Was telling my wife about this as I read on a local news website and she says to me, "They still make those?":headbang:
Inspite of a recession IMO there is lot of money in peoples' hands right know, since they can't invest anywhere: markets moving side ways and banks giving out close to nothing in interst rates. As a result people are spending a lot more money in auctions hoping these turn out to be better investments..
I wonder what the the people who have recently complained (in other CT threads) about auction buyers "paying too much" would say about this? Would they scold the buyer and try to educate him on the fact that he paid more than "book" price and cheated more knowledgeable buyers out of a nice coin? They obviously think the winner of this auction is a complete idiot. Maybe he is, but he got the coin!
Nope! The people who should rethink their buying strategies are the ones with a "chateaubriand taste" on a "hamburger income". Chris
People forget the wealth of top 5% has actually gone up and with no other places to invest they are putting more $$$ into these auctions, last year and half numerous auctions (varying from celebrity merchandise, sports memorabilia, paintings etc) have set records.
Who says they "can't"? They can, they choose not to. They closed down places to invest? Wall street is still open, again they choose not to.
Hmm i don't undersand what your point is yes they choose not to invest because of reasons i said, people are hoarding cash rather than investing. Which leads to them spending more in things like auctions...
Makes you wonder what "the coin" would sell for, huh large cent guys? What about a strawberry leaf or other rarities? Chris
You took the words out of my mouth. When I ran across this article my first thought was of a guy going up to the high bidder with his Red Book in hand and [kindly] telling him he overpaid.
The strawberries sold in Sept of 2009. The NC-2 sold for $264K and the NC-3 sold for $218K. The finest 1795 S-79 sold in the same sale for $1.265 million including the juice and was the first large cent to sell for over a million.
Conder, what do you think "the coin" would go for, the specimen AMERI chain? How about the 68 red wreath? I just remember those from like 15-20 years ago, and how much more spectacular than this coin is.
I really haven't got a clue. It has been a long time since it has changed hands I believe. the last time I know of was when Naftzger sold his early date set to Eric Steiner. I think Eric sold it later but I don't know to whom or for how much. It wouldn't surprise me if it went over 2 million.
I would think at least that. Sometimes its just amazing what US coins go for versus ancient ones. I think its the whole "complete set" thing that drives it. Since we cannot ever get a "complete set" or even know what a "complete set" would BE, I think there is less pressure on special coins here. I mean, an Eide Mar denari, a coin commemorating an event that changed the world, that has been written about for ove 2000 years, and we know there are about 55 of them in existence, and the most pedigreed one can barely ding a million.
I think this will help I got info in my e-mail last week I think they sold 1/04/2012 1.38million.read the Coin News link.:kewl: http://www.coinnews.net/2012/01/06/...t-sets-1-38m-record-in-heritages-fun-auction/
