Discussion in 'Coin Chat' started by Joy Matherne, Sep 30, 2020.
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Many people get "great looking" coins that they think are worth money.
Only to learn that it actually has many small, thin scratches all over and isn't as "perfect" as they think, especially once you also add in how many were made and then compare the sale prices on eBay or elsewhere of slabbed cents of the same year. On ebay some MS69 2006 cents are *SOLD* for about $25 which is above the cost of getting it certified/slabbed.
Do you have pictures ?
Now if you know what you are doing and understand how to grade a coin, and find candidates that qualify for "better than MS67" and qualify for MS68 or higher, Yes, those sell for a premium, usually a couple thousand dollars really.
How hard is it to find and get certified a 2006 P or D lincoln cent, not the satin finish mint set coin, but the circulation/business strike coin?
Pretty darn hard. i'm not going to check populations of the various grading companies, but there are 8 total MS68 2006 P lincoln cents graded, and 11 2006-D graded onb their census.
in the satin finish versions of 2006 from the mint sets, there are 25 P mintmark ones graded SP70, and 95 D mintmark graded SP69, none higher.
it's what's known as "condition rarity" and people want the best of the best, with money, will pay for that.
it's easy to find what you think is "perfect condition". However, that's usually not the case when it comes back from grading and it's MS65 or MS66 and worth less than the fees. You really have to understand how to grade coins (the type of coin you are searching also) and be able to identify what "perfect condition" actually is when you see it.
FYI, from 2005-2010, the coins in the mint sets were satin finish and different from the circulation strike coins, a "completist" isn't going to be satisfied with the satin finish one in high grade and also want the business/circulation strike finish, which is why there's some added value to those years.
When the mint set is the same finish, like since 2011 or before 2005, you can get a nice business/circulation strike coin example from the mint sets that are usually high grade MS67+
honestly though, most years the highest graded examples or "condition rarity" business strike coin can be a great payday. the exception is if the mint sets are really good and a lot of high grade examples watering down the demand and the sale prices.
By the way, those MS69s are "satin finish" slabs or "SMS" slabs, it's not the Business Strike, circulation finish, which is another animal. there is no MS68 or better regular finish 2006 P or D on ebay this year that i've seen. and I been watching for high grade ones to slip by unknowingly for the satin finish prices but they literally almost never come up.
Clawcoins is right. I've had a lot of coins that seem to look extra nice. Especially for the year, only to photograph and blow them up to find out they were...well, sorta, almost nice. And, a couple of "Yikes!" moments.
PCGS Auction results shows one graded MS 68 Rd sold for $2,640 in March 2020 at the Stack's Bowers auction.
To check for auction prices Google PCGS Auction Prices: https://www.pcgs.com/auctionprices
Why is this do? The reason seems to be the PCGS registry, which has become “the gold standard” for many collectors who are looking for prestige and bragging rights. NGC graded modern coins are worth a lot less in the same grade.
Years ago, a collector got a modern date (circa 2010s) Lincoln Cent in an MS-70 Red holder. I think the coin traded for something like $15,000.
To me it’s all foolishness for a variety of reasons.
First, the coin is only a condition rarity according to one grading service. Overall the coin almost as common as dirt.
Second, the difference between an MS -70 and a 68 or 69 is imperceptible to the vast number of collectors.
Third, PCGS rides herd over the number of these high grade pieces they issue. They control the supply and the market. Over time I’ve seen instances where they issue more high grade pieces, and prices collapse as a result.
Fourth, if the coin tones or gets one spot, you are dead. Your big bucks are down the drain. These copper coated zinc cents are even more fragile than conventional red copper. Those who buy these coins should keep that in mind.
As for the answer to your question, the highest graded 2006 cent in a PCGS holder is an MS-68 Red. PCGS Coin Facts says it’s worth $2,150. Auction prices show a range from $1,528 to $2,640 from 2009 to 2020.
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