Lincolns in PR70DCAM
Gerry
Posts: 456 ✭
Last November, David Hall responded to a question about the fact that PCGS did not seem to be using the full grading scale (grades up to 70) in grading proofs. David said “the 1985 to date coins we receive are fabulous quality and I don't understand the virtual lack of any 70s at all. It seems to me that .5% to 2% of these coins should be PR70. Now I have not looked at these coins, so I can't say for sure. however, I will encourage the graders to use the whole scale and give out the PR70 grade were appropriate.”
Put this together with the fact that the prices of Lincoln proofs, particularly the few that trade at PR70DCAM, have been quite high in recent months. I thought it would be interesting to see what has happened to the grades of Lincoln proofs in PR70DCAM since David made that statement.
A total of 5 Lincolns have graded PR70DCAM since the end of November. They include 1 1988S (bringing the total to 18), 1 1990S (bringing the total to 7) and 3 2002S (the total is 3). This is almost 0.25% of the total number of Lincoln proofs 1985-2002 graded since the end of November; in other words, about 1 of 400 of those proofs have been made PR70DCAM.
This is in sharp contrast to the fact that no Lincoln PR70DCAMs had been awarded by PCGS for the past 2 or 3 years. (However, some PR70RDs may have been; I haven’t looked into that.)
If we separate out 2002 where 3 PR70DCAMs have been slabbed, those 3 represent a little over 0.75% of the total number graded for that year; that is, 1 out of 133 graded have been given the PR70DCAM grade.
Incidentally there has been about a 100% increase in the submission of 1985-2002 Lincoln proofs per week since the end of November. Whether this is motivated by the “possibility” of 70s I do not know. However, as one dealer said, it’s still like looking for the proverbial “needle in the haystack.”
And I think it will continue to be just that, as perhaps it should be.
Put this together with the fact that the prices of Lincoln proofs, particularly the few that trade at PR70DCAM, have been quite high in recent months. I thought it would be interesting to see what has happened to the grades of Lincoln proofs in PR70DCAM since David made that statement.
A total of 5 Lincolns have graded PR70DCAM since the end of November. They include 1 1988S (bringing the total to 18), 1 1990S (bringing the total to 7) and 3 2002S (the total is 3). This is almost 0.25% of the total number of Lincoln proofs 1985-2002 graded since the end of November; in other words, about 1 of 400 of those proofs have been made PR70DCAM.
This is in sharp contrast to the fact that no Lincoln PR70DCAMs had been awarded by PCGS for the past 2 or 3 years. (However, some PR70RDs may have been; I haven’t looked into that.)
If we separate out 2002 where 3 PR70DCAMs have been slabbed, those 3 represent a little over 0.75% of the total number graded for that year; that is, 1 out of 133 graded have been given the PR70DCAM grade.
Incidentally there has been about a 100% increase in the submission of 1985-2002 Lincoln proofs per week since the end of November. Whether this is motivated by the “possibility” of 70s I do not know. However, as one dealer said, it’s still like looking for the proverbial “needle in the haystack.”
And I think it will continue to be just that, as perhaps it should be.
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Comments
As far as I'm concerned, I'd just as soon see very few more Lincolns graded as PR70DCAM. I purchased my 1992 a couple of years ago for $86 on Ebay. I know this coin is not absolutely perfect. It could easily been graded PR69DCAM. It was one of forty or fifty sent in on one order back in 1997 or 1998. (sequential numbers) all grading PR70DCAM! Mine is one of 474 PR70 Lincolns graded by PCGS. I know that at anytime they can open the flood gates like they did in 1997 and 1998 and grade another 200 or 300 of these modern proofs as perfect. I just hope that they don't. (i.e.) Keep them as PR69DCAMS like they did for 10 years in the 1980's and 1990's. You see, I just don't believe there is such a thing as a "perfect" coin in the real world and I know that to be able to distingish between a grade of 69 and a grade of 70 would be very subjective in my opinion. Steve
My Complete PROOF Lincoln Cent with Major Varieties(1909-2015)Set Registry
Now think about that folks!!
I know I'm convinced that was some ordinary Joe from the sticks that just happened to get "forty or fifty" PR-70 DCAMs all in a row.
My Complete PROOF Lincoln Cent with Major Varieties(1909-2015)Set Registry
if you broke these coins out of their respective holders what are they worth raw?
sincerely michael
My Complete PROOF Lincoln Cent with Major Varieties(1909-2015)Set Registry