What is the big deal with the 1943 Steel Cent in AU58?

USMC_6115

I'm just browsing Ebay for a replacement Steel Cent for my Dansco and I came across a couple of the above cents with premiums higher than UNC examples. What am I missing?

1630Boston

I don't know, perhaps someone here [expert] can elaborate.
Maybe the eye appeal in that grade.
just thinking
boston

1630Boston

PS it is EBAY though

morgandollar1878

Everyman Registry sets, nothing can be graded higher than AU58+.

P0CKETCHANGE

Are they actually selling at higher premiums, or is the sample perhaps composed of overly optimistic sellers?

USMC_6115

Here's one:

https://www.ebay.com/itm/1943-1c-Lincoln-Steel-Wheat-Cent-PCGS-AU-58/303831490877?ssPageName=STRK:MEBIDX:IT&_trksid=p2060353.m1438.l2649

Here's another not even as nice:

https://www.ebay.com/itm/1943-S-1c-Lincoln-Steel-Wheat-Cent-PCGS-AU-58/333847879009?ssPageName=STRK:MEBIDX:IT&_trksid=p2060353.m1438.l2649

You can get one in MS much cheaper..

P0CKETCHANGE

I pulled the pop report on PCGS. Looks like they are condition rarities, at least relative to the MS coins. Given the novelty of the dramatic metal change, a ton were set aside in mint condition. The ones that got spent circulated heavily. The folks chasing these in AU may be building "everyman" sets — the ironic part is that these actually cost more, as OP pointed out.

Mr_Spud

It’s for circulated registry sets and also because many AU58s look nicer than MS64

P0CKETCHANGE

@Mr_Spud said:
It’s for circulated registry sets and also because many AU58s look nicer than MS64

True, but for the price of the one @massscrew posted (bidding up to $200 currently), you could get an MS67 cheaper.

USMC_6115

Thanks... I was thinking maybe registry related. I also remember someone here had a bounty for one, but I never expected that type of a following.. WOW!

USMC_6115

Anyway, I'm gonna go post a WTB in the BST for a decent looking one.. The one in my Dansco has turned some nasty colors

Flatwoods

Try finding a PCGS VF30 example.
I'd love to have one but they are scarce.

Mr_Spud

@P0CKETCHANGE said:

@Mr_Spud said:
It’s for circulated registry sets and also because many AU58s look nicer than MS64

True, but for the price of the one @massscrew posted (bidding up to $200 currently), you could get an MS67 cheaper.

That is crazy then. Probably a couple people trying to fill one of their circulated/Everyman registry sets who have more $ than brains

USMC_6115

$412.88 for that coin!!!!

scotty4449

Wow, I had no idea. That is crazy!

AlanSki

I have a 1911 P AU58 cent with a pop of 36. I'm sure I could sell it over $150 if I really wanted to.

ms70

There was a nice PCGS triple holder P D S set in MS65 I saw on eBay today when I was looking for something to do with my eBay bucks..... I know you're looking for your Dansco but you might like the 3 coin set. It was pretty cool.

golden

They are needed for the Everyman Type Set and Lincoln Cent Set. Try and find a 1943 Cent in PCGS AU 58. It took me several years to find one.

oih82w8

I would like to see the AG03 one!

A 1943-P 1C in AU58+ has a PCGS Trends value of...$1.00 With a population of 1.
https://www.pcgs.com/cert/40177883

ricko

Wow... I have a couple of OBW's of '43 cents, I opened one a couple years ago and they are pristine. I guess I should do some mild circulation in my pocket and sell them as AU58's... Cheers, RickO

291fifth

They are catering to a collecting trend, that, while stupid, has gained popularity due to online promotion and hype.

WaterSport

It's an incredibly difficult coin to get graded AU 58. If you don't think so, then go buy some and submit them. One of our fellow collectors here even posted on the BST that he would pay a premium to get one after loosing $$$ on submission fees to get one graded himself.

WS

Coinscratch

Contact nuance_numismatics on the bay, he recently told me he had some really nice rolls. I didn't buy them or even look at them but, it could be what your looking for.

DCW

As others have said, registry driven madness.

amwldcoin

How can a Zinc Plated Steel Penny grade BN or RB?

Edit to add...I quickly realized my duh moment as that report includes the Bronzes!

@P0CKETCHANGE said:
I pulled the pop report on PCGS. Looks like they are condition rarities, at least relative to the MS coins. Given the novelty of the dramatic metal change, a ton were set aside in mint condition. The ones that got spent circulated heavily. The folks chasing these in AU may be building "everyman" sets — the ironic part is that these actually cost more, as OP pointed out.

seanq

Funny, I never used to have problems getting AU58s when I was submitting coins I thought were mint state to PCGS.

@Flatwoods said:
Try finding a PCGS VF30 example.
I'd love to have one but they are scarce.

I'd love to make you one, but I cannot imagine the return is worth it when they cost ~$30 to get certified and are worth ~$3 if they miss the target.

Sean Reynolds

oldabeintx

I've got some nice raw MS steelies around somewhere. Maybe I'll put a few in my pocket for a week or so and send them in if they still look nice. Absolute and utter insanity.

stockdude_

Some people collect slabs as well as coins

golden

The same seller has listed another 1943 Cent in PCGS AU 58 on Ebay with a starting bid of $99. It has a consecutive number with the one that sold for $412.98. I wonder how many of these has?

oih82w8

@golden said:
The same seller has listed another 1943 Cent in PCGS AU 58 on Ebay with a starting bid of $99. It has a consecutive number with the one that sold for $412.98. I wonder how many of these has?

40721464 thru 40721467 are 1943 1C AU58's.

Hallco

Would it grade 58 if someone was to crack a 64 and slide it across a table top a few times the way we used to play paper football when we were kids? MS with a little rub on the high spots?