Crazy
STEWARTBLAYNUMIS
Posts: 2,697 ✭✭✭✭
Last night in auction
I sold a 1971 proof 68 D Cam Lincoln cent for $36 Someone else sold a 1971 proof 69 D Cam Lincoln cent for $ 9,250
Crazy !
5
Comments
Indeed.
Lance.
Crazy is right.
HUGE PRICE JUMP!
Can you verify the $9250 sale was a legitimate sale ? What venue ?
"Everything is on its way to somewhere. Everything." - George Malley, Phenomenon
http://www.american-legacy-coins.com
What would be crazier is if the 69 DCAM was placed among a group of 100 - 68 DCAM's and most CAM cent collectors couldn't successfully pick out the 69. I hope that's not the case with a 257X premium for the 69.
Guess one should never complain about what OTHER people like, and spend their money on....
But, man, I just think of the coins I could get for $9k that would thrill me MUCH more than a 1971 proof Lincoln.....Probably even 6 or 8 coins!
The "Registry fever" virus has struck again.
Too many positive BST transactions with too many members to list.
What is the percentage increase/decrease
from to ?
$36 to $9250 = 25594.444444444445 % Crazy indeed.
Some of those leaps in "value" are out there when the numbers diminsh to unique.
BST transactions: dbldie55, jayPem, 78saen, UltraHighRelief, nibanny, liefgold, FallGuy, lkeigwin, mbogoman, Sandman70gt, keets, joeykoins, ianrussell (@GC), EagleEye, ThePennyLady, GRANDAM, Ilikecolor, Gluggo, okiedude, Voyageur, LJenkins11, fastfreddie, ms70, pursuitofliberty, ZoidMeister,Coin Finder, GotTheBug, edwardjulio, Coinnmore, Nickpatton, Namvet69,...
Is it really crazy if that was the coin that put THE type set into the hall of fame and $9k is ten minutes worth of work for the owner? Just sayin....
Greysheet bid/ask on the complete 1971 Proof set is $2.75/$3.25
So, at an average of $3 per set (which would be paying strong), I could get over 3000 full sets for that same $9250 that was paid for this one "special" cent... and I'd guess that in those 3000+ sets I would be able to find at least one "special" cent that I could live with!!
Michael Kittle Rare Coins --- 1908-S Indian Head Cent Grading Set --- No. 1 1909 Mint Set --- Kittlecoins on Facebook --- Long Beach Table 448
Coindeuce- Great Collections last night
Tradedollarnut - we are talking about modern Lincoln memorials
Does a Proof 1971 Lincoln cent part of a Hall of Fame collection ?
I think you would say Hall of Shame
I understand what you are saying. "To each his own". If he found joy, we should be happy for him.
Still makes me shake my head.
(Then again, someone spending $10mil on a coin makes me shake my head).
In retribution, you may scoff at my VG-10 Bust Dollar....which I like very much.
wow
What I'm saying is that $9k spread out over a $20M set to someone earning $20k an hour must be taken in context....
For fellow collectors, I'd say it's a good thing deep pocketed folks are chasing high grade memorial cents and not the coins we are more interested in. Less competition!
What a difference a grade makes!
What if the 9dcam is a FS032, FS033 or FS033.1 variety and not attributed on the holder?
Perhaps some of the penny weenies don't know as much as they think they do.....
Other than that, $9k for a '71s is off the charts.
“In matters of style, swim with the current; in matters of principle, stand like a rock." - Thomas Jefferson
My digital cameo album 1950-64 Cameos - take a look!
I know I wouldn't do it. I don't think you'd do it if that was your $20 MILL type set. And I hope PRCC wouldn't do it. That same $9K could be spent on any number of coins already in the 4/5 figure range to get you another point as well. The MS65 1921 Peace dollar could easily be upgraded to 66 for a couple thousand. A reasonable use of 1 pt. That full $9K just might get you up to a MS67.
And what happens when the 2nd PF69 DCAM gets made? And the 3rd....4th.....etc.
I paid over $600k for the 1851&1852. That's stupid money....doesn't matter that it's for great coins. Stupid is as stupid does - been there, done that!
I guess that;s the "name of the game" today
Luckily, I do not play the game
Successful transactions with : MICHAELDIXON, Manorcourtman, Bochiman, bolivarshagnasty, AUandAG, onlyroosies, chumley, Weiss, jdimmick, BAJJERFAN, gene1978, TJM965, Smittys, GRANDAM, JTHawaii, mainejoe, softparade, derryb, Ricko
Bad transactions with : nobody to date
I'd rather pay a stupid price for an insanely rare coin than for a nearly invisible grade point on a dirt common coin.
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
I suppose we're talking about a '71-S, not a '71, since only SF minted proof cents in that era.
The buyer probably figured he got a deal. Price guide is $13,000. In 2004 Heritage sold one for $17,250! Now that's nuts.
Lance.
Never mind the stakes. Would you ever say the same about a billionaire splitting nines against a dealer's king?
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
I bought in one time for $10k with the express intention of playing crazy: doubling on blackjack, splitting tens, hitting stiffs. Didn't care if I lost money - it was for fun as I was bored with blackjack.
Wouldn't you know it - I won, but that's besides the point. The point is entertainment comes in many shapes and forms and one man's crazy is another man's fun
This is the new craze. High grade moderns. Although this coin was a proof, searching for decent, no spot Lincolns is a real challenge. The way I look at it, if this is your cup of tea, go ahead and drink all you want. This is, after all, a HOBBY. Young numismatists have to have something to look for. This is an example of why it is a good idea to search for "nice" coins. It is an impetus to search. Have fun!
Pete
Yes it was a 1971 s
No it was not a double die Fs 032 or FS 033
FYI it is a pop 9 coin
And like many (or most) gem copper proofs, are on their way to getting their first spot. I encourage YNs to look for wonderful examples for a couple bucks apiece. I don't expect them to be shelling out $9K, or even $900.
Bidding 200 K for an xf 45 1802 half cent was also crazy
Paying $980,000 for an AU 1793 Liberty cap is also crazy
If PCGS changed the price guide to $2,000 for a proof 69 D Cam 1971 s Lincoln cent
Do you think it would have sold for less than $9,250 ?
Whatever floats your boat. As long as a person is informed on the subject matter and is not being misled, go ahead and decide the who, what, when, where and how you will use your resources. The "Why" is nobody's business unless you choose to make it so.
I would never spend $100,000.00 during a night at the club, in the VIP room, buy a case of bubbly at $5,000.00 a bottle and "make it rain" with $100.00 bills. For an athlete and entertainer who just signed a multi million dollar contract it could [and does] make sense.
.
Insert witicism here. [ xxx ]
I hope there was no one at the table besides you and the dealer. LOL.
Lance.
EXACTLY!!!!
What floats your boat today might sink it tomorrow...
Did you just assume the buyers gender?
Hahaha, I crack myself up.
Don't worry. Another one will be made soon enough and the coin's value will crater. Reminds me of the finest known Full Bell 53-S Franklin Half threat of about ten years ago.
"Seu cabra da peste,
"Sou Mangueira......."
POP 9 for the 69 DCAM vs. 183 for the 68 DCAM, and $9,250 was a relative bargain for the 69 which CoinFacts lists as $13,000 and no auction results less than $10K. I know that I cannot tell the difference between 68 and 69 DCAM on a '71 Lincoln Memorial proof. This is a great example of TPG grading making no sense.
But maybe you should have dipped your 68 in acetone or MS70 to turn it blue........then you might have sold it for $500-1000. Except that it may not turn blue.......it would just turn blaynd.
OINK
I've never understood the fascination with how others spend their money. Especially when it comes to collectables. We are are wired differently.
mark
Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
My son and I probably screened through the better part of 5,000-10,000 proof sets from 1971 (over a multi-year period) in search of the Lincoln Cent in PR69DCAM grade. In the process, we graded a number of PR68DCAM and PR69CAM coins as well as the pop 1 PR68+DCAM (if memory serves me right). Here is a pic of the PR68+DCAM we graded that we really liked as one of the nicest specimens we ever handled (and never sold the coin as it served as our reminder that our mission was never completed). And, of course, we felt our 68+DCAM was a 69DCAM on many other days and PCGS may see it again one day.
Wondercoin
A year or so ago, a CCE dealer got in touch with us on CCE and offered us a freshly graded PR69DCAM specimen that was a solid piece for the grade. We bought it (for more money than the GC coin just sold for). If memory serves me right, there were a couple prior auction sales WAY over the price the coin just fetched on GC. One of those sales was FUN 2004 Heritage ($17,250). But, of course, the pop is slightly higher now than it was back then.
Make no mistake about it - this date in the grade of PR69DCAM (properly graded) is a very scarce Lincoln Cent. And, IMHO, the undergrade coins are quite the bargain at the low levels they fetch. They are not that easy to locate either. Just my two cents.
Wondercoin
The other point: Coins don't get bid up to $9,250 based on one bidder only! Someone else was in there too.....> @ShadyDave said:
I've been married long enough to know that any time someone is caught doing something at all questionable, it has to be a man.
and what happened to that 70 graded lincoln?
Of course.
Just like there are people who spend $9000 for a bottle of wine or a pair of shoes, and yes, they're a bit nicer (maybe) than the $36 wine or shoes. Then again, maybe they're not, the quality is about the same and the price difference is just for the brand name.
Liberty: Parent of Science & Industry
Haha. He was on third base!
John DuPont drove 2 new Lincolns into a pond for fun.... Now that's crazy... 9k on a 71 proof lincoln is still crazy ... just on a smaller scale.
Successful trades.... MichaelDixon,
To each his own.
71-S are tough in DCAM.
For years they were "held back" by the magical cutoff date of 1970.
The typically encountered coin has haze, weak to medium unattractive mirrors, and plagued by tiny spots. Ugly rim spots are common.
Reverse contrast is usually weak, even on so-called DCAMs.
Not an easy one.
Would I be satisfied with a 68DC for $40?
Yes.
Would I pay $9k for a 69DC?
No.
But it's not my 9k, and I don't care if they buy a 71-S PR69DC or get their poodle an emerald studded sweater or buy scratch offs or go to the Super Bowl.
Not my money, don't give a damn.
The coin was important to someone, they had the cash and the desire to own it.... I hope they are happy - case closed. Cheers, RickO
Some things in this life [especially things that other people do] are not meant to be understood
Successful transactions with : MICHAELDIXON, Manorcourtman, Bochiman, bolivarshagnasty, AUandAG, onlyroosies, chumley, Weiss, jdimmick, BAJJERFAN, gene1978, TJM965, Smittys, GRANDAM, JTHawaii, mainejoe, softparade, derryb, Ricko
Bad transactions with : nobody to date
It won't stay pop 9 for long as news stories of stupidly high sale prices hit the market. There are untold thousands of these sets still sitting in original packaging, many of which have yet to opened much less slabbed... and I will gladly bet money right now that there are many other high end coins in them. Anyone paying moon money for high end moderns based on low current pops is playing a sucker's game. The only winner is the seller, because as time passes the pops will go up and these four and five digit coins will crash and burn...meaning that it will only be a question of how much you lose if and when you or your heirs liquidate. THAT is what's crazy.
RIP Mom- 1932-2012