Stack’s Bowers to sell the Omega One Cent coins and 24k gold Lincoln cents
Mr_Colombo
Posts: 77 ✭✭✭
There are going to be 232 three-coin sets available, including a 24k gold Lincoln cent. Popcorn bucket ready for the auction in December.
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It will be interesting to see what range these go for. Any guess? I’m thinking 25k each set?
@ScarsdaleCoin Spot on! I'm assuming Stacks will have these graded and IMO the top pop sets will reach 20-25k. Will be interesting to see the grades with their respective auction hammer prices.
I think they will go for multiples of that.
Edit: I guess environmental damage will not be designated by PCGS for the fingerprints clearly shown in early press. I wonder how many will slowly (or quickly) turn in holder to RB due to the oils in people's skin getting on the coins. How difficult is it to have someone at the mint with minimal numismatic knowledge anyway? Ugh
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I would guess higher than $25k each.
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I’d put my money on “zero”, since fingerprints do not translate to an environmental details grade.
Nothing is as expensive as free money.
How did we go from 5 pennies to 232 three coin sets?
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I guess they learned their lesson.
I'll be the first to predict $100K+
A lot more than I would be willing to pay if I were still actively buying.
The gold cent is intriguing.
They won't sell for 100K avg but down the road maybe.
Can someone educate me ... does the mint own these sets now and thus the proceeds so back to the Mint?
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I suspect StacksBowers talked with them about maximizing sales total. Didn't they auction a limited number of something a couple years ago?
I live here in Philly and I would've been glad to have brought over my white gloves and held those cents, had they asked me.
So is the 232 to commemorate the first year the Philly Mint produced the penny, 1793?
I believe it's to commemorate the 232 years the penny was minted.
Flowing Hair High Relief Gold Coins in 2024. The first coin included the cancelled dies and sold for $440K. The average selling price of 45 PR69 examples in the auction was $28K. Total sales of the 230 coins was $8,236,000. Someone who just had to have #230 of 230 -- a PF70 -- paid $90K !
Source: https://stacksbowers.com/sbpressreleases/stacks-bowers-galleries-to-sell-the-very-last-omega-pennies-at-auction-including-the-24-karat-gold-penny-sold-on-behalf-of-the-united-states-mint/
Seems like 50-60K per set should be about right. Figuring any Lincoln with a mintage of 232 pieces has to be cheap at 10K, and the gold piece has to be worth at least double what the red ones will bring. I’m not playing because it seems like we’re going to be getting more and more of these fabricated rarities, and I don’t think that will help the market for the earlier issues. But at the right discount to my numbers, well, I suppose I’d have to jump in.
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Got it, if you exclude the Fugio Cent as the first penny, which was minted in 1787.
They should have done a regular run of gold without the Omega sign for the "poor" buyers.
The mint is starting to produce Dan Carr mintage level coins.
The gold flowing hairs with similar mintage brought pretty much $25k or more in PR69 & PR70. These cents will probably be MS67-MS69. I would like to think they would go less than $25k although there are 3 coins not 1 but the cent probably has a bigger collector base. Hmmmmm.
Edited to add:
Any speculation on the PCGS slabbing - will it be a 3-coin multi holder?
http://ProofCollection.Net
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I expect that these would be "conserved" prior to placement in holders.
I certainly would, because that will mitigate future finger-print toning.
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maybe they can make some regular gold proof ones to celebrate the countries 250th
hmmmm... on a plain one, turn the copper to brass and we might have someone asking if it is gold
I think at least $400 K per set.
An authorized PCGS dealer, and a contributor to the Red Book.
And I will actually be shocked if those coins that were manhandled in Philly in front of the cameras last week are part of this 232, given that they are now offering Ps, Ds and gold, while all they made last week were a handful of Ps. The 232 were all likely made separately, months ago, and handled with the care something that is going to auctioned for mucho bucks deserves.
If I'm right, while everything at auction will be 69 and 70 with no conservation, as someone paying up for those sets would expect, it will also mean none of them are actually the last coins made in that ceremony for the cameras last week, regardless of any official certification to the contrary.
gold in all 232?
~30k avg then 250k for the last with the cancelled dis
Nope. Based on one canceled Gold FH die going for $440K, 3 canceled cent dies will surely go for more than $500K.
Also, based on 230 Gold FH coins going for more than $30K on average for a single coin, albeit one with an ounce of gold, it is likely that each Lincoln 3 coin set will go for more than that. Likely $50K+.
People here constantly commit the sin of looking at things like this through their personal lens when pontificating how much things like this will sell for, ignoring empirical evidence that doesn't line up with value as they see it.
I'd never spend what these things are going to go for. But what they are going to go for is not a mystery, given the data set we have from a mere year ago, and then how those coins did in the secondary market.
"Conserved" just means a dip before slabbing. That is a service TPGs provide
All comments reflect the opinion of the author, even when irrefutably accurate.
The last coin is whichever one the mint declares it to be. They may have to waffle the one with the fingerprints and use number two instead.
At least a San Francisco complete set will still be doable.
My guess:
Lot 232 with the canceled dies: $1,000,000
Lot # 1: $60,000
MS70 Lots: $40 - 50K
MS69 Lots: $18 - 25K
Has it been confirmed as to whether they will be graded?
I haven’t seen the press photos, but do we know that the person was holding one of the actual coins (as opposed to a prop)?
Either way, you are correct. It sends the wrong message.
I am not a fan. What if they decide to start making pennies again in the future? Won't that hurt the value of these
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There I fixed it.
http://ProofCollection.Net
But aren't these going to be the last 232 made? How could they have been made months ago?
Because they stopped making cents months ago. They are no longer being distributed to banks.
What they did last week was nothing more than a photo op. And apparently did not even include the coins they are auctioning, given that they made a big deal about striking 5 in Philly, while the auction is of 232 struck in both Philly and Denver. Not to mention the fact that the video showed the coins being handled with bare hands, and getting fingerprints all over them.
Is that a service they provide for every newly minted coin, even when there is no damage, such as fingerprints? If not, that's not what we were talking about. And, if so, it's not really "conserving." It's just part of "slabbing."
But thanks for jumping in, finding fault with anything and everything I post, and providing a valuable education.
We can only guess, but it was not just a photo op done to get press for the mint, it was done to bring in more money for the casino they run. The mint seems to have a clever employee now that is coming up with ways to monetize coins for them, and this is one of them. Why let such an opportunity pass us by?
If these are the only gold lincoln cents to be struck, they will be historically low as a type coin. They would end up number three in the history of the mint for mint state coins. If later gold lincolns are struck, they might diminish the value of these, although I doubt the mint won't consider it as a way for easy money.
Yes they will be graded by PCGS.
CAC will *approve and **sticker the sets as well.
*according to Stack's Bowers
**(imo)
I’m a little surprised that these will be graded and sent to CAC prior to being offered to the public. In this rare instance I would think that many, especially non-collectors, would prefer the fancy boxed sets that the mint has used. Perhaps PCGS will prepare a special triple holder. I guess registry considerations (or $$) have driven this decision. I see no real value otherwise in going through the grading and stickering process prior to offering them. The aftermarket can certainly provide the grading and stickering service appealing to those who want same, and would provide more flexibility for consumers who would prefer other choices.
Will make the auction more interesting if there are different combinations of grades among the lots, i.e. (70 70 70), (70 70 69) (70, 69, 70)...
Agree, a matched set would be ideal if I were to go for a set.
How about a 'stickered' set vs a non-stickered set?
Stack's has PMG
But CAC (not CMG) was mentioned in their statement.
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
Stickers? What is a sticker going to prove? They aren't throwing them into a bin or running them through a counting machine are they? Whatever.
Stack's has CMQ and is "in house", and could convey a conflict of interest if involved?
CMQ is not as influential as CAC at this time.
As far as a motivation to include CAC to 'approve' the PCGS grades & quality of the coins?
I'll defer you to Stack's, PCGS, and the USM for their reasoning to include CAC with this offering.