First resale auction of the Lincoln Omega Cent set

Forget the dam breaking and all the water rushing a mile downstream, you just want the ocean to rush in.

 

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I guess the Mint has no recollection of the 1792 Birch and Silver Center cents? I know they're patterns but it is a 233-year history, not 232.

And with a starting bid of $90,000? This is clearly a case of the Mint targeting rich people who aren't actually coin collectors, but rather people buying the set for the status.

I'm sounding like a downer but I'm simply stating facts. The Mint thinks we'll give every cent we own for this stuff, but no, we won't. We'll just counterstamp our own 'omega' cents and make them look light years cooler than the real thing.

 

The mint was only involved in the initial auction of these, and has nothing to do with the $91.5k price here because as the title says, this is the first resale of one of them. This set sold for $70k in December (https://auctions.stacksbowers.com/l...-circulating-cents-set-number-116-of-232-pcgs). I have trouble believing it's appreciated 30% in two months. Bidding ends tonight and there are no bids yet. I bet it goes unsold.

 

This isn't the mint selling... those were the Stacks-Bowers auctions a month or two ago. This is a resale from that auction.

Flipper

 

The original sale was what I meant, but now that I'm reading my post again, it can come off as a little confusing.

The Mint was directly involved in the first sale of them, though, which in my opinion is another way they are screwing the actual numismatic audience over. Not everybody can spend $70,000 on a single item, but the Mint is more than happy to create artificial rarities for the status collectors. There are likely some collectors who ended up with these but most will likely get a 2025 P-D-S penny set and be done with it.

I'll credit the Mint for producing most of the US coins we have today, but they're in a huge money-racketing mess at the moment, no pun intended.

 

That is hideous!

 

Worse when you look at the coin and the price.

 

Yes, this stuff really turns people off. I've said many times that their mission isn't to create artificial rarities, it's to serve the American people. If "we the people" want an Omega cent, make as many of them as people are willing to purchase. I mean, they could have sold a million of these at $20 each and made just as much money on it. But the thing that makes me chuckle is what crap these coins are. Pick any lot at random and they're full of grease spots. For 70 grand they didn't even try. (Rant off. I must be fun at parties.)

 

I mean you're wrong. The mint is a for-profit business. The profits go to the general fund of the United States to reduce the deficit.

The mint selected a mintage with some symbolism and auctioned them to maximize revenue. Collector coins is just one of their business lines and the smallest one at that.