DO YOU COLLECT MODERN PCGS PR69DCAM PROOF COINS?

Steve · November 11, 2004 12:59AM

I noticed on Teletrade recently that packages of 1977 thru 2004 Lincoln proofs (28 coins) are selling for $300 to $320. That is an average price of about $11 each. Obviously, the market is flooded with these coins right now. This is a great way for new collectors to start a registry and add to it over the years. The mass minting of deep cameo coins began around 1977 and they ARE beautiful coins. Do you think PCGS should have proof registries for cents, nickels, dimes, quarters, halves and dollars starting with 1977 to present? A great way to obtain beautiful modern coinage at very reasonable prices. Obviously, no investment value in it for another 25 years, but it could drive more slabbing of these coins. Opinions? Steve

braddick · November 11, 2004 1:06AM

No.

Skyrider · November 11, 2004 1:38AM

Not any more. I've seen PR69DCAM's selling for $4, $3, and even $2 on E-Bay

RBinTex · November 11, 2004 3:24AM

Not since the great crash of '03

wondercoin · November 11, 2004 4:06AM

"This is a great way for new collectors to start a registry and add to it over the years."

Agreed. PR69DC Lincolns start getting "tough" at 1976(s) and earlier. 1977(s) is a bit tougher and from my experience many "date run" of PR69DC Lincolns I have seen in the marketplace begin with 1978(s) as a result. Since PCGS charges collectors $12 to slab these coins, not to mention the value of the raw Lincoln proof itself, bulk selling at $11/coin is an interesting proposition for new collectors to say the least IMHO.

Wondercoin

badger · November 11, 2004 7:32AM

I used to work at Johnson Matthey (precious metal refiners). JM would sell precious metals at spot to employees. In 1988, the government started needing more Rhodium which is a byproduct of mining Paladium. We figured that Rhodium would go up due to demand and Paladium would drop since it would be over-mined to get the Rh. Sure enough Paladium has dropped and not kept pace with Rh or Pt. (Rhodium was named a strategic metal and I don't think the general populace can own the metal.)

Are proof sets being mined for the PR70Dcams leaving the near miss Pr69DCams as a byproduct?? If so, then we would need demand from beginning collectors for the PR69Dcams before prices could increase.

(Think of those poor PR68DCam moderns. Will anyone ever love them??)

wondercoin · November 11, 2004 7:49AM

Badger - Excellent post.

Wondercoin

Stooge · November 11, 2004 7:52AM

<< <i>Are proof sets being mined for the PR70Dcams leaving the near miss Pr69DCams as a byproduct?? If so, then we would need demand from beginning collectors for the PR69Dcams before prices could increase. >>

Excuse me, but where in the world does the notion of calling a collector of PR69DCAM coins a "Beginning collector?" I happen to collect PR69DCAM because most of the time, thats all I can afford. Yes...some of the 70's are affordable, but most are rediculous prices for mostly the same exact coin. I know of some seasoned collectors that collect 69DC and thats it.

Later, Paul.

DeepCoin · November 11, 2004 8:24AM

They make a nice inexpensive coin for Type sets. That is how I use the ones I have. I enjoy them for what they are.

kieferscoins · November 11, 2004 8:29AM

No.

Cameron Kiefer

badger · November 11, 2004 8:48AM

Stooge (by the way your icon is great);

I like the way any PR69Dam looks. I was assuming that beginning collectors would start low and slow as they built knowledge of coin collecting. The moderns provide an opportunity to have great looking coins at reasonable prices.

Hey, I collect moderns too.

raycyca · November 11, 2004 9:10AM

I started my goal of completing a complete set of Kennedy sets 4 years ago from circulation. Then I started on slabbed coins because it was an easy way to handle the coins and not damage them. Plus it is easier to sell sight unseen a PCGS coin. I started with 69 DCAMs because I couldn't afford the $100 each coin back then for the Kennedys. Now I wish I did get them back then. I completed the set in 69 DCAM(mostly) and bougt a few 70's when the price was right. That's why I only have 6 of them. I never hope to complete the set in 70DCAM like my friend Edson did because of funds. The 1960's coins in 69DCAM are VERY beautiful and usually fairly affordable! The difference between a 69 and 70 is literally microscopic and not justifiable for me. When the 70's come up for sale at my price level, I will buy another one. Until then, the 69 DCAM is a VERY beautiful/affordable alternative. They can be used as a space filler until you upgrade, if that's your goal. If you do upgarde, you can sell your spares, or do like I do and give them to a future collector. They appreciate a "pretty" coin and can bang it around and still be pretty. I love the look on their face when you give them that shinny object. The $20 spent is well worth that smile. If you can get them for $11, when you update or get duplicates, think of how many smiles you can get then. Ray
PS: I forgot to add that I have yet to get a single 69 DCAM Lincoln. Still have that spot open in my type set. I haven't got around to filling that spot yet. Maybe someday....

Steve · November 11, 2004 9:39AM

<< <i>

(Think of those poor PR68DCam moderns. Will anyone ever love them??) >>

I "love" my PR68DCam modern. It happens to be a 1990 no S Lincoln cent!

Steve

badger · November 11, 2004 10:05AM

Steve, o.k,, o.k., point made.

I'm not saying another word.

Long live moderns.

Rodius · November 11, 2004 1:53PM

I have just upgraded my registry with a few 70's...I agree that the difference in grade is barley noticable and the price difference is huge. However, I would not trade the 70's for 69's. I just upgraded my 2004 Jefferson's and can see why the coins graded the perfect 70.

I will pass on the 69's to my nephews, aged 7, 11, and 13 who will LIKE them for the basic shinney quality. They will get the 70's when I pass on to Coin Heaven. I enjoy the hunt and the aquistion of the 70's and I can afford it for the time. Who knows, I may have to sell in the future, but I had them for a short time.

And if I may blow my horn,

, I am now in the top 5 of the Jefferson Proofs 1965 - present variets. Yes, it is ego, but somethiing to pass on to the nephews.

badger · November 11, 2004 4:50PM

Congratulations on the top 5 for the Jeffs. I tried to do the same years in Roosies, and man, that is a lot of coins. I think I may trade my Roosies for Jeffs. I think Jeffs are tougher to get in high grades.

relayer · November 11, 2004 5:32PM

Yes - I have a Statehood Quarter Proof Registry Set

coolkarma · November 11, 2004 5:50PM

<< <i>And if I may blow my horn,

, I am now in the top 5 of the Jefferson Proofs 1965 - present variets. Yes, it is ego, but somethiing to pass on to the nephews. -- Rodius >>

Rodius,
Congratulations!!! (those were my Jeffs you jumped over rather handily)

ellewood · November 12, 2004 12:32AM

This post brings up a question that I have been wondering for some time now. I am very curious to hear what others have to say. First off, let me say that over the last 2 years I have building a wonderful high grade set of RAW Lincoln Cents (Present to 1936 in MS65/66/67) and, in just under a year, I have assembed a pretty decent set of PCGS Proof Lincolns 1950-Present..a majority of them being PR69DCAM'S.

I think often about adding a PR70DCAM or two to my registry set (especially with Wondercoin making such a big splash in the market). The thing that has prevented me from doing so is the fear of a coin turning in it's holder. So, what percentage of these PR70DCAMS that are slamming the market right now....will evolve into a PR69DCAM if regraded in 5 or 10 years??? Any opinions? Also, I believe it is possible that some of the PR69DCAMS that have flooded the market now may evolve into PR68DCAMS if regraded in that same time period. Will these perfect 70DCAM moderns be "not so perfect" after a decade or so in the holder. When looking at my PR69DCAMS, I can honestly say that my 2002, 2003 & 2004's look a heck of alot "fresher" and "frostier" that my 69DCAMS for the 80's. Point being that after 15 years or so...do these Lincolns start to loss some of their pizzazz????? If I am going to spend $400, $600 or even $1000 on a 70DCAM, I want to be sure that it will not turn on me. I'm not so sure that anyone can guarantee that. It is quite clear that those that can afford 70DCAMS will be at the top of the registries in all series. I would love to hear from those who have some experience with 70DCAMS.

One last question....will PCGS guarantee the value of a 70DCAM after they holder it???

Steve · November 12, 2004 3:08AM

Toby,
Very good questions. I agree with most of what you said. That is why I would never spend serious money (ie) over $25 on a modern proof DCAM cent. The one exception I made was two years ago when I spent $86 on EBAY to aquire my 1992 PR70 Lincoln. I did that because I wanted a PCGS graded perfect coin in my collection. No other reason. I too, believe that over time the coins will naturally "mellow" in their holders. PCGS does guarantee grade, but they may consider a mellowed 2002 coin in 2015 is still a PR70 perfect. It is THEIR judgement. I just think these PR69 proofs look real nice now and since the price, with the PCGS guarantee , is reasonable (ie) about the cost of a $12 slabbing on teletrade right now, I suggested that it might be a nice set to put into the registry. No way do I see these coins as investments, again with the ONE exception of the 1990 no S within the Lincoln cent series. JMHO. Steve

prooflike · November 12, 2004 5:32PM

Yes, I am working on a Commemorative Half Dollar set in PCGS PR69DCAM

LindeDad · November 13, 2004 1:23AM

Yes I have several sets of the 69DCAM's. And no I won't pay the crazey price that a 70 cost to even try for the top pops in my proof sets. Oh if somebody can find me a $5.00 1971-S PCGS 50c I'll take that in a minute. What I'm saying is there are some investment grade moderns out there, maybe not pennies. But check some of the type 2 coins or sigmature serie coins prices.

CarlWohlforth · November 13, 2004 3:33AM

I don't think a new registry set is needed. These groups make an excellent start to the 1965-present sets and those sets seem sufficient to me.

I questioned the grading on some PR 70 DCAM Jeffersons I had. PCGS downgraded the coins and sent me a check making me whole. Naturally I really appreciated their grade guarantee. I would not worry about a coin turning because PCGS would take care of the problem in the unlikely event a coin did turn.

DMWJR · November 13, 2004 1:43PM

You will lose more money on 70's than you will with 69's. And the difference in quality (if any) is minute.

Coppernicus · November 13, 2004 2:29PM

I've got all of the silver state quarters in PCGS PR69DCAM Flag holders and they're all beautiful (even when the reverse design is horrible!) I don't collect the clads, though.

I also have 1979-2003 Lincolns - all PCGS PR69DCAM and they're nice too. I refuse to pay the MS70 prices on any of these - too many additional dollars for miniscule (invisible?) differences.

I have the new nickels in PCGS PR69DCAM also - great eye appeal! I guess I just love the look of PR69DCAMs!!

Mike

DO YOU COLLECT MODERN PCGS PR69DCAM PROOF COINS?

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