Concerns and confusion: Ike $1 1971S-FS-501 (RPM-001)
Jay4202472000
Posts: 28 ✭✭✭
I had been trying to pick an example of 1971S-FS-501, and I used the 2 parallel die gouges (see the Ike Group DIVa files) as my main PUP. I finally found one and snatched it up. When I got it I checked it with DIVa. It is without a doubt the die shown as FS-501/1SB-501.
I went to Variety Vista and Wexler to get the cross reference numbers to add to my spreadsheet and it does not match RPM-001 (CONECA's FS-501) or WRPM-003 (Wexler's FS-501).
The coin shown in the DIVa files actually matches RPM-002, WRPM-004, and Tom K's old IDDD-RPM-4.
Here are the links:
http://doubleddie.com/1217040.html
http://varietyvista.com/13 Eisenhower ... RPM002.htm
http://www.ikegroup.info/DIVA list...0S/1SB-501.pdf
I then went to compare PCGS images of FS-501. To my surprise, the 3 top pop coins shown are all RPM-002, WRPM-004, & IDDD-RPM-4. They are not the true FS-501. You can easily see the two parallel die gouges to the right of TRUST. The MS67 sold through Heritage in 2016 for almost $9000.
https://coins.ha.com/itm/a/1231-8871.s
I checked NGC and they have it right. They even have RPM-002 as a Variety Plus number, VP-001.
My main concern is what reference PCGS is using to attribute FS-501. If they are using DIVa, it will continue to be attributed incorrectly, until the reference is corrected.
I have attached images of my coin, with marker photos. My coin matches RPM-002, WRPM-004, IDDD-RPM-4, and the three top pop PCGS examples of FS-501. However, it is definitely not FS-501.
Comments
Bump.
Anyone? Where do the Ike collectors hang out? I can't get a response at the Ike Group either. The Lincoln Cent Forum members were happy to discuss, but there are no hardcore Ike collectors there.
Try CCF. There are some die-hard Ike collectors over there.
People collect Ikes?
Now I have to go look at the Ike's I have.....
Well... not right now... this is more detail than I usually follow... Maybe come winter... Cheers, RickO
There was an old thread I found a while back discussing IKEs and in it was a link to a ike only website with very helpful information .
Thanks all. The Ike only site you are referring to is the one with the FS-501 attributed wrong. Unless you are talking about Tom K's site. It's no longer available since he passed (RIP).
I expected someone from PCGS to chime in considering there is a $9000 mistake floating around somewhere. It's probably in the top variety registry set. I can't view #1 to be sure or I would contact the owner.
I am assuming that you are being faecitous....
The last several shows I have done I sold every Ike I brought with me.
Also selling well on eBay.
I was thinking about starting to pick some varieties, but if the main group dedicated to them doesn't care enough to try to get the attributions correct, and the most respected TPG can't look at more than one resource and see a blatantly obvious discrepancy, I'm out. I'll stick to my Lincolns, Washingtons, and Jeffersons. It's been like trying to pull teeth to get someone that matters to look into this. Good luck to those that like to shove $9000 up a monkey's...uncle.
I am VERY impressed with the pictures, the documentation, the presentation, etc.
However, IMHO, the market for something so ....... would be quite thin.
Lack of a deep pool of collectors, lack of interest overall in the series, and lack of trained eyes looking at 100,000's sitting in dark bags and boxes basically since new, so no real idea of how many are out there.
As far as price, modulating a bit from an economics lessonL
There are 4 collectors, and 3 items, all identical.
Bidding on the 1st one, collector 4 drops out a $5, collector 3 drops out at $45, collector 2 drops out at $9000, so the first one sells for $9000 to collector 1
Bidding on the 2nd one, collector 4 drops out a $5, collector 3 drops out at $45, so collector 2 gets the item for $45.
Bidding on the 2nd one, collector 4 drops out a $5, collector 3 gets the item for $5
Collector 4 sees a price drop from $9000 to $5, and goes to collect something else.
Collector 1 decides to sell, and can't even find a buyer at $5.
One of my friends had a 1 of 2 item, and was offered $10,000 for it and turned it down, as he liked being on the throne.
Until an unopened case of 48 were found, and the price plummeted to basically zero.