Lincoln collectors: How much down side and up side is there to filling a Dansco with raw MS 1909-193

SanctionII

............. you pay between $10.00 and $200.00 per coin.

I have been doing so, trying to find eye appealing BN or RB coins in the 63-64 grade range to put in my Dansco Lincoln Album. I even have a few that are 65 in quality. For the Philly issues, the prices are at the lower end of the price range $30.00 or less and for the Denver and SF issues, the prices are higher. I am not a newbie when it comes to early Lincolns but I am not an expert either (in other words I could get burned or do ok, depending on each coin).

SanctionII

ttt. anyone?

kaz

I think that's a great idea, you can keep it at home instead of a bank vault,and not be worried about oxidants in the air or the album causing spots and so forth, you can actually ENJOY your collection! It's still a hobby, isn't it?

Steve

The downside is you could lose A LOT OF MONEY if your grading isn't in line with a potential buyer. The upside is you can enjoy your coins for the fun of collecting a complete set. I assume when you say MS 1909-1933 you DO mean MINT STATE. Good luck if your collection includes a 1914D. Steve

FishyOne

"............. you pay between $10.00 and $200.00 per coin."

Sounds like a great idea but I'm wondering about the Lincolns in MS that are OVER $200. I can think of about 10 Dates/Mints that can't be had in MS for under $200.

Those keys/semi-keys are what really makes the collection and at today's prices you'd have at least $5K in them to get MS coins.

Are you going for a complete set?

oxy8890

Sanction.

Good luck on your endeavor if you choose to embark on it. The upside is the hunt (If you enjoy it). The downside is: most of the attractive coins before 1935 have been slabbed. But they are out there although few and far between. I have combed much of California (Northern extensively) and many are still around but it will take a lot of time (and gas).

If you're diligent, I believe you will find some amazing coins and have some great stories. I know I have built some great memories over the past few years. But at the same time, be careful I would say 95% of the pre 1935 Lincolns out there for sale that are old, raw and touted as some form of uncirculated would not be slabbed by a tpg like PCGS. Many have been worked on, preserved, buffed, recolored, cleaned etc. In other words, they are often raw for a reason.

One last suggestion if you choose to accept your potential mission: Stay the he!! away from EBAY, a computer monitor and a camera (on your end and theirs) 99% of the time benefit the seller and muddle the true color of the raw coin online.

There are exceptions to this rule just ask Arizona Jack but they are rare.

I'm sure you already knew most of the information here but I do hope this helped a little.

Good Hunting

RedTiger

Downside is about the difference between MS63 price and MS60 or AU58 price. Looks to be about 60% for most of the coins.

Given the $10 to $200 range given, I take it that the key dates are not going to be included. Putting MS key coins could potentially involve many thousands of dollars worth of downside. Hey, its only money .

BECOKA

Upside is that 1 Dansco Album takes up significantly less than the equivalent in slabs.

Bochiman

If you can grade the series, and can buy most of them on the BST, or in person, or from someone who you trust and whose grading you trust on ebay/online, then go for it.
As noted, there are a few that blow that range out of the water but I think you already knew that.

I would say that I doubt you would recoup the "investment" if you go to sell it whole, unless you do it in person (or again, maybe the BST), and you should probably realize that, when it is time to sell, piecing it out would likely net you a larger recoupment of your monies.
If you are ok with all of that, go for it. More upside to enjoying it than downside, IF you can handle the financial risks.

IrishMike

The only downside I see is that you won't be able to advertise the set for sale in the Registry Forum should you tire of it after 6 mos to 18 mos.

SanctionII

Thanks for the thoughtful and informative replies. Maybe a few more will be posted.

I have been working on the Lincoln Dansco for 3-4 years now, a little at a time. I picked up the album and started filling it with MS and circulated coins from my existing collection and from pocket change when a new year arrived. This filled most holes with a hodge podge of coins.

Next I started looking for raw MS 1934 - present wheats and memorials to use as upgrade candidates for circulated and MS coins in the album. Sometimes I found single coins and sometimes I found a bulk run (for example some MS wheats in the 1940's and 1950's in Raymond Waite holders which upgraded almost all of the 1940-1958 wheats to MS RED or RB). Sometimes I also came across and bought 1909 - 1933 raw MS wheats as singles or as a group (maximum of 5).

Today, all coins from 1935 to the present are mostly MS Red (some RB) ranging from 63-66 (65-66 for some of the memorials, including those obtained from SMS and regular Mint Sets). Most of these coins were obtained for $1.00 or less, some from pocket change. The most expensive was a 1970S small date MS memorial I bought from a local B&M I frequent.

The 1909 - 1993 coins have been very interesting to hunt for and take the plunge on.

Thus far I have examples of the 1909 VDB, 1909, 1909S, 1910, 1918, 1919, 1921, 1923, 1924, 1929S, 1930 1930A, 1931D, 1931S, 1932D and 1933 in MS (though the 1918 may be AU). The 1909 and 1930D could get a Red designation. The others range from BN to RB with a wide range of colors (deep brown, to brown/orange to rainbow, to plum) and to be candid I would not be surprised if some of these have been played with. My current favorites are the 1090 VDB, 1909S, 1910, 1924, 1932D and 1933. The most expensive one is the 1931S followed by the 1909S. All others were far less expensive.

I am going to continue looking for raw MS upgrades for the remaining Philly and branch mint issues. Some of these may never show up raw at a price I am willing to pay. If not, then the holes will remain filled with circulated coins (EF-AU) unless I start buying slabbed coins.

I see many, many dealers at local and regional shows that have substantial numbers of raw MS early Lincolns. Some dealers have a general inventory. Some specialize in Lincolns. I like the look of some of these raw coins while some of them scare me away. I have always wondered if the substantial numbers of these raw Lincolns means:

a. they were submitted for slabbing and got body bagged (once or twice or more) or have not been submitted for slabbing because the owner/dealer knows they will be body bagged as messed with; or

b. they are coins which would be slabbed but have not yet been submitted for slabbing because of various legitimate reasons.

In any event I will continue to hunt for upgrades to the album and have fun doing so. None of the coins in my Dansco Lincoln album have toned or developed carbon spots. Thus far the album seems to be quite stable.

A local dealer I know showed me a Lincoln Dansco he has had for decades that he is still working on. It has numerous MS Red early Lincolns, including a 1914D. It looks great. I asked if the album has caused any of the coins to tone, develop carbon spots, etc. he said no.

How common is it for collectors to collect raw MS Lincolns in a Dansco Album? Do you have such an album? If so, have you enjoyed filling the album and what are your long term plans for same?

21Walker

Don't know about anyone else, but I started my Lincoln collection in 58 or 59 from pocket change. I took all the coins out of the original folder and put them in a Dansco. My Lincoln collection doesn't look anything like the original collection. All 34 and up are red BU but I think this will change due to album toning. The rest of the set is fine to AU including a VF 09 SVDB. I feel that since I started this set in the 50's, I will leave it to one of my grandsons who show a definite interest in coins and I nurturing him..............Rick

droopyd

<< <i>Don't know about anyone else, but I started my Lincoln collection in 58 or 59 from pocket change. I took all the coins out of the original folder and put them in a Dansco. My Lincoln collection doesn't look anything like the original collection. All 34 and up are red BU but I think this will change due to album toning. The rest of the set is fine to AU including a VF 09 SVDB. >>



We're pretty much in the same boat, it would appear, though I'm probably in the deluxe second class cabin with mostly AU/low MS coins in 1909-33. Still looking for a way to hold the raw red BUs to minimize toning, I think I'm deciding on Intercept Shield 2x2s in Eagle display pages.

21Walker

We're pretty much in the same boat, it would appear, though I'm probably in the deluxe second class cabin with mostly AU/low MS coins in 1909-33. Still looking for a way to hold the raw red BUs to minimize toning, I think I'm deciding on Intercept Shield 2x2s in Eagle display pages.

I'm with you there. I have never liked collecting red BU copper because they never stay red. I keep my coins in a climate controlled environment with silica gel bags changed regularly and they still tone/brown. Oh well it's still fun.........Rick

WaterSport

Well... I have a set in Capital Plastic Holders. As I finally decided to go MS 8 years ago it did not take long before I was getting screwed with cleaned junk. That was the reason for going to Slabs. Only problem is that I went totally to slabs, and let the 1909-1930 series of Capital coins just sit. I finally upgraded a few slabs and then would crack the seconds out and put them in the Capital board. Now that my grading skills are better, I buy a few raw ones, trying to stay in a $100- $150 range. So its doable, but your still not going to get a few coins (you know which ones) for under $200 no matter what condition. But with some luck, I think it can be done. I have a bout a dozen S mints to go.

WS

Tvac897

<< <i>I think that's a great idea, you can keep it at home instead of a bank vault,and not be worried about oxidants in the air or the album causing spots and so forth, you can actually ENJOY your collection! It's still a hobby, isn't it? >>



-lol agreed

Robb

Would love to see some pics, SanctionII.

Mowgli

<< <i>How common is it for collectors to collect raw MS Lincolns in a Dansco Album? Do you have such an album? If so, have you enjoyed filling the album and what are your long term plans for same? >>



With all the coin doctors and stuff that goes on eBay, I would expect fewer collectors to buy the 1909-1933 raw unless they were very confident or bought from a dealer who bought the coins raw and doesn't slab them - there are some who sell them just like they buy them.

I completed a raw MS Dansco set in 1994. If memory serves me I bought 1941-1958 full red BUs for very little and even less for the 1959-1994. I'm pretty sure that I bought them sight seen as I learned that it is hard to buy true MS coins by mail. The 1909-1934 were mostly MS 63s in RB as I assumed that reds would turn anyway and they were much more expensive. The best I can tell they have not changed color since 1994.

Aesthetically, I love the way they look in the Dansco. I expect to have to slab them to sell them or find a buyer who can grade Lincolns. regardless, I have had them long enough that I would make money even if every one of the earlier dates was an AU 58.

DieClash

<< <i>Would love to see some pics, SanctionII. >>



Ditto!