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Why has the price for a 1990 No S Proof cent remained flat for so long?
renomedphys
Posts: 3,508 ✭✭✭✭✭
I have always wanted to buy one of these, but from an investment point of view, they look like old fish. With an estimated 200 in existence, have all the wants for this coin been filled?
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WS
Empty Nest Collection
Matt’s Mattes
<< <i>Personally, I'd like to have one in 68 DCAM for around $7K, or perhaps a 69 DCAM if the price is right. That's still a lot of money to pay for a nifty keen anomaly. >>
Matt,
Seems like if you REALLY want a 1990 no S in PR68DCAM you can get one today in a PCGS holder for around $7K or even a little less. The current demand is not that great, but the total population is probably around 200. I personally think it is a great bargin, but if your intent is to flip it, I would not recommend you buy it. It IS a cool error coin with no problem seeing the error with your naked eye.
Steve
My Complete PROOF Lincoln Cent with Major Varieties(1909-2015)Set Registry
Empty Nest Collection
Matt’s Mattes
<< <i>bsb has a pcgs pr67dcam up on the bst for $6.5k >>
He's "hoping." Maybe someone will be tired of waiting for one priced correctly, or someone will be so hot for one, they will pay anything.
I think the 90 no S is a good micro snapshot of what happens in a lot of series.
If you think PCGS is going to take a risk and put a big fat 70DC on one, you may be waiting a loooong time. They might do a 70red just for sport, but there would too much risk considering what a 70 would sell for, and the potential for the coin to turn or spot. (Picture Dana Carvey here doing George Bush saying "not gunna do it")
Here, we have modern day proofs that are essential perfect when released from the mint and put in plastic mint sets. It's going to be rare to find one coming straight from the mint that is less than a 67DC. That really sets the bottom of the market. Since there are no 70's, you are talking about a coin that exists in only three grades (except the flyers, or improperly stored coins) PR67DC, PR68DC, and PR69DC.
PR69DC really sets the pace. It hasn't been that long ago that you could pick one up for a little less than $10k, in a PCGS holder. The pop hung for a long time at 18 and prices began to soar. On average, you can get one now when you find it for $17k-$18k and that is considered "reasonable" in the market. You have to decide if that is reasonable to you, of course. We have had two more made recently bringing the total up to 20. I believe the market can absorb those two at current prices, but just how many more? PCGS is doing a good job of holding the market in its current state.
PR68DC is the waiting grounds for the jump. If you want a better than average coin, this is the placehold of the masses - 61 - to be exact. 69's are made from here if they are going to be made. It's worth $7k to get a certified "above average" example.
PR67DC is the average coin you are going to get out of a proof set that has made it to this point in life without being in a holder. Those typically trade around $4,500 - $5,000. Since there is little risk you are going to get a grade less than that (unless it has green goo on it), you can buy an uncertified set for $4,000-$4,500. I consider PR67DC's the equivalent of a raw pack 90 no s, with no big distractions. I would crack a 67DC out of it's holder almost any day of the week. (Actually I have cracked a few 68DC's with no reservation, and bought two raw that graded 68.
Below, that there have only been 7 coins holdered lower (or without the DC designation) out of 101 graded. Your chances are slim that your coin is going to get graded this low and if you should have heard it barking at you while you bought it.
How many of you can CLEARLY delineate how PCGS grades these between 67, 68, and 69? I can't say that I have the ability to do so. I know what I think about a coin when I see it, but that doesn't seem to mirror what graders think all of the time. (Maybe I need glasses??)
The only upside you are going to have in this small segment is to hunt down all of the 68's and find the best one to submit ... and submit it about 10 times until it hits. You might make one. I might make a 69DC. Then again, it's not worth it to me. I have a 68DC that is as nice as most of the 69's I have seen. Dan Close did have a very nice one in 68, and it went for solid 69 money. I suspect that coin is in a 69 holder today. Maybe one day I will get an upgrade from the grading gods.
Folks, it couldn't be more clear that this is the top of the market, and the 1990 no S coins have been massaged the best they are going to be. Take a point off each NGC coin and slide them into the same analysis above. They are the same coins, just viewed under a different grading philosophy. One tactic is to get a PCGS 67 coin into an NGC 68 holder and try to sell it for 20 percent more. Believe me, it's the same coin, and that little 8 typed by NGC is not worth $1,000.
Text1990 No S PR 68 DCAM
his choice in the sms says way more then most know
many chose a high grade over pricey cam's (their price to pop is laughable-sleeping more so)
the no s 1990 to me is a registry coin as outside of it completing a set it's pop/price leaves much to be desired.
A GREAT explanation of the PCGS grading and pricing for the 1990 no S Lincoln cent. I made mine from a proof set and was fortunate enough to get the 68DCAM designation. The proof set cost me $1,275 in 1994.
Steve
My Complete PROOF Lincoln Cent with Major Varieties(1909-2015)Set Registry
WS