Am I missing something here?

$825 for a satin penny?
http://www.ebay.com/itm/2005-1c-PCG...83?pt=Coins_US_Individual&hash=item2c63dc122f

 

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It is over $1200 now. I guess registry set folks want it because only 18 MS70 PCGS examples exist. TC

 

Odd.. it was at $825 with 14 bids, now its over $1200 with.....14 bids...odd.

I can think of all the coins I could buy for $1200 but it would definitely not be that one.

 

Yeah, the other 658 gazillion reside in my safety deposit box. Muy estupido.......

 

There are only 18 graded the same. You know why? Because it's a 6 year old cent....and only 18 have been sent to be graded.
Who the heck would even send in these new cents, let alone buy them for outrageous prices. Look at the other modern cents for that collection. I'm sorry, but these bidders are nuts.
I guess money is all relative. :smile $1200 is pocket change to some people.

 

It's part of the Registry set hype they are selling on eBay. They have touted this set for a long time, and some fish have taken the bait. Big time, I might add.

 

What's a registry set?

 

http://www.pcgs.com/setregistry/

Go nuts

 

Its what competitive collectors use to make them feel better about their coins :yes:

 

For some maybe, but I don't think your blanket statement is fair.

 

I don't understand the registry set bidding on new coins. No one has any idea what else will be found, I mean people are still pulling BU rolls of 1960 coins out from some relative's collection. I just don't understand how anyone can think a 5 year old penny is rare... I get it on something from the 1800's, most of the real nice stuff is known about not sitting in someones closet. There is no way I would pay a premium for a CC level coin unless I was pretty sure it would stay a CC coin...