CNG revealing all proxy bids

I think this happens frequently. To take advantage of it you need to have a broad spectrum of coins that you are educated about and are willing to buy at the right price, and also be willing to sit and watch for 4-6 hours while 99% of the lots go by at very high hammer prices. I generally see these opportunities after the fact but sometimes see them as they emerge. Here are three that I captured that I thought went for significantly low prices.

 

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Those are true beauties! I suppose it comes down to what a low price is seen as. At this point with how insane the market is whatever estimate I see on CNG I assume a “significantly low” price is only 2x the estimate

 

Excellent point actually. This is where "smaller fish" can shine. Heck, grab a copy of Guido Bruck's Late Roman work, and anyone on this board could create a world class collection of a series. Priced out of "big" coins? Then research and concentrate on an area not being pursued by the "big boys". Numismatics is about research, holding history, and maybe adding something to the knowledge base. By being specialized in an area somewhat overlooked, and becoming an expert, there are still PLENTY of undiscovered knowledge.

Like I said before, I would love to own all kinds of fancy coins, and do love owning my Cleo VIIs, I also love my Sassanids, Constantine VII's, Himyarites, Huns, Kushan, and many other sub-collection areas I pursue. XF/FDC large silver and gold are not the only ancient coins that exist. Just like I don't own a house on Lake Minnetonka, I don't own FDC greek gold. I am happy with what I can afford, and am grateful for being able to collect ANY ancient coins quite frankly.

 

Nailed it.
Personally, I don't focus on what everyone else is chasing. I focus on interesting History, and try to capture coins / ancients that represent those events. Many of my exciting areas are where the "Billionaires" haven't chased yet, because they are less common. I do not feel "threatened" that all the coins are being snapped up by the Billionaires... just don't care. There are SO MANY MILLIONS of the Ancient Coins out there, SO MANY COOL varieties, and SO MANY NICHES out there that I DO NOT WORRY about who is buying.

I chuckle about all the complaints and worries about the "big players". My collection has NEVER suffered from that. I have ALWAYS found what I was looking for, even stumbled onto items that I thought that I would NEVER find, and feel that I am very happy about, and have no concerns about the FUTURE of Ancients Collecting.

Some random coins to ensure this is a ANCIENT COIN Thread:

ETRURIA

Etruria, Populonia (Rasenna, Fufluna)
AR 1 As
0.60g 10.0mm
after 211 BCE
Male Head L -
Plain Rev
Vecchi 3 68-70 HN Italy 181
EXTREMELY RARE


CARTHAGE


Carthage Zeugitania
AR ½ Shekel
17mm 3.8g
2nd Punic War 218-202 BCE
Sicily mint 216-211 BCE
Tanit l
Horse r sun as double uraeus
SNG COP 359


ROMAN REPUBLIC

Roman Republic
265-242 BCE
AR Heavy Denarius - Didrachm
6.55g, 18mm, 6h.
Head of Roma right, wearing Phrygian helmet, cornucopiae behind /
ROMANO, Victory standing right, attaching wreath to long palm, YY in right field. Crawford 22/1; RSC 7. Very Fine.
From the Eucharius Collection.
Rare

 

On this we agree. The problem is that sharing our preferences can lead to other people joining the hunt. I started looking for Eastern denarii of Septimius about the same time that some of the people now specializing in them were wearing the first paper diapers. I might have been better off had I never taught a single dealer how to recognize them. I once was told by a dealer that the branch mint coins were all poor style and garbage. I should have told everyone that he was right. I would like to know how many billionaires have the kinds of coins I prefer most but I don't want them to decide that they should.

 

Just lost out on this one - Abdication follis of Diocletian. Starting bid of $100. Ended up going for $800.

 

I had a similar experience. The lots I liked went absolutely nuts. There were some really choice coins and this was one of my favorites. I thought maybe 3 times estimate might take it home... try 6 times estimate and I'm sure the winners max was much higher. I'd bet this is one of the best of its type though. Estimate was $150 and it went for $900. I'll be sulking for a bit on it haha I guess I just need to make more money so I can hang in better with the big boys.

 

Yeah my enthusiasm waned at $550.

 

The thing is, I do not recall ever participating in an ancient auction where I wasn't blown out of the water on a lot unexpectedly. Every single time I think I am in good shape and some of the lots go for many multiples over what I thought it should go for. I simply chalk it up to others knowing more than I do.

However, just saying its nothing new. I still remember one lot I though I was good on at $600, and it went for $2200. A few months later I got one I thought was better from another source for $400. Maybe I was wrong, and something unusual and rare about the first coin, but I didn't know or care, and was very happy with the second coin.

 

I was the underbidder, although I reluctantly hit that bid button the last time lol

 

I've poked around and found a number of the "abdication" folles for well under $500 - go figure. Both Diocletian and Maximian - though we know that Maximian got itchy in "retirement." He wasn't big on planting cabbage with his own hands, unlike Diocletian.

 

I won 2/6 of the coins I wanted today, but I suppose its better than the 1/7 ratio from last week's auction. Anyone fare better?

 

My Rome mint version cost me well under $100, and as @ancient coin hunter goes on to note, there have been plenty of recent sales in that vicinity including some at least as nice as the $800 CNG example, including from Serdica.

Mine cost me about $100:


Clearly it's a seller's market right now, but still... CNG is maybe not where most of us should be spending our money! There are plenty of other venues, and acsearch.info for pricing info.

 

Wanna double your money? lol I've not really looked around for one, not a type I'm searching for, but the CNG example was quite impressive for strike, metal and surfaces. I figured I'll find something comparable for much less at some point.

 

How that one had an estimate of only $100 is beyond me. I think the Benito Collection was likely being scooped by a few hands as the coins with that provenance seemed to be the most desired and bid way up over estimate. A testament to his taste I’d say!

I tried securing Lots 392, 399, and 472 a Vespasian, Titus, and Trajan.

The Vespasian estimate of $150 hammered at $700 and the Titus a whopping $1,300 on a $300 estimate. Trajan ended at $550 on a $150. Perhaps CNG needs to up their estimates

Still though, feel very lucky to have snagged lots 183 and 431.

 

My first thought is that prices like that are the result of impatience, not lack of supply.
Looks like @Severus Alexander made a better deal than those who bought today.
If this continues, I guess I have at least 200 coins that I should know more about.
It seems like it’s buyers market for numismatic literature, so I have aquired almost 20 used books. Better put them to use, and save the coin money for other times.

 

Sorry, this one's a keeper!

I don't think you'll have much trouble! acsearch ordered by increasing price

 

I've done the same thing for literature. I have a profound lack of knowledge about the ancients I have come to love and so I've bought several books lately and have been reading them quite a bit. I even read them to our unborn son (our first child) in hope that he will become a budding numismatist. It's quite kind of my wife to tolerate it, although I think she is actually enjoying the information in the ancient selfies book.

 

There are simple facts. Some coins are higher grade than others. Some people have more disposable cash that others. To them $800 is nothing.


I have other coins I'd rather have for $800 so the difference in grade and mint brought me to this Diocletian which was $10 in 2001. IMO the estimate of $100 was appropriate but I have minor interest in Diocletian and no interest in super-grade coins. I no longer waste my time looking at coins that go over what I consider a level matching the interest of the coin. Let someone else pay $800 for what you see, at best, as half that much coin. CNG still sells some interesting coins that are not overly ridiculous (and a lot better than mine).

 

I’ve been feeling this way of late. My initial interest in medieval coins was England, but they have just become too expensive. I’ve found myself wandering through several paths becoming a generalist, with a slight focus on the normans. But there are still deals to be had elsewhere - I recently have been falling into collecting Denars from Bohemia, and just snagged a nice and very rare type for less than $100. My ancient interests have gone the same way, with focusing on an area which seems to not have had too much attention paid to it. My luck in purchases has come from more fixed price listings like MA-Shops than auctions, however.