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The 1963 70DC 1c. Which would you rather own raw - Bidding is going on now

TypetoneTypetone Posts: 1,621 ✭✭
in PCGS Set Registry Forum
OK, everyone is saying that the 1963 70DCAM Lincoln is way overvalued. That it has spots and therefore is not a true 70. OK granted, the coin has spots and is perhaps overgraded by a couple of points. The problem I have is that everyone is saying that a clear coin should be worth more than one with spots. I'm not so sure, so let me ask you your preference.

Suppose the 70 DCAM is cracked out, resubmitted, and returned as a 67CAM. But, let's also say the coin is identified on the holder as the former 70DCAM. Then consider a nice deep 69DCAM same year. Which would you rather have. I would take the former 70DCAM now in a 67CAM holder, and I would pay a lot for it. Why?The coin is famous and easy to identify. Fame probably has a lot more value than no spots. But what do you think?

Greg

Comments

  • dbldie55dbldie55 Posts: 7,735 ✭✭✭✭✭
    I would take the nicer one hands down. Certain types of fame are not worth much.
    Collector and Researcher of Liberty Head Nickels. ANA LM-6053
  • tradedollarnuttradedollarnut Posts: 20,162 ✭✭✭✭✭
    Typetone, I agree wholeheartedly. There's not much special about a common date PF69DCAM. This particular coin's infamy is the only thing going for it.

    Besides..... I would much rather have the "famous spotted one" so I could sell videos of me taking a blowtorch to it. image
    Early Dollar Set
  • RussRuss Posts: 48,514 ✭✭✭
    I'd rather have the 70DCAM, leave it in it's current holder and flip it in a year with the same auction company at the same coin show for a nice fat profit.

    Russ, NCNE
    eBay consignment sales | | Collectibles from Resco CCC
  • dbldie55dbldie55 Posts: 7,735 ✭✭✭✭✭


    << <i>I'd rather have the 70DCAM, leave it in it's current holder and flip it in a year with the same auction company at the same coin show for a nice fat profit.

    Russ, NCNE >>



    Russ, you had better change this or hope the sudden drop was a fluke.
    Collector and Researcher of Liberty Head Nickels. ANA LM-6053
  • RussRuss Posts: 48,514 ✭✭✭


    << <i>Russ, you had better change this or hope the sudden drop was a fluke. >>



    Doesn't look like a fluke. There were nine bidders, now there are eight. PCGS probably checked the piggy bank and thought better about eating it. image

    Russ, NCNE
    eBay consignment sales | | Collectibles from Resco CCC
  • dbldie55dbldie55 Posts: 7,735 ✭✭✭✭✭
    Why would PCGS get in a bidding war before it hits the floor? Only someone who does not plan to attend, or is an idiot when it comes to auctions would be doing this much bidding online this long before the close.


    Collector and Researcher of Liberty Head Nickels. ANA LM-6053
  • DAMDAM Posts: 2,410 ✭✭


    << <i>I would take the former 70DCAM now in a 67CAM holder, and I would pay a lot for it. Why? The coin is famous and easy to identify. >>



    I would say you could justify paying a small premium because it was "The Coin Formally Known as PR70". image Not unlike other novalties, it would be a nice conversation piece.

    Which would I rather own? A PR69DCAM.
    Dan
  • RussRuss Posts: 48,514 ✭✭✭


    << <i>Why would PCGS get in a bidding war before it hits the floor? >>



    For the same reason anyone else might - to remain anonymous.

    Russ, NCNE
    eBay consignment sales | | Collectibles from Resco CCC
  • MoneyLAMoneyLA Posts: 1,825 ✭
    Greg, why would you bother with a "former champ?" the only reason this coin is priced where it is now is because of the grade. if the coin is no longer graded a pr70dcam it no longer has value.

    you wouldnt buy a smashed up corvette if you were a vette fan, would you?

    i attach no value whatsoever to its controversial history, because that controversial history will be forgotten as soon as the grade changes on the coin. and if the grade changes the owner runs the risk of holding the bag on a bad coin.

    cheers, alan mendelson
    Cheers, Alan Mendelson
    www.AlanBestBuys.com
    www.VegasBestBuys.com
  • TypetoneTypetone Posts: 1,621 ✭✭
    In the U.S. Coin Forum it was pointed out that PCGS repurchased the coin at full value!!! Folks are bidding over there for the coin in a new correct holder. It is now $250 bid. We will see where it goes.

    Greg
  • cladkingcladking Posts: 28,701 ✭✭✭✭✭


    << <i>In the U.S. Coin Forum it was pointed out that PCGS repurchased the coin at full value!!! Folks are bidding over there for the coin in a new correct holder. It is now $250 bid. We will see where it goes.

    Greg >>



    The thing might be worth more than that on the off-chance the spots will come off. You
    don't suppose it's an investment do you?image
    Tempus fugit.
  • DMWJRDMWJR Posts: 6,008 ✭✭✭✭✭

    Greg, you can have the coin in the "correct" holder. I was bidding on the OLD insert.
    Doug
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