2003 MS70 LINCOLN SALE-sold for $13,500

Steve · September 27, 2006 11:49PM

Today is the day that Teletrade auctions off the 2003 Lincoln cent in PCGS MS70. Results should be in around 10PM eastern time.

Any last mintute guesses as to what it sells for?

Steve

ellewood · September 27, 2006 11:54PM

Steve, you beat me to the punch!

LINK TO TELETRADE AUCTION

My guess is that it goes for $18K WJ.

ellewood · September 27, 2006 11:58PM

I wonder if Legend is going to take a stab at it for their inventory

Does Stewart shop via Teletrade???

Regardless, it outta be interesting to see who ends up with it.

seanq · September 28, 2006 2:24AM

I predict it will not meet the seller's reserve.

Sean Reynolds

Datentype · September 28, 2006 2:31AM

<< I predict it will not meet the seller's reserve. >>

LincolnsRule · September 28, 2006 3:14AM

$5000-$7500. If it sells for more it's probably due to type collectors. I'd be very surprised if it hit $10K.

mas3387 · September 28, 2006 3:26AM

<< Any last mintute guesses as to what it sells for? >>

It won't be on your watch list in the morning, unsold

centmaster · September 28, 2006 5:01AM

It just opened at 11K

Datentype · September 28, 2006 5:11AM

$11K???? I predict that it's a carefully correographed number that shows movement from that number on up to $15K or so to make it look like there is a bidding war going on. The computer will pop it up by increments most liklely and then top out at a pre-determined number and the seller - whoever that is strikes a no cost deal with Teletrade. There is of course the chance someone has deep pockets and this kind of money is nothing to them. It will be an interesting marketing scenario for sure. i won't be watching it but I would love to hear how it was correographed by Teletrade and the seller.

TheNumish · September 28, 2006 6:17AM

Here is a pricing poll I started a while back2003 Lincoln Cent Poll

mas3387 · September 28, 2006 8:10AM

<< $15K or so >>

For some reason I'm thinking $16.5K

I still lean towards a no sale

zkcoins · September 28, 2006 9:50AM

<< 

<< $15K or so >>

For some reason I'm thinking $16.5K

I still lean towards a no sale >>

I have to agree. I have a feeling that it won't sell.

It is at $13k now 13.5 next bid

ellewood · September 28, 2006 11:38AM

Probably some snipers in the weeds waiting until about 9:58 or so...

it may very well end up in the $15-$18K range...who the heck knows.

Bunker · September 28, 2006 12:15PM

Looks like $13,500 was final price.

Steve · September 28, 2006 12:16PM

It's official! The coin sold for $13,500. Steve

tradedollarnut · September 28, 2006 12:20PM

Congratulations, Stewart!

wondercoin · September 28, 2006 12:24PM

Congratulations to the submittor and the winning bidder! Looks like both are happy campers! Wondercoin.

futureshock2038 · September 28, 2006 1:01PM

I know that everyone on the board wants to know the origin of this coin. The coin came from a mint set that was purchased from my local coin shop of all places. It is because of mint quality control error that this mint set was even purchased. The Philadelphia envelope had two sets of quarters, so to get the 100 pennies I needed for a bulk order I had to venture out to my local coin shop to get the needed penny. Of course the mint set was way overpriced, but now that appears to be a steal!!!

Karl

LincolnsRule · September 28, 2006 2:42PM

Gosh I hope you went back to the shop and bought (or looked through) the rest of their 2003 mint sets. Runs of mint sets with super nice coins (of maybe only one particular mint and denomination) totally can happen. It'll take a long time for all the ms70's to be found, but if one wants one all you need to do is enough searching. So I wonder if $13K was the reserve? I wonder what it would have brought no reserve. Anyway, congratulations again futureshock on a great find.

cladking · September 28, 2006 3:03PM

<< I know that everyone on the board wants to know the origin of this coin. The coin came from a mint set that was purchased from my local coin shop of all places. It is because of mint quality control error that this mint set was even purchased. The Philadelphia envelope had two sets of quarters, so to get the 100 pennies I needed for a bulk order I had to venture out to my local coin shop to get the needed penny. Of course the mint set was way overpriced, but now that appears to be a steal!!!

Karl >>

Thank you for the info. This is always of critical importance to those seeking the coins.

Congratulations. It was really a great price even though it might have brought more.

DennisH · September 28, 2006 3:24PM

$13,500 + 12% buyer's fee, right?

That would be $15,120 bottom line.

Coppernicus · September 28, 2006 3:54PM

Buyers beware! What do you think the next MS70 will go for? The next? The next?

Too many potential 70s out there for me. Now show me a 1923-S in 65RD and I'll show you some strong bidding - not many of these will pop up in the near future...

Mike

larrynj · September 28, 2006 11:53PM

will more ms-70's be made? sure, but this 2003 will always be "the first ms-70" lincoln cent, regardless of how many more are made down the road. that distinction alone adds lots of value to the coin/plastic.

cladking · September 29, 2006 12:30AM

<< Buyers beware! What do you think the next MS70 will go for? The next? The next?

Too many potential 70s out there for me. Now show me a 1923-S in 65RD and I'll show you some strong bidding - not many of these will pop up in the near future...

Mike >>

Of course in this case you may well be right but generally it's not the recently dated coins
turning up but rather the older coins. They were saved for variuous reasons and many were
saved inadvertantly as well since the mint made no attempt to rotate their coin stocks until
1972. None of these reasons apply to moderns and they generally weren't collected.

Even ultramoderns are not being saved in the kind of numbers or the fashion so many seem
to think. A very large number of the mint sets have been searched and only one has turned
up. Sure more are possible but it's a certainty that a keg of them won't be found holding a
door open somewhere.

MoneyLA · October 1, 2006 8:07PM

larrynj wrote: "this 2003 will always be "the first ms-70" lincoln cent, regardless of how many more are made down the road. that distinction alone adds lots of value to the coin/plastic."

sorry, but once more are made the value of this original will drop. the only thing that will "insure" this coin's value is that not one more coin is made.

RBinTex · October 2, 2006 12:17PM

Yeah, the "first" one will ALWAYS be worth a SUBSTANTIAL premium - NOT

cladking · October 2, 2006 3:03PM

<< 

sorry, but once more are made the value of this original will drop. the only thing that will "insure" this coin's value is that not one more coin is made. >>

You may well be right but then again this may not be true. People always seem to overlook the simple
fact that demand for moderns is extremely weak compared to classics. The total value of all moderns is
a small fraction of the total value of all classics and this is even more true if you subtract out metallic value.

What happens if modern demand continues to grow. It just wouldn't take that big a change to get a 5X
increase in total valuation. While I'm not predicting this will occur or that the increase would necessarily
be concentrated in the high grades but were this to happen the price of this coin could soar even with more
being graded.

I've looked at enough sets that I know the chjances of more being graded is a possibility. I've seen 1986
to date cents that are simply unreal and look more like branch mint proofs than like circulation strikes. I've
seen pocket change cents that were nearly flawless. Some people will look at this and see common coins
but I look at it and see an opportunity for even less well heeled collectors to assemble incredible sets.

Imagine if there was real deptrh to the collecting of such coins. Imagine if there were 1% of the amount of
money going into memorials that is going into indian cents. I can imagine.

RegistryCoin · October 2, 2006 3:43PM

<< You may well be right but then again this may not be true. People always seem to overlook the simple fact that demand for moderns is extremely weak compared to classics. The total value of all moderns is a small fraction of the total value of all classics and this is even more true if you subtract out metallic value.
What happens if modern demand continues to grow. >>

CK-- You are exactly right to point this out. In FACT, this is exactly what has been/is happening in the realm of the plats. The demand is small, like you point out. Small increases in the number of collectors are simply outpacing the increase in top pop coins available, so top prices paid are being topped the next time a coin is made available to the marketplace. Prices are going up as the pops rise. Also as you said, this is occuring regardless of the base metal values, which in the plats is much more tangible, yet has nothing to do with the price increases of the top pop coins. It all has to do with demand, and, as you point towards, with such low demand as compared to the classics, the same rules for the classics just do not necessarily apply to the moderns. Like you mentioned, imagine 1% of classic commem. money going into plat. commems... zoom, zoom, zoom! CK: You hit the nail right on the head!

2003 MS70 LINCOLN SALE-sold for $13,500

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