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1938 ANACS 68 RED....

bikenutbikenut Posts: 82
in PCGS Set Registry Forum
This coin sold for $6,325 in a Heritage sale yesterday. What am I missing here? A few others have sold at auction in the last few years at the $200-$300 level. I believe this particular coin is a new one on the block. I suppose the bidders think it has 68 PCGS potential.
Any comments?

Comments

  • STEWARTBLAYNUMISSTEWARTBLAYNUMIS Posts: 2,697 ✭✭✭✭

    SOME PEOPLE HAVE TOOO much money.

    Stewart
  • coinguy1coinguy1 Posts: 13,484 ✭✭✭


    << <i>SOME PEOPLE HAVE TOOO much money. >>

    Stewart, since you didn't comment on the COIN, itself, is it correct to surmise that you haven't seen it in person?

    If so, why would you make a comment like that? If the coin crosses at PCGS, it will be a pop. 1 coin and certainly be "worth" far more than it sold for in the ANACS holder. Considering the holder it was in, the sale it was in and the price it brought, it's a good bet that at least two extremely knowledgeable bidders were involved.

    I can't wait to see how much you (eagerly) pay to the winner of the coin after he crosses it and offers it to you.imageimage
  • tradedollarnuttradedollarnut Posts: 20,162 ✭✭✭✭✭
    If so, why would you make a comment like that? If the coin crosses at PCGS, it will be a pop. 1 coin and certainly be "worth" far more than it sold for in the ANACS holder. Considering the holder it was in, the sale it was in and the price it brought, it's a good bet that at least two extremely knowledgeable bidders were involved.

    While I have certainly been guilty of paying up for quality, I can understand Stewart's comment completely. This is a common coin with a mintage of 156 million, a pop of 219 in PCGS MS67 [value $150] and 406 in NGC MS67. A factor of 40 times the undergrade for a coin which more than likely is barely distinguishable from the best of the underpops? image

    Once the top pop ceiling is broken, I wonder how long it will be until a few of the best of those 600 underpops start filtering upward.
    Early Dollar Set
  • STEWARTBLAYNUMISSTEWARTBLAYNUMIS Posts: 2,697 ✭✭✭✭

    MARK - YOU SEEM TO BE TRYING TO RECEIVE THE jackass of the year award.First you know where Miles Standish
    will be employed,now you know that two knowledgeable dealers were bidding on a 1938 Lincoln cent.
    I doubt you would pay $150 for any 1938 Lincoln cent.I would certainly not pay $6,325 for a 1938 Lincoln cent in a PCGS
    ms 68 red holder.But you seem to know everything about everything so it is futile to talk to you.

    Stewart
  • coinguy1coinguy1 Posts: 13,484 ✭✭✭


    << <i>MARK - YOU SEEM TO BE TRYING TO RECEIVE THE jackass of the year award. First you know where Miles Standish will be employed,now you know that two knowledgeable dealers were bidding on a 1938 Lincoln cent.
    I doubt you would pay $150 for any 1938 Lincoln cent.I would certainly not pay $6,325 for a 1938 Lincoln cent in a PCGS
    ms 68 red holder.But you seem to know everything about everything so it is futile to talk to you. >>



    Stewart, I will repeat what I already said about Miles...

    <<I mentioned what I had "heard" not what I "know". I "heard "that Miles was going to work for ANACS - I guess only time will tell if that is correct or not.>>

    Others have heard and said the same.

    Furthermore, I didn't say that I "knew that two knowledgeable dealers were bidding on a 1938 Lincoln cent". In fact, I didn't even specifically mention "dealers" or say what I "knew", when I commented: "Considering the holder it was in, the sale it was in and the price it brought, it's a good bet that at least two extremely knowledgeable bidders were involved." I also believe that my speculation regarding the price realized, is at least as likely to be correct as is yours.



    << <i>I doubt you would pay $150 for any 1938 Lincoln cent >>

    What I would pay for a 1938 Lincoln Cent is completely irrelevant to the discussion, though I have paid considerably more than $150 for some 1938's (have you checked the levels on PR66RD's PR67RD's?), so you were incorrect and should choose the words for your barbs more carefully. image

    Lastly, I don't claim to know nearly as much as you give me credit for or accuse me of. Your comment about the price/bidders for a coin you apparently hadn't even seen, struck me as short-sighted, however. Please be sure to have a nice day, anyway. image

    PS - you should make an effort to carry on discussions or debates without resorting to name-calling. image
  • jacktheknifejacktheknife Posts: 1,547 ✭




    Something smells. Why on earth would anyone in their right mind spend that kind of money on a 38-P Lincoln cent in an ANACS holder? Either the buyer will "magically" get the coin in a PCGS holder next week or, as Stewart stated, he's got WAAAAY TOOOO MUCH MONEY.


    Either way, Heritage should place a statement in big red letters on the archives page for this coin: DO NOT ATTEMPT TO RE-CREATE THIS STUNT! THE RISK OF INJURY IS FAR TOO GREAT!! image

    Jack


  • bikenutbikenut Posts: 82
    I'm happy to see that my first topic on this forum got such a lively debate going. I also happen to own one of the few other 1938 ANACS 68 RED coins out there. I'm not sure what to do with it now. I'm assembling a set of PCGS cert wheats and bought this piece in an ANACS holder a few years back in the hopes of crossing it as a PCGS 7......
    Maybe it'll get an 8.......
    Maybe, as I think one board member suggested, this new piece on the market WILL cross as an 8 and open the floodgates for all the 7's that are out there......
  • RussRuss Posts: 48,514 ✭✭✭


    << <i>Something smells. Why on earth would anyone in their right mind spend that kind of money on a 38-P Lincoln cent in an ANACS holder? >>



    Maybe it's the same guy who bought some other Lincoln in an ICG MS67 holder for $3 grand and change, crossed it to PCGS and sold it for 10 times that. image

    Russ, NCNE
    eBay consignment sales | | Collectibles from Resco CCC
  • coinguy1coinguy1 Posts: 13,484 ✭✭✭
    I find it somewhat ironic, that the buyer and at least one under-bidder, are being insulted (mostly by Stewart) and questioned by others, for "buying the COIN, not the HOLDER". This certainly doesn't appear to have been an example of bidding on the "plastic", folks.image
  • jacktheknifejacktheknife Posts: 1,547 ✭


    Russ,

    It was an 09-S and yes, it happens. I am not trying to insult anyone. Mark, you know that's not my M.O. I am trying to let others know that this transaction is WAAAY out there on the speculative scale. From the image on the Heritage site it looks like a nice coin, but is it the "finest" mint state 38-P? I doubt it.

    Bikenut posted that he had one and acquired it in hopes of crossing it to a 67 at PCGS. That would be a rational approach. It could be inferred then that he probably only paid a couple hundred bucks for his coin. That would also be a rational approach.

    Jack



  • coinguy1coinguy1 Posts: 13,484 ✭✭✭


    << <i> I am not trying to insult anyone. Mark, you know that's not my M.O >>

    Jack, I do know that, and always appreciate your posts. If you wish to change your MO, though, I think I know someone here who could be of great assistance.image



    << <i>I am trying to let others know that this transaction is WAAAY out there on the speculative scale >>

    I agree with that. However, because the bias against the ANACS holder was overcome in such an extreme fashion by at least two bidders, I must consider the possibility that they might really be on to something. I'd love to hear from both whomever won (and lost out on) the coin.
  • coinguy1coinguy1 Posts: 13,484 ✭✭✭
    Hot off the press from the winning bidder, whose identity will NOT be revealed by me (so please don't PM me and ask):

    "I believe the coin is the finest 1938 Lincoln Cent I have ever examined, having searched through many rolls and having made many MS67 examples".
  • DMWJRDMWJR Posts: 6,008 ✭✭✭✭✭


    << <i>I'm happy to see that my first topic on this forum got such a lively debate going. I also happen to own one of the few other 1938 ANACS 68 RED coins out there. I'm not sure what to do with it now. I'm assembling a set of PCGS cert wheats and bought this piece in an ANACS holder a few years back in the hopes of crossing it as a PCGS 7......
    Maybe it'll get an 8.......
    Maybe, as I think one board member suggested, this new piece on the market WILL cross as an 8 and open the floodgates for all the 7's that are out there...... >>



    SELL IT! SELL IT! Be sure to start your e-bay auction with "Last ANACS MS68 sold at auction for over $6,000!!!!! This one has a starting bid of ONLY $4,000!!!!! . . . . "image
    Doug
  • jacktheknifejacktheknife Posts: 1,547 ✭




    "I believe the coin is the finest 1938 Lincoln Cent I have ever examined, having searched through many rolls and having made many MS67 examples".


    Well, there you have it. This person actually examined the coin, felt it was the finest example he/she has ever seen, and bid accordingly. It's hard to argue with that.

    Jack


  • DMWJRDMWJR Posts: 6,008 ✭✭✭✭✭
    imageimage
    Doug
  • STEWARTBLAYNUMISSTEWARTBLAYNUMIS Posts: 2,697 ✭✭✭✭
    Jackthe knife - Russ was referring to the guy from Nevada who bought a 1910 s in an ICG ms 67 red holder and it crossed to PCGS as a ms 67 red 10 s.He sold it on e bay for 40 K.

    Now THAT never happened to me !

    Stewart
  • lloydmincylloydmincy Posts: 1,861 ✭
    Yes, Jack, it was the 10s. Now stop talking about the ONE big score out of a million non-scores. I TOTALLY agree with tradedollarnut. I have been secretly and aggessively selling my high grade/low pop lincolns - I am happy for the guy who bought the ANACS (probably cleaned, so PCGS and NGC said no hahaha), 1938, but WHY???? millions of them, PCGS and its control power will open the flood gates on upgrades someday, and walla. Those owners of the million mintage lincolns with the high grades and low pops of 1-2, will turn to 5-6 etc.

    I'm OUT. Have fun. The copper 1943's, 1958 DDO - well, I would want the MINTAGE pops at 1-5, not 100-500 MILLION.

    This forum is 99% opinion. That was mine.
    The Accumulator - Dark Lloyd of the Sith

    image
  • jacktheknifejacktheknife Posts: 1,547 ✭



    Oops image

    Sorry, Russ.

    Of course now I remember it very well, because I bid on it on ebay.

    Jack


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