Lincoln Collections

I always go back to my lincoln collection in my circles of coin collecting. I started way back with filling a whitman press-in book, then it was getting BU red coins as far back as I could. Now I am at a crossroads. I have ungraded coins in BU Red condition all the way back to 1934. I estimate most grade MS63-MS65.

Now I am thinking...as long as I am spending "premium" dollar on continuing my collection, maybe I should redirect a bit. Instead of getting BU coins back farther (maybe to 1930) I might be better served in long-term value by collecting PCGS graded MS65RD coins from 1930-1959, then maybe 1960-current. I know common date coins are fairly easy to come by for a good price in these dates. Has anybody else gone this route? I am looking for advice from experience. I am not quite sure where my lincoln collection is going next...

...in the meantime I might as well pick up another box of cents and see what treasures I find...

 

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I'm not exactly sure of what you're asking. I think you are wondering if you should put your raw set on the back burner and start collecting MS65RD's back to 1930. And then later upgrade your modern raw Lincolns with more slabbed gems.

With a few exceptions, PCGS-graded Lincolns at MS65RD, back to 1930, are reasonably affordable. Some of the earliest MM ones can get up there (like the '31-D and '31-S) but most can be had without breaking the bank.

This won't be an inexpensive effort but could be a lot of fun. If you're devoted to Lincolns go for it. Be patient and be picky.
Lance.

 

But for most dates, 65's will be very hard to find. For a lot of dates, you can get 66's for less than $10 each.

 

Zincolns, maybe. But nothing before that (though I'm sure there are a few deals to be had).
Lance.

 

When I do wheats, I'm gonna go 66/65 on most of the later dates, and then try to pick up whatever RD coins I can afford in the earlier years.

 

Personally, I'd focus on 1909-1932 in the best possible grades you can afford. In fact, I'd be inclined to sell your current 1934-up set to generate cash to fund it. The 1934 up coins are pretty common and easy to obtain even in slabs. Guess I like the challenge, but that's what I'd do if in your shoes.

 

I have focused all my coin collecting on Lincoln cents for the last 5 years attempting a mint state short set (1909-1933 is 70 coins). I'm mostly interested in the coins from the teens due to the high craftsmanship and detail. For later dates they are lacking as the detail is a simple mound where the beard and hair go and get even worse when they go to a lower relief in modern dates. I also like a challenge and the early dates are tough in high grades and heavily contested at auction. I have found though that the advertised keys are pretty easy, and I'm stumped on the 1914 S, 1923 S, and the 1926 D. I hope to find at least one of these this year in my target grade and when I do, I'll prob be out of money after that for a while, but I'm into delaying gratification for a better coin instead of buying lots of lesser quality coins. Whatever color designation you chose to chase, make the coins ones that a loved one would want to keep or that a dealer would trip over to get to handle, not ones that will be a burden to be rid of in the future. JMO

 

Thanks for the input guys. I think I may actually go 3 ways with my collection.

1. I have a few coins in the 1934-2011 set that I would like to upgrade to match with the rest of the collection. Some have off color/toning/marks/etc. Just to finish a solid raw MSRD collection from 1934-2011. I just could never bring myself to sell this, its where I started with coin collecting...too much sentimental value.

2. Upgrade/complete my 1909-1933 set with higher-grade coins (still raw). Keeping with the XF/AU Brown grade and seeing what I can do to build a nice consistant complete set. I am still missing a 09-S, 09-Svdb, 14-d, 22(no D), and 31-s.

3. Start up a 1930-1939 MS65RD slabbed collection. This fits my price range and desires the best. I would love to go back to 1920, but I can't afford it at this time. Might even pick up 1940-1959 coins in MS65RD if I find one for a steal (I see some go on ebay for less than $10 PCGS...). I have a feeling when I finally get my 1930-1939 collection, I will want to expand, and at that time going 1940-1959 will probably be a lot less expensive than going earlier.

Well, I am off! If anybody has a bunch of XF/AU Brown teens and 20's they are looking to get rid of, send me a PM.

Wait...maybe I should finish my raw BU Roosies instead...

 

EXACTLY! :thumb:

 

I don't see anything wrong with taking different approaches. Personally, I built this set of wheaties over many years. It's complete but I'll always upgrade. And then I did an XF/AU raw set 1909-1940, Library of coins, also complete.

I like to build serially instead of going several directions at once. I focus better. But we're all different.

#2 above appeals to me most. Anything after 1932 is readily available, affordable, and has consistent quality. No special challenge. The fun and sometimes frustrating part of collecting Lincolns is the first twenty years or so.
Lance.

 

Wow Lance, that 09vdb is sure a beauty. I can only imagine if it weren't for those couple small spots it might have gone MS68! It looks like you have a great deal of time/effort/searching/money tied up in this set, but it is amazing. Something about the color of that 1936P gets me every time. I love that shade in a cent. Thats my favorite!

I would love a similar collection raw in AU55 Brown...kind of an "every man's" version of your collection. Probably more attainable considering my finances. A collection like yours is something I only seem to read about. Great job. I assumed with as much as you have worked on it, you are probably still keeping your eyes out for upgrades. There are a few coins with some double-digit population higher figures in there and if it were me I would always wonder what more I could do.

Do you also have a Lincoln Memorial Collection to match? I know once the obsession starts its often hard to stop...

 

Thanks, nojreyd. I started that set a long time ago and most pieces prior to 1940 have been replaced more than once. I'll never get my money out of it but that's not what collecting is about, right?

I keep a "want list" with some dealers, should the right upgrades appear. I have been waiting more than a few years for some.

A full set of business strike wheaties is something like 144 coins. That's as far as I want to go. Actually, I do have another 14 memorial cents, '59-'64, because there's some other registry set PCGS calls the "classic set". They're 64-66RD and I'm not proud of a single one of them. Getting much nicer ones will do nothing for my standing and I'm not a fan anyway, so I tolerate them.

If I go anywhere further with Lincolns it will be matte proofs. But right now I'm trying to finish a full run of cents from 1793 through 1958. I need another 20 or so. Some are very dear. You should see the POS chain cent I picked up recently. PCGS FR2. LOL.
Lance.

 

Collecting high-grade RD copper in TPG slabs is a bad idea, IMO. Too much risk of mellowing costing you money and with PCGS' change in policy on copper and NGC's guarantee only valid for 10 years, it only gets worse. Personally, I would collect them in RB or BN, but in the end each of us should collect what we like the most. Sincerely, Another copper collector

 

I hear you, LF. RB and BN Lincolns can sometimes be spectacular. Personally, I love them.

But clearly RD Lincolns are valued far in excess of RB or BN. Stunning difference in value to high-end collectors. Said another way, RB and BN can be quite affordable.

PCGS's change in copper color guarantee only applies to coins graded or sold after 12/31/09. Many of us built sets well before then and are content with the legacy guarantee.
Lance.

 

PCGS FR2 must be a real beauty. Just a slab of metal but if you hold it just right you can make out a date?

I am once again chaning my mind and after looking at some of my current coins and shopping around a bit, I think I may look at developing a raw collection 1909-1933 in RB/BN in XF/AU condition. I have a thing for coins with that "touch of luster". Seems just last week roll searching my favorite pull was a 1957-D in AU with the perfect "touch of luster" coloration. I dunno why, but I like it. Plus I think that will "set my collection apart". I don't have to worry about any sort of financial loss due to toning over the years, plus picking up these coins will be both easier and less expensive, but will still be a challenge to find the right coins. (clean fields, the right color, no spots, etc).

Here is a picture of a 1926 and a 1909 I saved (the '26 is mine, the '09 is just like one of mine but a stock photo from the internet). Something about this color pattern says "these coins are still out there". Inspires the treasure hunter in all of us, right? Plus they have so much more character than a Blast Red coin.

 

I just though of this analogy I figured you guys would like.

Blast Red is a supermodel. These coins are the girl next door.

(or the guy next door for you ladies on here )

I guess by those standards Lance must be an NFL quarter back. Or maybe your last name is Armstrong?

 

Nah. I'm small potatoes compared to the real superstars, like Stewart Blay and Thomas Irwin. My registry set is somewhere around #7 at NGC and #11 at PCGS. The nicer sets are unbelievable. Many times more valuable.

Lincoln cents are probably the most popular collected coins in the world. And some folks have spent very big bucks to build amazing sets.

If I'm not mistaken I believe Mr. Blay has the market cornered on PCGS MS67RD 1909-S VDB's. Only nine exist and he owns seven. He has a very generous, very serious offer to buy any other ones that come along.
Lance.

 

Ok, so maybe you are a Detoit Lions QB. They are small potatoes compared to Tom Brady I guess.

I have heard about some of these "super collections". PCGS lists a complete date/mint set of 09-59 in MS65 at a value of $34,000. I believe there a few sets that are mostly 66's, and maybe 1-2 sets that have a high number of 67's. I can imagine they are exponentially more valuable...and probably something you would never dream of getting your money back out.

So you are saying if I get a 1909-S VBD in change at the gas station and it looks MS67 I will have no trouble selling it? If more exist, I wonder where they are. I am going to have to start hitting up more estate sales out in the country I guess.

I am on the other end of the spectrum. I probably only have $500-$700 invested into my lincoln collection so far. I hunt for deals and pick up coins at the very low end of their price spectrum only. In my new endeavor (my RB AU collection), I am hoping to spend less than $20 per coin on almost every coin 1920-1933 (obviously some will be more). That grade you can often times find people selling something that they don't really know what it is and not many people are looking for it.

Its hard to hide a MS66+ coin.

 

If there's any more '09-S VDB's in 65 or higher, I doubt they're out there in Joe Blow's collection, they're probably in original rolls that have yet to be broken open.

 

I just did some rennovations on our house last month. Its was built in 1920 (old farm house). I was really hoping to find some old rolls in the wall but I found nothing. I will for sure be tossing a bag of average coins in the wall before the new drywall goes up next week. Somebody someday will find it! Maybe in 50 years people will be looking for a great Mint-State 1992 penny, right?

I would say the same thing but I did see a "joe blow" collection one time in an old whitman folder and the thing had a 1926-S that I swear would have gone minimum MS63 just pressed right in. It was RD/BN in color, but my jaw dropped. I guess it was a collection from the 60's that was handed down or something. Strange.