I don`t believe this price. Reserve not met??? I would take the $6100 and run. To another country. Thats even if these are real bidders. http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&rd=1&item=8319172000&ssPageName=STRK:MEWA:IT
I don't see a grading service on the slab. Maybe this coin isn't authentic. $100 for overnight shipping ? Beautiful coin, though.
want to see something even funnier? I decided to browse through his recent auctions... http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&category=41103&item=3977402675 I'd say if you purchase something for 12.00 and change, then 6,100 would be a fairly reasonable profit...
or it could have been from this collection that he paid a whopping 48 dollars for in total... http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&category=525&item=3976261271
Looks like a PCI holder. Not one of MY favorite TPGs. He bought a pile of stuff from aboncom (SGS), which is the most notorious of the Self Grading Slabbers.
About 8 months ago I bought a 1964 Kennedy, PCGS PR69. The population report listed 26 graded higher. My cost? $42.95 with shipping and insurance. I'll keep mine and be happy.
Bad? Eh, they tend to usually be grouped into the "second tier" of the major grading services. I have a couple of their slabs myself but have never seen enough to determine whether or not I think they consistently overgrade.
Thats why I think this guy is bidding on his own coin, hoping to reel in at least one sucker. In any case, many of us believe that MS70 or PF70 is a fantasy grade, no matter how reputable the TPG. Even if this coin is a PF70 (NOT!) ,this artificially created market for the super high grade modern coins is due for a collapse. I am sad to say, PCGS and NGC have created this monster with their Registry Sets. People with more money than brains (and numismatic education) have bought into this hype. I am happy to see the number of people that gave their opinions here. I am also happy to see that the posters on this thread have seen that this is pure nonsense. There are always a large number of lurkers here on CoinTalk. I would guess that a large number are newbies to coin collecting. It helps the hobby overall when they read our opinions on subjects such as this. Everytime a newbie gets beat, whether it is for $5.00 or $5000, it hurts us all. And not all people that get beat are newbies. JMHO Bruce
There was a time when PCI had a certain amount of respect in the industry for their ability to properly grade coins. Unfortunately that was a long time ago. Since then they have gone consistently downhill and among many collectors and dealers they are considered to be among the worst of the grading companies. The consensus is that they grossly overgrade coins.
You guys quick picking on vern !! I thought the name sounded familiar- looked at my sales record on E-Bay- and sure enough old vern is a paying customer - I wonder what the reserve will be for the 1879-0 Morgan he bought from me (MS60-not graded) . I'd say by Vernstandard it will be in the four figures.
