...and the advertisement states "Morgan Proof Dollars 1878-1895." Of course, the 1895 caught my eye, so I called the auctioneer a few days back. He confirms that a set of 8-10 proofs will be at the auction, no-reserve, including an 1895. So my wife and I drive about 30 miles and we get there an hour early for inspections (I had asked about Morgan proofs earlier in the week on this forum). And low and behold, there was a mirror polished, beautiful (and obviously a repro) 1895 Morgan (along with many other "proofs"). On the back, the words "COPY" were inscribed. When I asked the auctioneer, he said "Yeah, they're not original and a lot of people are upset." The dealer went on to tell me that he didn't know coins and they looked like proofs to him. He didn't notice the COPY stamped on the back, even though it was fairly obvious. I had also heard a rumor from the normal coin collecting group that I always see at these local auctions that some people had flown in (although who knows if that's true). I guess in the back of my mind I knew no one would dispose of Morgan Proofs (especially an 1895) at a small local auction outside the coin community -- but I thought it was worth a shot.
I hate getting all worked up for nothing. Usually when it sounds too good to be true, it usually is. Better luck next time.
The good news is that the word "Copy" was found prior to bidding... Was there anything else worth visiting in the area-- a good place for lunch or dinner, perhaps?
Sounds like some of the 'Farm Auctions' around here when they advertise antique guns and implements, 99% of the time when actually seen in hand they're JUNK... B
So true. I wonder if the old "as-is" guarentee that auctioneers always give at these type of auctions would protect them. If I was to drop several thousand for what was advertised as a real Morgan and it turned out to be a fake, I'd be talking with an attorney. But since I am not one, I just wonder how effective this would be? Very small town...Crookston, Minnesota. But the drive was nice.
The farm auctions can be pretty hysterical. I was recently at one where a 1934-S Peace Dollar realized $350!! The catch was, that although this is a key date coin, it was definitely only a VF coin. I hope the winner doesn't submit that one to a TPG.
In other words it was a fake--they are made every day at "mints" with the small word COPY on the coin someplace so that they can sell them---but the problem is that sometimes people don't know that it is a copy and pay large money for it. Speedy
You still did the right thing by checking out the auction. Sometimes you have to look in dozens of places to find the one great buy of a lifetime.
