My kind of coin and what would YOU bid for it?

[MarkFeld]

The PCGS MS64 1806 Draped Bust Quarter that I've posted a link to is one of the prettier coins of this type that I've seen. Just for fun, if you were a dealer and wanted to buy this coin for inventory, what would you be willing to pay for it? It lists at $17,200 in CDN and $13,500 in CCDN.

 

Link to 1806 Quarter

[EVillageProwler]

Let's not forget that it's an R.6 (13 - 30 specimens extant) and the finest known of that die marriage.

 

It's worth is beyond what the CDN says.

 

Case in point (sorta): the finest known (of 3) 1796 ED die marriage with the prominent rev die crack is graded VChVF and is worth somewhere between $45K and $55K. That's a far cry from CDN pricing!

 

EVP

[Hoot]

CDN pricing is insanely low for MANY series right now. I'd say that the amount to pay would be whatever you got it in auction for! If you knew the prospective clinets for such a piece (and if you're a dealer in these, you should), then they way to buy this coin would be with a dealer's commission from the client, especially since the hammer price is so uncertain.

 

Hoot

[TomB]

That's a very pretty coin and the first thing that I thought when I saw the image was that it appears to be a true MS piece. The rarity factor (R6) really puts this one out of the realm of an educated guess for me since I don't know how many folks aggressively collect Draped Bust quarters by variety in MS. I would assume this population of numismatists is small but that it is also deep-pocketed. Keeping that in mind, the only dealer who will handle this coin after auction will be that dealer with a client on the other end of the phone line. Certainly, it is intrisically worth far in excess of Greysheet, and a collector can wait for Greysheet to move while a dealer cannot necessarily employ the same timeline.

[IrishMike]

If I were a type collector I would be interested in this coin, having said that as well struck and rare as that coin is I think the current $18K bid won't come close, more like $22K. Could a dealer make money at that price, in today's market yes.

[gmarguli]

Nice coin. I would expect this coin to sell at a 30% premium to Greysheet. However, since it is a rarer variety, I have no idea. The coin does look wonderful and is the type of coin I'd love to own (nice strike, looks like good luster, wonderful toning that doesn't hide the design).

[Tradedollarnut]

It will sell at double greysheet.

[MarkFeld]

Bruce, I know you have done very well with your estimates in the past. But, I am willing to bet a lunch that it wont sell for "double greysheet".

And, now that I am self employed, I wont feel too badly about taking time out for lunch (or in this case, my winnings).

[EVillageProwler]

Folks,

 

Unless you have intimate knowledge of the coin in question, I think it is premature to try to guess its hammer price. The coin could be lousy, or it could be great. Either would affect the bidding on this piece above and beyond how the rarity of the die marriage would.

 

As for the number of collectors of Bust 25C by die marriage, I think there are many judging by the auction activity of the Logan Collection a couple of years ago. There is also tremendous pressure by the JRCS membership on Peterson and Rea to update the data from the Browning-Breen book.

 

EVP

[MarkFeld]

EVP, it is NOT premature to try to guess the hammer price - I started the thread, asking what people would bid on it! Of course, I (and they) understand that it's an exercise in fun, since many will not have seen the coin in person and/or wont really be bidding on it.

 

Also, it can't possibly be lousy - I already stated that it's "my kind of coin"

[EVillageProwler]

Ok, so it's not lousy. Maybe it's very PQ and one for the crackout guys?

 

Anyway, nice thread!

[Leothelion]

Folks,

 

Unless you have intimate knowledge of the coin in question, I think it is premature to try to guess its hammer price. The coin could be lousy, or it could be great. Either would affect the bidding on this piece above and beyond how the rarity of the die marriage would.

 

As for the number of collectors of Bust 25C by die marriage, I think there are many judging by the auction activity of the Logan Collection a couple of years ago. There is also tremendous pressure by the JRCS membership on Peterson and Rea to update the data from the Browning-Breen book.

 

EVP

If I were to bid on this coin and I had lots and lots of money and was very knowledgeable about this coin and wanted it so bad that I could taste it

then I would anticipate entering the bidding action, hopefully at about midway to the guessed price that I would be willing to unload on this coin! But I would have another 50 grand to play with just in case the bidding became so heated that I would try my best to stay in there and fight like helll to get that coin at whatever it would take and in the end I would have the saticfation of knowing that I own this coin, a coin that only 2 other people could have. My guess would be about 39 grand!

[Wihlborg]

That is a wonderful coin, certainly one that many of us would love to own. My guess as to its hammer price, $24,000-$25,000

 

John

[Tradedollarnut]

I saw the coin in person at Long Beach. The only backtrack I will make is perhaps I should have said twice blue instead of twice grey... but twice sheet it is!

[MarkFeld]

twice sheet it is!

Bruce, I'm going to be a (big) sport - if it brings either twice CDN or twice CCDN, you win. Otherwise, I win.

 

Doing the math, If the exact price is either $27,000 or $34,200, you win. If it brings any other price, you lose.

[TomB]

I just realized that I never guessed a price, just sort of hemmed-and-hawed about it. My range would have been $24,000-$27,000.

[Tradedollarnut]

Why, Mark, you devil! Go into business for yourself and the sharpness takes over!

[John Maben]

Hmmm.... how come no one has stated the obvious? If the coin is undergraded then of what relevance is CDN? It certainly looks much better than a 64 by the picture. If it looks as good in real life 40K would not surprise me in the least.

 

John

[Tradedollarnut]

Why, John, you devil! Go into business for yourself and every coin's an upgrade candidate!

 

Anybody know the last time those bids were adjusted? A lot of the high grade seated dollar bids haven't moved since the early 1990's. Talk about irrelevant! Perhaps this is the same?

 

The only PCGS MS64 quarters to sell at Heritage:

 

1805 Jan 2003 $36,800

1807 Sep 2002 $20,700

1807 May 2001 $21,850

 

And the only MS65 brought over $60k!

 

[goose3]

$50,000.00

 

Very pretty coloring and like someone else said.......upgrade candidate??

[michael]

i am not going to bid on this coin.............

 

but i think it will go for around $62500 including the juice

 

 

michael

[John Maben]

TDN--

 

Not............. but this coin is obvious by the picture. Great strike, great toning, no marks.......I've always said though, images and real life can be two very different things.

 

Type coins in general seem undervalued to me, and should see some nice gains if the overall market remains healthy.

 

John

[IrishMike]

John, I have to agree with your comment about type coins being underpriced in this market. I think there is more room for price increases in this market then for registry coins. Sets are getting harder and harder to complete at a high level. Maybe its time for a little more common sense in this market, but then again maybe not.

[Leothelion]

If this thread keeps going, we're likely to see predictions above 100 grand!

 

Leo

[chinook]

My thinking before I read these posts was a 30K coin. That puts it at about 2x sheet. I will go with TDN here and say 30k +/- 2k.

 

When opportunity knocks you must open the door.

[Count_Erfit]

I don't see how it could hit 100 grand without its being displayed on a historic print or something.

 

[Tradedollarnut]

Well, ya see, it's the first 1806 struck.... and therefore a national numismatic treasure. Well worth the money.

[ne-migration]

I would bid $55000.00

[jom]

Why, Mark, you devil! Go into business for yourself and the sharpness takes over!

 

Implying, of course, he had no sharpness whatsoever while working for Pinnicle?

 

 

jom

[MarkFeld]

Implying, of course, he had no sharpness whatsoever while working for Pinnicle?

Jom, I don't think TDN meant to imply that I had no "sharpness" previously, only that I didn't utilize it.