The Walsh collection of Lincoln cents for auction at FUN
STEWARTBLAYNUMIS
Posts: 2,697 ✭✭✭✭
The Walsh collection of Lincoln cents which is currently #2 all-time
finest on the PCGS Set Registry will be auctioned by Heritage at FUN.
Heritage has posted some of the dates and grades of the coins.He has the PCGS 1926 s in ms 65 red in the set.
Stewart
0
Comments
Yeah, I can't wait to see the 26-S in hand at lot viewing. Curious to see if it's the real deal or a slider.
Jack
<< <i>The pictures of most of them are up now. Still waiting on the pics of the 14D, 20S, 26S and 27S. There are some big time pennies there. >>
Has anyone seen some of the MS-65 Reds of the early mintmarked pieces yet? Many are in old green insert holders. I'm curious as to opinions.
I, on the other hand, have chosen not to give any on a public forum. My feet were held to the fire on the last opinion I gave, and I now recognize that as a dealer my opinions coould conceivably have an impact, either positively or negatively, on auction bidding. That really might be unfair to the consignor.
Therefore, being held to a different standard than that of collectors on a forum such as this, I choose to remain silent.
Ira
Ira, I don't know you personally, but that speaks volumes about what kind of person you are!!!
So consider yourself's warned on who will be the new owner!
Later, Paul.
Later, Paul.
Stooge,
I hope you got a little spare change layin' around, because that 26-S aint gonna be cheap!!
Jack
WS
<< <i>Ira, How about a an arm chair report AFTER the auction on the quaility, gardes, etc.
WS >>
I might consider that. But then again, some of my customers may win some of those lots. I might well get them furious if I don't approve of their purchases. I think it's a no-win situation for me to comment publicly. Privately, I've got no problem.
Ira
Iras 4 - Who is the biggest buyer ?
Will you be spending 6 figures ?
Can the Lincoln cent market handle a $1,000,000 + collection ?
Stewart
What is the approximate value of the set?
$20 Saint Gaudens Registry Set
I'll take a poke and guess around 1.5M. He has the 26-S, which is $100,000+, the 13-S is somewhere around $75,000-$100,000, and the 09-SVDB is about $80,000. The other usual suspects will round it out. Just a guess, of course. "Word on the street" is that there are a couple new big fish in the pond. If a bidding war erupts, all bets are off.
Jack
$1,850,000 for the Lincolns
Stewart
Makes one have more and more respect for those who stick around.
This is NOT to slam those who didn't stick around as some of them are good friends of mine.
<< <i>Stooge,
I hope you got a little spare change layin' around, because that 26-S aint gonna be cheap!!
Jack >>
Glad to see that at least one of you "cent guys" has a sense of humor!
Later, Paul.
Later, Paul.
I won't be spending 6 figures, but I DO think the market can absorb a Million $$ Lincoln collection. The biggest single buyer may turn out to be YOU if you decide to go for the 1926-S! That way, you would cement your #1 position into perpetuity with no worries about Gerry deciding to register his set.
You'll be #1 in the Indian Head cent after January's auctions, and you could assure yourself of future leadership there as well with a few purchases out of Ally.
Besides, I hate predictions. I would venture a prediction for one a single coin, though, once the images of the 1926-S are posted at the Heritage site.
Ira
Stewart
Stewart,
$1,850,000!!
Whoa Nelly, if they go for that much I'm certain to get shut out.
Let me ask you this. Do you think the 26-S will go to a registry set collector?
Jack
It was the only coin that ever and literally put me into tears as a coin collector due to the frustration I had of not being able to find one anywhere. The worst part is there is no crying in coin collecting.
It defined and defines the term "stopper" better than any other coin I know in all of numismatics. This was so before TPG's.
It was the one single coin that forever changed my philosophy of collecting complete sets like a "strong bull" to collecting type coins like a "weak sheep or lamb."
If I had money to throw away, I would have gladly bought a true 1926-S cent in gem BU red and make it a one coin registry set for my lincolns (still mostly raw after all these years) just to keep from anyone else from having it. It is the only coin that has ever evoked anger and true frustration in me as a collector.
<< <i>I have looked up to the 1926-S cent in Gem BU Red as the holy grail of all coins of the 20th century.
It was the only coin that ever and literally put me into tears as a coin collector due to the frustration I had of not being able to find one anywhere. The worst part is there is no crying in coin collecting.
It defined and defines the term "stopper" better than any other coin I know in all of numismatics. This was so before TPG's.
It was the one single coin that forever changed my philosophy of collecting complete sets like a "strong bull" to collecting type coins like a "weak sheep or lamb."
If I had money to throw away, I would have gladly bought a true 1926-S cent in gem BU red and make it a one coin registry set for my lincolns (still mostly raw after all these years) just to keep from anyone else from having it. It is the only coin that has ever evoked anger and true frustration in me as a collector. >>
Oreville,
It's not all THAT tough to find a decent 1926-S 1c. I've sold at lesat 10 reds, all MS-64s, in the last 7 years or so and I can tell you that the pop of 61for red 64s is nowhere near that high. Many nice 64 reds have been cracked out and submitted many times (not by me) in an effort to achieve true Nirvana in the form of a MS-65 RD on the slab. I've sold real nices ones as well as average ones plus at least a dozen or more RBs in grades from MS-64 to MS-65. All were PCGS except for one ICG I sold about 6 years ago that was in the recently sold Northland collection and which crossed over easily into a MS-64 RD PCGS slab. I believe it's is in the Bozarth collection now but I could be wrong about that!
When I first sold a red one in MS-64 it was for about $1500. How times have changed.
Ira
Ira & Oreville,
I know it sounds crazy, but I agree with both of you. Yes, there are many nice examples out there. I have seen several of the coins Ira is referring to. My 64RD is very nice (Mershon's old coin before he swapped it for a 65RB). But, Oreville has a good point as well. Most of the coins out there, even the nice ones, fall short of true Gem BU status. To get color, strike and clean fields is almost unheard of. It's usually two of three. As I stated earlier, I can't wait to see this coin. I'm curious to see if it's the real deal or just a pretender.
Jack
I was in my mid 20's in the late 1970's when I threw in the towel (after 15 years of looking) on the 1926-S cent and complete set collecting in general. I had found everything else in the lincoln set series except for that date/mm and simply could not understand why it was so difficult to find. After all, it was not expensive or the exalted 1909-S VDB, 1922 no D or the 1914-D etc., etc.,
I kept hearing how the 1921-S and 1923-S was so difficult to find in full gem BU red. I don't mean decent. I mean full Gem and full red. Yet the 1921-S and 1923-S were babycakes in comparison to the ruthless and demonic 1926-S cent. Nightmares? Many of them. One nightmare included finding a 1926-S red gem BU cent only to discover that it was a 1926-P cent with the S mint glued onto it. I had good reasons for having that comical nightmare. You may have read my story how as a 16 or 17 year old a "D" mint mark fell onto the floor of a 1932-D quarter while I was looking at it in a coin dealer store in new York City in 1968 or 1969.
Of course, some of the cents of the late 20's and early 30's sometimes had the brassy look instead of the red look. The darned 1926-S often seemed to have that woodgrain look even when touted as full red.
But then again, it was not until well after the TPG's came around that I learned and appreciated that the 1926-S in full gem red was extremely rare. But by then, I had been spurned too often and would never come back to it. I was and still am afraid of confronting those emotional days and nights.
I had the same resentment towards the 1872 NDN cent but I did finally forgive that date/mm and finally bought one!
The 1926-S cent is my emotional demon coin.
Strange huh?
yes, always 2 out of 3 for the nicest ones I found. I kept asking why not 3 out of 3?
On every other date/mm except the 1922 no D you could get 3 out of 3.
Had I known then what I now know I would have learned to accept 2 of 3. But no one fully understood how difficult the 1926-S cent was to find back in the 1970's because we were not so quality obsessed are we are today.
<< <i>Jacktheknife: You hit it on the nail. Strike, color and surfaces.
yes, always 2 out of 3 for the nicest ones I found. I kept asking why not 3 out of 3?
On every other date/mm except the 1922 no D you could get 3 out of 3.
Had I known then what I now know I would have learned to accept 2 of 3. But no one fully understood how difficult the 1926-S cent was to find back in the 1970's because we were not so quality obsessed are we are today. >>
Just for you, Oreviile.
1926S
I sold this about 5 years ago to a fella who's #4 I think on the Lincoln Cent 1909-1958 w/varieties. As far as I know, he has no plans to sell his set.
That coin, the owner tells me, has never been into PCGS for an upgrade attempt. I doubt it would upgrade into a 65. Obverse is real nice, but some reverse issues would keep it out of the rarified MS-65 zone.
Lots of luster, though, and what is unusual, quite a strong strike for a red (it's a MS-64 RD). No wood-graining, but many have that affectation. I wonder what a coin with that "look" would be worth today? Better not reply, folks. He might read this forum and decide it's time to sell his set!
Ira
Sean Reynolds
"Keep in mind that most of what passes as numismatic information is no more than tested opinion at best, and marketing blather at worst. However, I try to choose my words carefully, since I know that you guys are always watching." - Joe O'Connor
Here's mine.
Jack
Thanks TDN! Wish I knew how to do that. I'm not very techno-saavy.
Jack
<< <i>With a 64 like this, who needs a 65?
*low whistle*
Man, that must be one helluva coin... it even looked good when Heritage photographed it.
Sean Reynolds
"Keep in mind that most of what passes as numismatic information is no more than tested opinion at best, and marketing blather at worst. However, I try to choose my words carefully, since I know that you guys are always watching." - Joe O'Connor
I may have to start collecting mint state Lincolns . . . .
I realize that you sold Lincoln's 26-S some years ago.
25 years ago, I decided to do lincoln varieties only among other coins and stayed away from the 26-S. I have been tempted a few times but never did bite!!
<< <i>Ira4: I happen to like LincolnRule 26-S more then the one you showed me "for my eyes only."
I realize that you sold Lincoln's 26-S some years ago.
25 years ago, I decided to do lincoln varieties only among other coins and stayed away from the 26-S. I have been tempted a few times but never did bite!! >>
LincolnRule's coin is a real attractive one, I'll grant you that. I sold it into the KylePatrick collection a couple of years ago. It is about 70% red and was graded MS-64RB. No blemishes of note, however. All reds in MS-64 seem have some issues, however...that's why they are graded MS-64, at least the ones I've ever seen. Still, RBs are available, whereas reds seemed to have vaporized, lending credence to my personal theory that nearly all the reds are safely ensconced in collections rather than in dealer invenory.
Ira
THERE IS NO SUCH THING AS A FULL RED GEM 26 S l
LINCOLN CENT.
I have a 64 red and 3 65 r/b's.The orange peel skin on the 26 s is so thin that the luster disappears faster than any other date.This is the reason why most of the surfaces are gold and not orange red.
Stewart
<< <i> "Word on the street" is that there are a couple new big fish in the pond. If a bidding war erupts, all bets are off.
Jack >>
I read that Jack Lee is going to give Lincolns a go.
New collectors, please educate yourself before spending money on coins; there are people who believe that using numismatic knowledge to rip the naïve is what this hobby is all about.
<< <i>My question is, if there are a few new big fish in the pond, why have the same low pop coins been sitting in Angel Dee's inventory for so long... >>
Well, Andy may have paid very strong $$ for them, maybe even TOO strong, and with his added markup, which I believe to be modest BTW, they are priced out if the current market. This particularly true for late date low pop Lincolns in the 1950's, where a purchase of one of these by a an avid Registry participant might only raise the total point value of his/her set by .002, perhaps not enough to show any increase in total points shown or ranking. Not a lot of bang for the buck.
Better, methinks, to apply the $$ to an early mintmarked example. That way, the collector might be buying a TRUE rarity, not a condition rarity with little to show for it.
Ira
I heard the Striped Bass are "in" on the New Jersey shore line.I will check it out on Monday.
I will catch some big Lincoln cent fish after FUN.
Stewart
I'm sure Andy is doing O'K. I keep an eye on his website (almost daily, in fact) and there is definitely movement. Some of it shows up in auction, but certainly not all of it. If I were at my office I could be more specific. As for the late date stuff, I suspect that is sold. He had a 50-P, 54-P, 56-P, even a 53-P that were there not too long ago. I don't remember seeing these coins at auction. Anyway, Andy may not appreciate my speculation about his activities. I'm just trying to make the point that I believe the high-end Lincoln market is chugging away.
Now, on to more important issues discussed in this thread. I think Stewart and I have a healthy understanding of each other, so I know I won't upset him too much if I have to disagree with him. Well, possibly disagree. I have seen an initial image of the 26-S, obverse only. Contrary to what Stewart stated about a gem 26-S, this coin looks very "gemmy". Granted, it's just the obverse and it's just an image, but it looks good so far.
Jack
They ALL sold and for WAY MORE then I thought they would.
Sounds like your back to Lincolns
Stewart
ps - Ask Dave Schweitz about the Lincoln market.He probably know more than anyone.
Read my lips. I said I SOLD Lincolns. Where does it say I purchased any???
Schweitz said prices for Lincolns will go to the moon and beyond!!! Stew, are you happy now?
I'm about as interested in buying Lincolns right now like I am in moving to Russia.