Options
Determining Value - 1951 Lincoln 1C Wheat Coin (PCGS Graded as PR67RB)
E_Pluribus_Unum
Posts: 7 ✭
I have a 1951 Lincoln 1C Wheat Coin which has been graded by PCGS as PR67RB. According to the POP report, there are only 7 at this grade, and none with a higher grade. The value guide doesn't state a value for the coin at this grade. It does, however, show values for similar coins at a lower grade. So how do I go about ascertaining the value for this coin?
0
Comments
is it one of the 3 shown on this page?
https://www.pcgs.com/coinfacts/coin/1951-1c-rb/3361
is it this one?
https://www.pcgs.com/cert/55409156
Doesn’t look like it. Hard to be certain without seeing the PCGS Number. Mine is PCGS Number 55409156.
Yes, that is the one
https://www.ebay.com/itm/176958707537
the ebay auction was a true auction and not a buy it now. a buy it now masks how many fight fpr it and how hard. a BIN could be someone wanting it quick at any price.
as a true auction, with 9 bidders, it's value is just what it sold for on ebay
That is the one. Trying to determine actual value.
someone else who comes along can discuss what it might sell for if it had better pictures showing its colors
Seems pretty straightforward with a just completed ebay auction and multiple bidders. I'm guessing you believe you might have made an impressive score?
In honor of the memory of Cpl. Michael E. Thompson
Just trying to determine how to get an accurate assessment of the coins actual value, since it’s not in the value guide. Have to assume the value would be greater than the same coin with a lower grade.
i asked about the 3 coins on the first link from coinfacts. those have great color. enough people would pay more than one without color
speaking of without color, looking at the reverse, yours looks like a RD coin that was given the RB because of the color on the obverse.
the color does not seem as spectacular as those 3 coins. just because of the lack of brilliant color the RB designation may hold the value back since i'd expect people would pass on it because it is labeled RB. I think people would rather have either a nice 67RD over a 67RB; or, a 67RB with eye dazzling color
there was a BIN on ebay for a 67RD at 156.95 all-in. i'd expect yours to sell for less than that
as mentioned in one of my earlier replies, yours went to an auction with 9 bidders and ended at $71.55 - I'd say that is the value
also, it may be a 67 with none better, it is still a RB not a RD. to be blunt, it won't matter to anyone that a RB coin is top graded when RD are available in the same 67 grade and all the way up to 1 in 69RD.
The realized price does seem a little low. And clearly the RB makes a major difference.
For the record Greysheet for a 1951 Lincoln in PR67RD is $140.
If a 67RD is $140, I don't see how $70 for a RB seems low. There is a huge difference between RB and RD in the market.
I agree. When a coin is RB because it has spectacular color, RD vs RB may be a moot point. When a coin is RB because it’s just not fully red, the value reflects that. And it’s all the more important for a series where red is common. Outside of toning, a 1950s proof cent isn’t a coin I’d expect to see not red.
Do collectors of proof Lincolns really want RB coins unless the toning is especially attractive? No "sticker". The $70 being mentioned in another response to this thread sounds high to me.
This makes no sense to me. A 1951 RB in PR66 is listed in the value guide at $115. So why would the exact coin at the higher PR67 grade be valued for less?
The problem is that none have been sold at auction other than the EBay auction cited, and that sale value has not made its way to PCGS to include in its pricing. If that information makes it to PCGS they would likely correct down the RB PF66 price. A PR67RD sold at GC in October for $118 (https://www.greatcollections.com/Coin/1679943/1951-Lincoln-Cent-PCGS-Proof-67-RD), which validates the EBay sale price IMO.
There are two problems here. First, you are equating the pride guide with the coin’s actual value. The PCGS guide can be useful for relative values between different dates and grades, but the actual values can be way off, and much more likely they’re overpriced in the guide. Second, if the price history for the grade is limited and the majority of coins sold had a quality (toning) that raised the price, then the guide will reflect that even if your coin doesn’t fit. There are so many white Morgans in MS65 that the toned ones won’t affect a price guide. But there are so few RB Lincolns (because most are red) that it’s not a poor assumption to think that a critical mass of RB coins have a quality beyond the label raising the price.
Eye appeal is especially important in the case of RB and BN coins. In most cases a coin with color and great eye appeal will bring in a higher premium than one graded higher with less than pleasing eye appeal. The eBay photos of the PR67RB did the coin no favors.
- Bob -
MPL's - Lincolns of Color
Central Valley Roosevelts
All of that is true. However, while there are exceptions, in the large majority of cases, RB copper coins bring less than their RD counterparts. And even in RD, that date and grade doesn’t bring a lot of money. So I don’t see a lot of upside for the subject coin.
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
Congrats on your new purchase. The value is as much as you can get for it when it sells. You can list it for $200 and it might sell sometime in the next 20 years.
PCGS price guide is an estimate and I would guess less than 10% of eBay completed PCGS slabbed coin sales are OVER what the price guide estimates. What many have said, eye appeal and attractive toning is what adds to sale prices or rare variety not designated.
The eBay images are poor. You don't need any type of professional set-up to can take photos far better than this auction displays. From a seller with over 20,000 positive feedbacks that is not acceptable imo.
ebay.com+1951+pcgs+pr67rb
Great Collections has a beautiful 1951 1c in NGC PR67RD ending Sunday, 04/13, if you want to check out where it ends: greatcollections.com/1951-Lincoln-Cent-NGC-Proof-67-RD
It probably won't go much over $100. As noted above Greysheet is $140 for this GC piece.
Be sure to check for the DDO for that proof year .
varietyvista.com/01a%20LC%20Doubled%20Dies%20Vol%201/1951PDDO001.htm
price guides are not updated like they need to be. in short they can be way off and even up to unbelievably way off
E_P_U - read this thread from top to bottom
https://forums.collectors.com/discussion/1112362/a-breather-from-all-the-gtg-threads-how-about-a-gtpg-guess-the-price-guide-exercise
RB and BN proof Lincolns that have gorgeous toning will often bring higher prices than similar coins that are untoned with a RD designation. Some collectors just like pretty colors on their coins.
I have a 1951 PF65RB toned cent that is toned. I have no clue what it's market value is.
Here is the True View photo of that coin (which does not show the coin very well)
Here are photos of the same coin taken by FlyingAl last fall (I like his photos better than the True View photo, but in hand the coin is much more attractive/eye appealing [to me] than it appears to be in FlyingAl's photos).
Here is a True View photo of a 1951 PF67RD cent.
Which coin (my PF65RD, or the PF67RD) shown above do you find more attractive and eye appealing.