Wow 1933 Lincoln nice return on investment.
HalfDimeDude
Posts: 1,206 ✭✭✭✭✭
I picked this 1933 MS -65 red Lincoln about two years ago. A dealer friend came to me at a show and offered it to me for like under $25 it has some nice toning going on unfortunately Im unable to capture its true color as it is in hand. Im not really a Lincoln collector , but never turn down a good deal when one comes across my baby blues. It is a soft strike...but again its eye appeal is superb! It also came with a a reverse strike thru....looks to be a wood fragment...... not sure if the strike thru is a plus or minus ....but im seeing comps on this grade and date around $140. Ive been collecting way to long to call a coin an investment. However im sort of digging an increase of roughly 5 to 6 times my purchase price. Any value or minus on the error?
Anyone have a similar story to tell? Its show & tell time folks......
"That's why I wander and follow La Vie Dansante"
Comments
Just my personal preference, but I would pay less for the strike through than I would for a normal example.
The planchet flaw, strikethrough or whatever on the reverse is an enormous negative on the coin for most folks and would greatly reduce the liquidity and value, in my opinion.
In honor of the memory of Cpl. Michael E. Thompson
Well I am a Lincoln collector, and that is a very nice coin and in my grade too, so in line with the old adage, "You never go broke taking a profit", so even damaged, I'll offer you $50.00 for it!......
nice coin, but return on investment does not occur until sold and cash in hand
I don't know too much about these.
Perhaps @ErrorsOnCoins can chime in?
Not so.... by my definition...but your entitled to your opinion.....as it could be sold already if I accepted the offer above that would be 100% over my cash outlay.
"That's why I wander and follow La Vie Dansante"
Maybe if you were to get this in a holder with the error listed on the label it would have a broader appeal, as a Lincoln collector I would not be very interested in your coin due to the reverse damage. In fact if your smart you should take the offer that you have been given, it might be the best one you ever get.
My Collection of Old Holders
Never a slave to one plastic brand will I ever be.
I don't care too much for strikethroughs (or laminations) so that one wouldn't be for me. Otherwise it's a very nice coin!
The fact that they graded it a MS65 RD, even with the strike through tells me that this coin, without the strikethrough maybe would have graded probably around MS67. Maybe not, but suspect it would have. Wish they had posted it on the label. I've got several 67's that look worse than this coin. Heck, just weld the pothole shut!
You’re talking about an anticipated or expected return on your investment. People take many things as a given, which don’t necessarily turn out that way. Surely, you’ve heard about a would-be buyer or seller of a coin changing their mind.
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
I plan to hit my first show next Sunday in over a year....i wont have any problem selling as I have many dealer friends..... i havent paid 10% over grey sheet in the last 10 years! Most of the time 5 % or less..... as I worked the shows as security and was considered one of the dealers and always given a sweet deal.
"That's why I wander and follow La Vie Dansante"
The coin in question should never be given a grade of MS67, and I have seen MS65's that look far nicer than this.
My Collection of Old Holders
Never a slave to one plastic brand will I ever be.
And I understand that this isnt for everyone, but in 60 years of collecting Ive sold both lamination and strike throughs, as well other errors for more than book value.
But as it stands a $20 outlay anything over that amout is a plus...or profit. I sold a roll of unc 63 Franklin halfs all laminination issues for double their value .
And over the years have seen even crazier deals go down.
An example a complete set of unc Franklins at spot in a capital holder....and here's how that went down...a guy came in the show...with the set and asked dealers if they were interested.
No one wanted them as their inventories were over stocked....plus didn't want to make such an offer to the customer...the guy knew I worked the shows . He came to me and said no one wants these...my kids arent interested either.... I said nice set ...I buy them but only had X amount of $$$ left as I made my purchases before the show opened.
I had in pocket basically 10 % over spot on the set. He asked what I had I told him....and he said sold here's your set. And I made the purchased and parted it out on varieties as well unc coins.
"That's why I wander and follow La Vie Dansante"
So have I, but I've also seen a lot of coins graded higher that that I thought the grader must have been drunk. Not as many in Wheaties as in Morgan's though!
And this is why since slabs first came into being....buy the coin..... i for one am very happy knowing how to grade...some series more than others. The coin clubs of the 60's and early 70's gave their members the knowlege and confidence to buy a raw coin.
You have any idea's of how many collectors would pass over a raw specimen that was a better quality coin then the other one in a slab?
We had a big spender Doctor who came in the show, my buddy had to run home for some other coins...asked me to watch his table. Well it took me the bettet part of an hour , two other dealers...as well the dealer who owned the coins to convince him that the raw was hands down a better choice.
"That's why I wander and follow La Vie Dansante"
This1933 cent is beautiful on the obverse even very nice on the reverse with the execption of the planchet flaw but the reverse side issue does not hurt the value more than 25%.
Had the planchet flaw been on the obverse the value could have been hurt by 50%. I am sure even the OP would even agree.
Absolutely i have a beautiful woodie ,here posted look at Abes nose.... I still likevthe coin as I collect woodies world wide, at 67 one realizes its not a perfect world, sometimes you just accept what is...
"That's why I wander and follow La Vie Dansante"
Seems to me that maybe the reverse is the reason that it was sold for $25 in the first place.
I have never understood that argument.
There is no "return" until the investment is sold.
It really depends how liquid an asset is. For a stock, your gains and losses are updated by the second because you can realize the price with a click of a mouse. For a collectible, the sale price is speculative until the transaction is completed in most cases.
Yes. That is the exact argument I've never understood. If you bought 100 gem 1924 Saints in 1963 for $40 each, how do you value them now? What about if you bought them in 1989 for, what, $10,000 each?
There is currently a spread on any asset. For a more liquid asset, do you value it at the bid or the ask?
If you had put $10,000 in a ten year CD yielding 10%,on the day before it matures do you consider it worth $10,000 or $27.183?
Figuring a value for something is not the same thing as realizing a return.
edited to add... Zillow says my house is worth $350k and I paid $80k for it. What is my return?
INteresting philosophy and quite close to mine. I am also 67.
When you state woodies you mean woodgrain? I never heard of the term woodies before.
The lincoln cents of the late 1920's, even in high mint state grades, had the woodgrain look.
You’re argue about something with a clear, massive increase in value over time. The coin in question has a smaller potential gain and reason to believe much if not all of the gain may not be realized for the specific coin. Apples and oranges.
I’ve paid way over GS many times because I’ve found great coins well worth it. Just a thought, but paying a low price doesn’t just mean you got a great deal.
Correct the improperly mixed medal causing the wood grain effect on the coin. I find that in cents you will find more in the 1920's and 1930's time peroid, but youll find them before and after that decade. I call it war paint when seen on on buffalos.
"That's why I wander and follow La Vie Dansante"
I like it.
An interesting cent.... Though, if mine, I would likely resubmit to get the strike through/planchet flaw properly evaluated and identified on the label. Cheers, RickO
If mine, I’d unload it to the first buyer to recover my cost!
"Got a flaming heart, can't get my fill"
I know they are rare, but it seems minor (or at least unimpressive) as far as errors go.
I don't see a WOW factor premium.
OTOH, there is little to no downside, which is always a winner when it comes to buying and selling coins.
You obviously have enjoyed the coin which is another win.
BST: KindaNewish (3/21/21), WQuarterFreddie (3/30/21), Meltdown (4/6/21), DBSTrader2 (5/5/21) AKA- unclemonkey on Blow Out
BST: KindaNewish (3/21/21), WQuarterFreddie (3/30/21), Meltdown (4/6/21), DBSTrader2 (5/5/21) AKA- unclemonkey on Blow Out
I don't believe he has been offered anything for it.
Bruce7789 Posts: 282 ✭✭✭ April 24, 2021 4:11PM
Well I am a Lincoln collector, and that is a very nice coin and in my grade too, so in line with the old adage, "You never go broke taking a profit", so even damaged, I'll offer you $50.00 for it!......
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
Guess I missed that one. Think I'd pass on that however.
The price of the coin is based on the grade and not the small strike through that will hurt the price.
Small strike thrus will lower the value of type coins.
A large strike thru with great eye appeal may increase the price depending on the type coin.
As Mark pointed out you missed it, if you want to own this coin for a great many years then passing on an offer to double your money is a valid choice. But if you consider that this is a damaged coin, an exceptionally common coin in the series, and in a grade that few are seeking, well I know what I would do. I personally don't see any dealer that has any market savvy paying even close to $50 for a coin that they should know will sit in inventory for what is likely to be a very long time.
My Collection of Old Holders
Never a slave to one plastic brand will I ever be.
Just my thoughts:
Since I don't sell coins, I would send it into our host and have the "strike thru" attribution added.
Then I would add it to my strike thru collection.
Wayne
Kennedys are my quest...
Options are like Civil war generals....a dime a dozen....one mans trash is anothers treasures....need I remind you Yugo one of the worst cars in history sold 1050 nation wide in a single day in the mid 80's ....that said not unloading this on anyone I dont need to sell it or any other of my holdings....but i will post next Sunday the price I received for it at the show. And then we will see....
"That's why I wander and follow La Vie Dansante"
I've read A lot of comments both pro and con about my offer to buy this coin. First of all, i don't make offers I don't back up. I would pay $50.00 for the coin. My son can either keep it or sell it 50 years down the road, but just like the collection I am building, I have most of the major mint errors and a lot of the Minor ones included in the set. Is it worth $50.00? Who knows, it might be, or then again it might not be, but it really doesn't matter. It's only $50.00 and I'm not buying it for resale.
If I do end up with it, am going to resubmit it for correction of the label, then it will go into the collection along with the RPM's, Minor DDO's, mainline DDO's etc. For example, aside from the Wheat back errors, I have 6 different types of 1972/72 DDO's and they're not even wheats along with a whole bunch of other Memorial mint errors, (1972's,1983, 1984, 1995 DDO's, etc), all in MS 65 RD and I don't even collect memorials, except for the errors, because I don't like the zinc cores or whatever they are. Again, my son can keep them, or dump it. Not going to be my choice.
I do know this, I bought the 1960 D/D's for less than $10.00 when they were first spotted, I didn't pay more than $6.00 for the 3 1995 DDO's I have, all in high grades, and so on. Go look up the prices now!
I just like the looking and occasional purchasing to add to the collection. The collecting is what I enjoy, and these errors, for better or worse are part of the collecting, at least for me! And it keeps an old man busy looking and having fun and interacting with a great, for the most part, bunch of people Everyone collects different, and Viva la difference!
Bruce
But then you are into a $25 coin for $75
There is never a profit for me in any coin purchase. I lose money on every coin that I purchase. I can not make up this lose by buying in "volume".
As for paying $75.00 for a $25.00 coin, it sounds a lot like the markup price that some dealers are asking for common, ordinary $10.00 coins. lol 
Wayne
Kennedys are my quest...
And for this reason many self slab.... either cost prohibited or do to possible details on the label.
See that thread it should be easy to locate. And yes I do see coins graded where their value to begin with is less that the cost to slab...
"That's why I wander and follow La Vie Dansante"
Hey Bruce
I appreciate your offer, but it sold yesterday at the show for $55. and i didnt need to ship.
I know that you really didnt need it so it was a no brainer.. to let it go for $30 profit.
Good luck hunting those 65 red Lincolns... Thanks again.... regards Paddy
"That's why I wander and follow La Vie Dansante"
Not quite the payday you were touting. And that is why you don't count your chickens before they hatch.
My Collection of Old Holders
Never a slave to one plastic brand will I ever be.
Hey I got what I paid for it plus $35 so mr know it all... i'm very happy ...so mr chicken rancher....You can stick your opinion where the sun dont shine!
"That's why I wander and follow La Vie Dansante"
To be fair, in your initial post, you wrote: "However im sort of digging an increase of roughly 5 to 6 times my purchase price." And I saw nothing inaccurate in his post.
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
Thats your opinion and youre entitled to it. As well I am mine....no worries thats why theres an iggy button.....as there are way to many "Nice people " on this forum to deal with jerks. And... know it alls!
"That's why I wander and follow La Vie Dansante"
Glad you sold it and what you sold it for doesn't matter. If you're happy, good to go! Thanks for the heads up!
Bruce
Just think how nice the coin would look if it had the correct looking "33" in the date like the 1934-D does.
Pete