Some Thoughts on CNG Triton XXV

When I see these auctions, I realize how lucky I am.

My budget for auctions is in the hundreds. I don't even bother with the coins going in the thousands. If I had more money, then I would be outbid all the time.

However, I don't have more money, so I usually stand a chance at the auctions in my price range. It's great not being rich.

 

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I kept my cool/ and refused to enter into bidding wars. I did eventually, end up winning a coin that I thought to have zero chance on. England/ AV Unite ND (Second Coinage) Tower Mint/ "Tun" mm. 10.00g. 37mm. .916. James I 1603-25. However, I noted that the "high" bid leading up to "hammer time" was $3250. I decided then and there to go to $4000 max. Well, I ended up winning it for $3500/ plus a CNG grade of "EF" is pretty good.

 

The super rare/hyper hammer price coins are way out of my range. I am on a fixed income, so I gravitate to mostly mid grade coins, or coins that appear on auctions like herds of wildebeests across the Serengeti Plain, like the Athenian classical owls.

 

T.C., Nice score on the Judaea Capta denarius ! The finely engraved reverse is the much scarcer type with the soldier in the left field. The Dr. Jay M. Galst provenance is a nice plus for the coin too . Last year I scored an interesting & rare bronze coin from the Galst collection pictured below.


Judaea - Neapolis, Macrinus, AD 217-218. AE 17.87 gm, 29 mm, 12 h. The reverse depicts the Temple of Zeus atop of Mt. Gerizim & a sacrificial altar to the right atop of Mt. Elba. There is a cannonade at the bottom & a walkway that leads to the top of the temple. Hadrian had this temple built after the Samaritan temple was destroyed.
Ex Dr. Jay M. Galst Collection, acquired from Menashe Landman in 2002.

 

John, Nice score on the gold unite of James I ! The coin looks to be in choice AU condition with fine engraving on both sides. The die-shift on the obverse isn't too distracting because the portrait is so finely engraved. I'm surprised the coin didn't sell for more. The large hammered gold coins are rare .

 

I did not bid and restricted myself to observe what is going on.

Many wonderful coins, but the prices realised on these two really caught my attention:

Lot 824: $5000
Lot 825: $4700

Both undeniably beautiful examples of the Judaea Capta Rome mint denarius. Still, the prices realised took me aback.

What do you guys think?

 

I'm glad I got my Judaea Capta denarii years ago!

 

Yes, I fully agree.

When I saw those results I am really glad I bought this one about 18 years ago......

 

Eduard, You are right-on, the price for those two denarii is crazy ! The example pictured below I sold at CNG 483 early this year for $885.00, & my coin was superior to both of those coins .


Vespasian, AD 69-79 (struck December AD 69-early 70) Rome Mint. AR Denarius: 3.32 gm, 17 mm 6 h. Hendin 1479. NGC 4531309-001, Ch AU, Strike 5/5, Surface 3/5. Ex Al Kowsky Collection.

 

These prices and the price increases are incredible. I believe that these coins appeal not just to collectors, but to people who have a need for assets with a very high concentration of wealth. For example, this tiny coin above is ideal for smuggling wealth across borders and for hiding wealth from tax authorities etc.

 

Thanks Al......probably most bidders where flat broke by the time it came up I really like the video feature, it shows the coins in detail from every angle.

 

Most are going East to China/ India/ Gulf States/ Japan. Collectors there appreciate the rarity and beauty of classical coinage When we discuss Triton XXVI next year, it will be the same theme/ even higher prices.

 

I see comparable examples of the Judea Capta sold at Heritage for $1-3,000 pre-COVID. I would say these are not dramatically out-of-line in the COVID era, where doubling the pre-COVID prices is a place to start.

As a question, for those who are aghast at current prices, why aren't you selling?

 

I’m rather attached to my collection and it’s not for sale.

 

@savitale my exact thought as well! Why are you guys/gals not selling, if you strongly believe this is a bubble????

 

There was a time when coin prices where more stable/ pre 1914 era. Why? Easy....every Country based their monetary system on the "Gold Standard". Thus inflation was non existant. Today, governments can print as much currency as they wish, going deeper and deeper into debt. The US for ex. if you add Federal/ State/ Municipal/ personal debt=Quadrillion US$. Thus coin prices are rising more sharply due to more inflationary pressures. Second reason is there are many more collectors that can afford the hobby today/ in 1914 only the "elite" of society dabbled in coins. Now with many Third World Nations having actual middle classes=more people with disposable $$$ to get into collectibles.
John

 

Maybe cause I am collector who still wants to collect and my primary objective isnt to sell for profit.

BTW, did you see the latest FPL of CNG? Some prices are even more insane than in the auction. Perseus drachm by Hermias for 1750 or New Style Athens tets for 5k? I dont care if you call this bubble but I feel heavily priced out of the market.

 

I did look through that. There were a couple coins of interest to me. A brief search found auction records for the same coin from last year where they sold for half the price. And those prices were no bargain compared to prices from comparable coins sold two years ago. I am also priced out, in many cases.

 

Sorry, what does FPL mean?

 

I suspect this is the exact same thought process among most of the folks who are buying coins at auction today.