2009 Lincoln Cent Proof Set From HSN

[Mark Buskell]

HSN is selling the 4 piece Lincoln Proof Pennys (PR70, DCAM, From ANACS) for $139.95.
They are also first day of issue.
I looked on eBay and the same set is selling at a buy it now for $500. I saw a set graded by NGC that sold for $1400.
This looks like a deal to me if you consider $40 for a 1 cent penny.
Please let me know what I am missing here. I know most of the things you see on HSN are way overpriced.
Also why the huge difference between ANACS and NGC.

[Gary]

Hey Mark...i watch alot of coin shows as well...for the enjoyment of seeing the coins...I was curious if you know where Jon Binns moved to? He was on Coin Country and then AVC and has moved on again? Any idea where he is!

As far as ANACS....the people from ICG took them over for some reason....and ICG was pretty sketchy!!! I personally...if i buy a graded coin...only buy PCGS!!

[David Kentley]

stay as far away from HSN as you can the lincoln penny set there selling for 139 dollars is NOT worth it you are just going to have them regraded by NGC,PCGS or DGS,the new ANACS is now part of ICG there grades are not worth the paper there printed on.the TV coin shows are the worst places to buy coins they are over priced and poorly graded,do a little surfing you will find there are lots of places that sell coins at reasonable prices,take the time to look.DO NOT IMPLUSE BUY FROM THESE TV COIN SHOWS.

[Dave]

How long ago did the ICG - ANACS marriage take place? Seems like it wasn’t too long ago that ANACS was on the respectable list.

David Kentley said:

stay as far away from HSN as you can the lincoln penny set there selling for 139 dollars is NOT worth it you are just going to have them regraded by NGC,PCGS or DGS,the new ANACS is now part of ICG there grades are not worth the paper there printed on.the TV coin shows are the worst places to buy coins they are over priced and poorly graded,do a little surfing you will find there are lots of places that sell coins at reasonable prices,take the time to look.DO NOT IMPLUSE BUY FROM THESE TV COIN SHOWS.

[Gary]

PCGS is the only way to go...DONT BUY DGS EITHER!!!

[Paul Marzovilla]

I concur about their website price of $139 but I could swear last night on TV the price was 499.99 and their were only 726 sets.

somethings wrong

[Steve]

Paul, what you saw for $499 was the complete 2009 18 coin PF70 set, which of course includes the 4 cents.

Paul Marzovilla said:

I concur about their website price of $139 but I could swear last night on TV the price was 499.99 and their were only 726 sets.

somethings wrong

[Tom Ecker]

The $500 set was the 18 piece proof set in PR-70. Just under 1000 sets total. The four Lincoln cents were 139.95, and just under 10000 sets.

If I remember correctly, the last time ANACS was sold, it was sold to people who used to work for ICG. They moved from Texas to Colorado and hired away most of ICG's staff. Then ICG sued becoase they claimed that the new owners had a "no compete" clause in their old contracts. I never saw what finally happened, except ANACS moved again to Florida. I thought that I saw both ICG and ANACS selling to TV peddlers.Maybe not.
ANyway, my understanding is that both PCGS and NGC keep population reports and allow people to have "registry sets" that compete to see who has the best collection. ANACS seems to only grade in the upper tier for the TV sellers. Just my opinion.

[Dwayne Schiller]

To settle the grading debate there should be an independent audit made. From this audit, a statistically driven grading calibration could be made. I think Mark Apsalon(Spare Change youtube fame) could pull this off with some help from a statistician. It would have to be a large sample of coins, say 100 or so. or maybe more. The sample would have to be large enough to represent enough data to yield a significant result. Then the data could be statistically analyzed for deviations in grading for each coin(a statistical spread). Those with the highest statistical spreads could then be regraded by the same companies to see how consistent they are with the first sets of grading.

Then, after the second round of grading each grading company could present the reasons for the grade they gave either in interview or written format. Until some real statistical analysis is done among the grading companies, you might as well just talk about the weather instead. It would probably be a lot more interesting and a lot more accurate than speculation on which company slabs coins the most accurately. I know that a lot of you claim to have enough experience with all the grading companies to make informed opinions, but the hard data would be a nice way to settle this debate, don't you think? Has this ever been done in any meaningful way? This is a question for all of the resident 'expert numismatists' that frequent this site.

[John W]

I have no idea if this is a lame question or a good question. Please excuse my ignorance.

If one wanted to try and get some Lincoln Cents graded, would one open up the rolls from the Mint and scour them for the best possible few and then send those in? Or is there another procedure? Is it even worth it?

How about taking cents out of the proof sets and sending those in? Maybe dimes and nickels also?

I truly have no idea if this is a dumb question or not.

[Buffalo]

Either could be worth having graded, depending on the condition, possible errors, and so on. PCGS requires membership, or submission thru an authorized dealer. If you intend to only submit a few coins, I would recommend finding an authorized dealer to submit them for you. Many can also offer very good advice on whether to submit a particular coin or not. This was not intended to be a plug for PCGS, I'm just not familiar with the submission procedures for the other TPGs.

John W said:

I have no idea if this is a lame question or a good question. Please excuse my ignorance.

If one wanted to try and get some Lincoln Cents graded, would one open up the rolls from the Mint and scour them for the best possible few and then send those in? Or is there another procedure? Is it even worth it?

How about taking cents out of the proof sets and sending those in? Maybe dimes and nickels also?

I truly have no idea if this is a dumb question or not.

[John W]

I am a member of NGC already. So will probably go that route.
I just scoured my proof sets, looking at the cents, nickels and dimes under the light and magnified. Seems like there are some scuffs and such on them. Is this normal for a proof set? Is it worth opening up the sets and checking them out further to find the best of the bunch? Do they usually look scuffed or blemished through the plastic? Are the sets ever the same once you have opened them?

The cents are obviously rolled, so once I open them, they are pretty much done.
So many questions......crazy.

Buffalo said:

Either could be worth having graded, depending on the condition, possible errors, and so on. PCGS requires membership, or submission thru an authorized dealer. If you intend to only submit a few coins, I would recommend finding an authorized dealer to submit them for you. Many can also offer very good advice on whether to submit a particular coin or not.

John W said:

I have no idea if this is a lame question or a good question. Please excuse my ignorance.

If one wanted to try and get some Lincoln Cents graded, would one open up the rolls from the Mint and scour them for the best possible few and then send those in? Or is there another procedure? Is it even worth it?

How about taking cents out of the proof sets and sending those in? Maybe dimes and nickels also?

I truly have no idea if this is a dumb question or not.

[Buffalo]

I did update my previous post-nothing at all wrong with NGC in my opinion. Regarding the proof sets, I don't know that the quality in one set really has much to do with the quality you will find in another. I have read several posts where someone bought several sets and quality was excellent, others who said they were not. The only way to know for sure is to look. I think you should usually be able to get a pretty good idea without actually opening the plastic holders. At least enough to rule out obvious problem coins. From there it just depends on what you find. Just to add, if they are obviously blemished, probably not much point to go any further with proofs.

John W said:

I am a member of NGC already. So will probably go that route.
I just scoured my proof sets, looking at the cents, nickels and dimes under the light and magnified. Seems like there are some scuffs and such on them. Is this normal for a proof set? Is it worth opening up the sets and checking them out further to find the best of the bunch? Do they usually look scuffed or blemished through the plastic? Are the sets ever the same once you have opened them?

The cents are obviously rolled, so once I open them, they are pretty much done.
So many questions......crazy.

Buffalo said:

Either could be worth having graded, depending on the condition, possible errors, and so on. PCGS requires membership, or submission thru an authorized dealer. If you intend to only submit a few coins, I would recommend finding an authorized dealer to submit them for you. Many can also offer very good advice on whether to submit a particular coin or not.

John W said:

I have no idea if this is a lame question or a good question. Please excuse my ignorance.

If one wanted to try and get some Lincoln Cents graded, would one open up the rolls from the Mint and scour them for the best possible few and then send those in? Or is there another procedure? Is it even worth it?

How about taking cents out of the proof sets and sending those in? Maybe dimes and nickels also?

I truly have no idea if this is a dumb question or not.