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Re: Jeff wants some debate: Why did this dual different date 11c piece sell so low?

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  • Mike Diamond
    Maybe because the three year gap raised the specter of an assisted error?
    Message 1 of 38 , Oct 1, 2006
    • 0 Attachment
      Maybe because the three year gap raised the specter of an assisted
      error?

      --- In errorcoininformationexchange@yahoogroups.com, "mrlindy2000"
      <adkinstone@...> wrote:
      >
      > http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&item=170024715462
      >
      > Lindy
      >
    • Donovan Coinman
      Most Cool Mike B. Sometimes it really pays to be there. Belated Congrads! ./d ... __________________________________________________ Do You Yahoo!? Tired of
      Message 38 of 38 , Oct 4, 2006
      • 0 Attachment
        Most Cool Mike B. Sometimes it really pays to
        be there.

        Belated Congrads!

        ./d

        --- byersnc <no_reply@yahoogroups.com> wrote:

        > Mike D.- it's also SMART to attend any/all major
        > coin auctions from
        > major coin companies that have mint errors IF you
        > are able to.
        > Here's why and it's a great story illustrating that
        > you never know
        > what is going to happen:
        >
        > At the 2003 Baltimore ANA, B & M auctioned many rare
        > and expensive
        > mint errors. One of them was the Unique Morgan
        > Dollar Off-Center
        > with a brockage. It is the only known Morgan Dollar
        > with a brockage
        > and was certified by PCGS.
        >
        > On the B & M website the night prior to the sale of
        > that section the
        > next day, the bid was $15,000. and there was no
        > reserve so it was
        > going to sell the next day live. Several mint error
        > dealers/collectors and REGULAR dealers were talking
        > about this piece
        > since so many people collect Morgan dollars. The
        > guess was a
        > realized price of $25,000 to $30,000 plus the juice.
        >
        > That afternoon (when the session was live)I was
        > sitting in the back
        > row waiting for the lot number of that coin to be
        > live. I was
        > prepared to only bid once or maybe twice (the next
        > increment after
        > $15,000 which was the opening bid from the internet
        > bid of $15,000
        > the night before). I wanted to be in the coin around
        > $20,000
        > including the juice- no more.
        >
        > So... that lot number comes up. The B and M website
        > goes down, the
        > internet bids are deleted, they pause for a minute
        > to figure out
        > what to do. The lot is opened at ONE DOLLAR!
        >
        > Some people in the lobby area of the convention
        > right by the door
        > are taking a break, others are "out" on bidding and
        > didn't even
        > bother to place a bid via fax, in person before the
        > auction started
        > or by leaving a bid with someone else who is
        > bidding. The general
        > consensus was "Why bother- since it was "going" to
        > open at the
        > $15,000 and go to $25,000 or $30,000".
        >
        > The coin quickly sells for $4830. including the
        > juice ( to me) and
        > the next lot goes live without a second to waste. I
        > am sitting there
        > expecting for the auctioneer to re-open the lot.
        > This happens once
        > in awhile when a floor bidder yells that he missed
        > the lot, or an
        > employee of the auction company states that he/she
        > missed a bid. It
        > is the auctioneer's discretion whether to re-open a
        > lot or not, and
        > in 99% of the situations, the lot in question either
        > closed within 3
        > minutes or before 10 lots have passed it by.
        >
        > No one says anything so I'm assuming it's mine, but
        > I'm not holding
        > my breathe since it had an internet bid of $15,000
        > and that was
        > suppose to be the opening bid.
        >
        > The next morning I am first in line waiting at the B
        > & M auction
        > table "pick-up your lots line" at 8:30 since it
        > opens at 9 AM. I
        > expect a delay and confusion when my invoice is
        > printed, coins
        > plucked from their boxes, package assembled and
        > delivered to me as I
        > present my check. Even though 10 lots and 3 minutes
        > had expired
        > (it's the next morning) the auction company can do
        > whatever they
        > want to if they want to ( read the pages and pages
        > of TERMS in the
        > front of their catalog).
        >
        > Nothing happens, I leave with my coins and the next
        > customer sits
        > down who was in line. At the show that morning Brian
        > Hendelson and
        > Sheridan Downey (2 regular coin dealers who
        > occasionally dabble in
        > mint errors) both came up to me and made offers.
        > Brian offered
        > $15,000 and Sheridan offered $15,000 plus the juice.
        >
        > I politely passed even though both were a 5 figure
        > profit since I
        > was prepared to pay more than each of them offered.
        > The coin was a
        > rip and I was going to maximize the situation since
        > it doesn't
        > happen very often (how I won the coin live). Here's
        > the link to
        > the coin in the sale, and the link to the coin on my
        > website.
        > Anything can happen in an auction, whether your
        > physically there, or
        > live on the internet when it goes off.
        >
        > http://tinyurl.com/ef639
        >
        > http://mikebyers.com/60107310.html
        >
        >
        > Mike Byers
        > http://mikebyers.com
        >
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        >
        > --- In errorcoininformationexchange@yahoogroups.com,
        > "Mike Diamond"
        > <mdia1@...> wrote:
        > >
        > > I guess the take-home message is that you should
        > place a throwaway
        > bid
        > > on any coin you fancy, because you just never
        > know.
        > >
        > > There have been a few Heritage coins where I think
        > I should have
        > thrown
        > > a few more bucks in their directions.
        > >
        > > --- In
        > errorcoininformationexchange@yahoogroups.com,
        > byersnc
        > > <no_reply@> wrote:
        > > >
        > > > Mike D.- here is why the 1909 Indian Cent dual
        > date double
        > > > denomination did NOT sell for more. It had
        > nothing to do with
        > the 3
        > > > years apart. (You have to sign into Coin
        > Universe/PCGS to view
        > the
        > > > forum and chat boards).
        > > >
        > > > http://tinyurl.com/g2ffv
        > >
        >
        >
        >
        >
        >


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