I found the turnaround and markup on this distinctive coin quite interesting...

[James_OldeTowne]

An 1877 Indian head cent in ANACS PF-08 sold for $862.50 (including 15%) in the Scotsman auction and is now available for $1175 from dealer's inventory

 

Your thoughts?

[EZ_E]

I remember reading about this coin in the catalog and found the description fascinating. About how the E and N in CENT are pronounced and on the business strike counterparts, they are worn and indistinct.

[CHABSENTIA]

Not that familar with Scotsman but it would seem logical thay if it sold for soem $800.00 and was now in Dealers Inventory that the Dealer bought it.

 

I don't know waht the FMV is on this coin but lets say taht I owned the coin and decided to let Scotsman auction it and was it reached my reserve and there is no interest past this point. Scotsman thinks that it is worth more and/or can sell it for more so once it reaches my price or better they out in an offer and nobody bids higher so they purchase it and mark it up.

[gmarguli]

Seems like a pretty typical mark-up for NEN. I see a lot of world coins on their site which I know where they came from and what they sold for.

 

The price for this coin doesn't seem too out of line. It sold cheap at Scotsman and NEN is asking a little too much (typical, as they will deal). Probably a $1075 coin.

[James_OldeTowne]

I agree that the guys at NEN will wheel and deal, though I usually can't get them down by 10%. Maybe I'll be more persistent in my next negotiated purchase with them .

[Houston Investor]

It usually takes a 40% markup to make it in the coin business. I would not expect them to discount a key coin.

 

Coin World Value Trends for VG 08 is $1100 so it seems reasonably priced for a key coin. That it was once a proof seems alike a moot issue considering all the wear. Considering how expensive this coin is in mint state, probably a good deal for the guy looking to fill that hole.

[michael]

typical for northeast

 

strong markups and then they will deal if they have had the coin for some months

[michael]

personally i dislike the coin because of the still active green spot on the reverse to the right of the letter E in ONE

[World Colonial]

Agreed, I have seen many world coins at public auction that they subsequently offered for much higher markups than this one (like over 100%). Some of them I have tried to buy myself but because I can never make it to the auction in person, I've always bid conservatively and lost.

 

I have bought a total of four coins from them, and even though I'm sure they made good money on them, the prices were still reasonable to me because they were both less than what I thought they should sell for and because I could not get them anywhere else (only example I have seen).

 

I only made an offer on one of them and I believe they ultimately accepted between 10% to 20% less than ask. But it was a Bolivian coin (1874 NGC MS-65 20 Centavos) which though it is rare in high grade, has weak demand.

[TJ'S Coins]

I agree that the guys at NEN will wheel and deal, though I usually can't get them down by 10%. Maybe I'll be more persistent in my next negotiated purchase with them .

 

My experience and sentiments exactly. I have picked up some nice coins from them but they are a bit on the high side.

[SkyMan]

There were some less than flattering comments about "Scotsman" ATS recently.

[BECOKA]

A dealer has to get his inventory somewhere. The majority of the collecting publich does not attend these auctions so it seems reasonable.