There has been a lot of chatter on the Forum in recent months about increases in coin prices. Here is one more data point from a Great Collections auction last night. I was watching this one but it got way past my limit for this particular coin. Of course, one point does not make a trend but I think this is emblematic of what we are seeing overall. Anyway, this is a very nice 1930 SLQ, PCGS MS-66 FH, CAC. I have included several photos of the coin including some poorly-focused closeups (sellers photos). It is, IMHO, a very nice coin with a blast white but original (probably) surface. It hammered at $2850 ($3206 with the BP). Now, as nice as this coin is, the full head is more of a Minimum Full Head than either a Sharp or Ultimate. The shield is nice for having shield lines but it is still missing rivets. The eagle's breast has weak feathers. And, it appears that there is some kind of a ding in Liberty's cheek and neck. (How did it get a 66 CAC with that?) So, for a year and mint that is notable for having strong and even exceptional strikes and where 50% of the coins are known full heads and where blast white and lustrous examples are common (per J.H. Cline, Standing Liberty Quarters, 4th Ed., 2007), this is not a particularly exceptional example. The CDN Rare Coin Market Review, a quarterly publication that lists retail prices for CAC coins, says the MS-66 FH CAC has a value of $1690. (I know; price guides are lagging indicators and no good anyway but that is only true to an extent). So, the subject quarter sold for almost double the listed value in the price quide. Now, it's not too unusual for a exceptional example to command a premium price over the price guides, but is this coin an exceptional example? As I stated above, I don't think so. There were 49 bids on this coin with 8 bidders but only 4 of the 8 participated in the final run-up of the bids. Is the auction price of this quarter a one-off or an example of a heated market? My conclusion is a bit of the former but a lot of the latter. Comments? BTW, in the other coins that I was watching in this auction, gold half eagles 1834 to 1861, I saw some pretty heated hammers for mediocre coins.
There are exceptions and there are exceptions...and this is such. It took my breath away when I laid eyes on it in the photos, even with its initially inconspicuous faults, and I suspect it did similar even for the graders when first in their hands...human beings/not robots...to an extent that couldn't be overcome in the final analysis. Besides...and this is why I'm not too upset..."what goes around comes around" as is said, and maybe this somehow to a small extent makes up for the many decent and legitimately deserving (of a straight and/or higher grade) coins relegated to the virtually worthless "details" slabs for such as invisible wheel marks and other all-too-nit-picky reasons/"flaws." I dunno...just a wild theory...coins slide for all sorts of reasons. Plus, in any auction people can/do get carried away with winning at any cost...forgetting the coin...and so someone paid it. It happened to me too many times on a much smaller scale, and then later, on closer exam including buyer's remorse, I wonder why I paid what I paid.
The 'detractors', other than the dings, being weak details could be just a weak strike, thus not precluding an MS 66. JMO.
Considering those who collect these strive for the elusive full heads, it's natural for your eye to focus there first. So how did it get a 66, and CAC with that hit? Unless both companies are stating it's a flaw in the planchet which is extremely unlikely. Not an MS66, in my opinion, and not worth the premium for the grade. As for the other "flaws" I'd agree with Lueds on a possible weak strike or from a worn die.
I was going to start a separate thread on this subject, with a topic like "have people gone nuts?" but I'll post to this one. I was watching an 1892 50c, PCGS AU58+ CAC on GC. I put the Numismedia price of $204 in my "watch" comment. When it exceeded that a week ago, I figured I'd pass on it. Checked this morning, and it sold for $605 with juice, 34 bids. I mean, that's MS65 money! Granted, it was a Type 1 reverse, but that's not particularly scarcer than the Type 2, PCGS doesn't recognize it in their census, and I'm not sure the buyer even knew. A CAC sticker doesn't get you 5 grades worth. There's no spectacular toning, and honestly it looks rather worn for a 58 to my eye. Something tells me I won't be buying another coin for a while. It's here if you want to look at it. https://www.greatcollections.com/Coin/1057896/1892-Barber-Quarter-PCGS-AU-58-CAC
