Between the the three mentioned, I would say GC. @ianrussell does not throw as large of a lasso, being more specialized than the other two. Coins and paper are a small and smaller part of the other two mentioned. IMO.
oih82w8 = Oh I Hate To Wait _defectus patientia_aka...Dr. Defecto - Curator of RMO's
@Cougar1978 said:
For me and the material I do - GC. I believe they offer the option > @oih82w8 said:
Between the the three mentioned, I would say GC. @ianrussell does not throw as large of a lasso, being more specialized than the other two. Coins and paper are a small and smaller part of the other two mentioned. IMO.
Just because an auction house (also) conducts sales in categories other than “coins and paper”, doesn’t mean it’s not the largest auctioneer of rare coins and currency.
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
@Cougar1978 said:
For me and the material I do - GC. I believe they offer the option > @oih82w8 said:
Between the the three mentioned, I would say GC. @ianrussell does not throw as large of a lasso, being more specialized than the other two. Coins and paper are a small and smaller part of the other two mentioned. IMO.
Just because an auction house (also) conducts sales in categories other than “coins and paper”, doesn’t mean it’s not the largest auctioneer of rare coins and currency.
jkrk said what?
You never know what you said until you read it in print? LOL
@Cougar1978 said:
For me and the material I do - GC. I believe they offer the option > @oih82w8 said:
Between the the three mentioned, I would say GC. @ianrussell does not throw as large of a lasso, being more specialized than the other two. Coins and paper are a small and smaller part of the other two mentioned. IMO.
Just because an auction house (also) conducts sales in categories other than “coins and paper”, doesn’t mean it’s not the largest auctioneer of rare coins and currency.
jkrk said what?
You never know what you said until you read it in print? LOL
I apologize for that. I have no idea how it happened, as I thought I hit “Quote” at the bottom of the original post from oih82w8, which I have copied below.
oih82w8 Posts: 11,026 ✭✭✭✭✭ October 5, 2022 4:41PM
Between the the three mentioned, I would say GC. @ianrussell does not throw as large of a lasso, being more specialized than the other two. Coins and paper are a small and smaller part of the other two mentioned. IMO.
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
@Cougar1978 said:
For me and the material I do - GC. I believe they offer the option > @oih82w8 said:
Between the the three mentioned, I would say GC. @ianrussell does not throw as large of a lasso, being more specialized than the other two. Coins and paper are a small and smaller part of the other two mentioned. IMO.
Just because an auction house (also) conducts sales in categories other than “coins and paper”, doesn’t mean it’s not the largest auctioneer of rare coins and currency.
@alaura22 said:
SOOOOOO
What did you decide to do with your coin?
Thank you for all of your feedback! As crazy as this may sound, but I really love the coin so I’ve been admiring it over the last couple of days ❤️. It just arrived in the mail from PCGS, and when I held it in my hand I was like ‘wow’…
As much as I wish I could keep it, I need the money for college so I’m going to figure out a plan soon…I’m thinking the easiest path might be to go to the GC, especially since I don’t have any experience selling or negotiating coin deals, etc.
The coin has inspired me to ‘keep digging’ and I’ve found a couple more coins that I really like a lot, so I’m going to send those off to be graded soon so I hope to find another really good coin soon. ❤️
Thank you for the note about the tax bill, that’s something I didn’t think about…maybe I should start an LLC for my coin hobby? I’m only trying to save money for university, I’m not sure how many years I’ll be dealing with coins, but for tax reasons maybe starting an LLC is smarter avenue (?)
Not necessary to form an LLC just to sell a handful of coins. Don’t overthink things. Give the coin(s) to an auction house and basically sit back and wait for the check.
It is going to be very difficult to repeat this situation where you located a top pop (and low pop) coin with such a small sample of sets. There are people that look through and submit tens of thousands of mint set / proof set coins to obtain top pops. That’s where the LLC might come into play.
Probably best to consult with your accountant or tax advisor. If this sells for what people think it would appear you will have a significant tax gain event. Tax rates on collectibles are something don’t consider.
Thank you for all of your help and feedback! I went ahead and sent the pennies to Great Collections, they seem to care a lot about helping coins find the right homes. I took a lot of photos of the penny before I shipped it, I will always remember it as my first great find 🥰❤️. I hope it finds a loving home, someone who will cherish it in their collection for years to come. Thank you for your insight and guidance
Wouldn't it be awesome if D.L. Hansen bought it to replace his MS68!?
."It's a dangerous business... going out your door. You step onto the road, and if you don't keep your feet, there's no knowing where you might be swept off to" -JRR Tolkien_________________________________________________________________________________________________________________________________________Outstanding BST transactions as a seller, buyer and trader with: ----- mustanggt, Kliao, claudewill87, MWallace, paesan, mpbuck82, moursund, basetsb, lordmarcovan, JWP, Coin hunter 4, COINS MAKE CENTS, PerryHall, Aspie_Rocco, Braddick, DBSTrader2, SanctionII, Histman, The_Dinosaur_Man, jesbroken, CentSearcher ------ANA Member #3214817
@Davidcoins said:
Thank you for all of your help and feedback! I went ahead and sent the pennies to Great Collections, they seem to care a lot about helping coins find the right homes. I took a lot of photos of the penny before I shipped it, I will always remember it as my first great find 🥰❤️. I hope it finds a loving home, someone who will cherish it in their collection for years to come. Thank you for your insight and guidance
I’m getting the sense that you did not hand GC the coins at the Long Beach show? Thought I read in this post you live somewhere near L.A., so I’m hoping you drove over to GC’s office and hand delivered them? Can’t imagine you took the chance of mailing that valuable coin when you’ve been given so many opportunities to avoid that step.
I’m getting the sense that you did not hand GC the coins at the Long Beach show? Thought I read in this post you live somewhere near L.A., so I’m hoping you drove over to GC’s office and hand delivered them? Can’t imagine you took the chance of mailing that valuable coin when you’ve been given so many opportunities to avoid that step.
Thankfully the coin made it safely to Great Collections
Honestly I didn't even think about potential problems with the mail, I'm new to coins so that didn't occur to me. I live in Southern California but not that close to Long Beach so it was a little bit of a haul to make it there and unfortunately I couldn't make it work on short notice. I sent the package by Fed Ex, I'm not sure if that was wise or not, but next time I have a valuable coin I can probably figure out a way to hand deliver it to GC, since I live in So Cal...
Thanks for the heads up about potential mail issues, thankfully everything worked out this time but I will hand deliver next time for sure ❤️
having private insurance or registered usps is probably the top 2 recommendations. i think the one where you tape all the seams and/or whole box is called registered. expensive, slow but supposedly the best, especially if claims have to be made.
it is best to be able to have proof of your item(s) and their potential values. so take pics of the items, forms, boxes, everything JUST on the off chance, especially because the camera phones are of such high quality, even for older generations. people have struggled with claims trying to prove the value of their items BEFORE they get to the grading services. after isn't quite so hard, usually.
I’m getting the sense that you did not hand GC the coins at the Long Beach show? Thought I read in this post you live somewhere near L.A., so I’m hoping you drove over to GC’s office and hand delivered them? Can’t imagine you took the chance of mailing that valuable coin when you’ve been given so many opportunities to avoid that step.
Thankfully the coin made it safely to Great Collections
Honestly I didn't even think about potential problems with the mail, I'm new to coins so that didn't occur to me. I live in Southern California but not that close to Long Beach so it was a little bit of a haul to make it there and unfortunately I couldn't make it work on short notice. I sent the package by Fed Ex, I'm not sure if that was wise or not, but next time I have a valuable coin I can probably figure out a way to hand deliver it to GC, since I live in So Cal...
Thanks for the heads up about potential mail issues, thankfully everything worked out this time but I will hand deliver next time for sure ❤️
In the future, I strongly advise against using FedEx for valuables unless you have private insurance.
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
In the future, I strongly advise against using FedEx for valuables unless you have private insurance.
I agree. The FedEx service guide explicitly states that FedEx DOES NOT provide insurance coverage.
What I found interesting is I had two watches recently serviced by Rolex and was amazed they both were delivered to me next day from Texas. In checking further I learned:
"FedEx Declared Value Advantage is only available for reoccurring high-value jewelry shipping. One-time jewelry or other high-value commodity shipping needs are not eligible for this service.
The FedEx Declared Value Advantage service gives eligible shippers the opportunity to declare values up to USD $100,000 per domestic shipments and up to $25,000 to select international destinations on specialty items like jewelry, gemstones and precious metals versus the standard maximum declared value of USD $1,000.00. FedEx Declared Value Advantage provides coverage throughout the US and to select international locations.
To determine if you are eligible for this program, please complete the application below and a Declare Value Advantage Representative will contact you."
Has Heritage ever approached FedEx about participating in this program?
In the future, I strongly advise against using FedEx for valuables unless you have private insurance.
I agree. The FedEx service guide explicitly states that FedEx DOES NOT provide insurance coverage.
What I found interesting is I had two watches recently serviced by Rolex and was amazed they both were delivered to me next day from Texas. In checking further I learned:
"FedEx Declared Value Advantage is only available for reoccurring high-value jewelry shipping. One-time jewelry or other high-value commodity shipping needs are not eligible for this service.
The FedEx Declared Value Advantage service gives eligible shippers the opportunity to declare values up to USD $100,000 per domestic shipments and up to $25,000 to select international destinations on specialty items like jewelry, gemstones and precious metals versus the standard maximum declared value of USD $1,000.00. FedEx Declared Value Advantage provides coverage throughout the US and to select international locations.
To determine if you are eligible for this program, please complete the application below and a Declare Value Advantage Representative will contact you."
Has Heritage ever approached FedEx about participating in this program?
Sorry, I don’t know.
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
@Davidcoins said:
If the penny doesn't sell in the Great Collections auction, I might do that...take it to shows 🤔
Im thinking about holding on to it for a little lol...I have mixed feelings about letting it go anyway
This is an auction coin.
Unless you are taking it to FUN or the ANA, most bourse dealers would probably have little interest except on speculation, i.e., lowball offers.
You may consider a direct offer to a dealer who specializes in high end modern cents.
I hope you get a bid, but I am concerned that you placed your reserve too high in the auction.
There is no auction data for an MS69RD, but the auction data for an MS68RD shows this to be a $100 coin. I realize the reserve is set to reflect the PCGS price guide, but that is a guess, too. The reserve of $4,800 plus either 10% or 12.5% BP (depending upon method of payment) would yield a final purchase price of $5,280-$5,400 for the winner. Also, the GC images show what appears to be a new spot on the obverse under the TY of LIBERTY that is not shown in the TrueView images. This might make folks give pause since this is a newly certified coin. I realize it might not be a spot, but who wants to drop $5k to find out?
I also agree that unless you know where to go that this is likely not a "shop around the bourse floor" kind of coin, but you may get lucky if you do so. Good luck!
Edit Okay now I see a thread about it. Never Mind!
Just now when I clicked on the coinfacts link I got the below. It was working 40 minutes ago.
Update it change to the 2nd one below.
https://youtube.com/watch?v=2YNufnS_kf4 - Mama I'm coming home ...................................................................................................................................................................... RLJ 1958 - 2023
Thanks for the feedback! If the coin doesn't sell, I'll take another look at it to see if that's a new spot or not on the coin (hopefully it isn't!)
In regards to pricing, there's a mountain of difference between a 68 and a 69 coin, you can't even really compare those two grades, they're not in the same league.
The minimum reserve may seem high, but there are only 4 1987 pennies ever graded by PCGS at 69 -- ever -- so I don't mind waiting for the penny to find the right home.
You're absolutely correct, this penny isn't for the average collector, it's for elite collectors, it may take an couple of auctions before they realize this penny is out in the world. I don't mind being patient, it's a fair price for a coin with only 4 ever graded ❤️
@TomB said:
I also agree that unless you know where to go that this is likely not a "shop around the bourse floor" kind of coin, but you may get lucky if you do so. Good luck!
@Cougar1978 said:
For me and the material I do - GC. I believe they offer the option > @oih82w8 said:
Between the the three mentioned, I would say GC. @ianrussell does not throw as large of a lasso, being more specialized than the other two. Coins and paper are a small and smaller part of the other two mentioned. IMO.
Just because an auction house (also) conducts sales in categories other than “coins and paper”, doesn’t mean it’s not the largest auctioneer of rare coins and currency.
Thanks for the feedback! If the coin doesn't sell, I'll take another look at it to see if that's a new spot or not on the coin (hopefully it isn't!)
In regards to pricing, there's a mountain of difference between a 68 and a 69 coin, you can't even really compare those two grades, they're not in the same league.
The minimum reserve may seem high, but there are only 4 1987 pennies ever graded by PCGS at 69 -- ever -- so I don't mind waiting for the penny to find the right home.
You're absolutely correct, this penny isn't for the average collector, it's for elite collectors, it may take an couple of auctions before they realize this penny is out in the world. I don't mind being patient, it's a fair price for a coin with only 4 ever graded ❤️
@TomB said:
I also agree that unless you know where to go that this is likely not a "shop around the bourse floor" kind of coin, but you may get lucky if you do so. Good luck!
@Davidcoins said:
Thanks for the feedback! If the coin doesn't sell, I'll take another look at it to see if that's a new spot or not on the coin (hopefully it isn't!)
In regards to pricing, there's a mountain of difference between a 68 and a 69 coin, you can't even really compare those two grades, they're not in the same league.
The minimum reserve may seem high, but there are only 4 1987 pennies ever graded by PCGS at 69 -- ever -- so I don't mind waiting for the penny to find the right home.
You're absolutely correct, this penny isn't for the average collector, it's for elite collectors, it may take an couple of auctions before they realize this penny is out in the world. I don't mind being patient, it's a fair price for a coin with only 4 ever graded ❤️
Reading your thoughts above, I wish you the best of luck.
A nice grade....but the Coin itself I find very unappealing. The die polish marks on the fields are very distracting. Oh...and I owned a MS70 RD 2006 , labeled as MS, but was a satin finish.
@ambro51 said:
A nice grade....but the Coin itself I find very unappealing. The die polish marks on the fields are very distracting. Oh...and I owned a MS70 RD 2006 , labeled as MS, but was a satin finish.
Owner hurt the freshness of his coin and tied one arm behind Ian’s back by deciding to list this coin for sale at starting bid of $4,800 and not trust the “GC machine” to get to the proper price for the coin. A couple of weeks ago, the (fairly similar) 1986-D 1C MS69 fetched $3,605 hammer. But, this 1987-P (with what appears to be a bothersome tiny carbon spot on the obverse rim) is a pop 4 vs. the 86-D being pop 5. Seems like the coin would have likely achieved similar money with an opening bid of $1 and owner would have had a much lesser tax burden concern (lol).
If owner still wants to let it go, I’m a buyer of the coin at the right (fair) price today (as I try to buy almost any business strike modern coin offered to me worth over $1,000) and if the owner wants to sell it tomorrow, just advise Ian and I will try to buy it directly through Ian so he captures his full commission.
As always, just my 2 cents.
Wondercoin
Please visit my website at www.wondercoins.com and my ebay auctions under my user name www.wondercoin.com.
It's not my coin and I'm not certain how much emotional attachment the owner has for the piece. However, it appears the owner has a fairly high level of emotional attachment to it, but I would suggest to take Mitch (@wondercoin) up on his offer and at least enter into dialogue with him. This may become a painless and quick transaction that might leave a few dollars on the table, but that should make up for that in its convenience.
And, in reading more carefully through everything, before the auction even ended, it appears the owner may have publicly predicted it would not sell at his price, which surely might have caused anyone that was "on the fence" not to bid (he was discussing his plans after the auction when it didn't sell, and then said he was going to offer it around coin shows etc.)
While I wish coins like this would have a wholesale market around a coin show, I don't think there's any chance of there being a solid wholesale buyer at a given show. But, I understand if that is how the owner would like to see this through from here.
Wondercoin
Please visit my website at www.wondercoins.com and my ebay auctions under my user name www.wondercoin.com.
I am not a fan of roller marks or small dark spots. There is a small dark spot to the left of the L in LIBERTY. I have seen them grow on nickels after a few years.
Where's Andy Hansen when you need him?
He bought both the 86P & 86-D PCGS MS69RD Lincolns earlier this Fall for much more money and he needs this date also for his registry set.
Comments
Actually, you can.
But since moderns aren't eligible, they have approximately 0% chance of stickering.
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
Yes.... but.... you have a 0% chance of being charged a fee.
And you have a 100% chance of being charged for postage.
I was thinking walk thru.
Thus / gas & time. Yes.
Lol. And people accuse me of nit-picking...
Lol. And people accuse me of nit-picking...
And padding your post count.
+1
Between the the three mentioned, I would say GC. @ianrussell does not throw as large of a lasso, being more specialized than the other two. Coins and paper are a small and smaller part of the other two mentioned. IMO.
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...
Just because an auction house (also) conducts sales in categories other than “coins and paper”, doesn’t mean it’s not the largest auctioneer of rare coins and currency.
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
I'd be tempted to keep it along with all those others and start my own PCGS Registry!
peacockcoins
I'd definitely take the money and run. Buy an MS-67 for less than 1%.
I think David disappeared
Last Active September 30, 2022 12:14PM
Calling David!!!!
Mike
My Indians
Danco Set
jkrk said what?
You never know what you said until you read it in print? LOL
I apologize for that. I have no idea how it happened, as I thought I hit “Quote” at the bottom of the original post from oih82w8, which I have copied below.
oih82w8 Posts: 11,026 ✭✭✭✭✭ October 5, 2022 4:41PM
Between the the three mentioned, I would say GC. @ianrussell does not throw as large of a lasso, being more specialized than the other two. Coins and paper are a small and smaller part of the other two mentioned. IMO.
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
Oh, don't be such a homer
Thank you for all of your feedback! As crazy as this may sound, but I really love the coin so I’ve been admiring it over the last couple of days ❤️. It just arrived in the mail from PCGS, and when I held it in my hand I was like ‘wow’…
As much as I wish I could keep it, I need the money for college so I’m going to figure out a plan soon…I’m thinking the easiest path might be to go to the GC, especially since I don’t have any experience selling or negotiating coin deals, etc.
The coin has inspired me to ‘keep digging’ and I’ve found a couple more coins that I really like a lot, so I’m going to send those off to be graded soon so I hope to find another really good coin soon. ❤️
Thank you for the note about the tax bill, that’s something I didn’t think about…maybe I should start an LLC for my coin hobby? I’m only trying to save money for university, I’m not sure how many years I’ll be dealing with coins, but for tax reasons maybe starting an LLC is smarter avenue (?)
Not necessary to form an LLC just to sell a handful of coins. Don’t overthink things. Give the coin(s) to an auction house and basically sit back and wait for the check.
It is going to be very difficult to repeat this situation where you located a top pop (and low pop) coin with such a small sample of sets. There are people that look through and submit tens of thousands of mint set / proof set coins to obtain top pops. That’s where the LLC might come into play.
Probably best to consult with your accountant or tax advisor. If this sells for what people think it would appear you will have a significant tax gain event. Tax rates on collectibles are something don’t consider.
Successful BST with BustDMs , Pnies20, lkeigwin, pursuitofliberty, Bullsitter, felinfoel, SPalladino (CBH's - 35 Die Marriage's)
$5 Type Set https://www.pcgs.com/setregistry/u-s-coins/type-sets/half-eagle-type-set-circulation-strikes-1795-1929/album/344192
CBH Set https://www.pcgs.com/setregistry/everyman-collections/everyman-half-dollars/everyman-capped-bust-half-dollars-1807-1839/album/345572
I agree. I definitely got lucky…I’m new to coins, I started because I inherited a box of coins, which included mint sets…
Hopefully they’ll be some more juicy ones in there, but you’re right, most likely this coin is my lucky penny 😍 🍀
Thank you for all of your help and feedback! I went ahead and sent the pennies to Great Collections, they seem to care a lot about helping coins find the right homes. I took a lot of photos of the penny before I shipped it, I will always remember it as my first great find 🥰❤️. I hope it finds a loving home, someone who will cherish it in their collection for years to come. Thank you for your insight and guidance
Thank you David. Appreciate your business.
Owner/Founder GreatCollections
GreatCollections Coin Auctions - Certified Coin Auctions Every Week - Rare Coins & Coin Values
Wouldn't it be awesome if D.L. Hansen bought it to replace his MS68!?
."It's a dangerous business... going out your door. You step onto the road, and if you don't keep your feet, there's no knowing where you might be swept off to" -JRR Tolkien_________________________________________________________________________________________________________________________________________Outstanding BST transactions as a seller, buyer and trader with: ----- mustanggt, Kliao, claudewill87, MWallace, paesan, mpbuck82, moursund, basetsb, lordmarcovan, JWP, Coin hunter 4, COINS MAKE CENTS, PerryHall, Aspie_Rocco, Braddick, DBSTrader2, SanctionII, Histman, The_Dinosaur_Man, jesbroken, CentSearcher ------ANA Member #3214817
I’m getting the sense that you did not hand GC the coins at the Long Beach show? Thought I read in this post you live somewhere near L.A., so I’m hoping you drove over to GC’s office and hand delivered them? Can’t imagine you took the chance of mailing that valuable coin when you’ve been given so many opportunities to avoid that step.
@1madman said:
Thankfully the coin made it safely to Great Collections
Honestly I didn't even think about potential problems with the mail, I'm new to coins so that didn't occur to me. I live in Southern California but not that close to Long Beach so it was a little bit of a haul to make it there and unfortunately I couldn't make it work on short notice. I sent the package by Fed Ex, I'm not sure if that was wise or not, but next time I have a valuable coin I can probably figure out a way to hand deliver it to GC, since I live in So Cal...
Thanks for the heads up about potential mail issues, thankfully everything worked out this time but I will hand deliver next time for sure ❤️
having private insurance or registered usps is probably the top 2 recommendations. i think the one where you tape all the seams and/or whole box is called registered. expensive, slow but supposedly the best, especially if claims have to be made.
it is best to be able to have proof of your item(s) and their potential values. so take pics of the items, forms, boxes, everything JUST on the off chance, especially because the camera phones are of such high quality, even for older generations. people have struggled with claims trying to prove the value of their items BEFORE they get to the grading services. after isn't quite so hard, usually.
In the future, I strongly advise against using FedEx for valuables unless you have private insurance.
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
I agree. The FedEx service guide explicitly states that FedEx DOES NOT provide insurance coverage.
What I found interesting is I had two watches recently serviced by Rolex and was amazed they both were delivered to me next day from Texas. In checking further I learned:
"FedEx Declared Value Advantage is only available for reoccurring high-value jewelry shipping. One-time jewelry or other high-value commodity shipping needs are not eligible for this service.
The FedEx Declared Value Advantage service gives eligible shippers the opportunity to declare values up to USD $100,000 per domestic shipments and up to $25,000 to select international destinations on specialty items like jewelry, gemstones and precious metals versus the standard maximum declared value of USD $1,000.00. FedEx Declared Value Advantage provides coverage throughout the US and to select international locations.
To determine if you are eligible for this program, please complete the application below and a Declare Value Advantage Representative will contact you."
Has Heritage ever approached FedEx about participating in this program?
Sorry, I don’t know.
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
Why not shop it around bourse at show?
If the penny doesn't sell in the Great Collections auction, I might do that...take it to shows 🤔
Im thinking about holding on to it for a little lol...I have mixed feelings about letting it go anyway
This is an auction coin.
Unless you are taking it to FUN or the ANA, most bourse dealers would probably have little interest except on speculation, i.e., lowball offers.
You may consider a direct offer to a dealer who specializes in high end modern cents.
I hope you get a bid, but I am concerned that you placed your reserve too high in the auction.
There is no auction data for an MS69RD, but the auction data for an MS68RD shows this to be a $100 coin. I realize the reserve is set to reflect the PCGS price guide, but that is a guess, too. The reserve of $4,800 plus either 10% or 12.5% BP (depending upon method of payment) would yield a final purchase price of $5,280-$5,400 for the winner. Also, the GC images show what appears to be a new spot on the obverse under the TY of LIBERTY that is not shown in the TrueView images. This might make folks give pause since this is a newly certified coin. I realize it might not be a spot, but who wants to drop $5k to find out?
I also agree that unless you know where to go that this is likely not a "shop around the bourse floor" kind of coin, but you may get lucky if you do so. Good luck!
In honor of the memory of Cpl. Michael E. Thompson
Edit Okay now I see a thread about it. Never Mind!
Just now when I clicked on the coinfacts link I got the below. It was working 40 minutes ago.
Update it change to the 2nd one below.
https://youtube.com/watch?v=2YNufnS_kf4 - Mama I'm coming home ...................................................................................................................................................................... RLJ 1958 - 2023
Thanks for the feedback! If the coin doesn't sell, I'll take another look at it to see if that's a new spot or not on the coin (hopefully it isn't!)
In regards to pricing, there's a mountain of difference between a 68 and a 69 coin, you can't even really compare those two grades, they're not in the same league.
The minimum reserve may seem high, but there are only 4 1987 pennies ever graded by PCGS at 69 -- ever -- so I don't mind waiting for the penny to find the right home.
You're absolutely correct, this penny isn't for the average collector, it's for elite collectors, it may take an couple of auctions before they realize this penny is out in the world. I don't mind being patient, it's a fair price for a coin with only 4 ever graded ❤️
eBay
Oh, don't be such a homer> @Davidcoins said:
You're not really objective.
Reading your thoughts above, I wish you the best of luck.
GC was a good choice.
A nice grade....but the Coin itself I find very unappealing. The die polish marks on the fields are very distracting. Oh...and I owned a MS70 RD 2006 , labeled as MS, but was a satin finish.
I made two 2006 SP70s today, ironically.
Almost as interesting as the coin is the Cert number. It adds a little coolness to an already cool coin. You don’t see many 4 number repeaters.
- Bob -
"Central Valley" Roosevelts
MPL's - Lincolns of Color
My comments AFTER the auction…
Owner hurt the freshness of his coin and tied one arm behind Ian’s back by deciding to list this coin for sale at starting bid of $4,800 and not trust the “GC machine” to get to the proper price for the coin. A couple of weeks ago, the (fairly similar) 1986-D 1C MS69 fetched $3,605 hammer. But, this 1987-P (with what appears to be a bothersome tiny carbon spot on the obverse rim) is a pop 4 vs. the 86-D being pop 5. Seems like the coin would have likely achieved similar money with an opening bid of $1 and owner would have had a much lesser tax burden concern (lol).
If owner still wants to let it go, I’m a buyer of the coin at the right (fair) price today (as I try to buy almost any business strike modern coin offered to me worth over $1,000) and if the owner wants to sell it tomorrow, just advise Ian and I will try to buy it directly through Ian so he captures his full commission.
As always, just my 2 cents.
Wondercoin
It's not my coin and I'm not certain how much emotional attachment the owner has for the piece. However, it appears the owner has a fairly high level of emotional attachment to it, but I would suggest to take Mitch (@wondercoin) up on his offer and at least enter into dialogue with him. This may become a painless and quick transaction that might leave a few dollars on the table, but that should make up for that in its convenience.
Good luck to both parties.
In honor of the memory of Cpl. Michael E. Thompson
Thanks Tom.
And, in reading more carefully through everything, before the auction even ended, it appears the owner may have publicly predicted it would not sell at his price, which surely might have caused anyone that was "on the fence" not to bid (he was discussing his plans after the auction when it didn't sell, and then said he was going to offer it around coin shows etc.)
While I wish coins like this would have a wholesale market around a coin show, I don't think there's any chance of there being a solid wholesale buyer at a given show. But, I understand if that is how the owner would like to see this through from here.
Wondercoin
What an interesting coin. I just blew up the TruView.
https://pcgs.com/cert/45434543
I am not a fan of roller marks or small dark spots. There is a small dark spot to the left of the L in LIBERTY. I have seen them grow on nickels after a few years.
Where's Andy Hansen when you need him?
He bought both the 86P & 86-D PCGS MS69RD Lincolns earlier this Fall for much more money and he needs this date also for his registry set.
Cuprinkor: Maybe he watched $12,000 drop to $4,000 in 60 days on that very date and “saw the light”. 😉
Davewesen: that was my spot on rim comment.
Wondercoin