About a year ago, I looked on Craigslist and a non-coin collecting guy had for sale 3 large cents graded by NGC with an Eliasberg pedigree for $100 total. They are lower end coins, but still cool. I got an 1844 F15, 1847 VF30 and an 1857 VF25. I looked on Heritage website and a couple of these coins sold years ago for around $200 each. I had a local dealer say the 1844 is only about $50 now. Has the name Eliasberg lost its luster and the market get saturated with these, or is the excitement just gone now? I can post a pic of the 1857 in my next post.
I would be worried that they are stolen. Don't know why a "non-coin collecting guy" would have pedigreed, graded coins in the first place. Then to sell them for many times less that what they previously sold for....something does not seem right.
Don't know. He originally asked $300, but then lowered it to $100. He had no clue at all what they were. Honestly, I had only been collecting for a few months and had never heard of Eliasberg and didn't know 1857 was a better date. I just knew it was a good deal. Sent from my ADR6425LVW using Tapatalk
As bad as china has gotten, it wouldn't surprise me if they are putting real coins in fakely attriuted slabs.
I verified the coin directly with NGC. I sent them a pic of it because their system said it was corroded, but the slab didn't. They had me email this pic, and they said their system was in error and corrected it to VF25. Just think, Elisabeth probably had tens of thousands of coins outside of his premier coins. He would buy whole collections (junk included) from others, so I am sure he had a lot just sitting around. Sent from my ADR6425LVW using Tapatalk
Personally I think pedigrees do lose some of the premium for some coins after they change hands a few times. I am not talking the super rarities or super high grade coins, but the common date lower grade stuff. Personally to me the name on the slab or the pedigree is good to know, but the coin is still only worth what it grades out at. I know when the Reiver collection sold the prices where too high in my opinion. Yet a few years later I managed to win one around the right price. Just my humble opinion.
How much of that do you think was due to the serious and over grading by NGC than with any premium on the Reiver pedigree.
I think it was a combination of both. People just seemed to jump on those coins. A bunch ended up straight on ebay with even larger premiums for the coins. A know a lot of the ones I was watching did not sell. It was a couple years later that I got my coin.
When a well known or even famous collection is sold it is almost a certainty that the coins will bring a premium over the current market just because of the pedigree. And it is almost a certainty that NGC or PCGS, whichever is chosen to slab them, will over-grade those coins. Both of these things happen time and time again. And it is almost a certainty that a few years later when the excitement dies down and demand lessens for the pedigreed coins that they will sell for less than they did initially. This also happens time and time again.
