This Coin Blew The Doors Off Of The Place. 1 1

[Fenntucky Mike]

Itally 500 lire, 1967-R. PCGS MS-66.

There were several toned coins in a recent auction but from what I saw this one out preformed them all. Care to take a guess as to the final price plus BP? I'll post the final price tomorrow or Sunday, no searching. 

[Henri Charriere]

[Let's see now... Italian lira and British Petroleum. Hmm. I know someone withdrew the latest €500 notes from circulation, but where? What's a Lira worth today? What was it worth back in '67?  Has it since been devalued? You got me good, F' Mike. That and that guy waving that finger at me!   How about USD 737.37 + the usual, let's make that 20%. I know someone is having a hearty guffaw at my expense!]  

Edited March 1 by Henri Charriere
Die polishing.

[Coinbuf]

No clue Mike as I don't collect in this area, but I'm sure that the color added quite a bit even tho its on the rev.

[Fenntucky Mike]

On 3/1/2024 at 6:14 PM, Henri Charriere said:

[Let's see now... Italian lira and British Petroleum. Hmm. I know someone withdrew the latest €500 notes from circulation, but where? What's a Lira worth today? What was it worth back in '67?  Has it since been devalued? You got me good, F' Mike. That and that guy waving that finger at me!   How about USD 737.37 + the usual, let's make that 20%. I know someone is having a hearty guffaw at my expense!]  

On 3/1/2024 at 6:17 PM, Coinbuf said:

No clue Mike as I don't collect in this area, but I'm sure that the color added quite a bit even tho its on the rev.

I have to assume that the color was the driving factor in the price.

Auction estimate was $40-$60. You can pick up a raw example, no toning, in the same or better condition for $20-$30 USD. A blast white NGC MS65 can be had for under $60 no problem. I'll reveal the final price tomorrow.

[RWB]

Hmmm....$52.50 + commission

[Fenntucky Mike]

For a comparison, what would a 1964 MS66 Kennedy half dollar go for with similar color? Or any other similar coin from any country?

[Coinbuf]

"what would a 1964 MS66 Kennedy half dollar go for with similar color"  still way out of my collecting knowledge, but I'm going to say around $450.

[GoldFinger1969]

FYI, as I recall, the lira exchange rate to the dollar was about 600 to 700 in the 1960's and 1970's.  So this was a small denomination coin.

[Fenntucky Mike]

Including the BP the coin sold for $840, with taxes and shipping the total cost would be close to $900. 

This coin had nice subtle toning on one side, I bid on it myself, but even still my jaw hit the floor when I saw the final price. Below is the PCGS True View image, I usually don't like the look of TV images and this is no exception.

[Coinbuf]

Toner lovers are a crazy bunch of collectors, and many are not afraid to spend some major cash if they like the tone.   I would not be surprised at all if this was a Morgan dollar, but from what little I follow of the world coin market that does seem like a remarkable price.

[Fenntucky Mike]

On 3/3/2024 at 10:48 AM, Coinbuf said:

Toner lovers are a crazy bunch of collectors, and many are not afraid to spend some major cash if they like the tone.   I would not be surprised at all if this was a Morgan dollar, but from what little I follow of the world coin market that does seem like a remarkable price.

I was shocked. I've never seen a common world coin like this sell for such a large premium based on the toning. I guess the rainbow colors landed a pot of gold for the seller.

[zadok]

On 3/3/2024 at 11:41 AM, Fenntucky Mike said:

I was shocked. I've never seen a common world coin like this sell for such a large premium based on the toning. I guess the rainbow colors landed a pot of gold for the seller.

...true, a significant premium n as u suspect the toning was a major contributor...but this coin is also very difficult to find with unblemished fields, the wide open spaces usually show every little mark, this is an exceptional example...plus there has been an increased interest in early 20th century italian coins lately....

[Fenntucky Mike]

On 3/3/2024 at 12:03 PM, zadok said:

...true, a significant premium n as u suspect the toning was a major contributor...but this coin is also very difficult to find with unblemished fields, the wide open spaces usually show every little mark, this is an exceptional example..

Yes, but they are out there. I'd say the pre '68 coins are difficultish to find in acceptable condition, the supply is starting to dry up though. The mint set coins are readily available for the most part.

On 3/3/2024 at 12:03 PM, zadok said:

..plus there has been an increased interest in early 20th century italian coins lately....

I know and it's killing me. 

[Henri Charriere]

🐓:  I can't believe a self-described rank amateur like you came closest to the Actual Retail Price!  You never even knew these existed!  How did you do it?

Q.A.  Easy.  Read the Topic. When you say "blew the doors off the place," you're suggesting a truly outrageous gavel price, and that's exactly what I did.

***

[Auction records maintained by one TPGS lists a staggering $2,880 for a gold rooster I do not believe I paid more than $700 for at a lesser grade. Anomalies do occur from time to time at auctions for various reasons, but your example is exceptional for what you say is a common coin.]

Edited March 3 by Henri Charriere
Die polishing.

[Angelo43]

I have a date run of these and many raw pieces as I have been collecting these since I was in high school( I'm 69)  Many of them are going to NGC now    Just need one to grade

[Henri Charriere]

On 3/6/2024 at 8:11 PM, Angelo43 said:

I have a date run of these and many raw pieces as I have been collecting these since I was in high school( I'm 69)  Many of them are going to NGC now    Just need one to grade

I am going to take the liberty of assuming you are referring to the Italian 500 lire.  🐓 

[Fenntucky Mike]

On 3/6/2024 at 8:11 PM, Angelo43 said:

I have a date run of these and many raw pieces as I have been collecting these since I was in high school( I'm 69)  Many of them are going to NGC now    Just need one to grade

I'm working on a short run of the circulating coins, '58-'67, in BU blast white and one toned set. I had asperations of acquiring the coin in the OP but fell flat on my face instead.  

Good luck with your submission, feel free to post any of your 500L coins here if you like. 

[Jason Abshier]

@Fenntucky Mike I wouldn’t be surprised if the bid price went up over $500-$600 ? If I’m close ???…. I do a lot of bidding on auctions as much as I can for coins I want in my collection… It’s no shocker to me when some yuppie with fat pockets who comes by at last minute and bid recklessly high !!! to get a coin that sparkles in their eyes… next you see them trying to flip it on EBay or heritage auctions for much higher price than they got it for sadly it sits there collecting dust … I see it all time , some coins I’ve lost out in auctions to a high bidder a month later see it up for sale on ebay with an outrageous price !!! Nobody buying it … I keep track of cert numbers even on coins I’ve lost see them later on somewhere else up for sale or up for bids again 

[Fenntucky Mike]

On 3/7/2024 at 6:47 PM, Jason Abshier said:

@Fenntucky Mike I wouldn’t be surprised if the bid price went up over $500-$600 ? If I’m close ???…. I do a lot of bidding on auctions as much as I can for coins I want in my collection… It’s no shocker to me when some yuppie with fat pockets who comes by at last minute and bid recklessly high !!! to get a coin that sparkles in their eyes…

Sold for $840 with the BP.

On 3/7/2024 at 6:47 PM, Jason Abshier said:

next you see them trying to flip it on EBay or heritage auctions for much higher price than they got it for sadly it sits there collecting dust … I see it all time , some coins I’ve lost out in auctions to a high bidder a month later see it up for sale on ebay with an outrageous price !!! Nobody buying it … I keep track of cert numbers even on coins I’ve lost see them later on somewhere else up for sale or up for bids again 

I see this all the time as well, a coin I missed out on at auction winds up on ebay and sits there. Sometimes a pigeon strolls along and pays the outrageous price but usually they just sit there for years.