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Mike Bernosky cracks me up.
Robb
Posts: 2,034 ✭
From his letter in Coin World:
"Why pay so much for cents?
Am I reading this right? Derek Utley wrote in the March 30th issue of Coin World that someone paid $1,338.13 for 50 rolls of the new Lincoln cents. That's more than 53 cents for each cent.
The buyer cannot possibly be a coin collector. How does this person ever expect to get his or her money back, unless he/she sends them all to be graded and they come back MS-68 or better? Then you have the grading fees.
I also see in the March 30th issue that the Mint established a price of $8.95 plus $4.95 shipping and handling for two rolls (one roll from the Denver Mint and one roll from the Philadelphia Mint). that's 13.9 cents per cent. I can't even get that for a Mint State common date Wheat cents, and they are more than 50 years old.
This collector, for one, is going back to old coins!"
No, Mr. Bernosky, I'd suggest that these people are indeed collectors and not investors or wannabe dealers.
"Why pay so much for cents?
Am I reading this right? Derek Utley wrote in the March 30th issue of Coin World that someone paid $1,338.13 for 50 rolls of the new Lincoln cents. That's more than 53 cents for each cent.
The buyer cannot possibly be a coin collector. How does this person ever expect to get his or her money back, unless he/she sends them all to be graded and they come back MS-68 or better? Then you have the grading fees.
I also see in the March 30th issue that the Mint established a price of $8.95 plus $4.95 shipping and handling for two rolls (one roll from the Denver Mint and one roll from the Philadelphia Mint). that's 13.9 cents per cent. I can't even get that for a Mint State common date Wheat cents, and they are more than 50 years old.
This collector, for one, is going back to old coins!"
No, Mr. Bernosky, I'd suggest that these people are indeed collectors and not investors or wannabe dealers.
RIP 0
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<< <i>No, Mr. Bernosky, I'd suggest that these people are indeed speculators and not investors or wannabe dealers. >>
fixed that for ya
Lincoln set Colorless Set
...........it's very appealing to the 'flippers' on the bay.