Look at the 1929 Quarter Eagle graded MS63.....???? Can anyone explain why someone would pay $25,000 for the coin? Do you think this coin is viewed to be of a higher grade? Maybe that could explain the price tag.
That's a good question. Unless the buyer honestly believes that the coin is seriously undergraded, or the price realized is a typo, I have no clue. By all rights, that's a $1500 coin, tops.
I don't get it either. Probably a mixup; an MS65 sold for big money but they got confused when putting stuff up on the site and got the wrong coin. There's no reason to think the MS63 coin will upgrade. Certainly not enough evidence to plop down 15x the "currently certified" value !
I contacted the firm to see what they thought the chances of something similar repeating in the future, and if there was a "special reason" this coin sold for so much money". You never know they could be attracting a lot of rich people with nothing else to do but bid on coins. If so I might have to start supplying some 29 MS63 QE to them as project in reverse philanthropy. I'll let you know how that turns out. If someone wants to donate free money.... I can find a wat to put it to use. By the way a 25k price tag demands a grade of MS 66 for that coin, so I will have to agree that there is no particular reason to believe that coin is going to upgrade that much; however there was a guy on this forum talking about cracking a 65, receiving back a 64, cracking it again, and receiving back a 66. Nice work PCGS!!!
I try not to form decisions on small amounts of anecdotal evidence... ... but from what I've seen, PCGS is less consistent than NGC. I can certainly believe they would bounce like you mentioned. But I don't believe that MS63 $2.5 has much chance. Looks weak for a 63.
IMO, those and the incuse $5 have got to be the toughest coins to grade. I have a tough time seeing a difference between high AU ones and MS ones. People probably pay for the holder on these more than any other type of coin.
