Speaking of Overpriced Lincolns: I'll Buy These!

wondercoin

There is another thread going right now pointing out the absurdity of a 1954(p) Lincoln in PCGS-MS67RD (pop 1) selling for $3600. Well, here are my buy prices good for 45 days from today on EVERY "P" mint Lincoln dated 1945-1958. Consider that a coin like the 1945(p) Lincoln in PCGS-MS67RD already has around 2 dozen graded, so making an MS68RD shouldn't be too difficult-right? Just upgrade one of those MS67RD coins and pocket $4,000!!

Anyway, here are my personal buy prices on the very first PCGS-MS68RD coins made of each of the following dated Lincolns. I must be offered a pop 1 PCGS coin with no others in that grade being made by the same submitter and it can not be a "mechanical error" coin such as a proof accidently placed in a Mint State holder.

If someone took a week off from work and made all the coins I am offering to pay in this thread from their hoards of rolls and bags sitting around the many back offices out there, they would make roughly $65,000 on 14 cents worth of coins, plus grading fees for their weeks work. I confess, I will be shocked if anyone can even fill a single coin from my want list, let alone all 14 because I know the true rarity of these coins! But, I'll take all 14 if someone can make them all!! And, with all due respect, when 45 days goes by and NO ONE on the planet fills a single coin on my want list, while it won't change anything with the unknowledgeable folks out there that insist these coins are "easy" to make, I'll still be actively searching them out (as Dennis continues his search for pop 1 and 2 Clad Ikes in PCGS-MS67 at $6,000/coin last I checked!! Wondercoin.

WANTED PCGS-MS68RD POP -1- ONLY LINCOLN CENTS:

1945(p): $4,000
1946(p): $5,000
1947(p): $5,000
1948(p): $5,000
1949(p): $5,000
1950(p): $4,000
1951(p): $5,000
1952(p): $4,000
1953(p): $5,000
1954(p): $6,000
1955(p): $4,000
1956(p): $4,000
1957(p): $5,000
1958(p): $4.000

mrpaseo

um...er....ya, if you are upgrading, give me a crack at your MS67RD's please....lol.

Good luck in your quest.

Ray
Fellow Lincoln collector....

lazeroo

fairly easy bet mitch. as you already know, I have been looking for these coins for some time .

they can't be made. if they could they would be out there for sale.I'm still on the hunt for a 53-p in 67rd .
this coin is also just about impossible to find. and just for your information, any one of these coins would bring at least 2 times what your offering in 68-rd.

it took me awhile to find out that these years were really bad for the us mint. 90% of the rolls I've opened have heavily stained coins. even after a good dip then you can see the hits that keep them from a higher grade.

my guess is it's going to be a long time (if ever) that we see a 68rd in any of these years.

wondercoin

Rob: Easy now pal, 2x my buy prices and you going to have me writing my article in Coinage Wondercoin.

braddick

This reminds me of the story of the old time Dealer who was offering $50. for each 1913 V-nickel the public sent him. Of course he already owned all five of the known coins at the time.

Flash

B. Max Mehl was a genious!

merz2

Mitch
As a Lincoln Collector of many years.I've looked at a lot of Lincolns.I can honestly say those coins in MS68 are next to impossible to find.You could look for a lifetime and not find one.If you were lucky enough to find one,it would be a pop 1 or low pop coin for a very long time! You could place a price tag of at least double what you are offering.

coingame2000

Mitch,

If a PCGS MS67RD 1954 Lincoln cent is worth it's current selling price of $3,600 you appear to be a real CHEAP buyer of the PCGS MS68RD's you are making offers on, particularly in light of the fact that these will be pop 1 coins with the magical, mystica PCGS MS68RD moniker...ONE FULL GRADE POINT HIGHER than that which was discussed on the tread you are responding to. Well????????????????

Best Regards,

Mike De Falco

wondercoin

Mike: First, even though I had -0- role in the purchase or sale of the pop -1 1954(p) Lincoln in PCGS-MS67RD, my excellent sources on the subject (including one of the parties involved in the sale) tell me the coin never sold for $3600 or $3700 in the firstplace. So, you are using as a springboard for your comment about the MS68RD coin a price for the MS67RD which is likely inaccurate (by a fairly significant margin) to begin with.

Second, the theme of the article was obviously that it would be insane to pay anywhere near that price for an MS67RD piece of that date worth 50 cents in 63RD, so me roughly doubling that absurd price for a 68RD would, in most cases, be regarded as insane as well (geez, there was a comment here already that an MS70 of the date wouldn't be worth $3700!)

Third, you are obviously free to post even higher buy prices for these Lincolns. Many folks believe these coins are just sitting in rolls and bags waiting to be graded in these high grade holders. I personally don't. Is my $4,000 or $5000 buy price way too cheap for a 1957 or 1958 Lincoln in 68RD? If you think so, more power to you! Then bid $6,000 or $7,000. Come join in the fun of the late date wheat back Lincoln market! Wondercoin.

dbldie55

B Max Mehl never owned a 1913 Liberty Nickel. He did auction the Olsen specimen (more than once). He knew that only 5 existed and were all accounted for when he placed his ads, but was not the owner.

braddick

DD55- I didn't know that. I was always under the impression he at one time owned all five.
-Hey, who was the Dealer who used to carry one loose, in a flip, in his pocket and would casually take it out at times to show friends?

dbldie55

McDermott took his everywhere, and used to loan it out, show it in the bar (where I guess he spent considerable time) etc. The coin was bought by Aubrey Bebee at the 1967 ANA sale, and is now in the ANA museum.

braddick

DD55- You've got the answers! Ok, here's one more, related question: Where is the FIFTH specimen?! (Somewhere along the side of the road after the accident?)

dbldie55

If I knew that, I would not be here. It is not known for fact if George Walton had the coin with him when he was killed, but it has never been seen since. That is the ending mystery to the coins.

coingame2000

Mitch,

So where did the $3,600 selling price for the PCGS MS67RD 1954-P Lincoln Cent (that you mentioned in this tread) come from? Quite frankly I often question (to myself) the veracity of alleged prices realized for some of the coins sold on Ebay or other similar online auction venues...believe me, it wouldn't be the first time that a reported high price realized was the result of clever collusion. In any event, IF the aforementioned coin did indeed fetch $3,600 it would seem logical to assume that your buy offers were too CHEAP! Anyway, you don't have to worry about competeing with you (actively seeking to purchase) in this segment of the marketplace. It isn't my cup of tea and the valuations between the Red and Brown color designations pose too great a risk should the color change in the holder (which I have seen it do on countless occasions). I may be wrong, but I don't think PCGS even guarantees the color for copper coins any longer. I'm out so have fun with 'em.

Best Regards,

Mike De Falco

wondercoin

I just got around to reading the April 2002 issue of "CoinAge" today. On page 6 I came upon a very interesting article in the "My Two Cents' Worth" column by Ed Reiter, I encourage everyone to read this. He claims that coin collectors today put too much stock into the condition of a coin, and not that coin's absolute rarity. Consider one example he gives, a 1954-P Lincoln cent is worth about fifty-cents in MS63RD, but that same coin in a PCGS MS67RD slab recently traded for $3600. (Personally, I don't care if it's an MS70RD, no 1954-P Lincoln on this planet is worth that much.)The article mentions that this quality mania is mostly due to the Set Registry programs put in place by PCGS and NGC. Ed then states "Clearly, however, modern coins--whatever their condition--are not worth the kinds of prices people are paying. No matter how rare the population and census reports may show them to be in the highest grade levels, millions more may exist, simply awaiting submission for certification."

Do you agree? I think it's long overdue for someone to speak out about all of this registry bs.

Kyle

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Mike: The "$3600" price came from the above post by Kyleknap referencing Coinage I believe. I copied Kyle's post for your convenience Wondercoin.

Mark

Though obviously OT from "Overpriced Lincolns," continuing with Braddick and DD's parallel (?) thread, I recall reading a few years back that some researchers were questioning if five 1913 nickels actually existed. Someone postulated that the 5th coin might actually have been some sort of other coin--I forget if they suggested a pattern or what. Personally, I thought the idea a bit odd, but does anyone else recall this suggestion? And, if so, does anyone have thoughts on it?

Mark