$1,560 For Slabbed Constantine GLORIA EXERCITVS

Discussion in 'Ancient Coins' started by Mat, Feb 24, 2022.

  1. Al Kowsky

    Al Kowsky Well-Known Member

    Mat, The low-end estimate of the slab seems accurate especially when you weigh in the cost of slabbing ;). As Kentucky suggests, "a bidding war" from at least 2 ignorant collectors. Some people are hypnotized into irrational actions when they see designations on slabs like MS*, Strike 5/5, Surface 5/5.
     
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  3. ambr0zie

    ambr0zie Dacian Taraboste

    I do not have 4 digit price coins.
    And not even a handful of 3 digit price coins.
    And in this price range I have been able to develop a nice collection that I am happy with.

    My theory in regards to this situation - a bidding war between 2 collectors who did not want to lose because of pride. Saw a lot of coins in auctions with this outcome, even in the recent ones. And if both are rich and (to put it mildly) uninformed, $1,560 means for them what winning a $20 normal valued coin with $35 means for me. I did this, not often, but there were auctions where I decided I need to buy a coin, especially when the auction was not successful until then.
    But I avoided bidding wars that were absurd in my opinion.
    For coins with a normal price higher than 50 EUR, if I want one, badly, I don't pay more than 70 EUR. And only if the coin is a major target for me.

    Here is an example that was, in my opinion, an absurd bidding war.
    I have no idea if the winner actually paid it, as the winning bid was a proxy/pre
    But on the live auction somebody wanted to bid 480 EUR.

    upload_2022-2-25_11-55-39.png

    There is also the case when people who have no idea about ancient coins are convinced that all of them have prices of hundreds of thousands but usually they don't buy, they just share their vast knowledge.
     
  4. Roman Collector

    Roman Collector Well-Known Member

    I have a couple of high-grade sister coins from the Siscia mint if anyone wants them. I'll give you a discount, too: $1300 each or $2400 for the two of them!! :joyful::joyful::joyful:

    Constantinopolis Commemorative Siscia.jpg
    VRBS ROMA Wolf and Twins Siscia.jpg
     
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  5. Al Kowsky

    Al Kowsky Well-Known Member

    Better get them slabbed first :p.
     
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  6. ambr0zie

    ambr0zie Dacian Taraboste

    Sorry RC, but your coins are not phenomenally alluring.
    I don't think the Siscia fan from the auction will offer you more than $1000 for each.
     
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  7. TypeCoin971793

    TypeCoin971793 Just a random guy on the internet

    But but but … It’s pop 1/0!!!!!!
     
  8. wittwolf

    wittwolf Well-Known Member

    Neat coin, closest thing I can offer is this 3€ example
    Emperor Constantin I. - Nummus - GLORIA EXERCITVS - Nicomedia mint
    Constantine Gloria.png
     
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  9. Heliodromus

    Heliodromus Well-Known Member

    Here's one that cost me $25 in 2005.

    upload_2022-2-25_9-26-23.png

    Kinda prescient of Stacks to predict that someone would be phenomenally allured to that coin (to the tune of $1560).

    ¯\_(ツ)_/¯
     
  10. Julius Germanicus

    Julius Germanicus Well-Known Member

    Wow. This is more than I paid for ANY of my Sestertii including Gordian I and II, Macrinus (also graded 5/5 and 5/5), the most obscure imperial ladies, and several pieces with century-old pedigrees.
    Would I give away even my most humble Sestertius for it? No, because I think that each and every one of them (even the ones I bought for 20 Euros on Ebay) is more individual and has a more interesting story to tell. Just my personal opinion…
     
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  11. Curtis

    Curtis Well-Known Member

    I've always felt a nice Constantinian AE3 is indeed a lovely coin. They're not as nice (still, nice enough), but I got these 12 coins at VAuctions (albeit in 2012) for literally 1 / 1,000th the price -- $15 per coin (including auction fee). I sold some, apparently far too cheaply, but cherish the ones I still have (despite the total absence of the characters MS* 5/5 5/5 on the labels):
    VAuctions Group Lot 286-211 Crispus AE3 VOT Altar Globe X5.jpg VAuctions Group Lot 286-208 Lot of 7X Campagate VOT wreath AE3 of Constantine II..jpg
     
  12. panzerman

    panzerman Well-Known Member

    If that same coin ends up in a Künker Auction, it would be described as Vorz. (EF) in US holder MS *5/5 5/5
    I have seen NGC MS-66 downgraded by Künker to fast st. (AU) even a MS-64 Brabant Cavalier d'or as fast vorz (almost EF) and all three selling at lower hammer prices.
    In Europe/ UK grading is accurate.
     
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  13. DonnaML

    DonnaML Well-Known Member

    Not for a lot of French dealers, who don't seem to be aware that it's possible to classify an ancient coin as something less than AU, or EF at the very least. Including coins that by traditional technical standards would be graded as barely F.
     
  14. John Anthony

    John Anthony Ultracrepidarian

    Of course, it's possible there's an error in the listing and the coin actually sold for only $60, and y'all are spinning your wheels about nothing, lol.
     
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  15. Curtis

    Curtis Well-Known Member

    That would be my first thought, too, but there were people watching it live. I had an appointment that meant I had to leave while the live bidding was still active (I was really upset to quit watching and pushed until I was late!), but the live bidding began with the $500 pre-bid. (I was anticipating it for days, watching it creep up from $320, to $400, to $500 over the last few days.)
     
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