1953 Lincoln Cent MS67-RD

[Keigwin]

Can anyone explain the reason(s) for the enormous difference in FMV listed by Numismedia and PCGS for a 1953 Lincoln Cent MS67-RD?

 

Numismedia: $93.75 (19 graded at this level)

PCGS: $10,500.00 (3 graded at this level)

 

This is a coin I would like to add to my registry set but I'm having a difficult time determining a fair price to begin negotiations. I've come across a couple of these coins on ebay. One seller of an NGC-slabbed '53 67RD tried auctioning it for $3,000. No one bit so he relisted it in his store for $10,000. Interesting tactic, huh?

 

I wrote to Numismedia about this glaring conflict and several more late wheat straws but got no answer. Any ideas?

 

I hope this is an appropriate post for this forum. I've lurked a while but stayed in the closet until now.

 

Thanks!

Lance. ("Keigwin" in the Registry)

[harvey8542]

Welcome to the forum Lance . I do not have an answer but I am sure someone on hear will sorry.

[bsshog40]

Welcome to the forum Lance. This is a question that all have asked before with no conclusive answer. Some of it is the low population that was given on the PCGS side.

[Keigwin]

Thanks for the welcome! I'll try to be a little more available.

 

Yes, 3 at PCGS is different from 19 at NGC but both are very low. I could see a slight disparity but $100 vs. 10,000?

 

I don't think anyone can explain it. I guess I'm just registering a little frustration.

 

Lance.

[James_OldeTowne]

I don't think anyone can explain it. I guess I'm just registering a little frustration.

I'll give the same explanation I always give. The PCGS coin sells for more because it costs more. Dealers have to submit a lot more coins to PCGS - meaning a lot more overhead in certification costs - to get a "pop top" grade, and they must pass that cost on to you.

 

That is why you should buy the NGC coin in this case. It will cost you much less, you'll be happy with it, and you'll have a lot of cash left over to buy other coins.

 

Good luck!

[MarkFeld]

Thanks for the welcome! I'll try to be a little more available.

 

Yes, 3 at PCGS is different from 19 at NGC but both are very low. I could see a slight disparity but $100 vs. 10,000?

 

I don't think anyone can explain it. I guess I'm just registering a little frustration.

 

Lance.

A $10,000 price differential sounds high, and price guides are often way off. However, that said, with populations of 3 and 19, I would still expect a very large price disparity.

 

Checking the Heritage auction archives....An NGC example sold for $600+ in Sept., 2006 and another one brought $900+ in July of the same year. A PCGS example realized $10,925 in July of 2005. Prior to that, one had brought $8300+ in Sept., 2003.

[BillJones]

Some people might jump on me for this one, but $10 grand sounds like a lot of money to pay for a 1953 cent. Sure, PCGS does not grade a lot of these coins, but that's part of the PCGS game. They limit the supply of high grade modern coins to prop up the prices. A hand picked NGC coin will cost you a lot less, might be just as nice, and will cost a fraction of the price.

 

I know that “registry fever” is a powerful disease. I’ve been cured of the point grade form of it because there is no way that I will ever be top dog. I also refuse to participate in the PCGS registry because they will not accept NGC coins.

 

I’d be very careful of paying these high prices. The market for this stuff at those levels is pretty thin. You have to ask yourself if a coin that is only tiny bit better than some other similar pieces is really worth the expense.

 

[bsshog40]

I agree 100% with you Bill. "Buy the coin, Not the slab". How many times has that come across this screen?

[Keigwin]

Thanks for checking auction prices, Mark. Clearly some people are willing to pay in excess of $10k for the PCGS coin. I checked at David Lawrence too. The only one I could find was sold in Sept 2005; the winning bidder paid $750 (NGC). I think that includes the 15-20% buyer fee.

 

No argument about buying the coin, not the slab. Although 98% of my purchases today are NGC/PCGS slabs, I collected for 20 years before NGC and PCGS came along so it was always the coin (and trustworthy dealers).

 

I also agree that $10k is pretty steep for a 1953 penny, Bill. And it is good advice to consider the market size. Surely if I were ready to spend $10k on a coin a '53 Lincoln would not be on my shopping list.

 

Now, if anyone at Numismedia can show me a '53 67RD anywhere near $93.75 I'll gladly pay it. Maybe even a little more!

[James_OldeTowne]

Why not consider a nice 67RB? RB coins often look much nicer than RDs, often at a minuscule fraction of the cost.

[Keigwin]

To date neither NGC nor PCGS has ever graded a '53 cent MS67-RB. But I like your thinking.

[just-john]

could it be with populations of 3 and 19 NGC shows total for 1953 plain 526 graded out of 256 million minted

with 128,800 proof's minted .

I would have to guess that their are more still sealed rolls than graded coins out there and for now most collectors are not getting their 1953 cents graded .

You guys can't mean there that rare .When there are 4 TIMES more 1955 doubled dies graded than 1953 plain come on think about that for a few seconds before spending 100s of dollars

1927 d $20 thats rare or a $50.00 gold yup thats rare but 1953 ms67 in the year 2200 there will be hundreds in ms 67-68-69 maybe even a few ms70's

[michael]

i would find myself a ms 66 red pcgs coin that is killer red and a really high end 66 red that looks 67 red in a 66 red holder

 

or better yet look for an original roll 67 red raw coin and seek it out submit it and you might get lucky and if not then it comes back 66 red you still got a killer coin

 

 

[physics-fan3.14]

i would find myself a ms 66 red pcgs coin that is killer red and a really high end 66 red that looks 67 red in a 66 red holder

 

or better yet look for an original roll 67 red raw coin and seek it out submit it and you might get lucky and if not then it comes back 66 red you still got a killer coin

 

 

Michael strikes again! Good advice.

[CHABSENTIA]

Sounds like the De Beers control of Diamonds to keep up their Prices. Just limit the Population.

 

I have never understood the rationale of this when there is so much more competition when dealing with coins.

 

If it is the exact same grade , year and quality coin in the NGC Holder as the PCGS Holder or vice versa then why spend $10,000.00 for one and $100.00 for the other?

[braddick]

Why not consider a nice 67RB? RB coins often look much nicer than RDs, often at a minuscule fraction of the cost.

 

James, have you checked the pops, both PCGS and NGC for an MS67 RB?

 

Now that coin would be the greater challenge, at any cost, to finding one in full RED!

 

________________________

Edited to add:

 

In re-reading this thread I see Keigwin beat me to the punch!

 

I will add that, right or wrong- I make no judgment here, NGC will grade full RED Lincolns with the superb grade of MS67 when the luster isn't quite as blazing as PCGS needs to see to award the same grade.

In other words, a booming, lustrous RED PCGS MS66 Lincoln may have a bit of chatter on the shoulder whereas a RED NCGS MS67 Lincoln can have somewhat slightly muted luster.

 

I believe, eye appeal, in hand, warrants the PCGS coin, in general (and, no dis here...) to be stronger and thus more valuable/costly.

 

And if you think I'm speaking in generalities here, of course I am. There are exceptions both ways, but the above is what I have found to be true and accurate much more than not.

[just-john]

Guess it all comes down to buying the grade which for now seems rare or as predefined by the posted TPGS value guides . 1953-s pcgs ms67 sold for $253.00 -with181,835,000 minted at STACKS Orlando sale 1-2-2007 now somebody thinks that 1953 with 74million more minted is $10,000.00 how's that a - and his/he money soon parted

[CHABSENTIA]

As I mentioned earlier I have a few tubes of Lincoln oennies I took oout when I cleared one of my Safety Deposit boxes. Thought I only had about 150 but looks closer to 400 of them.

 

I went through half of them last night for dates and aside from a 1919 most are 1940s and 1950s so far.they are circulated and dark in color exsept for about 30 shiny ones thst seem to be a lot of 1964s

 

I don't know why I had it but there is also an 1862 1 cent. Fairly well circulated but the date is clear.I know nothing about pennies but I doubt if any are worth much.