Help Me Understand High Grade Moderns

Discussion in 'US Coins Forum' started by Randy Abercrombie, Aug 2, 2019.

  1. Randy Abercrombie

    Randy Abercrombie Supporter! Supporter

    Played a few minutes of hooky at my desk and perused the Great Auctions offerings for the week. I had a moment of pause when I saw a 1989-D cent graded MS69RD and the current auction price was $2200.00. I laughed to myself and thought this had to be a mistake. So I went and looked at recent auction prices for a 1989-D cent.

    MS66-67RD were selling on average of four to sixteen dollars.
    One MS68RD sold at $168.00.

    So can this be correct? A common year/mint Lincoln cent valued at over 2k because it has an MS69RD grade? I can get MS70 gold for less money. Seriously, I am not questioning this. I just truly want to understand it.
     
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  3. Evan8

    Evan8 A Little Off Center

    Well what is the pop report? I remember awhile back there was a 2003 D Cent in MS70. It got downgraded to 69 due to a spot that appeared while in the holder. PCGS, i believe, bought it back for 15k.

    Top pop coins tend to bring premiums even if they are modern common dates.

    And honestly, there are probably more MS70 gold coins out there than MS69 Lincolns. Even common and modern, a business strike that grades 69 is pretty hard to come by.
     
  4. Randy Abercrombie

    Randy Abercrombie Supporter! Supporter

    I didn't go that far into it..... So what you are telling me is a high grade common cent with a low population report is more valuable than high grade gold with an average/high population report?
     
  5. Evan8

    Evan8 A Little Off Center

    Yeah sort of I guess. There are more of those gold coins available in mid unc grades than there are modern business strikes in 69. It's pretty difficult to get a lincoln cent out of a roll that will grade that high.

    Also gotta think about those guys with set registries. They pay a lot for low balls too.
     
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  6. Paul M.

    Paul M. Well-Known Member

    That seems to be what the coin market is telling you. Personally, I'll stick with the MS67.
     
  7. Randy Abercrombie

    Randy Abercrombie Supporter! Supporter

    I appreciate that fellows. Just was a bit taken back by it.
     
  8. Kasia

    Kasia Got my learning hat on

    Yes. Quite so at times. Conditional rarity.
     
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  9. Randy Abercrombie

    Randy Abercrombie Supporter! Supporter

    I now better understand why so many new collectors first question on this forum is, "Should I get this graded".
     
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  10. Kasia

    Kasia Got my learning hat on

    Not just the set registry stuff. There is an appreciation for a business strike that is not only near perfect but has the luster and the great strike on all features... Especially in an age where the mint is known to really produce low quality stuff.
     
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  11. Robert91791

    Robert91791 Supporter! Supporter

    You just have to accept that there is a fool that would pay for that crap.
     
  12. Clawcoins

    Clawcoins Well-Known Member

    if you hold on to your graded zincoln long enough sooner or later it will be a slabbed blob of zinc rot. I can see a financial disaster of TPG buybacks (or exceptions) in the distant future ...
     
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  13. Randy Abercrombie

    Randy Abercrombie Supporter! Supporter

    And that actually was a thought hovering around in the back of my brain pan.
     
  14. cpm9ball

    cpm9ball CANNOT RE-MEMBER

    Now, the TPG's are limiting the length of time they'll guarantee certain attributes. Personally, I wouldn't pay $22 for any crappy zincoln.

    Chris
     
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  15. leeg

    leeg I Enjoy Toned Coins

    For some, being #1 in a respective "Registry Set" is very important. I do the best I can, and afford, for my sets. I will never be #1 in any set, fine by me. Top ten is a real accomplishment. My best set is #4.
     
  16. Paul M.

    Paul M. Well-Known Member

    You can’t tell me an MS-67 anything is “low quality.” It’s not a 70, but most coins aren’t.
     
  17. Kasia

    Kasia Got my learning hat on

    Think about it. Say the mint produces
    Did I say MS67 was low quality????? I did not.
     
  18. Paul M.

    Paul M. Well-Known Member

    Well, no, but we're talking about why some MS69 coin is worth $2k and an MS67 is worth $10 or so. If neither one of them are low quality, then quality per se is not the reason people pay $2k for the other coin.
     
  19. Evan8

    Evan8 A Little Off Center

    Well to be fair, plating bubbles and or tears in the copper plating exposing the zinc should be things one looks to avoid when buying high grade zincolns.

    There are cents out there where zinc isn't exposed. These pieces have the best chance of survival and with so many that will end up rotted and ruined, those that are pristine, will be worth all that more.
     
  20. Kasia

    Kasia Got my learning hat on

    Quality, per se, being the difference between what may be a relatively common, or more easily found MS67, and one that is not expected to be found, as in a MS69, is something. And I never mentioned MS67 as being in the mix here. Relatively low quality can easily mean most coins won't reach a MS 65 or 66 and it is more common, perhaps to see the coins come straight from the mint in rolls at maybe a MS63-64.
     
  21. atcarroll

    atcarroll Well-Known Member

    I have a hard time understanding why someone would pay that kind of money for a modern zincoln. Yeah, i get the fact that the almighty pop is very low in ms69, but the mintage was in the billions.
     
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