Common date 90% halves $35 a piece at auction

[Pennysaved]

I went to a local auction yesterday and they had 5 common date 90% halves --- one was a Barber, 3 were walkers, and one was a Franklin.

I tried to get in on the bids but they went up to $35 a piece.

I couldn't believe it.

[pennypicker]

The bidders made their bids with the knowledge that the coins were old, large half dollars seldom seen anymore by the lay person, and made of silver. Therefore they felt these coins had significant value--and perhaps might be very valuable. People are stupid!

[NDFarmer]

When I go to auctions I see this all the time especially with Morgans as Pennypicker said just because they are old, large and made of silver people think they must be worth "A LOT". I have seen common date Morgans sell for $60.00 and $70.00 all the time. I very seldom ever come home with anything from an auction.

[njoElec]

35 bucks for a half? I hope I live to see silver that high!!

[baggerman]

This is why I quit going to auctions, very rarely have I seen coins go for a reasoanble amount.

[IdahoCopper]

Seems silly to ask, but if common date 90% halves can be bought for $11.50 (spot) and sold at auction for $35.00, why aren't you doing that?

I've been getting a few of them at 90% of spot, from my craigslist ad.

[wayne1956]

I have approximately $900 - $1000 FV in 90% halves, if I could get $35 each I would dump every one of them now, then go buy more from coin shops.

[Pennysaved]

Yeah might be worth trying to consign some

Take the risk with 5 and see how high they go

[IdahoCopper]

I went to a local auction yesterday and they had 5 common date 90% halves --- one was a Barber, 3 were walkers, and one was a Franklin.

I tried to get in on the bids but they went up to $35 a piece.

I couldn't believe it.

Were they sold as a lot, or individually?

[Pennysaved]

Well they sold individually

So they started the bid at $5 x 5 meaning $25 total

There was some confusion at 1st; and the bidding got up to $50 x 5

The auctioneer stopped everything and said are you guys aware that you are bidding per coin so it would be $50 x 5 or $250

When he asked the elderly lady if she was aware of that, she said no and he cancelled her bid and said let us start again.

He reitterated that it was starting at $5 per coin and the bidding got back up to $35 a piece again.