GreatCollections bidders being GreatCollections bidders.... again

Last night there were a bunch of people gathered around the proof Indians, one of which went for over $500:

Looks like I deleted the photo I had. And yes, the $24 was me bidding up from $23 a few days ago. Even an 1887 in PR60 Details (ICG) went for about $350.

Meanwhile, they missed some of these coins:

Details, but $30 w/Buyer's Fee.


$28 w/Buyer's Fee, a woody that knocked about 30% off Greysheet.


$11 w/Buyer's Fee; to be honest, I'll take about any reverse proof Presidential dollar at that price if it's graded. These things are crazy cool.


$27.01 w/Buyer's Fee. Bid is $60.

I would upload more pictures but I think the limit for one post is 10. Simply crazy how the best deals practically make themselves known late in the auction.

 

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I had a similar experiece with Heritage bidders a few days ago, but I will get to that.

Way over paying for an impaired Proof 1906 Indian Cent, which is common date, is stupid. Perhaps they saw that it was graded by CACG, which is slabbed version of the CAC sticker service. Some people think that CAC is the greatest thing in the history of coin grading. They go so far as to say that any coin without the sticker is inferior. They refuse to buy a coin that does not have a CAC sticker. Perhaps they only saw "CACG" and didn't bother to understand that the "perfect grading service" had said that this coin was damaged. That's all I can think about this.

As for Heritage, I bid $7,500, which works out to $9,000 with the buyers fee, on a 1797, 16 star dime in PCGS VF-25. The PCGS CoinFacts retail amount is $8,250 for the coin. There were no posted auction results which came even close to $8,250. I figured that my over bid would win it. The slab did NOT have a CAC sticker. and this coin is not even close to being the finest known example. Somebody outbid me with an $8,000 bid which comes to $9,600 in total. That has to be an all time high bid for the coin in that condition.

This is why I prefer buying from dealers and avoiding auctions. I can count on one hand the times I have gotten a bargain in an auction. When I win it's either fair, or I figured I overpaid.