My Brilliant Idea Regarding Lincoln Chronicle Sets

Right on except that there is no difference at all between the coins in the chronicle sets and the earlier releases of the same coins. Not really sure what taking the moral high ground is really worth here. :bigeyes:

 

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As they used to say back in the hood, "ain't no shame in your game"!!

 

Moen, I told you that the tie was a satisfactory present for me this year. LOL

With that being said I think that if you give a proof Lincoln Silver Commorative and a set of proof pennies I'm sure you'll still be able to claim a big piece of yorkshire pudding at the dinner table after the presents are opened. I realize that maybe not being able to give the chronicles may eat at you for a little while but if the recipients are budding coin collectors they'll appreciate a nice coin or even a nice piece of equipment like a Eschenbach magnifying loupe, etc.

 

Some fool actually did it ...got it certified.

http://cgi.ebay.com/2009-S-P-LINCOL...mQQptZCoins_US_Individual?hash=item414a1bea10

 

I bet that they don't even get their original price for the coins and slabbing costs out of this deal. :mouth:

 

Someone thought it was good idea. They have the bid up to $86.00. It just ain't right.

 

Ditto Bazz , not true collectors in my book

 

That's still less than the C&C sets have sold on eBay. Buy that one @$86, fill the packaging back up with raw proof coins, sell it on eBay for $150, and keep the slabbed coins as profit. :thumb:

 

Sorry, pet peeve of mine.
NGC was already sued for this, so they changed their meaningless "First Strikes" designation to the equally meaningless "Early Releases" designation.
I don't understand how PCGS continues to get away with the blatantly fraudulent "First Strikes" designation.

 

I agree. I don't understand why some consider this immoral. The coins are identical.

 

And all I really want the packaging for is so that it makes a nicer Christmas gift than just a couple of coins in plastic containers. I don't see any value in the packaging myself, although I'm not throwing any of the packaging away from my sets either.

 

The larger dealers frequently sell sets (e.g. proof presidential dollars, proof state quarters, proof Lincoln cents) as "Mint plastic, no box" sometimes at prices below mint prices. I've always suspected that these sets are basically culls, left over after proof sets are cannibalized for individual coins that are sent in for third-party grading. The dealers cherry pick the best coins to be certified and are left with the leftover coins and a big pile of "mint plastic". I wouldn't be at all surprised if the coins in the plastic holders are not the original coins and are derived from these leftovers.

Obviously someone could do that with a Lincoln Coin and Chronicles set, cherry picking the best silver dollars for third-party grading and substituting coins that didn't quite make the grade.

Of course no one on CoinTalk would do such a thing!

 

We aren't talking about a large scale operation here...the OP was talking about putting a couple sets together as gifts. IMHO, in that scenario...the opposite could be true. The OP could cherrypick nice examples for the sets to make extra nice gifts.

Plus, with these large dealers selling "culls"...isn't it the buyers job to look at the coins and not the holder? Since when did "buy the coin, not the slab" only apply to TPGs and not to mint plastic? Buying a coin because of the container it's in (mint package or slab) is foolish.

 

Seems like a lot of trouble. Just get them original and keep them that way. It would be interesting to know what the value of the LCC packaging is on the secondary market. It's sad that folks would tear up a set just to get at the gems.

 

The coins in the set are available elsewhere, the value is in the packaging, I don't think hardly anyone will sell it, at least not under 20 bucks.

 

If we're talking about gifts here, then it's fine, and sure you could pick the best coins to go into your gift set. Selling them is another story. If the coins you put into the sets are truly the same, there's no problem. I'm just cautioning people about buying sets from third parties and why I don't do it. I will buy these sets only directly from the mint (even if the cost is higher) unless it's something that is no longer for sale.

Most of the dealers I'm referring to don't give you an opportunity to see the coins before you order them, so "buy the coin, not the (slab) container" doesn't really apply. Of course you could send them back if you don't like them, but at your own expense.

 

Very true they probably are I know at th sho I worked at we broke up sets to set the better pieces, We also kept the mint holders and COA's in stock just in case someone wanted a set. We just pulld the needed individual coins from stock or purchased any we were missing got the proper holders out of stock and there you have it a set in OGP even with a COA.

I just don't see the empty holders selling because if you get a set that has some 70's in it whcih you can sell for a big profit, why the sell the empty holder for a song when you can buy the coins you need to fill it back up again for about $60 and then sell it as a full set for $150? If you can't get $90 for the empty holder you'd do better to fill it back up and then sell it.

 

I'm guessing that I'm making the right decision by keeping the mailing box, the invoice, and the coins. It sounds like a lot of crap going around out there.

 

This is one set where the packaging really has some intrinsic value. It's just a beautiful presentation. Lincoln's portrait, his signature and a copy of the Gettysburg address in his own handwriting (which I'd never seen before) are nice to have in their own right.

I'd like to see the mint create more sets like this in the future.

 

You are right, it is an attractive designed presentation. But, I don't think that will cause it to hold a substantial premium over the coins in the long run. At the end of the day, this is a coin set and that is why people collect it. The coins in it are common and once the hype dies down the value of the set will reflect that IMHO. Now, because the original packaging is so attractive...sets in the mint holder might carry a small premium...but I doubt it will be substantial.