Morgan 1878 8 Tail Feather . Shocking Final Bid Price!

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Author	Replies: 9 / Views: 940
KauaiHawaiiGuy Pillar of the Community United States 612 Posts	Posted 04/25/2022 09:41 am As I was perusing some coins at ebay this morning I saw this 1878 8 tail feather Morgan that sold 4 days ago for over $200. It's an F-15, possibly VF-20 at best, and that's before the graffiti on the cheek and the eagle. PCGS has an F-15 (not damaged) at $65 retail. Even in today's hot market, this is only a $40 to $50 coin at retail. I think there's gonna be some serious buyers remorse once they get that coin in he mail this week. Why do some people get into bidding wars over a coin, and then wind up paying far more than the coin is worth. When this bidding frenzy strikes some people, common sense flies out the window and winning becomes more important than what the coin is worth. There were a few bidders up to about $65, and then these two yahoo bidders and 52 bids later bid this Morgan to over $200. I think the guy that lost the auction is the winner, and the winner is the loser. Report this Post to the Staff

Coinfrog Bedrock of the Community United States 94367 Posts	Posted 04/25/2022 09:48 am Auction fever is a well-known phenomenon. Check the art world. Report this Post to the Staff
Wrekkdd Pillar of the Community Canada 3328 Posts	Posted 04/25/2022 09:52 am I see this happen sometimes on the Facebook groups as well, coins that retail for 20-50$ going for 100$ and over. It's usually two people bidding back and forth and push the price well above retail. That said you can also find plenty of auctions when a coin that retails for 100+ going for well under. Lots of factors can push an auction beyond what something's worth. Report this Post to the Staff
Slider23 Pillar of the Community United States 4469 Posts	Posted 04/25/2022 11:25 am I have gone down the rabbit hole chasing coins at auction. Common sense goes out the door, and for me it has been a stubbornness that will not let the coin go. After a couple of winning bad beats, I set my max bid and stick to it. Report this Post to the Staff
mrwhatisit Pillar of the Community United States 2955 Posts	Posted 04/25/2022 11:29 am Unless this happens to be one of the rare vams that more than one person picked up on... Report this Post to the Staff
Tanman2001 Pillar of the Community United States 4404 Posts	Posted 04/25/2022 1:30 pm I don't think it's the VAM. It looks like VAM-12, which isn't one of the big ones: http://ec2-13-58-222-16.us-east-2.c...878-P_VAM-12 Unless they thought it was VAM-8 with that long extra feather? Report this Post to the Staff
TobyJ Pillar of the Community United Kingdom 1273 Posts	Posted 04/25/2022 3:23 pm Maybe the winning bidder is a millionaire who just happened to want the coin. There's no point making sense of bids. I've seen ultra rare coins go for hundreds less than they should and I have also overpaid by some large margins before (albeit not many times). Report this Post to the Staff
dave700x Rest in Peace United States 10625 Posts	Posted 04/25/2022 3:47 pm Chances are someone thought it was something that it is not. It does appear to be the A1f reverse and the VAM-12 pairing as Tanman posted. Edited by dave700x 04/25/2022 3:48 pm Report this Post to the Staff
JasonKflo Pillar of the Community United States 1694 Posts	Posted 04/25/2022 4:41 pm Maybe they just got done looking at a scar face 1888 o and thought the scar one the cheek looked similar haha Report this Post to the Staff
IndianGoldEagle Bedrock of the Community United States 36770 Posts	Posted 04/28/2022 09:48 am I hope they enjoy it. Report this Post to the Staff
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