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Am I missing something?
Hayden
Posts: 112
Someone paid $700 for a 2010 penny?
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I'm sorry but this just goes to prove that registry members are not playing with a full deck as to pay up $670 more for 1 point is insane
Positive BST as a seller: Namvet69, Lordmarcovan, Bigjpst, Soldi, mustanggt, CoinHoader, moursund, SufinxHi, al410, JWP
<< <i>Well I just looked at PCGS Values and a MS65 is worth $5.00 and fell out of my seat when I saw a MS66 at $675.00
I'm sorry but this just goes to prove that registry members are not playing with a full deck as to pay up $670 more for 1 point is insane
Disclosure: I didn't purchase this coin!
Most members make the assumption that "modern" coins are all MS69... MS70, they are not.
Also, collectors have been paying Thousands of dollars for 1 point upgrades for decades... even long before the Registry Sets began.
P.T. Barnum was right!
Not really looking for much these days but if I were, it might be a toner.
<< <i>Makes me want to go to the bank to get a new roll of pennies, and than send them all in for grading!! >>
I feel once this gets out the pop will rise dramatically as prior to this auction I bet not a lot of folks even figured them worthy of submission fees.
Seriously what kind of braging right do you have without coming across like a lunatic after you just bought a 2010 penny for $700
By the way Stock Certificates are now being certified... Get in on the ground floor before they get hot!
Occasionally I'll see things like this on eBay & my reaction is the same as yours about missing something. I don't understand at all how this sort of thing happens.
"The only place success comes before work is in the dictionary."
~ Vince Lombardi
<< <i>Disclosure: I didn't purchase this coin!
Most members make the assumption that "modern" coins are all MS69... MS70, they are not.
Also, collectors have been paying Thousands of dollars for 1 point upgrades for decades... even long before the Registry Sets began. >>
llafoe, Guess your right as looking at the spread if this was a real $50,000.00 MS65 coin someone would most likely step up and pay $6,700,000.00 to own a MS66
<< <i>I feel once this gets out the pop will rise dramatically as prior to this auction I bet not a lot of folks even figured them worthy of submission fees. >>
I think PCGS is very tough on these. I went through 10 rolls and the quality was generally pretty low. Out of 10 rolls I chose 4 I thought may have a shot at 66. I then chose the best one out of those four to submit. It graded MS65. This was about a year or so ago and I don't remember how many 66s were graded but I don't think it was that much different than today.
However, even if I collected these I seriously doubt I'd pay anything close to $700.
Franklin-Lover's Forum
P.S. Hayden thanks for todays forum funny!
I recall when an MS67 2007 George Washington Presidential Dollar sold on eBay for around $1600. Folks were simply amazed that someone would actually pay that amount. That is, until the few that existed started trading at around 5 grand. These coins still trade in the 3 - 9 grand range simply because getting an MS67 Washington is next to impossible.
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The name is LEE!
Perfect Penny
It was an MS70. Someone on this board bought it and then a few years later submitted it under the warranty when it developed problems. Went for $13,500. I remember watching this auction and we talked about bidding.
700 might be cheaper than making your own.
(I didn't buy this coin)
My Early Large Cents
Edit to add a random musing: I wonder what that fella's wife would have to say about it.
(C'mon, we all know the buyer is a man. And we all know what would happen if most of OUR wives got wind of us spending $700 on a penny barely a year old.)
Collector since 1976. On the CU forums here since 2001.
<< <i>Couldn't you just break open a mint set? >>
Not really since 2010 still had the "Satin Finish". Even those were a bit sketchy with a bulk of them in 67RD and only a spattering of 68RD's with a solitary 69RD. With a total of only 639 Satin Finish coins submitted, I'm guessing that the SF Junk outweight the SF Jewels.
Compare that with the 1,754 regular finish 2010 cents graded and the picture gets a little clearer on how tough a simple MS66RD can be.
The name is LEE!
<< <i>Only thing you can fault the seller on is not getting it CAC'd!
P.S. Hayden thanks for todays forum funny!
CAC doesn't Bean anything post 1964. I seached close over 15 Bank boxes of these in 2010 and made, IIRC, only 1 or 2 of the graded 66's. Extremely tough coin to find/make. There were numerous threads about PCGS' grading of these Business strike cents in 2010. Laugh now but I challenge everyone laughing to buy a Bank box of these and submit the best you find. You'll be lucky to get one or two 65's. These coins came spotted, damaged and with obverse slide marks right from the Mint 99.9992% of the time.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
This is a minature version of the $70K "finest known" MS 66 Full Bell 53 S Franklin story of a few years ago. I was laughing when the buyer got the coin. Moderns are made by the millions, and who knows how many others in this grade are out there?
Sure enough, eighteen months later, said "finest known" Franklin was one of the TWO "finest known" Franklins. The proud buyer of this coin who paid $70K for it sold it for around $35K shorly thereafter. I don't know which was more funny. This story, or the other one at this time about Dwight Manley and Kagin re the "gold bar incident."
"Seu cabra da peste,
"Sou Mangueira......."
<< <i>C'mon, we all know the buyer is a man. And we all know what would happen if most of OUR wives got wind of us spending $700 on a penny barely a year old. >>
POTD!
<< <i>
<< <i>C'mon, we all know the buyer is a man. And we all know what would happen if most of OUR wives got wind of us spending $700 on a penny barely a year old. >>
POTD!
Lorena Bobbitt?
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
Perry Hall's statement is quite apropos. These have nowhere to go but down as more people see this sale price and start submitting theirs thinking they'll get the same amount. Then the law of diminishing returns kicks in...hard.
PS...note the milky spots and what look to be scuffs.
RIP Mom- 1932-2012