Wow! 1/4 Eagle auctions for $28,000!
 

Wow...check out this auction...

http://coins.ha.com/common/view_item...3&Lot_No=24411

Am I reading this right? If you scroll down a bit, there's a "Price Guide" table that shows PCGS MS-70 at $7,000.

And yet this coin is currently bid up to $24,700 + 15% buyers premium, for a total of $28,405.

What the....? Wow...this is why I don't mess with numismatics!

Sure is a pretty coin, though...

Re: Wow! 1/4 Eagle auctions for $28,000!
 

It's a half-ounce. That might be why? :sarc:

Re: Wow! 1/4 Eagle auctions for $28,000!
 

Notice that the reserve price has not been met. Some seller may be dreaming?

Re: Wow! 1/4 Eagle auctions for $28,000!
 

that coin has a PCGS population of 4 with none higher... so the bidders are probably registry-set collectors trying to put together a best-in-class set (which requires the top-graded coin for each year)... so effectively, people will pay almost anything for a highest-grade coin just for registry-set bragging rights... it's sheer madness.
:confused_ma:

Re: Wow! 1/4 Eagle auctions for $28,000!
 

Am I missing something in the info on the linked site? It states that the $28K+ reserve has not been met. That means to me that no bidder is willing to pay the price demanded. Again, is the seller dreaming? There is NO bid for $28k+

'cubed

Re: Wow! 1/4 Eagle auctions for $28,000!
 

well it's kind of hard to tell what a coin like that is really worth 'cubed... I'd say it's too high even by crazy top-end market standards.
but in any case, if the reserve isn't met by 10pm tomorrow then yes he's dreaming...

Re: Wow! 1/4 Eagle auctions for $28,000!
 

Melt and barter value is identicle to the bullion grades... :D

Re: Wow! 1/4 Eagle auctions for $28,000!
 

If you look closely, you can pick out a few tiny imperfections on the coin. By definition then, it is not a 70.

So really, people aren't buying a coin anymore. They are buying a slab grade with no regard to what is inside it. This is not the first time I've seen a 70 with visible blemishes. Biggest scam in numismatics, IMO.

Re: Wow! 1/4 Eagle auctions for $28,000!
 

I doubt that. :no_ma: It's probably some dust :yes:

Re: Wow! 1/4 Eagle auctions for $28,000!
 

I can get those in China for 50.00!!!:D

Re: Wow! 1/4 Eagle auctions for $28,000!
 

Look very, very carefully on the reverse between the letters "G" and "O" of "GOLD" and you will see a minor rim nick. There also appears to be a more shallow imperfection on the obverse side rim between the 7th and 8th stars up from the bottom, on the left side.

http://i2.photobucket.com/albums/y38...oldeagle-1.jpg

http://i2.photobucket.com/albums/y38...goldeagle2.jpg