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Cert Wheats at Shows

InCentsInCents Posts: 6
in PCGS Set Registry Forum
Good morning friends!
I'm new to this forum so first things first...thank you for having me.
I have gained quite the education over the last few months just 'listening in' on the members. I hope to be a worthy participant in the years to come.
Let me offer a few thoughts....and I'd appreciate any and all feedback.
I consider myself to be a full time collector and part time dealer. I collect only PCGS cert wheats. I have over 90 different dates. I have every date from 1933-1958 in PCGS 66 or 67 red. I have a handful of pre 1933 coins. I occasionally sell coins at shows to dump some of my coins for whatever reason and to 'show' my set. No one brings anything to the show that remotely resembles my collection in quality, quantity, or specificity. I am alone in the PCGS cert wheat category.
Because I am a collector and not that concerned with turning a profit, I price coins accordingly. I have some coins priced way below retail, because that's where they belong, and some priced at a premium, because they are....PQ.
I usually set up once or twice a year in New England. Though my set gets a lot of looks and some times a few get picked up and inspected, I rarely get offers on any common date, late date, 66 or 67 reds. For the sake of argument please assume that I have a fair amount of knowledge of the market.
My feeling is that the 'registry rage' has not hit this area. Does anyone out there have luck with this type of set at local shows? The two shows that I set up at have 50-60 tables.
Also, the dealers that come to my table are certainly impressed with the set because they are well aware of what a PCGS 66 or 67 Red commands but they have no idea of the value of what a 1946D, or a similar date, should be in either grade. I find it difficult to find anyone who can even discuss the value or worth of a '56P in 66 red. I realize that in most cases the interest and experience of many older dealers are in half dimes and type sets, but isn't that true across the U.S.? Or is it only in New England that people and habits don't change?
I don't mind being ahead of the curve....if that's what, or where, I am. If I have to wait for the interest to move east that's fine with me. I'd certainly rather be the only one on the block with all the PCGS cert wheats than be a part of the mainstream and have a mish-mash of silver dollars from every grading service in no particular grade.
I put the value of my set in the $10,000 category. Some dealers say that my market can be found only in the National shows. Is that so?
Thanks for listening.....
Denis












Comments

  • pontiacinfpontiacinf Posts: 8,915 ✭✭
    sell em to michael dixon, hes a great guy to deal with...
    image

    Go BIG or GO HOME. ©Bill
  • centmastercentmaster Posts: 504 ✭
    I understand your frustration when you know you have good coins but it doesn't seem that anyone will give you a second look at them. No dealer in his right mind would buy anything that he didn't have at least a base knowledge of the market for, and not many know the market for later date wheats in high grade. Although it's true that at any given show (it doesn't matter where) there are maybe 2 or 3 collectors interested in that kind of stuff (I would be one of those), it doesn't mean that there's no market for them if you find the right channels. Look at Angel Dee's ads in Coin World- he has the high end stuff, but also the 6 and 7 RDs of many later dates. The same w/Wayne Herndon. There obviously are people out there buying these coins. I find that when I'm overstocked w/ 66RDs (which seems to be all PCGS is willing to give out these days) and take them to shows, no one cares about them, so I usually keep the best ones hoping PCGS will go back to their old standard of what a 7RD is at some point in time. The rest I just send to teletrade and usually get my grading fee back plus a little extra for the dates from the late 30's and early 40's and anywhere from $75-120 for some dates like 56P, 57P etc. Hope this helps.
  • CocoinutCocoinut Posts: 2,512 ✭✭✭✭✭
    I recently registered my Lincolns without really planning to do a lot with them until I filled some gaps in my other sets, but last week I saw some dates from the '50's in 66RD on Teletrade that seemed to be at reasonable levels, so I bid and won 5 of them. I agree that there is sometimes a fine line between a 66 and 67, and I'm happy to have nice 66's of the dates where the 67 pops are extremely low. When I become comfortable that I can distinguish a 66 from a 67, I may begin to break up some of the 1935-1958 rolls that I have, in an attempt to make 67's. Some dates are plentiful enough in 66RD that they sell for near the cost of slabbing (sometimes less), so I want to avoid slabbing more of them.

    If you have 66RD's to sell, why not offer them here? You may be surprised at the number of takers you'll get. Just make sure you have a GOOD photo or description of each. I'm looking for coins that are not too deep a red color, have better than average luster, and a minimal number of ticks.

    Jim
    Countdown to completion of my Mercury Set: 1 coin. My growing Lincoln Set: Finally completed!
  • InCentsInCents Posts: 6
    TY.....
    Your answer helps because it reaffrims what I thought I knew....that their are people active in this coin collecting area but they just don't seem to be at my shows. I'm going to the Bay State show this weekend and hope to make some contacts.....
    Denis
  • InCentsInCents Posts: 6
    Thank you for your thoughts. When I want to actively and aggresively sell my stock I'll look to this board and it's members. However, I'm not concerned yet with dumping or selling for a profit. All I'd like to see is someone come to my table and discuss the set with me. I'd like to exchange information and opinions about my portfolio. But the veteran dealers don't seem to know the market...or even care.
    Denis
  • mozeppamozeppa Posts: 4,431 ✭✭✭
    am i to assume your selling your collection?

    if so are you selling by the piece?

    what do you have pre-1933?

  • haletjhaletj Posts: 2,192 ✭
    It seems the market for these is strongest on the internet, this webiste, and ebay and such. I paid $90 for a 1976-d Lincoln Cent off ebay (ms66) and I saw an ms67 go for over $1000. I thought my purchase was risky, for ebay seems to be the only place to deal with these, and what if coins on ebay or ebay itself is doing terrible some day and no one is bidding? Anyway, my guess is we are somewhat ahead of the times and once more regular dealers realize they can make money on these they'll start buying and selling them. Right now 76-d is around pop 60/12 I think, and I bet someday it'll be like 1000/100, but that's okay for say look at the pops of Walkers or Franklins, Ike's, which may be in the thousands, and they still hold lots of value.
  • haletjhaletj Posts: 2,192 ✭
    BTW I too might be interested in buying some of your coins image (nice pq ones!)
  • merz2merz2 Posts: 2,474 ✭
    Dennis
    I can tell you,from experience that the prices realized for PQ Lincoln Wheats change from week to week.Go to any of the auction sites and check past auctions.Even on Ebay.You really need to check out the thread on the open forum about wheat collectors sign in.You will see that you are not alone.I have met quite a few of them.I have seen some of the finest Lincoln Wheats in the country.I've even owned a couple.I still own a few nice ones such as the 1909,1909 VDB,and 1909-S all in MS66 RD.I even have the 1909-S VDB in AU55 BN.All of these are PCGS certified.So you are definitely not alone.
    Don
    Registry 1909-1958 Proof Lincolns
  • InCentsInCents Posts: 6
    I'm more interested in a face to face discussion of my set and an honest opinion of the invidual prices I've put on each piece. I do not belong to a club and I don't feel like 'one of the boys'...(DEALERS).
    I still feel like more education for me is best. I'd like for some dealers to pick up a piece or two and tell me that a certain piece is overgraded or overpriced.....or better yet looks good for the money and how come I've got it priced so low!
  • InCentsInCents Posts: 6
    I'm certainly not in over my head financially as far as my collection goes. I'm 50 years old and I hope to slowly become an on line dealer as I near retirement in ten years. So for the time being, I'll keep buying and hope that I'm ahead of the curve. I can think of no better way to supplement my income in my Golden Years than to be in West Palm Beach Condo, on line for a few hours a day, making my twice a week stop at the post office, and checking my pay pal account daily as I buy and sell my stock....
    Denis
  • mhniesmhnies Posts: 105
    Welcome to the forum.

    I too collect Lincolns, seaching for and making my own
    high grade PCGS examples. Upon occassion I do buy
    buy PCGS coins when a good opportunity arises, which
    happens from time to time. I think many people do not
    realize what these coins are really worth and underprice
    them. Or maybe it is that I value them more.....I don't know.

    I am a RE Broker in the Palm Beach area. When you are
    ready for that condo, let me know, I can help. But don't
    wait too long. Last year condos rose in value faster than
    single family homes here. As us baby-boomers retire in
    mass in the coming years it will surely fuel this market and
    push values up quickly.

    Michael
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