Plastic Fever? Am I Missing Something?

[brg5658]

I was watching this coin last night, just for the fun of it (I already have two examples in my collection). I thought it might make it to $100 or a bit more...but, wow! I don't know if I'm missing something here, but it surprised me to see such a common coin go for such silly money. Whoever is the "lucky" new winner paid about 10 x (or more) it's true worth outside the plastic.

Please, someone correct me here, and tell me I'm missing some uber-rare variety?

For posterity, I also took a screen shot of the madness...

Sorry for the "eBay complaint thread" -- but I thought maybe I was genuinely missing something on this coin?

-Brandon

[Rob]

I believe you failed to spot two men with a large void between their ears. That's stupid. However, I have a huge supply if the underbidder wants another example.

[brg5658]

I believe you failed to spot two men with a large void between their ears. That's stupid. However, I have a huge supply if the underbidder wants another example.

Oh, that variety is still common it seems...

[TomGoodheart]

PL 66? Is this a new grade? Lemme guess ... Proof Like? And if so .. what does that mean, exactly ...

All I will say is that I don't think it would have made that on ebay.co.uk

Edit. I'm tempted to follow suit. I shall start my own grading. Every coin will be placed in a plastic 2"x2" flip and I shall personally write the grade in Sharpie in the outside.. grades will range from WL10 (Washer Like) to CL42 (because it's a Coin, like ..)

Particularly nice ones will have a chocolate coffee bean sellotaped to them.

And the really dire ones will be attached to a Wings CD using superglue.

Charges will be reasonable.

Edited February 3, 2014 by TomGoodheart

[brg5658]

PL 66? Is this a new grade? Lemme guess ... Proof Like? And if so .. what does that mean, exactly ...

Yes, PL means prooflike. I don't think you can blame the TPG for that particular oddity though. Krause lists this crown in two varieties -- the proof, and the prooflike. I believe they call it that because these were issued in special packaging and not for general circulation. It seems it would have made more sense to use the more common "specimen" designation or simply the "MS" designation. But, it is what it is. Basically it just means that the coin is not the proof version. With a mintage of more than 2 million pieces, and almost all of them saved in pristine condition, I can't fathom why this would sell for $460+, other than the reason Rob gave.

PCGS has graded a total of 51 of these, and this PL66 (along with one other) are the highest grades given. I'm going to guess that two people really thought this was an exceptional coin. Given the abrasion on poor George's cheek, I dare say there are much nicer ones out there...even if not blessed by PCGS.

[rpeddie]

1919 sixpence ms-66

this sixpence also gave me a shock last night (albeit it was me that made the price go from $96 to $450 in the first place )

Glad i did not get it in the end i would not be a happy chap paying $450 for that even though it was ms66 (i enjoy my slabbed british )

also have another recently that was shocking

1935 half crown ms-66

going from their website(assuming i am using it right) this went for ~$650 or so

quite glad i decided the '35s i have at the moment are better and used the advice given here that buy the coin not the grade(a few too many scratches for a ms-66)

maybe a coin collector or 2 won the lottery and just dgad about the prices they pay?

[Nick]

1919 sixpence ms-66

this sixpence also gave me a shock last night (albeit it was me that made the price go from $96 to $450 in the first place )

Glad i did not get it in the end i would not be a happy chap paying $450 for that even though it was ms66 (i enjoy my slabbed british )

also have another recently that was shocking

1935 half crown ms-66

going from their website(assuming i am using it right) this went for ~$650 or so

quite glad i decided the '35s i have at the moment are better and used the advice given here that buy the coin not the grade(a few too many scratches for a ms-66)

maybe a coin collector or 2 won the lottery and just dgad about the prices they pay?

I'd worry about that 1919 sixpence - "Country of Manufacture": Mexico - Yikes! It looks nice enough but £300 over the top.

The 1935 halfcrown reverse is absolutely stunning, but the obverse has some bag marks and not enough eye appeal for it to be worth any more than $100.

[jaggy]

1919 sixpence ms-66

this sixpence also gave me a shock last night (albeit it was me that made the price go from $96 to $450 in the first place )

Glad i did not get it in the end i would not be a happy chap paying $450 for that even though it was ms66 (i enjoy my slabbed british )

also have another recently that was shocking

1935 half crown ms-66

going from their website(assuming i am using it right) this went for ~$650 or so

quite glad i decided the '35s i have at the moment are better and used the advice given here that buy the coin not the grade(a few too many scratches for a ms-66)

maybe a coin collector or 2 won the lottery and just dgad about the prices they pay?

I have a 1919 sixpence in EF. Cost me £4 but I will accept £100 if anyone is feeling generous.

[Sword]

There is a Proof 66 PCGS 1927 crown in the next W&W auction. Estimate of £800!!

[shagreen]

there is a alternative explanation - could it be that someone has thought its a VIP strike of this relatively common crown?

For reference please check Mark Rassmussen's website :

http://rascoins.com/archive.cfm?message=Please%20enter%20the%20search%20criteria

type in year 1951 and key word crown you will see a couple of lovely examples.

Now I dont think its at all likely that the PF66 under discussion is one but it may just be

[Peckris]

PL 66? Is this a new grade? Lemme guess ... Proof Like? And if so .. what does that mean, exactly ...

Yes, PL means prooflike. I don't think you can blame the TPG for that particular oddity though. Krause lists this crown in two varieties -- the proof, and the prooflike. I believe they call it that because these were issued in special packaging and not for general circulation. It seems it would have made more sense to use the more common "specimen" designation or simply the "MS" designation. But, it is what it is. Basically it just means that the coin is not the proof version. With a mintage of more than 2 million pieces, and almost all of them saved in pristine condition, I can't fathom why this would sell for $460+, other than the reason Rob gave.

PCGS has graded a total of 51 of these, and this PL66 (along with one other) are the highest grades given. I'm going to guess that two people really thought this was an exceptional coin. Given the abrasion on poor George's cheek, I dare say there are much nicer ones out there...even if not blessed by PCGS.

The point is, the difference between the proof (in the proof set) and the 'proof like' strikings at the Festival of Britain, are indiscernible, and the actual proofs are not rare anyway.

[Peter]

1919 sixpence ms-66

this sixpence also gave me a shock last night (albeit it was me that made the price go from $96 to $450 in the first place )

Glad i did not get it in the end i would not be a happy chap paying $450 for that even though it was ms66 (i enjoy my slabbed british )

also have another recently that was shocking

1935 half crown ms-66

going from their website(assuming i am using it right) this went for ~$650 or so

quite glad i decided the '35s i have at the moment are better and used the advice given here that buy the coin not the grade(a few too many scratches for a ms-66)

maybe a coin collector or 2 won the lottery and just dgad about the prices they pay?

1919 sixpence ms-66

this sixpence also gave me a shock last night (albeit it was me that made the price go from $96 to $450 in the first place )

Glad i did not get it in the end i would not be a happy chap paying $450 for that even though it was ms66 (i enjoy my slabbed british )

also have another recently that was shocking

1935 half crown ms-66

going from their website(assuming i am using it right) this went for ~$650 or so

quite glad i decided the '35s i have at the moment are better and used the advice given here that buy the coin not the grade(a few too many scratches for a ms-66)

maybe a coin collector or 2 won the lottery and just dgad about the prices they pay?

Lets not beat about the bush

The 6d is £50 BU

The 2/6- is £100 BU

These are max prices in CCGB 2014

Twats

[Rob]

Whilst I think this is an example of silly bidding given the universal availability of the type, it is still important that you don't take the prices in any reference too literally. CCGB, Spink, CMV etc are all approximations to the truth. A factor of two with reference to the prices contained within the various tomes is not unreasonable. Most collectors are willing to pay a little bit extra for a coin they really want, and in any case, a yearly price guide is inevitably lagging the market. All prices need to be put into the context of the buyer. I know I'm not the only person on this forum to have paid multiples of book values for something I wanted for whatever reason.

[Peter]

But why would anyone want to pay these prices for common coins which are available 24/7.

Hammered it is different as we all know.

These idiots are buying the plastic.

[Rob]

Maybe they are in a rush to complete their registry set? Who knows? We don't know the reason for the bidding pattern. Maybe they knew each other and one was determined to stop the other buying it for personal reasons. The prices were way too high even for the label, so I'm sure some other factor was involved.

[azda]

Another festival of Britain, this one is only $329 131109315616

Now we know who's pushing prices, so many idiot collectors who are basically buying into plastic

P.s, there's also $78 in import charges on this, i think the import charges alone makes the coin expensive

Edited February 4, 2014 by azda

[TomGoodheart]

I'm pretty sure I have one of those PL crowns that Dad picked up during the Festival. And I have to say that despite normally being a ethical sort of chap, if someone really wanted to pay me silly money for it, I doubt I'd complain!

eBay is just ... well, it's a world of its own really, isn't it? Perhaps we shouldn't be surprised at the occasional craziness.

[Gary1000]

But why would anyone want to pay these prices for common coins which are available 24/7.

Hammered it is different as we all know.

These idiots are buying the plastic.

It may be a common coin raw but the number slabbed will be limited so if you only buy slabs you are pretty limited and a high grade is going to cost.

[Paulus]

But why would anyone want to pay these prices for common coins which are available 24/7.

Hammered it is different as we all know.

These idiots are buying the plastic.

It may be a common coin raw but the number slabbed will be limited so if you only buy slabs you are pretty limited and a high grade is going to cost.

So some slab collectors are incapable of buying an raw UNC coin from a reputable dealer and getting it slabbed themselves? Or is the notion of buying a raw coin simply out of the question/incomprehensible to them?

[jaggy]

But why would anyone want to pay these prices for common coins which are available 24/7.

Hammered it is different as we all know.

These idiots are buying the plastic.

It may be a common coin raw but the number slabbed will be limited so if you only buy slabs you are pretty limited and a high grade is going to cost.

So some slab collectors are incapable of buying an raw UNC coin from a reputable dealer and getting it slabbed themselves? Or is the notion of buying a raw coin simply out of the question/incomprehensible to them?

From what I have seen on a couple of other forums, for some collectors, the notion of buying a raw coin is simply out of the question.

[brg5658]

Another festival of Britain, this one is only $329 131109315616

Now we know who's pushing prices, so many idiot collectors who are basically buying into plastic

P.s, there's also $78 in import charges on this, i think the import charges alone makes the coin expensive

That coin is the 2013 Birth of Prince George proof 5 pound. That coin cost $130 at issue, plus $30-40 for submission/grading. While I still don't think it's worth the $329 asking price, it's a far cry from $450 for a coin that can be had for $30. Also, that "import fees" part of eBay is a complete farce. The shipping in the US is free from that seller, and eBay is likely making a killing on these types of coins when they add this "import charge" to them. This (among other reasons) is why I never sell on eBay outside the 50 US states.

[Peckris]

Another festival of Britain, this one is only $329 131109315616

Now we know who's pushing prices, so many idiot collectors who are basically buying into plastic

P.s, there's also $78 in import charges on this, i think the import charges alone makes the coin expensive

That coin is the 2013 Birth of Prince George proof 5 pound. That coin cost $130 at issue, plus $30-40 for submission/grading. While I still don't think it's worth the $329 asking price, it's a far cry from $450 for a coin that can be had for $30. Also, that "import fees" part of eBay is a complete farce. The shipping in the US is free from that seller, and eBay is likely making a killing on these types of coins when they add this "import charge" to them. This (among other reasons) is why I never sell on eBay outside the 50 US states.

51, surely, or have we left? If we have, someone better tell Starbucks, McDonalds, and Subway

[jaggy]

Another festival of Britain, this one is only $329 131109315616

Now we know who's pushing prices, so many idiot collectors who are basically buying into plastic

P.s, there's also $78 in import charges on this, i think the import charges alone makes the coin expensive

That coin is the 2013 Birth of Prince George proof 5 pound. That coin cost $130 at issue, plus $30-40 for submission/grading. While I still don't think it's worth the $329 asking price, it's a far cry from $450 for a coin that can be had for $30. Also, that "import fees" part of eBay is a complete farce. The shipping in the US is free from that seller, and eBay is likely making a killing on these types of coins when they add this "import charge" to them. This (among other reasons) is why I never sell on eBay outside the 50 US states.

What is this 'import charge' you mention? I live in Arizona and never pay an import charge when I buy from DNW or London Coins.

[brg5658]

Another festival of Britain, this one is only $329 131109315616

Now we know who's pushing prices, so many idiot collectors who are basically buying into plastic

P.s, there's also $78 in import charges on this, i think the import charges alone makes the coin expensive

That coin is the 2013 Birth of Prince George proof 5 pound. That coin cost $130 at issue, plus $30-40 for submission/grading. While I still don't think it's worth the $329 asking price, it's a far cry from $450 for a coin that can be had for $30. Also, that "import fees" part of eBay is a complete farce. The shipping in the US is free from that seller, and eBay is likely making a killing on these types of coins when they add this "import charge" to them. This (among other reasons) is why I never sell on eBay outside the 50 US states.

51, surely, or have we left? If we have, someone better tell Starbucks, McDonalds, and Subway

I don't get whatever joke you're trying to make.

[brg5658]

Another festival of Britain, this one is only $329 131109315616

Now we know who's pushing prices, so many idiot collectors who are basically buying into plastic

P.s, there's also $78 in import charges on this, i think the import charges alone makes the coin expensive

That coin is the 2013 Birth of Prince George proof 5 pound. That coin cost $130 at issue, plus $30-40 for submission/grading. While I still don't think it's worth the $329 asking price, it's a far cry from $450 for a coin that can be had for $30. Also, that "import fees" part of eBay is a complete farce. The shipping in the US is free from that seller, and eBay is likely making a killing on these types of coins when they add this "import charge" to them. This (among other reasons) is why I never sell on eBay outside the 50 US states.

What is this 'import charge' you mention? I live in Arizona and never pay an import charge when I buy from DNW or London Coins.

IT's an eBay issue, not other venues. You would only see it if you were in a country other than the seller of the item and the seller has opted to use the "Global" shipping method on eBay. Essentially, it's yet another way eBay has found to skim money from buyers/sellers.