Plunging Prices On Lincoln Memorial Cent Die Varietys

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Author	Replies: 4 / Views: 909
luvmyCAM Pillar of the Community United States 1479 Posts	Posted 10/07/2017 7:20 pm Hello All I'm cobbling together a PCGS LMC variety registry set and have progressed into the big boy level $700+. The various methods I am using to purchase these coins (primarily auction) shock me. I am consistently getting coins at average of 60-68% of POP value, sometimes 55%. As I look at the PCGS value chart many of the good ones have nose dived since April of 2017. Being a newbie who is collecting only for entertainment I am thrilled at the current prices...but I do wonder how far down these variety cents may go? Oldtimers...am I experiencing my first bear market and doing the right thing buy snapping on these low prices? How have you Oldtimers reacted to or rode these drop in prices? Not in this to make money, but I have to confess my investment in these variety cents has turned into a wad of cash for this old Kansas boy. Inadvertently this has become an expensive past time. Crazybo I want your 1966 F'S-101 now! :) Report this Post to the Staff

Mark1959 Pillar of the Community 7234 Posts	Posted 10/07/2017 8:21 pm "Old Timers" Report this Post to the Staff
moxking Rest in Peace United States 17900 Posts	Posted 10/07/2017 9:17 pm If you purchase over a period of decades, you will definitely see hills and valleys. The last super drop was in 1989 and it was truly a great depression for coins. 18 years later, some coins still haven't recovered. But people who bought in 90-92 were able to scoop up some great buys. Every series also has its ups and downs. The only thing to watch out for is if someone stockpiles a given coin or series in particular grades with the intention of raising the prices and then selling fast. If you had 10 M. and it was your job, you could artificially influence certain specific areas. Report this Post to the Staff
luvmyCAM Pillar of the Community United States 1479 Posts	Posted 10/08/2017 02:54 am It seems exactly as you stated, I'm being dazzled by many distractions on the road to a die variety set of LMC's. I have fought and overcame my tendency to buy high grade PCGS non error cents in lieu of the major die Varietys. These 12, 18 and 32 dollar buys are adding up resulting in a lack of hard cash needed when a tough variety comes up out of nowhere. Am getting the hang of things but it sure is tough walking away from a tough one because of price being dramatically over pop. I started out paying retail but have learned the auction process and am doing drastically better. I understand this registry set could take decades and how tough it is putting a set together. I truly respect the sets shown on the PCGS website and wonder "how in the heck did they acquire this or that one". Am slowly learning trench warfare and how to make more intelligent buys. This hobby is a trip, its become a quest accidentally. Report this Post to the Staff
cladking Pillar of the Community United States 2271 Posts	Posted 10/08/2017 09:59 am You can't sell high until after you buy low. But what concerns me is that I know no reason LMC varieties should be dropping right now. This series is sure to get a boost eventually when they quit making cents. It's never a good idea to invest in coins but passing on bargains won't help pay for your collection. If you have too much money in it already I'd strongly suggest you only pick up the real steals and try to ride it out. Time don't fly, it bounds and leaps. Report this Post to the Staff
	Replies: 4 / Views: 909

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