$88 bid for a generic 1 oz silver round--unbelievable!!

[pennypicker]

I'm a fan and collector of The Golden State Mint's 1 oz Incuse Indian silver round. Provident regularly sales these for $1.49 over spot and on ebay they appear daily and sale in the $25 to $27 range. Unbelievably there is an ebay seller who, for some reason, receives incredible final sale prices when he lists these particular rounds on ebay. On March 1st his listing ended with a price of $73 . This of course caught my attention. And today he has another one listed and with under two days left the bidding is up to $88--are you kidding me?

This seller clearly states in the title & description that it is a 1 oz silver round and he gives very large pictures clearly showing the 1 oz designation on the reverse of the coin. So there is no deception here as bidders clearly know they are bidding on just one 1 oz coin and not multiples or possibly even the 5 oz Incuse Indian silver round which sell for around $125 on ebay. With this coin along with the previously sold one there are a host of bidders fighting against each other when at the same time on ebay there are several other "buy it now" listings of the same round in the $27 to $31 range that these bidders either didn't see or are ignoring. In all my years on ebay I have never seen a common generic round sell for such astounding prices. I just don't get it...




http://www.ebay.com/itm/1-TROY-OZ-1929- ... 1c3d9279f3

[Hawkeye]

That's crazy. I just got one of those the other day. It is a nice looking coin. Maybe I should throw it on ebay and roll the dice?

[silverstacker]

That is unreal!! I currently sell Art Bars on Ebay that go anywhere between $29.99 - $49.99 and I absolutley love it becasue I get those out of the generic box at my LCS

I guess its all in the marketing. The coin does show an early date and he makes it a point to say that the "design" is a $5 gold piece. Maybe thats the ticket.

Whatever it is WOW!

[Shazbot57]

It pays to shop around!

[pennypicker]

Well the ignorant high bidder at $88 has just now been outbid by an ever bigger ignoramus at $90.35--Heck for just $18 more this high bidder can buy from Provident the HUGE 5 oz Incuse Indian round also made by The Golden State Mint

[pennypicker]

Final sale price---$92.35 Oh the humanity!!

[$nack-Money]

Ole P.T. Barnum was right... enough said

[Rosco]

It could be a round with a bonus eg. Dime Bags

[Hawkeye]

I just can't wrap my head around it. I do not know what people are thinking.

[xippi]

I'm thinking it might be his limited international shipping?

Shipping to: United States, Canada, United Kingdom, Australia, Germany, Japan

Excludes: Russian Federation, Brunei Darussalam, Cambodia, Hong Kong, Laos, Macau, Taiwan, Thailand, Vietnam, Afghanistan, Armenia, Azerbaijan Republic, Bangladesh, Bhutan, Georgia, India, Kazakhstan, Korea, South, Kyrgyzstan, Maldives, Mongolia, Nepal, Pakistan, Sri Lanka, Tajikistan, Turkmenistan, Uzbekistan, Bahrain, Iraq, Jordan, Kuwait, Lebanon, Oman, Qatar, Saudi Arabia, Turkey, United Arab Emirates, Yemen

[OtusLotus]

I think for the novice investor, they see the 1929 date on the coin, and they think the coin is really really old. JMHO

BTW... they are now listing an identical coin for sale.

[cooyon]

I think for the novice investor, they see the 1929 date on the coin, and they think the coin is really really old. JMHO

BTW... they are now listing an identical coin for sale.

Boy, I can't blame them for trying this again

[pennypicker]

Somewhat sad when you think about it. With shipping that person purchased a common generic 1 oz silver round for a total $94.34--yet today with APMEX's free shipping special I purchased a 2014 (S) PCGS 69 (First Strike/Flag Label) ASE delivered for just $29.98

[tinhorn]

That's bizarre. I was researching eBay sales of unsearched penny boxes and saw a couple sell for nearly a hundred dollars--for a $25 box of pennies!

[NDFarmer]

A lot of uninformed buyers for all coins. I was at a coin auction on Sunday. People were paying $90.00 yes $90.00 dollars for common Morgan dollars in a VF grade at best. They were very smooth coins. And $8.00 to $10.00 dollars for common date post 1900 Indian head pennies. It was nuts. Had everybody shaking their heads. I think I should schedule and auction.

[OtusLotus]

The other thing that this guy has going for him IMHO is his name, which is antiquecoingallery, which connotates that he deals with REALLY OLD coins.

so, put two and two together and you get $93 for a $30 coin

[Hawkeye]

I am halfway tempted to buy a dozen of those and put them up to see what happens.

[smackvay]

I sell sports cards on ebay and I will run an auction on a card on sunday evenings, (meanwhile the buy it now it still in my listings) and 50% of the time the auction goes over the buy it now pirce. Several reasons on why I think this happens:
1. People LOVE auctions
2. 99% of people do not look thru buy it nows
3. 99% of people NEVER do any research and waste money

[pennypicker]

A lot of uninformed buyers for all coins. I was at a coin auction on Sunday. People were paying $90.00 yes $90.00 dollars for common Morgan dollars in a VF grade at best. They were very smooth coins. And $8.00 to $10.00 dollars for common date post 1900 Indian head pennies. It was nuts. Had everybody shaking their heads. I think I should schedule and auction.

$90 for common Morgans is mind blowing enough but $10 for common post 1900 Indian heads takes the cake. I heard the economy in ND is very good these days--is it that good?

[OtusLotus]

It's FRACKING unbelievable!