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Prices Of 2019-w Uncirculated Cents *crazy*

 
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Pillar of the Community

United States
3403 Posts
 Posted 06/22/2019  3:58 pm Show Profile   Bookmark this topic Add jimbucks to your friends list Get a Link to this Message
Prices are nuts on MS-70. Early releases selling for over $1,000 and first day of issue for over $2,000 and even some over $3,000. This seems crazy, paying moon money for a label rather than a coin -- especially since they are readily available from the mint. I can't see the average collector buying into this frenzy, what do you think?
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 Posted 06/22/2019  4:22 pm  Show Profile   Check Foxwoods Man's eBay Listings Bookmark this reply Add Foxwoods Man to your friends list Get a Link to this Reply
Well maybe poor quality resulting in a 70 grade population of less than 200 out of 10,000+ graded (NGC)

Mine all sucked
Bedrock of the Community
United States
29518 Posts
 Posted 06/22/2019  6:19 pm  Show Profile   Bookmark this reply Add John1 to your friends list Get a Link to this Reply
I am actually looking into buying one in MS68 or 69. I am bidding on a 69 right now,but I am sure I will not win. What would you think the max price I should pay for a 68 or a 69? Which TPG--PCGS or NGC or ANACS. Thanks all.
John1
( I'm no pro, it's just my humble opinion )
Searched 5+ Million Cents Since 1971
Valued Member
United States
325 Posts
 Posted 06/22/2019  6:36 pm  Show Profile   Bookmark this reply Add Pauldog to your friends list Get a Link to this Reply
Can you just buy a bunch of pennies from the mint and send a few promising ones to a TPG?

I wouldn't necessarily send any in, unless I wanted to resell.

My guess is that slabbed ones have more downside than upside at the current prices. For how many years have there been W cents?
Bedrock of the Community
United States
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 Posted 06/22/2019  6:45 pm  Show Profile   Bookmark this reply Add basebal21 to your friends list Get a Link to this Reply
While I wouldn't call the price crazy as there are many top pop moderns that cost several thousand dollars, I don't see the price on these holding and feel several hundred is probably a more accurate price. 200 is a minuscule amount of the population, but is still a lot for a top pop, but there's a more telling story going on here as well. While NGC has given out almost 200 70s, PCGS have given out 0 as of right now. A PCGS 70 would be a five figure coin at this point.

I'm a big defender of modern coins, but when a discrepancy like that exits it appears to be pretty clear that PCGS is being tougher graders on them and that at least a couple of those PCGS 69s would be NGC 70s.


Quote:
I am actually looking into buying one in MS68 or 69. I am bidding on a 69 right now,but I am sure I will not win. What would you think the max price I should pay for a 68 or a 69? Which TPG--PCGS or NGC or ANACS. Thanks all.


PCGS. You can get a PCGS 69 for 100-150ish or a 68 for $20-30. At the very least if not them go NGC. ANACS is okay if you want to find a 5-10 dollar one but the modern market is dominated by PCGS and NGC when it comes to anything of numismatic value
Pillar of the Community
United States
1335 Posts
 Posted 06/22/2019  7:41 pm  Show Profile   Bookmark this reply Add Bret to your friends list Get a Link to this Reply
Wait two years and I predict the 69's will be under $15 and the NGC 70's will be under $100.
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 Posted 06/22/2019  7:47 pm  Show Profile   Bookmark this reply Add jimbucks to your friends list Get a Link to this Reply
I wonder if the mint will release them into circulation, I haven't seen any information on this, but if so that will be huge. Well, maybe not so much since the number of the mint sets is unlimited, there may be huge numbers of them minted anyway.
Edited by jimbucks
06/22/2019 7:49 pm
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 Posted 06/23/2019  06:49 am  Show Profile   Check Foxwoods Man's eBay Listings Bookmark this reply Add Foxwoods Man to your friends list Get a Link to this Reply

Quote:
For how many years have there been W cents?


One.....
Edited by Foxwoods Man
06/23/2019 06:51 am
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 Posted 06/23/2019  10:23 am  Show Profile   Bookmark this reply Add BStrauss3 to your friends list Get a Link to this Reply
With such a low population graded (and lots of stories about quality problems), registry set chasers have to pay up or lose ranking...

It's all about the demand.

https://www.PCGS.com/setregistry/awards


Quote:
Do you have an award winning set? Find out by registering your set in the PCGS Set Registry.

Each year, the best sets in the following categories will receive an engraved award and a "Best of the Registry" icon by his or her set listing in the registry.

The deadline for the 2019 awards is Friday, June 28, 2019. All sets must be registered and updated no later than 5pm EST (2pm PST). Please plan ahead when sending potential set registry coins to PCGS for grading. We do not extend the deadline for any reason.
-----Burton
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United States
439 Posts
 Posted 06/23/2019  10:59 pm  Show Profile   Bookmark this reply Add MrPink2018 to your friends list Get a Link to this Reply
this average collector respectfully passes up buying into that frenzy. a W on a zincoln doesn't excite me. the stuff the W zincoln comes along with also doesn't do anything for me. I think i'd rather spend that kind of money on a 1909-S VDB, honestly.
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United States
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 Posted 06/23/2019  11:55 pm  Show Profile   Bookmark this reply Add Earle42 to your friends list Get a Link to this Reply

Quote:
I can't see the average collector buying into this frenzy, what do you think?

I think its rather evident marketers know the human mind works and have learned to take advantage (not necessarily a bad word in this case) of that knowledge. I like to call it the Beanie Baby affect.

PCGS has created am ingenious system to market their product by inventing the registry sets. This is just one way to incite people to pay more for a PCGS coin. In turn it incites more submissions by people who hope to have a coin graded at a high level.

as Bstrauss quoted:

Quote:

Do you have an award winning set? Find out by registering your set in the PCGS Set Registry.

Each year, the best sets in the following categories will receive an engraved award and a "Best of the Registry" icon by his or her set listing in the registry. The deadline for the 2019 awards is Friday, June 28, 2019. All sets must be registered and updated no later than 5pm EST (2pm PST). Please plan ahead when sending potential set registry coins to PCGS for grading. We do not extend the deadline for any reason.


Some people legitimately enjoy the competition proffered and so pay big bucks for the writing/opinion/label for a plastic holder containing a coin. A hobby is about fun, and some collectors enjoy their hobby by using this service.

If history teaches us anything about marketing systems though, some people are likely in the future to to end up losing a lot of money. If the overall hobby mindset turns back onto the coins only (not the subjective labels), there could be a Beanie Baby like crash.

At first the Beanie Baby fad took off and thousands were paid for certain animal shaped bean bags with no inherent value. After the initial frenzy and fun died away, people started to realize that plastic beads in a bag were not really worth anything and so the hobby crashed.

When the next evolution of grading (to make it verifiable instead of subjective) is introduced, the TPGs will be marketing the new and better system so the current artificial values/inflation of prices attached presently to a slab will be said (by the marketers) to be inadequate. A whole new cycle will begin.

- When I value " being right" more than what IS right, I am then right...a fool.
- How much squash could a Sasquatch squash if a Sasquatch would squash squash?
- Real men play Fizzbin.
Pillar of the Community
United States
2746 Posts
 Posted 07/16/2019  4:39 pm  Show Profile   Check SA4H's eBay Listings Bookmark this reply Add SA4H to your friends list Get a Link to this Reply
A very well thought and well-written post. Thanks Earle.

I like modern coins in slab too but NOT chasing top pop.
'Pytellc': I am still waiting for my $50 world coins from you, Mr. Carson Pytell!

*+*Bruce*+*
My coins available for trade. - My coins for sale - Coins I want/need.
"Living to Learn, Not Learning to Live!"
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Pillar of the Community
United States
6093 Posts
 Posted 07/16/2019  5:33 pm  Show Profile   Bookmark this reply Add Earle42 to your friends list Get a Link to this Reply
Personally I can see why people liked slabbed coins. There is a sense of security in having something "verified," and the slabs really are sharp looking. A "complete" set of a specific kind of label also can make a very attractive display and is fun to chase after.

I just do not like the ramifications that have come to a once-more-fun hobby b/c marketers have shifted collectors' focus (especially newbies) from where every coin used to have its OWN value based on MM/mintage/difficulty to obtain. Years ago discovering an S mint mark in change was seen as a special find since S mint marks are always lower mintage (a few exceptions). Even finding the very common 1970 S nickel used to be "special."

Now the market has shifted largely to the added/artificial value a slab puts on a coin. I say "artificial" b/c that value can disappear/change if the coin is cracked out. The keys of a set have become mostly all that is important and most of the rest of the coins in the set are termed "junk silver" unless, of course, in a high grade.

I am very much into the glass insulator hobby. Thankfully there is not a professional grading system (as of yet!). Each and every insulator has historic value to people in the hobby. Unlike coin collectors who have a term "junk silver," I have never heard an insulator collector calling even the common-as-dirt insulators that exist "junk glass." Words such as jewels, gems, etc. are more likely terms to use. in fact the hobby's main magazine is called Crown Jewels of the Wire.
- When I value " being right" more than what IS right, I am then right...a fool.
- How much squash could a Sasquatch squash if a Sasquatch would squash squash?
- Real men play Fizzbin.
Pillar of the Community
United States
2845 Posts
 Posted 07/16/2019  11:27 pm  Show Profile   Bookmark this reply Add morgans dad to your friends list Get a Link to this Reply
The glass insulator styles and designs are another collecting hobby of mine too. Since working for the local Electrical Distribution Company on Long Island, 1988 and by myself prior, I too enjoy collecting these multi-colored, multi-sized works of art, Whatever you collect, ENJOY!! It's just sand!
Pillar of the Community
United States
500 Posts
 Posted 07/19/2019  8:11 pm  Show Profile   Bookmark this reply Add Ballyhoo to your friends list Get a Link to this Reply
I like your choices John1. Unless one is an expert grader who looks at these day in and day out you'd be extremely hard pressed to tell a 69 from a 70 based solely on eye appeal. Either is a matter of preference, however I feel you'd base it more on the price than grader.
Pillar of the Community
United States
2845 Posts
 Posted 07/19/2019  10:36 pm  Show Profile   Bookmark this reply Add morgans dad to your friends list Get a Link to this Reply
I too have received a few scarred Cents. I also received at least 3 MS-70'S, with the more than dozen sets I ordered, .... NOT all bad......PS, Still awaiting another 6 sets too....
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