Coin Auctions and dealers

[TomGoodheart]

Like perhaps most here, I tend to follow coin sales whether through auction or dealer. And occasionally I've noticed an odd phenomenon and wondered if anyone else had seen it too. It's where a coin appears to be constantly 'doing the rounds'.

In other words, it never seems to find an actual buyer (collector) but instead just moves from one auction (and presumably dealer) to another. Primarily in the US market, though I'm sure we've all seen the odd coin move from one dealer's list to another in the UK, these seem to eventually find buyers.

I suspect it's basically a sign the coin was vastly overpriced in the first place! Anyone else notice this? For example, the following coin has as far as I can work out appeared in the following auctions (and in a variety of hues from grey to rainbow coloured, depending on photography!):.

Nov 2009 Ponterio 151 Lot #9375 (£785 $1150),

May 2008 Goldberg Auction 47 ($750),

Sept 2007 ebay ($466),

Sept 2006 Goldberg PreLongbeach Lot 103798 (£560 $950).

There may be other appearances but I just gave up in confusion!

Edited July 17, 2010 by TomGoodheart