1880 5C MS65 PCGS. CAC....
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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.
Internet bids are required only to bid the increment past the Current Bid, or more. Internet bids greater than one increment over the Current Bid can be any whole dollar amount.
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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Unquestioned Business Strike Attributes
The fields on this piece show slight reflectivity with mint frost intermixed, as one would expect from a short production run of business strikes; This is also seen on C- and D-mint gold, business strike 1882 and 1885 twenties, and low-mintage gold from the 1860s and 1870s. It is interesting to speculate on the actual rarity of 1880 business strikes. In Bowers' book on the series, he states: "Caveat emptor -- take the opinion of the grading services on an encapsulated coin with some hefty skepticism, since it is quite probable that there are 1880s that are misattributed (both ways)." Business strikes may be even rarer than population data indicates, since the study of unquestioned business strike 1880 nickels has just recently been conducted and published. One more indication of the business strike status of this coin is the incomplete venation on the leaves. Normally, one would look for a fully struck coin, but in this case softness over the high points of the leaf veins is further reassurance.
Each side has subtle mixture of gray-lilac and rose patina. The only strike "defect" worthy of mention is a small, shallow planchet flake in the field below the second S in STATES. An unquestioned business strike 1880 nickel is one of the great rarities in 19th century numismatics and a coin to be carefully considered by the astute collector. Population: 5 in 65, 1 finer (11/11).(Registry values: N4719) (NGC ID# 276E, PCGS# 3810)
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