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What am I missing?
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Started by Hoghead515,

27 posts in this topic

Hoghead515

Hoghead515

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Ive been watching the Great Collections auction tonight and seen an 1882 O Morgan in poor condition with 33 bids and the price $160.00. Then right below it is one in MS63 with no bids. What am I missing here? Im trying to figure it out. I looked the poor coin over. It is what it says it is as far as I can tell.  Polish_20220116_210050620.thumb.jpg.73a8dbf34705dad32271852cb456a3dc.jpgPolish_20220116_210659321.jpg.f1ddf380c1c2167b7dec4256b3da1ed8.jpg

Edited by Hoghead515
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Mohawk

Mohawk

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There are Lowball Registry Sets ATS, my friend, and some of those people are hardcore.  To them, PO1 is the ultimate grade and they'll fight for them in an auction.  I think that's what you're seeing...a Lowball rumble.

Edited by Mohawk
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Hoghead515

Hoghead515

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Thank you all for the replies. I didnt know that. It had me stumped for a few. That makes sense to me now. Espically with the bean on it.  Ill probably never put none of those together myself if I can keep from it. But its awsome there are people out there who do compete in a category like that. 

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Mohawk

Mohawk

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On 1/16/2022 at 9:37 PM, Hoghead515 said:

Thank you all for the replies. I didnt know that. It had me stumped for a few. That makes sense to me now. Espically with the bean on it.  Ill probably never put none of those together myself if I can keep from it. But its awsome there are people out there who do compete in a category like that. 

Yeah....you wouldn't think anyone would want a collection of PO1 coins, but some people do and they're freaking dedicated, man!! I've met a few of them....interesting folks.  Some of them are as hardcore as EAC fans, let me tell you.  It's likely not something I would ever get involved in myself, but I can see how it would be interesting.  If I saw a Canadian nickel dollar in PO1, I'd definitely find that interesting and I've sold a couple of Lowball Ikes for a nice profit over the years.  The best one was a 1971-D Friendly Eagle Variety in F-12, which is about as low of a grade as you can get on that coin and still be able to discern the hallmarks of the variety and verify it as such.  Any more wear on that coin, and it'd have just been a regular old 1971-D.  That was a fun sale.

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tj96

tj96

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I always thought straight graded PO-1's were interesting coin to find or have graded.  To much or to little meat on that bone!..  It's gotta be just about right.  You guys know if there's a "Post You're PO-1's" thread here?  I'll check and see if I can find one.

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VKurtB

VKurtB

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On 1/16/2022 at 9:13 PM, Coinbuf said:

I would think the CAC would hurt it in the NGC registry, ATS they have their sets split out between CAC and non CAC.   So it would have no effect in the non CAC sets.

Do they have sets of coins on which Laura Sperber has licked the slab? Oh wait, same thing as CAC. 

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Coinbuf

Coinbuf

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On 1/16/2022 at 8:46 PM, tj96 said:

I always thought straight graded PO-1's were interesting coin to find or have graded.  To much or to little meat on that bone!..  It's gotta be just about right.  You guys know if there's a "Post You're PO-1's" thread here?  I'll check and see if I can find one.

There may have been one although I do not recall seeing one offhand.   Those collectors that are into the lowball sets seems to hang out on the forum ATS mostly from what I have seen.

 

On 1/16/2022 at 8:48 PM, VKurtB said:

Do they have sets of coins on which Laura Sperber has licked the slab? Oh wait, same thing as CAC. 

Cannot say, I don't hang with Laura, why don't you ask her yourself at the next show.

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VKurtB

VKurtB

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On 1/16/2022 at 9:52 PM, Coinbuf said:

There may have been one although I do not recall seeing one offhand.   Those collectors that are into the lowball sets seems to hang out on the forum ATS mostly from what I have seen.

 

Cannot say, I don't hang with Laura, why don't you ask her yourself at the next show.

Not a fan. Besides, wasn’t she VERY ill?

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zadok

zadok

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On 1/16/2022 at 10:13 PM, Coinbuf said:

I would think the CAC would hurt it in the NGC registry, ATS they have their sets split out between CAC and non CAC.   So it would have no effect in the non CAC sets.

...cac is considered a positive....ultimate goal is to complete chosen set in po-01 without details coins...cac doesnt normally sticker details coins....

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VKurtB

VKurtB

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On 1/16/2022 at 9:54 PM, zadok said:

...cac is considered a positive....ultimate goal is to complete chosen set in po-01 without details coins...cac doesnt normally sticker details coins....

So how many “workers” do you imagine are out there carrying Morgans as pocket pieces to lower their grades? It’s a sick concept. 

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zadok

zadok

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On 1/16/2022 at 10:56 PM, VKurtB said:

So how many “workers” do you imagine are out there carrying Morgans as pocket pieces to lower their grades? It’s a sick concept. 

.. a few generations, prob takes bout 100 years to get normal wear po-01 coins....

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VKurtB

VKurtB

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On 1/16/2022 at 9:58 PM, Coinbuf said:

Don't know I'm not a fan.

I know her literacy level was fairly low, judging from her website posts. But she knew to  lick the armpits of the überwealthy client base. 

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tj96

tj96

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On 1/16/2022 at 10:56 PM, VKurtB said:

So how many “workers” do you imagine are out there carrying Morgans as pocket pieces to lower their grades? It’s a sick concept. 

I bet you love the guys who collect only holed coins.  xD

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Coinbuf

Coinbuf

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On 1/16/2022 at 9:01 PM, VKurtB said:

I know her literacy level was fairly low, judging from her website posts. But she knew to  lick the armpits of the überwealthy client base. 

Sounds like your more of a fan than you give yourself credit for.

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Oldhoopster

Oldhoopster

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On 1/16/2022 at 10:56 PM, VKurtB said:

So how many “workers” do you imagine are out there carrying Morgans as pocket pieces to lower their grades? It’s a sick concept. 

No.  Rock tumblers in the back room.  Much faster.  Then carry them around with other dirty coins for the aged look.

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Henri Charriere

Henri Charriere

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On 1/16/2022 at 10:58 PM, zadok said:

.. a few generations, prob takes bout 100 years to get normal wear po-01 coins....

Nah! I used my trusty Brillo pad and let's just say I expedited the process. (I won't disclose what two fair/good coins I destroyed) but the scheme backfired. I obliterated every recognizable feature and shot myself in the foot: they were rejected outright for not having dates. They were not at all impressed with my before and after pix. I still got 'em rumbling around in some drawer.

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Hoghead515

Hoghead515

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On 1/17/2022 at 9:00 AM, Quintus Arrius said:

This thread is so satisfying, I can skip breakfast now.  :roflmao:

I never knew it was gonna come this far. Lol. Im glad it did. I enjoy when everyone comes together and has discussions like this. I learn a whole lot and I enjoy talking to everyone. 

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Conder101

Conder101

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On 1/16/2022 at 9:37 PM, Hoghead515 said:

. Espically with the bean on it. 

Would probably be worth more if it was known to have been sent to CAC and DIDN'T bean.  The bean means it is solid for the grade or high end for the grade.  If it didn't bean then it is LOW end for the PO-01 grade and since the goal is to get the lowest grade a bean reject would be the lower grade coin and so worth more.

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Hoghead515

Hoghead515

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On 1/18/2022 at 12:49 PM, Conder101 said:

Would probably be worth more if it was known to have been sent to CAC and DIDN'T bean.  The bean means it is solid for the grade or high end for the grade.  If it didn't bean then it is LOW end for the PO-01 grade and since the goal is to get the lowest grade a bean reject would be the lower grade coin and so worth more.

Is there ways to know if a coin has been sent to CAC and didnt get a bean? 

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zadok

zadok

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On 1/18/2022 at 12:49 PM, Conder101 said:

Would probably be worth more if it was known to have been sent to CAC and DIDN'T bean.  The bean means it is solid for the grade or high end for the grade.  If it didn't bean then it is LOW end for the PO-01 grade and since the goal is to get the lowest grade a bean reject would be the lower grade coin and so worth more.

...possibly but most of the low ball collectors i know prefer po-1 coins with bean over po-1 coins without...their goal is to obtain the best problem free original po-1 they can find, border line problem coins r avoided if possible or only obtained until they can find a "better" po-1 coin....presentation is still a priority...

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Coinbuf

Coinbuf

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On 1/18/2022 at 2:22 PM, Hoghead515 said:

Is there ways to know if a coin has been sent to CAC and didnt get a bean? 

No, CAC does not publish data on the coins that fail.   If they did those coins values would plumet overnight and the market would be a mess.

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