Item number: 200139694838: The Holy grail of Lincoln cents

[Keleum]

The Holy grail of Lincoln cents 2003 MS70 PCGS Pop1

 

I'm looking at this auction, than closing my eyes "I believe in fairies, I do believe".

The seller has a rating of 297, member since 2002. He's selling this one and a 1914-D MS66.

 

Is this for publicity or something? I just don't expect to see $100,000 coins on eBay

 

[Lem]

Hey he's offering free shipping on the MS70!!

[bsshog40]

Well the PCGS value guide shows a value of $10,000. Of course that's retail which would probably be a realistice value of $7,000. He's hoping for a sucker!!!

[TomB]

He purchased the coin last September from a TeleTrade auction for $13,500. Karl Anderson (futureshock2038) made the coin last August and sent emails to PCGS R*egistry set owners soliciting an immediate sale. Apparently, no one was willing to meet his price and that is how it ended up on TeleTrade. As of last October the new owner was publicly stating that the coin was not for sale, but I guess things change.

[James_OldeTowne]

It shouldn't grade 70. The strike is not perfectly centered on the planchet, and therefore it is not a perfect coin.

[Keleum]

I guess all the hype over this coin has fallen off, to the point where its on eBay along with the '64.5 mustangs from alabama.

[MorganMan]

I am sorry, but that is WAAAYYYY too much for a piece of copper plated tin.....I don't care if it is a pop1

 

 

MM

[michael]

It shouldn't grade 70. The strike is not perfectly centered on the planchet, and therefore it is not a perfect coin.

 

 

(thumbs u

 

 

[michael]

He purchased the coin last September from teletrash for $13,500. Karl Anderson (futureshock2038) made the coin last August and sent emails to PCGS R*egistry set owners soliciting an immediate sale in the $75,000 range.

 

Apparently, no one was willing to meet his price and that is how it ended up on teletrash------ cold feet by the buyer for an extremely rare plasticized and in demand coin

 

just makes sure if you buys it you do not break it out of its respective holder. As of last October the new owner was publicly stating that the coin was not for sale. :busy:yea sure

 

now my 2007 lincoln cent graded ms70 by michael is better strike technically and marks wise and i will never sell it but i might with some hype let it go for $50,000

 

any takers?? please pm me

 

i see it is almost the same price on sleezebay as when it was privately offered to a few board members over at pcgs some months ago

 

 

[michael]

pop one today my friend also also extremely rare desired and coveted plastic

 

i w0nder if it will get the cac seal of approval and IF SO WHAT THEIR HIGH buy price will bee

 

YES POPULAR WITH 2009 COMING AND ALL THAT JAZZ AND A BAG OF CHIPS BUT I WONDER WHAT THIS COIN PEDDLERS BUYBACK IS??

 

on this extreme rarity

 

 

 

 

 

 

[braddick]

Well, each time this coin is brought up it solicits strong emotions & feelings. What other Lincoln cent can make that claim?

 

For that alone, it's the Holy Grail of Lincolns.

 

 

[MikeInFL]

As Michael might say... Crack that coin out of the holder and how much is it worth?

 

Holy grail or not, that's one expensive piece of plastic....Mike

[zrlevin]

As Michael might say... Crack that coin out of the holder and how much is it worth?

 

Holy grail or not, that's one expensive piece of plastic....Mike

 

I wouldn't pay much more than a nickel either way. You know me - once I own it, it's out of there!

[Keleum]

So submitting it for re-grade to NGC would be a bad idea? I would think collecting slabs for this would really increase its values, if ALL the TPGs graded it MS70 rather than just one...[J/K]!!!

 

Not for nothing, but I wouldn't sell the coin, I'd hold it and sell the rights to it. Repros, ad campaigns, stuffed animals, etc. Heck I bet a book that told the story of the coin would sell better than the coin itself. "Penny from heaven", released august 2009.

 

...mine, mine, my copyright, my intellectual property...hands off

 

 

 

[MunkyMan95]

Has the owner stated that it's actually him selling the coin and not some scammer trying to make a quick (hundred thousand) buck?

 

Everyone knows that it sold for under $15,000. $75,000 is outrageous.

[djdilliodon]

I think maybe he really doesnt want to sell it (knows no one is gonna pay that) but is more showcasing the coin if anything. Problem is you know what they say there is an for every seat so you never know someone could pull the trigger at that price but i doubt it.

[lkenefic]

I am sorry, but that is WAAAYYYY too much for a piece of copper plated tin.....I don't care if it is a pop1

 

 

MM

 

HEY!!!!! it a piece of copper plated ZINC!!!!!!!!

 

 

....not that it really matters to me anyway....

[cladking]

Everyone keeps looking for the bigger fool but as always the biggest fools are those who refuse to even think about such coins since they are so far beneath them. The greatest fool is the guy who sold this coin for $1 raw.

 

Everyone keep laughing.

[michael]

then put YOUR money where your mouth is AND pony up and pay 75 grand for it

 

break it out of its holder and it is back to one dollar but only if you include the tag for a conversation piece

 

 

 

 

[cladking]

then put YOUR money where your mouth is AND pony up and pay 75 grand for it

 

break it out of its holder and it is back to one dollar but only if you include the tag for a conversation piece

 

 

If one bought it for $75,000 and could sell it for only $7,500 it's still not as bad as the guy who sold a $13,000 coin for $1.

 

If you have one just like it I can promise you $1 for it.

 

We all make our own choices.

[Keleum]

I know I'm showing my lack of knowledge, but is that how the coin was found, it was bought from a "dealer" and then submitted? I haven't heard the real story of this coin. I also heard/read it was a kid, etc., etc. I just figured it was something for snopes to figure out.

[cladking]

It was bought as part of a mint set at a coin shop.

 

If you pro-rate the cost of the coins in the set, it didn't even cost a dollar. It depends on how you figure it but it was probably closer to a quarter.

[gmarguli]

It was bought as part of a mint set at a coin shop.

 

If you pro-rate the cost of the coins in the set, it didn't even cost a dollar. It depends on how you figure it but it was probably closer to a quarter.

 

There is the cost of time spent by the finder. This might be a $1,000 coin.

[cladking]

 

There is the cost of time spent by the finder. This might be a $1,000 coin.

 

 

If you went out seeking a 2003-P Lincoln to the exclusion of everything else then you would probably have far more than a thousand dollars worth of effort in finding this coin.

 

Of course most modern collectors are looking for all kinds of things from various gems to the many varieties. This greatly increases the chances of making finds since there's usually plenty of stuff to look at.

 

I don't know if the difficulty of finding these coins has much bearing on the price or not. There are many who believe this is the primary determinant of price but I suspect it has far more to do with what many of the buyers are willing to pay than what the coins sell for. The price is still set by supply and demand regardless of what most individuals are seeking to pay or at what level they're willing to sell. This being said, if the price of the Lincoln were determined by the difficulty in just finding this one coin, it would probably cost more. One would have to look at at least a quarter million 2003 mint sets to have a reasonable chance of duplicating it. Perhaps, as some would claim, you could just keep resubmitting the best coins out of a few thousand sets but I'm assuming the coin is accurately graded. The cost of looking at all these sets would be substantial. Selling so large a number of rejects would depress the market even if could could sell them retail.

 

Just being difficult to find doesn't make it worth anything at all. There are lots of things that are rare but have little value because no one cares. And herein lies the real meaning of a $1,000; $10,000; or $100,000 penny: People are looking. Just as a 1919-S cent is a tough coin in MS-69 so is a 1972-S, or a 2003-P.

 

I think it's great that with some effort anyone can find some scarce US coins for a low price. I don't have a problem with people paying "moon money" for such coins so long as they know what they're doing. It's obvious that there are some people out there buying moderns and don't have a clue what they're doing but the exact same thing applies to even more of those buying "investment grade" classics.

 

Yes, the cost of finding this coin might have been far over $1000. But still this is a little like collecting from change back in the 1960's; you never knew what you'd find next. It's the same thing in all the moderns really. Even with the ultra-moderns there's the excitement of knowing you might get something different or hot. You never know what the mint will come up with next.

 

To each his own. I've found many ways to enjoy my hobby and not all of them involve moderns. Even if I had no financial stake in these they would still be among the most exciting of all the items I collect.

[MercP]

Amen, Cladking.

 

I have to say I would not pay 75K for said coin. However, my wife would kill me if I paid 75k for anything.

 

With that said, modern coins are collectiable and the slab does make a diffrence. If your buy a Morgan dollar, or any other coin for AU money, and the coin grades XF or MS, if you want to sell it makes a diffrence. You either gain value or lose value.

 

So, oi this is ture from older coins, then why is it not true for moderns.

 

I do agree that this is an extreme example. but I have paid many times face value for modern coins of less importance.

[ziggy29]

I have to say I would not pay 75K for said coin. However, my wife would kill me if I paid 75k for anything.

If you told her you paid $75,000 for a nice vacation home on the beach to eventually retire in, would she kill you?

[relicsncoins]

If I had unlimited income, I would buy it , crack it and resubmitt it. How much you want to bet it wouldn't come back a 70?

 

JJ

[shirohniichan]

I am sorry, but that is WAAAYYYY too much for a piece of copper plated tin.....I don't care if it is a pop1

 

 

MM

 

HEY!!!!! it a piece of copper plated ZINC!!!!!!!!

 

 

....not that it really matters to me anyway....

 

Where do you modern bashers get off saying it isn't worth $75,000? There's only ONE of these. The PCGS Price Guide said Chain Cents sell for $57,500 in AU55, but there have to be a number of those.

[cladking]

 

Where do you modern bashers get off saying it isn't worth $75,000? There's only ONE of these. The PCGS Price Guide said Chain Cents sell for $57,500 in AU55, but there have to be a number of those.

 

 

They're probably right. It's unlikely to sell for $75,000 now.

 

 

[PovertyRow]

It shouldn't grade 70. The strike is not perfectly centered on the planchet, and therefore it is not a perfect coin.

 

Interesting and true. Coming from the comic book world (although I collected coins back in the 60's) that would be called a "miswrap" and would be less desirable. I doubt CGC would grade a miswrapped comic a 10 (10 in comics = 70 in coins).