Why do high grade 1872 two cents turnover at auction faster than 1870's and 1871's?

I'm looking into upgrading my circulation strike two cent collection. So, I looked at the PCGS auction prices for 1870-1872 (the rare years) and noticed at the higher grades, there were fewer 1870's sold than 1872's. Seemed odd because the 1872 is supposed to be much rarer. Decided to do a systematic study within the limits of available data, all of which is from PCGS auction prices and the PCGS pop reports.

Years included: 1870-1872. Only grades 65 and 66 and colors of RB and RD were considered. Plus grades are included. There are no higher grades for 1870-1872 in auction results. Auction prices are from 2005 through 2016. In addition to the pop reports and prices, the turnover percentage was calculated as 100 X (no. sold 2005-2016) / population. Yes, I know there are duplicates in the population reports, but there are in the auction sales, too.

The results are in the attached picture. There is no doubt that high-grade 1872's turnover faster at auction than 1870's or 1871's. Why? I can think of a number of reasons:

1. Because they are significantly less expensive (but not cheap!), a higher percentage of 1870's and 1871's may be sold via dealers rather than at auction compared to 1872's. 1870's and 1871's in 65RB may sell for under $2K, whereas 1872's in 65RB often go for more than $10K.

2. Collectors who can afford high-grade 1872's don't mind the cost of upgrading, so the 65RB's are put back on the auction block as these collectors go for something better.

3. 1872's bring bad luck, so the owners die and the heirs sell them.

4. 1872's go rancid and stink, but auction companies know how to rejuvenate them.

5. Your guess???

Cal

 

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#3 made me laugh out loud. I'll go with 3 lol

 

#1 is a very rational analysis.

#3 makes for the best story telling!

 

Having been there on this specific coin I'm going to go with #1. 1870 and 71's can be found everywhere but the nicer 1872's will be sent to auction to try for higher prices.

I bought my 1872 from a dealer across the country from me.

 

The coin perceived as rarer is being bought (and churned) more often by dealers than collectors. Happens with many key dates; people buy them to flip, not collect.