Discussion in 'Ancient Coins' started by Al Kowsky, Mar 25, 2021.
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Was that a Syracuse dekadrachm?
The dekadrachm was a beauty , & signed by Kimon. I could understand someone going crazy for that coin, but $4,080 for an Owl worth $500-700 ?
Yes, it was a Syracuse (signed by Kimon) which opened at $130K but ultimately sold for $216K all-in. I didn't buy it but I think it was one of the only reasonably priced coins in the sale.
I agree, that coin merited a high price. Honestly, at the estimate price, I would have happily cashed in some Roth money to buy it- would have been a steal.
Many years ago, at my local coin shop in San Jose, a dekadrachm came in from off the street. As I remember, it was a genuine example, but not the best example and probably in the VF-EF range grade-wise and it had some flan issues as well. I probably could have purchased it for around $2,000. However, at the time I was working at a non-profit, so my salary would not allow such a purchase at that time.
I think it is reasonable to assume that people who purchased these coins recognize, even at a fundamental level, the importance of them. Economically the incentive for these buyers, new or experience, is to preserve their purchases with the expectation of monetary gain somewhere up the road.
As I understand, a lot of the buyers in this price range are investors. They'll hold the coin for several years, then hope to profit at the sale. Based on other Syracuse decadrachm sales, this coin seemed to go on the low side, though I doubt I could've convinced my significant other to invest in it.
I think that's a very nice coin. What exactly is the "Paramount Collection?"
The coin itself is quite nice. However, at that hammer price range, one can get an MS-grade example, without graffiti.
The Paramount Collection auction is currently happening at Heritage, from 03/25 to 03/27. It's a big collection of ancient and world coins, with a lot of gold coins within. It comes with a beautiful catalog (yes, I received one). You can see the NGC label carrying "The Paramount Collection" at the last line.
I don’t want to infer anything lest this thread devolve too much, but that being said. I have definitely noticed a recent uptick in insane prices for “cheaper” coins and more often than normal now see people mentioning money laundering on this forum. Well, it looks like the US just recently passed a new law that would make money laundering far more difficult for $10k+ acquisitions in this market.
It would thus follow that the cheaper coins are now bid up to an astronomical price in relation to their value but remain below that $10k threshold.
Again I’m not saying it is happening, just pointing out coincidences...
Why would they be destroyed? Sorry if I am missing the joke - but I do not understand what you mean?
of publicity lately. Jordan rookies ('86 Fleer #57) selling for $750 K
in recent auctions. They've come back a little lately, but still multiples
of what they were selling for pre-COVID (Mar. 2020). And that's just
Separate names with a comma.