COIN BUYING EDUCATION 101-7 Happy Labor Day( new 9/7)

Discussion in 'US Coins Forum' started by desertgem, Sep 7, 2009.

  1. desertgem

    desertgem MODERATOR Senior Errer Collecktor Moderator

    7th Coin

    There has been as usual, many auctions which have been url-ed on ebay to draw attention to a specific point or discussion as to value or lack thereof. Most often the photos are not the best. I would like to offer as a lesson in coin buying in this post. I am not the teacher, the posters will be teaching and learning at the same time.

    This coin is not for sale. It is the example used.

    This coin is graded, BB, or "detail" by a big 4 TPG. The photos are taken through plastic. It is not RAW.

    So pretend this is the listing I have put on my auction, and then post what you think as to price and condition. After some action , I will tell you the results. AGAIN, this is a pretend auction I will not sell this coin. In financial groups it is called "paper money" so you can trade stocks on paper and not lose your money until you are ready.

    Pretend ad: :smile
    ================================================== =
    Wow! High High Grade 1972/72 Die #1 Lincoln DDO. Grading is subjective. Use my photos to make your decision. Taken out of Granny's safe deposit box! Looks great to me. Buy it now for $850.00 or best offer.
    The white scratches are on plastic. Ask if you need additional photos of an area.



    Ok, what do you think? offer grading/ condition/ price/ suggestions
    and why you say so.

    It has already been to a TPG and back, so you won't offend or anything.
    this is not an offer to sell, nor any offer at all, it is a pretend learning experience. A lab practical if you would.

    Jim ( Granny :smile)
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  3. fretboard

    fretboard Defender of Old Coinage

    Just a guess, to learn I would venture to give it an MS67. As far as I price, I have no idea.

    GDJMSP Numismatist Moderator

    Geeeez Jim - everythings all out of focus. I'm seeing 2 of everything :rolleyes:

    How the heck am I supposed to grade it with pics like that ? :whistle:
  5. desertgem

    desertgem MODERATOR Senior Errer Collecktor Moderator

    Doug, it is like one of the "magic eye" 3-D photos. Just cross your eyes and relax.

  6. PeacePeople

    PeacePeople Wall St and stocks, where it's at

    Are you saying it was body bagged?
  7. desertgem

    desertgem MODERATOR Senior Errer Collecktor Moderator

    Hi Peacepeople, No I am saying that it should be considered as one of the possibilities, along with "detailed", "genuine", or a Given grade with no problem, from PCGS,NGC,ANACS, or ICG.

    It is a "pretend" ebay type of listing, for posters to examine and give their response, and for people to practice their grading with one of the big 4 TPG.

    Also this is the first "copper" I have listed in this series, so remember they come with a RD( red) RB ( Redbrown) or BN ( Brown) if they are graded.

  8. Breakdown

    Breakdown Member

    Let me get all my excuses out of the way up front. Not a Lincoln or any type of copper collector. Don't collect moderns.

    Okay, that out of the way, I am going to guess RB MS67. I think Grandma's price is a fair one although Lincoln's have been in high flux recently. Further, if it is a 66 or is BN, then the price turns bad.

    As always, thanks for the practicals. They're fun, educational, humbling.
  9. PeacePeople

    PeacePeople Wall St and stocks, where it's at

    Ok. thanks for clearing that up. I love to read these and see what people of experience have to say about them. I am smart enough to know that I know nothing when it comes to grading, so I really enjoy the learning experience. One day I might even take a stab at one, but not yet....
  10. sweet wheatz

    sweet wheatz Senior Member

    I will go out on a limb and say it is DDO2, just because I can't determine from the pictures or not if that is a die gouge above the D on the reverse or just a reflection in the plastic.
  11. ksparrow

    ksparrow Coin Hoarder

    Heck, not my series.... (CYA)... MS66-R?
  12. rzage

    rzage What Goes Around Comes Around .

    Thanks for a great thread , though I don't collect MS Lincolns I'll say MS66 RB though the tpgs probablly gave it a 67RB because it's a DD .
  13. krispy

    krispy krispy

    MS66 DDO was the first thought that occurred to me (and I see others too gave this or near by grades) but errors are something I have a hard time assessing.

    Jim, I think I see some coarseness (wear?/scuff?) to the hair above the ear, the back rim of the ear and the high points of Abe's jacket. However, the photo of the obverse is rather dark over the center bottom half from 4 o'clock to 7 o'clock where I think I see some of this coarseness.

    I say MS66 RB @ $750.
  14. desertgem

    desertgem MODERATOR Senior Errer Collecktor Moderator

    More photos: The blue lines and patches are reflections.





  15. chip

    chip Novice collector

    Ms 64 rb, I do not collect these and darned if I know if it would be walking away from money not to buy it, I would guess 850 is high now tell me I am wrong.
  16. GDJMSP

    GDJMSP Numismatist Moderator

    I'm gonna guess the TPG said 65 RB. BUt I figure they gave it bump because of what it is. Personally I'd say 64 RB because of the obv hits.
  17. mark_h

    mark_h Somewhere over the rainbow

    I agree with the 65RB, Assuming the darkness is from the coin and not the camera. Just a few too many hits for 66 in my opinion.
  18. jello

    jello Not Expert★NormL®

    I know my photo show a bit darker that they really are that why I said MS-66RD
  19. rlm's cents

    rlm's cents Numismatist

    I will go with 65-RD.
  20. desertgem

    desertgem MODERATOR Senior Errer Collecktor Moderator

    Results: Pcgs 66 rd

    The coin received a MS-66 Red grade. The hits are hardly visible under 5X, and in hand , I was disappointed it didn't get a 67, but knew that was hard, as only 16 were graded 67. PCGS pop 480/ 17 better.

    PCGS price guide = $1350

    Heritage last sell of one 9/08 was $1840

    before that was in 2004, 4 sold at 747,718,1121,1150

    A MS-67RED sold in Mar,2004 for 2242.

    I would have bought it at Granny's price. It's a keeper.

    Lots of Fun, Thanks!

  21. krispy

    krispy krispy

    It is indeed a nice one... and these prices enlightening!
    Congrats on a great coin Jim.
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