1963 PR70DC PCGS Lincoln cent - Auction
Cameo CC
Posts: 663 ✭
Wow! This coin is at $36,000 today (1/7/04) - With the fees $40,250.00 - Not bad for a one year investment. Wow - dropped as of 4PM EST.
Here is the link
Looks like the maket is strong (or not so).
Todd
Here is the link
Looks like the maket is strong (or not so).
Todd
Todd Abbey
800.954.0270
800.954.0270
0
Comments
New collectors, please educate yourself before spending money on coins; there are people who believe that using numismatic knowledge to rip the naïve is what this hobby is all about.
or do you mean "the market for a specific 1963 penny in a specific piece of plastic" is strong?
K S
It is strong for this coin. As for the rest of the coin industry, we will know more on Monday after the Fun Show.
What this does tell me is that someone or a group of people are coming into the modern market in a strong way.
Todd
800.954.0270
I honestly don't believe the gavel will fall on this DAWG and should be pulled for the obvious reasons in previous posts!
NEVER LET HIPPO MOUTH OVERLOAD HUMMINGBIRD BUTT!!!
WORK HARDER!!!!
Millions on WELFARE depend on you!
I would hate to think the market is determined by spotted proof coins.
<< <i>They have added the images showing just how bad this coin is now. Before, it looked fine and nothing wrong is denoted in the description. I wonder what the high bidder thinks now? >>
They added that image nine days ago, (12.29.03), when the coin was at $28,750.00 so apparently the high bidder thinks it looks just fine.
<< <i>I would agree it's strong for 1963 PCGS PR70DC Lincolns! >>
"Strong" isn't exactly the word that pops in to my head. More like insane.
Russ, NCNE
PCGS could have given this a 69 on any other day.
Perhaps the worst case of buying the plastic EVER.
Modern coins suck.
<< <i>Modern coins suck. >>
Yeah, they do. And, this single example sure proves it.
Russ, NCNE
Dave
<< <i>Who said "There's a sucker born every minute...." ? I think it applies here. >>
Somebody said it about a year ago when the consignor of this coin purchased it for $39,100.
Russ, NCNE
<< <i>Who said "There's a sucker born every minute...." ? >>
Mrs. P.T. Barnum - the inventor of the baby bottle.
Russ, NCNE
Or NGC..... maybe they're fighting it out against each other!
It could also be a couple of kooks with giant pocketbooks and wacky egos
or...
maybe some nutbags who have no intention of ponying up when it commes to writing the check!
Warped minds think alike!
<< <i>Posting statements about moderns like that is like calling cladking on the batphone. >>
or you could just use this:
If I were running PCGS, this coin would be bought back. It would be very cheap PR in both directions. First, it gets it off the market so that the possibility of another public round of "hey look at this overgraded PCGS POS!" is eliminated. Second, they then announce that - at great expense - they stood behind their product.
Russ,, NCNE
Now if you can just get the right piece of plastic wrapped around it...
2 Cam-Slams!
1 Russ POTD!
About $15
2 Cam-Slams!
1 Russ POTD!
The real question is have the modern coins out performed the more traditional coins?
Todd
800.954.0270
What is your buy price for a 1963 PR69DCAM Lincoln?
The best litmus test for something like this is to ask "what are the odds they'll crack it out?". In this case the answer is 0%, making this auction 100% absurd.
2 Cam-Slams!
1 Russ POTD!
Good point - What the market will bear?
Todd
800.954.0270
Why do you need to specialize in the modern coin market to understand this coin. I love people who "have" to defend a price paid for an insert to justify their place in the market.
Even if that coin changed while in the holder, it can no longer be classified as "perfect".
Whether I agree or disagree with prices modern coins are bringing, I think this coin is giving modern coins a bad name.
<< <i>I sense some people do not think this coin is worth this price. I disagree. >>
Todd,
You're kidding right? That's just designed to stimulate debate, isn't it?
Russ, NCNE
<< <i>Actually, they sucked long before this single example came about.... >>
Yeah, they even sucked in 1793, 1804, 1837, 1916, 1932 etc
Hey Brian, the BIG distinction in this case is that there are over 3,000,000 Lincoln cents in this proof year....
Make sense to you now?
<< <i>Hey Brian, the BIG distinction in this case is that there are over 3,000,000 Lincoln cents in this proof year... >>
Good thing there aren't any Morgan dollars with a mintage over 3 million that sell for ludicrous money because they have a high grade on the holder and some pretty colors.
Russ, NCNE
Let's see, rainbow toned Morgan dollars or really high grade proof pocket change.... Boy that really is a toss up. I'm gonna have to think about that one some more and get back to you.
<< <i>Good thing there aren't any Morgan dollars with a mintage over 3 million that sell for ludicrous money because they have a high grade on the holder and some pretty colors. >>
<< <i>Good thing there aren't any Morgan dollars with a mintage over 3 million that sell for ludicrous money because they have a high grade on the holder and some pretty colors.
Russ, NCNE >>
Whew, I'm relieved about that.
Is my browser not reading it right?
<< <i>Sheesh Russ, so sensitive. >>
Sensitive? Don't flatter yourself. I think the amount of money this Lincoln is bringing is ridiculous. But I think it is equally ridiculous to condemn an entire class of coins, ("moderns suck"), and collectors simply because it isn't something you like.
Russ, NCNE
<< <i>The beginning of this thread says its selling for $51,000.00 When clicking on the link the page shows me its selling for $36,000.00?? >>
I'll be damned! It just dropped to $35,000.00 - $40,250.00 with the juice.
Russ, NCNE
Russ, NCNE
<< <i>The real question is have the modern coins out performed the more traditional coins? >>
No, the real question is whether there has emerged among collectors of modern coins a paradigm that is significantly different than the market forces affecting older coins, such that a top pop common date coin having a mintage of 3,000,000 (with virtually no attrition since it is a proof) can sell for the same money as a condition sensus 1794 half dollar.
CG
Edited to add: a huge spike in the price of coins one grade lower than unique top pop coins, when there are many examples in the lower grade, would be more indicative of price performance of the series as a whole.
However, that does not change my opinion. And while I did "condemn an entire class of coins" as you wrote, I did NOT condemn "collectors" of these coins. Certainly we can all collect what we like best. Indeed, if someone tells me that "toned Morgans suck!" I will not feel as if that person has just condemned all toned Morgan collectors.
So you see, you really are sensitive about this.
Still, pocket change really does suck.
I wonder if it's a good investment now?
You could buy it at the new lower price and claim it's worth $51,000 and sell it back to PCGS.
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