Outbid @ Heritage... Flying Eagle Cent went *way* higher than I thought it would

Discussion in 'US Coins Forum' started by Dougmeister, Jan 14, 2019 at 7:54 AM.

  1. Dougmeister

    Dougmeister The Coin Scavenger © ¯\_(ツ)_/¯

    https://coins.ha.com/itm/p/1291-56046.s

    I've been talking about this one with @C-B-D. I know Greysheet is just a guide... and this specimen had some neat toning and a CAC sticker... but still... CDN for MS63 is $875 and this sold for... $1,440...

    Other than the above-mentioned reasons (or 2+ people in a bidding war), don't you think this is a crazy price to pay for a FEC? Or am I missing something here?

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  3. cpm9ball

    cpm9ball Cannot Re-Member

    @Dougmeister

    Many years ago, I recall one occasion when I was (similarly) outbid, and when others asked me how I felt, I said, "He wanted it more than me!"

    C'est la vie!

    There will be others.

    Chris
     
  4. C-B-D

    C-B-D U.S. Type Coins or death! Supporter

    To me it qualifies as an MS64. But even then, 64's can be had on Heritage frequently for around $1100 (not CACed). I don't see any varieties for it...
     
    wxcoin likes this.
  5. Clawcoins

    Clawcoins Well-Known Member

    Auction style bidding sometimes brings out the "I'm not gonna loose" this emotion in people. And thus common sense of basic economics can fly out of the window.
     
  6. Same here, but attractively-toned FECs are not overly common
     
  7. CoinBlazer

    CoinBlazer Registry Set Enthusiast

    I don't find this coin very attractive. Design & Toning included but that's me
     
  8. Treashunt

    Treashunt The Other Frank

  9. RittenhouseCU

    RittenhouseCU Member

    The piece is fully original with outstanding luster and faded mint color. It's a solid candidate for upgrade. And, it may be a better variety - check Snow's book. Even if it isn't, premium coins bring premium prices.
     
    PlanoSteve, Mainebill and micbraun like this.
  10. wxcoin

    wxcoin Getting no respect for 63 years

    Looks like a pretty solid strike and still has some luster. Looks better than most MS 63's that I've seen. Even with that I wouldn't have bid that high.
     
  11. STU

    STU Active Member

    a coin is worth what a person is willing to pay no more no less
     
    I_like_Morgans likes this.
  12. ldhair

    ldhair Clean Supporter

    I can see the coin selling for $1440. That's about the price these bring for a 64.
     
    1916D10C likes this.
  13. Bob Evancho

    Bob Evancho Member

    In my opinion, I have seen nicer 63's. GRADING is subjective and suggestive by grading companies. The eye appeal is not there for me after I expanded the photo. There are too many marks above the 18 of the date and through the 1 and also above the eagle. On the reverse there are too many hits that don't look appealing. Any coin below a perfect MS-70 should be details graded explaining why it did not get a perfect grade. I guess I grade too strictly. Be patient and you will find better at a more reasonable price. I'm sure you are of the philosophy to buy the coin (based on your EYE APPEAL) and not the holder. Happy coin collecting.
     
  14. Seattlite86

    Seattlite86 Outspoken Member

    I think it was bought based on eye appeal and that coin is a stunner!
     
  15. KevinM

    KevinM Member

    I bid alot on older rifles and that has happened to me once!I started looking at cost+fees(auction) and it has to come under what I think the real value is for the market.I place the bid the max I will go and walk away watching an auction give one that itchy finger.As to the above coin that is a beaut ;)
     
  16. IBetASilverDollar

    IBetASilverDollar Well-Known Member

    I love that coin and would have paid that for it had I seen it. I semi-actively scan for FECs for my type set and it is HARD to find ones with nice eye appeal and minimal distractions.

    One thing about heritage I learned at Central States. These big shows you are at a huge disadvantage bidding against those who attend the lot viewing in person because of heritages images. I was looking for a barber dime at the time and looked through and made notes on about 6 examples that stood out and made notes on the ones that were lacking luster to avoid, etc. Wouldn't you know it the 6 examples I marked as PQ all went for big numbers and the ones I marked to avoid sold for discounts. They all looked similar in images.

    I also fell in love with a CBH in an old fatty AU58 that had just insane eye appeal and online it looked like every other CBH thanks to heritage's dull images and I thought I could nab it. Nope, went for over $2k or 3 times as much as standard ones for that coin. So yeah, suffice it to say when you see a coin on Heritage bid up real high it was seen in hand by a few and was bid to where it should be.
     
    micbraun, wxcoin and TypeCoin971793 like this.
  17. panzerman

    panzerman Well-Known Member

    The same happens with all other coins. The prices have been escalating, way faster then inflationary pressures. I won a coin recently that had 5 previous auction tags, from 1934/ Berlin auction where it realized 18 RM ($5)
    In 1965 same coin sold for 140 Swiss Frcs ($140) In 1990 sold for $450US, $1450US in 2005, 4200 Swiss Francs $4500US in 2018!
    The coin was a MS-63 Fiorino di Camera ND Rome Mint/ Pope Alexander VI (Borgia) Papal States. And this trend will keep going, since the plastic/ paper currencies invite inflation. Only real money is precious metal forms, like the coin I posted. 8f03ca70cee77a51fe3e151aad50249c (1).jpg
     
    IBetASilverDollar likes this.
  18. baseball21

    baseball21 Well-Known Member

    Just the same thing that many others have been missing for quite a while now in that there are a lot of buyers out there willing to pay up for the best quality and eye appeal. Best quality does not mean highest graded and outstanding eye appeal is bringing strong prices.

    It's more of a surprise when a knock out coin goes for guide or right around it
     
  19. Santinidollar

    Santinidollar Supporter! Supporter

    Nice coin but take solace in the fact the other bidder paid way too much.
     
    Bob Evancho likes this.
  20. physics-fan3.14

    physics-fan3.14 You got any more of them.... prooflikes?

    The color on that coin is incredibly attractive. I'm guessing that's the reason for the high bids.
     
    ksparrow likes this.
  21. baseball21

    baseball21 Well-Known Member

    They got an outstanding coin that they will enjoy how is that paying "way to much"?

    Sticking to price guides in areas that aren't widgets gets average coins at best
     
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