e-bay half dollar

[goldinmypan]

OK what am I missing. This seller has 100% positive feedback. I've scaned his feedback sales and they all seem reasonable. I'm sure that the scratches I see on this are on the plastic holder but even still who would pay $6800 for a 65 proof. What am I missing.

http://cgi.ebay.com/1965-SMS-KENNED...0QQihZ004QQcategoryZ41103QQrdZ1QQcmdZViewItem

 

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[HobBob]

Link to the sale?
Thanks,
Bob

 

[goldinmypan]

sorry did this post the link?? see above

 

[Heavy Chevy]

Hey goldinmypan,
A 1965 MS68 Cameo Kennedy half is probably hard to find.
I haven't seen many in that grade on EBAY.

I have two graded Kennedys.I have a 1965 NGC MS65 and a 1965 PCI MS66.
1965 is my birth year.

There are sellers who are good people on ebay.Then there are those who will take advantage of you.

Do i feel the coin is worth that price? NO !!! Are some people with more money than i willing to pay such steep price ? YES !!

Just remember this. How many half dollars do you see circulating ? People are still hoarding them.The mintage in 1965 was over 65 million. They aren't rare !!

There could be tons of 1965 Kennedys in MS68 that just havent been graded yet.

PS: My latest (April 2006)Coin Values Monthly Magazines has these listings for a 1965 Kennedy half :MS67=$350.00 SMS(PR68C)= $275.00

Just some food for thought,

Mike in SC

 

[Showtime]

Mike is right It is a good but Fairly common coin. Graded at a 65 makes it a bit more uncommon but the ebay listing is just way overpriced. I don't think you're missing anything, or if you are i am too.

 

[HobBob]

I'm with Mike... at a total loss to explain why someone would bid $6800 for this coin. Unreal!!
I've got a '65 in fine condition that I would be willing to part with for $1200...
HH,
Bob

 

[Immy]

Part of the explanation might be the astronomical auction prices some ultra-high grade modern coins have been realizing lately, some in five-figure territory. Price guides are just that, guides. Back before eBay began, these guides represented reliable estimates. Now they can vary greatly depending on recent auction results and ever-changing population reports. My guess is this guy is trying to capitalize (translation: exploit) on this trend.

 

[1320]

Could be a typo?!

 

[goldinmypan]

That was my thought too since his other transactions seemed to be normal, price wise.

 

[1235CE]

No, not a typo....A 1963 Proof Memorial cent (proof 69 Ultra Cameo, I believe) recently went for $39,000....supply and demand at it's finest....

HH all
Greg

 

[Heavy Chevy]

Hey gang,

Memorial cent mintages for 1963=754,110,000.
Of these were 3,075,645 Proofs.

Seems to me that a proof 69 of these would not be rare. Even an Ultra Cameo.

A proof coin is supposed to be in that good condition.

People pay for those coins believing they are the only ones. Someone could send in a dozen Proof 69 UCAM's for grading tommorrow. Then your coins value would go down due to "Supply and Demand."

Later ,

Mike in SC

 

[1235CE]

O.K. Proof70 DCAM.....This is straight from Heritage auction site...


Heritage Numismatic Auctions put together nine sales in the opening two weeks of 2003. The sales covered the gamut of numismatics, from foreign to paper money to U.S. coins. There are hundreds of prices that are worthy of reporting. Here are eleven of them:

1911 Canadian silver dollar (PCGS SP65) - $690,000
1856 Flying Eagle cent (PCGS MS66) - $103,500
1861 Indian cent (PCGS MS68) - $54,625
1877 Indian cent (PCGS MS66RD) - $77,625
1963 Lincoln cent (!!) (PCGS PR70DCAM) - $39,100
1796 Draped Bust, SE quarter (PCGS MS63) - $50,600
1920-D Standing Lib quarter (PCGS MS68FH) - $132,250
1920-S Standing Lib quarter (PCGS MS66FH) - $60,375
1921-S Walking Lib 50c (PCGS MS65) - $65,550
1921 $20 St. Gaudens (PCGS MS62) - $62,100
Panama-Pacific $50 Round (PCGS MS65) - $78,200

 

[Heavy Chevy]

Hey 1235ce,

Oh i believe you .I never doubted you.
How in the world a 1963 Lincoln is even in the same league with those other coins you mentioned is beyond me.
As you say it was an auction and several rich people probably got into a peeing contest over it.

Great info,
Take Care,

Mike in SC

 

[1235CE]

Hey Mike, I was actually correcting myself (I originally said proof 69)......If money was no object I would pick any one of those 11 coins listed before the Memorial......I dig enough Memorials as it is, don't need any more...

HH all!
Greg

 

[MalteseFalcon]

I am astonished...39 Gs for a Lincoln Memorial....one with no errors!

I saw Jay Leno on a show about his car collection the other day. He had found a Deusenberg in a garage not 3 miles from his garage where he keeps his collection.

He said "I am the poster child for people who have more money than sense..".

I would say the guy who paid 39,100 for that penny has "more money than cents"!