What do I do with this?

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jvineyard
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What do I do with this?

#1 Unread post by jvineyard »

Hi everyone,

I recently bought 2 1953 D Lincoln Wheat cents in PCGS holders graded MS66. Under examination at home, I discovered they are both RPM FS-502. My question is if I am thinking about resale value what is the best option. I paid the market price for a 1953 D Lincoln MS66 so should I send it to PCGS to attribute the variety and reslab or just take good photographs and sell in current slabs? Or another option I have not considered. I tend to think based on the value of the FS-502 in MS66 it would be worth it to send to PCGS for attribution but honestly, I have never discovered such a valuable variety on a slabbed coin that wasn't already attributed.

Any guidance or stories from your personal experience would be most helpful. Thank you in advance!

Best,

Jared

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Earle42
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Re: What do I do with this?

#2 Unread post by Earle42 »

The best thing you could do is find what a sold version of this went for in same condition. The reason being that the fees you would have to pay to have PCGS re-slab it might be more than what any added value form being an RPM might bring. Cjeck eBay SOLD items and Heritage auctions.

Personally, although I rarely buy/sell slabbed coins, I did once sell a slabbed DDR 1946 Half dollar PCGS had not marked as being a DDR. As you suggested, I just took pics and showed it was a DDR. The coin sold for regular value as if the label had said it was a DDR.
I think the very notion that a person is a a variety collector means they are, by nature, used to looking at details of the coins (not the plastic) enough that the label means less to them than to people who just collect slabs without worrying about evaluating what is in the slab to any great degree.
Fact Check the grading Companies:
Fact checking grading company shortcomings on NO FG halves:
https://tinyurl.com/yalrstjz or higher resolution version: https://tinyurl.com/y7rksxu8

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Re: What do I do with this?

#3 Unread post by jvineyard »

Thanks for the quick and informative reply. I should have mentioned in my original post that I did the market research. So on Great Collections here are the recently sold examples

8/2020 PCGS MS-64 $225
6/2020 PCGS MS-66 $567

PCGS lists a total of 15 graded examples in MS66 with 1 higher out of a total of 103 graded.

The problem is it is a rare variety with not many graded examples. Recently a raw copy (in about MS-61 to MS-63) sold on eBay for $70 with photos that did not show any die markers or evidence of the RPM.

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Re: What do I do with this?

#4 Unread post by Earle42 »

Now look up the cost of a normal one of these with same date/MM/grade, the price PCGS will charge you (plus membership fee) to make the change, and factor in any fees the venue through which you would sell it will charge. This is the only way to know if it will profit you.
Fact Check the grading Companies:
Fact checking grading company shortcomings on NO FG halves:
https://tinyurl.com/yalrstjz or higher resolution version: https://tinyurl.com/y7rksxu8

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Re: What do I do with this?

#5 Unread post by jvineyard »

Earle42,

On an unrelated topic, I really like your paper on fact-checking grading companies. I am a scientist by nature and a researcher/statistics by trade so I appreciate not only the time you spent collecting and organizing your data for presentation in the paper but the methodology and logic you employed. Much thanks for your time and effort.

Jared

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Re: What do I do with this?

#6 Unread post by Paul »

I am not finding an "FS-502" number for this RPM,........ I do find a 1953-D RPM-002


Images?
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Re: What do I do with this?

#7 Unread post by Earle42 »

@Jared - Kindred spirit! I am a former science teacher, and an avid researcher (just by nature - not profession!) myself. I spent 15 years researching and compiling a reference book in the glass insulator hobby and I am working on two more. So when it came time in my life to get back into coins seriously, researching the grading companies to understand them was a logical and natural course of action to me to see how they had evolved over time.

Can you post pics of your RPMs?
Fact Check the grading Companies:
Fact checking grading company shortcomings on NO FG halves:
https://tinyurl.com/yalrstjz or higher resolution version: https://tinyurl.com/y7rksxu8

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Re: What do I do with this?

#8 Unread post by jvineyard »

@Paul On VarietyVista it is 1953-D RPM-028. VarietyVista, PCGS, and NGC all have FS-502 on their listings. It is very strange my 5th Ed. of CPG does not list it even though all of those sources do.

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Re: What do I do with this?

#9 Unread post by jvineyard »

Hi, I will post some photos this afternoon. Thanks!

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Re: What do I do with this?

#10 Unread post by Paul »

1st off, it's important to understand what exactly is a RPM,…

Why do they occur?
How do they occur?
When do they occur?

Over time, you will see listings in books such as Cherrypickers, that no longer appear in the most recent additions.
Why?
After a great deal of research, they may be considered invalid, inconsequential, or have no significant interest.

Take a close look at your -028 designation,… Was that minor semicircular anomaly actually a light "Test Punch" on the die?

Over the years, I have found several of these myself, as the edge of Lincoln's coat would be an ideal place for testing die hardness,... & of course none of them are listed as RPM's or MPM's
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