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#1 2017-03-19 10:23:11

Nugget_Hunter
Silver Stacker
From: Southern Sydney
Registered: 2017-01-11
Posts: 1,309
Trades :   17 

Somebody Tell Us What This Was About ?

Auction result over the weekend ....

Like, WTF ???

www.iagauctions.com/pba/product.php?lot_id=6737

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#2 2017-03-19 10:41:36

Ipv6Ready
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From: North Sydney
Registered: 2016-01-08
Posts: 2,191
Trades :   39 

Re: Somebody Tell Us What This Was About ?

It's the rare purple error


WTB 4 to 6 grams of pure gold. Don't care if it is coin, bar or granules. Near spot, suits anyone who has been tempted to open a certicard or just have some granules to make a ring

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#3 2017-03-19 12:51:42

mmissinglink
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From: Everywhere...simultaneously
Registered: 2012-09-30
Posts: 6,080
Trades :   19 

Re: Somebody Tell Us What This Was About ?

^     lol




.


In some ways, we are not that different

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#4 2017-03-19 13:09:26

Nugget_Hunter
Silver Stacker
From: Southern Sydney
Registered: 2017-01-11
Posts: 1,309
Trades :   17 

Re: Somebody Tell Us What This Was About ?

"Purple error" ?

As in ' The Purple Penny' title ....

Really ?!

Colour of toning isn't an error.

It was described 'blue & green'.

Surely the auction house would have known about such an 'error' if it were one ....

It carried an estimate of $10. - $20.

Ended up at $2,304. !!!

It wasn't described as something of a rarity ( and the auction house would have capitalised on any potential 'selling point' )

Last edited by Nugget_Hunter (2017-03-19 13:11:59)

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#5 2017-03-19 13:48:15

Nugget_Hunter
Silver Stacker
From: Southern Sydney
Registered: 2017-01-11
Posts: 1,309
Trades :   17 

Re: Somebody Tell Us What This Was About ?

A check of Google produces no article on an Australian purple penny ( the only references relate to a private commercial venture of the same name ).

If it were a recognised 'error', surely there would be some research or discussion about it ...

I couldn't find anything.

Thus, a 'purple penny' is merely a toned coin.

I did find one reference that suggests, that bronze coins have been found to tone purple when stored in a 'tin can'- type container for some 40 - 50 years.

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#6 2017-03-19 21:11:01

Ipv6Ready
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From: North Sydney
Registered: 2016-01-08
Posts: 2,191
Trades :   39 

Re: Somebody Tell Us What This Was About ?

Lol it was sarcasm


WTB 4 to 6 grams of pure gold. Don't care if it is coin, bar or granules. Near spot, suits anyone who has been tempted to open a certicard or just have some granules to make a ring

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#7 2017-03-19 23:49:18

Nugget_Hunter
Silver Stacker
From: Southern Sydney
Registered: 2017-01-11
Posts: 1,309
Trades :   17 

Re: Somebody Tell Us What This Was About ?

At least I was prompted to 'look into it' ....

But the question remains ....

Why was there a bidding frenzy up to $2,304 for a 1964 penny ???

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#8 2017-03-20 00:06:09

Ipv6Ready
Silver Stacker
From: North Sydney
Registered: 2016-01-08
Posts: 2,191
Trades :   39 

Re: Somebody Tell Us What This Was About ?

Could be a pair of dumb and dumber bidders or money laundering if the same seller reaped similar windfall in other auctions.

Ten percent premium to clean dirty money would be cheap.


WTB 4 to 6 grams of pure gold. Don't care if it is coin, bar or granules. Near spot, suits anyone who has been tempted to open a certicard or just have some granules to make a ring

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#9 2017-03-21 17:24:17

Nugget_Hunter
Silver Stacker
From: Southern Sydney
Registered: 2017-01-11
Posts: 1,309
Trades :   17 

Re: Somebody Tell Us What This Was About ?

That particular auction house doesn't charge the vendor, but they do charge the buyer.

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