of the Community
Canada
1267 Posts |
This is a chance to make a key point: Know what you're buying, and buy only what you know. You cannot succeed at auction without precise knowledge of grading and values for the specific coins you're looking at, and if you reach beyond your knowledge the only winner will be the seller. Numismatics is a hobby of preparation and knowledge.
Let's take that 1923 "BU" as an example. In MS63, it's worth about $30. In MS65, it's worth $100. Is it MS63 or MS65? Is it even Uncirculated, or a dipped AU?
You gotta know. That's the bottom line.
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Pillar of the Community
United States
533 Posts |
quote:
You gotta know. That's the bottom line.
And knowing is half the battle so says G.I. Joe (sorry I'm a child of the 80's) |
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Valued Member
 United States
85 Posts |
I was thinking about $100 for it sounded about right. Seeing I don't have any of these in my collection, I thought it would be good to start there and go from there. Also, I DO have auction fever because you never know what you can find and for cheap....sometimes. I'm such a treasure hunter. Hopefully, I'm going to get my metal dectector this week.
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Pillar of the Community
United States
527 Posts |
Sound advice SuperDave, If you don't know what your buying, you probably shouldn't buy it. Take a Red Book along for reference. I usually try to buy for less than the value listed in the book. If the price gets close to the Red Book value, I'd stop bidding. Why buy it at an auction when you can buy one for the same price from a reputable dealer. I would bid higher only if the coin is rare. |
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Moderator
United States
23522 Posts |
quote:
I was thinking about $100 for it sounded about right.
OK, let's have some fun with this, to illustrate my point. A little test, open to everybody: which is the 63, and which is the 65? The reverses are not relevant to the grade with these two.   |
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Pillar of the Community
United States
527 Posts |
I am sensing this is a trick question. I know how good you are a photographing coins, so I am thinking you may have played with the lighting.  I will play along anyways. I believe the top coin is the 65, but the lighting is brighter and giving off a glare, it could be hiding some smaller imperfections. However given at face value, the bottom coin has some small dings by the L in liberty, which could lower the grade. Final answer, Top 65 Bottom 63. Or can I use my 50/50 life line? P.S. I haven't seen you around much lately. It's good to hear from you. Have you been on vacation? |
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Moderator
United States
23522 Posts |
quote:
I am sensing this is a trick question.
Kinda. They're not my photographs.  I've been having a hard time reaching the keyboard lately - new (variable) hours at work, just put the house on the market, getting divorced, been kinda busy lately.  |
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Pillar of the Community
United States
527 Posts |
I think I just failed. The top coin does look as if it has been dipped. The color of the bottom coin is more original. Now I don't know what to think.
P.S. I hate tests, this is probably why I almost failed High School.
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Pillar of the Community
Canada
1267 Posts |
The lower coin has a very weak strike which should rule out the ms65, the upper coin has a hammered strike but has become a widget (looks dipped out). From the images provided, I'll go ms64 for the first coin (pcgs), the second I would grade ms63.
Edited by hadleydog
04/09/2008 10:04 pm
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Replies: 19 / Views: 2,365 |
DSC07900.jpg
Posted 04/09/2008 05:08 am
