I stand corrected. It is 15. Makes even less sense to want to own it, given that a 68 is worth a fraction of the 68+.
Gosh there's 62 1879-S on GC right now, including many nice 67 and 67+ for less than a tenth the price. But that's not the point, is it.
Only a registry collector or finest Morgan set would pay that kind of price. I like my 79s PL that is a humble 66 better, and it is a fraction of the price.
https://www.greatcollections.com/Coin/1175844/1879-S-Morgan-Silver-Dollar-PCGS-MS-68-CAC Price hasn't changed.
I think @ddddd was right. The potential buyers looked up the history, and it was a recent upgrade from 68, to 68+. That made it jump from a $5,000 coin to a $30,000 coin overnight.
I don't do high dollar purchases anymore. Do the bidders have to "prove" that they can come up with the bid amount? Maybe there are a couple of friends doing something to yank the sellers' chain a bit.
I hedged my bet on the low side and still ended up about $3k too high. Regardless, the seller likely did well if they were the one that got the upgrade.
We have seen high prices lately that just don't fit the bill of a plus or one quick sale to an un witted buyer with deep pockets. A pretty coin no doubt.
What is a “waste of money?” Some high end collectors love these kind of coins. If they want to spend their money, so be it. It you were collecting a “finest Morgan set,” then it is not a waste of money. For the average collector, it is beyond their means. I don’t begrudge registry collectors, even if I would not spend 20k plus for an 1879s Morgan.
@Morgandude11 I agree with your sentiment that for the "average collector" this coin would not be something that they would chase at those bids, however, for boasting rights on the Registries, or for the investor that would hold this coin for say a year or two and then put it up for auction on one of the top tier venues, it would probably be worth it. As for the coin itself, compared to the other PCGS MS-68+ that also sold at GC in 12/19 at $13,308 hammer, the resulting bump to the Plus (+) superlative was due to the cameo contrast of the Prooflike Obverse, and the Semi-Prooflike Reverse; IMO the other coin had less Friction Rub on the Portrait but had only a frosty finish. IMO the main driver for the 193% price increase between the two--aside from market increases in the interim two years, and the Plus appearance --was the CAC sticker.