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I Just Had an Ephiphany.. posted by Beaw

Started by CSJournals-migration,

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CSJournals-migration

CSJournals-migration

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or how I continue to analyze things long after they no longer need to be analyzed.

 

Okay, going back a few weeks, you may recall I had bid on a 1918 AU58 Mercury Dime that cataloged for about 60.00. Now I understand listed prices should only be used as a rough approximation but the price was listed across numerous current pricing guides, including NGCs, during the period of the Ebay auction.

 

Well, the coin eventually closed at a whopping 160.00 or so which far exceeded that 60.00. I couldn't figure out, at the time, why that occurred. It suddenly came upon me last night.

PCGS with its new category of circulated sets may be the reason a bidding frenzy ensued for a ho-hum coin. Since AU58 is the top of the circulated chart (unless you get a plus), that would explain why so many otherwise sane people (Heck, I even bid 100.00) would drive that coin so high.

 

I may be wrong but I think I'm on to something.

 

Go Steelers!!!!

 

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