1908 $5 PR67 NGC....
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Minimum Next BidBid increments determine the lowest amount you may bid on a particular lot. Normally, bids must be at least one bidding increment over the Current Bid. However, podium, fax, phone and mail bidders submit bids at various times without knowing the current bid and must be on-increment or at a half increment (called a Cut Bid). Any podium, fax, phone, or mail bids that do not conform to a full or half increment will be rounded up or down to the nearest full or half increment.
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It is possible under several circumstances for winning bids to be between increments. It is also possible for an existing bid to be outbid by less than a full increment, sometimes by only $1. This usually happens when two bidders feel that a lot is worth about the same amount, but one places an off-increment bid. Generally when this happens, the Current Bid was much lower than the high secret maximum bid when the off-increment bidder placed his bid.
For example: On Tuesday, you bid $1500 against Bidder A's Maximum Bid of $1000, raising Current Bid to $1100. Then on Thursday, Bidder B, seeing a Current Bid of $1100, guesses the final price and decides to bid $1501, outbidding your Maximum Bid by $1. You would now have to bid $1600 through Heritage Internet bidding or $1550 on Heritage Live (if available for the auction) to possibly win that lot. Next time, maybe you'll bid $1502 and outbid Bidder B by $1!
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Although many lots will not get reserves, this signifies that we have not yet posted any reserves to this entire auction. Reserves are usually posted approximately 3 days prior to the closing for Internet-only auctions, and approximately 7 days prior to the live session for Signature auctions. At that point, any unmet Reserve will become both the price shown (with an asterisk) and the Minimum Next Bid, regardless of any previous bids.
Although the consignor's agreement allows a reserve on this lot, the deadline for submitting such a reserve has elapsed. If consignor submits a reserve post-deadline and the item fails to meet that reserve, we may charge the consignor a higher reserve fee.
This lot is being sold without a consignor reserve. (Note: By law, consignors may still bid under certain conditions, but they are responsible for paying the full Buyer's Premium and Seller's Commission if they do.)
A reserve has been posted on this lot, but no bids have met the reserve. The current bid has been set to the reserve amount, and the next bid will meet the reserve.
Reserves have been posted for this auction, and there is a reserve on this lot that has already been met.
Lots bearing estimates and without Consignor Reserve shall open at Auctioneer's discretion (usually 25% to 60% of the low estimate).
What's This?The owner of this item has indicated that they would sell this item at the amount, although their acceptance of your offer is required before the item can be purchased.
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Not SoldThis indicates an item that did not sell at auction because it did not receive bids equal to or greater than the reserve (minimum bid) amount set by the consignor, or the opening bid.
Opening Bid:Lots bearing estimates and without Consignor Reserve shall open at Auctioneer's discretion (usually 25% to 60% of the low estimate).
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Extended Payment Plan for Heritage Owned Inventory Items(excludes Virtual Bourse, Comic Market and Virtual Sports Show)
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Some who ordered the new Indian half eagle proofs from the Mint were surely surprised when they examined their specimens. Unlike prior designs, the devices were sunken into the field, with the high points at the same level as the field. These designs are often referred to as incuse, but this is a misnomer, since an incuse design would have opposite relief, with areas such as the cheekbone the lowest point of the design, instead of the highest. The proof finish of the Indian half eagle was also dramatically different from the Liberty type. Proof Liberty half eagles have mirrored fields and (at times) frosty devices, similar to the proof gold American Eagles in production today. The proof Indian and Saint-Gaudens types are matte proofs, with the same microgranular finish on both the fields and devices.
Proof Indian half eagles are easily distinguished from their business strike counterparts. The color is comparatively dark, since the fields lack reflectivity and luster is diffused. Since the pieces were well-made, the abrasions that plague bag-stored business strikes are absent on proofs. Finally, the proofs are fully struck, the extra detail most noticeable on the eagle's shoulder and the lower reaches of the headdress. The present piece shows all of these characteristics and is essentially perfect, save for a tiny Mint-made planchet flaw located directly beneath, but relatively distant from, the U in TRUST. This minuscule flaw serves as an identifier for any auction appearances. Census: 10 in 67, 1 finer (5/11).
Ex: Philadelphia Bullet Sale (Heritage, 8/2000), lot 691, which realized $30,475; FUN Signature (Heritage, 1/2007), lot 3129, which brought $48,875; Baltimore Signature (Heritage, 3/2009), lot 3051, which garnered $43,125.(Registry values: N10218) (PCGS# 8539)
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