ANA Heritage Auction -- Buffalo Prices

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Author	Replies: 3 / Views: 1,070
groganking Valued Member United States 131 Posts	Posted 08/02/2008 12:24 pm I was recently grousing about some Buffalo nickels I had submitted bids on at the Heritage ANA show and not won. As I reviewed some of the winning bids on other Buffalos I didn't try for, a few stood out as rather over-the-top. A 1926-S in ANACS AU55 went for $5750. It's a nice rainbow 55, but come on! Then even more shocking a 1914 PCGS Proof in PR67 went for $17,250! That's $12,000 higher than the PCGS Price Guide price, which is notoriously high. What is going on with some of these bids? Report this Post to the Staff

halfabustisbetter Pillar of the Community United States 1984 Posts	Posted 08/02/2008 12:47 pm There's a great section in David Bowers' book (it's discussed on another thread) on how markets get created by dealers/collectors in 'sleeper' coins and series. His theory would surmise that someone has something to gain by having a coin set a record price. That said, PR67 is hard to gauge in a price guide as it's hard to figure a formula when there are registry collectors to consider. Report this Post to the Staff
groganking Valued Member United States 131 Posts	Posted 08/03/2008 8:27 pm I agree that Registry sets may have had something to do with the PF67 but that can't be the whole explanation. The Archives showed that five or six 1914 PF67's had been sold in the last couple of years so it's not as if such a coin will never come along. All the past sales were in the $5000 range. Overall, the auctions seemed overpriced for the Buffalo's. A bit discouraging although I guess I should feel good about the coins I already have. Report this Post to the Staff
eaglefoot Pillar of the Community United States 6326 Posts	Posted 08/03/2008 8:29 pm ....... Bidding that high would have lost me too !......whew !... Report this Post to the Staff
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