1947 @ $4,400 ?!?!!??

[Circa]

Sold on ebay recently:

http://cgi.ebay.com/1419-1947-Lincoln-Cent-MS-67-RD-PCGS_W0QQitemZ160298026611QQihZ006QQcategoryZ52618QQssPageNameZWDVWQQrdZ1QQcmdZViewItem

(is there a way to make links shorter in posts?)

Granted, it is graded MS-67 and is perfect, but it's not key or a one-off error or anything. Why so incredibly high bids?

Here's one from a tray lot of that general time frame that I snagged at an estate sale. Granted it's not nearly as perfect as the one on Ebay and has a nasty ding in the 'C', but are these AU types really that rare? Please educate me, because I have some darned nice ones from this period.





I have a whole pile from this auction lot that are generally as good or better than this one, though this is the brightest of the wheats. 1939, 1940, 42, 44, 45, 46, 57, 59, 1962 x 3 U rainbow tones, 60-D, 61-D, 62-D, 64, 66, 68, and another dozen that have a little more wear to them but not much.

Let me know which ones I should be showing you guys.

- Steve

[1sgret]

Due to the fact that only 10 coins by population report for PCGS have been graded at this level.

It was an overproduced coinage, however very few were saved. This is a coin considered as a "Registery Coin" for the Registery sets. Granted I think it is overpriced but collectors are willing to pay good prices for graded Registery Set coins. This is my opinion only!!!!!!!!

[1sgret]

I collect Semi-older coins also but I limit the grade. All mine are PCGS Graded starting with 1938 P,D, S and up to 1959 graded at MS-66 Red. (I am missing a few earlier dates but continue to work on them).

Then I have all PCGS Proofs from 1969-S thru 2008-S in either PR-68 RED DCAM or 69 RD DCAM, including Type 1 and Type 2 of the 79-S and 81-S.

I build my own Registery collection for myself, however I think there is too much hype in PCGS registery coins and they are being pushed to increase that companies grading service and their products that are encapsulated. ( My opinion only. )

[Brad]

Are you actually registered?

[JeanK]

Hi Steve,
Nice batch of coins.
If you and I can get a complete MS63-64 set together for 34-58 do you think we can sell each coin for $4,400 dollars?
JeanK

[1sgret]

Are you actually registered?

No, because I believe that a Registry Set should include all coins graded by 3rd party grading services if they meet the correct standards of grading, and not by PCGS grading standards. (Grading is Subjective)

Just as NGC will incorporate PCGS coins into their registry sets I feel that PCGS should do the same to be fair and balanced. The only thing I see is PCGS is driving up the prices on their product that they encapsulate.

However we live in the real world. My opinion is that a coin should stand on it's own merit and not in a set to be qualified as the best in the collectors market.

Hence I build my own Registry Set for myself.

[JeanK]

Yeh Brad I know.
I was just hoping for a quick get rich scheme.
JeanK

[kloccwork419]

Get a 1946 at MS67..Its priced at $12,000

[CCC]

Geezzzzz, now I need to look thru my book's again. What is a 36 proof worth?

[Circa]

Forget $4,800 I'd be happy with $480 for a single penny

Yeh Brad I know.
I was just hoping for a quick get rich scheme.
JeanK

[1sgret]

Forget $4,800 I'd be happy with $480 for a single penny

I would be too. That's a heck of a profit if you found the coin in change.

[kloccwork419]

IF the 36 proof was at MS67 like this coin it would be anywhere from $2000-$25000

[trails]

Just to weigh in on this, the coin was a steal for that price. When you start dealing with high grade coins (pre - encapsulating years) the price goes up dramatically.

Earlier collectors were not overly concerned with grades as we are today. Yes appearance did play a part in their selection of what went into their albums, however, to most, it was not important. Now we are in a situation where the grade is all important. This mantra has been generated by the grading companies and why not, it puts money in their pockets.

While I did not collect coins when I was young, my experience in collecting was based in stamps. By my late teens, I had an impressive United States stamp collection that boasted Scott's # 1 and # 2, plus many other very early stamps from our country. While there was some concern on the appearance (hinged, unhinged, centered, creased, etc.) there was not the grading system that was in place as it is today. And of course, this grading did not stop with just stamps, coins and paper money, but continued on to sports cards and comics.

So, whether you like the grading system or not, it is now in place, creating the more expensive "common" coin in higher grades and does push our collection minded society to obtain the "best" that there is. The 1947 MS-67 is a very nice coin and if I could afford it, it would be in my collection.

BJ Neff

[Wheat Cents]

47,48,49 Philadelphia in HG are always a premium

[Circa]

I had a whole monologue ready, as the ebay example I cited looks soooo too perfect to "have just been randomly saved and then simply emerged into the market"... frankly to my inexperienced eye it looks carefully polished and treated by an expensive pro, but be that as it may,

what is mine worth? Subjectivity being the watch-word and all.

I have an obvious business strike, that is just as obviously either uncirculated or very nearly so. Nevertheless, it still has the little dings and scratches that come from being a little fish in a big herd, banged down ramps and dumped into bags, sloshed around and intended, ultimately, to be shuffled from pocket-to-till-to-pocket indefinately. To my eye, it is at least an honest coin. Neither too perfect or too handled, but clearly what it is. A simple business strike that beat the rap, with no fanfare, "special provenance" or insider funny business.

What's that worth, these days?