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 Replies: 10 / Views: 1,719 |
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Press Manager
 United States
1420 Posts |
Centennial Auctions - News release from Centennial Auctions, concerning its July 17 auction where five Uncirculated 1936 York County, Maine, Tercentenary half dollars, purchased by their original owner at the time of their initial release, were offered, none graded or encapsulated by a third-party grading service.Centennial Auctions, North Conway, New Hampshire, sold a group of five original Uncirculated 1936 York County Commemorative 50¢ coins for $17,825 at a recent auction in Nashua, New Hampshire.  Centennial had sold the family coin collection a year ago, and these additional coins were recently found hidden away in the back of a dresser drawer. No one knew they were there. The items had been purchased over 80 years ago, and their whereabouts remained a mystery until this spring. Housed in a York National Bank, Saco, Maine, folder with the historical description, they were recently rediscovered when the home was being cleaned. The family was not sure if they were worth anything. Bidding began at $8,000 at the auction, after numerous interested parties made absentee bids. Lead auctioneer Steve Schofield stated "I knew that the coins were exceptional, but never expected this kind of result. It shows the power of an auction. The family is still amazed at the price." Each coin was superbly toned and quite beautiful. Most attendees at the sale were wowed by the look of the group.
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CCF Master Historian of USA Commemoratives
United States
12269 Posts |
I'm careful with my use of superlatives, but almost $18K for five York County, Maine commemorative half dollars is simply unbelievable - especially for raw coins! Even if all five coins were to grade MS-68 (a highly unlikely occurrence), the current market price for such pieces is $2,000 and under (per coin).
A big driver of the sales price was no doubt the original toning which, in general, is attractive. The fact that the five coins have been together since their original issue (and were in an original distribution holder) likely also played a part in the bidding enthusiasm.
I just hope the winning bidder was not planning on a quick flip of these pieces for a tidy profit. At a hammer price of over $3,500 per coin, the number of buyers in today's marketplace who would be willing to pay $4K or more per coin is rather limited. The best bet would be to hold them long-term and wait for the classic commemorative market to recover - something that might take years.
Collecting history one coin or medal at a time! (c) commems. All rights reserved.
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Rest in Peace
United States
17900 Posts |
Yorks are one of the most common MS-67 graded Classic Silver Commemorative. They are also sold in that grade for a fraction of the per coin value pulled in that auction.
Beautiful toning may increase the value at auction, but I can't imagine those examples selling individually for the price paid.
There are those who don't need to care about prices. There must have been at least two such individuals at this auction.
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Moderator
United States
188213 Posts |
Quote:
The fact that the five coins have been together since their original issue (and were in an original distribution holder) likely also played a part in the bidding enthusiasm. This, I think. Someone really wanted that "set" and not just the coins. If that is the case, I do not think they were bought to flip. |
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Bedrock of the Community
United States
94367 Posts |
For sure, what other reason could there be to spend that kind of money? And there must have been at least one other bidder who had the same idea!
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Bedrock of the Community
Australia
21786 Posts |
I have to agree: I really cannot understand why they would get the sort price that they did at auction. Very desirable set of coins, but I don't think that provenance is worth THAT much !  |
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Pillar of the Community
United States
4409 Posts |
What did a single coin sell for back in 1936 when these were first released?
-MV
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Moderator
United States
15416 Posts |
Quote:
What did a single coin sell for back in 1936 when these were first released? $1.50 ... and $1.65 to out of state potage paid buyers. Not sure why this matters in todays market ... the coins just auctioned are indeed lovely ... question the value of such a raw acquisition |
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Pillar of the Community
United States
4409 Posts |
My question about the original cost was that a person able to afford to purchase five of these, in 1936, had to have money to spare. The Depression was still in full swing and I'm sure a good percentage of the population was focused on having a job to make enough money to feed themselves and family.
-MV
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CCF Master Historian of USA Commemoratives
United States
12269 Posts |
In 1936, the US economy was making headway toward recovery with the GDP on the rise. The unemployment rate had fallen to 16.9% -- the first time it had been below 20% since 1931 -- and was down considerably from the 24.9% peak of 1933.
I'm not saying things were rosy, or that money wasn't tight for many (most?), but with over 80% of the country's eligible workers employed, more than a few households could likely afford hobby pursuits.
Collecting history one coin or medal at a time! (c) commems. All rights reserved.
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Moderator
United States
188213 Posts |
Sounds like a fair analysis.
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Replies: 10 / Views: 1,719 |
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Posted 08/17/2017 1:58 pm
