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Can't Figure Out Why This Sld Is Gaining So Much Interest.

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MikeF's Avatar
United States
3479 Posts
 Posted 05/13/2017  11:04 pm Show Profile   Bookmark this topic Add MikeF to your friends list Get a Link to this Message Number of Subscribers
This one is graded xf-45 by PCGS. Looks dipped/cleaned to me yet it has 20 trackers and 5 bidders on Heritage which is extremely high. What am I missing?

Can't-Figure-Out-Why-This-Sld-Is-Gaining-So-Much-Interest.

Can't-Figure-Out-Why-This-Sld-Is-Gaining-So-Much-Interest.
Pillar of the Community
United States
3184 Posts
 Posted 05/14/2017  02:39 am  Show Profile   Bookmark this reply Add mkman123 to your friends list Get a Link to this Reply
I agree with you......not a fan of that at all. I like em with a dirty crusty look to them vs overdipped
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panzaldi's Avatar
United States
18665 Posts
 Posted 05/14/2017  09:37 am  Show Profile   Bookmark this reply Add panzaldi to your friends list Get a Link to this Reply
my first thought when I saw this was that it had a lite dip, however, PCGS must have thought it market acceptable to grade it straight. I think the grade is correct
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Coinfrog's Avatar
United States
94367 Posts
 Posted 05/14/2017  4:40 pm  Show Profile   Bookmark this reply Add Coinfrog to your friends list Get a Link to this Reply
Aside from appearing cleaned, it's just not a nice-looking example.
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paralyse's Avatar
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12057 Posts
 Posted 05/14/2017  5:37 pm  Show Profile   Bookmark this reply Add paralyse to your friends list Get a Link to this Reply
It may be an example of a phenomenon that occurs in auction sales, primarily in online listings, but also in the floor at sales too.

Let's say the seller or AH lists a coin like this that obviously is not very attractive to many collectors.

On one hand, you have the bargain hunters. They are drawn to the lot/sale because they believe that the coin's problems will drive bidders away, allowing them to score the coin below market.

On another hand, you have the gamblers and flippers. They have a similar mind state as the bargain hunters but think that either 1) the coin is actually better than the pictures - blind faith in the TPG slab grade - or 2) they can do something to it to improve its eye appeal, such as fake toning; they will then bid on it with the goal of either getting lucky or flipping it after doctoring it.

When you get these bidders into a room, it causes a coin to generate unexpectedly high levels of interest and activity. This SLD would undoubtedly be attractive to all of the above - bargain hunters who hope the cleaning and surfaces will scare people off, allowing them to score a type coin for below market; gamblers who are betting that PCGS's grade is more accurate and/or the photos are worse than what they see; and unethical flippers who would use tricks to either doctor the coin or mislead gullible buyers about its condition.
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billjones's Avatar
United States
1499 Posts
 Posted 05/14/2017  6:55 pm  Show Profile   Bookmark this reply Add billjones to your friends list Get a Link to this Reply
The picture makes you wonder why PCGS graded it. It looks cleaned to me. "Coin Facts" does not make this date out to be a rarity except in Mint State. Since this coin falls well short of that, I don't understand the excitement.

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