Once in a while, I spot something in an auction that, while not at the core of my collection, is something that I decide is assuredly a cool coin worth chasing. So after a little research, I submit a bid at double the high estimate, only to be blown away during the live auction. I guess I can take comfort in the fact that while I didn't win the lot, at least I was correct in my assessment of it.
I've had to take that same approach on some coins I've wanted to add. I put in my highest bid and watch it get blown away. I use the same consolation ideology.
1568 Elizabeth I Threepence. I was thinking there was no way the estimate was right on this one. I was right.
I forgot to mention, this usually happens when toning is involved. I'm not talking Monster rainbow toning either.
I owned that exact same coin in a different grade once. What did it end up bringing if you don't mind me asking?
£750 hammer. £930 including the juice and VAT on the juice, £1080 if you were buying inside the EU and had to pay VAT on the hammer as well. Estimate was £150-200 hammer.
Wow, that really blew out the estimate. But some auction houses always estimate low. CNG is almost always low on their estimates from my experience.
For a coin of that quality, I would have expected about twice the estimate. The final price, while a bit stronger than I would have expected, doesn't seem that off. The coin is gorgeous, with an unusually strong strike, and fantastic eye appeal.
