1957 Lincoln Penny

Let me throw in my Two Cents.

First, if I were going to advise a collector on purchasing a 1957 Lincoln in MS-67 here is how I would start.

Number 1. ONLY buy from a very reliable and noteable dealer or auction house. A name in the industry that is reconized by most active dealers. Preferably one that specializes in the Lincoln series.
Number 2. ONLY buy the top two graded coins. NGC and PCGS. (Of course I would suspect that any reputable dealer would also make this same suggestion).
Number 3. Most importanly of all. Make sure that you do your homework on any purchase of top material. Know your coin, know your grade, know your dealer, know your price, and most importanly know YOURSELF.

The difference between a $10 coin and a $2000 coin is in the details that 90% of collectors cannot accurately spot. Many think that they can, and this is 100% of the reason that low tier grading companies have such a good business.

SFDukie, after your search click on one of the auctions that came up. Below the auction result are the POPS lists, price guides, and matching grade prices realized. To go further you must be a member of PCGS, that gives you access to all Heritage sites. Mike

quote:

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Originally posted by catman

SFDukie,

I'm interested to see what the final bid will be on that coin. If I'm reading it right the seller is trying to justify he's opening bid request. It will be fun to watch.

catman

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LOYO are you here? Just making some observations among friends, here.
Catman,
Seller of the ICG 57D MS67 RD is fairly big time-, feedback in the hundreds, (looks good, but didn't look far), numerous coins for sale currently, mostly midlevel cost coins slabbed by - PCI and ICG, including many ICG modern MS lincs.
Today a new 1957D MS 67 RD linc (slabbed by gallery grading company-anyone heard of them before) was listed in a 1-day auc by shadowzen66, a seller and buyer of coins with a FB score of 56. open bid 1c, description says "values @ 2700" 4.75 s/h-
http://cgi.ebay.com/ws/eBayISAPI.dl...ageName=WDVW

Looking at shadowzen in toolhaus, some interesting things pop out. 3 negs, all from the same buyer, who bought yes- 3 gallery "slabbed" lincs in high MS, including what may be our 57d ms 67 RD from gallery
http://cgi.ebay.com/ws/eBayISAPI.dl...m=3966571255
Buyer left neg stating that coin "wasn't even close to description". sale ended 3/27.
Earlier, (3/17) another 57D MS 67 RD (no tracking number from gallery)
http://cgi.ebay.com/ws/eBayISAPI.dl...m=3962742193
was sold and buyer left a neutral FB "I got what I paid for"- winning bid was $4.25

However, seller shadowzen 66 sold a MS67 RD from gallery auc (ended 3/30) for 13.49 and left FB yesterday (4/7) "awsome seller as described will buy from again soon ......"

He sold another 57D MS67 for 7.50 and buyer was happy. so it would appear that shadowzen has at least 3 57D MS 67 RD from gallery (or did) and has 11 coins for sale all gallery "slabbed", all say "Values" or "trends" and are "high MS".

Don't know if shadowzen refunded that buyer who left neg FB for 3 high MS lincs. His Frankies are going for 15 to 32 dollars.
Should we give him some advice on how to list his coins so that knowledgable buyers won't get mad- mine would be to take coins out of slabs, and sell raw with good photos, and leave the hype regarding trends out- that is assuming he isn't dipping these or the like. I'd like to think he happened upon these and doesn't know why he got the neg and neut feedback, but he has 165 recently sold gallery "slabbed" coins with bad pics and hpyed "trends" I didn't check all the listings, but thats what it seems like on first glance.
Don

SFDukie,

You did well to find the examples you did. Can I ask you you..? Would you buy a coin from either seller or bidders in these auctions.?

I have a sellet, who in his title, claims the coin he.she is selling is worth $2700.00 and lets it go for $4.95.? I fight sellers who makes false statements like that. I have a whole roll of 1957-D's that would look much better than the one there selling. Send me your mailing address and I will send you one free of charge.

You did good...!

catman

Good eye Susan. I didn't notice That.

catman

Although I'm sure we'll be seeing quite a number of MS66's from this seller with the occasional MS67 thrown in for variety, I don't think any would grade above MS64, maybe 65. These were all open rolls. It's not like he purchased sealed mint or bank rolls. Then he might have had a chance at one. These were all cherrypicked. He's taking MS63 coins, putting them in a generic slab and bumping the grade a lot. Sad thing is, there is no way to prove it, so he'll just keep right on going.

OKAY! Thanks for all the info really the coin is not for myself but as a gift to my step father but I wanted it to be a surprise! So I couldn't ask him for input! I finally got a hold of the owner of this particular coin shop and he tells me all of his grading of anything in the store is done by the GGC-Gallery Grading Company so of course my next question is anyone ever heard of them are they reliable? The coin in questions is in a plastic sealed holder (not the normal white paper 2x2) The coin looks like a brand new coin no scratches no discoloration I don't have a digital camera so I can not show a picture! I can't believe all the input I got off this one coin! You guys are GREAT!!