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the new 63 dcam [pricewise] is a 1912 S lincoln for 27,600 dollars. Are these people nuts ?
barberlover
Posts: 2,229 ✭
What would you lincoln fans pay for a m.s. 66 red lincoln cent assuming it had blazing red, clean surfaces, & full luster ? How about 27,600 dollars!!
From some auction prices i've seen recently I'm getting more & more convinced that value has nothing to do with why some people buy the coins they do.
But we can't say this type of thing is a fluke anymore, because it's happening to often !!!
Les
From some auction prices i've seen recently I'm getting more & more convinced that value has nothing to do with why some people buy the coins they do.
But we can't say this type of thing is a fluke anymore, because it's happening to often !!!
Les
The President claims he didn't lie about taxes for those earning less then $250,000 a year with public mandated health insurance yet his own justice department has said they will use the right of the government to tax when the states appeals go to court.
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The 12-s is almost certainly a rarity. The 63 should have many equals.
I firmly believe in numismatics as the world's greatest hobby, but recognize that this is a luxury and without collectors, we can all spend/melt our collections/inventories.
eBaystore
The 1963DCAM is not a stopper. A stopper as to what?
The reason for my tears was I thought dealers and other collectors were purposely not letting me have a chance to buy the coin since I was not in the "in" crowd. Boy, was I ever wrong. They simply did not exist.
I remember all this too well.
The 1912-S cent like some other D & S mint dates of the teens and twenties command great respect from this corner!!! No they are NOT nuts!! I seem to recall the 1914-S is even tougher than the 1914-D to find in gem reds!!
Barberlover: As I mentioned before, I was the underbidder on the 1912(s) Lincoln Cent and lost to MS68 from our boards. While $27,600 is a "healthy" bid, I could have easily bid another $5,000 or $10,000 more for this coin had I not spent so darn much money on nickel patterns for my personal collection these past 60 days. That coin is a great rarity and I am somewhat surprised at this post. In the case of the 1963 DCAM cent, the point I think that was being made was someone paying silly money for nothing other than plastic. Here, my $27k underbid was for a spectacular coin in an early PCGS-MS65RD holder I believed would upgrade to MS66RD. Here, the bidding was purely for "the coin" and not the "plastic". And, I was outbid by someone who DH described right here on the boards as one of the world class grading eyes in the biz. If that 1912(s) auction had taken place in Baltimore this Summer, I am confident that coin would not have sold for anything under the $30k's, as I would have had a much bigger "warchest" to go after it! Wondercoin
Oreville: I was so happy to recently buy a 1926(s) Lincoln in PCGS-MS65RB with plenty of RED in it and solid for the gem grade. That is the incredible alternative available IMHO. Just still a pop 8/0 coin and selling for a tiny, tiny, weenie fraction of the 65RD price. Wondercoin.
Lincoln pennies are the backbone of u. s. collector coins, but i wonder how much registry fever has to do with scarce condition rarities bringing 10 x bid?
I say that in all curiosity & sincerity because i really don't know all the factors involved. I have seen many coins lately selling for huge multiples of bid that i haven't seen to this extent in many years. Les
I firmly believe in numismatics as the world's greatest hobby, but recognize that this is a luxury and without collectors, we can all spend/melt our collections/inventories.
eBaystore
Julian: I was actually pursuing the coin to ultimately place with a customer who needed that date in MS66RD (well, actually the whole world needs that, as it is currently pop 0 at PCGS)
Wondercoin
.............indicative of a strong market as legend and others have been saying for quite some time. the naysayers still want to insist that the buyers are nuts and ignorant of scarcity/rarity/availability, possessing only deep pockets and no insight into the hobby. oreville seems to have that into perspective. regarding the "over sheet" prices being paid, consider that price is always a function of demand and avoid using words like overpriced and underpriced. it's just simple economy101 and prices will only come down when there isn't a demand.
i try to be optomistic in the face of higher recent prices required to buy the better/best coins. it'll surely cause more stuff to see the light of day and we'll all have our oppurtunity at the better/best coins when things slacken off a bit. being patient and waiting for that might not be easy, though!!
al h.
I do feel that registry fever and the friction of bidding wars at auctions contribute to this to.
Les
Once you get stopped by a stopper, it puts a bad taste in your mouth for years and move on to other sets. Someday, I will have that red 1926-S cent but other coins currently attract me more hence my coolness towards the 1926-S cent. Sort of like a spurned lover. But will change when I an good and ready.
The same thing happened with me and the 1955 DDO gem mint state red cent. I had to have the best. But it only took me 26 years from the first time I first fell in love with it to the time I pounced on it in 1997. Sure, I bought 6 other 1955 DDO cents in different grades but I realized it was not the one I really wanted. That AS STRUCK condition is a real siren for me.
Keets, I do try to be careful as well; paying 10x for a coin as compared to the greysheet is not my style. If I ever pay that much for a coin then there better be a damned good reason for it. But there are always special circumstances as I have outlined before. It may be the coin that completes a set for a particular collector.
Oreville: You are usually more open-minded. Come on - let's assume a 65RD is 90% RD and worth $100k+ and let's assume a 65RB is 85% RED and worth under $10k. Are you telling me, an 85% RD coin simply won't cut it for you at a $90,000 savings??? I am surprised
Wondercoin
In my scenario, red is much more important than the grade assigned. All of my other cents are 95% red or better even if not necesarily gem mint state.
In your scenario, I would prefer a pristine MS-63 or MS-64 full red than the redbrown MS-65.
Look, that is now happening even in the 1942/1 dimes, the MS-64FB is stronger than the MS-65 non FB. It was not always this way.
As you know full well,there are some coins with the eye appeal that commands well over price guide values.There are coins I'm sure you've paid more than price guide prices.
Registry 1909-1958 Proof Lincolns
<< <i>Look, that is now happening even in the 1942/1 dimes, the MS-64FB is stronger than the MS-65 non FB. It was not always this way. >>
True but people are more brainwashed now into thinking they just "got" to have that extra bit of metal on the bands. A RED Lincoln Cent is the represents the WHOLE coin at least.
If I were you Oreville and REALLY wanted a RED example I'd go for a nice cherry-picked MS63 or 64 RD. Save some dough....
jom
What i've been observing more and more in the last 12 months are world record prices that used to only happen for 6 and 7 figure coins now happening in many more less expensive areas. If this trend continues. mqany of us who bought coins instead of stocks over the last few years might end up very very happy !
It wil be interesting to see if the new 5 figure coins that where 4 or even 3 figures a few years ago hold there values or even keep going up over time.
I am glad i bought my favorite coins between 1999 & 2002 because i don't think that even if i could find those pieces again, that i could replace most of them for what i paid.
I am an objective observer right now because i'm on the sidelines but my gut is telling me that mint state type coins, especially properly graded seated & barber type, that to this point is still around there record lows since slabbing began in the mid 80's is the best value in the hobby right now and i'm saying this knowing i can't buy anymore right now. Les