Surprised this 69-S DDO slipped through without mention here
ChrisH821
Posts: 6,465 ✭✭✭✭✭
It's not often one of these comes up for auction, this one just sold on GC tonight.
MS62RB, $22,350 hammer price. 
Collector, occasional seller
8
Comments
The hammer price seems awfully low for a 62.
I agree
Glad to see it drop. I never have understood the over valuation of this variety cent.
WS
In spite of the scarcity, it sold 2 years ago for $33,187 with fees and prior to that in 2017 for $32,900, and in 2013 for $41,400.
The trend on these except for the RD in higher grades has been going down. The 66RD CAC went for over $600,000 recently.
The big money only wants the best, but not the rest.
My US Mint Commemorative Medal Set
I certainly would like to own one someday, this is a bucket list variety for me. If the trend continues maybe I'll be able to justify it.
Collector, occasional seller
Seems "low"
I'll be keeping an eye on the NGC 63BN currently at SB. I suspect it will sell for a similar price as the 62RB.
https://auctions.stacksbowers.com/lots/view/3-1DU0Z4/1969-s-lincoln-cent-fs-101-doubled-die-obverse-ms-63-bn-ngc-cmq
Collector, occasional seller
I think more and more of these have been showing up over the years, some in uncirculated grades. Pops never really go down, but prices do.
Dead Cat Waltz Exonumia
"Coin collecting for outcasts..."
Back in my coin shop days (1980-2013), the most commonly seen BU rolls (and bags) of San Francisco pennies were 1968-s, 1955-s, and 1969-s, in roughly that order.
The Mint must have ‘caught’ this error pretty quickly, since the 1969-s Doubled Dies only seem to show up one or two at a time.
But since the 1969-s was widely saved, there are bound to be a lot more hiding out there.
30+ years coin shop experience (ret.) Coins, bullion, currency, scrap & interesting folks. Loved every minute!
As most of you are aware, I am a professional numismatist specializing in mint errors for over 45 years.
Recently a small group (5 pieces) were discovered in an old-time collection, certified and sold.
Then very recently, two very small groups (6-8 pieces) of this double die surfaced and are coming to market.
This will always be a famous, popular and widely collected mint error.
Estimates of known pieces range from 30 to 50. Based on these 3 recently discovered groups, the population obviously is rising.
But in my opinion, the prices will definitely settle lower, except for very high graded RED examples.
to some perhaps, I've been collecting Lincolns for over 40 years and I could care less and have zero interest in owning one of these varieties. Personally, I think calling it widely collected is a stretch, if your estimate is correct only 30 to 50 people could even own one which does not seem widely collected to me.
My Collection of Old Holders
Never a slave to one plastic brand will I ever be.
Checking the current populations, I’m seeing an even 100 total coins graded today between PCGS and NGC alone.
Sure, there are probably some crossovers, but 30 to 50 coins can’t be right. More likely 75 or more are known SO FAR.
30+ years coin shop experience (ret.) Coins, bullion, currency, scrap & interesting folks. Loved every minute!
Mike knows his stuff.
You don't just have crossovers. You also have resubmissions.
Many crossovers, many resubmissions. And some cracked out and sent in ‘raw’ to both services to be conserved ( trying to get a RB designation from a Brn, and especially a RED designation from a RB).
@jmlanzaf
Correct, as the pre-eminent active coin error dealer in the US, Mike Byers knows his stuff.
As he said, “the population obviously is rising.”
30+ years coin shop experience (ret.) Coins, bullion, currency, scrap & interesting folks. Loved every minute!
Yes. I agree. So does Mike.
But if you add the 20 new pieces to the "known" 30 or 40, you still are only at 50 to 60 coins.
There are bags of MS coins of this date still around.
And even more bags that have been "searched". Statistics still favor a tiny total population.
I wouldn't want to be one of the first 69-S DDO buyers.
Pretty soon they'll be selling rolls of them.
We have only one known number -
100 grading events by the top 2 services:
Does anybody think that’s likely to be only 50 coins, each graded an average of twice?
30+ years coin shop experience (ret.) Coins, bullion, currency, scrap & interesting folks. Loved every minute!
50 or 60.
At least two of us. There have been top pop coins in other series submitted double digit times trying to get that +. With a Red/RB/Br price difference, you could also get multiple submissions for color. And there's crossovers. It's not impossible for 50 coins to yield 75 subs just in crossovers.
Pop reports been be very misleading sometimes. I would trust Mike's knowledge more than the pop report.
From 2024 Heritage auction
This is mine, and I have definitely been thinking of sending it in for a regrade. Any thoughts on its current grade?
My US Mint Commemorative Medal Set
Nice. It is a great variety.
55?
58 brown
Thanks for your thoughts. I have had it quite a while and bought it because I liked the color and the lack of significant distractions. It is in an older 53 holder, which is why I think a submission regrade is worth a try.
My US Mint Commemorative Medal Set
This is exactly how I feel about the 1958 DDO with only 3 known. IMO it is a purposely manufactured variety with a questionable at best backstory. The 69-S DDO does at least have many documented circulation finds.
Collector, occasional seller
@Goldminers
Love the colors on the obverse! Definitely superior for the grade.
30+ years coin shop experience (ret.) Coins, bullion, currency, scrap & interesting folks. Loved every minute!
AU55?
My Collection of Old Holders
Never a slave to one plastic brand will I ever be.
I cherried TWO 69S DDO in one bank wrapped roll of 69S Cents.
Cashed the pair out for instant fast cash in early 90's.
Paid off all my college loans & bought an amazing 25 year accumulation of real errors: not varieties
& some other things on that 6c investment.
The rolls rans me 1.50 a pop when I archived them. I got so poor I looked thru the rolls before I cashed them out.
What a fun surprise & not the only interesting cherries daylighted when I searched my hoard of BU rolls...
Thanks. Currently a 53, but I do think a 55 is quite possible. Or I may try for a sticker, if not.
My US Mint Commemorative Medal Set
Damn that's amazing!
Collector, occasional seller
Pretty sure I have a handful of original 1969-S rolls squirreled away somewhere, y'all are going to make me open them, aren't you.
@Byers I am curious about the recent examples, you said one group was from an old time collection, do you know if the other coins were found recently or were they also discovered years ago and put away?
Sean Reynolds
"Keep in mind that most of what passes as numismatic information is no more than tested opinion at best, and marketing blather at worst. However, I try to choose my words carefully, since I know that you guys are always watching." - Joe O'Connor
Sean- the other 2 small groups that I referenced above were also put away decades ago. They are in choice MS condition and most have some red color remaining.
In this specific case, the pop reports on the
1969S Double Die are completely inaccurate for the reasons that I stated in my previous post.