Help! Explain why this auction closed so high.... Lincoln Cent 1968-P

Bochiman

Yes, it is MS66RD.
Yes, there aren't a ton of them.
Yes, it does look nice.

But, over $350??????? No way!

Here's the cent, look at the price and bidding...what am I missing?????

I already have a nice MS66RD example of this. Think I paid ~1/5 of the price this went for.
It isn't a "nuclear" market causing this. Either there is more than 1 fool out there, someone doesn't have a grasp, or I am missing the reason this went so high up!!!!

Monstavet

I think it is because I do not see a single scratch on the plastic holder.

Russ

Part of it can be attributed to the fact that this seller has a substantial following. More bookmarks, more eyeballs and bidders. But, only part of it.

Russ, NCNE

Regulated

Two people with more money than sense?

haletj

Wow! One just sold for about $175 a week ago which I thought was high. I've seen them for less than $100. I know srm and I think it might be one of the last coins he needs for his set. Another issue might be that pcgs is just not giving out the ms67 grade at all these days, and maybe this recently graded coin is one they were too hard on (although not if there's a nick like that on the rev). An ms67 would sell for $1000's.

cmanbb

Probably due to the POP Report 75 in 66RD, 10 in 67Rd..................
These #'s will increase over time as we all know, and the price will drop as we all know.
Modern coins like this (if building a set) should be made not bought.

Once these "modern" high grade sets are built..........then what. The thrill is over, you move to other interests.
Then you try to sell this "modern" high grade set.....and you can't give it away.

Again......Modern coins like this (if building a set) should be made not bought.
Take your time, they will come.....After all this is a collection that takes time and patience.
You'll probably feel a whole lot better when you go to sell it. IMHO

haletj

Well I too am a fan of finding such coins raw, but some are worth the cost of just paying the price and buying them slabbed. 68-p is quite the tough date and one could easily go through $100 in rolls before finding an ms66 (as cladking always states, 68-p's in mint sets are no good!). What one needs to learn is what dates/grades legitimately are rare and what ones aren't. Some dates/grades could prove to be terrific investments to buy already slabbed. Some dates will suffer to exactly what cmanbb said.