PL Ike $....

[TonerGuy]

I see that NGC has graded 1...

 

Anyone got photos of it ? I know there are some PL lovers on this board.

 

I think I might have a close candidate. I pulled a 71-D out of a $1000 bag that has some definite cameo contrast with mirror like fields on both the reverse and obverse but I dont know if its quite enough to get me to the promised land.

 

Thanks in advance.

[coinman_23885]

It recently sold with crumby images. The images make the coin look not proof like and like the coin is a mechanical error. Because he could not take better pictures, I told him if he could get it CACed (which considers PL tendencies) I would increase my offer considerably. It never showed up with a sticker so I don't know if he submitted it or not (this was a few months ago). In short, I think it is a poor example to judge an Ike by (at least by the images), but your coin sounds promising.

 

http://www.ebay.com/itm/1976-D-Type-2-Eisenhower-Dollar-NGC-MS-65-PL-Top-Pop-/291340918544?pt=Coins_US_Individual&hash=item43d5459f10&nma=true&si=zxgELlwWBYe3kRkKkhgByQdIOqA%253D&orig_cvip=true&rt=nc&_trksid=p2047675.l2557

[physics-fan3.14]

As Kenny mentioned, it was on Ebay until very recently. He had it listed at $1100. I offered him $500 for it when he first listed it 2 years ago (the price I think it was worth), and he turned me down. Last year, I offered him $750, and he turned me down again. It eventually sold a couple of weeks ago for $900 (which is considerably more than it is worth). I have no idea if the coin actually warranted the PL designation or not.

 

I will say though, semi-prooflike Ikes are not unheard of. I have one myself. They have a satiny sheen in the fields, but lack the mirrors necessary for the designation.

[furham-migration]

I'm surprised actually it got in a 65 slab, unless a lot of the scratches are on the slab.

[jerseycat10]

As Kenny mentioned, it was on Ebay until very recently. He had it listed at $1100. I offered him $500 for it when he first listed it 2 years ago (the price I think it was worth), and he turned me down. Last year, I offered him $750, and he turned me down again. It eventually sold a couple of weeks ago for $900 (which is considerably more than it is worth). I have no idea if the coin actually warranted the PL designation or not.

 

I will say though, semi-prooflike Ikes are not unheard of. I have one myself. They have a satiny sheen in the fields, but lack the mirrors necessary for the designation.

 

So you were willing to pay $750 for an Eisenhower based on a designation that may or may not have been warranted?

[RWB]

...reminds me of "hopeful stretching."

[physics-fan3.14]

As Kenny mentioned, it was on Ebay until very recently. He had it listed at $1100. I offered him $500 for it when he first listed it 2 years ago (the price I think it was worth), and he turned me down. Last year, I offered him $750, and he turned me down again. It eventually sold a couple of weeks ago for $900 (which is considerably more than it is worth). I have no idea if the coin actually warranted the PL designation or not.

 

I will say though, semi-prooflike Ikes are not unheard of. I have one myself. They have a satiny sheen in the fields, but lack the mirrors necessary for the designation.

 

So you were willing to pay $750 for an Eisenhower based on a designation that may or may not have been warranted?

 

I have sufficient confidence in my abilities as a grader to judge whether or not the designation was warranted or not. If it was, I would have kept it and absorbed the high price. If it wasn't, I would have returned it.

[TonerGuy]

As Kenny mentioned, it was on Ebay until very recently. He had it listed at $1100. I offered him $500 for it when he first listed it 2 years ago (the price I think it was worth), and he turned me down. Last year, I offered him $750, and he turned me down again. It eventually sold a couple of weeks ago for $900 (which is considerably more than it is worth). I have no idea if the coin actually warranted the PL designation or not.

 

I will say though, semi-prooflike Ikes are not unheard of. I have one myself. They have a satiny sheen in the fields, but lack the mirrors necessary for the designation.

 

If it is a true PL - why do you think its not worth $900 ? It seems to be a 1 of a kind coin.

 

Ive been through about 8000 Ikes and this is the first one that Ive found that is even semi-prooflike. I doubt that it is because of the reasons you have stated (its frosty but the mirrors might not be there) but a true PL Ike would seem to be an exceedingly rare designated coin.

[coinman_23885]

As Kenny mentioned, it was on Ebay until very recently. He had it listed at $1100. I offered him $500 for it when he first listed it 2 years ago (the price I think it was worth), and he turned me down. Last year, I offered him $750, and he turned me down again. It eventually sold a couple of weeks ago for $900 (which is considerably more than it is worth). I have no idea if the coin actually warranted the PL designation or not.

 

I will say though, semi-prooflike Ikes are not unheard of. I have one myself. They have a satiny sheen in the fields, but lack the mirrors necessary for the designation.

 

If it is a true PL - why do you think its not worth $900 ? It seems to be a 1 of a kind coin.

 

Ive been through about 8000 Ikes and this is the first one that Ive found that is even semi-prooflike. I doubt that it is because of the reasons you have stated (its frosty but the mirrors might not be there) but a true PL Ike would seem to be an exceedingly rare designated coin.

 

I offer no estimate of a true PL Ike's value. I comment only to say that rarity (supply) is not the only factor in pricing. The other is demand. There are few collectors building PL type sets. There are plenty of scarcer to rare coins that sell for sums substantially less than what you expect. I own one coin that only has a population of two for the designation, and mine is the sole finest, yet it sells for substantially less than I would otherwise expect. I do understand where you are coming from though.

[physics-fan3.14]

As Kenny mentioned, it was on Ebay until very recently. He had it listed at $1100. I offered him $500 for it when he first listed it 2 years ago (the price I think it was worth), and he turned me down. Last year, I offered him $750, and he turned me down again. It eventually sold a couple of weeks ago for $900 (which is considerably more than it is worth). I have no idea if the coin actually warranted the PL designation or not.

 

I will say though, semi-prooflike Ikes are not unheard of. I have one myself. They have a satiny sheen in the fields, but lack the mirrors necessary for the designation.

 

If it is a true PL - why do you think its not worth $900 ? It seems to be a 1 of a kind coin.

 

Ive been through about 8000 Ikes and this is the first one that Ive found that is even semi-prooflike. I doubt that it is because of the reasons you have stated (its frosty but the mirrors might not be there) but a true PL Ike would seem to be an exceedingly rare designated coin.

 

Sure, it may be an exceedingly rare coin, but if not many people want it, then 2 or 3 coins can satisfy the entire demand. For example, I have at least 3 coins where they are the only ones designated *for the entire series* and I only paid a slight premium for them.

[TonerGuy]

Well I definitely think that values will rise. PL coins are a very cool subset and I think as you guys post more photos you will gain buyers. I have thought about it but I cant spread too thin. But if I were to do a Type Set it would definitely be heavily PL where I could find examples. I see this niche heating up someday.

[physics-fan3.14]

. But if I were to do a Type Set it would definitely be heavily PL where I could find examples. I see this niche heating up someday.

 

Oh man, I don't need any more competition!

[mumu]

. But if I were to do a Type Set it would definitely be heavily PL where I could find examples. I see this niche heating up someday.

 

Oh man, I don't need any more competition!

 

Pretty sure youre not the first/only PL collector. You seem to post as if you are a lot. I just think the other PL collectors were smart to keep quiet while hoarding.

[physics-fan3.14]

. But if I were to do a Type Set it would definitely be heavily PL where I could find examples. I see this niche heating up someday.

 

Oh man, I don't need any more competition!

 

Pretty sure youre not the first/only PL collector. You seem to post as if you are a lot. I just think the other PL collectors were smart to keep quiet while hoarding.

 

I certainly don't think I'm the only PL collector. The large premiums for these coins wouldn't exist if I was. And, I was just joking around with TonerGuy.

 

However, based on the puzzled and confused looks that dealers give me when I ask for PL coins, or show them mine, I'm guessing there are very few of us.

[TonerGuy]

However, based on the puzzled and confused looks that dealers give me when I ask for PL coins, or show them mine, I'm guessing there are very few of us.

 

I know that look well. Same look I got from dealers 15+ yrs ago when I started collecting toned Peace $...

 

And now look what has happened. Keep collecting and keep pushing the prices up. And keep buying anything PL you can get you hands on for a good price because those good prices wont last for much longer.

 

I look back on toned Peace $ I sold 10+ yrs ago and wish someone hit me upside my head and told me to keep them... coins I bought for $35 sold for $50 which would be $300+ now.

[World Colonial]

Unlike the recent threads covering Ikes and Washington quarters, I think these have potential. Its another form of specilization which only requires a small number of collectors to compete for a limited or very limited supply. I have this opinion not just for Ikes, but PL generally.

 

To the extent it does occur though, I concurrently believe it will primarily be driven by the grade, as it is for "special designation strikes" such as FS Jefferson nickels.

 

One of the biggest problems financially may be if there are too few of them. I don't believe there are more than a very few collectors (if any) who are going to pay very high prices for this narrow form of rarity. By very high price, i mean by US coin standards. I wouldn't pay $900 for the example used here but the price isn't disproportionate to other forms of specialization.