GreatCollections bidders being........ GreatCollections bidders

Typically, I don't get into Lincoln cents other than proofs when bidding on GreatCollections, as that is one category where a lot of bidding warriors go to battle.

The warriors attacked these 3 coins today (5/18)......


1961, NGC PF66 RB: $49.15 w/Buyer's Fee

CDNs of $5/6.75


1961, NGC PF66 BN, $76.50 w/Buyer's Fee

CDNs of $3/4.10


1961, NGC PF65 BN, $110.25 w/Buyer's Fee

CDNs of $0.70/1.00

......while leaving this behind......


...... a 1924-D, ICG AU-55, seems quite nicely graded, $57.26 w/Buyer's fee (I pay by money order).

CDNs of $140/180

I know some people love to diss on ICG, but their coins are, at times, treasures for the young dealer who lurks in the places the bidding warriors overlook.

What would you have spent your money on?

 

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To be honest, I'm not much of a Lincoln Cent collector. But, if you made me bid on one of these, the ONLY one I'd even look at would be the 1924-D.

 

I agree.

About anything toned goes for big money, especially "vibrant" proof cents. The only thing is, they look those colors from just a few angles; elsewhere they look brown or red-brown. It's crazy, but good for dealers if they can get into them cheap.

 

The bidiots were out in force tonight.. I've got one more auction coming up but expect to get walked over on that one too. I did however pick up 2 overlooked items at happy making prices...
$42 for the 5 that's $8.25 each.. can't do wrong at that price

I "missed" the silver 2021 crossing the delaware quarter when I got my 2 clad versions but got it for a very resonable $72 tonight

Now I'll head back to get stomped on my pretty morgan

 

I was following the toned proof cents. They all looked nice and the premium on them has reached these levels before based on the eye appeal. I did not want to bid as much as they went for because I'm not looking for one at the moment (unless the price ends lower than market).

The ICG cent has some spotting on the reverse which might have held some people back. And some people do discount ICG. However, the price you got it for was solid and I believe you will be able to turn a profit. Nice find!

 

"Bidiots".

My man. That sums certain bidders up perfectly. Especially the one who bid a highly underpriced $72 for a $20-30 coin.

Your $42 set has CDNs of $62/84, so you did great there. The best was the Delaware at $30/40.

To be honest, I probably would've paid a small premium for them, but as a dealer, the question is: who is interested specifically in toned proof Memorial cents? That is, quite sadly, one type that, once the collector snatches it, there's not much market to afterwards.

I do think the 1924-D (the ICG cent) may have gotten a 58 if not for the reverse spotting, but I won't disagree with the grade. Even for ICG, I think the coin shop where the majority of my GreatCollections purchases go would be interested.

I could send it to PCGS, but it'd likely get a Details grade if they found that it was once in an ICG holder. Always a good piece to keep as well.

 

There are plenty of people that collect toned proof Memorial cents or want one for a toned type set. The record at GC for a toned 1961 proof cent was $703.12 and there are multiple sales of over $100.

The most expensive one was very nice.

 

I gotta admit, that is quite a nice one.

 

I would have purchased older silver money and/or CSA Notes.

 

The subject coin above appear to have been photographed under black light.

 

Here's what the bidiots missed this week:

$51 w/Buyer's Fee, CDNs of $200/260 for VG8, $110/145 for G4 - A discount even from AG!


1952-D, MS-65, CDNs of $75/100, paid $41 - MS Franklins are very rarely underpriced on GC, let alone a TONED one like this. This regularly would've went for MS66 money to the bidiots.


1952-S, CDNs of $70/95, paid $52, semi-scarce date in MS. Even has some toning to it. The common trend between the two being underpriced, from what I saw, was that there were multiple of both 1952-Ds and S's.


1907-S, USPI 20 Centavos, AU55, CDNs of $120/155, paid $71.50 as the only bidder. Yes, it's ANACS, but from what I see, they're pretty spot-on with their grading. Thankfully for me, this is a date whose price doesn't completely fall off once it gets down below AU.


1944-D, USPI, 20 Centavos, ANACS MS66, CDNs of $100/130, paid $55 as the only bidder.

Again, it's ANACS, but this is still one of the most beautiful 'foreign' silver coins I have ever seen. Also a US coin, but still a beauty.

Let's just hope I don't get smoked finer than a brisket next time.

Edit: There are no Classic Head cents this week, so next week I may need to avoid that category.

 

The people who won't buy ANACS because of marketing and forum "knowledge" are a boon to the rest of us.

 

Sorry, but that is a matter of opinion. I wouldn't pay any more than a $1 for it.

Some of these colorful Proofs from this era were caused by an error in mint packaging. Back in the 1970s I cut open a Proof set from the early 1960s that had "gone bad." When I cut into the pouch that had a coin toned like this in it, I got a wiff of chemicals that indicated that the glue or whatever than held the flat pack together had been trapped in the space and toned the coin.

Silly me. I thought that the coin was "a bad penny Proof" and was therefore a cull.

 

i've gone broke with all the good buys there. cents and quarters mainly in proof and details' with under 4 bids.

 

What part is opinion? The coin I linked sold for $703 and there have been multiple others that sold for $100+ in GC auctions over the years. There are plenty of collectors of these coins or else we would not see $10-$15 price guide coins sell for such multiples.

 

The 1812 cent has a lot of corrosion, so I’m not surprised by what it sold for. Straight grades are not very common in that series and the CDN bid prices are reflective of that.

Could the toning on the 52S Franklin have held it back? I think it’s okay but some may see it as a negative.

The OP’s 24d cent has big spots on the reverse and is in an ICG holder. If I was paying for an AU55 for that date I would want clean surfaces in a first world holder. Would it have straight graded at PCGS or NGC? If I had this coin I would be bothered by lingering doubts.

I’m not arguing that these coins could be resold for a profit down the road but oftentimes there are reasons for “good deals”.

 

I agree with all of these points. The discounts happened for a reason. And like you said, there can still be a profit made on these coins but it could take some work. These are not the coins that are an easy sell to most dealers; one would need to find collectors that are looking to fill a spot in their set at a discount (cheaper than straight graded). Those people are out there and a venue like eBay could be the place to find them.

 

Your analogy on the 1812 cent is great. Problem coins like that, or practically any slabbed coin for me, is a hard sale at times, but I do have a coin shop that I take most of my GC finds to. Half bid for VG8 is $100, so I think I might get that; of course, it depends on how the coin looks when I get it.

On the 52-S, I'm in your boat with the toning. There were multiple 52-S's up for auction, possibly unrelated to the price, but the bidiots weren't in much force. Seen as how last weekend was Indy 500, Coca-Cola 600, and Monaco, not counting other sports.

On the 24-D, I do have some cushion. XF price, which the LCS that I take this stuff to would probably buy it at, is still around $100. I guess I can just hope for the best and see what goes down.

 

There are definitely a lot of variables in auctions and probably more opportunities for flipping than a lot of us realize. I also think Great Collections may have more of those opportunities than some other venues. I’ve made a few buys there that later turned out to be overpriced, but gotten some real deals as well, especially on Canadian and world coins.

Here’s an example of something I bought that, like the other coins we’ve been discussing, may be a tough sell for some but came at a low price. In this case my winning bid was way low even compared to EBay comps for non CAC. The spotty toning isn’t for everyone, but this particular issue often comes butt ugly, and this one is in a CAC holder. I actually find it attractive in hand with nice cartwheel luster coming through.

 

I would have saved my money for something nicer and spent more on it.