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<p>[QUOTE=&quot;messydesk, post: 2428732, member: 1765&quot;]I guess that&#039;s how I&#039;d describe the results of the Pogue auction last night.&nbsp; This scant 36-lot auction was going to be the cornerstone sale of the entire series, featuring the Brand-Childs 1804 Dollar (lot 4020) and the only privately owned 1822 $5.&nbsp; Coins like the <i>three </i>MS66 1795 bust dollars took a back seat to these super-coins, even with their $600K - $1M sale prices.&nbsp; Effusive prose describing the 1822 $5 that hadn&#039;t been on the market since 1982 gushed about such detail as the exquisite shape of the upper curve of the base of the 2s.&nbsp; The 1804 dollar was described as &quot;the crescendo&quot; in a collection that was a &quot;rhapsody in metal&quot; (a puzzling metaphor, since a crescendo is a phrasing device that leads somewhere, but I digress).&nbsp; What could possibly happen that would distract from this numismatic auction of a lifetime?</p><p><br /></p><p>Lot 4020: Passed</p><p>Lot 4025: Passed</p><p><br /></p><p>Well, crap.&nbsp; But maybe not.</p><p><br /></p><p>Unofficial estimates gleaned from assorted internet sages had the 1822 $5 selling for between $2 and $8 million.&nbsp; The 1804 dollar had a similar wide range, with prognostications about it breaking the record for most expensive coin sold at auction.&nbsp; There was bidding on both lots, but the reserve was never met.&nbsp; The 1822 $5 was bought back at a $6.4M bid, and the 1804 $1 at a $9.2M bid.&nbsp; Figuring the buyer&#039;s premium, there were willing buyers at $7.3M and $10.6M, but not even the curves of the 2s or crescendo of the collection could push buyers further.&nbsp; Weak market?&nbsp; Nah.&nbsp; The rest of the coins in the sale mostly beat the high estimates six figures at a crack.&nbsp; People wanted these coins, but Pogue Collection wanted the two biggies more.&nbsp; I&#039;d say that if someone has a &quot;Box of Two&quot; collection, an 1804 dollar and an 1822 $5 would make a damn fine statement.&nbsp;&nbsp; These coins will probably come up for sale again in most of our lifetimes, and I&#039;ll get to drool over coins I can&#039;t afford once again.&nbsp; Until then, I&#039;ll save up my money and a spot on my bookshelf for the inevitable post auction Pogue Syllogue.[/QUOTE]</p><p><br /></p>

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