LINCOLN CENTS GO FOR BIG BUCKS AT ANR AUCTION
STEWARTBLAYNUMIS
Posts: 2,697 ✭✭✭✭
How about an1909 s VDB in PCGS MS 65 RED for $12,000 plus the juice or a 1914 in 66 red for $8,000 plus the juice
I liked the 1919 in ms 68 red for $11,000 plus the juice but I already owned it once.
I thought the 1915 D in 66 red at $16,000 plus the juice was too rich for my blood but I don't know Jack anymore.
A 1924 in 66 red at $4,200 seemed like a bargain
What do you think ?
Stewart
0
Comments
What did you think of the 17-P in 68Rd? Heard it was nowhere near the 19-P in 68Rd.
Prices just continue to go higher and higher. Couldn't believe the price of the 14-P. Will the insanity ever stop?
Joshua
Seems like we've been telling him that for 3 years now, yet the prices just keep going higher
i WAS ONE of the few WHO DIDN'T THINK THE 17 p was a bad coin.I thought it could regrade as a 67 but it was in a 68 holder.The 19 P was a nice 68 but then I made 13 of them.The 18 P was a very nice 67.
Stewart
I'm sure that the 18-P and 19-P found a good home.
By the way if we research the genealogy of all 19-P's in 68/69 won't they pretty much all come back to you?
joshua
want a quarter or maybe a half dollar. Not some measely old penney.
Camelot
I never said I was SMART bidding on the 1917. (I was bored, and just was having fun). Did it, then I took it like a man, and hoped I got outbid. I didnt really want it. Not a true lincoln cent man... don't think they are that pretty of a coin. I just think the prices have really jumped, and quite frankly, mad I didnt buy the 1919's Angel Dee had (Andy) a couple years ago when I could of. Again, not jealous or anything, just amazed the price increases, and how much my own collection has basically doubled in the past couple years. I want to hold all my stuff forever, but gosh, could make a ton...
What if PCGS keeps getting more coins (let's say lincolns) from other grading services, and also upgrade a bit of their own? Does that not make the particular grades more common, (or saturated is the word),then not as desirable as the pop goes up? Doesnt matter to me, but say there are 2 1917 MS68RD's then 3 years from now, 5? How does PCGS protect the investment of others, vs. keeping the acct receivables and profits for dealers going??? Just a thought. Again, it is all fun for me, but also an interesting marketing game going on in this hot market, with most everyone buying to collect, OR TO GET AN UPGRADE...
I guess I shouldnt say dumb money, just higher prices. In a sense, I am personally estatic there are more collectors of coins, and maybe (hopefully) more exposure to the world of U.S. numismatics. BTW, in case you want to match a face with me, I am the one who bought the MS64BN 1922 No D from Andy two years back at LBeach in June 2002, and the 1864 L IHC PR64RB at FUN 2003...Bid heavy against BLAY same auction for the MS68 1899 IHC (we both gave up)... Do you remember me??? Wife's yelling at me, gotta go...
Now I know late date Seated Quarters. The high bidder paid strong, but not stupid, money for this coin in a 6 holder (and who knows how many times he's going to have to submit the coin before it upgrades, IF it upgrades in the first place). I hope the high bidder is a collector, because a dealer will have too much into the coin to make any money on it.
"Seu cabra da peste,
"Sou Mangueira......."
I HOPE the market stays flat or goes higher. I am a financial planner, and have seen the hoopla in stocks 1995-1999, then watch the bottom fall. Old timers have said it has happended in the coin market before. But I believe in the old simple economics of supply and demand. If more collectors, and supply stays the same or shrinks... then the chart goes up. I do feel that is the rare coin market. High valuations for internet stocks and tech stocks in the late 90's DID NOT JUSTIFY THE HIGH PRICES TO ME. I believe the rare coin market is different... Like land, dates before 2004..."they're not making any more!!!". I am NOT bearish, just the QUICK rise is "surprising".
needs to be seen in context. Usually when something goes up because of speculative demand
and hype it's because people can obtain it in large quantity and promote it. It is this very quantity
which is the eventual undoing of the bubble whether its tulip bulbs or tech stocks. Things which
exist in large number or can be replicated unendingly will eventually become too common to support
rising prices which will cause those who bought on speculation to sell and the market will collapse.
Lincoln cents fit none of these considerations. There are not large numbers of high grade coins in
existence and beyond doubt no one is making more, there does not appear to be a significant a-
mount of speculative demand, and they can't be bought in large quantity in order to promote them.
So why have prices gone crazy? Simply because collectors are seeking quality and can do it at any
level they feel comfortable with and can afford. This is so much of the attraction of coins today; that
it's possible to afford fine collections on a shoe string, that it's possible to afford rare coins for little
cost, that world class coin collections can be assembled for study at great effort and a huge amount
of fun even by the collector of average means.
Prices have gone crazy because people finally have the means to acquire these coins which were
utterly impossible before the internet. The grading services, far from being the enemy of these mar-
kets, have actually made them possible by identifying the finest coins so collectors can find them.
While the naysayers will claim that the grading services will always "make more", even this is bene-
ficial to the markets by making more coins available to keep people in the hunt for upgrades.
It's obvious that these are still the early days of these markets simply because the rare late dates
are so very much cheaper than even the more common earlier dates. Since it is collectors who are
paying these "crazy prices" they'll need one of each so prices will be based on rarity not age.
If one wants to worry about these markets then the trend to worry about is the trend toward buy-
ing the finest one can afford or find. When this trend falters thre can be a serious collapse in the
prices of high grade coins, until then we'll just have to see what happens...
Now, that is a new one that I have never heard before!
(ok I did add all the zeros for maximum effect)
By the way, coins prices in the past, can and frequently risen in prices in a dizzying manner. 100% and 200% increases in a matter of months is not unheard of. Then again price drops of 95% in a single week has also been well documented.
I have really enjoyed reading this thread because the participants are some of the top owners of Lincoln cent collections. I too own these coins, but at a different level. I would be interested to hear your comments concerning a couple of the rare Lincoln proofs, the 1909VDB and the 1990 no S. Do you currently own them? If not, do you have a desire to acquire them? How do these two coins rate in your mind compared to aquiring the condition rarities that are discussed in this thread? Thanks for your comments.
Steve
My Complete PROOF Lincoln Cent with Major Varieties(1909-2015)Set Registry
291fifth,
I respect your opinion and believe there is some merit in your comment. There certainly is a component of ego involved with what is happening in the Lincoln market. I would qualify that, however, by stating that if you want to collect high end Lincolns you must play the game with those that are in it for ego and the best GPA. I have a passion for Lincolns that developed LONG before there was a registry. I am putting together another set, but want just PQ coins for this set. Not numbers, but PQ coins. Now, many times PQ coins come with low pop and high number. Isn't that why there are third party grading services. Contrary to a lot of the chatter on these boards, the TPGs DO get it right a lot of the time. Anyway, for truly the best of the best (not just the lowest pop) I must still compete with others with different motivations. That's why I bought the 15-D. That's why I didn't buy the 17-P (MS68, Pop 2). That's why, after discussing it with Stewart, I didn't buy the 11-P.
Anyway, just wanted to let you know that all us Lincoln collectors aren't motivated in the same way. To paint us all with a broad brush would be inaccurate.
Jack
Yes bored.
Steve, I have a 1990 No S proof, but I would LOVE to have one in its original holder. I am a "story" coin collector.... Key dates, error, etc. The only lincolns I have are, well, self explanatory:
1909-s VDB PCGS MS66 RD
1914-d PCGS MS65RD
1922 NO D Strong Reverse PCGS MS64BN
1922 NO D Weak Reverse PCGS MS63RED BROWN....SORRY NOT RED (Bought accidently, bored)
1944 STEEL Net MS60 (missed 1943-s COPPER at ANR earlier this year. still mad. No Philly copper 43 is safe at any auction as long as I know about it...).
1955/1955 PCGS MS65RD (will buy more if I am bored)
1990 NO S Proof
I THOUGHT about adding the only other proof I would want in lincoln...1909 VDB MS66RD, but have decided otherwise. But all I have seen (two) are awesome.
If my wife would let me, may go after something "unique" in Baltimore.... Just a hint......we're both going...checking out WASH D.C. and the "soon to close" coin exhibits at Smithsonian, and Baltimore...
----------Lloyd
<< <i>1922 NO D Weak Reverse PCGS MS63RD (Bought accidently, bored) >>
Good God! I can only dream of being in this position.
<< <i> Doesnt matter to me, but say there are 2 1917 MS68RD's then 3 years from now, 5? How does PCGS protect the investment of others, vs. keeping the acct receivables and profits for dealers going??? >>
Perhaps I'm out of place here, or just don't understand, but is it PCGS' responsibility to "protect" the investment of collectors to the extent of ensuring that there aren't more than a certain number of coins of MSXX grade? I think if there is only one, then it's PCGS' responsibility to grade only one, on the other hand, if there are 5 or 10, then there should be 5 or 10 (assuming that they all get submitted to PCGS).
Just my humble opinion. That and a couple quarters will get you a cup of coffee at any diner in town
<< <i>Oreville:
Yes bored.
Steve, I have a 1990 No S proof, but I would LOVE to have one in its original holder.
----------Lloyd >>
Lloyd, realistically you wouldn't want to keep a 1990 No S proof in its original mint proof packaging. Too much risk of it deteriorating and without a firm grade from PCGS or NGC you risk losing value over time. IMHO there is nothing special seeing this rare coin combined with the other "normal" 1990s denominations in a Proof Set. Thanks and good luck with your Lincoln cent pursuits. Steve
My Complete PROOF Lincoln Cent with Major Varieties(1909-2015)Set Registry
-------------Lloyd
Steve, you are probably right, but it seems the 1990 No S would be worth more with the others in the set. IMO, I'd pay more!!!!!!!! It's sunny out, what am I doing on the computer now...!??? (smile)
I've read this thread with great interest.I too am a longtime Lincoln collector.While addmittedly not in the same catagory as you.I have seen even in the lower grades,the prices realized keep going up.We can all agree,I think the "Lincoln Collectors" are out to complete their sets in as good a grade as $'s will allow.As 2009 approaches I believe it will get even more intense.I for one can't wait to see what the Mint comes up with to comemorate 100 yrs.
Registry 1909-1958 Proof Lincolns
Your quote:
<<<<<<<<< The quest for the ultra-grade coins mystifies me. The premiums paid for these coins is simply not justified by their slightly better appearance. This is a game for collectors with too much money and out-of-control egos. >>>>>>>
I do not agree with you. Many of the buyers might simply being a type collector wanting just one very wonderful lincoln cent for ther type set, or a collector filling in the final coin to complete their set. True, some collectors may have too much money OR large egos but I have rarely seen the combination of both. In fact, it seems that the collector with (I prefer the term STRONG ego) rarely overdoes it with the buying of great condition rarities (in other denominations as well) and in fact, are quite shrewd in their purchases.
If you love lincoln cents or any specific series there is eventually a tendency to someday make a move to own the very best within your budget. That is not ego, that is lust. Yes, collectors do develop lust for certain coins and if the budget is available then the test becomes.................well you only live once?
Oreville,
Now that you've said it, I have to agree. For me it's not so much an ego thing, but lust would be a very good word to describe my motivations. I saw that 15-D and had to have it. Unfortunately I had to compete against others that have way more money than I do!
<< <i>The quest for the ultra-grade coins mystifies me. The premiums paid for these coins is simply not justified by their slightly better appearance. This is a game for collectors with too much money and out-of-control egos. >>
The high grade coins went up in value first, because that is where supply couldn't satisfy
demand. While the premiums on the highest grades can be significant in any hot series
they always reflect supply and demand. There are many specific reasons that people search
for the highest grade coins but so long as people increasingly want the best there will be
demand for such coins.
Perhaps it's just the grading services and the internet which have made manifest the nat-
ural tendency of collectors to seek the best example they can find.
But PCGS, like I've said it before...what INCREDIBLE marketers!!!!!!! Get this registry set thing going, don't allow any other grading service coins, and start the fever. It's like you have goals and the drive to compete for placement on the registry lists. What a concept. PCGS is NOT DUMB. (To use my word!).