17th coin graded by PCGS sells on GC for 6 figures!

an 1881 S Morgan in MS63 (with a bean!) no less. Thought to be the earliest graded PCGS coin still in the original holder. Anybody else think this is slightly over the top, at $119,062.12 all in??
link to Reddit thread with photo: https://www.reddit.com/r/coins/comments/1mn48eb/the_17th_coin_ever_graded_by_pcgs_auctioned/

 

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Looks like the Reddit thread has hit all the major points I'd make. I'm just as happy that my collecting interests don't draw me into bidding wars with the very very rich.

My 1881-S, handed to me by my grandfather, is a 62 at best. Not interested in trading.

 

Those collectors are mentally ill. I don't like "rattle holders" at all. Twenty-five years ago I used to pay have them re-holdered.

These guys just paid about 1,000 times what the coin is worth. It's an example of more money than brains on steriods.

 

Of course, there are lots of people in the country to whom the coin is worth $1, and they probably think we're mentally ill.

 

Sounds to me as if the bidding was on the slab instead of the coin.

 

I am talking about paying over $100,000 for an 1881-S which is one of the most common dates in Mint State in the whole Morgan Dollar series. Even if the coin is an MS-65 in an MS-63 holder, it's not worth that.

 

I think it's the ultimate refutation of "buy the coin, not the holder," LOL.