$7.6M for the 1933 Saint!!!!

[Tradedollarnut]

The old record just got blown away by 50%!!!

 

[dragon]

Who bought it??

 

Dragon

[EVillageProwler]

I dropped out after around $5M...

 

EVP

 

[Hoot]

Details EVP! How fast did it go? Who participated and WHO WON THE DAMN THING???

 

The whole country feels 20 dollars richer, I'm sure!

 

Hoot

[Sunnywood]

Hey all, it was very cool ... read about it here:

 

http://www.coinworld.com/news/081202/News_bulletin1.asp

 

I can't stand not knowing who the buyer was !!! I should have bugged the phones there.

 

Sunnywood

[Guest]

it's a Saint alright. Wonder if any of you is the proud owner......

[EVillageProwler]

Mark,

 

I actually blew off the auction because I wanted to spend some time with my dog-ter. This week has been hard on her because I've been away doing coin stuff so much.

 

One of my friends actually spoke to the underbidder. Imagine bidding $6.5M on a coin -- and losing!?! My friend told me that the underbidder was horribly disappointed.

 

EVP

[Guest]

if the underbidder wanted the coin, he shoulda wasted, ahem, bidded more money

but he should thank himself he didnt win that junk

[gmarguli]

One of my friends actually spoke to the underbidder. Imagine bidding $6.5M on a coin -- and losing!?! My friend told me that the underbidder was horribly disappointed.

 

I was horribly disappointed. However, I think I put in a fair bid. Had PCGS thought the coin was MS66 then I could have forced myself to bid higher, but not for just an MS65.

[Hoot]

I was bidding on the coin as an AU, so I stopped just shy of the 5M mark.

 

I wonder if there were any shill bidders in this one? HA!

 

Hoot

[Gunsmoke]

I would have liked to bid a million or two on the coin knowing that I would not win, but just to experience bidding that much money!

[Oldtrader3]

They were Pre-qualifying all buyers. That would preclude me as a bonafied client, even to bid. Interesting stuff. The Mint has allowed this coin to be sold, but it is pretty clear that any other 1933-P Double Eagle would have to be certified for sale by the US Mint. I wonder how big the Mint's piece of the pie was

[Sunnywood]

The Mint gets 50%, and Steven Fenton gets the other 50%. The documentation provided by the U.S. Treasury precludes any other 1933 $20 from ever being monetized or legally auctioned or owned. Any other 1933 $20 offer publicly in the future will be seized by the Treasury Dept. as stolen government property.

 

Sunnywood

 

[gmarguli]

Any other 1933 $20 offer publicly in the future will be seized by the Treasury Dept. as stolen government property.

 

The fact that the government has stated that no other 1933 $20 will be made legal practically guarantees that they will.

[Sunnywood]

Rumor heard on the ANA bourse floor: Bill Gates was the buyer. I personally don't believe it, because I heard the buyer had 30 days to pay and hadn't taken possession of the coin yet. Why would Bill Gates need 30 days to come up with $7.59 million? Nonsense.

 

I hope David Akers bought it. As the reigning expert on gold coins, he deserves it !!! Besides, judging from other things in his collection, I believe he could afford it !! If Harry Bass were still alive, it would have been a foregone conclusion that he would buy the coin.

 

Sunnywood

 

[gmarguli]

Why would Bill Gates need 30 days to come up with $7.59 million?

 

Because he gets interest on that money while it sits in a bank. Yes it is petty, but don't think that just because he has $50 billion that a few dollars don't matter.

 

I personally don't think he purchased the coin.

[Gunsmoke]

I actually purchased the coin, yes, now you know. I am debating where to send it to get slabbed.....NGC, PCGS?? Nah, I think I'll send it to ACG to make sure I get a really high grade

[Sunnywood]

Well, I saw Brent Pogue hanging around with David Akers for several days this week ... kinda made me wonder if the Pogues bought the 1933. (For those who don't know, Brent and his real estate developer father Mack bought the 1804 Childs dollar for $4.14 million a few years ago, with David Akers bidding on their behalf on the floor. However, I always thought the Pogues specialized in early coinage, pre-Seated Liberty).

 

SW

[Hoot]

Sunnywood - the Pogues probably got it for their U.S. type set.

 

Hoot

[Tradedollarnut]

I got conflicting feedback on that. After the auction they acted like they were very happy, but days later somewhat hinted they did not buy it.

[chrisfuccione]

TTT