| Author |
 Replies: 38 / Views: 4,194 |
|
|
|
Pillar of the Community
United States
1283 Posts |
Quote:
That is amazingly stupid.
Is that for real?
What in the world is that coin, if real, 1 of 5, doing in an NGC holder? Let alone any holder at all.
And on top of that, it's got that dumb green CAC sticker verifying it's grade on it too.
Man, I have seen it all now. Is this an april fools joke? I'm kind of confused by your skepticism. Heritage isn't some Mickey Mouse auction house. They've had more than their share of seven figure coins pass through their doors. I'm also not understanding why the NGC holder surprises you. |
|
Moderator
 United States
23522 Posts |
I have to admit, it's not only redundant but downright silly to see a CAC sticker on the Olsen Liberty nickel. Kinda like ordering a Carfax before you buy the Space Shuttle. |
|
Pillar of the Community
United States
1283 Posts |
LOL! SuperDave, I have to agree with you on that. I love the Carfax analogy.
|
|
New Member
United States
26 Posts |
So, ok. Now some people understand the rediculousness.
Look. The 1913 token has a total population of 5. They are pedigreed "coins". Slabbing them so you can place a grade on them is worthless. You could just as easily have graded them 1,2,3,4,5 or a,b,c,d,e or bad, ok, good, better, best or even snoopy, charlie brown, scooby doo, wonder women and the cat lady. The grade is usless here. There are five of them. When you have a mintage of 200,000 and 10 are 67, 55 are 66 300 are 65 so on and so forth, grading the coins makes some real sense. Slabing these five coins and putting a grade on them = worthless. Not to mention the stupid CAC sticker again.
JMHO. of course.
|
|
Rest in Peace
 United States
1380 Posts |
Kind of see Ark's point on the grade. With only 5 out there, it's not like anyone is going to say, "Sorry, I don't want that one, I'm looking for a higher grade." And on a coin of that value, I don't care whose slab it's in, I would get about ten opinions on it's authenticity before I bought it. That's assuming of course that I won about 3 big lotteries in a row.
|
|
Valued Member
United States
436 Posts |
Really, it needs to be slabbed. If I'm going to buy a 2.2 million or higher dollar coin, I really want to know that it's not something that the woner had manufactured just to show around. Call me paranoid, but...
|
|
New Member
United States
26 Posts |
I can guarantee you that when you buy a 2 million dollar coin, the ngc/pcgs slab is the very last piece of documentation you look at if at all.
|
|
Pillar of the Community
United States
1534 Posts |
Quote:
I can guarantee you that when you buy a 2 million dollar coin, the ngc/pcgs slab is the very last piece of documentation you look at if at all. Yes, but it being raw would encourage less bidding and arouse suspicion. Although this only applies to some people. they like the assurance and comfort a slabbed coin gives, especially since it is one of the most famous U.S coins and a great rarity. This was caused by the TPG's, and although some may disagree most people wouldn't buy a high dollar coin like that raw. |
|
Pillar of the Community
United States
1283 Posts |
Quote:
I can guarantee you that when you buy a 2 million dollar coin, the ngc/pcgs slab is the very last piece of documentation you look at if at all. Go look at all of the top dollar coins that have sold on Heritage. Every single one of the coins that sold in the 2-3 million dollar range were in PCGS or NGC slabs. According to RedBook the highest grade 1913 Nickel is "PF66" implying that it, too, has been professionally authenticated and graded. I understand what you're saying about the magnitude of the coin being above and beyond a slab. But apparently it's not completely out of line as one might think. I do agree that the CAC sticker is pretty absurd, though. Edited by USArmyParatrooper
12/24/2009 1:26 pm
|
|
New Member
United States
26 Posts |
I would have to wonder if the auction company requires it then. I don't use heritage too often. Have you ever seen a coin on there site raw? If not, why not?
|
|
Pillar of the Community
United States
2734 Posts |
The two 1913 Liberty nickels that are currently on display in the ANA Money Museum in Colorado Springs, CO are not encased in slabs. I should know, I saw them in person last Tuesday!  Included in the display was a complete list of who has owned all five of the 1913 Liberty nickels, since Samuel Brown's 'set' was broken up in the 1940's. The 'Walton' specimen is on loan to the museum, and the 'McDermott' specimen is now a part of the museum's permanent collection. The Olsen 'Hawaii 5-0' Specimen is the 'token' that Heritage is auctioning. |
|
Bedrock of the Community
United States
17884 Posts |
That's an interesting question. If you took one of those cracked it and had it slabbed by a third tier service and then consigned it to one of the major houses but refused to let them reslab it, would they refuse the consignment? Heritage for one will not auction slabs except for the top two tiers (and they auction very few raw coins) What would they do if they got a major rarity in a third or fourth tier slab and the owner wouldn't let them move it to a top tier slab? (Heritage is a part owner of NGC so most consignments that aren't slabbed already get shipped off to NGC, unless the consignor specifically requests PCGS.)
|
|
Pillar of the Community
 United States
968 Posts |
I don't think Heritage is interested in playing games with people that would do things like that. My guess is that on the big ticket items that they independently authenticate the coin anyway. Even a $2 million dollar coin is only 0.3% of the value of their auctions over the course of the year (they report $700 million in auctions last year), so they may figure that it would do more harm than good to let someone break the rules as then everyone would want to do it. Anyway, that scenario is so unlikely to occur that I can't imagine it ever happening.
|
|
Pillar of the Community
United States
1283 Posts |
Conder, that's not true. Heritage auctions an abundance of ANACS and ICG coins.
|
|
Pillar of the Community
United States
2589 Posts |
I wonder how much the slab itself would be worth, I'm sure it would have collectable value even without the coin in it.
-XoG
|
| |
Replies: 38 / Views: 4,194 |
First Page
Posted 12/22/2009 11:38 pm
