What is a 1955 Lincoln PCGS MS67RD worth - sight unseen!?

Warning! Long winded thought provoking (maybe just lame) post ahead!

This is for those who have purchased or have thought about buying a slabbed non-gold High grade US coin either as an investment, resale or as an opportunity just begging to have a number thrown at it. Not as a coin to fill a hole in your collection.

Ignoring the fundamental rule of buy the coin not the label. However, you determined when it was approximately slabbed by the style of label.

What if the coin is not available to see, due to long distance, no or poor photos available. Either third party purchase and/or seller not available to speak to you. etc

Presume the seller is either not aware of value, or is taking offers, or has to sell quick (time is of the essence, no bargaining, you got one shot).

Assume authentic and that the slab isn't damaged or any other major problem that would destroy the value.

Factor out ethics! Factor in, the coin is being offered for sale, the seller does not know you, you don't really know/haven't met the seller.

Assume for U.S. Coins that are over $500 TPG posted value - (too low a value to make an offer?) minimum value? Minimum grade of MS65? (too low?)

Exclude the well known Auctions and that the sale is final - no returns.

Would you pay up to the next lower grade level? IN other words, label states MS67 you would offer MS66 TPG money?

Do you use a percentage/formula you would pay sight unseen for PCGS or NGC High value slabs?

I know each series/denomination/popularity/scarcity can have dramatic affect. So again, assume only High Grade Common yet Popular US Coins


As a random example what would you offer sight unseen for:

1955 Lincoln PCGS MS67RD - slabbed during 2002-04.

PCGS lists the value at 5k - Pop=14 none higher - (3500) MS65 and better
NGC MS67RD is at $660 - Pop=50 (1000) MS65 and better
Numismedia=$660


Certainly hose who have been buying and selling coins for many years certainly have done this. Hit a home run- broke even or wish they hadn't been so dumb.. What happened?

Even if this sounds crazy/stupid/lame/immoral/unethical, even if you would never actually buy a coin sight unseen (too scary etc)... what if...... Your opinions count!. This is my brain teaser for the Happy Holidays!

Thank you in advance for taking the time to give me your thoughts.

 

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To me it is worth One Cent sight unseen. To others it might be valued higher.

 

I think the difference between the NGC and PCGS values is crazy. No way I'd pay for the PCGS slab, I don't care what past sales show. I'd offer NGC 67 money or I'd just buy an NGC 67 if I just had to have a 67 1955 in plastic. Sorry, I don't pay for plastic, especially when it costs several thousand dollars.

 

I've only bought coins sight-unseen like that where I know there to be a return policy if the coin ends up being a dog.

However, in your hypothetical if there is no return policy and I had to make an offer on it I'd do a little research on auction sales of the PCGS 67RDs and see what they really sell for. Then I'd make an offer of maybe 25% less than the low-end auction prices. If I had to sell the coin at Heritage for example, I'd have to pay at least 15% in fees so there's really only around 10% to play with there after that. But in any event, even if the coin is spotted and is a dog, there is a pretty strong market for a pop 14/0 PCGS graded Lincoln as there are lots of people with Registry sets that buy the labels vs. the coins. And the worst case scenario, if you can't even sell the coin for what you paid for it or close to it, you could send it to PCGS under their grading guarantee and see if they will regrade to the right grade and compensate. Remember though, that's harder to do now that PCGS no longer guarantees the color of copper coins purchased post-2009. But I'm guessing if the coin would be bad enough to not be looked at as an MS67RD, it's probably not going to be an MS67RB either and would probably be knocked down to 63RB or 64RB if it really has turned in the holder and PCGS would be interested in getting it out of their 67RD holder.

Of course, with a gamble like this, you could always end up with a real gem of a coin and it may really be a 67+RD in quality.

Like I said, I'd only play this gamble if I really needed that coin in that grade and I knew it was rare... pop 14 isn't exactly rare so I'd insist on seeing the coin first or having a return privilege. But if you're going after a pop 3 1909 VDB Lincoln Cent in MS67RB for example, you do whatever it takes to get that coin!!!

 

Bingo.. that's where I was heading. Just in a quick check, it looked like most of the '55 - 67RD coins are already owned by registry set competitors. So the low pop label itself has a lot of value/large market, given the number of Lincoln registry sets... So not only is there coin collecting, there is label collecting, I also found that types of labels within the TPG's are collected. What is the rare PCGS label? The doily?


Anyways As always, a slabbed coin is only worth what someone is willing to pay for it. Some will pay for the coin, other might pay for the label. Frankly, I would pay for plastic, especially if I was confident I could sell it for double what I paid. THat goes for anything. SO if anyone has anything to sell at half proven value, let me know!

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How about begging?





I mean it does feel demeaning and all - isn't that the epitome of "whatever it takes"

OK - I'll go full value according to PCGS for just one those 67RB vdb's, isn't that just dumb and plain craaaaaazy!?:yes:

ok ok ok ok how about I'll throw my left n.t in. and my oldest child :devil: ........ what do you mean the price doubled?


Gotta get my excercise............................... in futility!






I lost out on that 67RD for 1k - one part of me is glad, the other is ****ed- having it over again - I should have gone 2k - I just couldn't believe that a 55 Lincoln at 67RD was valued at that much - I kept thinking typo! Guess I was wrong. I contend that not enough have been submitted and that the population will dramatically increase as time goes on. Not sure what it sold for - private sale - and seller won't say

Makes me wonder what is wrong with the 55? no wonder the rolls go for $100 or is that the possibility of a DDO driving that?

There is something else. I really consider all online sales, regardless if there are photos or not, sight unseen - of course unless I took the pics

 

A thousand bucks is reasonable, just a bit over NGC and under the PCGS by a mile. This will bring the values down if the sale is known to PCGS. LOL

Yep, a BU DDO would be worth a lot more than a "plain" 67. The real question....are there truly any unopened 1955 OBW's left in the world? Who would risk selling one, even for $100 when a $5000 coin could be inside?