Heritage 1909VDB PCGS PR64BN sold $34,500!!

BWRC · January 7, 2008 12:50PM

Live auction January 9th afternoon.

ahooka454 · January 7, 2008 5:37PM

WOW WOW WOW WOW WOW!!!

New bet, I say $32,750... What say you...

BWRC · January 7, 2008 9:40PM

My new guess is $29,900 but something higher would not surprise me

Steve · January 7, 2008 11:21PM

It appears that the latest bid is from a new bidder. The question is whether there is another bidder out there or one of the other six current bidders who MUST have this coin at this time. We should know by tomorrow.

This is further confirmation that this coin is just NOT available except in auction venues like this. I continue to believe that 95% of the existing population (less than 200) is in collections of people who want to continue to own the coin. The other 5% or maybe 10 pieces can possibly be aquired thru private treaty with owners for a price the owner wants. Those pieces, again in my opinion are probably the high quality (PR65RD and above). Good luck to those bidders who are trying to get this rarity. Steve

commoncents05 · January 7, 2008 11:58PM

Yikes. That's crazy! Just further confirmation that it will be a long, long time until I own one.

-Paul

jacktheknife · January 8, 2008 2:41AM

I just can't wrap my brain around it. Any way I look at it, that kind of money for that coin seems excessive.

Call me crazy...

Jack

ahooka454 · January 8, 2008 4:41AM

jack, i agree 100%, but the fact remains, if you need it, its a really tuff coin. Even if you have a ton of chedda. I will wait till a nicer one comes along.(like that will happen).

That 16 is fetching $12k, I see $15-18K when its over. This should be interesting to watch...

DMWJR · January 8, 2008 6:18AM

It will be a sea of green in the PCGS price guide after the Heritage auctions.

lasvegasteddy · January 8, 2008 6:33AM

to think i once thought a 09-s vdb was the key date...then i come here and learn what sillyness that was in thought.
sorry to say i'm in the crowd that will never have one unlss i cherry one raw (still nice to dream)
glad to see by the way that it is getting the respect it is though

Steve · January 9, 2008 12:47AM

Internet bidding ended at $27,600. The live auction is this afternoon . Good luck. Steve

dbemike · January 9, 2008 2:59AM

I wouldn't think it'll go any higher.

Any one in the position to go this high, would be better off to pony up another 20K and get a really nice one. And this don't mean I'm saying the 64BN isn't nice for the grade, but has reached beyond its limits in price for the grade. Just my opinion.

Mike

curly · January 9, 2008 4:34AM

It just went off at $34,500 with the juice.

Steve · January 9, 2008 4:42AM

I was just about to answer Mike's comments with "yes, it did go higher" when I saw Curly's report. A phone bidder bid $30K and got the coin for an amazing $34,500. As we approach closer to 2009 I only wonder if, as Mike said you can get a better coin for that kind of money. Maybe you can. Only time will tell. The fact remains that regardless of grade, IF someone REALLY wants to own one, he or she will have to be willing to pay the price that an owner wants for THIS coin. This COIN is not the usual type of coin you can pick up from various sources. In some ways it is like the 1913 Liberty nickel. There is a definative number in existence and very very few available for sale. JMHO. Steve

P.S. I just noted the PCGS price guide raised the value of the PR64BN from $8,500 to $12,500. Think they may raise it again?

WaterSport · January 9, 2008 5:13AM

I wonder if we will "see" the coin appear on the registery, or be locked away in a trunk.

WS

DMWJR · January 9, 2008 5:38AM

If I spent that much money on a 64BN, you better believe I would put it in a set!

commoncents05 · January 9, 2008 6:15AM

Insane.

-Paul

lasvegasteddy · January 9, 2008 7:33AM

i still hope on cherring one in the raw or should i take my meds???

curly · January 9, 2008 7:43AM

<< <i>i still hope on cherring one in the raw or should i take my meds??? >>

I'm tellin' ya brother, that's not as far fetched as you might think. Walter Breen said that he used to earn lunch money doing just that before TPGs. Who's to know what will show up in some part time dealer's case at a local show. Just keep your eyes open and your mouth shut.

Steve · January 9, 2008 8:58AM

Please realize that when a 1909VDB Matte Proof Lincoln cent becomes available at auction the DEMAND is so much greater than the SUPPLY that GRADE is NOT necessarily the key point in determining what the coin will sell for. ONly about 200 are believed to be in existence and I believe 95% of those coins are in the hands of collectors who want to keep them in their collection at this time. That leaves only about 5% or 10 coins potentially available for sale and IMHO those 10 coins are also in the hands of collectors. Steve

-------------------------

Steve, I think your assessment of the situation is spot on. It'll be a long time before you go to a show and see a '09 VDB MPL laying in a case looking for a home. The demand for this bird is so huge that if a dealer does come across one, he'll sell it within minutes with a simple phone call. And the brother that wants one better get connected up with a dealer if he wants to get that phone call. This is one coin that the collectors own rather than the dealer.

-------------------------
I wanted to repost my comment earlier today on the coin forum and also Curly's respnse which I agree with 100%.

I believe Brian was at the FUN action today when the 09VDB was sold via a telephone bid, after the bidding went from the internet close bid of $24k to $26k to $28k to the final bid of $30k. If he reads this I would appreciate his description of the bidding process on the floor today. Thanks,

Steve

curly · January 9, 2008 11:09AM

Steve, brother I just spoke with Brian and he said MPLs were very hot. He didn't go into specifics but I got the impression that his inventory took a heavy hit.

He said that the MPLs went well in the auction. Here is what I remember. 1909 PR65RB PCGS..$2300, 1910 PR65RB PCGS..$2450, 1916 PR66RB PCGS..$13,800. Of course we all know about the VDB.

dbemike · January 9, 2008 7:14PM

Thats just unbelievable.

Congrats to Curly, for making the coin buy of 2007 in Brians auction in Nov. and to everyone that has the VDB, looks like a great payday.

Mike

jacktheknife · January 9, 2008 11:03PM

Congrats to Curly, for making the coin buy of 2007 in Brians auction in Nov. and to everyone that has the VDB, looks like a great payday

Not that I disagree with the comment, but it is interesting that this is how things work in the coin market. One coin goes for a price that I find ridiculous and suddenly all the others are worth the same moon money.

Jack

Edited to add a qualification about the subjective nature of my comment.

curly · January 9, 2008 11:20PM

<< <i>Congrats to Curly, for making the coin buy of 2007 in Brians auction in Nov. and to everyone that has the VDB, looks like a great payday

Not that I disagree with the comment, but it is interesting that this is how things work in the coin market. One coin goes for a ridiculous price and suddenly all the others are worth the same moon money.

Jack >>

Brother, what is it that makes my purchase price ridiculous?

Steve · January 10, 2008 12:06AM

Here are the results of the MPL's at FUN yesterday. All prices WITH the 15% juice:

1909VDB------64BN-------PCGS-----$34,500
1909-----------65RB-------PCGS--------2,185
1909-----------66RD-------PCGS--------4,887
1910-----------65RB-------PCGS--------2,415
1911-----------65RB-------PCGS--------2,300
1913-----------64RB-------NGC------------605
1913-----------65RD-------NGC---------1,495
1915-----------67BN-------NGC---------7,475
1915-----------66RB-------NGC---------3,450
1916-----------66RB-------PCGS------13,800
1916-----------66RB-------PCGS--------8,050

Steve

dbemike · January 10, 2008 12:12AM

Jack....I agree it can be a strange market.

I was just comparing the prices between the 2 VDB that sold within the last couple months...it makes Curlys look like the buy of the year, now had the 2 been side by side in the same auction, its hard telling what they would have went for. Availability, Availability, Availability is what it amounts to.

Congrats to the new owner of the 64BN also.

Of course the one Ira sold around May was also a great buy.

Mike

jacktheknife · January 10, 2008 9:15AM

Brother, what is it that makes my purchase price ridiculous?

Curly,
Point taken. I have edited my original comment.

Jack

EagleEye · January 10, 2008 9:45AM

BWRC here havin' a beer with Eagle Eye at the FUN show.

We do wish you were here talkin' MPL's.

Curly is really looking good with his buy. We're toasting you!

curly · January 10, 2008 1:29PM

<< <i>BWRC here havin' a beer with Eagle Eye at the FUN show.

We do wish you were here talkin' MPL's.

Curly is really looking good with his buy. We're toasting you! >>

You two brothers save a seat for me in Baltimore this summer.

WaterSport · January 10, 2008 9:16PM

Gentelman, Gentelman! This kind of coin and auction price will bring out another example for auction in 2008. I will bet my whole collection that the recent sale of this 1909 VDB Matte will look like a "Bargin Price" when the next one sells.

WS

Steve · January 10, 2008 10:56PM

Let's look a little more closely at this Fun sale where a 09VDB in PCGS64BN sold for $34,500. Now possibly Brian could shed more light on the bidding since he was there, but here is my take.

Eight different bidders participated according to the Heritage site. The UNDERBIDDER bid $28,000 or $32,200 with the juice. Think he (or she) still wants a 1909VDB Matte proof? What about the other six bidders in this auction. Think they might be willing to bid into the $20k+ to get this coin? I looked at the PCGS & NGC populations. Total = 144. Total of those that grade EITHER 64 or 65 = 98. That means that 68% of them are 64 or 65. 18 or 12% are 63 and below and 28 or 19% are 66 or above. Of course some breakouts and crossovers are in those figures too.

So what does all this mean to me? It means that most likely future appearances of this coin on the auction block will CONTINUE to command bids at the five figure and above level. While I continue to believe that all collectors want to own coins at the highest grade and the nicest condition they can afford, as it regards THIS particular coin, I believe those collectors who WANT this coin for their collection are willing to pay whatever amount they can afford to get THIS coin in ANY grade and condition as long as it is authentic and isn't just plain UGLY. JMHO. Steve

BWRC · January 11, 2008 11:06AM

Back from the show a little early but have to attend a more important event tomorrow. (Grandsons 4th Birthday party)

Here is how the floor auction went on the 1909 VDB proof. The coin went to the floor at $24K + juice($27,600). The auctioneer asked for 26K and immediately the bid was hit from someone from Heritage live or the phone. He then asked for $28K, two Heritage employees yelled bid at about the same instance. The auctioneer said "we have a tie at $28K" The tie was likely from Heritage live and the phone bidder. The auctioneer then asked for 30K and bid was yelled out almost immediately. It was the phone bidder at 30K!! Then he asked for 32K, everyone was silent and after about 10 seconds he said SOLD!! $30,000. Archives show it was a phone bidder who bought the coin.

I am going to write a market report as soon as I recover from my cross county flight (6hrs non stop). Many new records were set for BN and RB coins. There was a nice 1909 PR66RD that I believe also set a record for that date and grade.

At my asking Stewart brought a few of his exta MPL cents down to the show for my viewing. Take a look at what I got to look over and low and behold was able to buy one of these coins from him. Any guesses on the coin I bought? "the coin is already on hold to one of the guys on the registry top 20"

1910 PCGS PR66RD PQ!
1911 PCGS PR66BN Green toned monster coin, WOW!
1914 PCGS PR66RB One of the most eye appealing MPL's I have ever seen!
1914 PCGS PR68RD Yes Proof 68RED pop 2/0!! and its one of his EXTRAS!!
1916 PCGS PR67RB "OGH" and pop 1/0 super nice!

Edited for sp:

jacktheknife · January 12, 2008 1:07PM

On a couple of occasions over the past 20 years I've had the opportunity to sift through a few of Stewart's "extras". It's really quite amazing. He's got multiples of many of his coins. At one time he owned three 1918-S PCGS MS-65RD coins!

My guess is that you got one of the toners.

Jack

BWRC · January 13, 2008 10:58PM

Hi Jack,

WOW! 3 18-S lincolns, Stewart is a neat guy with tons of amazing coins. I was happy to buy the green toned 1911 from him.

Heritage 1909VDB PCGS PR64BN sold $34,500!!

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