GDJMSP requested pics of the 2003 MS70 Lincoln cent and here they are: For sale on Teletrade: The "Holy Grail" of Lincoln Cents
TT really has some quality small cent collections on tonight. I'm thinking the 70 may sell for around $80,000.
You know---just because this coin is in PCGS slab....and is graded that high grade of MS70 I bet it will go for a ton... NGC/PCGS/ANACS/ICG/PCI all of them are grading these coins higher and higher it seems....while I'm all for grading companies I'm almost to the place to buying only raw coins....grading companies are getting to me. Speedy
Wow, that went way cheaper than I had expected! At 3:04 PM when I last checked, it was already at $11,000.
People aren't blind - and there are plenty who remember the last time. There are also plenty who realize that the market for moderns has dropped over 50% in the past 2 years. So they aren't quite as anxious to spend rediculous sums on coins that are not what they are made out to be.
And what is that to the left of the Memorial on the reverse?! It is exceptionally nice, but I'm not convinced that it is perfect. But, I'm surprised that it closed at only thirteen-five. Maybe everyone saw the imperfections and didn't want to deal with an overgraded coin.
That is totaly silly to pay that much for that coin---and IMHO PCGS was silly to grade it that---Sorry Zane. I would love to know who sent the coin in to PGCS?...and if they sent in alot of coins..... Speedy
The guy who sent in the coin sent in many coins from my understanding. He made a post about it on the PCGS forum. As far as the coin being overgraded, I suspect the spots on the coin are dust, and not marks, as the coin was highly scrutinized before leaving, as it was the first business strike ever certified a 70. On a related note, I'm surprised that it didn't go for a few thousand more, and in a way, I am glad it didn't. It's more of a novelty, and I suspect that it is only a matter of time before we see another 70. The reason I say this is, is that this particular coin may spark some interest, and people may submit more, until another gets a 70 grade.
Zane The reason I was asking if anyone knew if this guy sent in alot was this... Alot of the time we hear that people at grading companies don't know who sends in the coins---BUT have have also heard of graders saying that oh yeah that this guy sends in lots of coins....or to the point that I remember this coin---the guy thought it was better... Now this might not be true...or at least not at all of the TPG's but it seems to me that if graders know that this one person sends in alot they might be more open to hikeing up a grade. You know my thoughs on the grade 70...and while I understand the reasoning being the grade---I don't think I'll ever need to use it! Speedy
Speedy, I hear that a lot too. I can personally attest that graders at pcgs never know whos coin they are grading. Sometimes though people repeatedly submit a high grade coin, and especially if it is rare, then they may recognize it, but I don't think that would result in a bump in the grade. One thing I also hear a lot is that only dealers get ms and pr-70's, but this also is not true. Dealers tend to get more than collectors, but that is simply because they submit mass volumes of coins. The guy who did submit the 70 business strike cent, stated that he has been collecting and submitting for years, and I believe he said it was in a bulk submission that he got the 70. Had the penny been an ms-70 2003-d, I suspect it would have sold for mega bucks.
