Am I Missing Something Here?

[jaggy]

There is a 1887 withdrawn type (shield) sixpence currently being auctioned at Heritage.

The bids have reached $155

I see no JEB on the truncation, no R over I in Victoria and nothing else to justify a price at this level. Am I missing something here?

http://coins.ha.com/c/item.zx?saleNo=231344&lotNo=61077&lotIdNo=21001#Photo

[Paulus]

There is a 1887 withdrawn type (shield) sixpence currently being auctioned at Heritage.

The bids have reached $155

I see no JEB on the truncation, no R over I in Victoria and nothing else to justify a price at this level. Am I missing something here?

http://coins.ha.com/c/item.zx?saleNo=231344&lotNo=61077&lotIdNo=21001#Photo

Bit weird, they state a catalogue value of $28 in UNC and then put an upper estimate of $150 on it!

[azda]

Never bidded with Heritage and never will due to the very reason you've pointed out. People seem to bid like fools are the Meer words "Heritage auction"

Stuart submitted 2 and they declined them because they were'nt value at $5000, so you can see the type of clients they're looking for

Edited October 30, 2013 by azda

[Peter]

Maybe a silver plated half sovereign.

Seriously though, who looks to Krause for valuing UK coins?

You cannot buy an Unc silver US coin of this age for less money (also there is a sizeable jump for being MS65)

Therefore a MS65 coin will attract a premium for the must have the finest boys.

BTW nice toning.

[NRP]

There is a 1887 withdrawn type (shield) sixpence currently being auctioned at Heritage.

The bids have reached $155

I see no JEB on the truncation, no R over I in Victoria and nothing else to justify a price at this level. Am I missing something here?

http://coins.ha.com/c/item.zx?saleNo=231344&lotNo=61077&lotIdNo=21001#Photo

It is simply because of that number on the slab "MS 65" . Now that is actually a very high grade but on an 1887 6d? If you slabbed all the 1887 6ds out there available to collectors I wonder how many would make that grade!! My guess would be a lot because it is a common coin !!!

[jaggy]

I'm not even convinced on the MS65 grade. There are a few marks on Viccie's cheek which, IMHO, would bring the grade down a notch.

But when I see coins like this going at prices like this I do wonder if others are seeing something that I am missing.

[Peter]

It is only NGC as well.

[Accumulator]

I don't know sixpences, so have no comment on the price. I would vouch for Heritage as an organisation though. The quality of the photos, particularly taken through slabs, is unbeaten by anyone else (you have to join to see the hi-res version) and the customer service is excellent.

[Coinery]

Just as a point of interest, one of the coins I wanted to send to Heritage was an "NGC" MS65 Charles II Farthing (double struck), the reason I opted for them!

Hey ho!

[jaggy]

I don't know sixpences, so have no comment on the price. I would vouch for Heritage as an organisation though. The quality of the photos, particularly taken through slabs, is unbeaten by anyone else (you have to join to see the hi-res version) and the customer service is excellent.

I am not criticising Heritage in any way. I have bought from them before and agree with your comments. My comments are to do with this particular sixpence. My valuation was $60 with a willingness to go to $70. Even allowing for a premium for the grading and slabbing, I don't understand why someone would pay $155. That is why I was wondering if there was some esoteric detail that I might be missing in the coin.

[Peckris]

I don't know sixpences, so have no comment on the price. I would vouch for Heritage as an organisation though. The quality of the photos, particularly taken through slabs, is unbeaten by anyone else (you have to join to see the hi-res version) and the customer service is excellent.

I am not criticising Heritage in any way. I have bought from them before and agree with your comments. My comments are to do with this particular sixpence. My valuation was $60 with a willingness to go to $70. Even allowing for a premium for the grading and slabbing, I don't understand why someone would pay $155. That is why I was wondering if there was some esoteric detail that I might be missing in the coin.

What nationalit(ies) are the main customers for Heritage?

[jaggy]

I don't know sixpences, so have no comment on the price. I would vouch for Heritage as an organisation though. The quality of the photos, particularly taken through slabs, is unbeaten by anyone else (you have to join to see the hi-res version) and the customer service is excellent.

I am not criticising Heritage in any way. I have bought from them before and agree with your comments. My comments are to do with this particular sixpence. My valuation was $60 with a willingness to go to $70. Even allowing for a premium for the grading and slabbing, I don't understand why someone would pay $155. That is why I was wondering if there was some esoteric detail that I might be missing in the coin.

What nationalit(ies) are the main customers for Heritage?

American I should imagine

[Paulus]

I don't know sixpences, so have no comment on the price. I would vouch for Heritage as an organisation though. The quality of the photos, particularly taken through slabs, is unbeaten by anyone else (you have to join to see the hi-res version) and the customer service is excellent.

I am not criticising Heritage in any way. I have bought from them before and agree with your comments. My comments are to do with this particular sixpence. My valuation was $60 with a willingness to go to $70. Even allowing for a premium for the grading and slabbing, I don't understand why someone would pay $155. That is why I was wondering if there was some esoteric detail that I might be missing in the coin.

What nationalit(ies) are the main customers for Heritage?

American I should imagine

That would likely score 90+ on Pointless! Followed by the Japanese?

[Peckris]

I don't know sixpences, so have no comment on the price. I would vouch for Heritage as an organisation though. The quality of the photos, particularly taken through slabs, is unbeaten by anyone else (you have to join to see the hi-res version) and the customer service is excellent.

I am not criticising Heritage in any way. I have bought from them before and agree with your comments. My comments are to do with this particular sixpence. My valuation was $60 with a willingness to go to $70. Even allowing for a premium for the grading and slabbing, I don't understand why someone would pay $155. That is why I was wondering if there was some esoteric detail that I might be missing in the coin.

What nationalit(ies) are the main customers for Heritage?

American I should imagine

Enough said. That alone would account for the über-high-priced coin in a slab...

[VickySilver]

One point I hinted at with regards to Heritage before, and is something of a secret I probably I ought not to be sharing is this:

there is indeed a frenzy over grading and "condition rarity". The interesting thing is that a simple 1883 shilling in MS66 at PCGS may have a population that is 1 or 2 as would, say, an 1889 small head Jubilee shilling. So conditional rarity would apparently (sic) be the same and both might go for very high similar amounts. The former not seemingly such a bargain but a price that would not necessarily be objectionable for the later bit.

This in fact did happen on several occasions with the Kairos (??I think??) collection where similar such exampled coins sold for near the same amount!

And which would you rather have? I actually did make some purchases of much scarcer coins on this principle

[Rob]

Know your stuff and you can't go wrong. Believe the hype and you may well end up s**t creek without a paddle.

[jaggy]

One point I hinted at with regards to Heritage before, and is something of a secret I probably I ought not to be sharing is this:

there is indeed a frenzy over grading and "condition rarity". The interesting thing is that a simple 1883 shilling in MS66 at PCGS may have a population that is 1 or 2 as would, say, an 1889 small head Jubilee shilling. So conditional rarity would apparently (sic) be the same and both might go for very high similar amounts. The former not seemingly such a bargain but a price that would not necessarily be objectionable for the later bit.

This in fact did happen on several occasions with the Kairos (??I think??) collection where similar such exampled coins sold for near the same amount!

And which would you rather have? I actually did make some purchases of much scarcer coins on this principle

I have bought from Heritage and am generally please with the deals I got, the condition of the coins and the overall service. But I refuse to get caught up in the bidding frenzy. I make my own decision on what I think a coin is worth. I started this thread because of one particular coin which is not at all rare (I already own 5 of them plus the proof) and which, in this case and in my opinion, is over-graded.

You have to wonder, do some of these bidders know anything about the coins they are bidding on?

[VickySilver]

Yes, and who is bidding (and underbidding thereby driving prices)? Some of the prices have fetched lunatic levels IMO on occasion. Jag, you have FIVE in addition to the proof? Yikes, maybe that makes me feel a bit better about some borderline OCD tendencies that I might have...

Does anybody remember the child's game: Duck, duck, goose? I think that the high prices and bidding might bring on a soporific state and may allow relative bargains to slip on occasion as young Rob says...

Edited November 1, 2013 by VickySilver

[jaggy]

Yes, and who is bidding (and underbidding thereby driving prices)? Some of the prices have fetched lunatic levels IMO on occasion. Jag, you have FIVE in addition to the proof? Yikes, maybe that makes me feel a bit better about some borderline OCD tendencies that I might have...

Does anybody remember the child's game: Duck, duck, goose? I think that the high prices and bidding might bring on a soporific state and may allow relative bargains to slip on occasion as young Rob says...

I have no problem buying multiple copies of the same coin if it is a nice coin and the price is right. Anyway that it my excuse and I am sticking to it ….. honest

But I think you are right. Heritage bidders often seem to focus on condition rather than rarity and pay a hefty premium for that. I did buy a couple of coins at Heritage yesterday .. a 1787 sixpence (with Hearts) and a 1757 shilling. Okay fairly common coins and the shilling is about VF at best. But that lot was $20 cheaper than the 1887 sixpence went for and the 1787 sixpence is a nice example at AU58.

[HistoricCoinage]

I have no problem buying multiple copies of the same coin if it is a nice coin and the price is right. Anyway that it my excuse and I am sticking to it ….. honest

Might want to rethink your wording!

[jaggy]

I have no problem buying multiple copies of the same coin if it is a nice coin and the price is right. Anyway that it my excuse and I am sticking to it ….. honest

Might want to rethink your wording!

LOL … good point …. "multiple examples"

[azda]

One point I hinted at with regards to Heritage before, and is something of a secret I probably I ought not to be sharing is this:

there is indeed a frenzy over grading and "condition rarity". The interesting thing is that a simple 1883 shilling in MS66 at PCGS may have a population that is 1 or 2 as would, say, an 1889 small head Jubilee shilling. So conditional rarity would apparently (sic) be the same and both might go for very high similar amounts. The former not seemingly such a bargain but a price that would not necessarily be objectionable for the later bit.

This in fact did happen on several occasions with the Kairos (??I think??) collection where similar such exampled coins sold for near the same amount!

And which would you rather have? I actually did make some purchases of much scarcer coins on this principle

Problem being Vicky, is that you have to submit $5000 worth of coins at least, so having 1 coin in such a grade is as much use as an ashtray on a motorbike

[VickySilver]

True is that. They are so enormous (Heritage) that I imagine they scarcely want to be bothered by our pedestrian bits! LOL!

Have you ever looked at their catalogues of Movie star bits & memoribilia ? Ouch!!!!! Or Hermes handbags on offer at a mere 45k USD!!!

They might be a legitimate option as unpatriotic as it may seem for a 1933 penny or such...

[azda]

Lol, Hermes bags at 45k. They have a store in the Centre of Munich, might Pop in and pick up one of the cheaper options and ship it over

[Coinery]

MyHermes in the UK is just the best small/medium package option ever! They even collect from your house at less than half the PO rate!

Used them 4 times...really, really, impressed! And so grateful not to be a slave to the PO who change their parcel measurements and prices each year to capitalise on the eBay market!