When you buy a coin, the registry should be a secondary benefit (especially with an MPL)

DMWJR

That is why I bought Stewart's 1914 PR68 Red Matte Proof Lincoln.

Some consider Stewart a collector and a dealer, but he has been nothing but a gracious and helpful fellow collector to me over the last 6-7 years, helping me improve and develop my set into what it is today. Yes, he has sold me several proof and mint state Lincoln's over the years, but it felt like nothing more than a friend offering an assist whenever he could. What a great way to enjoy our hobby!

Back to the coin -- I was really on the fence with this one. Stewart had offered it to me months ago, but I was really conflicted about spending $100,000 on a non-key MPL. I didn't feel like the circumstances were right at the time, so I passed with great thanks for the offer. Then the coin went to Heritage for this auction. I watched every day, considering and reconsidering, and I couldn't get the coin out of my head. One night a couple of weeks ago, Stewart send me an e-mail telling me that this coin really should go into my collection. I guess that was all the prompting I needed to book a flight to Chicago for the auction, figuring that at least I could view in person one of the finest MPL's in existence at a minimum.

You see, Stewart made all three PCGS PR68 mattes almost 20 years ago, and they have been neatly tucked away since then. Even if someone else bought the coin, I would get to see one in person before it was tucked away again for a decade or two. That would be worth the cost of the trip to me anyway. So when I arrived in Chicago, I immediately hit the hit the bourse floor to see some friends, including Angel Dee's, my favorite dealer. I met up with Stewart, and then went to view the coin. I was not disappointed, to say the least. The coin is all there -- a true monster. The coin looks a fresh as the day it was struck, with stunning detail and just a wisp of orange toning on the obverse between 3 and 6 o'clock. I was a little concerned by the toning when I saw the Heritage picture, but in hand the coin tells a different story. The toning is a more subtle orange than the picture shows, and it blends wonderfully into the fiery color of the coin.

After viewing the coin, I knew that Stewart was right and that the coin had to go into my collection. It was a perfect coin to go with the rest of my set. I no longer collect red-brown or colorful mattes, and truly a coin of this caliber would look out of place in a set like that. I still had an hour left to place a bid through the internet, so I hustled back to my room and pulled up the coin. I had never punched in a bid of "100,000" for a coin before, so I was very nervous and stared at the screen for about 10 minutes before hitting the "enter" button. I did, and the first screen that came up was the one that said "You have been outbid!" Wow, my heart sank! I wasn't sure what to do, so I waited. When there was about 10 minutes left, I placed my next bid and was rewarded with that phrase "You are the high bidder!"

At the auction, I was very nervous. I sat behind Stewart, his lovely friend Laura, SaintGuru, and Dr. Duckor, feeling like I was in high cotton. When the lot came up, I held my breath as it opened at $110,000 from an "internet bidder" knowing that it was my bid. It seemed like an eternity as the auctioneer said those famous words "going once .... going twice ... GONE!" I was beside myself! I know EagleEye said there was applause and light laughter from the second row (where we were seated), but I don't remember any of it. All I could think about was that I owned that coin! (I think SaintGuru had the same experience later in the auction, and maybe he will tell it soon).

If only every coin purchase could be this way! Nevertheless, it will forever be a part of my 1914 MPL experience, and I will cherish that memory always. Isn't that what it is all about anyway?

Thanks also go to Todd Imhof at Heritage for providing me with a painless way to sell some other non-Lincoln coins in my collection, and making this purchase totally pain free for me.

Hopefully, I can image this coin in a way that represents its true beauty, and I will post them when that occurs.

dpoole

Wonderful story, Doug. Sincere congratulations.

TAClough

<< <i>When you buy a coin, the registry should be a secondary benefit >>



Congrads! But I dissagree with your title. The only thing that matters is "if you like the coin" and "if you can buy it right or liveable". It would also be nice "if when it is time to sell, you can get most of your investment back".

As far as the Registry is concerned, well let me jsut say that I haven't been much impressed with their level of "consistancy" lately.

commoncents05

Excellent story, Doug. Glad to hear that it went to someone who will really enjoy it.

-Paul

BAJJERFAN

Sounds like here MPL stood for Maalox Proof Lincoln.

DMWJR

Thanks dpoole. I know you know what I am talking about! It's been a couple of years since I stalked a single coin, and I had forgotten what a thrill it was.

I've updated my set to show where a couple of the coins came from. The 15 should be in a 66 holder -- maybe it will be one day.

Link to set

speety

Great post!

curly

Very nice post bro, and congratulations on your recent acquisition.

Grasshopper

Doug-

Sincerely, that is a well-told account. What a thrill. Congratulations!

Duane Blake

lasvegasteddy

congrats there doug,
just from heritage images i could tell it was a true monster.pcgs just doesn't hand out pr68 on early copper.i find it neat you share with us this story too.it's more then hobby when the passion card is told and your set is incredible to say the least.
thank you for sharing with all sincereity

pennyannie

Doug- Thanks for sharing your story. I like to know the rest of the story and most of the time you never know. I am glad you ended up with this rare MONSTER and not some group of plastic surgeons in hollywood or some dealer. I think a lot of guys on here go thru the same when buying some coins. ( just on a LOT SMALLER $$ amount) Sounds like a win-win deal for both to a degree. I am glad to know you plan on keeping this for many many years to come.

Now for Stewards story- What are you going to buy with Dougs money? I see your name popping up on a 1917 DDO Lincoln??

MarkJude

Doug -

Thanks for sharing your story -

I can only dream of the chasing down such a coin and relish the chance to do so in your tale.

Thanks!

Mark

STEWARTBLAYNUMIS

FIRST LET ME CONGRATULATE DOUG ! The coin found its proper home and its new owner will certainly appreciate and cherish it.Doug is a true gentleman,an extremely passionate collector
and more open to share his joy than many collectors.
I will comment about how open,nervous and honest Doug was before the auction and I bet it will astound most of you.He informed me by e mail he was coming to Chicago the day of the sale to view the coin and gave me his cell phone number.It turned out it was his wife's cell phone number.The next surprise came after Doug viewed the coin,and fell in love with it.I introduced Todd Imhof to Doug so he had options in which to bid such as being a floor bidder,internet bidder,phone bidder or arrange for a beard in the room.Doug chose to bid on the internet and told me before the auction how much he was bidding and HE HAD PLACED A BID FOR MORE THAN HE PAID FOR THE COIN.YES.Doug was prepared to pay more for the coin.
Yah gotta believe in matte proof Lincolns ! I believe they have not as yet peaked.

Stewart

ps My collection of matte proof Lincolns will be on exhibit and open for viewing in Baltimore in July at the ANA

Steve

I think I share the same feeling many of the posters here feel about Doug. "Someone whom we all know from these boards won a very significant coin at a major coin auction. He's 'one of us' and although we may not be able to compete for coins like this we can participate in a small way by reading and enjoying the passion a fellow collector has about his GREAT Lincoln cent collection." Thank you Doug for sharing this moment with us. It is part of what makes these CU coin forums such an enjoyment. Steve

Steve

And thank you Stewart for sharing YOUR comments about Doug. Steve

RBinTex

Great strory and comments.

ambro51

But Gentlemen, I need to ask.

Why do you choose not to put photographs up on your MPL registry sets?

robec

I would love to see images of these world class sets. I have my drool bucket ready.

cohodk

Congrats Doug.

Thank you for sharing your story. I know that coin will again be off the market for another 20 years.

Stooge

Doug,

Your story is so convincing, I feel like I bought the coin. Lots of sincere passion and nerves of steel to place a $100,000 bid, something that I will probably never do in my lifetime.

I don't own a MPL, but with your story (And hopefully pix) I can enjoy them just a little.

Congrats.

Paul.

EagleEye

Doug,

What a great post. It reads like a true collector story with everyone happy. I am very happy for you. (and Stewart as well). The coin is a real beauty!

BTW, the laughter may have come from Brian, sitting next to me. The applause started from us.

DMWJR

It gives me great joy to read these comments (That might be the most gracious post I've ever seen Stewart write!).

The reason is not so much about the coin, but the experience. I've been back into collecting as an adult for 15 years and bought my first matte proof in 1999 never dreaming I could build a set like this. I build a low grade bn set, then began upgrading to gem rb's and eventually to the reds. I've probably bought 40 mattes over the last ten years. At almost every level though, I had an opportunity to "chase" a coin. I built a complete set of Roosevelt dimes in mint state and proof (I don't think the proof set will ever be surpassed in grade), a complete set of Washingtons in 66, with the exception of the 32-d and 32-s which were 5's, and all major varieties in 5 or 6. But I have always come back to Lincoln cents, and never has my passion waned for those.

Matte Proof Lincolns capture every facet of the hobby that I enjoy. There is a natural rarity there that mint state wheats and all memorials do not have, outside of flukes and varieties. At the time Mattes were created, the design was basically unadulterated like later cents would become, and on top of that they were struck in a manner to show off their beauty.

Then each has its own individual attributes. The vdb's are what they are. 09 plains have satin and grainy varieties, 12 were the most poorly made with no real gems to speak of in red. 13 was a plentiful year based on availability over the last five years. Design changes and the very best production occurred in 14, and more detail added to the 15 and 16.

To me the MPL's represent the finest examples of the most popular collectible coin in history.

Ambro and Robec, it is hard to get a picture of these proofs and truly capture the essence of what you see when you hold it in your hand. I have posted a few of mine on the boards, but I can't say that I am totally happy with the representation. At this point I have a glass ceiling with upgrades being locked up in sets above me, so it may be time to send them for true view, but I haven't come to grips with getting them reholdered, which would be required.

Anyway, I'll say thanks again and leave pics of two of my most cherished MPLs for you guys -- the 09vdb and the 09 plain

DMWJR

<< <i>Doug,

What a great post. It reads like a true collector story with everyone happy. I am very happy for you. (and Stewart as well). The coin is a real beauty!

BTW, the laughter may have come from Brian, sitting next to me. The applause started from us. >>



Rick, it didn't matter. The only thing going through my mind was "I just bought that coin!" I was oblivious to everything else!

RegistryNut

Wow! What a great post to read. I could actually feel your excitement, and your passion is so incredible. That coin looks very much at home in your marvelous set. Thanks for sharing the event. Your fellow collectors and Forum members are all feeling real good about our hobby. This is what collecting is all about. The chase, the passion, the friends, and the sharing. Way to go Doug!

RegistryNut

dbemike

Doug, Congrats!!

LeeG

Thanks for sharing a true story of what being a collector, with passion, is all about. The images of your 09 and 09 VDB are very nice and no doubt the 1914 is a treasure!!

ambro51

Doug, your pictures rate A OK with me, but you are right, it is hard to capture the **personality** of the MPL with an image. Nothing beats a good loupe and a captured reflection from an incandescant bulb. If I can set up my camera and lights to nail this look, Im happy.

I enjoyed your post on collecting these coins, and can only add that the 1910's have some beautiful granularity and toning, and the 1911's can have sensational detail and colors in the BN.

Lincolns are a huge set, and frankly even though I like them, Ive no interest in working toward the full set even as a long term goal. The Matte Proofs offer an excellent alternative and offer a great rarity (VDB), a mythical coin (1917), Perfection of the design (1916) and reasonably priced examples to get your feet wet (1910). Each is an individual work of art, thanks to the amazing toning and surfaces.

My current favorite, a 1913......."desert sunset"

EagleEye

Yup....Pretty close!

ambro51

LoveMyLiberty

Doug,

May I add, you are an inspiration to all coin collectors by showing the way to
achieve your goals. It is not about the money. It is the willingness to pursue
the best at whatever level one aspires to.

Your eloquent description of this event only adds to your achievement.

Secondly, congratulations go to Stewart Blay for his kind helpfulness in
releasing some of those astounding treasures he has keenly amassed
over the years. Coins that spark the engines of collectors everywhere.

SanctionII

I have enjoyed reading this thread, tremendously.

It serves as a great example of what enjoyment this hobby can bring to a hobbyist. The seller, buyer and third party observers of the auction all have gained from the experience presented by the sale of one extraordinary coin.

The same experience is gained everyday by collectors at every level in the hobby, from decades long collectors with resources that allow them to play in the deep end of the hobby pool to a 10 year old YN who finds a raw high grade 1991 D Lincoln cent that fills a hole in his or her Dansco Memorial Album in a B&M shop for $1.00.

Kudos to all who have posted and long live the "Hobby Of Kings".

oreville

Rick Snow: a humorous picture!!

LOL.

Silverstate

Doug,
Great Story. I love the story of the hunt!
The hunt is great and it ended with you getting the prize!