Did the Auction Company Really Score these Values?

ridiculous

Imagine how rich we would all become selling Morgan dollars worth $50-$100 for $1000 when buyers’ premium is added to hammer price, as in the lots above. Either the auctioneer has found the most numismatically challenged onsite audience in the country, or … well, we don’t know. Do you, Proxibid?

The hammer prices above are as follows:

  • 1886 MS64 PCGS $850
  • 1901-O MS64 PCGS $850
  • 1885-O MS63 PCGS $850
  • 1885-O MS63 PCGS $650

Recent PCGS auction prices, according to CoinFacts, are as follows: 1886 MS64, $82-$129; 1901-O, $83-$108; and 1885-O, $82=$123.

You’ll note as well in the Proxibid catalog listing that each item has an auctioneer’s estimated value at hundreds of dollars more than each coin is worth: $1000-$1200 for the first three Morgans and $800-900 for the fourth, which intrigues us, in as much as both are 1885-O PCGS MS63 coins. PCGS coins are meant to trade sight unseen because of the consistency and accuracy of their grades.

Hmmm.

You’ll also note that these coins were sold “onsite,” meaning that the auction company did not have to pay Proxibid a premium.

What do you make of all this?

Proxiblog is an independent entity with no connection to the auction portal Proxibid. Our intent is to uphold basic numismatic standards as established by the American Numismatic Association and the National Auctioneer Association and to ensure a pleasurable bidding experience not only on Proxibid but also on similar portals such as iCollector and AuctionZip.

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