Thought I'd share this absolute stunner I won earlier this week at the Heritage Signature sale. This is a type that is notoriously difficult to acquire in higher grade and that is missing from many of the major collections. And while researching the type more extensively prior to the sale I have not stumbled upon many that even come near this one in preservation. I was also very pleasantly surprised it went much lower than inferior specimens have in the past (not sure where Clio was hiding for this one). It will of course be freed from the dreadful plastic coffin upon arrival C. Vibius Varus. 42 BC. AR Denarius (19mm, 3.67 g, 11h). Rome mint. Obverse: Laureate and bearded head of Hercules right. Reverse: Minerva, helmeted and draped, standing right, holding spear in right hand and Victory in extended left; shield at side, C • VIBIVS downward to right, VARVS downward to left. Reference: Crawford 494/37
It is a stunner, so please don't feel like I'm trying to take away anything from it, but I think this is another example of NGC grade inflation for ancients. There is some high point wear significant enough that details are lost in the ear area, beard area, and shoulder. Two of the beard hairs combine into one at one end due to the wear. I honestly don't see AU*. I think XF* is more like it. I know on Vcoins and on FORVM that coin in raw form most likely would have been listed as an XF, or XF+. I think that explains why it went lower than you expected....some discerning collectors saw what I see. That's very fortunate for you who got such a great deal on this beautiful coin, because Heritage usually attracts investor types who buy the grade without knowing anything about the coin...and they could have bid it up sky high easily. Again, please don't misunderstand me. My criticism is not of the coin itself. It is still a fantastic coin with stunning style and fantastic eye appeal. A real beauty. I certainly would love to have something like that in my collection. I just think NGC tends to be a little liberal with their grading.
Thank you No worries at all, I totally agree that NGC many times are far to generous with grade. I far more prefer the conservative grading of CNG and likes. AU and MS grades are given far to often by many houses for coins that at times aren't even close to those grades.
(1) Why are you taking it out of the NGC holder ? Are you crossing it ? (2) Where there other bidders for this obscure coin @ HA ? (3) Did you bid via the internet before the physical auction....and/or did you enter a new/higher bid once the auction began ? I'm trying to learn the ropes myself about the HA auctions.
To answer you first question I will quote a reply Aaron Berk at Harlan J. Berk gave someone asking a similar question: "Because 90% of the ancient market does not accept ancient coins in slabs. Slabs are for people who either know nothing about ancients or for sellers looking to capitalize on high attributes NGC place on the holder. Also NGC does not guarantee authenticity on ancient coins but we do so I need to make sure they are real before offering them and can't tell 100% until it is out of the holder. If the entire market accepted ancient coins in holders and there were standards for pricing in holders I would do it. This is not the case so all your paying for is one or two people's opinion. To me this is not what ancient coins is about. Remember slabbing is an American creation and is not accepted everywhere. So by offering ancient coins in holders I am only hoping to do one thing. Make more money off the plastic. I cannot do that and feel good sleeping at night." For your second question, yes I had some competition, less than I expected for thios one though, but that is not uncommon as soon as the coins go up into the 4 figure area and above. And for the third, this one time I slammed in a pretty high max bid in advance, mainly cause I wasn't able to bid live due to work. But usually I almost always bid live.
Nice to hear that coin collecting and study, rather than investing is still alive. Too bad it's only in the Ancients, and maybe medals arenas.
Mine is not quite as nice Denarius of Vibius Varus 42 B.C. Obv.Head of bearded Hercules right. Rv. Minerva stg right. Cr 494/37 3.90 grms 18 mm
