1909VDB MPL PCGS PR64RB UP FOR AUCTION AT LB

Steve · May 19, 2014 5:22AM

Heritage will be auctioning a 1909VDB matte proof Lincoln cent at the Long Beach show on Thursday, June 5th. Whenever this coin becomes available it brings excitement for Lincoln cent collectors because of its rarity and its continually being on the "wish list" for Lincoln collectors, especially those who collect the proof version of the series. Only about 200 of this coin have been graded by the third party grading services since 1986 (28 years) and in my opinion, less than 150 are in existence today. It's always fun, for me at least, to track the bidding on this coin and see what it eventually sells for. You can see the Heritage write-up here.

Steve

BWRC · May 19, 2014 10:03AM

I will preview the coin at Long Beach and on my return, will give some feedback on what I thought of the coin's quality and the price it brings.

ChrisRx · May 19, 2014 1:25PM

Still preeeety pricey.

Steve · May 26, 2014 2:34AM

Well, after a week of dilly dallying around with bids of $3k to $4k, someone finally decided to enter a legitimate bid on this coin at $14k. So the price is now $16,450 with the "juice". The owner will post his reserve at 7PM CDT on Wednesday and we will then see how potential buyers react. I sense a lack of major interest in this coin, but I may be mistaken. With Jonathan's PR67+RB coming up at the ANA in August, how this example of the 1909VDB MPL trades may have some impact on the ANA coin. We shall see! Steve

dbemike · May 26, 2014 3:15AM

I believe the PR67+RB coming to auction will affect the final price of the PR64RB. Those having the means to compete for the 67+RB won't have to settle for the 64RB to fill that hole. Just my opinion, but really depends on the reserve.

Good Luck to all bidding on both.

FunwithMPL · May 27, 2014 4:26AM

Isn't $16,500 a good price for a 1909 VDB MPL 64 RB?

As to the 1909 VDB MPL RB67+ we will see of it sells.

robec · May 27, 2014 4:28AM

<< <i>Isn't $16,500 a good price for a 1909 VDB MPL 64 RB?

As to the 1909 VDB MPL RB67+ we will see of it sells. >>

That's a great price for a 64RB.

dbemike · May 27, 2014 5:38AM

I think $16,500 is a great price also, but I'm guessing reserve is much higher. Will find out tomorrow the 28th.

Last 2 auctions at Heritage
Auction 1202, Lot 5027 Wednesday, February 5, 2014 64 PCGS $28,200.00
Auction 1172, Lot 3240 Sunday, July 15, 2012 64 PCGS $25,300.00

I haven't followed MPLs in quite a few years, but 2 VDBs up at auction at one time sparked my interest.

robec · May 27, 2014 11:43AM

A PR64BN sold for $27,600 at Legend Morphy in Feb. 2013.

ChrisRx · May 27, 2014 12:18PM

My guess... $23,500

Steve · May 28, 2014 7:40PM

I am SURPRISED that the owner did not post a higher reserve. Since it is in a PGGS PR64RB holder, in my opinion, it is a STEAL at the current price of $16,450. If you have the funds and you've always wanted to own one, now is the time to "go for it". The PCGS price guide shows this coin at $32,500. In my opinion, even if people say this coin is a "dog", it will always have value because of its rarity. Some dealer will take it if the price stays at this level. Steve

dbemike · May 29, 2014 8:19AM

I was surprised at no reserve also. It will interesting to see how much higher it goes and if the 67+RB affected the bidding war.

DaveW · May 30, 2014 2:24AM

I like the coin

DMWJR · May 30, 2014 3:05AM

I haven't seen the 64RB in person so I can't speak to it, but I will say that I don't think these coins will impact each other in the sale. They might as well be treated as two totally separate markets.

The owner should already know if there are potential buyers for the 67+ coin, and that there is more than one. That's why you would put this coin in an auction instead of trying a direct sale or having a dealer broker it for you. MPL collectors in RB at this level would be a market that is extremely thin. However, this is one of those coins that is a trophy coin and will attract a different set of bidders in addition, who would have absolutely no interest in the 64RB.

I have know idea who may be interested in the 67+ coin, but I hope the seller did when he put it in the auction. It's a great coin and one anyone would be proud to own.

Steve · May 30, 2014 4:48AM

The 8th bidder in this sale upped the price to $17,625 with the auction set for next Thursday, June 5th.

Doug, I respect and agree with everything you say regarding the PR67RB versus this PR64RB coin. Two different markets. Two different groups of collectors. As you know, there are now ONLY 4 coins graded at the PR67 level for the 1909 VDB MPL cent. Since we all know the two reported NGC PF68's are now in reality, Jonathan's PR67+RB,(the Jenks coin was twice graded by NGC and then Jonathan Watkins bought the coin and had it graded by PCGS). So the top graded 1909 VDB MPL's in existence are: (1) Stewart Blay's PR67RD, (2)the Thomas Irwin collection PR67RD, (3)the McCullagh collection PR67+RB and (4)the Angels Assemblage collection PR67RB. All four of these coins are spectacular and it should be very exciting when Jonathan's coin goes to auction at the ANA in August.

Now, let's see if this coin gets over the $20k mark in the next few days.

Steve

Steve · May 30, 2014 8:37PM

With a ninth bidder, we've seen a two increment jump overnight to $17k with the price now at $19,975 "with the juice". Steve

DMWJR · May 31, 2014 12:32PM

There is a PR66RB on the horizon in the Gardner sale ...

http://coins.ha.com/c/item.zx?saleNo=1213&lotNo=30097

BWRC · June 1, 2014 3:45AM

1909 VDB PCGS PR66RB in the "Gardner Sale"

I will be able to preview that one at the Long Beach show next week.

That will be a good one to watch for market strength, with the McCullagh PR67+RB coming to auction about 6 weeks later.

Steve · June 3, 2014 6:14AM

Internet bidding ends tomorrow at 10:00PM CDT. The live auction is on Thursday evening. We are still at $19,975 with the commission. It will be interesting to see if we get any floor bidding on Thursday. Unless there is a major problem with the coin which is not evident from the pictures, it seems to me that the current price is a REAL bargain for a PCGS PR64RB 1909VDB MPL. As mentioned, there are two more 1909VDB MPL's coming to auction this summer, but for anyone wanting an example and not having "moon money" to spend, this coin is about the best (price wise) you could expect. Good luck. Steve

Steve · June 3, 2014 11:47PM

A tenth bidder upped the bid to $19k overnight, so the coin is now priced at $22,325 for the last day of internet bidding. Steve

No changes on the last night of internet bidding.
Floor bidding on lot #4319 will be sometime around 6:15PM and 6:30PM PDT tonight. They start with lot 4248 at 6PM. (9PM EDT) You can watch it on Heritage LIVE.

Steve

Steve · June 5, 2014 10:43AM

The coin was bid up to $21K at the auction just a few minutes ago. So the 1909VDB MPL graded by PCGS at PR64RB sold for $24,675 which is probably a fair price. There was a little interaction between the winning bidder and the auctioneer regarding the previous bidder's top bid of $20,050 and the increments, but everything seemed OK. Good luck to the winner. Steve

illini420 · September 1, 2014 7:12AM

The same PR64RB that sold at Long Beach in June just sold today at Goldberg for $18,500 ($21,737.50 w/ the buyer's premium). Seems like whoever bought in June didn't like it and paid several thousand dollars to own it for a couple of months.

Steve · September 1, 2014 11:08PM

Mike,
Thanks for that information. I have no symphony for those people who buy rare coins for the sole purposes of flipping them to make a quick profit. I don't consider a true dealer in that comment because that is their job. If the seller of the coin is a dealer, fine. If he is a collector, he blew some money because he just doesn't understand what the 1909VDB MPL is all about. Steve

DMWJR · September 2, 2014 4:40AM

Not my coin at issue, but I have bought a few coins in the past thinking it was the best grade that was going to be on the market for a while, and out of nowhere one in the grade I really wanted becomes available. Of course I sold the lower graded one within a few months and didn't fair too well. You never know what motivates someone.

lusterlover · September 2, 2014 8:02AM

Maybe this is a naive comment, but could the venue plus the holiday have anything to do with the weak price?!.....

illini420 · September 2, 2014 12:20PM

<< <i>Maybe this is a naive comment, but could the venue plus the holiday have anything to do with the weak price?!..... >>

Possibly, but I don't think so in this case. I attended the live auction and there were a few bidders on this coin including myself. The coin opened at $12,500 I believe and a few live bidders and I think one phone bidder were participating. The Goldberg sales don't seem to be as well attended as the Heritage auctions, but many other coins that were more fresh sold for high prices at the same sale so I don't the venue/holiday is as much to blame for the lower price as the coin itself. Basically, in my opinion this coin just isn't the best PR64RB ever graded by PCGS and I know that, combined with the fact that this coin has been bouncing around a bit lately, is why I didn't bid any higher on this one.

lusterlover · September 3, 2014 9:21AM

<< <i>

<< <i>Maybe this is a naive comment, but could the venue plus the holiday have anything to do with the weak price?!..... >>

Possibly, but I don't think so in this case. I attended the live auction and there were a few bidders on this coin including myself. The coin opened at $12,500 I believe and a few live bidders and I think one phone bidder were participating. The Goldberg sales don't seem to be as well attended as the Heritage auctions, but many other coins that were more fresh sold for high prices at the same sale so I don't the venue/holiday is as much to blame for the lower price as the coin itself. Basically, in my opinion this coin just isn't the best PR64RB ever graded by PCGS and I know that, combined with the fact that this coin has been bouncing around a bit lately, is why I didn't bid any higher on this one. >>

Thanks for the feedback. Given that most of the other Lincolns did poorly (high % didn't sell, '09SVDB 65RD $3,400, etc.) I still say the venue and timing had to play some part. Maybe they were all dogs or retreads....

1909VDB MPL PCGS PR64RB UP FOR AUCTION AT LB

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