One auction too many yesterday?

[Richym99]

Looking at the results from yesterdays three auctions, there is a striking difference between the results of the two Coin Cabinet auctions, and the CoR auction which was sandwiched in between.  

[Rll1288]

Still bargains to be had at all three 🙂

[Richym99]

16 minutes ago, Rll1288 said:

Still bargains to be had at all three 🙂

Good for buyers, not so much if you are a seller.

75 out of 200 lots in the CoR went unsold.  

[Wampum]

Only just seen the CoR auction looking at lot 98 and Lot 99,can't believe the difference, price of plastic must be on the rise.

[Arbkev]

There was also an auction on 'The Coinery' website. Too many auctions, not enough money 🤣

[CollectorNo1]

I'd love to know what the Gold 50p kew Gardens went for eventually on the RM's first auction....last time I looked it had a bid of £18,000 without the  20% vat and 4% buyers premium!!!!!😱😱😱

[Richym99]

12 minutes ago, Wampum said:

Only just seen the CoR auction looking at lot 98 and Lot 99,can't believe the difference, price of plastic must be on the rise.

In fairness, MS66 is the highest that a 1957 has been graded, and there are only 6. That commands a high premium in itself

 

[dicker]

29 minutes ago, CollectorNo1 said:

I'd love to know what the Gold 50p kew Gardens went for eventually on the RM's first auction....last time I looked it had a bid of £18,000 without the  20% vat and 4% buyers premium!!!!!😱😱😱

Buyers premium….in this context it looks unfair at best

 

 

[Wampum]

3 hours ago, Richym99 said:

In fairness, MS66 is the highest that a 1957 has been graded, and there are only 6. That commands a high premium in itself

 

totally agree with you that a high grade would (and should) command a better price ,

however there were over 2 million minted for this year, NGC have graded 115 so with 6 graded as 66 that makes a total of 5% of the total submitted getting the top grade that NGC have given out.

I just feel that it is unfair that someone has paid more for the plastic than the coin.

Gillick sovereigns are really beautiful coins and can be found raw in pristine condition, NGC can ruin a collector's experience as they look at the grade and not what is in the holder.      

Edited September 27, 2021 by Wampum

[Richym99]

12 minutes ago, Wampum said:

totally agree with you that a high grade would (and should) command a better price ,

however there were over 2 million minted for this year, NGC have graded 115 so with 6 graded as 66 that makes a total of 5% of the total submitted getting the top grade that NGC have given out.

I just feel that it is unfair that someone has paid more for the plastic than the coin.

Gillick sovereigns are really beautiful coins and can be found raw in pristine condition, NGC can ruin a collector as they look at the grade and not what is in the holder.      

NGC only grade the coins on an anonymous basis, so to suggest they can ruin a collector is a liitle OTT. They do not assign a value to any particular grade.

Ultimately, the only person responible for the final sale price is the person who submitted the bid. If they over bid then it is they who have to accept the responsibility. 

[CollectorNo1]

24 minutes ago, Wampum said:

totally agree with you that a high grade would (and should) command a better price ,

however there were over 2 million minted for this year, NGC have graded 115 so with 6 graded as 66 that makes a total of 5% of the total submitted getting the top grade that NGC have given out.

I just feel that it is unfair that someone has paid more for the plastic than the coin.

Gillick sovereigns are really beautiful coins and can be found raw in pristine condition, NGC can ruin a collector as they look at the grade and not what is in the holder.      

Raw vs Plastic slabs....albeit graded and slabed coins are worth more..(can never get my head around that) but raw everytime...paying some company and coin grader I don't know and never met...to ascertain in their opinion what condition rarity if its PL,ULTRA CAMEO etc etc.....my coin is and giving it a MS or PF/PL......66/67/68..........is just not for me..just my opinion..but I just can't pay so much money for a piece of plastic!.....can I get a higher price for my coins if I wrap them up in a crisp packet...🤔🤔🤔🤣🤣🤣🤣

[Wampum]

2 hours ago, Richym99 said:

NGC only grade the coins on an anonymous basis, so to suggest they can ruin a collector is a liitle OTT. They do not assign a value to any particular grade.

Ultimately, the only person responible for the final sale price is the person who submitted the bid. If they over bid then it is they who have to accept the responsibility. 

Slight word omission there sorry, should have been collectors experience, it's not just NGC,

any third party grader.

What I was really meaning to say is that if someone new to the field starts buying top pops, and once starts to gain more experience in coins,

finds out they possibly could have gained more bang for their buck through Raw coins as it where, Numismatics should be a good pass time without buyers remorse ,

Fully agree however Caveat Emptor.      

[Richym99]

11 minutes ago, Wampum said:

Slight word omission there sorry, should have been collectors experience, it's not just NGC,

any third party grader.

What I was really meaning to say is that if someone new to the field starts buying top pops, and once starts to gain more experience in coins,

finds out they possibly could have gained more bang for their buck through Raw coins as it where, Numismatics should be a good pass time without buyers remorse ,

Fully agree however Caveat Emptor.      

Nobody forces anyone to buy slabbed coins. There are plenty of outlets selling raw coins as well. As you say, however, Caveat Emptor. You only have to look at the number of threads in these very forums started by individuals who have bought or thinking of buying coins that they are having doubts about authenticity. Then you have the other side, where someone will post a photo of a coin and ask for an opinion on it's grade, only to be told it is not possible to reliably judge from a photo. But isn't that what you do when you buy a raw coin online. You look at a photo and make a judgement whether it is worth what you are being asked to pay for it. 

At least with slabbed coins, you are buying something which is 99.9% guaranteed genuine and is of known quality, which you can then compare for value to similar quality coins.  

[Bruce06]

5 hours ago, Arbkev said:

There was also an auction on 'The Coinery' website. Too many auctions, not enough money 🤣

Not enough is my problem as well😅....there was also Lockdales started from Friday to Sunday as well...

By the way, three graces silver 1oz only go for 600 in the Coinery.

[dicker]

There are a couple of coins I would only buy slabbed and that’s because I cannot tell if they are counterfeit - notably the US Incuse Indian Heads.  

When gold is on the way down, It does seem to have an effect on auction results - particularly with coins at the lower end of the numismatic scale (not lower scarcity).

My guess is that with multiple auctions, close together there was a lot of choice for a limited market, coupled with a lower gold price.

As for slabbed…some people like slabbed coins and it does make a difference, particularly when buying online and you cannot examine coins yourself to determine a grade.  I find it hard enough judging AU58 or MS61 with a coin in my hand and impossible with photos on a coin auction site!

Best

Dicker

 

[GoldStatue]

13 hours ago, CollectorNo1 said:

I'd love to know what the Gold 50p kew Gardens went for eventually on the RM's first auction....last time I looked it had a bid of £18,000 without the  20% vat and 4% buyers premium!!!!!😱😱😱

The last time I looked it was at £24k but they're not giving away the final price at the moment so there could have been a last second snipe, ebay style 😀 It is a bit of a head scratcher, it isn't even a coin from the original 2009 year and you can be sure that isn't going to be the last Kew gardens release the Royal Mint do.

There was a previous auction from the Royal Mint for an Elton John coin for charity, I guess they're going to be doing a lot more in the future.

I'm not sure why there were so many auctions at the weekend but they could have timed them a bit better, maybe they would of got better prices if they were a week later when people would have been paid.

[StackemHigh]

9 hours ago, dicker said:

There are a couple of coins I would only buy slabbed and that’s because I cannot tell if they are counterfeit - notably the US Incuse Indian Heads.  

When gold is on the way down, It does seem to have an effect on auction results - particularly with coins at the lower end of the numismatic scale (not lower scarcity).

My guess is that with multiple auctions, close together there was a lot of choice for a limited market, coupled with a lower gold price.

As for slabbed…some people like slabbed coins and it does make a difference, particularly when buying online and you cannot examine coins yourself to determine a grade.  I find it hard enough judging AU58 or MS61 with a coin in my hand and impossible with photos on a coin auction site!

Best

Dicker

 

Last time i looked at a slabbed coin on the internet what a shock i got. A ten pack of unused slabs with preprinted labels! The idea is i believe to put cleaned coins that wouldn't get the desired grade in the slabs to sell on. Real coins real slabs and still a real con.

[CollectorNo1]

Oh yes...been happening for a long time..can't trust anyone...😟😟😟

[Richym99]

2 hours ago, StackemHigh said:

Last time i looked at a slabbed coin on the internet what a shock i got. A ten pack of unused slabs with preprinted labels! The idea is i believe to put cleaned coins that wouldn't get the desired grade in the slabs to sell on. Real coins real slabs and still a real con.

That's where due diligence comes in. At the very least the bar code should be checked against image of the coin on the NGC/PCGS website. If that doesn't correspond, it should be reported.