R&I places unique 1957 PCGS PR68DCAM Lincoln cent
ultimatecameo
Posts: 244
I have been off the Registry chat board for many months finishing up one book while continuing work on another. We’ve been placing some neat material in that span, and plan to share the images of some of these Registry-caliber coins with our numismatic friends in this forum.
This 1957 Lincoln is a good coin to start with! A true rarity in Deep Cameo, in over 20 years of going through perhaps 100,000 or more 1957 proof sets, I have personally only found two examples that I know would have graded DCAM using the current PCGS standard, and perhaps 3 or 4 others that were potentially DCAM. That was many years ago. And none of those coins would have graded as high as Proof 68. Virtually all the proof sets of the 1950 - 1964 era have now been picked through many times over.
I have no doubt the client who owns the 1957 Lincoln PR68DCAM pictured could sell his coin for a significant profit even though he purchased it less than a year ago. Not that a true collector would consider such a blasphemous act!
Please forward any questions to either Alex (alex@ricoins.com) or myself, Rick T. (rt@ricoins.com)
For more information on this selection, please visit our online numismatic library at http://www.ricoins.com/librarypages/1957ln68dcam6606306.htm
This 1957 Lincoln is a good coin to start with! A true rarity in Deep Cameo, in over 20 years of going through perhaps 100,000 or more 1957 proof sets, I have personally only found two examples that I know would have graded DCAM using the current PCGS standard, and perhaps 3 or 4 others that were potentially DCAM. That was many years ago. And none of those coins would have graded as high as Proof 68. Virtually all the proof sets of the 1950 - 1964 era have now been picked through many times over.
I have no doubt the client who owns the 1957 Lincoln PR68DCAM pictured could sell his coin for a significant profit even though he purchased it less than a year ago. Not that a true collector would consider such a blasphemous act!
Please forward any questions to either Alex (alex@ricoins.com) or myself, Rick T. (rt@ricoins.com)
For more information on this selection, please visit our online numismatic library at http://www.ricoins.com/librarypages/1957ln68dcam6606306.htm
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Comments
two questions:
1. did you personally search through all those proof sets???
2. now a real question. what is it that makes the years 1956-1959 so difficult for true DCAM's?? the only sense that i can make of it is that while the mintage increased there wasn't a corresponding increase in the number of dies used, coupled with the fact that greater production interfered with attention to the quality of care preparing the dies.
thanks.
al h.
For some life lasts a short while, but the memories it holds last forever.
-Laura Swenson
In memory of BL, SM, and KG. 16 and forever young, rest in peace.
Good to see you posting again! Very nice coin, too!
Following in the line of some of the previous questions, I, too, am very interested in your take on the current market. It seems a bit frothy now -- do you think there is still room on the upside for nice, rare pre-1960 DCAMs? Is there any significant threat of large devaluation caused by the making of new coins (because of any grade inflation that may (or may not) be occurring)? Will the shakeups at, and future of, CU affect the value of PCGS-graded coins?
I'd love to know your take on what the future has in store for cameo coinage from the '30s-'50s.
Thanks!!
William S. Burroughs, Cities of the Red Night
HEY, if you would like to post the next thread here on the boards -
"R&I PLACES UNIQUE 2002(s) SILVER KENNEDY HALF DOLLAR IN PCGS-PR70DCAM" - just call me tonight and we'll see if we can make it happen!! The coin is by far the nicest and most perfect PR70DCAM SILVER KENNEDY I have ever seen to achieve the PCGS-PR70DCAM "perfection" grade.
1. Yes. While it can get tedious, I still get a sense of anticipation on the rare occasions unsealed sets turn up. While the likelihood of finding something extraordinary is small, you never know! It is truly "treasure hunting"! In recent years, I have one person pre-screen the sets, and I do the final screening. But there really very few fresh sets out there. Most have been looked over many times. Most - at least 90% - of the exceptional material I acquire is from individuals who have already had it graded.
2. I speculated on some of the possible reasons in my first book, "Cameo And Brilliant Proof Coinage Of The 1950 To 1970 Era".
Briefly, I believe die preparation was more a craft back then, rather than the science it is today. Every proof struck today is a Deep Cameo. Prior to the mid-1970's, I believe much depended on who was preparing the dies. There are other factors to consider, which the book covers.
Knowledge is power!!!! Have fun!
The Lincoln cent set that sold at the recent F.U.N. show belonged to a client of mine. I was most interested in his 1954 PR68DCAM, 1955 PR68DCAM, and 1956 PR68DCAM, which I had sold him a few years ago. They realized prices several times more than what I had sold coins in this grade for in the past. All the wheatbacks are truly rare in exceptional DCAM condition. But I like all the cents minted pre-1977 in exceptional DCAM when you can find them. Good luck finding a DCAM SMS!
I also placed the 1963 Lincoln PR70DCAM with the same individual. All I will say is I was as surprised as anyone at the final hammer price!
BNE -
I think the biggest concern is grade inflation. The major services do a great job, but as we all agree, its not an exact science. However, PCGS does have a cameo grading set at their office that they can use as a reference tool whenever there is a question as to whether a coin should grade PR, CAM, or DCAM. These standards are fairly objective. The key is applying the standard evenly.
The best insurance for collectors is, as always, to "buy the coin, not the holder" - to keep ourselves educated as best possible. When you look at auction results for two identically graded coins of the same date and denomination, and one sells for $500 and the other for $2,700, you can assume the grade on their holders did not tell the full story!
Hmmm... a little cut and paste here and there.... walah!
The best insurance for collectors is, as always, to "buy the coin, not the holder" - to keep ourselves educated as best possible. When you look at auction results for two identical quality coins of the same date and denomination, and one sells for $39,000 and the other for $200, you can assume the grade on their holders did not tell the full story!
TDN: Didn't you mean to say:
"When you look at auction results for two identical quality coins of the same date and denomination, and one sells for $39,000 and the other for $200, you can assume the grade on the holder tells the full story!
Wondercoin. P.S. There wasn't a "meeting of the minds" tonight and the words "done deal" were not uttered, so my UNIQUE proof SILVER Kennedy Half Dollar in PCGS-PR70DCAM is now up on ebay
Rick - Don't you think the word unique is wrongly used in describing a 1957 proof deep cameo Lincoln cent? Are you proud of selling the 1963 Proof 70 D Cameo to the customer?
Mitch - How can you possibly describe a Proof Kennedy silver half dollar as unique?
If you assume the grade on the holder tells the FULL STORY then you are an idiot.
Stewart
If you assume the grade on the holder tells the FULL STORY then you are an idiot."
Stuart: I personally describe a coin as "CURRENTLY UNIQUE" IN A CERTAIN GRADE. If anyone does not understand the difference, then they are a moron. Why talk to people in this manner?
Wondercoin. P.S. My comment of unique in this thread was simply using Rick's word to offer Rick a coin.
He probably is, as there's no way that coin looked like that when it was graded or sold the first time. A better question for Rick might be - do you agree that the new purchaser should crack the coin out and spend it before it taints his registry set forever?
Or perhaps: If this is an example of the quality of plastic holders in his collection and of the value he is getting for his money, do you feel his collection should ever be shown in a showdown?
Before I get jumped on, let me state I am a leading proponent of spending whatever one wants to spend in the pursuit of true quality, no matter modern or classic. But I do emphasize true quality! To throw any amount of money at a holder when the whole world can see the coin is overgraded by several points is not coin collecting, but rather the Registry at its worst.
Welcome back. Any of your input is certainly welcomed by most of us here.
Otherwise little probably has changed.