2003 PCGS70 1C: Sell it fast.

[truthteller]

I was reading this thread across the street.

 

 

http://forums.collectors.com/messageview.cfm?catid=26&threadid=541465&STARTPAGE=2

 

 

It appears two spots or discolorations are now forming. One in front of Lincoln's nose in the obverse and one in the "I" of AMERICA on the reverse. Will this affect the price? Will PCGS eventually disavow this coin if the spots get dark?

 

 

 

TRUTH

[gmarguli]

I examined the coin at Long Beach. I took my time. There were no spots on it. What they are seeing is likely poor imaging.

 

However, the coin does have a hairline on the shoulder, isn't struck up as much as an MS70 should be, and is overall rather average looking.

[Morgannut]

What did sell at Teletrade at?? Or was it no-sale??

[gmarguli]

The auction is on the 28th I believe.

[Tootawl]

The auction is on the 28th I believe.

You are correct.

[JamminJ]

Any guesses on what it will bring?

[gmarguli]

A hell of a lot more than it should.

[Brotherman]

I’m really mystified at all the hype on this coin.

 

If there is indeed a hairline on the shoulder then the coin is just an

over-graded MS67/68. With the proper grade on the holder it would be

worth around 25 bucks. I’ve read over and over the older guys saying “Buy

the coin NOT the holder, buy the coin NOT the holder…” However, in the real

world it seems to work the other way.

 

I think the real test is this: Would this coin be worth a ton of money if it

were cracked out of the holder? In theory it should be – in this case it wouldn’t.

 

I wouldn’t pay more than $25 for it – JMHO.

 

Hays

[Doogy]

call me a conspiracy theorist, but..........

 

I think i remember reading that PCGS has graded something like 160k business strike pennies, with this being the first MS70 (although i remember the fabled 1963 cent getting and MS70, before developing spots and being purchased by PCGS).

 

The coin market is beginning to soften a bit, according to some people. I think they NEEDED an MS70 at this time to get everyone all hot and bothered to start slabbing more. In the end, the owner makes a mint off a penny, and PCGS makes out like bandits with tons of new submissions after the elusive MS70.

 

As for price, I don't know.....I wouldn't be surprised if it goes over $25k though. Someone with deep pockets and little collecting knowledge (i.e. investor) will scoop it up.

 

 

Doug

[JamminJ]

although i remember the fabled 1963 cent getting and MS70, before developing spots and being purchased by PCGS

 

I think that one was a proof.

[James_OldeTowne]

Any guesses on what it will bring?

The coin will bring about ten cents . The holder will bring thousands of dollars.