I Don't Understand This Auction - Coin Community Forum

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Author	Replies: 3 / Views: 1,317
brokencompass Valued Member United States 451 Posts	Posted 11/19/2010 3:12 pm I see there are 5, 5 rouble coins on auction. Krause lists the total value of all 5 coins at 1500 (300 * 5) and the actual gold in the coins is less than an ounce($1350). Both ways it does not make sense to me why anyone would bid for more than twice its value with the reserve not being met yet. They are not even very high on the rarity scale with over a million coins minted. I don't understand the economics of the auction :( http://cgi.ebay.com/Russia-Coin-184..._1792wt_1139 Report this Post to the Staff

Litotes Pillar of the Community Norway 510 Posts	Posted 11/19/2010 4:28 pm Last time I saw one if these it sold for just under $1000, and it wasn't a very pretty coin either. I am not in the least bit surprised that the seller should want more than $2651 for his five. The Krause valuations are not in contact with reality. I do not know how scarce these are, but obviously the are mot the most common of Russiand gold coins (that would be the Nicholas II ones). If you can by a Russian gold or silver coin at Krause valuation, jump on the chance. It will be a steal. Report this Post to the Staff
gxseries Pillar of the Community Australia 3831 Posts	Posted 11/19/2010 5:09 pm They are worth at least 800USD at minimum each. Don't look at Krause when it comes to Russian coins because it's completely outdated. Don't use your common sense and look at current gold prices because there's no such thing as common sense. Mintage doesn't mean much. They aren't THAT common because a fair number of them were melted down. Even seeing 5 of such gold coins is quite a feat. My partial coin collection http://www.omnicoin.com/collection/gxseries My numismatics articles and collection: http://www.gxseries.com/numis/numis_index.htm Regularly updated at least once a month. Report this Post to the Staff
snowman Pillar of the Community United States 1840 Posts	Posted 11/20/2010 11:22 am I agree that Krause has not really adjusted their pricing for the recent increase in precious metal values. If you want to see a ballpark figure of what one of these coins is worth, try watching this auction from the same seller: http://cgi.ebay.com/Russia-Coin-184...em20b52c56b5 I've come across this seller several times while looking through bulk darkside auctions. As far as I can see they buy large collections, cherry pick the best coins to sell in feature auctions, then try to quickly sell everything else off in bulk auctions. The bulk auctions can be quite large and almost always have a reserve of over $1000, like the auction that you posted. Report this Post to the Staff
	Replies: 3 / Views: 1,317

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