1943-S NGC MS67 PL Prooflike Steel War Cent - The only one!

[theonlywinner]

This is supposedly the only prooflike graded steel war cent and it was on Ebay recently. If it is the only one, why hasn't NGC done an article on it in their news?

Certification #: 171727-005

[World Colonial]

It would depend upon someone's criteria for numismatic significance and presumably they considered the stories they included to be more important.

 

Me, I'm not impressed with conditional rarities of any kind and this coin is common except as a conditional rarity.

[EZ_E]

Actually, I think that the coin is much more significant than just a conditional rarity. It's not like it's the only PR70 state quarter or something. Cool info. (thumbs u

[coinman1794]

This is a very interesting coin. Prooflike coins (besides Morgan dollars) are very under-rated in all series, and an article about them would be a great idea. I have written a few short ones about th scarcity of Mid-20th Century PL coins for my customers in the past.

[just-john]

wouldn't count on it being the only one -But guess it is the only one graded -They made 191 million of them sombody could have a few rolls tucked away

[TomB]

The significance of the slab may be tempered by the fact that for many years neither NGC nor PCGS gave out the PL designation on most coin series and this included Lincoln cents. Therefore, they may be quite a few equal coins already in holders, but that were certified prior to this policy change.

[World Colonial]

I could not even find this coin in the NGC census. I do agree that it deserves some consideration because there are no proofs for that year but less so than say, the 1944 steel cent which has a total NGC census of 4.

 

I am aware that most coins in PL are scarce. But the fact remains that there are still over 1800 MS-67 coins in the NGC census and that this scarcity is only one in a narrow sense, just not as a conditional rarity as I incorrectly stated.

 

I would be interested to know what this coin is worth. I could see paying a few hundred dollars for it but not more than that.

[coinman1794]

I could not even find this coin in the NGC census. I do agree that it deserves some consideration because there are no proofs for that year but less so than say, the 1944 steel cent which has a total NGC census of 4.

 

I am aware that most coins in PL are scarce. But the fact remains that there are still over 1800 MS-67 coins in the NGC census and that this scarcity is only one in a narrow sense, just not as a conditional rarity as I incorrectly stated.

 

I would be interested to know what this coin is worth. I could see paying a few hundred dollars for it but not more than that.

 

A PL is a true "first strike" from the dies! I'm sure if NGC used that term, there would be articles... Instead its a lousy 1 of a kind item that no one understands or cares about.

 

It is very possible that other PL coins reside in older, unlabeled slabs, and PCGS still doesnt use PL on anything but Morgan dollar! However, this issue in PL is unquestionably rare ~ I have been looking for one for years.

[EZ_E]

My 1943-P that I got from Mark Hooten is actually somewhat prooflike. (thumbs u

[Schatzy]

My 1943-P that I got from Mark Hooten is actually somewhat prooflike. (thumbs u

Vic....Very Nice!!

[World Colonial]

I have one PL coin, an 1892 South Africa ZAR NGC MS-64RB Penny. Its actually 90% to 95% red on the obverse and about 50% red on the reverse. And yes, there is no question that this coin looks better than a non-PL specimen which is why I would rather have it.

 

To me, the same would apply to this steel cent but the typical trend I see in US coins is that a narrowly defined rarity sells for what I would describe as a ridiculous premium over the typical specimen which is not rare at all. Mine is one of three PL specimens out of about 600 in the combined NGC and PCGS census but it would still only sell at a modest premium over a regular MS-64 RB, probably about two to three times as much. (I have never seen one for sale except mine which I bought on eBay raw for book value or $50 in 2002. Last year before the decline in the ZAR exchange rate, I probably could have sold it for at least $2,000 to $3,000.)

 

Should my coin be worth a higher multiple than that? Maybe, I do not know. There are anywhere from six to 20 proofs and these sell for at least $10,000 each. So some collectors probably would want to have one as a replacement for a proof though I am not one of them because I do not consider it a substitute.

 

For the 1943-S steel cent, based upon recent sales at Heritage, an MS-67 sells for about $100-$150 while a PCGS MS-68 has sold for as much as $7500 this year. (The PCGS MS-68 census is listed as 13 on Heritage.)

 

If this PL coin sold for about $1000 or slightly more, that would seem to be a reasonable multiple to a regular 67 since it is a US coin and from a popular series. The 68 prices, whether $7500 or the $2000-$2500 that most of them sold for are absurd, just like for practically every other (primarily US) conditional rarity for which I have seen results.

[michael]

The significance of the slab may be tempered by the fact that for many years neither NGC nor PCGS gave out the PL designation on most coin series and this included Lincoln cents. Therefore, they may be quite a few equal coins already in holders, but that were certified prior to this policy change.

 

 

(thumbs u (thumbs u (thumbs u (thumbs u (thumbs u (thumbs u (thumbs u

 

when in doubt re read the above over and over again and again

[coinman1794]

I have one PL coin, an 1892 South Africa ZAR NGC MS-64RB Penny. Its actually 90% to 95% red on the obverse and about 50% red on the reverse. And yes, there is no question that this coin looks better than a non-PL specimen which is why I would rather have it.

 

To me, the same would apply to this steel cent but the typical trend I see in US coins is that a narrowly defined rarity sells for what I would describe as a ridiculous premium over the typical specimen which is not rare at all. Mine is one of three PL specimens out of about 600 in the combined NGC and PCGS census but it would still only sell at a modest premium over a regular MS-64 RB, probably about two to three times as much. (I have never seen one for sale except mine which I bought on eBay raw for book value or $50 in 2002. Last year before the decline in the ZAR exchange rate, I probably could have sold it for at least $2,000 to $3,000.)

 

Should my coin be worth a higher multiple than that? Maybe, I do not know. There are anywhere from six to 20 proofs and these sell for at least $10,000 each. So some collectors probably would want to have one as a replacement for a proof though I am not one of them because I do not consider it a substitute.

 

For the 1943-S steel cent, based upon recent sales at Heritage, an MS-67 sells for about $100-$150 while a PCGS MS-68 has sold for as much as $7500 this year. (The PCGS MS-68 census is listed as 13 on Heritage.)

 

If this PL coin sold for about $1000 or slightly more, that would seem to be a reasonable multiple to a regular 67 since it is a US coin and from a popular series. The 68 prices, whether $7500 or the $2000-$2500 that most of them sold for are absurd, just like for practically every other (primarily US) conditional rarity for which I have seen results.

 

Rarity and value often follow divergent paths. A 1940s PL cent, might sell for little or no premium, and a generic, low pop modern PF70 (for which there will be thousands more graded in commong months) might bring $10,000 when it first appears on the market. The PL cent would be the exciting coin that should have brought big money, not the modern coin. But, my comments were more discussing these coins as a matter of interest than of dollar value. A fully prooflike 1943 cent that actually achieved the PL designation is something to be excited about. There are a number of semi-PLs if you look hard enough.

 

Also, on the foreign PL coin, the market for foriegn coins, with a few exceptions, is extremely soft compared to US coins, and the interest in special designations like PL tends to be even less pronounced. Therefore, it cant be compared to a US coin of similar rarity.

[RWB]

The zinc coated steel strip and blanks used in 1943 came from several suppliers and quality control was inconsistent. The coins were universally hated when they were issued and the mint spent a lot of time trying to find a way to darken them so that people didn’t confuse them with dimes.

[World Colonial]

Ignoring financial considerations for the moment, the main thing that I consider this coin to have going for it is that if someone wants a coin that looks like a proof, there are no proofs available as an alternative. (This is not true of most other PL issues.) But on the other hand, the fact that there are no proofs almost certainly reduces the demand and desirability to most collectors because they are not actively trying to find one.

 

Me, I do like steel cents but probably because I am not a collector of US coins or this series at all, the idea of this coin, whether there are only one or somewhat more as is likely given the huge original mintage, does not excite me. I recognize that it is better than its non-PL counterparts but at the end of the day, it is still a narrow definition of rarity.

[gmarguli]

This is supposedly the only prooflike graded steel war cent and it was on Ebay recently. If it is the only one, why hasn't NGC done an article on it in their news?

Certification #: 171727-005

 

Since it is your coin that you are selling, perhaps you should be the one writing the article?

 

Prooflike steel cents are not common, but they are not extremely uncommon. I've handled a couple over the years including one that had a nice cameo to it in a PCGS slab. I don't recall which mint, but it was MS66.

 

FYI: You're asking $2,995 for this coin. A regular MS67 sells for around $50. I do not believe that there is anywhere near that type of premium for this coin. I've sold many NGC graded PL coins where the pops were unique or extremely low. They do not bring large premiums. I'd guess your coin is worth 1/10 of what you are asking or even less.

[MarkFeld]

This is supposedly the only prooflike graded steel war cent and it was on Ebay recently. If it is the only one, why hasn't NGC done an article on it in their news?

Certification #: 171727-005

Most likely because they didn't feel it was newsworthy. There are quite a few semi-prooflike or prooflike steel cents, even if they have not been designated as such. And the designation or lack thereof, can be just as subjective and inconsistent as numerical grades. I must agree with Greg that the coin isn't worth anywhere near the premium you have attached to it.

[Fudope]

NGC does graded PL on Steel Pennies now.

[coinman1794]

This is supposedly the only prooflike graded steel war cent and it was on Ebay recently. If it is the only one, why hasn't NGC done an article on it in their news?

Certification #: 171727-005

 

Since it is your coin that you are selling, perhaps you should be the one writing the article?

 

Prooflike steel cents are not common, but they are not extremely uncommon. I've handled a couple over the years including one that had a nice cameo to it in a PCGS slab. I don't recall which mint, but it was MS66.

 

FYI: You're asking $2,995 for this coin. A regular MS67 sells for around $50. I do not believe that there is anywhere near that type of premium for this coin. I've sold many NGC graded PL coins where the pops were unique or extremely low. They do not bring large premiums. I'd guess your coin is worth 1/10 of what you are asking or even less.

 

As someone who works with PL coins every day, and knows more about them, I can tell you that this piece is in demand as a 67PL, and I would place a value on it around $500-700.

 

[brg5658]

This is supposedly the only prooflike graded steel war cent and it was on Ebay recently. If it is the only one, why hasn't NGC done an article on it in their news?

Certification #: 171727-005

 

Since it is your coin that you are selling, perhaps you should be the one writing the article?

 

Prooflike steel cents are not common, but they are not extremely uncommon. I've handled a couple over the years including one that had a nice cameo to it in a PCGS slab. I don't recall which mint, but it was MS66.

 

FYI: You're asking $2,995 for this coin. A regular MS67 sells for around $50. I do not believe that there is anywhere near that type of premium for this coin. I've sold many NGC graded PL coins where the pops were unique or extremely low. They do not bring large premiums. I'd guess your coin is worth 1/10 of what you are asking or even less.

 

As someone who works with PL coins every day, and knows more about them, I can tell you that this piece is in demand as a 67PL, and I would place a value on it around $500-700.

 

Yes, gmarguli's comments were also nearly 5 years old (from April 2009). This thread is extremely old -- Fudope has a tendency to "necro-post".

[jom]

This is supposedly the only prooflike graded steel war cent and it was on Ebay recently. If it is the only one, why hasn't NGC done an article on it in their news?

Certification #: 171727-005

 

Since it is your coin that you are selling, perhaps you should be the one writing the article?

 

Prooflike steel cents are not common, but they are not extremely uncommon. I've handled a couple over the years including one that had a nice cameo to it in a PCGS slab. I don't recall which mint, but it was MS66.

 

FYI: You're asking $2,995 for this coin. A regular MS67 sells for around $50. I do not believe that there is anywhere near that type of premium for this coin. I've sold many NGC graded PL coins where the pops were unique or extremely low. They do not bring large premiums. I'd guess your coin is worth 1/10 of what you are asking or even less.

 

As someone who works with PL coins every day, and knows more about them, I can tell you that this piece is in demand as a 67PL, and I would place a value on it around $500-700.

 

Yes, gmarguli's comments were also nearly 5 years old (from April 2009). This thread is extremely old -- Fudope has a tendency to "necro-post".

 

"necro-post"?

 

jom

[RWB]

Heck -- only 191,000,000 struck at SF; clearly, this must be unique and worth upwards of 50-cents.

 

Oooops -- just an opinion not an offer to buy or sell.

[Fudope]

I just replied to this thread because I wanted it saved into "my posts" so that I can use it as a reference. I didnt think anybody would be paying attention to this thread since its a couple of years old. I was looking into PL steel pennies, and thats how I came to this post.

[physics-fan3.14]

 

As someone who works with PL coins every day, and knows more about them, I can tell you that this piece is in demand as a 67PL, and I would place a value on it around $500-700.

 

I would pay that for this coin. In a heartbeat.

 

And yes, that is an offer to buy, if anyone has this coin.

 

[brg5658]

This is supposedly the only prooflike graded steel war cent and it was on Ebay recently. If it is the only one, why hasn't NGC done an article on it in their news?

Certification #: 171727-005

 

Since it is your coin that you are selling, perhaps you should be the one writing the article?

 

Prooflike steel cents are not common, but they are not extremely uncommon. I've handled a couple over the years including one that had a nice cameo to it in a PCGS slab. I don't recall which mint, but it was MS66.

 

FYI: You're asking $2,995 for this coin. A regular MS67 sells for around $50. I do not believe that there is anywhere near that type of premium for this coin. I've sold many NGC graded PL coins where the pops were unique or extremely low. They do not bring large premiums. I'd guess your coin is worth 1/10 of what you are asking or even less.

 

As someone who works with PL coins every day, and knows more about them, I can tell you that this piece is in demand as a 67PL, and I would place a value on it around $500-700.

 

Yes, gmarguli's comments were also nearly 5 years old (from April 2009). This thread is extremely old -- Fudope has a tendency to "necro-post".

 

"necro-post"?

 

jom

 

I wish I could say I "coined" that term, but I didn't. It's used widely on internet forums.

[coinman1794]

This is supposedly the only prooflike graded steel war cent and it was on Ebay recently. If it is the only one, why hasn't NGC done an article on it in their news?

Certification #: 171727-005

 

Since it is your coin that you are selling, perhaps you should be the one writing the article?

 

Prooflike steel cents are not common, but they are not extremely uncommon. I've handled a couple over the years including one that had a nice cameo to it in a PCGS slab. I don't recall which mint, but it was MS66.

 

FYI: You're asking $2,995 for this coin. A regular MS67 sells for around $50. I do not believe that there is anywhere near that type of premium for this coin. I've sold many NGC graded PL coins where the pops were unique or extremely low. They do not bring large premiums. I'd guess your coin is worth 1/10 of what you are asking or even less.

 

As someone who works with PL coins every day, and knows more about them, I can tell you that this piece is in demand as a 67PL, and I would place a value on it around $500-700.

 

Yes, gmarguli's comments were also nearly 5 years old (from April 2009). This thread is extremely old -- Fudope has a tendency to "necro-post".

 

I remembered the coin and the topic, but I didn't realize it was the same thread that I originally posted in 5 years ago....sure enough, it is!

[coinman1794]

 

As someone who works with PL coins every day, and knows more about them, I can tell you that this piece is in demand as a 67PL, and I would place a value on it around $500-700.

 

I would pay that for this coin. In a heartbeat.

 

And yes, that is an offer to buy, if anyone has this coin.

 

I would be very pleased to acquire one in that range. I think it could go higher, on the right day.

[Fudope]

Youd be willing to pay that much for a steel penny graded MS67 PL? Who much? The $2995 price tag? or the $500-$700 dollar price tag?

[Fudope]

I dont think one could be had for $500-$700. There was only like 5 graded PL by NGC. I think its a little bit higher then that. How much, im not too sure.

[coinman1794]

I dont think one could be had for $500-$700. There was only like 5 graded PL by NGC. I think its a little bit higher then that. How much, im not too sure.

 

It's a tough coin, but the current population at NGC does not represent the total known population of PL examples.