You know, it looks like the "stupid" buyer of the $39,100 1963 Lincoln may have the last l

Russ

With better than five days to go, he's already close to breakeven on the coin.

Russ, NCNE

Lakesammman

Wish it was like ebay so we could know.....is it Stewart??

sinin1

does seller get a 5%-10% cut to auction house?



edited to add - they probably read these boards but never wanted to admit they own it

Russ

sinin1,

I believe this owner is selling his entire #1 ranked set. If that's the case, it's unlikely he's paying any commission. If he is, he's not a very good negotiator.

Russ, NCNE

dbldie55

I must be reading a different auction. I see it at $38,000 which is less than before (read loss). Sure, there is a buyers fee, but that goes to Heritage and not the seller (unless they made some other deal ahead of time).

But at the rate this is going, it will probably break that amount.

Russ

<< <i>I must be reading a different auction. I see it at $38,000 which is less than before (read loss). >>



It sold for $34,000 the first time. The $39,100 is with the juice. It's at $43,700.00 with the juice right now.

Russ, NCNE

danny72170

It's still a loss for the seller if he/she paid a total of $39,100 and will receive only $38,000 for it. In any event it will at least break even for the seller eventually.

Russ

OOPS! You guys are right. I need more coffee.

Russ, NCNE

clw54

If he makes a profit, it won't be so much a last laugh as a sigh of relief.

jbsteven

I know this has been said but the coin has SPOTS on it! I hope the bid is PCGS trying to buy the coin (insert)to get the insert off the market.

Russ

<< <i>If he makes a profit, it won't be so much a last laugh as a sigh of relief. >>



In the thread about this on the registry forum I said that I thought the coin wouldn't even be bid to $5K. Man, was I off on that too.

On the upside, it looks like I will be unloading the dog Accented Hair prize in my guess the price contest.

Russ, NCNE

meos1

I must be doing something wrong....

40K plus for a modern penny? Now I realize this is a really PQ coin but come on! My Dad collected rolls in the sixties. I might have thirty plus rolls of pennies spread across the decade. Am I to think that I can "make" a high grade darling at PCGS and achieve 40K??? Something ain't right. Maybe I should get those rolls out and cull through them?

Dan

jom

<< <i>If he makes a profit, it won't be so much a last laugh as a sigh of relief. >>



Exactly but now we can rag on the guy who paid $43,000 for it. lol

jom

jbsteven

could this be the making of a "new" classic rarity?

Russ

<< <i>Now I realize this is a really PQ coin but come on! >>



Dan,

The thing is that it's NOT a PQ coin. It's an absolute piece of crap.



Russ, NCNE

wondercoin

I just bought a lovely 1963 Lincoln cent in PCGS-PR69DCAM for just under $200. THE JUMP UP IN GRADE IS NOW AROUND 215X AND RISING.

Darn, my PR69DCAM looks good at $200!

Wondercoin

TAP444

if he is selling the entire set, I bet he gets at least %103 of hammer
if not a little more. so he may break even
Tim

jeffnpcb

If it is sold, I want too see it returned for a review! Then I want to see what price the coin is really worth!!
If a '63 PR69DCAM is at $600 on the PCGS price guide, which is out of range, that would be a $39,400 loss if it sells for 40k!
The plot thickens!!!!

Barry

If returned for review, how quickly do you think a few more recently graded 70's will appear on the market?

airplanenut

<< <i>If a '63 PR69DCAM is at $600 on the PCGS price guide, which is out of range, that would be a $39,400 loss if it sells for 40k! >>

I doubt it would make 67DC... or even DC...

tjkillian

With $40,000+ dollars I can imagine all of the Indian Head cents one could buy. To me, this is really unbelievable. For someone who is smart enough to have an extra 40 grand, I cannot believe they would spend it on this. I guess my brain is too small to understand.

Tom

eagle7

This may just be the reserve. I am not convinced it will actually sell at all. We will see!

Russ

<< <i>This may just be the reserve. I am not convinced it will actually sell at all. >>



The reserves in the auction kicked in yesterday. The cent went to $35,000 when they did. This is a new bid above that.

Russ, NCNE

Rampage

Even if the seller takes a $1,000 or so loss on the coin, he is still lucky he is getting what he is getting.

I agree, the coin does not even look DCAM, much less proof 70. If I graded it, I would grade it at proof 66 or proof 67. It does not even look CAM to me.

dbldie55

There are $1,000 bid increments. If it was at $35,000 and that was the reserve, it would have had to had at least a couple more bids. Not sure this isn't still within the reserve.

Russ

dbldie55,

Before reserves kicked in it had sat at $25,000 for quite a while. Then it immediately jumped $10,000 to $35K. I'm convinced that is the reserve.

Russ, NCNE

Coinosaurus

I SO wish I had 40k to dump on this coin........just so I could crack it out and resubmit it.........and then whine about how ridiculous this whole affair is.

I like the $200 for the 69 DCAM better I was born in 1963, so one of these days I'll put together a nice proof set from that year.

tradedollarnut

I'd like the $200 for the 69DCAM better even if the PF70 was perfect! Much better value play. How long until one of those hundreds of underpop coins turn into another perfect 70?

Hmmm. Now that I think of it, after this little episode, PCGS may never make another........interesting how the two services handle the liability potential in two different ways: NGC makes quite a few which keeps the value [and thus liability] down. After all, if the value is just slightly above PCGS PF69 value, what's the downside? PCGS doesn't make any more, which keeps the value up but limits the liability on further coins.

It'd be funny if the coin was resubmitted under grade guarantee and PCGS sent it back with a note saying there was absolutely nothing wrong with the insert.....

abuell

Even if the coin does go to the order (and I do believe that it will) one has to remember that it is in the owner's interest to make it appear that it does indeed sell at a level equal to or above $39k. Remember, I can always make you believe that it is colder than it actually is if I make the thermometers.

Lakesammman

It'd be funny if the coin was resubmitted under grade guarantee and PCGS sent it back with a note saying there was absolutely nothing wrong with the insert.....

TDN - as you know, it wouldn't be the first time, but others might be shocked......

MFH

Forty thousand and climbing... different strokes for different folks... personnaly I'd rather have a 1916 SLQ in PCGS 66FH. At least there arn't three million possible coins capable of competing with the 16 SLQ.

barberlover

If it oesn't go above 41 K my last second snipe might still win !!!!

Les

Russ

He now officially has the last laugh. It's at $43,000.00 - $49,450.00 with the juice, and there's still 4 1/2 days to go.

Russ, NCNE

tompkins

Maybe it's time to send my 69DCAM to PCGS for an upgrade----maybe PCGS will be 'generous' in an attempt to protect themselves---get the population up a little before someone send this coin for a grade review.

Pete

sinin1

maybe Heritage has 'staggered' reserves like Teletrade


what I mean is the rerves are met with 2-3 increments - bumping up to get closer each time

like 15K -> 25K -> 35K -> whatever it is


darn, I just sold a 1963 penny PR68CAM that looked as good as that picture - is it a bad photo?

STEWARTBLAYNUMIS

I just gave away a Proof 68 D Cam......And it definitely looked better than this Proof 70

Stewart

MrEureka

what I mean is the rerves are met with 2-3 increments - bumping up to get closer each time

I can't imagine that the Heritage legal team would allow that.

Russ

Now at $45,000.00 - $51,750.00 with the juice. Three days to close of internet bidding.

Russ, NCNE

BillJones

Well, years ago we were told about the bi-furcated market. One for investors, another for collectors. Then it all fell apart and we heard about the great collapse of the late 1980s.

Now we have a new split market. One for numismatists the other for those who buy places on a registry. Who knows? Maybe buying places on the registry will become a new hobby. It will be pretty much divorced from REAL numismatics, but somehow I think that this fad too will pass.

Then again maybe the powers at be are just playing with us. Still it’s a game that I will assiduously avoid whatever the case.

michael

Well, years ago we were told about the bi-furcated market. One for investors, another for collectors. Then it all fell apart and we heard about the great collapse of the late 1980s.

Now we have a new split market. One for numismatists the other for those who buy places on a registry. Who knows? Maybe buying places on the registry will become a new hobby. It will be pretty much divorced from REAL numismatics, but somehow I think that this fad too will pass.

Then again maybe the powers at be are just playing with us. Still it’s a game that I will assiduously avoid whatever the case.


very well put


michael

cladking

<< <i>Well, years ago we were told about the bi-furcated market. One for investors, another for collectors. Then it all fell apart and we heard about the great collapse of the late 1980s.

Now we have a new split market. One for numismatists the other for those who buy places on a registry. Who knows? Maybe buying places on the registry will become a new hobby. >>



It might seem to many that you imply that those who form registry collections are not numismatists.
There are many thousands of registry sets and most of these collectors are quite knowledgeable. They
are forming important collections of coins from all eras of US coinage.

Some of these collectors were around in the late '80's and weren't burned when these markets tanked
because they never got caught up in the hype.