part 5: eBay "What was he thinking...?"

Discussion in 'Coin Chat' started by -jeffB, Feb 5, 2011.

  1. -jeffB

    -jeffB Greshams LEO Supporter

    ...or, in this case, "what am I missing?"

    US Silver Coin Collection Lot over $8.30 Face Value

    Even if I look at the phrasing as "eight half dollars, including four 40% halves" -- and that's not what the picture appears to show -- I'm still looking at something north of $200 in silver value. What am I missing that prevented anybody else from bidding on this auction? I sniped it with a few seconds left -- almost missed the close, in fact -- but nobody else bid.

    The seller runs a lot of coins, and has stellar feedback. So I don't expect to get shortchanged or SNAD, and I don't expect those shiny Walkers to be original-surface or that 1928 Peace dollar to lack a mint mark. But why did I get this lot for ~60% of melt? $150 isn't that high of a starting bid. Maybe all the bidders who can do math are elsewhere tonight, and I should see what else I can snipe...?
     
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  3. Collector1966

    Collector1966 Senior Member

    Well, it was a one-day auction (I don't understand the rationale behind that) so it might have gone under bidders' radars.

    If the coins are as described, it looks like you got a great deal for $155.
     
  4. -jeffB

    -jeffB Greshams LEO Supporter

    The only other thing I can think of is that the title says "over $8.30 Face Value", which, while technically true, undersells the lot rather drastically. Maybe some bidders took a look, saw all the 40%, and decided it wasn't worthwhile without bothering to do the math.
     
  5. Collector1966

    Collector1966 Senior Member

    As well, that's a pretty lousy picture of the coins-- some of the best ones seem to be at least partially covered up. Either someone didn't know what the heck they were doing, or? At any rate, that '49 Franklin seems to be AU at least, and there seem to be a couple of AU Walkers in there as well. Plus some AU or even BU war nickels.

    If those pictures are accurate, you got a heck of a deal. I would love to hear what you actually get when your package arrives.
     
  6. -jeffB

    -jeffB Greshams LEO Supporter

    Well, he did say "some coins are also cleaned". Whenever I see a "shiny" coin in a photo of a lot like this, I assume it's been dipped at least and likely polished. At least that way I'm rarely disappointed.

    I'll definitely follow up when the package arrives.
     
  7. -jeffB

    -jeffB Greshams LEO Supporter

    Whoa

    So, the auction description said:

    What I actually received:

    26 AU/BU Mercury and Roosevelt dimes. Okay, a few had spots, and there was one F-VF 1927 Merc. But there are also some frosty and very sharp Mercs. Haven't done the FSB inspection yet -- I wouldn't expect any such thing in a lot like this, but given what I've seen here, I'd better check.

    8 half dollars -- one 1949 Franklin with most of its luster intact, and seven Walkers that range from one VG/F to several possibly-cleaned sliders. A few are nicer than the "uncirculated" ones I bought a month or two ago.

    4 40% halves -- one well-fingerprinted 1976-S, one each circulated 67/68D/69D.

    1 1928-S Peace dollar, circulated, cleaned, then circulated some more.

    3 40% Ikes -- one cameo 72-S with lots of prints and a nasty hit or two on the back; two 71-S well on their way to PF45.

    4 AU/BU war-nicks -- exactly that, although I'd lean toward BU. Since the nicest one I had to date would struggle to reach F12, a very nice upgrade.

    1963 and 1964 proof sets -- unimpaired at first glance.

    I count this at over $14.50 FV of silver, over $9.50 of 90%, melt value right around $250. But I'm definitely hanging on to those beautiful Walkers, and I'm going to inspect the dimes very carefully -- there were quite a few S-mint Rosies, and most of the dimes looked like MS candidates. I might post a couple of them as a "grade from pictures" exercise, although I can't imagine any would be worth slabbing. A couple of the proofs are far enough gone that I'd be willing to use them as experimental subjects for acetone or other "conservation" tactics.

    Overall, I'm very, very, VERY pleased. :D
     
  8. Merc Crazy

    Merc Crazy Bumbling numismatic fool

    Wow, that is indeed a killer score. Congrats.
     
  9. Collector1966

    Collector1966 Senior Member

    That's a very nice group of coins you got. Very nice. I wonder what the seller's rationale for having a one-day-only auction was? At any rate, their loss, your gain.
     
  10. Merc Crazy

    Merc Crazy Bumbling numismatic fool

    Hard up for cash?
     
  11. -jeffB

    -jeffB Greshams LEO Supporter

    Seems unlikely. They sell quite a lot of coins. In fact, browsing through their completed auctions just now, I saw that they'd listed this same lot two days earlier at a starting bid of $170, and gotten no bids at all! (I would've jumped all over it had I seen it at that price.)

    So now it's twice as much of a mystery. But I guess I should keep an eye on any new auctions they post -- don't know how the bidding will go, but I now know that they can be very conservative in their descriptions (underpromise/overdeliver).
     
  12. Collector1966

    Collector1966 Senior Member

    They might sell a lot of coins, but it sure doesn't seem like they know how to present them in pictures! That was a pretty bad photo they had of the lot. Maybe I'll take a chance with one of their auctions.
     
  13. sgiorgis

    sgiorgis Student of Numismatics

    Hope you left a + Positive feedback! ;)
    Steve
     
  14. -jeffB

    -jeffB Greshams LEO Supporter

    I'd actually fallen behind on my feedback, but I think I'm caught up now. Expecting another batch today, and I'm waiting for a refund on one batch that I returned -- I should probably post a separate "What was he thinking...?" for that one. Not all lots are winners.

    Edit: to clarify, the other batches were from other sellers, not this one. I haven't bought anything else from this seller, but I very well might, as long as Collector1966 doesn't bid things up too much. :)
     
  15. Phil Ham

    Phil Ham Hamster

    You did good!
     
  16. Player11

    Player11 Bullish

    Many of them don't do their homework (bidders) and starting a one day auction cheap is a recipe for giving away some stuff, especially in this economy. Maybe the guy tried to sell it at a coin shop and they rejected many of the coins (I always put "zero" on my tally form for problem coins when calculatiing an offer for an estate or collection - that way I can just let them rip later on for whatever.)
     
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