Standing Liberty Mysteries

[MikeKing]

Are Standing Liberties accelerating in value at an amazingly high degree? Or am I missing something?

 

The current Heritage auction Lot # 6240 1919 25C MS68 PCGS, a $7,000.00 coin is now bid up to $ 34,000.00 !!!!

 

Why?

 

This coin didn't sell at two previous auctions: Lot # 264 Bowers and Merena Auction # 11135 July 2002, and Lot # 6745 Heritage 2003 Feb Long Beach Sale.

 

I am certain they are the same coin (only 2 have been certified MS68 by PCGS), because under the Right wing of the Eagle on the Reverse, there are distinct scratches or scuff marks, more notable on the photo taken by Bowers and Merena.

 

Of note, the only other coin certified at MS68 is an NGC coin which auctioned for $6,440.00 at the Heritage 2000 October Long Beach Sale. An absolutely stunning piece with toning very similar to the coin currently being auctioned by Heritage.

 

How then, does a 1919 25C MS67 PCGS, a $1,700.00 coin, sell for $8,050.00 (Lot 7896 2002 July NY Signature Sale), and a 1919 25C MS67 Full Head sell for the same price (2000 FUN Signature Sale) only two years earlier?

 

Is the 1919 MS68 currently on auction, with markings below the R wing, worthy of an MS68 designation, nevermind a $30,000+ price tag?

 

What don't I see?

(attached is a picture of the Bowers and Merena Reverse and the following thread has the picture of the Reverse of the coin currently for auction at Heritage)

[MikeKing]

Attachment of the reverse of the Heritage coin

[truthteller]

I think SLQ's are a very underated series. However, I truly believe that a good percentage of FH coins and better dates have been doctored at one point. I have heard just too many stories of dealers using dental tools and microdrills to reengrave the head and drill a hole in the ear to get FH designation. So caution is the word for MS67 or higher or FH designations, for either service.

 

TRUTH

[darktone]

Hi Mike, I believe some sellers bid up rare coins to extremely high levels to set a market value so next time the coin is sold everyone will use the last auction price as a reference and the seller could make some big money. I am not saying that is whats hapening here or it could just be two guy's that want it for a registry set. mike

[MikeKing]

I appreciate your replies, and they open up more possibilities to the question 'why'. But I'm still mystefied by this apx 7K coin shooting up to 34,000.00.

 

I was going to bid on this coin before it's price escalated, but when I examined it the best I could, not being able to see it in person, I felt it wasn't really deserving of an MS68 level (the marks below the wing better seen in the coin when it was up for auction thru Bowers and Merena).

 

I wish I knew what was going on.