Lincoln Cent auction results impact retail market

WashqrtrsRme

For those of you who are Lincoln cent collectors, it appears that the resulting record prices of Dan Close's Lincoln cent ANA auction have already impacted the PCGS Price Guide. As we all know by now, many of Dan's coins sold for record prices and these prices are reflected today in the PCGS Price Guide. For example, the '17-S, '18-S and '18-S, all PCGS MS65RD coins, sold for record prices, far and above listed retail prices. All the better-date coins impacted in the auction, and there were many, are reflected today in the PCGS Price Guide. Higher retail values are shown, with several coins going up substantially in MS65RD, MS66RD and MS67RD.

For all of us who collect Lincoln cents, I believe this can only be viewed as a positive sign for the well-being and future of this market. I think Dan's auction results will have a far-reaching impact of the market over time, not only for mint state coins, but for circulated coins, as well. As reported in an earlier post in regard to Dan's coins, it appears that the Lincoln market is indeed alive and well and I couldn't agree more!

With the upcoming 2009 bicentennial of President Lincoln's birth, and of course the centennial of the Lincoln Cent, I believe that it seems quite logical that this event will likely stimulate the Lincoln market even futher. I cannot help but think that 2009 will find more interested Lincoln collectors, as well as many new coin collectors who will become interested in Lincoln pennies.

I'd be interested to hear the thoughts of you other Lincoln collectors out there. And for those contemplating putting together a set of Lincoln cents, my "two cents" worth would be to start sooner, not later!

Happy collecting!

Tom Schiera

Bochiman

I'm glad for Dan but, at the same time, I am not done with my collecting so the increased prices isn't helpful to me. I see it only helpful to those that are selling.

WashqrtrsRme

Bochiman,

I agree with what you said and point well taken. If you do start or are still working on a Lincoln collection, I would feel pretty good about it in terms of the investment potential for the future, regardless of current retail pricing. For those of us who collect, there's always a risk factor involved, much like playing the stock market...will we at least break even or hopefully profit, when we sell?

If you collect more out of pure love for the hobby, then regardless of the market, it's alway rewarding, at least I think so. Hopefully if and when we ever decide to sell our collections, we will be blessed with good timing and keen collector interest.

Good luck with your collection(s)!

Tom

WaterSport

I doubt these high end coins are really going to affect my meager R&B collection. As I watch 2-3 percent price jumps for identical coins I bought just 2-3 years ago, I would doubt any additional percentage increases of the same size if it weren’t for 2009 which will put Lincolns in the fore front for a while longer and will have a bigger across-the-board impact on all grades/prices IMO. But we can all agree Dan's set was an achievement we can all appreciate.

WS

cohodk

The PCGS price guide has 1915 MPLs in 66 BN at $1000. There were 2 in the HA auction that sold for $3200 and $4600. The guide is still WAY WAY WAY out of touch with MPLs.

Wingsrule

Don't feel bad - the 1894-S barber dime in proof 66 still hasn't been updated. That number is off by $500K!