Matte Proof Lincoln question

Ok, so I've heard that you can't really go by the book when dealing with matte proof lincolns. I'm having a hard time pricing them with heritage auctions. I've been considering a purchase off and on, but it will probably be a while before I take the leap until I understand the market. I'd definitely go for the lower end ones in the 62-64 range. This one is NGC certified PF-64, and the asking price is $975.00. Opinions?

 

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slab

in the slab.

 

IMO, I would buy it, crack it, and resubmit it. It is undergraded IMO.

 

snaz, do you honestly think that this coin would grade 65 with that huge spot on the reverse? I certainly don't.

 

Great-looking coin, except for the copper spots on the reverse. I call coins like that "album coins." They're great if you're going to put them in an album, obverse-side up, and never look at the reverse.

Not that you would put a coin like that in an album.

 

Yeah, I like it and would pay 64 money for it(if I had the money). But that's the problem. I have no idea what 64 money is for this coin? Is $975 a fair price? thanks for the comments.

 

I do not follow matte proofs, but The Penny Lady has 3 of them for sale at her site - 2 65's and a 64 all PCGS. Also, Heritage has sold 3 64's this year and 2 more last year.

 

$975 is 50% above greysheet bid. For this coin, with the copper spots, that seems a bit high. I don't pretend to know the matte proof market, but I would not purchase that coin at that price.

 

Thank you for the inputs rlm and borgovan.

Yeah, the 2009 redbook(which is normally considered high retail) lists the matte proofs from $350-$400 each in PF-63 for 1909-1915. I don't think anyone has a prayer for getting them at this price, and I've heard constantly that you can throw the books out the window for MPLs.

Pennylady actually has about 9 for sale: http://thepennylady.com/coinphotogallery.html

64s and 65s for $2,500-$3,000(the 1913 PF-64 is 2,550). I know that she is a very respected in the numismatic community, so I assume that she is selling her coins at fair market value. I agree that hers are probably of higher quality, but even still that would make the pf-64 i pictured here a good deal in my opinion, even with the copper spot.

note: this is just me thinking out loud here...

 

Btw, Penny Lady has some absolutely PHENOMONAL coins! Major props to her!!:bow::bow::bow:

 

here are the price suggested by pcgs
64 bn: $600
64 rb: $875
64 red: $1350

http://www.pcgs.com/prices/PriceGuideDetail.aspx?MS=1&PR=1&c=45&title=Lincoln+Cent

 

I do not care for the coin. It is one-sided and spotted and IMO not really an RB coin -- and three strikes and you're out in my book....Mike

p.s. (with respect) the MPL series is not one for the inexperienced. TPGs are not to be trusted with these coins, IMO, and the prudent collector should be very careful with this series.

 

Exactly why I'm trying to gain more knowlege.

 

I think the obverse of the OP coin is beautiful and worthy of the high prices that matte proofs can command. However, the color of the obverse is comparably boring and the spot kills it. This coin will never go 65 because of that spot in my opinion. That said, $1000 give or take $100 or so is probably a fair price range.

Greysheet prices on this series are very inaccurate and I don't think they have been updated in quite awhile. If you can buy any certified matte proof lincoln at Greysheet prices you would be stealing it.

Again, the Redbook prices do not accurately reflect the market concering Matte Proof Lincolns. If you can find a certified example close to those prices BUY BUY BUY!!!!

The coins Charmy has are very attractively toned and free of problems. The market prices of those types of coins far exceed the price guides, and in many cases even exceed the prices in the PCGS Guide.

Overall, the pricing on matte proofs is highly dependent on eye appeal. For example, an average 1909 matte proof graded PCGS PR65RB may be found for $1750-$2250 or so. But an example like mine below that has very pretty colors and has no spotting will sell for much much more. I think I paid $3000 for it and don't regret it for a second.

 

I agree, I am not a fan of that spot.

Not a coin I would pay a big premium on.

 

Very inaccurate is an understatement, they might as well remove their Lincoln proof prices from the list. The 1936 proof prices are a complete joke.

 

Try and sell a MPL to anyone other than the few dealers promoting them or the handful of rabid registry collectors, and I have a feeling that the greysheet on MPLs isn't so far off.

 

This may be a semantical argument, but when you look at the prices realized in a major auction on say, an 1804 Dollar, the coin is currently worth the final hammer price, not what a majority of people bid.

Worth IMHO is a personal thing and may be different to different people, but the only way to measure it is by what the coin sells for, not the perception in the market of what most would pay.

 

Johnny I'd stay away from this one. I don't like the spot, and the one sided toning just makes the coin boring really.
The Matte Proof's are not my strong spot, I don't know much about them, but I do know this, you can find a better one, might have to pay a little extra, but it is better to maybe get the same kind of toning, on both sides, and no spot.