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 Replies: 14 / Views: 1,626 |
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Valued Member
United States
122 Posts |
For the last couple of days I have been looking for a 1970-S small date Lincoln Cent. The prices I see on epay are like $40 to $60 and I also had a forum member offer one to me for $50 including shipping. According to the Numismedia fair market value price guide I see this coin valued at $21.85 in MS60 condition. Am I missing something? Are these hard to find or something? Looks like if they were hard to come by then the FMV would be higher. I'm confused.......  |
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Pillar of the Community
United States
4085 Posts |
Agree with you - prices seem high on these lately.
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Pillar of the Community
United States
4000 Posts |
I'd almost rather have an AU58 over an MS60.
But, I routinely see BU's going for $30-40.
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Pillar of the Community
United States
3592 Posts |
Sounds like they may be hard to come by in your case anyway. I've got (3) in BU and one proof just waiting for the price to go higher. I do generally use ebay as a price guide for selling or buying. |
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New Member
United States
37 Posts |
Current issue of the Grey Sheets list bid on that coin at $38 in BU. That is wholesale so add a dealer markup and the prices you've encountered probably aren't too far off.
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Bedrock of the Community
United States
10045 Posts |
Quote:
$21.85 in MS60 condition. I personally have never seen a dealer sell an MS SD that low. I've sold about 6 "BU" over the years, ranging from $40-50--raw, from mint sets, not strictly graded (since I'm hardly an expert). For a bit of reference, here is one I sold for $50--a nice example, perhaps better than MS60.   |
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Valued Member
United States
268 Posts |
How about for the Proof version, I still need one for my Proof Lincoln Memmorial set.
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Pillar of the Community
United States
3276 Posts |
When people say it is BU, what grade does that generally imply? MS range?
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Pillar of the Community
United States
4085 Posts |
BU is an older term that pre-dates the Sheldon scale. Typically:
BU = MS60 to MS62
Choice BU = MS63 to MS64
Gem BU = MS65+
However, BU has become (in my opinion) a more generic term for an uncirculated coin with a lot of luster and so I think the average BU coin is probably in the MS63 range.
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Bedrock of the Community
United States
20753 Posts |
actually if you throw in postage and handling, any price of about $30 to $40 isn't bad. If you add the additional, you'll end up with about $50 anyway. And if you get one that looks like the photo from DVCollector, go for it.
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Pillar of the Community
United States
3276 Posts |
thanks a lot kenkat, that makes a lot of sence.
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Valued Member
 United States
122 Posts |
Thanks for the insight. The Numismedia FMV prices had me badly off base.
I knew everyone here that was in touch with these coins would know how much they sell for.
Another thing that seems out of whack with the Numismedia FMV is that they list the PROOF version of this coin at LESS that the MS60 version. (MS60 - $21.85, Proof - $20.70) Go figure!
Oh well........ live and learn.
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Pillar of the Community
United States
3592 Posts |
The proofs were going for about $70-80 on ebay last week. |
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Pillar of the Community
United States
7629 Posts |
"MS60" refers to a coin that's junk other than the fact it's uncirculated (has no wear). It's the lowest grade on the uncirculated scale. That's why they are valued so low. I would MUCH rather have an AU50 as to an MS60.
Another thing you have to remember is that the values for brown MS coins is FAR lower than the value of red MS coins.
Current values of MS63RD to MS65RD 1970S small date cents support the price point of $30-$50 you have been seeing. What you are missing is that you are comparing apples to oranges. Most of the coins you have seen are probably at least MS63RD, and you're looking at MS60BN values.
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Valued Member
United States
111 Posts |
Quote:
However, BU has become (in my opinion) a more generic term for an uncirculated coin with a lot of luster This raises a question for me. So, I hope it's alright to ask this here. I recently purchased some penny rolls that were advertised GEM/BU. When I look up the definition for BU here it says that it basically is an uncirculated coin that has lost it's luster. That being said I'll be content with these, since most do have luster. But, now I'm confused. |
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Replies: 14 / Views: 1,626 |
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Posted 01/20/2011 2:16 pm
