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PCGS 1951-D MS66RD Lincoln Auction - Explanation Please
Coppernicus
Posts: 1,764 ✭
Someone in the know has to explain this bid to me on a $25.00 coin.
Linky
I know Ira handles great stuff, so the bidder is thinking it's really a 67?
Thanks for any guidance.
Mike
Linky
I know Ira handles great stuff, so the bidder is thinking it's really a 67?
Thanks for any guidance.
Mike
Coppernicus
Lincoln Wheats (1909 - 1958) Basic Set - Always Interested in Upgrading!
Lincoln Wheats (1909 - 1958) Basic Set - Always Interested in Upgrading!
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Comments
<< <i>Description:
This is one of the dates in the late 1940's and 50's that cost serious money in MS-67 Rd! In fact, in MS-67,be prepared to spend well over $1000 as few were certified at the MS-67 level.
No reserve >>
He's hyping it as if it's under graded
but I am not too sure with the pics that are shown....I have asked for closeups.
Hell, I don't need to exercise.....I get enough just pushing my luck.
1995:1035
Jan 31, 2005 1951D PCGS 66 RD - $12
2055:1070
Jun 20, 2005 1951D PCGS 66 RD - $9
2070:1153
Jul 25, 2005 1951D PCGS 66 RD - $24
2077:1156
Aug 10, 2005 1951D PCGS 66 RD - $18
2077:1157
Aug 10, 2005 1951D PCGS 66 RD - $18
Russ, NCNE
I've never met Ira before, but I have communicated with him here on the boards. He seems like a nice fellow and unlikely to "hype" anything. For some reason, and I'm sure he has one, he feels this coin is worth a hundred bucks. I'd say cut him some slack.
Jack
<< <i>
<< <i>Description:
This is one of the dates in the late 1940's and 50's that cost serious money in MS-67 Rd! In fact, in MS-67,be prepared to spend well over $1000 as few were certified at the MS-67 level.
No reserve >>
He's hyping it as if it's under graded
Well, Mr. Camaro 350....... please show me WHERE in my description I am HYPING it as if it's undergraded?
Did I say somewhere that it is really a MS-67? Did I add PQ to my description? The price sheets are behind the tiimes for high grade Lincoln cents, and that includes much of Coin Universe pricing.
I usually handle far more valuable coins, but now and then, if the pickings are slim, I'll buy a few lower priced coins at a show for inventory, as I did with this coin. (at the recent PAN show) I paid $85 for it, belying Mike's contention that it is a $25 coin. I can buy plenty of common MS-66s in PCGS holders in the Lincoln cent series for $25 or less, but the 1951-D is not one of them.
Coins have two sides. If the all-important obverse is exceptional, virtually MS-67 quality, as I feel this one is, the grading company, PCGS or NGC, will often grade it at a compromise grade. In the case of this particular coin, the reverse has some nicks and hits and is, at best, low end for the marked grade, and maybe only MS-65 in quaslity, but the obverse does indeed match MS-67s I have sold of this date. It's a date that is often very difficult to locate even in extensive Lincoln Cent inventories. Since a MS-67 is worth about $1000 or more in a PCGS holder, this puts price pressure on the coins one grade lower.
Clakamas has written that as it is a coin that probably doesn't come up often, "Ira got lucky." Hmmmnn, $85 purchase price (not even figuring about $400 total cost to attend a 2 day show incl. transportation cost) and I sell it for a $20 profit, LESS eBay listing fees, eBay final value fees, and generally, PayPal fees, EXACTLY how lucky was I. Will I clear $12?
You see, I always use large, well-detailed photos and light the coin in such a way as to show defects, never retouching them out or hiding them in shadow, so potential bidders can see the coin with all it's warts and blemishes. In hand, with the ability to rotate it and really get a feel for the actual coin, they tend to look better than the photo. I can only imagine the slugs of this date that Teletrade sold in the $9-$15 range. You won't find me buying those up.
This is not a scarce 1951D-1OM-001. If it were I would have mentioned it.
Ira Stein
Chris
My Collection of Old Holders
Never a slave to one plastic brand will I ever be.
Ira... though maybe edit your price for the ms67rd 50-p ($10,000!?). I sold one last summer for $2950. Angel Dee's has one priced at $4200 or something but he won't sell it, that's too high.
<< <i>Well, Mr. Camaro 350....... please show me WHERE in my description I am HYPING it as if it's undergraded? >>
Ira,
Feel free to ignore the drivel puked up by camaroboy. He's the biggest joke on the forum.
Russ, NCNE
<< <i>I can say that I have bought from Ira and have found that while his prices are at the top of the range so is the quality. >>
Ditto.
Bought this one from Ira in July 2004:
Very solid coin for the grade and a fair buy for the money. "Cheap" and "good value" are usually two different things. He'd probably be the first to tell you his coins aren't cheap. But then, he also doesn't have those four-page spreads in Coin World offering "BU" Morgans for $15 each, either.
My Collection of Old Holders
Never a slave to one plastic brand will I ever be.
I've seen browns with that much detail and some RBs with about 25% red, but that was the finest MS-64RB I ever sold of this date.
Ira
Chris
My Collection of Old Holders
Never a slave to one plastic brand will I ever be.
<< <i>I can say that I have bought from Ira and have found that while his prices are at the top of the range so is the quality.
Chris >>
Not always the case. I returned a coin I didn't like.
<< <i><< I can say that I have bought from Ira and have found that while his prices are at the top of the range so is the quality.
Chris >>
Not always the case. I returned a coin I didn't like. >>
With your buying ability, you returning a coin is probably the best endorsement he could get.
Russ, NCNE
<< <i>
<< <i>
<< <i>Description:
This is one of the dates in the late 1940's and 50's that cost serious money in MS-67 Rd! In fact, in MS-67,be prepared to spend well over $1000 as few were certified at the MS-67 level.
No reserve >>
He's hyping it as if it's under graded
Well, Mr. Camaro 350....... please show me WHERE in my description I am HYPING it as if it's undergraded?
Ira Stein >>
You're kidding, right ? If it's a 66 then why talk about 67 money ? That's "hype". Leading the reader into the next grade.
If you feel it's a 67 then submit it and get it into a 67 holder. Then you can proudly state how rare it is in it's new plastic.
Here's the last few sales of MS67RD (NGC) examples (Teletrade)
Previous Price History from Teletrade®
Sep 7 2005 Small Cent 1951D NGC 67 RD $78*
Aug 7 2005 Small Cent 1951D NGC 67 RD $68*
July 4 2005 Small Cent 1951D NGC 67 RD $72*
Jan 17 2005 Small Cent 1951D NGC 67 RD $72*
Still seems to me a start of $105 is a little high for a MS66 ? But, i guess if you can hype it enough to where a buyer is willing to pay it then good for you (?)
510!!!?.....seems a little high to me too.
All I will say is that is one beautiful, nicely struck 14-D!
That, to me.........is top end material.
Pete
<< <i>[
Clakamas has written that as it is a coin that probably doesn't come up often, "Ira got lucky." Hmmmnn, $85 purchase price (not even figuring about $400 total cost to attend a 2 day show incl. transportation cost) and I sell it for a $20 profit, LESS eBay listing fees, eBay final value fees, and generally, PayPal fees, EXACTLY how lucky was I. Will I clear $12?
>>
You got Lucky to get a profit if you paid that much for it. I will make 50 MS66's if you buy them at $50 each. I have 50 OBW rolls sitting on my shelf.