Good Deal | 1938-d lincoln penny graded au-58br sells for $825

[Guest]

1938-d lincoln penny graded au-58br sells for $825
Below are a couple of links to pages on the Teletrade website that claims they just sold a PCGS 1938-D LINCOLN PENNY GRADED AU-58BR FOR (WITHOUT ANY ERROR OR SPECIAL VARIETY DESIGNATION) FOR THE UNHEARD PRICE OF $825! I've looked over the photos of the coins and can not for the life of me see anything special at all about this coin. Can somebody please tell me what I'm missing here.
http://www.teletrade.com/coins/lot.a...=3040&lot=1178

http://www.teletrade.com/coins/cat.a...genum=5#detail

Thanks in advance

[coin-crazy]

I too would like to know, but there is a sucker born everyday thou .I know that much!!

[eaxtellcoin]

That coin has a DDR. Look at the dots between EPU and the far right wheat ear. if you look at the first pic the spacing is close to RPM#2. I have two of these in ICG 66 slabs anyone want to pay that much for a full red!!!!!!

[Pat]

Yeah I dunno.. This on eBaY is a Buy Now for $129 1938-D 1C Lincoln Head Wheat Small Cent MS 67 RB ANACS

I don't even see a 1938D listed on CopperC that would warrant a variety in that price range.

[jcuve]

Seems like some sort of conspiracy...as to what or why I don't know. I see the Class VI DDR, but as noted, it just would not be worth this outlandish price...

[liveandievarieties]

High market values for AU 58 Lincolns have nothing to do with die varieties. They're driven by the pursuit of completing a PCGS EVERYMAN REGISTRY SERIES set. The Everyman Sets are for circulated grades, no higher than AU58.

Since January, I've sold over $6500 in AU58 Lincolns on Teletrade. This isn't as easy a game as one might think. For some dates, I've submitted as many as 9 examples before being granted the "perfect" circ. grade (and I consider myself a fairly sharp grader of Lincolns). Essentially, the people who assemble these sets would rather purchase the certified coin than have to mess with many, many attempts in certifying raw coins.

The ultra high prices are driven by the low populations of the coin in AU58. For some dates there are only a couple certified by PCGS, and therefore you have many collectors strongly competing for the only coin that may become available before the Registry Set awards on July 1st.

These are not values for raw coins- they're finished product, slabbed in the perfect grade for the sets. Amazing, yeah. But VERY Real!

[liveandievarieties]

http://www.teletrade.com/coins/lot.asp?auction=3036&lot=1077

http://www.teletrade.com/coins/lot.asp?auction=3026&lot=1118

http://www.teletrade.com/coins/lot.asp?auction=3026&lot=1103

http://www.teletrade.com/coins/lot.asp?auction=3022&lot=1133

[liveandievarieties]

The 38-D wasn't mine, but belonged to the only other gentleman working to develop this market. He and I had discussed what he thought he should place as a buy-back bid (essentially a reserve price). He decided on $400 and COMPETITIVE BIDDING drove the coin to double what we'd anticipated. To put it casually, it's an exciting market.

[snowman]

i learn something everyday. still amazing on the prices but i see why

could a link for thePCGS EVERYMAN REGISTRY SERIES set be posted

[RWBILLER]

hmmmm.
roger

[Pat]

Interesting.. No coins can be higher than AU58.. http://www.pcgs.com/articles/article...universeid=313

[Brad]

The Everyman Registry Collectors have taken this a lot father than I would have thought. Wait until a AU58+ comes on the market...

[eaxtellcoin]

I already have ONE on the list! my 37-D 3 legged is PCGS AU55!

[Pat]

The interesting bit is you can just go to ebay at purchase a 1927-D AU58 for $55 on a buy it now. It appears that the higher the year the higher the cost. 1955-1958 are $90 buy nows.

That is so interesting, I can see it already.

Sonofa... My dang 1958 came back MS62, anyone want to trade for a AU58

[liveandievarieties]

Funny you mention that Brad- I was just thinking about how the Secure Plus program will shake up the Everyman Sets. It's clearly just another ploy for David Hall and Co to milk millions more out of re-grades and further attempts at putting together a "perfect" circulated set. But it does create exciting opportunities. I just hope PCGS hasn't pushed the envelope too far, I'm not sure that the Everyman Sets really have tremendous roots, acceptance by registry collectors.

FROM PCGS-
"PCGS Secure Plus™ Grades
Coins that have been graded PCGS Secure Plus receive a .5 increase in the grade. In other words, a coin graded 65+ will be calculated as 65.5 in the Registry."

Do you realize the significance of that? In the Everyman set, a few of the participants were reaching the point of having all AU-58 sets, or "perfect" sets. But not anymore. Now a perfect set would be all AU-58+.

I can only hope that it doesn't have a demoralizing effect on the participants. If I were the buyer of the 38-D last week, I would regret paying $825 for the coin. As of yesterday or the day before, that 38-D now has much less significance than it did prior to this change in the rules....