World record price!

https://www.facebook.com/photo.php?...912654892.55495.195047633860720&type=1&ref=nf

STACK'S BOWER'S JUST SOLD THE FINEST 1794 DOLLAR FOR $8.5 MILLION DOLLARS!
A WORLD RECORD FOR ANY SINGLE COIN!

 

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No way!! Really??!?!
That's so cool! thanks so much for sharing!!

 

Rats. I was saving up for that one. I could have bought it by the year 9013.

 

Stack's commented and said the price is really $10 million with the buyers premium.

 

Wow that is a lot of money! I wonder how long that record is going to stand?

 

the mint should restrike the coin

 

Well, there's already plenty of replicas... oops, I mean "restrikes" out there, some of excellent quality. I prefer these to the real thing, mainly because I can afford 'em.

 

Think about it!

Thats a $1,491,875 dollar buyers premium!

You'd think they'd cut the buyer, Legend Numismatics, some slack!




Oh wait, I forgot, this IS "the Coin Business"!

 

It'll stand until Legend resells the coin.

If I recall correctly, they purchased one of the 1913 Liberty Nickels for 4.15 million and resold it for a profit 2 years later.
Despite what they've said, I expect this same scenario to occur with this coin since they are, after all, Coin Dealers.

 

I wonder what happens when you add that coin to your registry set. Your rating goes to eleventy-hundred gazillion, all other sets are automatically retired, and PCGS sends out a team of clown midgets to personally ridicule the other early dollar collectors?

 

I see there is some negativity here. Coin dealers are in business to turn a profit, and most of the dealers I know(myself included) collect something.
The money to be made is just an added bonus to the history and fascination of this business.

 

It means that the coin market is still strong. Great news!

 

holy crap!!!! i wish i was the one who sold that coin!

 

That coin market isn't my coin market, and likely never will be, nor have any affect on mine. But I certainly don't feel any negativity about it - it's just another object that I'll never own, like a fleet of private jets, or an island.

I can appreciate the coin for its beauty and history, but at that level, the buying and selling aspects are immaterial. It may as well have sold for a billion.

 

I don't mean any offense Lee, but everybody wants their coins to appreciate, and everybody wants to be rich (including myself). So I find it rather duplicitous of the posters at PCGS that were nipping at TDN's heels. I wish I had Legend's resources - would I sit on the coin for a few years and turn it over for a profit? Damn straight I would, and I'd make no apologies for it.

 

Maybe they gave them part of the buyers premium. It is a good way to manipulate the final price. I can't see anybody selling this coin at more than 5% commission. Even that may be too high.

 

Do the math. I did and it comes out at 17.5% BP.

 

We don't know if Stacks kept the entire BP.

 

Fairly standard nowadays, and the seller might have a commission too. Usually auction firms will waive seller commissions a lot sooner than they will buyers commissions, sometimes even sharing buyer commissions with the seller in the form of "negative seller commission".

 

Sotheby's and Moody's wouldn't charge more than 5%.