Local Monthly Coin Show Report

IrishMike

Arrived early enough to have breakfast with 6 of the dealers and sat around drinking coffee shooting the breeze about nothing buy coins. Topics ran the gamut from Euros to grading and grading companies. Customer sevice issues seemed to be the main thread of discussion and unfortunately PCGS bore the brunt of most of it. One dealer did mention that he had a serious discussion with PCGS at the Central States Show in Columbus about their tight policies on Morgans. The same discussion according to him came up at PCGS, so maybe we will see some relief. I suppose if enough dealers voice that opinion they listen. The two coins that caught my eye that I didn't purchase were an Isabella, beautifully toned in an NGC 65 holder, didn't have $2300 in cash on me and a red 1877 (what else) IHC. Dealer was asking $850 for it. Nice older gentleman and we made plans to meet up at the FUN show in January and oh by the way he is holding that coin for me till next month. I see my budget evaporating for the FUN show. I did pick up two red IHC's, 1899 & 1882 for my album, have a brown set complete now, working on red & red/brown set, au/bu. Met an interesting guy who has made a lot of the top lincoln varities in ANACS holders, who I believe do the best job of attributing them. He has a 42-s dbl die MS67 top pop coin. I ended up buying a 1959 extra D inside the 2nd 9, which when he made it was a top pop coin. It is MS66 and a beauty and I love the error, also has a die chip next to the rim by the last nine. For you lincoln cent variety collectors its a wrpm #3 and the 42-s mpm #1, you can pick it up for $1700. The information you can gather along with some of the nicest affordable coins to see, make this a day I look forward to every month.

shylock

I didn't realize you have three sets of IHs going Mike -- one of each flavor. Quite an accomplishment. Do you buy some of the RD & RBs slabbed and crack them, or do you generally find the raw examples less expensive & more negotiable?

I have no idea how Lincoln collectors can keep track of all those varieties. The 59-D "D in 9" doesn't sound like your run of the mill RPM, would like to see a closeup of that!

IrishMike

Yep 3 sets and several duplicates. I have cracked out a few slabs, but mostly buy them from the dealers at the show I attend every month, they have see my lastest set and know what to look for. Three of them, who are all friends have my want list. Don't know why this so, but the Detroit area, including Livonia and Ann Arbor seems to have a lot of material. As you and I have discussed my 64 Reds, which are still affordable are in PCGS slabs, as you have said and I agree they seem to be more right on in the market. I do have one NCG Eagle Eye ms65 RB 1908,it's just a lovely toned coin that I bought from Ira. I have a segs 1908 63 because it has that purple toning to it. Oh yeah I have some raw proofs too.

I've gotten into Lincoln varieties (only have one set of them, not the varieties) because of all the reading and research that attaches to them. Besides I bent the dealers ear for an hour, I owed him a coin purchase.

toothpuller

Mike, Does Allan Williams go to your monthly show? His AA Coins is based in Livonia and as you know he has a ton of highly graded IHC's. I recently bought a 1899 MS65RD from him. He is a little slow to respond to emails and I think he might prefer to sell at shows. Anyway I was a little disappointed in the coin, not quite up to what I have been getting from Rick Snow, but decent enough to keep.

IrishMike

I am sure this show is too small for him to attend. I would like to drive up there some day and view his inventory, not sure if he has a shop or not. His prices seem to be on the high side, don't know how much negotiation he is open too. Been buying a lot of stuff from a dealer in Ann Arbor, he tells me he gets most of his material at FUN.

toothpuller

Paul, The coin I bought from AA is in their inventory as #83. I would expect it will probably remain on the website for a while. The obverse is fine which is guess is 75 % of the battle. The reverse has a couple of specks one north between the 0 and the N and one at the closure of the C. Damned if I can see those or anything resembling specks in the scan.

Don't know how I missed the 1897 66RD at Pinnacle. Its one of my regular stops. I'm curious did you look at the PCGS 1895 65RD [photo sealed] immediately preceding that coin. Do I see a big fingerprint on the reverse covering the ribbon? If not what do I see. Would put up a link but haven't grasped the technology yet.

IrishMike

Sure looks like a print on the lower reverse.

toothpuller

Thanks Mike.

toothpuller

ttt

shylock

I noticed that coin in Pinnacle's inventory, and when Heritage recently sold it as well. A shame, but still a great looking 95. On Heritage's image you see more of the print on the rim. This is a favorite spot for collectors to plant their fingers but fortunately it doesn't seem to a have a corresponding thumb print on the upper obverse. I use to own an 1862 PCGS 66 that was so bright & reflective I never noticed the print, in the same spot, until I imaged it. It showed up better with the camera the way it does for detectives under a blacklight! I had images that showed it more clearly but this is the only one I saved:



I can't make out the specs on the 1886 T2 either Toothpuller. It looks like an excellent example overall. As you probably know these usually are below average with mushy strikes, uneven toning or serious spots. The wide range of prices they sell for within each RB grade is amazing and shows how truly difficult T2s are with eye appeal.

Take a look in Heritage's 2001 Central States Sale (April) at the hoard of PCGS 86 T2 RBs that sold. The price fluctuations are incredible, with some 63RBs selling for multiples of the 64RBs. I sold all my IHs this past year except the 72, 77 & 86T2 (though I bought 1 since then), so you know how much I value a beautiful example of this type coin.