@TomB said:
It's not my coin and I'm not certain how much emotional attachment the owner has for the piece. However, it appears the owner has a fairly high level of emotional attachment to it, but I would suggest to take Mitch (@wondercoin) up on his offer and at least enter into dialogue with him. This may become a painless and quick transaction that might leave a few dollars on the table, but that should make up for that in its convenience.
Good luck to both parties.
I'm not sure "emotional attachment" is the issue. He hasn't owned the coin for long and started trying to sell it the minute it was "made". It's more about "financial interest" as I see it. His right, of course, as the owner to get what he wants for it. However I think he's letting his ownership cloud a more objective assessment of its value.
I had no idea you started the coin at $4800 on the auction. Where’d that number come from, and didn’t anyone anywhere suggest to start at $1? I think you overthought this coin, and you’re gonna start to get hosed on the true value in the end. Even if you tell Ian to drop the auction price to $1 and let it go unreserved now, it’s gonna suffer.
This mistake (imo) is gonna cost you $1000. But everyone pays tuition in the coin business.
The 86P & 86-D PCGS MS69RD Lincolns bring $25,000 for the pair (GC Auction Archives). Seems that $4800 would be a welcome relief to the registry set participant who aspires to build the No. 1 or No. 2 set of Lincoln Memorial Cents.
‘’The 86P & 86-D PCGS MS69RD Lincolns bring $25,000 for the pair (GC Auction Archives). Seems that $4800 would be a welcome relief to the registry set participant who aspires to build the No. 1 or No. 2 set of Lincoln Memorial Cents.’’
You are leaving out a few steps! Like the 86-D dropping from $12,000 to under $4,000 over 2 subsequent auctions within about 60 days of each other (3 total GC auctions). Maybe the owner of the pair you mention quickly grew tired of losing $8,000 out of $12,000 in 60 days on just 1 of the coins? Or, maybe he didn’t. Ian has been know to work with one arm tied behind his back before.
Best I can see, coin runs again at same $4,800 for next couple weeks. Look what happens to pricing when just a few more get graded (look no further than 1985-D one year earlier that is now a sub $2,000 coin)! I surely had zero interest to buy the coin on Tuesday for $4,800 hammer in the hopes I could convince one possible guy to continue to put money into the “money pit’’ of “low pop” MS Memorial cents from the 80’s! But, now that the coin is back up for auction once again, I move on to other completed sales and wish Ian the best marketing the coin yet again.
Just my 2 cents.
Wondercoin.
Please visit my website at www.wondercoins.com and my ebay auctions under my user name www.wondercoin.com.
‘’Just curious what the current owner of the 86P & D P69RD Lincoln Cents thinks now?’’
It would make for a good interview if we invited the Bitcoin (coin) owners to join in too! Lol. But, who am I to talk owning Disney stock down nearly 50% off it high in the past 18 or so months. ‘’Go woke, go broke”.
Wondercoin
Please visit my website at www.wondercoins.com and my ebay auctions under my user name www.wondercoin.com.
@wondercoin said:
‘’Just curious what the current owner of the 86P & D P69RD Lincoln Cents thinks now?’’
It would make for a good interview if we invited the Bitcoin (coin) owners to join in too! Lol. But, who am I to talk owning Disney stock down nearly 50% off it high in the past 18 or so months. ‘’Go woke, go broke”.
I see your concerns about the spot on the coin in the photo, and I reviewed photos I took of the coin right before I mailed it to GC, and there is no spot on the coin.
I believe that white spot in the GC photo is a light reflection, and I’ve emailed Great Collections to ask them to take a new photo of the coin and update their website accordingly.
I see your concerns about the spot on the coin in the photo, and I reviewed photos I took of the coin right before I mailed it to GC, and there is no spot on the coin.
Excuse the pixelation, but you can see the spot in your photo. Here is a blowup of the area in both your photo and the TrueView.
I learned my lesson about high grade purchases a while back. As a seller of this kind of material the ball is in your court. However buyers usually take a hit time after time until it becomes a hundred dollar coin. Beware modern top pops and don't forget the coin is zinc.
Thanks for your feedback, the spot isn’t nearly as bad as it looks in the GC photo, I have other coin photos with reflection white spots, it’s clearly a reflection white spot.
Thanks for your feedback, the reason I don’t sell coins at $1 is because the coin market is fluid, and I’d rather hold on to a rare coin until the market flows back in the direction then sell it for less than what it’s worth.
I’m in no rush to sell, so I’ll wait.
The GC photo is incorrect though; the coin is not perfect, which is why it was graded 69 and not 70, I’ll post new photos and go with a different auction house in 2023.
@Davidcoins said:
Thanks for your feedback, the reason I don’t sell coins at $1 is because the coin market is fluid, and I’d rather hold on to a rare coin until the market flows back in the direction then sell it for less than what it’s worth.
Nobody is suggesting you should sell the coin for a dollar. It's worth what it's worth. Today, tomorrow, whenever...
@Davidcoins said:
I’m in no rush to sell, so I’ll wait.
Earlier you said you needed the money for college. Perhaps that explains some of the advice you have received?
@Davidcoins said:
Thanks for your feedback, the spot isn’t nearly as bad as it looks in the GC photo, I have other coin photos with reflection white spots, it’s clearly a reflection white spot.
Thanks for your feedback, the reason I don’t sell coins at $1 is because the coin market is fluid, and I’d rather hold on to a rare coin until the market flows back in the direction then sell it for less than what it’s worth.
I’m in no rush to sell, so I’ll wait.
The GC photo is incorrect though; the coin is not perfect, which is why it was graded 69 and not 70, I’ll post new photos and go with a different auction house in 2023.
The photo on Great Collections is not correct.
Nobody is worried about the white spot on the holder under the letters “TY” in liberty, they are worried about the black copper spot on the edge of the coin to the left of the word “Liberty”.
If you think the white spot is what caused your coin not to sell at a starting price of $4800 plus auction house fees, you clearly are getting bad information. I’m still curious to know who & where that $4800 starting price number came from? Did greatcollections choose that number as 50% or 80% of value starting bid price, or did you write that number on the form?
‘’Thanks for your feedback, the spot isn’t nearly as bad as it looks in the GC photo, I have other coin photos with reflection white spots, it’s clearly a reflection white spot.
Thanks for your feedback, the reason I don’t sell coins at $1 is because the coin market is fluid, and I’d rather hold on to a rare coin until the market flows back in the direction then sell it for less than what it’s worth.
I’m in no rush to sell, so I’ll wait.
The GC photo is incorrect though; the coin is not perfect, which is why it was graded 69 and not 70, I’ll post new photos and go with a different auction house in 2023.
The photo on Great Collections is not correct.”
DC: First, my observations on the spot came from Truview pics, not GC pics. As someone else mentioned here as well. Also, on 12/23, you stated here in your posting that there was “no spot on the coin” at all. The next day, on 12/24, you stated here the “spot isn’t nearly as bad as it looks” in the pic. Which one is it? Lol. Tough crowd?
FYI- My guy who lot views GC coins for me (who has no idea we are even talking about the coin) said: “1987 Lincoln Cent (PCGS-MS69RD) - [-543]
[A COUPLE SCRATCHES IN HEAD AND AT 9PM ON OBV; TOUCH LACKLUSTER ON OBV; OVERALL LOOKS SOLID ENOUGH AS 69, BUT MORE LOW-END OVERALL]”.
My prediction (you heard it here first) - the pop keeps rising on this particular date in 69RD and we eventually see a sale in the $2,000 - $2,500 range.
“Go with a different auction house in 2023” - 😆 😳
Wondercoin
Please visit my website at www.wondercoins.com and my ebay auctions under my user name www.wondercoin.com.
Comments
I'm not sure "emotional attachment" is the issue. He hasn't owned the coin for long and started trying to sell it the minute it was "made". It's more about "financial interest" as I see it. His right, of course, as the owner to get what he wants for it. However I think he's letting his ownership cloud a more objective assessment of its value.
I used "emotional attachment" as a catch-all for what you have touched on and any other hesitancy to sell the coin.
In honor of the memory of Cpl. Michael E. Thompson
Sell it while you can before more people crack wise as to what they're bringing and start gang subbing out of rolls...
Edit to add... HA likely would gross you the most if placed in the right auction, but also would likely cost the most in fees.
RIP Mom- 1932-2012
I had no idea you started the coin at $4800 on the auction. Where’d that number come from, and didn’t anyone anywhere suggest to start at $1? I think you overthought this coin, and you’re gonna start to get hosed on the true value in the end. Even if you tell Ian to drop the auction price to $1 and let it go unreserved now, it’s gonna suffer.
This mistake (imo) is gonna cost you $1000. But everyone pays tuition in the coin business.
The 86P & 86-D PCGS MS69RD Lincolns bring $25,000 for the pair (GC Auction Archives). Seems that $4800 would be a welcome relief to the registry set participant who aspires to build the No. 1 or No. 2 set of Lincoln Memorial Cents.
‘’The 86P & 86-D PCGS MS69RD Lincolns bring $25,000 for the pair (GC Auction Archives). Seems that $4800 would be a welcome relief to the registry set participant who aspires to build the No. 1 or No. 2 set of Lincoln Memorial Cents.’’
You are leaving out a few steps! Like the 86-D dropping from $12,000 to under $4,000 over 2 subsequent auctions within about 60 days of each other (3 total GC auctions). Maybe the owner of the pair you mention quickly grew tired of losing $8,000 out of $12,000 in 60 days on just 1 of the coins? Or, maybe he didn’t. Ian has been know to work with one arm tied behind his back before.
Best I can see, coin runs again at same $4,800 for next couple weeks. Look what happens to pricing when just a few more get graded (look no further than 1985-D one year earlier that is now a sub $2,000 coin)! I surely had zero interest to buy the coin on Tuesday for $4,800 hammer in the hopes I could convince one possible guy to continue to put money into the “money pit’’ of “low pop” MS Memorial cents from the 80’s! But, now that the coin is back up for auction once again, I move on to other completed sales and wish Ian the best marketing the coin yet again.
Just my 2 cents.
Wondercoin.
Just curious what the current owner of the 86P & D P69RD Lincoln Cents thinks now?
‘’Just curious what the current owner of the 86P & D P69RD Lincoln Cents thinks now?’’
It would make for a good interview if we invited the Bitcoin (coin) owners to join in too! Lol. But, who am I to talk owning Disney stock down nearly 50% off it high in the past 18 or so months. ‘’Go woke, go broke”.
Wondercoin
Don't feel badly, I own Alibaba. LOL
I see your concerns about the spot on the coin in the photo, and I reviewed photos I took of the coin right before I mailed it to GC, and there is no spot on the coin.
I believe that white spot in the GC photo is a light reflection, and I’ve emailed Great Collections to ask them to take a new photo of the coin and update their website accordingly.
Hopefully they will update it soon…
@ianrussell
Congratulations on your find and good luck with the auction.
Excuse the pixelation, but you can see the spot in your photo. Here is a blowup of the area in both your photo and the TrueView.
- Bob -
MPL's - Lincolns of Color
Central Valley Roosevelts
Other than the coin not selling a couple more times, anything new?
Why not tell Ian to open it at $1 and sell it for the proper level?
Wondercoin
I learned my lesson about high grade purchases a while back. As a seller of this kind of material the ball is in your court. However buyers usually take a hit time after time until it becomes a hundred dollar coin. Beware modern top pops and don't forget the coin is zinc.
Thanks for your feedback, the spot isn’t nearly as bad as it looks in the GC photo, I have other coin photos with reflection white spots, it’s clearly a reflection white spot.
Thanks for your feedback, the reason I don’t sell coins at $1 is because the coin market is fluid, and I’d rather hold on to a rare coin until the market flows back in the direction then sell it for less than what it’s worth.
I’m in no rush to sell, so I’ll wait.
The GC photo is incorrect though; the coin is not perfect, which is why it was graded 69 and not 70, I’ll post new photos and go with a different auction house in 2023.
The photo on Great Collections is not correct.
Nobody is suggesting you should sell the coin for a dollar. It's worth what it's worth. Today, tomorrow, whenever...
Earlier you said you needed the money for college. Perhaps that explains some of the advice you have received?
Nobody is worried about the white spot on the holder under the letters “TY” in liberty, they are worried about the black copper spot on the edge of the coin to the left of the word “Liberty”.
If you think the white spot is what caused your coin not to sell at a starting price of $4800 plus auction house fees, you clearly are getting bad information. I’m still curious to know who & where that $4800 starting price number came from? Did greatcollections choose that number as 50% or 80% of value starting bid price, or did you write that number on the form?
Pigs get fat, hogs get slaughtered
‘’Thanks for your feedback, the spot isn’t nearly as bad as it looks in the GC photo, I have other coin photos with reflection white spots, it’s clearly a reflection white spot.
Thanks for your feedback, the reason I don’t sell coins at $1 is because the coin market is fluid, and I’d rather hold on to a rare coin until the market flows back in the direction then sell it for less than what it’s worth.
I’m in no rush to sell, so I’ll wait.
The GC photo is incorrect though; the coin is not perfect, which is why it was graded 69 and not 70, I’ll post new photos and go with a different auction house in 2023.
The photo on Great Collections is not correct.”
DC: First, my observations on the spot came from Truview pics, not GC pics. As someone else mentioned here as well. Also, on 12/23, you stated here in your posting that there was “no spot on the coin” at all. The next day, on 12/24, you stated here the “spot isn’t nearly as bad as it looks” in the pic. Which one is it? Lol. Tough crowd?
FYI- My guy who lot views GC coins for me (who has no idea we are even talking about the coin) said: “1987 Lincoln Cent (PCGS-MS69RD) - [-543]
[A COUPLE SCRATCHES IN HEAD AND AT 9PM ON OBV; TOUCH LACKLUSTER ON OBV; OVERALL LOOKS SOLID ENOUGH AS 69, BUT MORE LOW-END OVERALL]”.
My prediction (you heard it here first) - the pop keeps rising on this particular date in 69RD and we eventually see a sale in the $2,000 - $2,500 range.
“Go with a different auction house in 2023” - 😆 😳
Wondercoin