I was perusing Heritage when I came across this 1955 cent, MS 67: http://coins.ha.com/common/view_item.php?Sale_No=29021&Lot_No=21020 My question is, why is this particular coin going for over $6k, when the Numismedia Wholsale value is around $520 for an MS67? I thought it had to be a DDO, but it's not the case. Thanks for the help once again.
Because there are a total of 13 of that date graded that high by PCGS and 35 by NGC. Many of those dates have over 1000 at that grade.
You have a cpl factors here. First of all, it is a Jack Lee coin ( provenance / pedigree ), then, it is a very tough date in 67, a population of only 13 with none higher, those 1950's P mints are crazy tough in those high grades. It boils down to registry fever, there are more than 13 super rich folks with high end registry sets who need that coin, and only 13 coins available....supply vs demand. Want to see something wierd? Look at the history of that date in that grade and compare NGC to PCGS price wise.....I wonder how many times those 67RD NGC's have been thru the PCGS system trying for a crossover.
First, the fact that it has a Jack Lee pedigree will play a small part. Second, Heritage almost always asks way too much for the "Buy it now" option. That's why they have a "Make an offer" option. Those coins are tough to find in MS-67 RED PCGS holders, so you probably won't find one cheap, but I agree: The coin you're looking at is overpriced for the current market.
