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How Bad Is The 'Market Acceptable' Problem With Seated Dollars? This Bad!

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MikeF's Avatar
United States
3479 Posts
 Posted 07/24/2018  02:45 am Show Profile   Bookmark this topic Add MikeF to your friends list Get a Link to this Message Number of Subscribers
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Optimist-numismatist's Avatar
Canada
683 Posts
 Posted 07/24/2018  04:46 am  Show Profile   Bookmark this reply Add Optimist-numismatist to your friends list Get a Link to this Reply
How much do coins like this usually sell for?

Like do you think it will sell for only a fraction of book price, or does the PCGS label keep the bidding pretty close to fbv?
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Optimist-numismatist's Avatar
Canada
683 Posts
 Posted 07/24/2018  04:49 am  Show Profile   Bookmark this reply Add Optimist-numismatist to your friends list Get a Link to this Reply
BTW I'm not sure if its just me but does the label look rotated it the slab? Almost like it isn't sealed properly.
Edited by Optimist-numismatist
07/24/2018 04:50 am
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basebal21's Avatar
13014 Posts
 Posted 07/24/2018  05:34 am  Show Profile   Bookmark this reply Add basebal21 to your friends list Get a Link to this Reply
Their pictures managed to wash out some of the detail on the obverse particularly in the head and neck. There's more detail than shows. That was graded between 2005 and 2011 or at least reholder then if it was graded prior to that. It's by no means egregious even if it's not a gem for the grade and better pictures which do exist for that coin would show that. Even though I'd assume it's failed CAC it's not a pariah.

Again though trashing active auctions is bad form and a tactic that some use to try and suppress the price for what they want.


Quote:
. How much do coins like this usually sell for?


1800-2500 for a 40 usually but they don't come up for auction all that often. There's only 10 40s in the PCGS population and 45s can go anywhere from 2300 to well over 5k for the stunners with CAC. There's more 45s than 40s but you're likely facing a big price jump with those. Both XF grades usually only come up a couple times a year in auction so you may also be facing a long wait if you don't want to pay a dealer price.

It's a pretty scare date with a low mintage and a lot of what's graded is in higher grades with obviously a bigger price tag. This one brought a price right in line with expected prices at the time last time it was auctioned so obviously bidders didn't think it was atrocious.

And yea the label did slip loose over the years which can happen on some of those older holders like that
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kanga's Avatar
United States
5825 Posts
 Posted 07/24/2018  09:29 am  Show Profile   Bookmark this reply Add kanga to your friends list Get a Link to this Reply
Am I to assume that the OP thinks the coin is overgraded?
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Andrew99's Avatar
United States
1533 Posts
 Posted 07/24/2018  09:50 am  Show Profile   Bookmark this reply Add Andrew99 to your friends list Get a Link to this Reply
I doubt it, but from the color and surfaces it looks to have been very harshly cleaned. Most Bust Dollars in this condition would have a cleaned designation. I don't know if its because of the rarity of the date that they straight graded it, but something like this would never appear in my collection.
Edited by Andrew99
07/24/2018 09:50 am
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SilverDollar2017's Avatar
United States
8715 Posts
 Posted 07/24/2018  09:51 am  Show Profile   Bookmark this reply Add SilverDollar2017 to your friends list Get a Link to this Reply
I own a coin that was sold by GC once and it looked almost exactly like this one in the photos. In hand it looked different (less of the "cleaned look").

I think this coin looks less cleaned and more market acceptable in hand.

Just a note - here are photos of the coin when it sold in 2011 by Stack's Bowers:

How-Bad-Is-The-'Market-Acceptable'-Problem-With-Seated-Dollars?--This-Bad!
How-Bad-Is-The-'Market-Acceptable'-Problem-With-Seated-Dollars?--This-Bad!

Obviously cleaned a while ago, but has toning around the edges and a brownish color on the surfaces.
Edited by SilverDollar2017
07/24/2018 09:55 am
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chesterb's Avatar
United States
1261 Posts
 Posted 07/24/2018  10:11 am  Show Profile   Bookmark this reply Add chesterb to your friends list Get a Link to this Reply
I sold 4 coins on GreatCollections a month ago and I wasn't happy at all with how they photographed my coins. The two CAC coins looked washed out with hairlines and nothing like they do in hand. The one coin that the toning was too dark looked like a gem. The winning bids were disappointing too. I don't think I will buy or sell there again, at least, until their photos improve. I will say that I'd be further upset if I then saw one of them on a forum like this disparaging their appearance.

It's also another reason why I just like to work with my dealer network and try to avoid the auctions. They know me and what I like and my coins are a more consistent quality. There are no surprises that way. I'm sure I'm missing out on some coins I'd otherwise be interested to acquire but I'm also not wasting money chasing after coins that I'll end up being disappointed with.
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MikeF's Avatar
United States
3479 Posts
 Posted 07/24/2018  11:20 am  Show Profile   Bookmark this reply Add MikeF to your friends list Get a Link to this Reply
It's the same as any other auction coin site. You have to adjust your eye to their pictures. The only way to do this, is by purchasing coins from them. I have good command of interpreting what a coin will look like inhand versus what they look like in GC's pictures b/c I've purchase a boatload of coins from them. Heritage as well. Stacks-bowers photos I still struggle with. Stacks posts 4 images of coins for auction. I have learned to ignore the first two juiced up images.

Thanks for looking up and posting those Stacks images, Silver Dollar. They pretty much look the same as GC's and doesn't change the narrative in my mind that this pig has been cleaned.







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Ploopy's Avatar
United States
1788 Posts
 Posted 07/24/2018  12:12 pm  Show Profile   Bookmark this reply Add Ploopy to your friends list Get a Link to this Reply
Definitely cleaned and I wouldn't pay XF straight money for it. Although the cleaning isn't so bad it still should be details.
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chesterb's Avatar
United States
1261 Posts
 Posted 07/24/2018  1:13 pm  Show Profile   Bookmark this reply Add chesterb to your friends list Get a Link to this Reply

Quote:
You have to adjust your eye to their pictures. The only way to do this, is by purchasing coins from them. I have good command of interpreting what a coin will look like inhand versus what they look like in GC's pictures b/c I've purchase a boatload of coins from them


Doesn't matter, their pics are lousy and much worse than Heritage.
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acloco's Avatar
United States
3540 Posts
 Posted 07/24/2018  3:19 pm  Show Profile   Bookmark this reply Add acloco to your friends list Get a Link to this Reply
I love and hate the term "market acceptable".

Screams - "PROBLEM with COIN" or "CLEANED COIN" or "lowest possible condition for assigned grade" alert.

Just had a facebook discussion with a new dealer about "market acceptable" cleaning/enhancing (if you wish to call it a discussion) about "market acceptable".

Cleaned coins should be in a details holder.

"Conserved" coins....is tough to decide sometimes. Stopping obvious problems from continuing is fine. Otherwise, the coin would be lost.
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basebal21's Avatar
13014 Posts
 Posted 07/24/2018  5:16 pm  Show Profile   Bookmark this reply Add basebal21 to your friends list Get a Link to this Reply

Quote:
I sold 4 coins on GreatCollections a month ago and I wasn't happy at all with how they photographed my coins. The two CAC coins looked washed out with hairlines and nothing like they do in hand. The one coin that the toning was too dark looked like a gem. The winning bids were disappointing too. I don't think I will buy or sell there again, at least, until their photos improve. I will say that I'd be further upset if I then saw one of them on a forum like this disparaging their appearance.


Could not agree more. You are hardly the first to have had such an experience with them, my experience was very similar with poor photos and weak prices and many others have said the same on various forums. Unless it's a modern toner or something like that better material usually does better elsewhere. For me a couple of mine sold there sold pretty quickly for much better prices elsewhere which was just an extra punch to the gut.

Their pictures do seem to be getting worse and worse. Why they keep wanting to wash out the surfaces of things to show tiny marks that don't matter I don't know but so much of the classic material looks awful in their photos


Quote:
Doesn't matter, their pics are lousy and much worse than Heritage.


Even David Lawrence photos are much better and they have only been doing them instead of scans in their auctions for about a year.
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MikeF's Avatar
United States
3479 Posts
 Posted 07/24/2018  8:45 pm  Show Profile   Bookmark this reply Add MikeF to your friends list Get a Link to this Reply
I should have known you had a dog in the fight, Baseball. Sorry for the poor results to both of you.
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MikeF's Avatar
United States
3479 Posts
 Posted 07/24/2018  9:05 pm  Show Profile   Bookmark this reply Add MikeF to your friends list Get a Link to this Reply

Quote:
Like do you think it will sell for only a fraction of book price, or does the PCGS label keep the bidding pretty close to fbv?


I doubt it will sell for a fraction of the price due to the rarity. This is one of the 'big three' very scarce civil war dates: 62's 63's and 64's. But I suspect it will sell on the lower end of Baseball's price range. You can sign up for a free account and watch it.

Here's my original 62. Dick Osburn estimates that there are only 350 survivors.
How-Bad-Is-The-'Market-Acceptable'-Problem-With-Seated-Dollars?--This-Bad!
How-Bad-Is-The-'Market-Acceptable'-Problem-With-Seated-Dollars?--This-Bad!
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basebal21's Avatar
13014 Posts
 Posted 07/24/2018  9:12 pm  Show Profile   Bookmark this reply Add basebal21 to your friends list Get a Link to this Reply

Quote:
I should have known you had a dog in the fight, Baseball. Sorry for the poor results to both of you.


No dog in the fight just had to learn from experience the hard way not to send them better stuff or premium stuff with the exception of monster toned moderns and probably rare holders as well. They seem to do very well there in those areas.

I wish they would fix their picture issue, I was hoping they would be a viable alternative but they went right along with the price hike the Heritage and Stacks did so they didn't even do anything to slow down the fees.

They're an internet only auction house with no floor bidding so they live and die on the quality of their pictures. Considering they generally just take two pictures not writing descriptions or providing any additional info they should be doing a much better job with the pictures than they are. Between no floor bidding and minimal marketing at best of what they are selling where generally if you're lucky it'll get mentioned in a BST post on a chat forum or be one of 20+ scrolling pictures on the home page, I find their fees to be very high for what you get.

Between the buyers sellers and listing fees for things under $500 they're getting almost 20% and the lower the price goes the higher their cut goes. 500-999 They're still getting at least 17.5%. Even over 1k it's still 12.5% plus listing fee unless you are one of the initial dealers who got fee cuts to sign up or you get them to budge off the fees some.


I understand they have to make money that's fine, but for those fees when all you're getting is a picture and little to no marketing those pictures better be more accurate than they have been. It's to much of a risk to wonder if your items are going to look good or not. If they improve their pictures I will certainly change my opinion on them, but from what I have seem the pictures seem to be getting worse this year
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