2003 PCGS MS70 cent to be auctioned off tomorrow on Teletrade, any guesses?
mrc...@comcast.net
graded.
Teletrade has released this Press release:
The 2003 1¢ PCGS MS-70 Red
It took 20 years, but in August 2006, the Professional Coin Grading
Service (PCGS) finally assigned the MS-70 Red grade to a Lincoln cent
struck for circulation. This historic coin is a perfect 2003 Cent in
full Red MS-70 and is being offered in Teletrade®'s Premier Plus
auction to be held on Thursday, September 28, 2006.
Ian Russell, President of Teletrade® commented: "This is the first
time PCGS has given a circulation strike Lincoln cent the MS-70 Red
grade, and I am pleased Teletrade® was entrusted with its sale....
This is a rare opportunity to acquire the 2003 1c PCGS MS-70 Red, which
is likely to end up in one of the top Registry sets."
My guess $7388.00
Michael R
AKA mrae7 on Ebay/Yahoo
ANA #173222
K6AZ
If your guess is correct, that will be $7387.99 too much.
Back in 2000 when news of the type II cents got out I obtained four
$25 boxes of 2000 cents. Most looked perfect to me, and in my opinion
the "70" game is nothing but a lottery.
--
K6AZ Forum
mrc...@comcast.net
K6AZ wrote:
>
> If your guess is correct, that will be $7387.99 too much.
>
> Back in 2000 when news of the type II cents got out I obtained four
> $25 boxes of 2000 cents. Most looked perfect to me, and in my opinion
> the "70" game is nothing but a lottery.
I'm with you on that Eric, I wouldn't pay anywhere near that, but
others will.
mrc...@comcast.net
...gotta guess Eric?
Ira
I think one of the Registry boys wil buy it and as a guess, I'd say
$22,000. I don't make a market in modern material and I think high
grade modern stuff at high prices is caused by promotional hype, and I
wou'd want to be involved with it. Sure, I sell high grade Lincolns,
but mainly early material where's there are not hundreds of millions if
not billions that look nearly as good that haven'r been graded. I think
a MS-65 RD 1914-D Lincoln Cent, of which there are 54 at that level
with 3 one point finer, represents a far better expenditure of $$$ than
paying the same price for a modern coin where MS-69 is the norm! I'd
feel thta way even if I didn't have a MS-64RD and MS-65RD for sale.
There are rare dates in unc, ANY unc and in AU as well. A nice 2003 is
as common as dirt, IMHO.
Ira
Edwin Johnston
Then there is the alternative that blackjack dealer Wallace Shawn
offered rube Chevy Chase in National Lampoon's Vegas Vacation:
"Why don't you give me half the money you were going to bet then we'll
go out back, I'll kick you in the nuts and we'll call it a day!"
Harv
<mrc...@comcast.net> wrote in message
news:1159366406.7...@m73g2000cwd.googlegroups.com...
Just how much will it sell for, the first MS 70 PCGS business strike
graded.
Teletrade has released this Press release:
I'm gonna guess someone with more money than sense is gonna pay well over
$10,000 for it. How much more, I couldn't guess.
Maybe even $20,000.00 and for that kind of money you could get a nice High
Relief Saint. Or a new car. Or one helluva home theatre system. Or a
trans-Atlantic first class cabin on the QE2. Which would you rather have?
How many bajillion MS70 2003 cents are out there not in PCGS plastic? Well
so far, all but one of them.
This kind of thing really makes me wonder how many 70s I'd get back from
PCGS if I broke apart and submitted every coin in every Mint set I own. It
also makes me wonder how many cents whoever got that MS70 submitted to get
it. At what, $18 a pop? Anyway, my hunch is that Shirley it'll bring low
five figures and it's probably the most riduclous example of buying the
plastic that I have ever seen.
Maybe TeleTrade's site will melt down with all the people watching that
auction.
Harv
Alan Williams
I can tell you that my bid will be exactly the face value of the coin. ;-)
Alan
'tempted to bid it as bullion'
Alan Williams
Seconded. My favorite series. But odds that this single example is
unique, hands down, unequaled and unsurpassed 100% perfect 2003 Lincoln
Cent? I'd buy a bridge first, the odds are better.
Alan
'psst. Title transfers while you wait'
Gary Loveless
Whats the matter, Eric? You dont have any Morgans Graded MS70? :D :D
Then again, I dont think ANYONE does............
Regards,
Gary Loveless
Ed. Stoebenau
>Just how much will it sell for, the first MS 70 PCGS business strike
>graded.
>Teletrade has released this Press release:
>My guess $7388.00
That's nowhere near stupid enough. My guess is $60,000 plus
whatever fees Teletrade has. This is about $59,999 more than I'd
be willing to pay for it.
--
Ed. Stoebenau
a #143
K6AZ
>Whats the matter, Eric? You dont have any Morgans Graded MS70? :D :D
>
>Then again, I dont think ANYONE does............
The closest I have ever seen was a MS69 1896-S. Yes, you read that right,
1896-S. Obviously had to be a specimen of some sort. As perfect and well
struck as any early S mint.
Eric Babula
news:f1smh216a05ao8gci...@4ax.com:
I agree that $7K is not stupid enough. But, I don't know about $60K.
Considering this is 'the first ever' PCGS MS-70 for a modern US cent, it
carries a lot of weight with collectors of 'the best' - those with just
too much money. I'm sure it will stir quite a frenzy wit some. I'm gonna
have to side with Ira, but I think it'll pull a higher $20K - maybe
$26,000.
BTW - I won't be contributing to the crashing of Teletrade's site. Don't
care enough to even look at it, much less actually bid on it. I'm sure
I'll read the results on RCC shortly after the auction ends.
--
Eric Babula
Milwaukee, Wisconsin, USA
Edwin Johnston
The only reason someone would bid so high for an object, is with the
thought that down the line someone will pay even more than that to him
or her for it, thus securing a profit. In that sense it is speculative.
Harv
"Eric Babula" <eba...@care2.com> wrote in message
news:Xns984C420E242E...@66.192.254.230...
There very well may be no results if the seller has put an insanely high
buy-back on the slab. For those who have never used TeleTrade, you add any
slab you want to watch or bid on in one of their auctions to your "Track and
bid" list and you can follow the bidding as the auction is going on. As soon
as the auction ends, the bid price of anything in your Tracking list you
were watching changes to (pending) - if a slab actually sells, its hammer
price (not including the Buyer's fee, tax, and shipping..) .. appears a
couple hours later. If it doesn't sell, it simply vanishes from the list.
Unlike your "my eBay" page on TeleTrade, your tracked lots NEVER go away
unless you choose to delete them, so my list contains every coin I've ever
won from them if I want to print out a history orlook back and see what I
bought when and how much I paid for it. This leads to some fun if you do a
search for a particular coin / grade / mm / slabbing company and want to
view the entire history of selling prices of identical slabs going back ten
years.
So if the seller of this LQQK LQQK RARE!! cent has put a $50,000.00 reserve
on it and it gets bid up to $25,000.00 or whatever, the second the auction
closes at 7:01:00 PT, the price will change to (pending) and then will,
after a couple hours change to either the realized price, or if it doesn't
sell, it'll totally vanish. I believe TeleTrade then re-schedules it to
auto-re-list up to two or three more times, spaced a couple of auctions
apart, as part of the sellers' agreement with them. Although I have never
sold anything through them, just bid and won (although I've lost more often
than I've won)..
The whole TeleTrade paradigm for bidding is radically different than eBay,
but it is also highly consistant. They have made very minor change to their
site's features over the years, unlike eBay who seems to make feature
changes constantly. One thing I like about TeleTrade sthat their entire ten
year history, every single slab they have ever sold, is still online. If
you're registered with them, you can search their price guide going back ten
years. If you're not registered or not logged in, the search only goes back
60 days.
By the way, I got the PCGS MS70 1987-W $5.00 Constitution Gold I won for
$200.00 on Sunday in yesterday's (Wednesday's) mail. Staring at it closely,
I see what looks like some faint, reddish toning here and there on both
sides, but not a single tick or tap or nick anywhere. This leads me to
believe I migh have some other Moderns which might make PCGS 70.. but who
knows. I have others in MS69 slabs that look every bit as "perfect" or even
"perfecter" than this one. They shipped it as usual in a Saf-T-Mailer inside
a paper-taped padded mailer but with no delivery or signature confirmation
on it. I think the threshold for those stickers is a win of $300.00 or more
in a single package. I HAVE gotten coins from them literally the day after I
won and paid, but in this case, I hexed myself by saying so in an earlier
posting, so this coin took two days. :-/ ..
Harv
winwin
Eric Babula wrote:
> >>My guess $7388.00
> >
> > That's nowhere near stupid enough. My guess is $60,000 plus
> > whatever fees Teletrade has. This is about $59,999 more than I'd
> > be willing to pay for it.
>
figures.
The market for these modern rarities is influenced by the fact that
there are
so many unslabbed examples that could potentially inflate the field.
There
is a discount for the volatility factor in moderns.
Unless two registry guys without "cents" get into a bidding war, it
will
finish in the low four digits.
Regards,
Tom
Eric Babula
news:ananh2la1onl7hiud...@4ax.com:
Seen, or had?
Hell, the highest-graded Morgan I've ever had is an MS-65! A couple of
those (1881-S and 1883-CC) will be up for auction fairly soon. Gotta get
some $$ for a new digital camera, IF I can convince the boss!
Gary Loveless
That IS most impressive! Do you have a link to possible pics of this
coin?
Gary
Gary Loveless
Same here I currently own/posses only FOUR MS-65 Morgans outta the
200+ that I own..............
Gary
K6AZ
Phil DeMayo
> On Wed, 27 Sep 2006 20:13:39 -0400, Gary Loveless <m...@me.com> wrote:
>
> >Whats the matter, Eric? You dont have any Morgans Graded MS70? :D :D
> >
> >Then again, I dont think ANYONE does............
>
> The closest I have ever seen was a MS69 1896-S. Yes, you read that right,
> 1896-S. Obviously had to be a specimen of some sort. As perfect and well
> struck as any early S mint.
A quick look at the PCGS Registry confirmed my suspicion that this was
a Jack Lee. His set also contained a couple of other dates in MS-69.
I checked the NGC Census and apparently they have only graded 3 Morgans
at MS-69 and they were all 1880-S.
I also checked NGC for Proof Morgans and it appears that they have
graded 16 at 69....some just PF-69, some PF-69 Cameo and some PF-69
Ultra Cameo....some with a star for exceptional eye appeal and some
without.
They gave an 1895 PF-69 Ultra Cameo....but no star. Gee, it must be
butt ugly ;-)
Ira
Eric Babula wrote:
>
> I agree that $7K is not stupid enough. But, I don't know about $60K.
>
> Considering this is 'the first ever' PCGS MS-70 for a modern US cent, it
> carries a lot of weight with collectors of 'the best' - those with just
> too much money. I'm sure it will stir quite a frenzy wit some. I'm gonna
> have to side with Ira, but I think it'll pull a higher $20K - maybe
> $26,000.
>
> BTW - I won't be contributing to the crashing of Teletrade's site. Don't
> care enough to even look at it, much less actually bid on it. I'm sure
> I'll read the results on RCC shortly after the auction ends.
>
> --
> Eric Babula
> Milwaukee, Wisconsin, USA
Update: as of about 2:30 PM Pacific Time (Teletrade auction opens at 3
PM PT) bidding is up to $12,000. This should prove interesting. But, as
Harv has written, if seller put a huge reserve on the coin, price could
get well into the very stupid money range and still not sell. Still, it
must be an exceptional piece that has minute differences over a MS-69
2003 Lincoln cent. But for my money, I wouldn't buy it. Someone out
there must feel differently.
Ira
Ira
winwin wrote:
> I suspect that the final hammer price will be much less -- low four
> figures.
> The market for these modern rarities is influenced by the fact that
> there are
> so many unslabbed examples that could potentially inflate the field.
> There
> is a discount for the volatility factor in moderns.
>
> Unless two registry guys without "cents" get into a bidding war, it
> will
> finish in the low four digits.
>
> Regards,
> Tom
It's now at $13,000 at 3:52 PT without the juice with over 3 hs to go.
I'm sticking with my $20,000 guessitmate.
Ira
K6AZ
Ira,
How about telling us what kind of early Lincolns $13k would buy?
I'm sure you saw my comment earlier. Sheer lunacy for a number.
K6AZ
>Hell, the highest-graded Morgan I've ever had is an MS-65! A couple of
>those (1881-S and 1883-CC) will be up for auction fairly soon. Gotta get
>some $$ for a new digital camera, IF I can convince the boss!
Speaking of that, did you get my email the other day?
Harv
"winwin" <winwins...@aol.com> wrote in message
news:1159461982....@i3g2000cwc.googlegroups.com...
Up to $13,500.00 with a little over an hour to go..
Harv
K6AZ
I've actually seen that coin in person, and it is unbelievable.
I don't recall seeing a PF69UC, but I saw one in 68 in Charlotte, I believe it
was an 1882. That was a nice coin, would like to compare with a 69.
John D.
BTW, aren't those Heritage auction archives the best numismatic resource on
the net?
Ira
K6AZ wrote:
>
> Ira,
>
> How about telling us what kind of early Lincolns $13k would buy?
>
> I'm sure you saw my comment earlier. Sheer lunacy for a number.
> --
> K6AZ Forum
>
> http://www.k6az.com/forum/
$13K should by a decent 1914-S in MS-65 Rd (PCGS) also several S amd D
mints in the 20's, also for a couple of thou more a MS-66 RD 1922 D of
which there are only nine graded at PCGS. Also the rare 1922 No D str
rev in MS-61 BN and a rare 1926S in 64 Rd and a nice 1955 DDO 1c in
MS-64 Rd all PCGS. These are very tough coins in the grades mentioined
and no large quantity will be discovered.
Ira
K6AZ
Well it looks like it went for $13,500. Could have been a bid right at the end.
I'm just shaking my head. Is that one point for the registry worth this kind of
money? Not to me.
winwin
Ira wrote:
Update: as of about 2:30 PM Pacific Time (Teletrade auction opens at 3
> PM PT) bidding is up to $12,000
If the bidding starts as high as $12,000, it is because that is the
reserve price.
Coins without a reserve start at about half retail price expectation.
Coins with
a reserve (what in the Teletrade system is actually a "max bid" placed
by the
consignor more than 24 hours before the open of the auction) start
higher. A
bid this high is doubtless placed by the consignor, or the coin would
go for
much, much less.
Coins that are placed for marketing purposes, i.e. featured in their
advertising,
can receive special deals on fees. It is possible that this is an
arranged sale
that is being conducted on the auction site for publicity purposes.
Sometimes
the higher-end coins are moved from Teletrade to other Greg
Manning/Escala
auctions for marketing purposes; sometimes they are sold on Teletrade
with
special publicity.
I suspect this is just a marketing gimmick to attract bidders to their
Thursday
special auction, because they usually only have coin auctions on
Sunday,
Monday and Wednesday.
Regards,
Tom
Harv
It sold for $13,500.00 plus one helluva lot of frozen concentrated orange
"juice" plus shipping plus tax, depending on where the "lucky" winner lives.
Harv
Ed. Stoebenau
Well, I was right to w/i an order of magnitude.
Eric Babula
news:sqqoh2d9pqm6hoi79...@4ax.com:
Oh, yeah I did, but I forgot to respond. Sorry. I'll go back and look at
it in a few minutes.
Eric Babula
news:nlvoh2lpfk6f2dta6...@4ax.com:
I'm actually shocked that it didn't go for even stupider money. I'll
admit - curiosity got to me, and I just peeked at the picture on
Teletrade. Nice coin - worth about $50 IMO.
Gimme a Morgan any day.
Harv
> > Well it looks like it went for $13,500. Could have been a bid right
> > at the end.
I was reloading the page right up to when the auction closed at 7:01:00 PT
and indeed the final bid that bumped it up from $13,000.00 to $13,500.00 was
placed seconds before it closed.
Harv
Gary Loveless
Thanks Eric! That MOrgan IS Impressive! So IS the price tag! 402.5K
with the juice......and a Jack Lee pedigree no less.....
Gary
bri
<mrc...@comcast.net> wrote in message
news:1159366406.7...@m73g2000cwd.googlegroups.com...
Just how much will it sell for, the first MS 70 PCGS business strike
graded.
Teletrade has released this Press release:
The 2003 1¢ PCGS MS-70 Red
It took 20 years, but in August 2006, the Professional Coin Grading
Service (PCGS) finally assigned the MS-70 Red grade to a Lincoln cent
struck for circulation. This historic coin is a perfect 2003 Cent in
full Red MS-70 and is being offered in Teletrade®'s Premier Plus
auction to be held on Thursday, September 28, 2006.
Ian Russell, President of Teletrade® commented: "This is the first
time PCGS has given a circulation strike Lincoln cent the MS-70 Red
grade, and I am pleased Teletrade® was entrusted with its sale....
This is a rare opportunity to acquire the 2003 1c PCGS MS-70 Red, which
is likely to end up in one of the top Registry sets."
My guess $7388.00
Michael R
AKA mrae7 on Ebay/Yahoo
ANA #173222
That would make sense--I had found that 2003's are an excellent year for
Zincolns as far as quality goes. I found a whole roll of MS67+ back then. I
still have a few left--but they're no 70 that's for sure. They most all
developed carbon spots.
The best ones I put inside 2x2's are getting darker but no spots yet. I'll
bet that one 70 will get spots over time unless they store it in a very
stable environment.
And if I owned it I would only allow people to see it if they were wearing a
mask--someone's burrito-breath would kill it for sure. Even in a slab you
just can't be too sure about some kind of noxious fumes getting inside.
bri
"Ira" <ir...@aol.com> wrote in message
news:1159492616....@m7g2000cwm.googlegroups.com...
See the thing of it is that those much older cents have sort-of 'stabilized'
so there is a much less of a chance at those getting carbon spots on
them--unless someone doesn't store them properly or they breathe all over
them.
Something as new as a 2003? All bets are off with something like that for
sure.