Lincoln cents: double nuclear?

coolkarma

While wondering whether some of my NGC Lincoln cameo proofs would cross to my PCGS registry set, I decided to check out the pricing at auction for PR66 PR67 Cam 1951 and 1952's. Teletrade was a little help (8 months ago a 1952 PR66 Cam sold for $750; 20 months ago a 1951 PR66 Cam sold for $500; nothing more recent).

I then checked Heritage. Nothing for a 1952, but in the ANA Signature sale, a 1951 PR67 Cam sold for $2300. Interesting. Then I noticed another 1951 PR67 Cam sold in the March Long Beach Signature sale for $10,350! An impressive price and an impressive difference. Even more impressive because it was the same coin!

Does anyone know the story here?

CoolKarma

redcents

"1951 PR67 Cam sold for $2300. Interesting. Then I noticed another 1951 PR67 Cam sold in the March Long Beach Signature sale for $10,350"

Doesn't that say it all! We've all been hoodwinked & hyped to death with these things! The 1951 is NOT an isolated incident. A 1978-S PR70DCAM went for near $15k on Heritage a while ago & only $1,300 or so recently. A 1997-S as high as $3,410 and recently $365! Sure, a few very low pop/ultra rares have still set records but many are going for 10-20 cents on the dollar of past highs. I'm actually going to start a thread showing past high/lows for ALL 50-date proofs in the next week or so ALONG WITH MY BUY PRICES FOR TOP POP (or close to it) for them all. All I can say is buy, buy, buy. FYI, I had a 51 in NGC 67Cam that PCGS wouldn't even cross as a cam at all. Anyway, if you get yours to cross I'll gladly pay you the $2,300.

Take Care,

Roger

LincolnCentMan

If the number of strong buyers that want the coin - number of strong buyers that dont see the coin is < 2 then the coin goes for "dirt" money.

David

IrishMike

Just some added food for thought, what do you think those same coins would sell for if there wasn't a registry to put them in? I am not criticizing the registry but I am way old enough to remember when they sold for very little. Perception is indeed reality.

merz2

I feel I have to reply to this,since I feel I started it all.Someone recently asked my opinion on a DCAM mid 1950's coin.I responded by say that because of the mintage and the possibility of more being made that the coins value IMHO was $2,500 to $5,000.I truely believe this is a fair value.

wondercoin

It is not uncommon in most 20th century series for there to be huge swings on low pop coins from one auction to the next. Look no further than the 53(s) Franklin, which traded at $69k and then for around $35k as I recall a short while later. I suspect the coin might command a price between those 2 points if offered out today.

Speaking specifically on Lincolns, the early MS wheat coins have really performed exceptionally well and there are no "20 cent on the dollar" bargains on those best I can tell. For example, I sold a collector an MS Lincoln a few years ago and offered to buy it back for a $20,000 profit yesterday. That is the norm (nice returns thus far) I believe, whereas the late 1950's - date proof Lincolns may very well drop in price (some bigtime) from recent levels, in part because IMHO, I simply do not believe the post 1976 Lincolns in particular are all that "rare".

Wondercoin

redcents

"I feel I have to reply to this,since I feel I started it all.Someone recently asked my opinion on a DCAM mid 1950's coin. I responded by say that because of the mintage and the possibility of more being made that the coins value IMHO was $2,500 to $5,000.I truely believe this is a fair value."

Don, what date & grade were you talking about? As many know, wheat DCAM's are OVER 100 times rarer than Memorial DCAM's.