After my last post, did you think I wouldn't?

The fourth and final chunk of the Dan Holmes collection of large cents (his "late dates", 1840-1857) was auctioned by McCawley & Grellman / Goldberg Sunday. I had three targets going into that and today's Goldbergs' sessions.

First, I had my eye on an 1846 cent graded 66RB by NGC in today's session. It would be an upgrade to my 65RB. It had a low estimate of $800, and I figured a bid of $2000 might be enough, given that the hammer prices go very roughly 2x the low estimates for early copper in Goldberg's catalogs. Last night I wrote this coin off when the website was updated saying the starting bid was $4499 (presumably a reserve). I thought the consignor would be more likely to win a big lottery jackpot than get anything close to that amount. The coin is nice, but not that nice...

Second, I had in mind to get a nice VF-XF complete late date set (one per year) from the Holmes collection. I had the coins picked out, but the prices were just a bit too high for my taste as things got going. So I abandoned that idea without getting any.

Third, I was thinking of getting raw coins cheaper than their market value would be for the grades at which I think they could be slabbed. Unless I became particularly attached to such a coin, I would just try to slab it and sell it for a profit.

As it turned out, I couldn't watch the Sunday Holmes session in its entirety. When I was able to get back to it late in the evening, there were 50 or so lots left. With that 1846 out of the picture, I started looking for Category 3 possibilities. An 1856 cent, removed from a 66RB NGC slab came up. The low estimate was $400. I figure the coin could fetch 2-4 times that much in the slab. I clicked the bid button at $500 and again at $550 after an intermediate floor bid. Crickets. The coin will be mine soon. I'll drop it off with NGC at the next Baltimore show. Even a 65RB result would be a break even at worst, I think.

Today, the consignor of the 1846 cent did hit the jackpot. The starting bid was adjusted to $3500, and a lone internet bid snatched the coin away. I hope the new owner enjoys it.

Here's the 1856 cent. The edge tick is a little distracting, but it's pretty nice otherwise! Happy collecting to all!