NGC 1999 Lincoln Memorial Cent Close AM Business Strike

I'm pretty sure 1998, 99, 00 cents are supposed to be Close AM. The "rare variety" is the Wide AM for these dates.

Maybe they're betting that people don't know the difference. But if someone's in the market for an MS67 1999 cent...they should know a thing or two about coins, like close/wide AMs.

Taken from the Teletrade link above, I think this writeup is just as faulty/misleading as many of those ebay auctions.


Hmm...big difference between a 1999-S proof Close AM and this MS coin. One is rare, and the other not.
But I can only guess NGC labels the slab as " Close AM" to actually prevent confusion? That's not a variety.

No, both NGC and PCGS grade 1998, 1999, and 2000 business strike cents with no "AM" designation at all. But they also slab some with " Close AM" on them. The submitter would have to pay extra to get that attribution (I suppose).

So I guess this is merely an example of fools and their money parting ways.

I think the slabbing company should share culpability on this. They were irresponsible in slabbing normal coins with their obvious and common variety. They should know full well that when a 'variety' is mentioned on the slab, people will automatically assume it's the rare one without looking.

The actual story, however, is more likely this:

These varieties were not discovered until 2002. From 1999 through 2002 all 1999 cents were slabbed as '1999' cents. After the discovery of the variety, BOTH varieties could be slabbed as to what they are, thus the existence of the two different designations.

So there are actually three different sets of coin numbers for these cents. No variety and Close AM variety (which are actually identical), and Wide AM variety which is scarce.

I wonder if they would create a new coin number if someone insisted on having a 1960 cent slabbed as a "large date"?

Quote:
"This coin features a smaller than typical gap between the letters AM of America"


Really?
If that were the case, than exactly how small is the "TYPICAL" gap supposed to be on any 1999 cent that is not a MS67 RD PL?

Completely wrong and misleading.


Quote:
First noticed on Philadelphia and Denver Cents in 1992 and later as well in 1999 SAN FRANCISCO issues THESE varieties are noted as extremely rare.

I highlighted "SAN FRANCISCO" and THESE, so in reality this line is correct in what they said.


Quote:
Making this variety rare is the fact that the close lettering was a specific die trait of business strike issues for Philadelphia and Denver.

This line is double-talk!
State exactly that the rare Close AM was for 1992 P & D cents and the 1999S Proof cent mentioned in the above sentence.
They make it out that this coin is the extremely rare variety!

How can this Business Strike Close AM be extremely rare and then be a specific die trait of Business Strike issues for Philadelphia and Denver?

The coin for sale obviously is not a S mint (PROOF) which is the extremely rare and valuable one as a 1999S Close AM.


This is a classic example of knowing exactly what you are reading and looking at before you buy it! "CAVEAT EMPTOR"