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 Replies: 23 / Views: 2,342 |
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Pillar of the Community
United States
2764 Posts |
I went to my local coin shop on the weekend and look for some Lincoln Cents. The dealer gave me an offer: He'll build me a complete 1934 to 1958 set in MS65 RED grade for Two-Hundred-Something dollar.....
Here are my questions to those of you experienced Lincoln Cents Collectors:
How does the deal sound, what do you think?
What was your experiences in getting these coins in the above grade?
Should I build the set from individual coins (buy one at a time)?
Thank you for all inputs.
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Pillar of the Community
United States
2602 Posts |
Might be a good deal. Are your grading skills strong enough to be sure that each coin is MS65 or better? Between 44-58, 2007 RedBook has nearly all of them at $2-3 ea at 65 but at 63 only 25 cents to $1.00. RedBook does not list 65 coins from 34-42. You'd have to be a pretty strong grader to distinguish 63 from a 65. I also think about the time long in the future when I sell- is the eventual buyer going to think they are 65. See what they are selling for on ebay. See if you'd get close or over $200 by buying one coin at a time, factoring in shipping. If you assume all his 65 are only 60s, book value of the MS60 for just the coins from 34-42 would be 242.25, so it seems like a good deal. |
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Pillar of the Community
United States
2600 Posts |
Silent, mycrob hit on the head, can you tell the different grades approximately and whether or not the coins has been cleaned. I know a ton of people that cannot tell a slider from a MS grade coin and they pay to much trusting the grading skills of the seller. If they truly are MS64/65, it is a good deal.
Jim
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Pillar of the Community
United States
6326 Posts |
My museum quality Lincoln cents book (not the cheap paper/cardboard one) is getting more full all of the time. I have 1909-1973 all mint marks in it. The years 1930-1973 is 95% complete for me. I have many 09-30 too but am still searching for the ones I need to finish. Now, mine are in all various grades..... so I couldn't say what the "complete" collection would be worth even graded conservatively by an unprofessional like myself, but "I" would take that deal of yours in a second ! I've hit estate auctions to get "unsearched" containers of them...... I bought 1000 wheats one time from an auction where a guy in his 80's had died of a heart attack. I was the first one there and "nobody" looked through them....... I got a lot of good condition semi key dates ! I have several 1909's, but not the VDB S or the 1925 (the two prized ones) I expect to buy those eventually, but you never know..... could get lucky at an estate auction buying "batches" of them.
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Pillar of the Community
United States
936 Posts |
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Valued Member
United States
314 Posts |
Bruce, I paid 140 for the bu 1934 thru 1958 set in plastic holders for my set. I bought an secord set 1941 thru 74 bu set for 40 bucks on ebay. On ebay I saw an 1941 thru 2007 bu set for like 45 to 50 dollars in foldors. It looked like an good deal. Its still there. Back serval monlths ago I before I bought 1934 thru 1958 set. I tryed price the 1934 thru 1940 set of coins from serval places. To get the 34 thru 40 set I would have spent 150 to 300 dollars looking at coins one at time. http://cgi.ebay.com/1941-2007-LINCO...NS_W0QQitemZ220181248461QQihZ012QQcategoryZ31373QQssPageNameZWDVWQQrdZ1QQcmdZViewItem This If you I would buy its Below dealer Greysheat and its good deal from looking at. Its onely 47 bucks buy it know. If you have the 59 thru 2007 set already. I would buy it and refill the 41 thru 58 section full of brown coins. Relist it after 41 thru 58 bu coins all pulled for 35 bucks or whatever. To the dealer who is trying sell you 1934 thru 58 set for over 200 bucks. Try to offer him 130 to 140 on it. Thats bid and ask on greysheat. If not onley pay 150 tops for it since that greysheat prices. The dealer dont need to overcharge for it. If dealer wants to sell it and he will I think at wholesale prices. Chevrolet454ss |
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Pillar of the Community
United States
7123 Posts |
I like to pick my own coins ,, and if the dealer will let you pick your coins from his inventory to build the set ,,at a little over 200.00 I would probably jump at the chance .
But like the others have said some real grading skills will be needed to pick the 64's and 65's .
even though there are no real keys after 1934 these coins in MS 64 to 65 are a nice set .
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Pillar of the Community
United States
6326 Posts |
I bet the prices for all wheats will rise slightly to moderately when they change the design on the Lincoln Cent in 2009. More people will be interested in the old ones for sure. |
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Valued Member
United States
314 Posts |
Chrsb, I have quastion for you why did you pay that dealer 120 bucks for the 1940 thru 2007. Thats 70 dollars to much money set. I checked completed sales on same dealer on his sets is is selling. He sold one set to you 120 and another set for 50 bucks to one guy. http://cgi.ebay.com/1940-2007-UNCIR...ET_W0QQitemZ140181024325QQihZ004QQcategoryZ39457QQssPageNameZWDVWQQrdZ1QQcmdZViewItem If you look at completed sales at is auction. You could bought same set for 50.99 like he sold becides paying 120 for it. Its lookes like he riped you off for 70 bucks. I dont know but it dont look good. You should try to get your money back from that dealer since you overpaid on it. I know I would try. I let you decide on that one. I know ebay is an auction and you should try onley to bid max on what greysheat ask prices are any coins. Try to beat the dealer at his game if you can. If you lose auction there always the next auction from an another dealer or another seller out there. Dont ever give the dealer what he wants unless its at greysheat prices or wholesale or below or at fair market value. Reason I say that if you sold your 1940 thru 2007 set to dealer. All they will pay is maybe 20% below greysheat prices I learned. Good luck Chevrolet454ss |
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Pillar of the Community
United States
936 Posts |
Chevy, I did not pay the $120, I paid $68 for 1940-1959 and $32 for the 59-2006. I bought mine off of ebay through the same seller with some additional cents (some in the 30's also). I was just showing Bruce some of the options along with some auctions. If he looks around enough he can probably get them for cheaper than what we paid. Thanks for the information though. |
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Pillar of the Community
 United States
2764 Posts |
Thanks guys, for your thought and sharing of information.
To tell you the true, I am not really a grader of MS coins (I am learning/picking it up by reading books, one from Chuck Daughtrey and the other from David Lange). I know the different btw color and low MS vs high one but for the exactly number/grade. I went to his shop quite often and all of his staff act/treat me like a "true dealer" would. One of his partner was not really nice and sold me a few overpriced Roosie (I didn't tell the owner yet, but his other staffs asked and they know too)...... well, he/the owner just bought the guy out so how his shop should be cleaned of rat....
The owner, the one that I will deal with on Lincoln is very knowledgeable and he'd been around for 25+ year, at the same spot/city for around 15 yrs so I can see his reputation is pretty high (I know that may not be good enough to risk all my money on him). I'd talk to him a few time about building my complete Lincoln Album and I am looking forward for his help (that's a big hint that I will spend at least a few thousands on him) so I don't think he want to risk this business relation.
I just picked up some Lincoln (pre 1934) from him, didn't carry enough cash with me (they take plastic but then I have to pay sell tax on the transaction) so I will pick them up latter this week. I'll post some pictures for grade and price evaluation.....
I think I asked before, the same dealer offered me a 1995 DD graded by PCI in MS65 RD for $45 but I didn't take his offer - was not intended to have one yet.... now, I am thinking of wanting one.....
I'll update you guys on the progress. And I'll definitely look up those link for 1959-2006 set.
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Valued Member
United States
439 Posts |
I dunno, that sounds like a decent offer to me if, like others have said, they are what he says they are. If the dealer has been treating you good I'd go for it. For those years, and with a bit of profit for the dealer, it doesn't sound bad at all to me but if there are any problems with them I'd back out. Make sure they are full on red and devoid of any nasty looking scratches, bag marks etc. No toning, nothing. You can't really expect MS70s but for that much they better make you happy or just tell him you'll keep looking. If you still want to shop around I've dealt with a guy on ebay who deals in those years and has some really pretty coins. I've ordered from him several times and been very happy with what I've got. A set of those years from this guy will be pricier than what your dealer is asking but maybe if you contact him and make an offer he'll work with you. The guy goes by young8590. |
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Bedrock of the Community
United States
19935 Posts |
quote:
Now to buy the 30's it will get a little expensive once you get into the 30-33 especially the 31-S. There are other sellers out there with BU sets for cheap, they may not all be MS65, but they are complete BU sets.
You got that right! I had a very, very tough time finding 31-33 in nice, full red, BU condition. In fact, I'm still missing the 31S and 31D in BU....those are going to cost me a lot. Lincoln Cent Lover!VERDI-CARE™ INVENTOR https://verdi.care/
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Pillar of the Community
United States
2764 Posts |
The dealer said he has all BU rolls all the way back to the twenties.... what's the current "market value/price" (% vs CDN ask price?) for them 30-33 in BU full RED right now? May be I can ask him to take a look at his inventory for some.... I'll need those for mine and may be I can find some for you too, Thad.
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Valued Member
United States
314 Posts |
Bruce, I wish knew that dealer also your dealing with. Reason I would love to add blazings reds or bu coins from 1909 Thur 1933 to my set. My set has lots brown down there. In last year I bought over 15 sets of pennies on ebay to cherry pick coins to try build the best I can. Those bu coins from 1909 Thur 1933 are tough big time. I need to dump maybe 15 sets someplace since I have to many sets. That dealer tryed to sell that 1995 double die for 45 bucks. Buy it if you can. Reason ebay dealers are asking 150 to 180 on them. I want to buy one for my collection and dont want overpay for it like that. The more stuff I see on ebay from dealers trying sell there coins at inflated prices and shiping. I am afraid to buy an 1955 double die or proofs from 36 to 42 to finish my book. I don't want overpay and lose money if I need to sell it. Its like that with all coins on ebay . Those dealers are trying rip people off big time I am learning. 10 dollar coins for 150 bucks etc. 1910s cent for 150 that cost 10 to 15 bucks off the ebay or on ebay from another seller. 3000 for an 1983 double die in slab for 2800 dollars. You can buy it for 250 to 500 maybe off the ebay. 425 for 1914 d cent from ebay dealer. Serval monlths ago I bought complete set for 495 complete with proofs, 14d, 31s, 09s, 22 plain for 75 bucks more. I resold at fair market value for 430 on ebay minus 22 plain, 1909 s coins, 70 small date. I feel bad for you trying to build an complete pennys after all I went Thur trying build my set. I spent over 5000 to 10000 trying to build it and come find out its only worth 850 bucks complete to an coin dealer or 500 to 600 fair market value on ebay minus the 1909 s.v.d. coin after looking at tons of sets on on ebay in last serval monlths. I still have my 13 to 15 extra sets I can sell to help get my money on it on building my set. Take my advice dont spend thousands trying to build your set. Its not worth it. Trust me I know after building my set . Chevrolet454ss |
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Pillar of the Community
United States
936 Posts |
One more point I would like to make concerning prices, I was reluctant to post prices because there is always someone who has found a better deal or better coin. As long as Bruce is happy with his dealer and his prices then it really does not matter what he pays for his collection. When I buy my cents, I sometimes pay more than graysheet because I like the look of the coin or it is a hard one to find. A good portion of my cents have some sort of toning or character that I think deserves an higher price, so I pay it. I was at my local show recently and was talking to the dealer who a lot of my collection comes from, he remembers my name, some of the stories I have told him, is nice to my 3 year old when I take him and gives me good discounts on coins, when I was leaving he shook my hand, told me to have an happy holiday, thanked me for my business and was sincere about it. It might not be much to some people, but to me it is worth maybe spending a few extra dollars sometimes. Just my opinions-
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Replies: 23 / Views: 2,342 |
Posted 12/10/2007 08:38 am
