Bill’s Blog

So now the big “copper” auctions are over.  We’ve all heard about the first $1,000,000.00 Large cent and the high prices the rest of the collections brought.  I had an interesting situation happen and was wanting to hear your take on it.

 So here it is:

 I have a client who is putting together a type set of GEM United States coins.  He wants high quality pieces with exceptional eye appeal.  Usually MS 65 and above, preferably CAC stickered.  So I saw an ad in Coin World with a late date large cent, PCGS MS 65 RD CAC in it.  I called the company (who I know very well and do business with), and inquired about the coin.  The person on the other end of the phone told me somebody would get back to me shortly.  At this time I should tell you that this was on the Friday before the big “copper” auction was to be held.  So I waited.  And waited.  Four days later, after the auction, I received a call.  The coin I had asked about was now “on hold” for another customer, and the dealer who had the coin proceeded to tell me how “crazy” the past weekend’s prices had been.  If, and I say “if”, the customer passed on the coin, then the dealer would let me know.  But he wasn’t sure about the price.  You see he had been at the auction the past weekend and was still hung over from the intoxicating results.  He wasn’t sure if the copper market had gone up 50% or what.

  What would you do? 

 I know what I did.  I know the result.  And soon I will, as Paul Harvey used to say, tell you “the rest of the story”.

 But first I’d like to hear your thoughts on this situation.  Has anything similar ever happened to you after a major auction?  Have you seen the radioactive fallout on the bourse floor at a major show following “crazy” auction prices? 

 Tell me about it…   

Numismatic Americana Incorporated
William Shamhart, Jr.
P.O. Box 608
Chester, NJ 07930

Phone: 1-908-962-1500
Fax: 1-908-879-9074
email: bill@numismaticamericana.com