The Jack Lee Lincoln Cent Collection
STEWARTBLAYNUMIS
Posts: 2,697 ✭✭✭✭
The Jack Lee Lincoln Cent Collection will be sold at FUN in January. He has the #2 PCGS Set Registry collection.
Who are the new players ? This will be the first auction of Lincoln cents in 2009. It is also the 100th anniversary of the Lincoln cent and the 200th anniversary of the birth of Abraham Lincoln.
One thing for certain is opportunities will abound.
What are some thoughts about this collection?
Stewart
0
Comments
WS
Gee, that coin will be fun to watch! Any ideas as to who might want to upgrade their 1926S?
RegistryNut
It sure would be nice if "Shylock" would image this set,,,like he did for Stewart's !
Do you hear me Paul ?
R.I.P. Bear
There are a lot of Lincolns there I'd love to be able to see.
That 42-S and 42-D in 68 for instance.
Amazing.
"Inspiration exists, but it has to find you working" Pablo Picasso
Any interest Stewart?
Stewart,
I don't think the coins are going to be in the FUN auction. Right now, they are listed in the December Houston Signature auction.
Although I have mixed feelings about it, there are a couple coins I could use. I was just getting to know Jack. He was a really nice guy. I had sold him the 17-D in 66 and a couple weeks later he was gone.
Jack
Hi Paul (Shylock) I have no interest whatsoever in the 26 S in 65 red .
Jack the knife - And so it was you who sold him that P.O.S. 17 D in 66 red.
Jack will have a bunch of coins in FUN also because he bought the infamous Scott Corwin collection.The big question is if the coins will be reserved.I have no doubt Heritage will protect Jacks coins.He paid $120,000 for the 26 S.Do you think Heritage will let it go for 50 K ? I doubt it.
I feel bad because after Jack saw my coins at the ANA he decided he had enough and sold his 09 S VDB in 67 red.His favorite coin in my collection was my 1954 in ms 67 red. RIP Mr. Jack Lee.
Stewart
Jack the knife - And so it was you who sold him that P.O.S. 17 D in 66 red.
Stewart,
You got me there. I agree, the 17-D is not a pretty coin. It clearly didn't fit with my set. Jack and I reached an appropriate purchase agreement. An interesting finding, however, is that the Mershon coin has the exact same smudge in the right obverse field. Very strange.
Jack
Jack - Both of those 17 D cents were submitted by a former grader at PCGS in 1989.
Didn't you buy that 17 D in a Teletrade auction ?
Stewart
Stewart,
You are scaring me!! Yes, it was from a Teletrade auction about three years ago.
In a couple months, let's see if you can tell me which coins I bought from Jack's collection. If you get it right, I'm going to start bidding through an agent.
Jack
<< <i>Jack the knife - And so it was you who sold him that P.O.S. 17 D in 66 red.
Stewart,
You got me there. I agree, the 17-D is not a pretty coin. It clearly didn't fit with my set. Jack and I reached an appropriate purchase agreement. An interesting finding, however, is that the Mershon coin has the exact same smudge in the right obverse field. Very strange.
Jack >>
So Jack was just buying plastic?
<< <i>
<< <i>Jack the knife - And so it was you who sold him that P.O.S. 17 D in 66 red.
Stewart,
You got me there. I agree, the 17-D is not a pretty coin. It clearly didn't fit with my set. Jack and I reached an appropriate purchase agreement. An interesting finding, however, is that the Mershon coin has the exact same smudge in the right obverse field. Very strange.
Jack >>
So Jack was just buying plastic?
Both Jacks?
Why stop at two icons?
This is now the Tom and Jacks Show
All three players had a 17 D Lincoln Cent in ms 66 red with a smudge in the right obverse field at around 3 o"clock.
Stewart
Here is the text from the email Heritage just sent out:
Coin News... #1 All-Time Finest Lincoln Cent Set in Houston Auction
The Professional Coin Grading Service has just finished grading, encapsulating, and pedigreeing the Lincoln Cent Collection from the estate of the renowned dealer Jack Lee. The complete set will be offered in our Houston Signature Auction, taking place at the Houston Money Show of the Southwest, Dec. 4-6, 2008.
In PCGS's widest category of Lincoln Cents, the Basic Set, Circulation Strikes (1909-Present), the Jack Lee coins are now firmly in the leading position as the Finest All-Time Set. The Lee Set, which is 100% complete, has also been certified as 98.76% Red in color, leading to an astounding Weighted GPA of 68.685. The complete set of coins is now listed on the PCGS website.
Jack Lee was an admired numismatist, a worthy competitor, and a dear friend for more than three decades. His passing affected many of us at Heritage — quite literally, dozens of our numismatists had known Jack for decades. As professionals, we all could appreciate Jack's keen eye in his selection of these Lincoln cents. We expected that the Registry rating would certainly be in the top three, and were thrilled at the #1 ranking — further evidence of Jack's inability to resist buying the finest coins he encountered for his personal account. The Jack Lee pedigree, so important to Morgan dollar enthusiasts, will now be equally important to Lincoln aficionados. Heritage is thrilled to play a part in ensuring that his name will be remembered and appreciated by generations of numismatists
Coin Rarities Online
Stewart is selling? lol
I guess if you break the Lincolns up into enough specialty sets, sooner or later you can formulate one that he's not first in.
Wondercoin
Steve
My Complete PROOF Lincoln Cent with Major Varieties(1909-2015)Set Registry
Dan
The Thomas Irwin Collection
Stewart
I saw that Heritage add as well. I read the headline and thought "What the heck?" Not sure what they were thinking. The must have disqualified Stewart's set on some technicality.
Also, the ad listed an 09-SVDB in 67RD. I don't remember seeing one in the auction. They should have run that ad by someone in the firm that knows Lincolns, like Sadler.
Jack
Game on.
Jack
WS
<< <i>Heritage is Calling Jack Lee's set the #1 All time Finest Set of Lincoln Cents, not the #2 set.
Here is the text from the email Heritage just sent out:
Coin News... #1 All-Time Finest Lincoln Cent Set in Houston Auction
>>
Kind of a BS move IMO. They combined the memorial cents with the wheat cents to "create" the #1 combined set. It was never registered that way before Lee passed away. This is a reason a set should stay at a top rank for a minium amount of time (six months or one year perhaps) before it can qualify for the all time finest set list.
You could combine the #15 memorial set with Stuart's coins and create a #1 combined set that would beat the Lee set created by Heritage for the FUN auction.
THREE DAYS AND COUNTING
There seem to be some great buys as the reserves set by Heritage are way below the prices that he paid. It seems there will be several coins falling through the crack.
Pick and choose and you can't lose
And don't cry the Blues
Stewart
It may be a perfect storm for collectors out there. I don't think dealers are going to be building up inventory out of this sale, and there may not be many top guns passing out blank checks right now. Sounds like it will be interesting!
"Perfect Storm" would be fine by me.
Jack
Don't sense much interest in this sale of the "#1" Lincoln set of all time.
Dan
A few weeks ago another 65RD hammered at $14K over at Bowers, and the owner took it back. That may have been a better coin, at least it looked like it was. Point is, what's happening? That's an $18K - $25K coin!
Empty Nest Collection
Matt’s Mattes
Jonathan
Some interesting thoughts. Is there a "market correction" for Lincolns that is about to take place? Pre sale bidding seems a bit lack luster.
My guess is that things will be bid up. Some of the coins do not look that nice for the assigned grade. Those coins may be the "bargains".
As for the re-holder comments from HdHunter, I agree.
Jack
Maybe someone could offer some "CAC-like" pedigree stickers that would have the collection's name on it? Seems like that would be a good way to do it.
I'll be accepting royalties through PayPal
And I still think there's a chance that everyone's hoping these coins go out at bargain prices, and they're all just circling their prey like sharks in a tank. If this really does become a feeding frenzy, well, that will have to be beneficial to prices in the end.
Mid Auction Update:
O.K. I just watched the first lots go off, and while there were some apparant deals to be had, like the 1924-d at $10K, and a 19-d at $4500, I think what we're really seeing is an exapmle of how widely varied the prices can be within a particular grade. Nobody is going to pay a premium price for an overgraded coin, which some appear to clearly be. But when confronted with an opportunity to aquire one of the true best, the sky is still the limit. Don't look at this so much as a market correction. See it as shrewd collectors buying the coin, not the holder.
Empty Nest Collection
Matt’s Mattes
I had to get my son to hockey practice. By the time I got back and got logged in to the Heritage website, they were on 1936!! I was really disappointed. I didn't get to monitor any of the action. Did most go to internet or floor? Looks like there were not any significantly contested lots. I have looked at a few of the lots I was following and prices look O'K for the nicer coins, but otherwise pretty soft overall.
Jack
The steels were a big surprise to me, but I may be out of touch since it has been four or more years since I bought an MS68 steel cent. Almost all of the middle dates went for healthy prices, and I'm not talking about middle date Red MS68's, which are an animal all of their own.
1943 MS68 - $5,175
1943-d MS68 - $2,760
1943-d/d MS68 - $14,950
1943-s MS68 - $7,475
Overall, this sale didn't have nearly the shock value that previous big Lincoln set auctions have had. His estate probably got back 75% of what he paid for them (just a WAG here)
Michael Kittle Rare Coins --- 1908-S Indian Head Cent Grading Set --- No. 1 1909 Mint Set --- Kittlecoins on Facebook --- Long Beach Table 448