WOW !! Insane bidding on GC

Discussion in 'US Coins Forum' started by Dug13, Jul 25, 2021.

  1. Dug13

    Dug13 Well-Known Member

    1938-D Buffalo.........MS 65.........Gold Label CAC...........Vintage 2.1 NGC holder.

    Probably the most common date/mm for the Buffalo series. I guessing it about a $75 - $100 coin. Tonight it just sold for a whopping $1,238.00 plus juice of 10% to 12.5%.
    Making it a $1392.75 for this one.
     
    Mr.Q and wxcoin like this.
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  3. Steven Shaw

    Steven Shaw Well-Known Member

    There had to be something else about it.
     
    Mr.Q likes this.
  4. KBBPLL

    KBBPLL Well-Known Member

    john65999 and capthank like this.
  5. Steven Shaw

    Steven Shaw Well-Known Member

    Even if it's a 67 it's worth about $400 and a 68 low end price is $1600
     
  6. ddddd

    ddddd Member

    It's the combination of the rarer holder and the gold CAC sticker that caused the high final price. Any coin in that generation of holder will sell for at least $300 nowadays (and quite a few are bringing more). And given that the holder is scarce, having a gold sticker makes it even less common. It's still much higher than I expected but I'm not fully surprised that at least two bidders chased it.
     
  7. Steven Shaw

    Steven Shaw Well-Known Member

  8. Dug13

    Dug13 Well-Known Member

    I think it’s the combination of a nickel with gold toning, gold cac, and gold embossed holder.
    Might one say, a golden trifecta?

    5% = coin
    5% = cac
    90% = 2.1 holder
     
    Stevearino likes this.
  9. Mac McDonald

    Mac McDonald Well-Known Member

    Not the strongest strike for a 68 to me...flat areas on the Indian's hair above the braid band, and on the front shoulder of the buffalo. Have seen better graded less.
     
    Mr.Q likes this.
  10. Steven Shaw

    Steven Shaw Well-Known Member

    I thought it was "buy the coin, not the holder". Isn't it worth the gamble to crack it out and re-grade it?
     
  11. ddddd

    ddddd Member

    The coin looks nice, so that helps but I'd agree it's no more than 5% like you mentioned. The holder and the Gold Cac are the driving factors. I wouldn't split the two into percentages as they are linked in this case. Drop the sticker, and the price is likely in the $300-$400 range. Drop the holder but keep the Gold sticker, and the price is in the $125-$200 range. So the holder plays a bigger role but having both is the real price driver.
     
  12. ddddd

    ddddd Member

    I would definitely not crack this coin out. I doubt it's a 68 (which is the minimum needed to make money at the price this ended at). The more interesting aspect is the fairly scarce combo of an NGC 2.1 holder with a gold CAC. There are less of those available than MS 67 Buffalo nickels (and I'm almost certain that even an MS 68 Buffalo Nickel is easier to find).
     
  13. Steven Shaw

    Steven Shaw Well-Known Member

    I never knew that the holder could be worth more than the coin. That's ludicrous.
     
    johnyb likes this.
  14. Garlicus

    Garlicus Debt is dumb, cash is king. Supporter

    What’s going on with his eye?(edit - it almost looks like a dropped Y, if that is the correct terminology)

    Slight rim ding near the top of the feathers, as well.

    725940CC-798F-4F52-9380-1B5F4F3EF3F2.png
     
    Last edited: Jul 25, 2021
    Stevearino likes this.
  15. baseball21

    baseball21 Well-Known Member

    Agreed. As time goes on the holder and gold CAC have a good chance to increase in value as more of those holders get lost. A nice looking 38-D isnt exactly a rarity even in high grades but that holder is and will just get rarer over time
     
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  16. wxcoin

    wxcoin Getting no respect for 65 years Supporter

    I think some people want to have a coin in their collection with a gold bean and they will pay top dollar for one.
     
    Stevearino likes this.
  17. cplradar

    cplradar Talmud Chuchum


    Literally they are bidding on the plastic?
     
  18. johnmilton

    johnmilton Well-Known Member

    I got burned on the Gold CAC thing when it first started. Never again! If the coin is in an MS-65 holder, but is really an MS-66, it’s worth MS-66 money at most. There are no guarantees that it will get the 66 if you resubmit it. If you are paying crazy money for a gold sticker, good luck to you.

    As for the OP coin, if the center of the obverse is that weak, I question the gold sticker.
     
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  19. Steven Shaw

    Steven Shaw Well-Known Member

    That's what I say!!
     
  20. Steven Shaw

    Steven Shaw Well-Known Member

    Agree, I'd rather put my money towards a rare coin than a rare holder.
     
  21. masterswimmer

    masterswimmer Well-Known Member

    Some people have stupid money and just want what they want.
     
    Stevearino likes this.
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