Dueling Bids 1 1

[Henri Charriere]

I seldom review auction offerings, but this one by GreatCollections Coin & Currency caught my eye:

1907 Saint-Gaudens Gold Double Eagle, MCMVII, High Relief, Wire Edge, PCGS-64, and

1950 Franklin Half Dollar,, NGC-PF-68.

So what's the attraction? Simply that the Current Bids for both, frozen at a moment in time--right now, are identical:  $17,055, with 51 Bids recorded for the former, and 25 Bids for the latter.

There was something else being offered that caught my eye:  Printing Plates from the American Banknote Company Archives.  For those unacquainted with the A.B.C., it printed a wide variety of banknotes for other countries and its name could be seen on the various denominations it produced. I believe I am probably the only member who can claim to have been to the ancient, forbidding, fortress-like structure which once housed the concern because any other member would have to explain what he was doing one one of the most dangerous streets of the South Bronx.  😉 

[Sandon]

   If I could afford either of these coins, I'd pick the "High Relief" without hesitation.  No proof 1950 Franklin half dollar could possibly be worth $17,000 or more to me!  I'm quite happy with the one I've got graded PCGS 64, which as I recall cost around $400.  

[GoldFinger1969]

On 10/7/2022 at 7:00 PM, Quintus Arrius said:

I seldom review auction offerings, but this one by GreatCollections Coin & Currency caught my eye:  1907 Saint-Gaudens Gold Double Eagle, MCMVII, High Relief, Wire Edge, PCGS-64, and 1950 Franklin Half Dollar,, NGC-PF-68. So what's the attraction? Simply that the Current Bids for both, frozen at a moment in time--right now, are identical:  $17,055, with 51 Bids recorded for the former, and 25 Bids for the latter.

Well, the MCMVII has now pulled ahead by $20,500 to $17,055.  

Obviously, being a Saint fan, I would bid on the MCMVII if I had the $$$.  But if I was given the money to buy EITHER and assuming they finished at the same price a bit higher like when locked at the $17K level....and I was indifferent between the two except as to future value.....I would think the Saint would have less downside risk. 

The High Relief probably has more deep-pocket buyers and has been tested over a longer period of time.  At a minimum, it's got the value of 1 ounce of gold which admittedly is probably only about 10% or so of the value of the coin.  But the numismatic premium on the Franklin is huge, with the face and metal value less than 0.1% of the market cost of the coin.

My understanding was that Franklin Half Dollars had really taken it on the chin from about 2013-2020, along with most U.S.-centered coins, as sellers from decades ago simply swamped the lack of new collectors .  Not familiar with the series, just a couple of threads here and at CU, so I'll let an expert chime in.

Edited October 8, 2022 by GoldFinger1969

[numisport]

I cannot comment on the Saint without knowledge of the finer known pieces. What we see is the holder up for bid in the case of the 1950 Franklin, not the eye appeal of a nice proof coin. Proof coins should not be lustrous, they should have deep mirrors as intended. For about 3 or 4k you could own a beautiful Pf 65 Cameo black and white monster coin that one would be proud to own. 

There were many problems associated with striking proof coins for the first time since 1942. The Pf 68 coin offered appears to be struck on a planchet that was not polished among other things. 

Edited October 9, 2022 by numisport

[Henri Charriere]

UPDATE:  What I call the "High-Wire" Saint is now up to $24,012, with 62 bids; the Franklin proof is up to $18,500, with 30 bids.

Though I have to maintain the guise of neutrality and claim I am partial to neither, it will be interesting to see how this plays out.

🐓:  [He's not being truthful, guys.  Last nite he told me if he'd had his druthers, he'd put his money on the Saint, hands down. Rickey never lies!]

[GoldFinger1969]

FWIW, another MCMVII HR MS-64 is not getting any bids at the $30,000 asking price.

[Henri Charriere]

Classic wait-and-see "High-Wire" act.  I cannot see it happening, but if the bids on "my" Saint were to surpass those of "yours," your Saint would be sold right quick.  Then again, maybe not.  It would still have to pass the in-person "sniff" test of VKurtB.  🤔