The One And Only PCGS MS-70 Lincoln Cent On Teletrade

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Author	Replies: 24 / Views: 10,140	Page: of 2
Bryan1315 Bedrock of the Community United States 14454 Posts	Posted 09/02/2006 12:00 pm There has been only one Lincoln Cent ever graded by PCGS as MS70 in the 20 years they have been in business, it is now considered the "Holy Grail" of Lincoln Cents by many. This coin was announced as being the only one ever graded by PCGS as MS70 (not SF or proof) on August 29,2006, here is the Press Release: PCGS Certifies First Perfect Business Strike Cent - August 29, 2006 It took 20 years and over 160,000 tries, but in August 2006, the Professional Coin Grading Service (PCGS) finally assigned the MS-70 grade to a Lincoln Cent struck for circulation. The historic coin is a perfect 2003 Cent in full Red MS-70. Other Lincoln Cents, such as Proof and Satin Finish coins, have earned a grade of 70 in the past, but those were coins produced through special minting processes designed to produce coins of near-perfection. The fact that this coin is a "business strike" meant for everyday commerce makes it all the more special, since no special steps were taken to ensure the quality of this piece when it was made. According to Jaime Hernandez, Price Guide Editor at PCGS, "This coin is the Holy Grail of Lincoln Cents and something for which we have been searching for two decades. If this coin comes on the market, the competition for it will be fierce. Every advanced Cent or type collector will want to own this coin." In 2009, the Lincoln Cent will celebrate its 100th Anniversary. Will another perfect MS-70 Cent show up anytime soon? "Not likely", says PCGS President Ron Guth. "This is a remarkable coin and one of the very few that will ever be able to meet PCGS' strict requirements for the MS-70 grade." Now Teletrade has released this Press release: The 2003 1¢ PCGS MS-70 Red It took 20 years, but in August 2006, the Professional Coin Grading Service (PCGS) finally assigned the MS-70 Red grade to a Lincoln Cent struck for circulation. This historic coin is a perfect 2003 Cent in full Red MS-70 and is being offered in Teletrade®'s Premier Plus auction to be held on Thursday, September 28, 2006. Ian Russell, President of Teletrade® commented: "This is the first time PCGS has given a circulation strike Lincoln Cent the MS-70 Red grade, and I am pleased Teletrade® was entrusted with its sale.... This is a rare opportunity to acquire the 2003 1c PCGS MS-70 Red, which is likely to end up in one of the top Registry sets." So this may be the "Historic" linconl cent sale that everyone has been waiting on Report this Post to the Staff

SsuperDdave Moderator United States 23522 Posts	Posted 09/02/2006 12:24 pm This sale is going to define "moon money." Report this Post to the Staff
Bryan1315 Bedrock of the Community United States 14454 Posts	Posted 09/02/2006 12:41 pm here is a picture of the coin from the TeleTrade website, they do not have the coin imaged in their system yet so this small picture is the only one available right now SuperDave, I agree this will be the coin that will set records for a Lincoln Cent because EVERYONE with a TOP 10 Registry set is wanting this coin and probably some that do not have a TOP 10 set, but the heavy hitters up there are just waiting to pull the trigger when this thing comes to auction. It being the only one in 20 years to reach this grade and it being so close to 2009 which they will probably change the design (so not a lot of time to have more ms70's to ever come out of PCGS) is making the Lincoln Cent registry builders go crazy over this coin. The only thing that would probably make it bring more money is if this was December 2008 when it went on sale, and maybe someone will buy it and resale it around that time and make a nice little hunk of change if no more 70's ever come out of PCGS. I beleive PCGS will never grade another 70 just because of all the publicity they have gotten from this one coin, it will definately make alot of resubmitions come in on the ones that have received MS69 RD on their coins so PCGS is probably going to make a bundle off this being the only MS70 Edited by Bryan1315 09/02/2006 12:44 pm Report this Post to the Staff
Southern Yankee Pillar of the Community United States 891 Posts	Posted 09/06/2006 9:01 pm That baby is going to go for big money. To many people with to much money. What would happen if this coin would start to get spotty. Would it still keep the grade? Report this Post to the Staff
fengk Pillar of the Community United States 986 Posts	Posted 09/06/2006 9:20 pm I think that PCGS would be obligated to buy it back...at an insane price. Report this Post to the Staff
Bryan1315 Bedrock of the Community United States 14454 Posts	Posted 09/06/2006 9:23 pm yep, they have a grade guarantee and if something happens to the coin that makes it not the grade that the holder says, they will pay you the difference between the grade it is the second time and the grade it was when sent in for review or they can swap it with a coin of the same grade (but this being a MS-70 it aint gonna happen). The difference between a 2003 MS-69 and a 2003 MS-70 will be a HUGE chunk of change, I would tell them to pay me in all MS-69 cents Report this Post to the Staff
wrk4lvg Pillar of the Community United States 756 Posts	Posted 09/06/2006 9:36 pm any status on this coin? In terms of it's sale price? Report this Post to the Staff
Morgan Fred Rest in Peace United States 2684 Posts	Posted 09/06/2006 10:23 pm Drat! I had an MS-70 Lincoln a couple weeks ago, but I spent it on bubblegum. Report this Post to the Staff
TLS5933 Pillar of the Community United States 1703 Posts	Posted 09/08/2006 7:47 pm quote: Originally posted by Morgan Fred Drat! I had an MS-70 Lincoln a couple weeks ago, but I spent it on bubblegum. Tou must have had 99 more to go with it. Report this Post to the Staff
Bryan1315 Bedrock of the Community United States 14454 Posts	Posted 09/08/2006 7:58 pm quote: Originally posted by wrk4lvg any status on this coin? In terms of it's sale price? The auction will be held September 28th so we will know after that what it sold for, but I bet it will be the single most expensive Lincoln Cent (without a variety) that teletrade has sold Report this Post to the Staff
Morgan Fred Rest in Peace United States 2684 Posts	Posted 09/08/2006 8:11 pm With all the hype from Teletrade and PCGS, it makes me wonder if this isn't a publicity stunt of some sort. Nobody has come forth to state s/he is the owner of the Lincoln. Also, I'd really like to see this Lincoln side by side with an MS-69. I can't tell the difference between my ASE MS-69 and MS-68; they both look perfect to me. Report this Post to the Staff
Bryan1315 Bedrock of the Community United States 14454 Posts	Posted 09/08/2006 8:35 pm yes they have, the original owner came into PCGS/CU forums and talked about the coin and claimed ownership of it, he also sent out emails to every one with a top registry set of Lincoln Cents about purchasing the coin. The owners name is Karl Anderson Edited by Bryan1315 09/08/2006 8:41 pm Report this Post to the Staff
Morgan Fred Rest in Peace United States 2684 Posts	Posted 09/08/2006 9:17 pm Sounds like he's doing a little groundwork before making a killing. Thanks, Bryan! Fred Report this Post to the Staff
wrk4lvg Pillar of the Community United States 756 Posts	Posted 09/08/2006 9:33 pm quote: Originally posted by Morgan Fred Sounds like he's doing a little groundwork before making a killing. Thanks, Bryan! Fred Any guesses or rumors floating about what some of the big guns are willing to bid on this coin? Report this Post to the Staff
Bryan1315 Bedrock of the Community United States 14454 Posts	Posted 09/08/2006 9:42 pm Oh Yeah! everyone with a TOP 5 set has shown interest and has tried to buy the coin before it went to teletrade Report this Post to the Staff
wrk4lvg Pillar of the Community United States 756 Posts	Posted 09/08/2006 9:59 pm quote: Originally posted by Bryan1315 Oh Yeah! everyone with a TOP 5 set has shown interest and has tried to buy the coin before it went to teletrade Wouldn't the seller chance to make a larger profit from a penny by selling it on his own, rather than on consignment? Report this Post to the Staff
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