I was bored tonight and was looking through an up and coming Bowers and Merena auction. I have never even bid in one of their auctions but I noticed a coin that would fit in my type set. The coin is uncertified. My question to the group what has your expirence been with this auction house? And why not what do you think about the coin? http://www.bowersandmerena.com/auct...essionno=1&catno=1047&searchstring=&lotno=665
Agreed. "looks good" is correct. BUT since they don't have it slabbed I believe they know it won't slab. The "distracting abrasions" descriptor is the clue. I suspect that's their terminology for whatever the problem is (cleaned?)
I was thinking that it had been cleaned and couldn't figure out what distracting abrasions really was really trying to say. Do you think they would waste their time in trying to get a AU common date 20 cent piece slabbed?
Based upon what I see in the greysheet the coin will currently max out at about $250. If it slabbed at AU-58 then it would be more like $400, more if you look at retail prices. I don't know if they consider that worth their time; I would.
The coin looks nice. If it were mine, I'd have it slabbed. However it might be on consignment from a seller who does not want it slabbed.
Because of the "distracting abrasions" descriptor AND the fact that slabbed coins realize higher prices, I don't think your conjecture is reasonable.
That's an important point. Remember, it's in the house's best interest for the coin to bring top dollar. They get more BP and consigner gets a better return as well. For that reason, they check many of the consignments for potential upgrades. They know that this coin would bring more in a PCGS slab. Why didn't they submit it ? They think the coin won't pass. I tend to agree. The coin has the washed-out, lustre-less look of a cleaned coin. Hard to tell if that's just an over-exposed photo.
Maybe I'm missing something but I thought the topic was for a coin for a type set. Unless your type set is all in plastic slabs, why bother having it slabbed at all. I'm not a big fan of slabs and if you like that coin, need it for a set, forget about anything dealing with slabbing and grading. That is a nice coin for a type set. Even if cleaned, so what. Still makes for a help in completing a type set.
It depends on how one feels about cleaned coins. The vital point is that one go into any deal with eyes wide open. In this case, there are some indicators which suggest the coin is cleaned, and Tater asked what everyone thinks about the coin. Personally, I would pass. If Tater is cool with a cleaned coin, then bid accordingly and see how you do.
I agree about the slab. I have broke many of slabs before. I was just worried about buying an unslabbed coin from an auction house that I have never dealt with before. I guess I was just wanting the slab to help ease my mind about the condition of the coin. Also I thought that large auction houses would rather sale slabbed coins. I have no problem in cracking one out. Interesting I sent them an email about the coin. They said that in had the coin looks great. He admitted that the photos are over exposed and make the coin look clean. He claims that it should slab in NGC or PCGS and they were going to have it done but it was a late submission and they did not have the time to get it submitted and back from a TPG. Know the question is do I believe them? Don't know. I can get a choice AU here in my local town for a little more than $300. I noticed this one was already bid to $200 and it is questionable at this point if it has been cleaned.
The company is an OK one, even without Bowers or Merena. When Bowers was the owner, it was the top or near the top auction house. I think they are sending a message about the coin's abrasions, but the photo is bad, and I am guessing everyone is referring to the ones in the right obverse field? They don't look like cleaning marks that I can see. At first I thought they were indicating the darker lines on the reverse, but that doesn't appear to be abrasives. But again one must measure their bids ( if any) to their need and appreciation of the coin. Where is everyone seeing these abrasions as that isn't mentioned in the blurb by B&M? Jim
B&M's photos are always crappy and washed-out-looking, I wouldn't read too much into that, guys. As for the coin itself, it looks OK to me, but I can tell you one thing, I would NEVER bid on a B&M auction sight-unseen. To do so would equate to swimming with sharks and forgetting your shark cage -- you'll likely get eaten.
The real question is Do you know anyone who is going to attend the sale, or at least the lot viewing, that can look at it for you?
