Purchase of the 1958 BU Lincoln Cent Roll
During the 2018 VNA show, I was headed to an objective, and on my way, I walked around a few tables trying to locate a few Lincoln Cent rolls to fill my voids. I walked down a main aisle asking coin dealers as I headed to another objective.
One coin dealer answered up, “Hey I have a few rolls, and if you provide me a list, I’ll see what else I have available and bring them in for you to look at tomorrow”. I finished my quest and then told the coin dealer that I will provide them a list either by hand or email.
Well, the coin dealer brings down three rolls. A few re-wrapped rolls from the 1960’s era, and a 1958 roll in a plastic roll. The coin dealer says, “Look these over and let me know if you are interested in any of these”. The coin dealer then heads back to his table.
Opening the 1958 Lincoln Cent roll
I decide to uncap the 1958 and spread a few over the table. I immediately notice that this roll is far above the usual quality you find at shows in these days. This Lincoln Cent roll had promise for me to pull out a winner or two. – or more. I had my son run the other two rolls back to the dealer, and ask what he wanted for the 1958 roll. My son tells me he wants $3.00 for the roll. I immediately handed the son the cash and I started to sort the newly bought Lincoln Cent roll out.
ANACS always runs specials, so I decided to cherry pick 15 of the best to send into probably the strictest grading company there is and see what comes back. The only thing about ANACS specials is, that it can take what seems forever for your coins to come back.
They DO tell you up front that it is under one of the slowest grading programs they offer, and most of the times, this economy package will take close to a month or more. In working days, this is probably between 25 to 30 days. In ANACS’s defense, there are a LOT of people who take advantage of these specials, and its all about waiting, or coughing up more hard earned money and getting them back just a tad faster.
After I cherry picked about 20-25 1958 Lincoln Cents out of this roll and asked my son to assist in looking over the roll and cherry pick the best over all. I grab an ANACS submission form, fill in the details and hand them over to the ANACS representative, Geoff.
They are sent out during the show, which saves me shipping costs to ANACS. The ANACS special also has free return shipping, so I ended up sending (15) 1958 Lincoln Cents in and four error coins. The total cost was $139.00.
Awesome Grades I got back for the 1958 Lincoln Cents
The coins came back about 4 weeks later, and I was pleasantly surprised. Of the (15) 1958 Lincoln Cents I sent in, I ended up getting: (8) 1958 Lincoln Cents MS-66 Red (7) 1958 Lincoln Cents MS-67 Red Wait – what ? Seven 1958 Lincoln Cents in MS-67 ?
Lincoln Cents are some of my favorite coins, and I know that grades in the MS-67 range can get pricey. I decided to look up the price first: PCGS price guide for a 1958 Lincoln Cent MS-67 Red is $675.00 each. NGC price guide for a 1958 Lincoln Cent MS-67 Red is $645.00 each
The 1958 Lincoln Cent Population MS-67
The population report for the 1958 Lincoln Cent in MS67 Red is as follows:
ANACS – out of (700) 1958 Lincoln Cents graded as MS, only 27 graded as MS67 with only 1 better.
PCGS – out of (3522) 1958 Lincoln Cents graded as MS, only 44 graded as MS67 with none better.
NGC – out of (4160) 1958 Lincoln Cents graded as MS, only 159 graded as MS67 with only 1 better.
That is only (230) 1958 Lincoln Cents that has been graded MS67 over all these years. That’s less than 5 rolls of Lincoln Cents. The MS-66 value is close to $45.00 a piece, and the population numbers are a lot higher.
The Monty Haul of 1958 Lincoln Cents
I ended up with eight of these. So for an investment of $3.00 for the roll, plus 139.00 for the grading, I ended up with; (7) 1958 Lincoln Cents worth $645.00 each ($4515.00) (8) 1958 Lincoln Cents worth $45.00 each ($360.00) That’s a total value of $4875.00, if these 1958 Lincoln Cents sell near price guide value. That’s the type of investment I would like to make each and every day.