1998 & 1999 CLOSE "AM" PROOF LINCOLN CENTS IN THE SET REGISTRY

Steve

PCGS has added two new varieties as MAJOR varieties to the Lincoln cent proof Set Registries. These two varieties had been included with the Complete sets this past year but now the "powers that be" have determined these two varieties to be MAJOR Varieties for the proof Lincoln cent collectors. The assumption I have is that this action will cause the prices for 1998 & 1999 "close AM" proof cents to rise significantly. I may be wrong, but I do note that an example of the 1999 "close AM" coin in the Palm Beach Heritage auction which is graded as PR69DC has just been given a reserve of $920. This is a coin that PCGS lists in its price guide as $850 retail. Whether this coin is sold or not will probably have a significant impact on the market for the two new varieties.

The Lincoln cent proof registry with major varieties is an important collection for me personally. My proof cent collection had been 100% complete but now I, and I assume others, will need these two coins. This close AM was normally displayed on the 1993 proof cent and appears on almost all business strike examples right thru 2008. I find it hard to justify such a common design (ie) wide AM on proof memorials and close AM on business strike and satin finish memorials, to be worthy of a MAJOR variety designation. But then we do have the 1979 and 1981 type 2's as MAJOR varieties, but there were plenty of those to go around. In fact, the 1998 close AM is the scarcer coin with only a total of 39 graded by PCGS and 10 by NGC. For the 1999 close AM, PCGS has graded 302 with 62 in PR69DCAM and NGC has graded 149 with 77 PF69DU.

RBinTex

Steve,

1. There's so many '99's that the prices will only be marginally affected - if at all - but it will probably have a more noticeable impact on the '98's. In fact even this (i.e. potential price rise of either due to the new inclusion) might be tempered to a large degree by more now being slabbed/crossed over to meet any additional demand - thus essentially self defeating as to price rises.

2. I think they should only be in the complete varieties sets.

3. Although there really hasn't been an official clear statement of acceptable use (or lack thereof - of the pop data here) I believe the rule is now that you can't post pops on the message boards. I'm sure Mr. Willis will appreciate it if you edit your post.

(or was that only frowned upon when someone actually asked for the data )

wondercoin

I would think the pop information discussed in this context is fine.

These varieties can be seen with the "naked eye" (at least ages 50 and under) so I am not surprised with PCGS' actions. I can only assume the Mint State counterparts wouldn't be far behind either?

Wondercoin

Steve

To be honest, I didn't plan to post the OP as written, but somehow I must have hit the button. Anyway, I'll leave it up. Roger, I appreciate your input regarding the 1999 version. The 1998 IS a tough coin and will demand big dollars, but the 1999, even in PR69DCAM should not have an effective $900+ reserve in the latest auction IMHO. We will see if someone will pay the price to get it into their set registry. Mitch, I also agree with you that the design is visable to the naked eye, but my 1993 proof has the same design as does my 2008 satin finish. Nothing very unique about it IMHO. Steve

ProofCents

Wow thats a bummer I just sold my Extra 1998 "Close AM". The 1998 is listed in the PCGS price guide for $5500 but has not been selling for anything close to that at auction. I bought my second 1998 close AM from Heritage for $850 including juice earlier this year and flipped it for $1,500. I bet with a population of only 29 in top grade we see the price move up to about $2,500 or so this is less than half the population of the 1999 close AM.

Steve

<< <i>Wow thats a bummer I just sold my Extra 1998 "Close AM". The 1998 is listed in the PCGS price guide for $5500 >>



Where in the PCGS price guide did you see a price for the 1998 "Close AM" proof cent IN ANY GRADE? Steve

ProofCents

If you add the coin to your inventory on the set registry in PR69DCAM it shows up with a value of $5500

Steve

Proof cents, you are correct. It shows prices for PR67,PR68 &PR69's. I assume they will soon be added to the Price Guide. Thanks. Steve

RegistryNut

>>> I can only assume the Mint State counterparts wouldn't be far behind either?

Wondercoin<<<


Looks like the MS 1992-D close AM has already been added as a major variety. I don't really mind having to find this coin or even the proofs. But, it kinda irks me that PCGS eliminated my 1941 DDO as a major variety. Since I haven't started the complete variety set yet, this cool coin is now officially an "unassigned coin".

RegistryNut

Steve

Somebody bid the 1999 close "AM" Lincoln cent in PR69DCAM up to $920 with the juice. It auctions Thursday and I wish the winner lots of luck. To me it is just a small indication how PCGS can effect prices by the action they take regarding what coins go into or don't go into particular groupings in the Set Registry. Steve