$1,250 For 1658 Potosi 1 Reale ?

[NicaJake]

Does anyone know why the seller of this cob would be asking such a high price? Is it simply way overpriced, or am I missing something?

 

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[Diver_Down]

Nothing special about it, but what is the provenance? In some pieces, the proven provenance is worth more than the coin alone. Take for example a 4R that I have. Nothing terribly unique about it. Nice early dated Santa Margarita piece but it was the personal piece of Mo Molinar. I have a standing offer of $1000 from Taffi.

 

[Mackaydon]

I'd be surprised if it fetched even $250.
Don.....

 

[Georgivs]

That's the funny thing about internet auctions/consignment stores.... the stuff that's reasonably priced sells and the stuff that is priced crazy high sticks around. It's like natural selection or true capitalism. That's why I laugh whenever someone says " but this is posted for XXX dollars on EBAY!" You have to look at how many have actually sold and at what average price to actually get what's reasonable.

 

[Diver_Down]

That's the funny thing about internet auctions/consignment stores.... the stuff that's reasonably priced sells and the stuff that is priced crazy high sticks around. It's like natural selection or true capitalism. That's why I laugh whenever someone says " but this is posted for XXX dollars on EBAY!" You have to look at how many have actually sold and at what average price to actually get what's reasonable.

Yes and no. Anyone can put any asking price they want, but it doesn't mean that it isn't worth a high value. Everyone wants a deal, but certain pieces deserve a high premium. The OP's attached 1R isn't special and is more likely an $80 piece (Sorry, Don.)

Case in point on the Mo Molinar piece that I mentioned above. If I was to list it on eBay, I would have to list it for $1150 just to match Taffi's standing offer to break even with eBay's fees. If it didn't have the provenance of being Mo's personal piece, it would be $350/coin. There should be a demand for a unique piece. The general public often doesn't have the opportunity to own something that is coveted by Taffi.

I also have a near full weight (very minor loss due to saltwater corrosion) Grade 1 Atocha 8R that has been in my possession and hasn't been seen by the public in close to 40 years. It is valued at $3600. Grade 1's don't come on the market too often. If I was to list it on eBay at that value, I lose $360 in just fees.

I have an CC Morgan in OGP from the GSA hoard that is a unique piece. It is listed at $400 which means that I'll only receive $360 after fees. Yet, some have offered $250. I have no time for that and just block them just for being cheap.

 

[NicaJake]

Thank you all for your replies. It's just an overpriced cob. There is no provenance mentioned. Tortuga trading website. 3 dates. And the one in the legend is partial. I just was curious if I was missing something obvious that I couldn't see. But, I suppose if someone pays $1,250, then that is exactly what the correct price was.

 

[Georgivs]

Thank you all for your replies. It's just an overpriced cob. There is no provenance mentioned. Tortuga trading website. 3 dates. And the one in the legend is partial. I just was curious if I was missing something obvious that I couldn't see. But, I suppose if someone pays $1,250, then that is exactly what the correct price was.

What's it worth? whatever you can get someone to pay for it!

 

[Mackaydon]

Diver Down,
I agree. I put $250 in there only for comparison.
Personally, I'd pass without bidding.
Don.......

 

[dognose]

There is a lot of the overprices items out there.

A lot of people think they have golden items. Especially after watching the shows like pawn stars, antique roadshow or any of the other reality shows these days.

Most of the time they dont have gold, they have field grade medium desirability items. They tend to put an intrinsic value on an item. intrinsic value does not play into the actual value on the open market.