heritage auction blowout

[wheat'swheats]

Not to demean what you collect and the coins that you admire, but I view these very high bids, relative to the real value of the items as a reflection of the lower end registry market. Some people what to play the registry game for whatever reasons, which I think are mostly based on ego, but they don't have the big bucks for the classic coins. Or perhaps they are like me, and don't have the money to run with the biggest dogs who have millions to spend. So they push the dickens out of the modern market with these condition rarities.

 

It is not a game I want to play because I enjoy coins from the historical point of view. I mess with the registry, but it does not dictate what I buy. If it did, I won't be buying Charlotte and Dahlonega gold coins and classic American political collectables. I'd be upgrading my registry set with old Proof gold and higher grade (MS-65 and better) Mint State gold type coins.

 

If I REALLY wanted to play the registry game I'd be buying MS-67 modern type coins where you really get a bang for you buck in registry points. From the registy point perspective you are better off buying that material than classic coins, like 1796 Quarter or a Chain Cent in VF.

I collect lincolns because I like lincolns.. I used to have one of the better confederate sets in the country but illness fixed that.. I may build other sets but they will probably be copper also.

[MarkFeld]

This is exactly what I am talking about. In the up coming Heritage sale I wanted a Lincoln in 66 red CAC which was estimated at $280. Knowing that things are going a little high I bid $525 thinking surely I am in the running. I have been outbid already, and this is a very common Lincoln just in high grade.. Is it just registry collectors have deep pockets, CAC is demanding that much of a price increase or all the above? Yes I know that back in 2005 some coins brought high prices ( above what you would think they would bring), but like I said there were nuts in 2005 also, who had more money than brains. I do not want to pay so much for a coin, that if the registry craze ends, I'll have to chocolate coat all my coins to make them taste better when I have to eat them.

 

You said the coin "was estimated at $280" - who provided the estimate?

Heritage

 

I work for Heritage and am not familiar with our providing "estimates". Could you post a link? Thanks.

[wheat'swheats]

This is exactly what I am talking about. In the up coming Heritage sale I wanted a Lincoln in 66 red CAC which was estimated at $280. Knowing that things are going a little high I bid $525 thinking surely I am in the running. I have been outbid already, and this is a very common Lincoln just in high grade.. Is it just registry collectors have deep pockets, CAC is demanding that much of a price increase or all the above? Yes I know that back in 2005 some coins brought high prices ( above what you would think they would bring), but like I said there were nuts in 2005 also, who had more money than brains. I do not want to pay so much for a coin, that if the registry craze ends, I'll have to chocolate coat all my coins to make them taste better when I have to eat them.

 

You said the coin "was estimated at $280" - who provided the estimate?

Heritage

 

I work for Heritage and am not familiar with our providing "estimates". Could you post a link? Thanks.

You know as well as I that Heritage puts a historical sale price on their coins. now you can call it what ever you want estimate or previous sale price. It does not matter to me. I don't think it is that unclear to what I refer. Mr. Jones seems to have understood immediately.

.

[MarkFeld]

This is exactly what I am talking about. In the up coming Heritage sale I wanted a Lincoln in 66 red CAC which was estimated at $280. Knowing that things are going a little high I bid $525 thinking surely I am in the running. I have been outbid already, and this is a very common Lincoln just in high grade.. Is it just registry collectors have deep pockets, CAC is demanding that much of a price increase or all the above? Yes I know that back in 2005 some coins brought high prices ( above what you would think they would bring), but like I said there were nuts in 2005 also, who had more money than brains. I do not want to pay so much for a coin, that if the registry craze ends, I'll have to chocolate coat all my coins to make them taste better when I have to eat them.

 

You said the coin "was estimated at $280" - who provided the estimate?

Heritage

 

I work for Heritage and am not familiar with our providing "estimates". Could you post a link? Thanks.

You know as well as I that Heritage puts a historical sale price on their coins. now you can call it what ever you want estimate or previous sale price. It does not matter to me. I don't think it is that unclear to what I refer. Mr. Jones seems to have understood immediately.

.

 

Yes, he guessed correctly. I prefer to know, rather than guess.

 

From the sketchy information you provided, we have no idea when the previous example sold or how it might have compared to the current one.

 

Earlier, you posted that you were shocked one of your bids was unsuccessful, when it turned out you bid only a fraction of what the most recent example of the same grade had realized. So yes, I admit, I wanted to understand, rather than guess, what you meant by "estimate". I'm guilty.

[mrkbrown8709]

This is strictly curiosity. How many of you got blown completely out of the water in the last Heritage auction, and I am not talking about losing by just a few bucks, but totally shot down? For example on all the lincolns I bid on I lost by at least a $1000 or more. This is this was the first auction I came up a total goose egg, and was dumbfounded by the amounts I lost by. I bid $2500 on the 1953 ms67 red and it went for $14100 with b/p. Did many of you have the same experience?

 

u sympathize with you sir, I got sent with my tail tucked from the BARBER Quarters I bid on going anywhere from 2hundred to 4 hundred more than I bId.. trust me my bids were no slouches. On 3 of the coins I was sure I was gna win because I bid probably 100 bucks more on each than they were last sold for.

[BillJones]

On 3 of the coins I was sure I was gna win because I bid probably 100 bucks more on each than they were last sold for.

 

The way prices at auctions go these days, $100 seems like $1 did years ago. Prices are so high, and some collectors seem to have something beyond just "deep pockets." It seems like they have "infinite pockets." With the buyers' fee at what I consider to be an outrageous 17.5% (At Heritage it's 25% for political collectables. ) and some people treating that like a "throwaway" it seems like your bids mean less and less. Then you get into the bidding increments, which can cost you thousands with each step and pretty soon $100 does not seem like very much.

 

It's like when I took my trip to London last fall. In London the pound is a like a penny.