1953(s) Franklin Half Dollar (PCGS-MS66FBL)

wondercoin

DAVID HALL WRITES: "Actually, it's now pop 2 for the MS66 FBL, not MS67. Not sure about the changes...my guess is that the original coin was resubmitted for upgrade and the owner took his time sending us back he old cert. I thought there was only one MS66...maybe another has been made...I'm sure Rick Tomaska, David Schweitz and/or Mitch Wonder Coin would know. Mitch, can you enlighten us??? "

I personally believe the 1953(s) Franklin Half in PCGS-MS66FBL is still a pop 1/0 coin. Here's why:

1. The underbidder on the $69k sale of that coin was fortunate enough to win the coin the second time around for less than $40,000 when it resold at auction. I was told this by the collector who claims to have won the coin the second time around.

2. This collector appears to have resubmitted the coin for upgrade shortly after winning the coin at auction (I believe at the Baltimore show over a year ago). There was a glitch in the PCGS system and when PCGS regraded the coin MS66FBL again, for the second time, PCGS failed to remove the original serial number from the database. How does the collector know this? Because he told me when the coin came back MS66FBL again, the new serial number shows as a proper PCGS coin. AND, WHEN YOU PUNCH IN THE OLD SERIAL NUMBER, THAT ALSO SHOWED AS A PROPER COIN! Hence, 2 serial number in the system for a single coin.

3. The collector told me several other important low pop Franklins he was trying to upgrade at that show all had the same thing happen - they did not upgrade but the pops went up -1- and never came back down.

4. This collector has always struck me as a 100% honest and reputable guy. I believe his story that simply for a brief time last year there was a glich in PCGS' system and regrades resulted in new serial numbers being issued but the old numbers not coming off the database and pop report. Actually, I would suspect it would be pretty easy for PCGS to research the current serial number for the 1953(s) Franklin Half in MS66FBL and confirm the coin was submitted for regrade at a major show. Once PCGS did this, it could refer to the prior serial number from that submission form and confirm the coin is one in the same.

Hence, based upon my direct conversation with the current owner of the 1953(s) Franklin Half Dollar in PCGS-MS66FBL, I believe the coin is, indeed, a Pop 1/0 coin at this time. Of course, if another 1953(s) Franklin in PCGS-MS66FBL was recently slabbed, that might be another coin.

David - I hope this helps.
Wondercoin

LucyBop

Good info, what a dream it would be to own this Frankie!

gmarguli

what a dream it would be to own this Frankie!

Or a nightmare if you were the guy who paid $69,000 and sold it a few months later for ~$30,000 less.

I still wonder what went on in the mind of that guy to pay that kind of money and then resell it a short time later.

LucyBop

I would never sell it!!! If it went upto 200k I wouldn't sell, if it plumeted to 1 dollar I'd try to buy another.

wondercoin

The current owner of the 53(s) Franklin in PCGS-MS66FBL has a spectacular Franklin collection and the 53(s) becomes the ceterpiece to the collection. I suspect the 53(s) is worth a great deal more money in the collection it is in, as opposed to a single coin in another collector's hands. I know the current owner feels very fortunate to have been able to pick it up for less than $40k the second time around. And, for all we know, he may have been prepared to bid a whole lot higher, but simply was not challenged that particular evening.

This is the problem one faces in trying to do a price guide concerning the "pop 1" key coins to a series. Let's say the current owner was prepared to bid $80,000 the second time around, but was only required to pay under $40,000 because no other collectors challenged him that particular evening and the first guy who paid close to $70k needed to sell the coin for whatever reason (possibly personal in nature). So, what is the "value" of the coin: $70k? $40k? $80k? Or any other price? It appears to me, it is almost impossible at times to accurately "value" the important "pop 1" coins, as they are truly worth just about anything someone else wants to pay. And then again, they are also worth just about any price someone is willing to sell them for if their personal circumstances dictate a sale.

Wondercoin.

zenny

thanks, Wondercoin. sounds like that's the whole beautiful/ugly truth.
z

Conder101

I wonder sometimes if the reason the 53 S MS-66 FBL fell back to the $40,000 level is because that was where the second third high bidder stopped the first time it sold. When it sold the second time the original high bidder wasn't there to keep pushing the price up it sold just above the old third high bidders comfort level.

This can sometimes happen when high value low population coins sell at auction more than once in a relatively short time. I was under the impression though that the second specimen was made BEFORE the second sale of the first one because after the price dropped so much there was discussion questioning whether or not the making of the second one was the reason for the price drop.