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Hit and Miss in ANA auction by Electric Peak Collection

2 posts in this topic

  • Member: Seasoned Veteran

No pattern developing here...


As is typical, I had my eyes on some half dimes in the recent auctions associated with the ANA show. In particular, I was interested in an 1860 transitional pattern ("Obverse of 1859" with the hollow stars and reverse of 1860-1873 with the new wreath - the "coin without a country", so-called due to the lack of UNITED STATES OF AMERICA on either side) and an 1867-S.


The pattern is graded MS66+ by PCGS and better struck than most examples, so I expected a hammer price beyond my current spending comfort zone. But going in to the live session, the current bid was low. I bid (on-line, not in the room) a couple times, and was outbid. Although I thought it was worth quite a bit more, and had planned to go a bit higher if necessary, I hesitated. I lost. The new owner got a really good deal, IMHO.


I let a nice MS66 1861 normal date go since it was already up to the most I would have wanted to pay. I have two 1861s, which are examples of two varieties of the so-called 1/0 over-date (probably really a defective date punch). So I "need" the normal date. But it is common enough that others will surely become available on a regular basis.


I had put in a strong maximum bid on the MS65 1867-S. Live bidding left me with a win for less than that max bid, so I was happy.


When the coin arrived, I was initially disappointed. I was in my unlit kitchen, with only overcast outdoor light filtering in. The coin looked dull, like some of the Newman coins. Fortunately, when I looked at it with better lighting, the luster was quite obvious - not great on the reverse, but quite nice on the obverse.


Aside from that, I noticed an MS64 1844-O in the Stack's-Bowers auction. This is the 5th appearance of the same coin in the last four years. It went unsold at Heritage twice, and then once with SB, with a $11,000 reserve (or maybe it was $12,000). The last two times at SB it has gone unsold with even higher reserves! And don't forget the 17.5% buyer premium... Given the certified population data, and comparing with other scarce issues in the series, five figures does seem like too much. Apparently everyone except the owner agrees.


Anyway... Here's shot of the 1867-S.


Happy Hawaii Statehood Day!



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