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Message from Sadler's Lincolns
Lincolneye
Posts: 3
I wish I could have gotten on this sight to share a few thoughts with all of you Lincoln collectors while the hoopla over the FUN sale was still fresh in everyone's memory. I'll try to answer a few of the questions you all have been asking.
First let me say I had an absolutely fantastic time collecting these coins and meeting several of you along the way. I traveled quite a bit to search out the very best coins I could afford. Why did I sell? Well, I found myself looking at my coins less and less. Once I added the last coin, the hunt was over. I did want to put in a few upgrades along the way, but with a family, spending another $2000-$5000 was a bit of a stretch for me. Like a good collector friend mentioned to me..."Once you've climbed the mountain, you don't need to stand at the top forever. You can climb down and climb another mountain or revisit the one you already climbed another day." Additionally, I felt the market was reaching a high point. Sure, I think there is still some room, but I didn't feel I had to sell at the very top. Think of your high tech stocks.
As for upgrades, I did send in a few coins with no luck. I won't mention which ones, however. A few came back in higher grades, but those were mostly matte proofs; coins I kept to sell another day. I felt I could get stronger money for my coins if I kept them in the older green holders so the buyer might be willing to reach out a little bit with the hope of a higher grade. I really do othink there might be a few upgrades in there. Good luck to those who get a few.
As for the auction, I was very pleased. My closest friends were there to cheer me on along with my wife who put up with my spending and long "coin conversations" while I was putting this set together.
So what do I think of the coins. First let me say the whole set sold without any reserves. The only two coins I even thought about reserving were the 1909-S and the 1940-S. Those two were beauties. If I were going to keep any two coins, it would have been those two. I took my chances with this, but I knew the quality would speak for the coins and there were going to be no bargain prices.
A few other notable pieces were the 1910. That coin was magnificent. Congrats to whoever got that one. The 1911-S, 1915-P, 1916-D, 1918-D, 1921, 1924 were all very nice. The 1925-D was perhaps the finest one around. I don't know what Stuart's looks like, but I can't imagine it looked any nicer than that. I was surprised the 1926-S didn't sell for more money along with the 1931-S. Many of you missed that one (31-S). I think Stewart Blay got that coin and he got a bargain. Whether that coin ever upgrades, I don't know, but I'm sure it will replace his current 1931-S. I really expected that coin to sell at $15,000. You all missed that coin.
I do appreciate the strong bidding. Trust me, I did a lot of leg work for you winning bidders. Those coins were all very patiently chosen from shows and dealers around the country. I do apologize for not deleting the coins from the registry in a timely manner. It just wasn't something I had on my radar screen Sorry for the inconvenience.
I'll see everyone around at the shows.. I'm still collecting, but have shifted my attention to other coins...Mike Sadler
First let me say I had an absolutely fantastic time collecting these coins and meeting several of you along the way. I traveled quite a bit to search out the very best coins I could afford. Why did I sell? Well, I found myself looking at my coins less and less. Once I added the last coin, the hunt was over. I did want to put in a few upgrades along the way, but with a family, spending another $2000-$5000 was a bit of a stretch for me. Like a good collector friend mentioned to me..."Once you've climbed the mountain, you don't need to stand at the top forever. You can climb down and climb another mountain or revisit the one you already climbed another day." Additionally, I felt the market was reaching a high point. Sure, I think there is still some room, but I didn't feel I had to sell at the very top. Think of your high tech stocks.
As for upgrades, I did send in a few coins with no luck. I won't mention which ones, however. A few came back in higher grades, but those were mostly matte proofs; coins I kept to sell another day. I felt I could get stronger money for my coins if I kept them in the older green holders so the buyer might be willing to reach out a little bit with the hope of a higher grade. I really do othink there might be a few upgrades in there. Good luck to those who get a few.
As for the auction, I was very pleased. My closest friends were there to cheer me on along with my wife who put up with my spending and long "coin conversations" while I was putting this set together.
So what do I think of the coins. First let me say the whole set sold without any reserves. The only two coins I even thought about reserving were the 1909-S and the 1940-S. Those two were beauties. If I were going to keep any two coins, it would have been those two. I took my chances with this, but I knew the quality would speak for the coins and there were going to be no bargain prices.
A few other notable pieces were the 1910. That coin was magnificent. Congrats to whoever got that one. The 1911-S, 1915-P, 1916-D, 1918-D, 1921, 1924 were all very nice. The 1925-D was perhaps the finest one around. I don't know what Stuart's looks like, but I can't imagine it looked any nicer than that. I was surprised the 1926-S didn't sell for more money along with the 1931-S. Many of you missed that one (31-S). I think Stewart Blay got that coin and he got a bargain. Whether that coin ever upgrades, I don't know, but I'm sure it will replace his current 1931-S. I really expected that coin to sell at $15,000. You all missed that coin.
I do appreciate the strong bidding. Trust me, I did a lot of leg work for you winning bidders. Those coins were all very patiently chosen from shows and dealers around the country. I do apologize for not deleting the coins from the registry in a timely manner. It just wasn't something I had on my radar screen Sorry for the inconvenience.
I'll see everyone around at the shows.. I'm still collecting, but have shifted my attention to other coins...Mike Sadler
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Comments
Here's a warning parable for coin collectors...
From a collector's point of view, isn't that just a little bit sad? I have duplicates that I dare not sell - not only would I leave money on the table, but when they finally went up they would cost me even more by killing my pop 1's.
I know when I wandered by your table you rolled your eyes and knew you wouldn't sell me a coin. Actually, I think I bought a few from you to your amazement. I'm sure Andy felt the same way at times. You always have had a nice inventory, and good luck with the other upgrades. Many people have asked me why I never tried several of the coins. I actually did try a few over the years and a few more right before the auction. Believe it or not, only one coin upgraded and that one wasn't a super tough date. It was a "no-brainer" upgrade and I wasn't surprised it did. Perhaps PCGS will be kinder to those who bought my coins rather than the person who sold them. I guess that's the way it goes.
Someone asked about my matte proofs. I still own those coins and they will be my "foot in the door" to additional Lincoln collecting. For those who care...the matte proof series of Lincolns is super tough and undervalued. Trust me on this. Look for that series to take off soon. Unlike the mint state coins, don't shy away from attractive RB's as opposed to RD's. If you can find a 1916 Matte proof Lincoln, buy it in any grade.
I've enjoyed everyones comments and will continue to monitor this message and try to answer any questions about certain coins in my set or what I think might be good Lincoln buys.
Happy Hunting...Mike
It was one of the nicest sets.....
Dennis
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