1891 AU53 double eagle mintage 1390 population 6 currently $2400 I'd expect closer to $40K? stacksbowers.com/lots/view/3-VK1EB/1891-liberty-head-double-eagle-au-53-pcgs Lot # 5468
Not as skilled on the Liberty's as the Saints, but a quick glance at my dated Bowers DE book says price years ago was $7,500 (is much higher today) but total population for the 1891-CC is about 300 and in AU-53 about 25.
The price guide is close to $40K but recent auctions seem closer to $20K ? Have to check actual auctions instead of listed auctions for something like this I would think.
This auction will set astronomical records, and the guesses are, how can I say this....a little conservative. OPEN YOUR WALLETS, YOUR WIVES' WALLETS, YOUR COUSINS WALLETS AND CHILDRENS WALLETS AND NEIGHBORS WALLETS AND.... You are going to need it, considering the Shock Troops you will be bidding against. I am looking at you, Ms. Sperber, and a few others. You know who you are.
Mintage 1390 in 1891 vs 1891 cc 5000 hence fewer out there I use the blue book for auctions pieces shows $30k vs $15 for the CC an oddity
Hammer came down at $50,400! Every Dbl. Eagle went $500 to $3000 above blue book. No deals there yesterday
It's pretty unlikely that there will be deals in an auction like that. Even moreso when gold has such a strong following, as it presently has.
Expecting there may be a deal from an auction that is offering the freshest pieces in a very long time, original, and most have not been cracked out/re-submitted/only submitted once. It is not only because gold. There were many one-offs. I do not know of any bidder that seriously would consider bidding at Bluesheet in the present market, and definitely not for Fairmont. This auction has set the market, as expected. Don't think silver is languishing, it is not. Don't think any original piece in any composition is languishing. You would be wrong. If the pieces have the added multiplier of CAC, such pieces have set the market we have. That is a good thing. There are plenty of offerings in many different collecting preferences that are benefitting from the current hobby status. Consider: This auction, a person thinks it did not have any "deals"? When the pieces hit the retail side, we will re-evaluate that thinking.
They must have been rare or scarce coins. I saw a MS-65+ 1923-D Saint-Gaudens go for just under $4,000 (including bp) over at HA. Nice rise, but not panic buying well-above list price.
You're very right about everything except perhaps that the re-thinking will likely take longer than just when these parts are advertised for sale. The high prices will have buyers thinking about what's going on in the market, but only the savvy ones will quickly grapple with the dynamics you described (they were among the drivers of prices realized in this auction in the first place). There will be a substantial lag before others finally recalibrate.
I concur, because many of the pieces will be off the market for years, and there will be many re-submitted and CAC'd, and held in private collections. The price point for the also-rans, but not offered for a few years, is now out of the bag, though, and I expect (as I am sure you do) that the floor prices will be established going forward and there will be a general uptick in other shows this year. None of the also-rans will equal Fairmont, but the upward pricing will continue. This is not the best thing that could happen to the hobby, but it may bring out pieces in collections that have not been available before, because collectors will be able to take profits off the table and move on, in a way that hasn't really been experienced by the collector before. Sort of an equalizing of buy-sell favoring the collector, which does not happen that often. That is a good thing, and will keep the hobby strong.
well round two on now we'll see but I never overpay and rarely get a good one but when you do you get a good flipper! Was able over the last two years to pick up a 1928 Hawaiian MS 65 ($2250), 1905 Lewis and Clark MS 63 1/2 fractional ($325) and 1917 McKinley gold dollar MS 66 for $1125 by being diligent. but may never get the needed 1915 s pan-pac dollar but I'll still search?
Round 2 will exceed Round 1. The rumble is: WE NEED STOCK, NOW! The floor spread is looking like 12-14% over the buy-in, so, there will be nothing in your wallet, when it is over! Overpaying will be gladly acknowledged by the bidders. And, it should be, for this offering.
