$20 saints

[Mark T]

 

Actually the coins sold for more than melt.

With that said these prices are very low, I noticed the same thing with the Heritage Coin Fest Auction a few weeks ago. I was tempted to pick up a $ 20 MS 63 but decided against it the day the coin went up for sale.

 

I realize they sold for slightly (+8%) over melt value but the seller ended up with well under melt value. These melt at $1350 or so today. The seller would have netted maybe $1250. I'm still shaking my head. It's been 2 years since these have gone that cheap and gold was $750/oz then............

 

Do not assume that the seller paid a sellers premium , if the seller consigned a large number of coins then Bowers probably was willing to waive the sellers fee.

True, but $1466 with the buyer's premium means they hammered at $1275. So even if he got 100% of hammer.....

 

By the way, there is currently a sight-unseen bid of $1815.

 

 

Ok , I was hit with the stupid stick when responding to this post, I forgot the price listed included buyer’s premium. The seller did get ripped on this pretty bad. My understanding is Bowers and Heritage will sometimes kick back a percentage of the buyer’s premium to a seller when they consign a large amount of coins.

Your understanding is correct.

 

 

A major auction house rep called me 2 months ago and asked if I would like to sell some of my coins. We talked about the premium’s, waiving the seller premium was not a problem, they were willing to also give me a percentage of the buyer’s premium depending on how much I consigned with them . I think it was 5 % .

I am not selling my coins .