1972 Die 8 - $290?

[jcuve]

Am I missing something? I now have seen two eBay auctions where a MS-64 die 8 has ridiculous bidding. In both cases the header nor the description emphasized that it was die 8, but they both have clear pictures of the ANACS case saying it is. I know that any auction can get out of hand with just two bidders. Is this a case of two or three people not knowing what "Die 8" means and they think this it is "Die 1" or has there been an escalation in market value for die 8s??

As of now it is at $290

http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&rd=1&item=270261193435&ssPageName=STRK:MEWA:IT&ih=017

This is at $49.33 - however it has been relisted, it had been around $200 over the weekend.
http://cgi.ebay.com/1972-DDO-MS64-RD-ANACS-DOUBLE-DIE-ERROR-LINCOLN-CENT_W0QQitemZ180273465373QQcmdZViewItem?hash=item 180273465373&_trkparms=39%3A1|66%3A4|65%3A10&_trks id=p3286.c0.m14.l1308

...Meanwhile this $99 "buy-it-now" languishes with no bids at $49

http://cgi.ebay.com/1972-Lincoln-DDO-FS-033-58-Die-8-ANACS_W0QQitemZ250279226669QQihZ015QQcategoryZ524QQssPageNameZWDVWQQrdZ1QQcmdZViewItem

[mustbebob]

I have noticed a substantial increase in the auction prices for just about all of the 1972 DDOs. In addition, most other varieties are seeing an increase. Remember that there are more and more variety collectors coming on board almost every day. As far as die 008 goes, it is a little more scarce than some of the others, but the differences in each auction can be a bit confusing to those trying to fix a price on it.

[Brad]

This always happens to me. When I decide that I want to buy a set of coins, the prices go up. About half a year ago, I decided to get 1972 DDO's 2-8, since I already had DDO 1. Around that time the prices have been going up. Now I have 1, 2, 3, and 8. I have noticed that PCGS examples sell for much much more than ANACS & NGC. And NGC & ANACS example sell for more than uncertified examples. If you are trying to gauge these prices, it can be difficult. Not to mention the fact that may Ebay buyers of Dies 2 through 8 think that they are bidding on DIE 1. I can tell you that I paid $80 for DIE 2, $50 for DIE 8, and $50 for DIE 3 in the last six months. They are all ANACS MS 64/65 RD. Now I'm looking to buy a DIE 5, 6 or 7.

[jcuve]

So the first auction I mentioned sold for $326. With another buy-it-now auction (of the same coin in the same condition) being ignored I am concluding two things: that in this case the bidders think they are getting the 'Big One' (aka Die 1) and they don't know how to use the eBay search engine to try and gauge prices on prospective purchases.

I suspect that if the auction title or header stated that it was in fact die 8, and maybe some details about '72 DDOs in the description, that information (might) have tipped the buyers off. I don't think coins being sold way too high to ignorant buyers helps the hobby.

I know the prices on '72 DDOs have went up - I too have been trying (in vane) to acquire dies 1 and up. I have 1, 2, 3, 5 & 8. Die 3 I bought a while ago and paid less than $10. Die 8 I purchased 6 months ago and it was around $50. At the time I thought that was high - now I don't feel so bad. I have seen the prices get crazy on dies 4 and 7, but I think this is a product of collectors (like us) who are trying to get all of the '72 DDOs and competing with one another for the rarer varieties. I guess I should have started my '72 DDO hunt back when I grabbed that die 3...