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1796 B-4 Draped Bust Dollar -- Opinions??
Hi, Everyone.
I recently had a coin graded by ANACS for someone wanting advice. It came back F-12 Details, Cleaned. Here are the pics: http://home.comcast.net/~bhartman24/1796secondobv.jpg http://home.comcast.net/~bhartman24/1796secondrev.jpg The reason I had it graded was for selling purposes. How do you think it would do on Ebay? Or is Heritage a better choice? Any advice you could give me would be appreciated. I asked some people on the PCGS U.S. Coin Forum, and they sounded like Ebay would be an okay venue. What do you think it would go for? Brian |
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#2
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1796 B-4 Draped Bust Dollar -- Opinions??
Brian Hartman wrote:
Hi, Everyone. I recently had a coin graded by ANACS for someone wanting advice. It came back F-12 Details, Cleaned. Here are the pics: http://home.comcast.net/~bhartman24/1796secondobv.jpg http://home.comcast.net/~bhartman24/1796secondrev.jpg The reason I had it graded was for selling purposes. How do you think it would do on Ebay? Or is Heritage a better choice? Any advice you could give me would be appreciated. I asked some people on the PCGS U.S. Coin Forum, and they sounded like Ebay would be an okay venue. What do you think it would go for? Look over the sales data in the Heritage auctions? Check other dealer/auction site data. Get comfortable with a reserve. Give Ebay a try with that data? -- JMark |
#3
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1796 B-4 Draped Bust Dollar -- Opinions??
JMark wrote: Brian Hartman wrote: Hi, Everyone. I recently had a coin graded by ANACS for someone wanting advice. It came back F-12 Details, Cleaned. Here are the pics: http://home.comcast.net/~bhartman24/1796secondobv.jpg http://home.comcast.net/~bhartman24/1796secondrev.jpg The reason I had it graded was for selling purposes. How do you think it would do on Ebay? Or is Heritage a better choice? Any advice you could give me would be appreciated. I asked some people on the PCGS U.S. Coin Forum, and they sounded like Ebay would be an okay venue. What do you think it would go for? Look over the sales data in the Heritage auctions? Check other dealer/auction site data. Get comfortable with a reserve. Give Ebay a try with that data? -- JMark Hi, JMark. I've looked over some of the Heritage and Ebay auctions. My issue is that the coins Heritage auctions always look overexposed and washed out, so I hesitate to go through them, but I'm not sure about how to price the starting bid, how long to make the auction, etc., if I go the Ebay route. I'm selling this for someone else, so I want to be extra careful with it. |
#4
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1796 B-4 Draped Bust Dollar -- Opinions??
On 12 May 2006 11:05:51 -0700, Brian Hartman wrote:
I've looked over some of the Heritage and Ebay auctions. My issue is that the coins Heritage auctions always look overexposed and washed out, Hm. I was _just_ there, and they have an "adjust brightness/contrast" right next to the coin images. Maybe you have flash turned off and your functionality is limited? so I hesitate to go through them, but I'm not sure about how to price the starting bid, how long to make the auction, etc., if I go the Ebay route. Well, you don't want a short auction, go for the standard 7 days. Short auctions are often used by people who want a quick sale for less than honorable reasons, and I am probably not alone in considering a short auction to be a red flag. I'd see heritage and eBay's completed auctions for pricing history, and then start the bidding at maybe 50% of the average. Because it's someone else's coin, explain to them that this is to encourage bidding to start, but high enough to protect him from losing out entirely. Or you can start bidding very low and have a reserve at his absolute rock-bottom. It costs more but that's cheper than selling it way under what he thinks it's worth. Let the owner decide, just present the options to him. I'm selling this for someone else, so I want to be extra careful with it. Understood and appreciated. One thing - What does "B-4" mean in this context? I'm ignorant of 18th century US coins but do you mean "G-4"? |
#5
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1796 B-4 Draped Bust Dollar -- Opinions??
Dave Hinz wrote: On 12 May 2006 11:05:51 -0700, Brian Hartman wrote: I've looked over some of the Heritage and Ebay auctions. My issue is that the coins Heritage auctions always look overexposed and washed out, Hm. I was _just_ there, and they have an "adjust brightness/contrast" right next to the coin images. Maybe you have flash turned off and your functionality is limited? Hi, Dave. I've got the plugins necessary, and I've adjusted the images when I've looked. My fear is that the bidders will take the images at face value, and that the adjustments allowable by the interface are insufficient for getting a really good look at the coin. I've looked at several Morgans being auctioned on the Heritage site, and my first response to most of them is, "Geez, what are they hiding???" I really don't want people to be left with that impression of this coin. so I hesitate to go through them, but I'm not sure about how to price the starting bid, how long to make the auction, etc., if I go the Ebay route. Well, you don't want a short auction, go for the standard 7 days. Short auctions are often used by people who want a quick sale for less than honorable reasons, and I am probably not alone in considering a short auction to be a red flag. Thanks. That's what I figured. Much better to let the bids stack up than to be perceived as trying to take the money and run! I'd see heritage and eBay's completed auctions for pricing history, and then start the bidding at maybe 50% of the average. Because it's someone else's coin, explain to them that this is to encourage bidding to start, but high enough to protect him from losing out entirely. Or you can start bidding very low and have a reserve at his absolute rock-bottom. It costs more but that's cheper than selling it way under what he thinks it's worth. Let the owner decide, just present the options to him. I hesitate to have a reserve, because I think reserves tend to chase bidders away, but in this case, I think a reserve would probably be the best option. It's better to not sell than to leave the person I'm selling for feeling screwed. Thanks for your advice! I'm selling this for someone else, so I want to be extra careful with it. Understood and appreciated. One thing - What does "B-4" mean in this context? I'm ignorant of 18th century US coins but do you mean "G-4"? B-4 is short for Bolender-4, a die variety of bust dollars of this year: http://www.coinfacts.com/silver_doll...dollar_b04.htm "B-4 is from the same small date obverse as B-3, with the following corrections by the engraver: the curl on top of the head and stars on right are perfect. For the reverse, there are eight plain berries in the wreath (in B-1, B-2, and B-3, which share the same Small Letters reverse, there are only 7 berries in the wreath)." It's apparently one of the more common varieties of this issue. |
#6
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1796 B-4 Draped Bust Dollar -- Opinions??
On 12 May 2006 11:36:09 -0700, Brian Hartman wrote:
I've got the plugins necessary, and I've adjusted the images when I've looked. My fear is that the bidders will take the images at face value, and that the adjustments allowable by the interface are insufficient for getting a really good look at the coin. I wonder if they'll let you include a link to your own webserver with the raw scans, in an auction there? If you need webspace, I've got plenty, just say the word. I've looked at several Morgans being auctioned on the Heritage site, and my first response to most of them is, "Geez, what are they hiding???" I really don't want people to be left with that impression of this coin. Absolutely agree. Well, you don't want a short auction, go for the standard 7 days. Short auctions are often used by people who want a quick sale for less than honorable reasons, and I am probably not alone in considering a short auction to be a red flag. Thanks. That's what I figured. Much better to let the bids stack up than to be perceived as trying to take the money and run! Right. Also don't post with a Chinese email address, that always helps. I'd see heritage and eBay's completed auctions for pricing history, and then start the bidding at maybe 50% of the average. Because it's someone else's coin, explain to them that this is to encourage bidding to start, but high enough to protect him from losing out entirely. Or you can start bidding very low and have a reserve at his absolute rock-bottom. It costs more but that's cheper than selling it way under what he thinks it's worth. Let the owner decide, just present the options to him. I hesitate to have a reserve, because I think reserves tend to chase bidders away, but in this case, I think a reserve would probably be the best option. It's better to not sell than to leave the person I'm selling for feeling screwed. Thanks for your advice! When it's just me selling my stuff, I don't mind so much taking a hit on a single item, because usually I can make it up elsewhere and it all evens out. But in this case, I'd ask him to set a reserve, then you evaluate it for realism and advise accordingly. Yes, some people won't bid on an auction with an unknown reserve. Some listings even _say_ what the reserve is, which I've never understood but thought I'd mention. (why not just start bidding there then? I dunno.) I'm selling this for someone else, so I want to be extra careful with it. Understood and appreciated. One thing - What does "B-4" mean in this context? I'm ignorant of 18th century US coins but do you mean "G-4"? B-4 is short for Bolender-4, a die variety of bust dollars of this year: http://www.coinfacts.com/silver_doll...dollar_b04.htm Ah. excellent, thank you. I'm measurably less ignorant now. It's apparently one of the more common varieties of this issue. It's fascinating the amount of hand-engraving and craftsmanship which went into the early dies. |
#7
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1796 B-4 Draped Bust Dollar -- Opinions??
Dave Hinz wrote: On 12 May 2006 11:36:09 -0700, Brian Hartman wrote: I've got the plugins necessary, and I've adjusted the images when I've looked. My fear is that the bidders will take the images at face value, and that the adjustments allowable by the interface are insufficient for getting a really good look at the coin. I wonder if they'll let you include a link to your own webserver with the raw scans, in an auction there? If you need webspace, I've got plenty, just say the word. I've looked at several Morgans being auctioned on the Heritage site, and my first response to most of them is, "Geez, what are they hiding???" I really don't want people to be left with that impression of this coin. Absolutely agree. Well, you don't want a short auction, go for the standard 7 days. Short auctions are often used by people who want a quick sale for less than honorable reasons, and I am probably not alone in considering a short auction to be a red flag. Thanks. That's what I figured. Much better to let the bids stack up than to be perceived as trying to take the money and run! Right. Also don't post with a Chinese email address, that always helps. I'd see heritage and eBay's completed auctions for pricing history, and then start the bidding at maybe 50% of the average. Because it's someone else's coin, explain to them that this is to encourage bidding to start, but high enough to protect him from losing out entirely. Or you can start bidding very low and have a reserve at his absolute rock-bottom. It costs more but that's cheper than selling it way under what he thinks it's worth. Let the owner decide, just present the options to him. I hesitate to have a reserve, because I think reserves tend to chase bidders away, but in this case, I think a reserve would probably be the best option. It's better to not sell than to leave the person I'm selling for feeling screwed. Thanks for your advice! When it's just me selling my stuff, I don't mind so much taking a hit on a single item, because usually I can make it up elsewhere and it all evens out. But in this case, I'd ask him to set a reserve, then you evaluate it for realism and advise accordingly. Yes, some people won't bid on an auction with an unknown reserve. Some listings even _say_ what the reserve is, which I've never understood but thought I'd mention. (why not just start bidding there then? I dunno.) I've read on the PCGS U.S. Coin forum where people won't bid on reserve auctions w/o the reserve price being either stated or asking the seller what the reserve price is. I think the issue is that a lot of people don't want to waste time putting in bids when they are ready to meet the reserve price, if they only knew what it was. The problem with starting the bidding at that price, though, is that people don't want to scare bidders away with a high price. Psychologically, its easier to get someone to look at your coin when the drop-dead price isn't stated outright. I'd probably start with a moderate starting price, rather than with a reserve auction. Starting out a little bit below my wished-for price is probably a better strategy than putting in an aggressive reserve and having it rejected. I'm also planning on sparking interest by announcing the auction on the Buy/Sell/Trade forum on the PCGS boards. (You can send me an e-mail if you want me to notify you when I start the auction. I don't want to be accused of spamming on this board.) Ah. excellent, thank you. I'm measurably less ignorant now. It's apparently one of the more common varieties of this issue. It's fascinating the amount of hand-engraving and craftsmanship which went into the early dies. One thing I'm still wondering: How did they put the lettering on the edge? Was that hand-stamped or did they have special dies? |
#8
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1796 B-4 Draped Bust Dollar -- Opinions??
Brian Hartman wrote:
I've read on the PCGS U.S. Coin forum where people won't bid on reserve auctions w/o the reserve price being either stated or asking the seller what the reserve price is. [...] Psychologically, its easier to get someone to look at your coin when the drop-dead price isn't stated outright. I'm one of those people. It's not a hard-and-fast rule for me, but I will usually skip auctions that have a reserve. My reason: I consider reserves to be dishonest. Not a major, ethics-smearing dishonesty, of course, but an indicator nonetheless. It's akin to a huckster at a carnival. "LQQK! It's only $1!" If the seller isn't going to be up-front about his *price*, what else is he hiding? Can I trust his shipping? Can I trust his description? -- Jim Seymour |
#9
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1796 B-4 Draped Bust Dollar -- Opinions??
Jim Seymour wrote: Brian Hartman wrote: I've read on the PCGS U.S. Coin forum where people won't bid on reserve auctions w/o the reserve price being either stated or asking the seller what the reserve price is. [...] Psychologically, its easier to get someone to look at your coin when the drop-dead price isn't stated outright. I'm one of those people. It's not a hard-and-fast rule for me, but I will usually skip auctions that have a reserve. My reason: I consider reserves to be dishonest. Not a major, ethics-smearing dishonesty, of course, but an indicator nonetheless. It's akin to a huckster at a carnival. "LQQK! It's only $1!" [snip] I can respect that. My feeling on it is, if there's a drop-dead price under which you don't want to go, either start the bidding at that price, or state the price in a reserve auction. As a seller, I can understand not wanting to post the reserve price, if you're hoping to test the waters without giving up your coin. I just think that when you do that, you're depressing the bidding, because some people who might bid, won't because it's a reserve auction. Since I'm selling this coin for someone else, there's a definite (although right now undetermined) baseline below which I don't want to go in price, so I wouldn't just start the bidding at $100 and hope for the best. But I wouldn't go to the opposite extreme, either, and scare people away by demanding upfront top dollar. I would rather set a reasonable starting bid and let the market do the rest. |
#10
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1796 B-4 Draped Bust Dollar -- Opinions??
Brian Hartman wrote:
Since I'm selling this coin for someone else, there's a definite (although right now undetermined) baseline below which I don't want to go in price, so I wouldn't just start the bidding at $100 and hope for the best. But I wouldn't go to the opposite extreme, either, and scare people away by demanding upfront top dollar. I would rather set a reasonable starting bid and let the market do the rest. The rationale behind a reserve is sound. If it hangs people up - then they don't bid - probably weren't going to help maximize your potential anyway. If your concern for maximum participation overrides your concern for protecting your seller should only basement bargain seekers choose to bid - you have accommodated your own undoing. There is no reason to accept some absurd risk to maximize your *potential* market. That being said, if you can accept and show you are willing to start with the possibility of a bargain should bidders not materialize - then both buyer and seller have a reasonable margin and the tighter bidders are accommodated somewhat. Let me clarify that I participate in auctions, but not Ebay. I have no hang ups with a seller offering items at what the market will bear over and above statistical price data that is always in arrears. I also took an interest as I only recently purchased a 1798 $1 in F-15 that I was able to move into reasonably. -- JMark |
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