I enjoy reviewing auction results from Great Collection auctions (GC) because of their frequency, every Sunday. After the gold price broke the $1,900 barrier more modern U.S. gold coins have appeared at auction. One result that almost knocked me out of my chair is pictured below. This coin realized $4,735.12, including the buyers premium ! MS70PL Ultra High Relief $20s have been selling in the $2,400 - 3,000 range for the last few months, so what possessed bidders to kick up this coin, with an unsightly scratch on the coin holder, to $4,735.12 ? After the 6th bidder dropped out at $3,310.00, bidders 7 & 8 propelled the coin to it's finale price. These coins are available on E bay for less than $3,000.00. So why would anyone in their right mind pay this ridiculous price ? Is this just another case of bidder frenzy going too far, or some other reason not clear to me ?
I bought one in an MS-70 holder a few years ago for around $2,300. The dealer who had it was so disgusted with it that he couldn't wait to get rid of it. At that time the prices were dropping so I was sort of "buying a deck chair on the Titanic." The only reason I bought it was because the one the mint sent me directly was messed up with die polishing marks that made the coin look ugly. I blew that one off to a dealer for whatever I could get for it. Here is that coin.
With stronger gold you generally get stronger money and people that are working generally have more money at the moment than you normally would. Not taking vacations, spending a lot less on gas especially if you work from home, not going out etc and all of a sudden you have a lot of extra cash. That said there currently are no PCGS MS 70 PL on eBay from a quick search so if someone wanted one especially if they wanted the gold label that's been their only shot at it for a while. The other thing too though is there are just a lot of people that flat out refuse to use eBay. Just look at any thread on here and how many people will claim they'll never use it or think that it's all just scammers etc. It really only hurts them, but there's a lot of people like that. If someone refuses to use eBay then this was your shot for one PS since GC has a 7 day return police it's better to wait two weeks before posting questions about someone "overpaying"
This coin has been on my want list for a while. I know there is a rather large price delta between MS70 and MS70PL examples - with the PL usually going around twice as much as a non-PL example.
I bought the MMIX UHD coin several years ago, maybe 7. It had already been graded. I got the shipping box, the book, and the beautiful display box. I bought from a dealer that I had bought some Raw gold coin also. It had been certified by PCGS as MS68, which is really down the totem as far as grading. Still, it was and is a beautiful coin. I think I paid about $1,300, maybe $1,500. It may not be an MS70PL, but I like it.
I have 2 MS70PL UHR $20s, one with a gold label & the other with a plain label. The gold lable coin is pictured below. I've also got a MS70 First Strike that looks almost as good as the PL pictured below. Click images for a larger view .
I thought this might be of interest. I recently posted this coin (hope I can get the photos attached) in eBay. A couple of days later i received notice from them that it had been removed because of some doubt about the holder being authentic. They also provided a link to a gentleman at NGC, Paul Sandler . After sending photos to him, he verified that indeed the holder AND coin were both counterfeit. He also provided a link to a gentleman who is with a law enforcement agency who deals with fakes. Paul also provided a link to an article he wrote about these fakes. https://www.ngccoin.com/news/article/5291/counterfeit-2014-W-Proof-Goldeagle/. I have no idea from whom I purchased the "coin", or when so I guess I am stuck with it. I may donate it to a friend who runs several shows in the San Francisco area to use as a teaching aid on how to recognize fakes.
Ya know for that kind of money, much rarer 1909D or 1913S St Gaudins in MS 63 or 64 can be bought. Course, its possible buyer already has these older coins. But I know where I would put my five grand if I was spending it on DEs. Cal
I hate posts like this where people discredit someone because they’d rather have something else then they would. I could list a laundry list of things I’d rather have than what you listed, why demean someone for getting what they want and like
The Ultra high are awesome coins. I don't know if I would pay all that extra for PL but the one posted are great
I sold two MS70 PL UHR Gold $20 with gold labels to APMEX a few years ago for $4500 each. I loved the coins, but the price was too good.
