Coin of the Day: 1954(p) Lincoln: PCGS-MS66RD!

wondercoin

Coin of the Day 6/11/02: 1954(p) Lincoln Cent Grading PCGS-MS66RD

Arguably, the toughest Lincoln wheat cent to obtain in MS66RD or better grade going back to the early 1930's! The "king" of the 1934-1958 "short set" of Lincolns in high grade!

This coin has a great strike and is very mark-free. It has mellowed red appeal. The coin was just graded at PCGS ($65 walk through service) during PCGS' BRUTAL period of grading copper coins. The coin went in for grading along with a 1960(d) Lincoln I was looking for MS67RD on and a top dealer in copper called "lock MS66RD+" and that coin came back MS64RD. So, I am confident this is a solid MS66RD coin!!

Last sale I just pulled up on this date on ebay was $360 at the Superior Sale on June 3, 2002 (and I believe a 15% buyers fee would be added to that?). If that is the case, the coin would have then sold for $414 (plus shipping). I can't speak for that coin as I did not see it. But, this coin I believe would be a nice addition to any advanced Lincoln Wheat Back Registry set.

I have just this one coin available priced at $375 with free shipping anywhere in the US. PM me if you are interested. First come, first served. Wondercoin.

clackamas

>Arguably, the toughest Lincoln wheat cent to obtain in MS66RD or better grade going back to the early 1930's! The "king" of the >1934-1958 "short set" of Lincolns in high grade!

I would not say arguably it is THE toughest right ahead of the 35-S in the short set. I am on my 12th BU roll and still do not have one. I do have one in for a regrade that should be 66 right now.

LincolnCentMan

I was the second highest bidder on that coin in the superior sell (at $330 + 15%). The coin in that sell was very high end. Bidders on that coin were bidding on the coin, not the holder.

David

wondercoin

David: I'm puzzled - if you were the underbidder at $330, how did it jump to $360?

The owner of the pop 1/0 MS67RD 1954(p) wouldn't likely sell the coin for $10,000 (just a guess by me). If an average MS66RD is worth around $300 minimum, why wouldn't a premium quality MS66RD (as I am reading the Superior coin may have been) be worth multiples of that Superior sale price then? To add just $100 on to the MS66RD price for a "PQ" coin, when the MS67RD might trade at 25x-30x the MS66RD price sounds "penny wise and pound follish to me". Sounds like the winner of that Superior coin got a terrific buy!!

I would be happy to consider reasonable offers for my 1954(p) Lincoln just in case the coin does not sell today for $375 delivered. But, I may decide to auction the coin on ebay after everyone gets a chance to buy it here. Wondercoin.

wondercoin

Clackamas: I wasn't reffering to the 35(s) in my comment about the 54(p). I was referring to the 31(d) in MS66RD. That is the coin that is tougher than the 54(p) imho. Wondercoin.

clackamas

You were talking short set, 34-58 so a 31-D would not be considered. I own a 31-D in 65RD and a 54 in 65RD and for me the 54 was still harder to get.

sonofagunk

Some people consider the short set to go back to 1932. Anyone know what PCGS is planning to start their short set?

gmarguli

To call this the "PCGS' BRUTAL period of grading copper coins" is an extreme understatement. They have become insanely tight MS on copper. They seem to be about the same on the proofs and SMS, but on business strikes they are just brutal.

braddick

Rare exception: PCGS DID cross over two ACG monster toned Wheatbacks I last submitted. (Of course they were former ACG MS68 and are now PCGS MS65. But it is the toning I wanted authenticated.)

wondercoin

Greg: The batch of Lincolns this 54(p) Lincoln was submitted with not only included that 60(d) Lincoln which graded MS64RD (at $65 grading fee), but a 1965 Lincoln handpicked as the nicest coin from an original bag!! 5,000 coins carefully gone over and the very best coin submitted at $65 fee so that PCGS would carefully eaxmine it. The coin came back in a bodybag as questionable color. Do you know the manhours that went into searching 5,000 coins for that coin!! If I submit it again (even at $15 service), I will also be out $80!! Any wonder these coins trade at $50+ in an ALREADY DONE PCGS-MSS66RD holder Wondercoin.

TomB

You guys are making my day brighter by the minute. I have five superbly toned Lincolns to hand to PCGS for grading, two proofs ('38 and '39) and three business strikes ('45, '54-D and '57-D). They all appear to be completely original. I'll let you know how they grade out.

clackamas

>but a 1965 Lincoln handpicked as the nicest coin from an original bag!! 5,000 coins carefully gone over and the very best coin >submitted at $65 fee so that PCGS would carefully eaxmine it. The coin came back in a bodybag as questionable color.

Yeh because the 65's are such a heavly cleaned year. I don't know how many "pink" ones I come across. <joke> That a fairly recent year so to speak and a really bright coin is not unreasonable. I had a wholly original 26-S which should have gone 63RD come back as "questionable color" recently, my heart sank.

gmarguli

Do you know the manhours that went into searching 5,000 coins for that coin!

Unfortunately, yes I do. Can I interest you in a bag of 1969-S Lincolns sitting right next to my desk?

LincolnCentMan

Wondercoin,

You're right, of coarse. I felt that my bid would pull it in. I should have bid more than I did. Still, my bid was not exactly "wimpy." I know where a couple are that could be had at the moment. However, I've commited to buying a 45-P in 67RD which have limited my coin budget for this month.

I'll never be in the top 5, not even in the short set. So my numeric standing is rather inconsequential. There's no way I can complete with guys like Blay, Mershon, and Herndon. Granted, I do have 30+ 67RD's in my set, but they're all pop 50+ coins. My only chance to get any of the really low pop 67RD's is to submit them myself. And we both know PCGS isnt just handing out 67's on the tougher dates.

When I finish the shortset, I hope to have it in 67RD from 1934-1945 with the exception of the 34-D and 35-S. The balance of the set, I'd like to have in a minimum grade of 66. I have had some difficulty finding a nice 34-D and 35-S. I've passed up about 10-15 of each in PCGS 66RD. They typicaly come with such cruddy eye appeal, even if they techenicly merit a 66RD grade.

David

clackamas

>When I finish the shortset, I hope to have it in 67RD from 1934-1945 with the exception of the 34-D and 35-S
That would put you in the league of the top 10. There are some nearly impossible dates to get in 67. 1958, 1954, 1949, an a few others. I would like to see that set.
Good Luck.

LincolnCentMan

Clackamas,

I want them in 67RD from 34-45 (minus the 34-D and 35-S)... I dont want them all in 67. 66RD's are much more cost efficent in the later dates. Perhaps in ten years, if the pops go up, I could get some of the later dates in 67.

David

sonofagunk

well putting on my engineer's hat, I did some quick estimates.

It every coin you had was one that had LESS than 50 better than it, you would have a score of about 68.5 in the short set rating. Looking at the visable sets, that would put you in about 6th place. Maybe one or two of the hiddens would be better, but still I would take #8

David, currently your set is #20 of the visable in the short set (I would be #14).

of course my numbers are probably not correct, but just an estimate

RELLA

David,

Sounds like a great goal to have...you might think about "settling" for MS66RD on the 1936-S and 1945 also if you don't already have them; they are the ones that I was missing (along with the 1937-S and the ones you mention) when I sold my set last year. Dropping those two, and going for later dates like 1946-D and the S mints through 1955 (with the exception there being the 1950-S), might save you some time and effort.

RELLA

LincolnCentMan

Well, I have a 37-S in 67RD in the mail to me as we type. The 45-P has been VERY difficult to locate. I have commited to buying one, though. I'm paying, I think, a decent premium on the coin. Still it's a more than fair price.

The 36-S may take a good while to find. I know of a stronger buyer than me that needs one. You can bet he'll see all the ones I see. So I'm in effect, waiting for two of those to come on the market.

The 34-D and 35-S are EZ to find in 66RD. As I said, I've passed up MANY of them. The trick is finding nice ones for the grade.

So in effect, all that I am away from my goal in the short set is:
Getting a 34-D in 66RD
Getting a 35-S in 66RD
Upgrading a 36-S to 67RD
Upgrading a 54-P to 66RD

All but the 36-S are done easily enough. It may be a long wait on the 36-S.

David

Spooly

I need a 1954-P too! I have been holding out for a MS-66! I am trying to make one..... easier said than done!

LincolnCentMan

I've never seen a raw one better than 65RD. I've got about three hundred setting in tubes on my livingroom shelf. There might be four or five that MIGHT make it into a PCGS 64RD holder. The rest are all webbed out.

I got a really PQ 65 in a seriously Gem set that I bought about a year ago. I thought about sending it in, but I'm keeping it in my raw set. I dont think they'd 66 it.

I bought a 65RD off e-bay about a week ago simpley because I got it for about half of what I should have paid for it. It'll serve as a filler until I get a 66RD.

David

clackamas

>I bought a 65RD off e-bay about a week ago simpley because I got it for about half of what I should have paid for it. It'll serve as >a filler until I get a 66RD.

What did you pay for it? I have just about given up on trying to make a 66RD. I have 4 65's, 1 is at PCGS right now looking for an upgrade (yeah right) and have 2 more rolls on the way. I probably have about 10 Raw that would go 65 but this date has so many problems with spotting and strike. If you get one with a good strike, no spots then it the marks you have to worry about. I seriously think that $100 for a 65RD is cheap for this date. I really do not suspect that the Pops will ever climb much higher than they are right now. I know I am doing my best to reduce the OBW population. If these next 2 rolls do not do it then I am buying one. Its hard for me to buy one because I have made everyone of my coins in my set save 1.

oreville

I remember Wayne Herndon selling me a fabulous all red gem roll of 1954-P cents about three years ago. It was big bucks at the time. I remember even then how hard it was to find real gem rolls of 1954-P cents. I have never found a roll quite the qual of such roll before or since.

Maybe I better take a look at that roll again. It had absolute no webbing and it was a well struck and beautiful group of coins.

tradedollarnut

Oreville: Shhhh! - think what 50 MS67's would do to the market!

lazeroo

the 54-p in 66rd is going to get way more expensive. I've gone thru at least 20 rolls of bank rapped origonal rolls and there all junk. every coin is stained and with alot of marks. if you find a PQ 54 anyplace buy it.

oreville

What the heck.....I bought a 1972/72 DDO cent in PCGS MS-67 red from Ellesmere about three years ago that he would like to buy back from me. It is indeed a fabulous coin.

In checking the pop reports I just realized that since the last year or so, 2 1972/72 DDO's made it to MS-68 red which means my coin must be due for another checkup???????

There is an ocassional danger in having to "keep up with the Joneses?"

Gerry

Oreville - not sure if we are looking at the same pop reports, but as of last week I only see one 1972 Lincoln DDO in PCGS-ms68rd and it has been there since the beginning of last year. I believe that a couple of ms67rd's have been made in the past year. You are not looking at an ACG pop report are you?

It's true that its pretty early in the morning, so I don't quite get the connection between the 1972 DDO and the 1954p Lincolns being discussed in the thread. A little help please.

oreville

Gerry: It was 1:30 am when I posted. I am not sure what the 72 DDO has to do with the 54 either. :-)

The only thing I can think of was that I was checking the pop reports regarding the 54 cent and was surprised to see 2 MS-68 72 DDO's and just posted what I was thinking.