The mark behind the neck of Lincoln might be smaller than it looks in the Heritage picture. I've had marks amplified in photos that I have taken. That mark was one of factors that led me to say over priced, but even it's smaller, The spots are also much more prominent in the Heritage photo. I still think it's way over priced.
Retired dealer and avid collector of U.S. type coins, 19th century presidential campaign medalets and selected medals. In recent years I have been working on a set of British coins - at least one coin from each king or queen who issued pieces that are collectible. I am also collecting at least one coin for each Roman emperor from Julius Caesar to ... ?
@REALGATOR said: "Is it safe to assume the graders know they are giving a coin a "top pop 1" before it leaves the room? "
You can bet that coins like this get lot's of critical attention. I'll bet even the company owner was in on this one.
There is one huge error that I know of that could possibly explain this coin to those who disagree with the assigned grade: A senior finalizer did not see a coin (he was out) and the senior member of the team (who was eventually let go and this was just one reason) over-ruled two very experienced graders who thought the coin was a point lower. The coin went out as a '65 and the company had to "eat the very expensive mistake."
Its a rather serious event. Not just for the new top pop transaction but for those holding a 66RD. It may not be a zero sum game but I'd guess the $100K+ the submitter just scored will be taking a little bite out of the near-future 66RD selling prices. Let the re-submissions begin!
Per Bill Jones, "The "poster child" coin on Coin Facts is the same coin. The Trueview doesn't show the mark as much as the HA image."
Yet another reason why I never buy a coin based on an image. Two different images of the same coin, yet they look so different.
"Vou invadir o Nordeste, "Seu cabra da peste, "Sou Mangueira......."
3) What's going on to the viewer's lt. of O (of one) and the top of the N (of cent) on the reverse? Is this a toning break, or something else? I couldn't tell unless I saw the coin personally.
To the left of the "O" is some type of planchet/striking issue. It appears to show up on many or most of the 66's that are photographed at Coinfacts/Heritage. Other interesting striking issues can be found along the rear border of Lincoln's back.
I'm just thinking of the economics of this grade and the incentive it will give to have other non plus graded coins from either service resubmitted to be the top or near top dog. Those who made real money on this deal/upgrade are very happy with the outcome and are going to take their profits likely to do more business with grading services. Who wouldn't want a PCGS 66+ rare coin vs. the alternative.
For more info, the HA description provides an indication of how obvious the mark is behind Lincoln's neck is. It indicates that the mark behind Lincoln's neck isn't obvious or distracting, and (only) visible under magnification. A bonus of the mark is that it can be used as a pedigree identifier.
For the people that saw this in hand, do you agree with the description?
Heritage description
The surfaces on this piece are exceptionally clean and problem-free with no obvious or distracting abrasions on either side. Magnification shows one mark behind Lincoln's neck that can be used as a pedigree identifier. This Plus-graded Premium Gem is at the pinnacle of preservation for this key issue and is certain to end up in a major Lincoln cent set.
The color in the Heritage photo shows
the dull muted color of this coin.
The coin facts photo is deceptive at best
And is no indication of the true color or luster of this coin
Because of this dull muted luster on this coin,there is no way it should have graded 66 red. MS 65 red would be maxed out.
Perhaps PCGS graded the coin from the try view image ?
TDN, what do you make of a six figure coin hitting the reserve almost a month before the sale? I'm asking because I don't follow that many coins in that range, but with my limited experience, I will say I have never seen it.
Happens all the time. As far as Stewart bashing the coin, in the past few months he’s done it three times here. One, he admitted that he bashed it to buy it cheaper. My question for him is did he try to buy either of the other two? Pretty soon, a pattern might emerge...
Ok. I don't see it in the small cent world of Flying Eagles, Indian Head cents, or Lincolns. If there is a six figure small cent at auction with a reserve, it will not hit that reserve until the day or night of the auction.
Comments
The mark behind the neck of Lincoln might be smaller than it looks in the Heritage picture. I've had marks amplified in photos that I have taken. That mark was one of factors that led me to say over priced, but even it's smaller, The spots are also much more prominent in the Heritage photo. I still think it's way over priced.
@REALGATOR said: "Is it safe to assume the graders know they are giving a coin a "top pop 1" before it leaves the room? "
You can bet that coins like this get lot's of critical attention. I'll bet even the company owner was in on this one.
There is one huge error that I know of that could possibly explain this coin to those who disagree with the assigned grade: A senior finalizer did not see a coin (he was out) and the senior member of the team (who was eventually let go and this was just one reason) over-ruled two very experienced graders who thought the coin was a point lower. The coin went out as a '65 and the company had to "eat the very expensive mistake."
Its a rather serious event. Not just for the new top pop transaction but for those holding a 66RD. It may not be a zero sum game but I'd guess the $100K+ the submitter just scored will be taking a little bite out of the near-future 66RD selling prices. Let the re-submissions begin!
The coin facts photo certainly looks better than the Heritage pic.
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Per Bill Jones, "The "poster child" coin on Coin Facts is the same coin. The Trueview doesn't show the mark as much as the HA image."
Yet another reason why I never buy a coin based on an image. Two different images of the same coin, yet they look so different.
"Seu cabra da peste,
"Sou Mangueira......."
The big question is why did PCGS grade
this coin ms 66+ ??????
So that they can Justify 68's on your next submission
Martin
To the left of the "O" is some type of planchet/striking issue. It appears to show up on many or most of the 66's that are photographed at Coinfacts/Heritage. Other interesting striking issues can be found along the rear border of Lincoln's back.
I'm just thinking of the economics of this grade and the incentive it will give to have other non plus graded coins from either service resubmitted to be the top or near top dog. Those who made real money on this deal/upgrade are very happy with the outcome and are going to take their profits likely to do more business with grading services. Who wouldn't want a PCGS 66+ rare coin vs. the alternative.
but there's no sticker this time...
https://pcgs.com/setregistry/showcase/2819
I'll just keep my 65. They have killed the "street value" of my coin though.
I would rather have your coin.
The hit isn't nearly as noticeable in the PCGS photo. Wonder how it looks in hand.
PCGS 82128974 - PCGS Price Guide Value $175,000
HA 1258-3896 - Sold for $152,750
Probably $15k or thereabouts. And the obverse of this coin barely makes RD, and I mean barely.
It could be that the buyer didn't buy the holder........he bought the TrueView. The coin will look great in a digital album.
OINK
Kudos to the seller and auction house. In the school of higher learning, it's tuition.
For more info, the HA description provides an indication of how obvious the mark is behind Lincoln's neck is. It indicates that the mark behind Lincoln's neck isn't obvious or distracting, and (only) visible under magnification. A bonus of the mark is that it can be used as a pedigree identifier.
For the people that saw this in hand, do you agree with the description?
The color in the Heritage photo shows
the dull muted color of this coin.
The coin facts photo is deceptive at best
And is no indication of the true color or luster of this coin
Because of this dull muted luster on this coin,there is no way it should have graded 66 red. MS 65 red would be maxed out.
Perhaps PCGS graded the coin from the try view image ?
I agree with your comments on the HA photos but those are photos. Have you seen this coin in hand?
Yes
TDN, what do you make of a six figure coin hitting the reserve almost a month before the sale? I'm asking because I don't follow that many coins in that range, but with my limited experience, I will say I have never seen it.
Happens all the time. As far as Stewart bashing the coin, in the past few months he’s done it three times here. One, he admitted that he bashed it to buy it cheaper. My question for him is did he try to buy either of the other two? Pretty soon, a pattern might emerge...
Ok. I don't see it in the small cent world of Flying Eagles, Indian Head cents, or Lincolns. If there is a six figure small cent at auction with a reserve, it will not hit that reserve until the day or night of the auction.
The bigger question is who are they awarding the Top Pop to!
Heritage Auction says Not Sold.