Stack's Decatur Sale Lot 1159, 1867 5c PCGS MS65. Stupid Money?

[IGWT]

Link .

[MikeInFL]

Rare variety?

[IGWT]

Yes. There are 7 identified missing-leaf dies for 1867, and this is one of them, probably the finest known.

[MikeInFL]

Pretty nice strike too. So did you win it?

[physics-fan3.14]

That is a nice nickel. I wouln't be surprised if Lou won it at all, given his penchant for very fine nickels.

[skippy]

So, Lou, was it *your* stupid money? :-)

 

As you said, it's possibly the finest known ML. (Or at least finest holdered ML.) It sold for somewhere between 2 and 3x the price of a non-variety coin. While I wouldn't call that inexpensive, it doesn't seem wildly out of range. MLs often fetch double a non-variety price on eBay in lower grades.

 

What's more interesting is that there were at least two people who recognized the significance of this coin and bid strongly on it. Which of the 3 shield nickel collectors didn't bid? :-)

 

BTW, if you aggregate Fletcher and SNV, there are 8 known 1867 MLs. (all NR)

[IGWT]

I thought there were 7, not 8 . . . now I'll have to go back to see what I missed. I was hoping to acquire this coin for a non-variety price, which, of course, didn't happen. There are too many eagle eyes on these major auctions. The MLs are oddly popular among the Shield varieties (or at least that has been my experience) and carry a hefty premium. The price on this example is in line with what I have seen other examples fetch. So, to answer my own question, I think that it's a lot of money, but not "stupid" money.

[MikeKing]

I thought there were 7, not 8 . . . now I'll have to go back to see what I missed. I was hoping to acquire this coin for a non-variety price, which, of course, didn't happen.

 

Shame on you, Lou! Shame! (tsk)

 

So, to answer my own question, I think that it's a lot of money, but not "stupid" money.

 

So why did you ask in the first place??!!!!!

[MBA101]

I thought there were 7, not 8 . . . now I'll have to go back to see what I missed. I was hoping to acquire this coin for a non-variety price, which, of course, didn't happen.

 

Shame on you, Lou! Shame! (tsk)

 

So, to answer my own question, I think that it's a lot of money, but not "stupid" money.

 

So why did you ask in the first place??!!!!!

 

Always causing trouble!

[IGWT]

So why did you ask in the first place??!!!!!

 

Very good question! I'll answer as my teenage daughter would: "Because."

[IGWT]

As you said, it's possibly the finest known ML.

 

BTW, I was referring only to this particular ML, 1867 S2-6004, not to all coins from all ML dies. Even then there's no telling for sure whether there's another in better condition, whether holdered or not.

[skippy]

As you said, it's possibly the finest known ML.

 

BTW, I was referring only to this particular ML, 1867 S2-6004, not to all coins from all ML dies. Even then there's no telling for sure whether there's another in better condition, whether holdered or not.

 

I don't recall seeing an ML nicer than an MS-65 (any variety ML).

 

And I agree with your assessment that the coin was expensive, but not enough to be called "stupid money" given market conditions.

 

It would be a different discussion to try and figure out if MLs are, in general, overpriced with respect to other shield nickel varieties.

[MikeInFL]

So did you win it or not, IGWT?

[IGWT]

Stack'sView:

 

 

LouView™:

 

[MikeInFL]

Very nice, Lou.

[IGWT]

Thanks very much, Mike.

[Just Bob]

"LouView"

 

I like that. (and that great nickel!)

[MikeKing]

because that is one in purty coin silly!

 

WOW

 

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