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$22,000 for a 1940 Lincoln Cent !!!!
STEWARTBLAYNUMIS
Posts: 2,697 ✭✭✭✭
I've heard a rumor that the highest graded 1940 Lincoln Cent was recently sold for $22,000.This must be a record price for a 1940 Lincoln Cent.Has anyone else heard about this wonder coin?I'll bet it is REALLY SPECIAL.
Stewart
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Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
Link
W-W-W-WOW!!!!!!!
Seth
After having written that, please don't copy it and show it to me in five years when I'm wrong!!!
If you don't think that 40 cent and the proof 70- 63dcam are going to loose at least 90 % of there value in the next 10 years then I wamt to have some of what your smoking [they call it mellow yellow!!!]
Les
1796 25c rainbow toned AU58 ex marvin Taichert (looked better than most MS63's) $23K
1858 seated dollar (proof only date, about 180-200 minted) NGC PR65 with lilac, lavender & blue toning $18K
1877 gold $1 NGC PF66CAM (mintage of 20) $22K
1866 Rays 5c PCGS MS66 and 1867 Rays 5c PCGS MS67 both superb, original and probably finest known
1839 Gobrecht $1 NGC PF64 attractive and cameo $24K
1802 half dime raw XF $22.5K rare !!!
1808 $2.50 PCGS AU53 $24K rare !!!
Continental dollar, CURENCY, pewter, PCGS MS62
1795 50¢ PCGS MS63 rainbow color
Those are a few of the coins I have been privileged to own for a while ...
You can draw your own conclusions about the 1940 Lincoln cent.
Sunnywood
Sunnywood's Rainbow-Toned Morgans (Retired)
Sunnywood's Barber Quarters (Retired)
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
My Complete PROOF Lincoln Cent with Major Varieties(1909-2015)Set Registry
Russ, NCNE
I don't think anyone is worried. I do think that some of us are trying to provide guidance and insight to those among us that might benefit.
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
1. These MS Lincoln pop top modern coins over the past couple years appear to have outperformed nearly every numismatic collectible, classic or modern, in the marketplace. Some have even seen upwards of 1000% returns, give or take.
2. Past performance certainly does not guaranty future results
Wondercoin
Russ - You of all people should know that coins are more pleasurable when they are profitable!
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
Mencken and Barnum probably said it best.
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
<< <i>I've heard a rumor that the highest graded 1940 Lincoln Cent was recently sold for $22,000.This must be a record price for a 1940 Lincoln Cent.Has anyone else heard about this wonder coin?I'll bet it is REALLY SPECIAL.
Stewart >>
There is no way any 1940 Lincoln Cent could be $22,000 special.
That sums it up nicely!
And, I do not miss those 39(d) MS68RD coins one bit, as I know, I would have sold them 100x over if I had held onto them, every time a new price level was established.
Wondercoin
Does anyone think only rich people with money to burn buy expensive coins ???
Does anyone think that hyping coins that aren't normally worth alot doesn't affect other collectors ???
Les
<< <i>Russ - You of all people should know that coins are more pleasurable when they are profitable! >>
Andy,
Not true! I lose money on every coin I buy, but derive great pleasure from sending them out to good homes.
Russ, NCNE
Not true! I lose money on every coin I buy, but derive great pleasure from sending them out to good homes.
Russ, NCNE >>
Russ, I only have one thing to say about your last comment.
Les
Zephyr.....isn't that the same as passing gas??
Gerry do you have that 1940 hiding under your paper bag icon????
Stewart is too tight to spend that kind of money on just one coin !
STOP IT!!
Whoever bought it is a lot bigger pisser than any of us chickens here. He or she certainly doesn't need or ask for our advice. Anyone with that kind of money to spend certainly knows the stakes. How do you know they aren't having fun?
I recently sold a low pop Lincoln to a collector to what for me seemed like a fortune. The person who bought it certainly seemed highly knowledgeable and skilled in collecting. The person certainly seemed to be having fun, and the person clearly knew what he was doing, and what was at stake.
None or us, or really anyone, has any idea what the market for low pop moderns (or classics) will do. All we know is that they have been phenomenal investments over the past few years. So, get off the pontificating and pretending you can see into the future.
Most of us don't play in these leagues, so let's not pretend we do. If you really think 22K in too high for a 1940 1c in PCGS MS68RD, then sell one there. Oh, you don't have one to sell. Surprise, case made.
Greg
Mike Printz
Larry Whitlow, Ltd.
Harlan J. Berk, Ltd.
https://hjbltd.com/#!/department/us-coins
<< <i>What would a 45-P Merc in 68FB go for? >>
If Jason were anywhere near a computer, really stupid money.
Russ, NCNE
ALWAYS the ones that everyone overlooks. The limited edition, made for collectors
super duper coins don't usually get hot because everyone who wanted one already
has one. Those who didn't get one never see them so they're less likely to develop
an interest. Being common when they are new is actually BENEFICIAL to the collect-
ibility of things. Everyone is familiar with them. Many times EVERYONE is too busy
with their coin collections for a few generations to even notice that no one is bother-
ing to set aside coins for the future. Then when they go up in value they whine and
wail about how it's all just common junk because they had tons of it when they were
a kid. They fret that the new collectors are wasting their money on things which are
poised to crash while they could be propping up or spurring the markets for real coins
like those that they personnally collect.
Is this to say that all modern coins are rare? NO! OBVIOUSLY NOT. What it means is
that for the first time there are people collecting many of these coins, for the first time
there are people collecting some coins in high grade that were not usually collected
this way in the past, and they are finding some surprising rarities. They are finding
some coins which are easy enough in unc are virtually impossible in gem. They are find-
ing coins made by the billions can be tough in unc. They are finding lots of great varie-
ties and very little known rarities. They are finding that collecting these coins is a blast.
And they are finding that many of those who didn't care about these coins when they
were new are suddenly feverish about slamming them and those who collect them.
I don't need a crystal ball to see that the future for these is bright.
spelling
I posted a bunch of images from this collection in a recent Reg forum post -- you can take your tongue out of your cheek now Stewart. I know you've already seen the pics and you know it's really special.
<< <i>Here comes the chorus again. $22K is way too much for a modern coin. Don't be fooled. These will crash.
STOP IT!!
Whoever bought it is a lot bigger pisser than any of us chickens here. He or she certainly doesn't need or ask for our advice. Anyone with that kind of money to spend certainly knows the stakes. How do you know they aren't having fun?
I recently sold a low pop Lincoln to a collector to what for me seemed like a fortune. The person who bought it certainly seemed highly knowledgeable and skilled in collecting. The person certainly seemed to be having fun, and the person clearly knew what he was doing, and what was at stake.
None or us, or really anyone, has any idea what the market for low pop moderns (or classics) will do. All we know is that they have been phenomenal investments over the past few years. So, get off the pontificating and pretending you can see into the future.
Most of us don't play in these leagues, so let's not pretend we do. If you really think 22K in too high for a 1940 1c in PCGS MS68RD, then sell one there. Oh, you don't have one to sell. Surprise, case made.
Greg >>
Greg, I for one do not take back one word of what I said because it is heart felt.
I have no gripe with modern coin designs or people collecting them, but what makes you think that people paying this kind of money are knowledgable collectors ? Could they possibly be registry point chasers who might pay whatever they can afford to move up in the rankings ????
Cladking, due you assume that everyone who feels the way I do is trying to say modern coins are bad ?
Or that collecting them is bad ? If barber coins would go up by a factor of 20 x or even 100 times between every grade point I would stay away from them to because to much of the value would be tide up in the grade on the slab, that has absolutly nothing to do with liking or not liking a certain coin or a certain coin series. I express my opionion on this issue because it's the way I feel, not to try to knock what someone else wants to collect.
However, those that want to collect at any price DO AFFECT OTHER COLLECTORS and I do consider that my buisness.
Les
1. Collect what you enjoy.
2. If your answer is that this or that will crash and this or that market will crash, then you are collecting for the wrong reason and are not a collector at all.
3. If you collect both high grade Indian cents and high grade Modern Lincolns because its the best damn coin you have ever seen and have a discerning eye for quality and grade is secondary to price, then I salute you!! , regardless of the registry craze or anything else for that matter, I recommend serious collectors do a couple of things.
1. Understand that quality rules and that grade is secondary.
2. Understand that a modern coin in high grade is also appreciated.
3. Learn how to grade in the 68-70 spectrum, because its not going away,
4. Think about the guy who paid thousands of dollars for a 1945 GEM full split band Merc , when people were laughing their heads off at him and called him an idiot.
5. Think about the guy who cared about Full steps, full bell lines, and full heads, and so called "serious " collectors called him "fussy" and "uncouth".
6. Have fun with the hobby!
Remember, quality coins are one of a kind and a sophisticated collector knows two things.
1. I may never see a coin representative of that type in this quality ever again,
2. Todays 70 is tommorrow's 68, but great eye appeal today is great eye appeal tommorrow.
You can quote me on that!
Hey, I gotta banana around here somewhere. Biggest banana in the world. $11K and it can be YOURS!!!
No one is asking you to take back anything. All I am saying is that those who play in that league are the ones who determine fair price. They buy for whatever reason they buy: registry points, coin beauty, condition rarity, ego, fun, investment or whatever. Future price will be determined by the demand of those same or similar people who buy for similar reasons. That future price could be higher or lower. I don't think we should pretend to know. All we do know is that low pop moderns and classics have done very well as an investment over the last few years.
What frankly annoys me is the pontificating by those who do not play in that game. If one doesn't collect low pop moderns, how can that person express an informed opinion. I have bought and sold low pop moderns and know very well the nature of the demand for those pieces. There is nothig simple, straight-forward, obvious, or easy about it.
Many who continue to claim that low pop moderns are over-priced do not usually have the ability to put their money behind their opinion. As such, the opinions are rather empty IMO. The way to put your money behind an over-priced view is to sell those pieces. Most talkers do not have pieces to sell. What that says to me is that those same people did not have the foresight to recognize these pieces as tremendous buy bargins a few years back. If you didn't see the value then (if you did you would now have pieces to sell), why would I believe you could see the value now.
The only value a coin really has is face, or melt value. Beyond that is collectible premium, which is always fickle and subject to change. That's what makes it fun.
Finally, Barberlover, consider mint state Barber coins (which I think are a pretty good deal). You probably believe they are well - priced and so you buy them. I happen to collect French Walkers. They are contemporary to Barber coinage, similar mintage, less-saved, lower pop, and equally or more beautiful. Yet they cost about 1/20th of the price of a similar Barber. Barber cost more because of demand factors. Those factors may not apply in the future. Low pop moderns trade based on unique demand factors, which may change either way in the future.
Greg
<< <i>I would like to hear anyone say that any lincoln cent less then 70 years old is a good deal at 20-30 K, Speak up !!!!!
>>
What exactly are you attacking here then?
You're certainly free to express your opinion and many here are probably glad you did. This
is hardly the point. While many of the attacks on moderns and their collectors are subtle or
veiled there are many others which are mean spirited and unreasoning. I don't consider val-
id criticism to be an attack at all. While your post too, is not really an attack it is wholly un-
substantiated. It is mere opinion repeated enough times that some might attach meaning to
it beyond mere opinion.
The prices for Barbers are set exactly the same way as 1940 cents; supply and demand. If
they had the same supply and demand the price structure would be the same.
It should also be pointed out that the spreads between high grade coins do not always show
all that much difference between the classics and the moderns. There are many classics which
are worth multiples for each grade point difference. If this weren't true, it wouldn't be the ef-
fect of hype or ego causing the difference, it would be supply and demand.
As for the effect of moderns on classic pricing it is a simple concept. Anything which helps one
also helps the other. When a $10,000 classic suddenly becomes a $15,000 classic then every-
one who owns this coin is $5000 richer. It is likely this money will spur further demand for coins.
When a $10,000 modern becomes a $30,000 modern then the owner of this coin has just that
much more money which can be spent on coins. How simple is that? It is the modern coins bring-
ing collectors into the hobby. It is the modern coins which are getting a lot of attention and oc-
casionally having huge gains. So why a chorus of "moderns are overpriced" everytime there is a
post about one which sells for a new high price?
Sure a reasonable man can look at this situation and say that the market is ahead of itself or
that the coins may not be scarce enough to warrant such prices, but one has to ask why there
is a steady chorus with this message. Personally I think this market is actually subdued, that
prices and interest could be far higher. Look at the facts. Equally scarce classics go for many
times as much money as a modern. This is great I have no problem with it, but just ask why.
Why does a modern with any population or mintage go for a small fraction of what it would go
for if it were an older coin. Collectors understand that age of a coin doesn't determine value, so
it must be demand. There just isn't much demand for moderns which sell at a premium and therein
perhaps lies much of the reason they go for such "high" prices. People know that there are millions
collecting these coins from circulation. People know that there will be a new generation of collectors
coming around in the next twenty years. It's little wonder that some see not only the great fun in
collecting these coins but also great opportunity if those circulation collectors decide that some nice
gems would look nice in their collections at some point in the future.
This isn't hype. There isn't hype in the modern market nearly to the degree that there is a chorus
for modern coins.
<< I would like to hear anyone say that any lincoln cent less then 70 years old is a good deal at 20-30 K, Speak up !!!!!>>
The first one that comes to mind is a PCGS 1936 PR67Red.
price does not really matter. If I had that kind of money I would buy as I pleased
and not care what anyone thought. this could be pocket change for this person
this is still a free country so I say buy what you want if you have the money
more power to you
Tim
oh and I imagine a 68fb 45-p merc would cost 50k or more
price does not really matter."
Thats it in a nut shell. Guys like that are alive and well and are blowing the lid of off the top end coin market.
Stewie: are you jealous that someone again is smater than you?????
JUST SAY NO TO WANNABES! They lurk and prey on unwitting collectors in chatrooms!
BWAHAHAHAHAHAHAHAHAHAHA!!!
There are 137 of these in 66RD with 9 finer.
HELLO LAURA,
Yeahh ! I am jealous that someone is SMATTER than me. I always knew you were raised on the streets of New York. And is it not true that you previously asked me values for common date Lincoln cents in high grade?
Bruce,
Yes I am smiling all the way to the bank each and every time I sell a duplicate,triplicate or whatever Lincoln cent.
Just what did Stewart tell you about values of common date Lincolns in high grade?
Russ, NCNE
<< <i>I would like to hear anyone say that any lincoln cent less then 70 years old is a good deal at 20-30 K, Speak up !!!!!>> >>
What about the 1955 DDO cent in MS-65RD? Easily worth that much, if not more?