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Crazy estimate (and hammer) for such a common coin.


JayAg47

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This bronze coin from the French Indian city of Pondicherry has an estimate of $150-300, and someone actually bought it for $120 incl premiums. 

Is it because it's been certified by PCGS?

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Meanwhile I bought mine for only $15, and there are still so much of these available for cheap.

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4 hours ago, JayAg47 said:

This bronze coin from the French Indian city of Pondicherry has an estimate of $150-300, and someone actually bought it for $120 incl premiums. 

Is it because it's been certified by PCGS?

Untitled.png.73742e81564e05896860c31e2f713b75.png

Meanwhile I bought mine for only $15, and there are still so much of these available for cheap.

normal_18th.jpg.951deff30389a50cba28c0bcfd2c04ef.jpg

I'd say you got nice coin for a good price and the usual factors apply:

- venue matters

- condition matters

- the right buyers being at the venue matters - some people will pay any price for the coin they want now

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The venue matters quite a bit, as some buyers will only buy from the top auction houses. In the UK, I can sometimes buy certain coins on eBay for a fifth of what they'd cost at a top UK auction house.

Stacks happens to be in the US, where many collectors refuse to buy overseas because of the high shipping costs (somewhat ironically in this case). In addition, some Americans will only buy slabbed. Those restrictions together mean they've limited their pool of non-US coins to 5% of what it should be. Being American, they have wealthy competitors for those few slabs at top US auction houses, so they have to pay high prices.

Of course, you have to wonder if they see the irony in paying enough to buy 5 coins while trying not to buy a fake. It certainly pays to do your homework and learn about the coins you're buying so you don't need to pay for such security blankets.

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