1988 D reverse 89 (RDV-006) Rare Transition Coin

[Brad]

http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&item=280598658123&ssPageName=ADME:B:SS:US:1123

Being sold by a LCR member. I think the price is too high Gary, but I hope you get it.

[RWBILLER]

for 12k i will sell you two of them in nicer condition!
roger

[DoubleYou]

Wexler and Crawford list seven different 1988-D RDV-006 dies. Since there are seven dies, there must be more than the three coins Gary mentioned. And then, Roger mentions that he gots two. Then there are doubtless hundreds more out there waiting to be found. They just need someone with an RDV-006 eye to search them out.

[car10]

Then there are doubtless hundreds more out there waiting to be found. They just need someone with an RDV-006 eye to search them out.
I'm looking for one of those hundreds. Thanks for posting this auction.

[Cdiddle]

I'm looking for one of those also but apparently I've been having one eye closed and the others on break. LOL

[sensehunter]

My Dream Cent...88, or, 89, either will suffice...someday, if I'm lucky....don't you hate those "tweeners", with a tiny plating bubble RIGHT where the inner serif would be, and, ANOTHER where the lower serif would be...you get this micro-second sorta "rush" of "I got it", until reality sets in.....

[jcuve]

Sorry Gary, but I think a great deal of harm is being done to this particular variety with much of what has been written in the auction description and with that ridiculous asking price.

[mousey70]

Okay let's talk rarity in reference to the 1988 reverse 006 LMC.
6.083 billion 1988's minted in Philly.
5.253 billion minted in Denver.

I would believe there about 500 1988-P rev-006's in existence whether registered or in private collections of all grades. So: 500 divided by 6,083,000,000=0.0000822 percent. If thats not very very rare then nothing is.
For Denver: let's say 300 devided by 5,253,000,000=0.0000571 pecent.

Even if you triple the Philly and Denver numbers it's very,very rare.
Not being discovered for almost twenty years means that damage, loss, or ones being kept in collections of all types never to be found or noticed because of time gone by and lack of publicity or interest means that chance of finding one of these 1988 rev-006 LMC's is extremely, extremely small. I think the $ value should be fairly high. $12+ grand Might be cheap even next year.

[jcuve]

The logic seems to be influenced by a desire to make money as opposed to a genuine interest in the variety/error. I would have suggested consulting with a group of individuals who are both knowledgeable about errors and varieties before listing and creating a initial price to list the coin at.

Of course I have been wrong before and wish you luck with your auction...

[mustbebob]

Mousey, IMHO your numbers are way off concerning the number of possible RDV-006s. Where did you come up with only 500?
We can get a general idea of how many of each coin was struck a couple of ways. One way is the total number of coins minted divided by the total number of dies used. These numbers are usually available in the Annual Mint Report.
Normally, a business die can strike between 500,000 to 1 million coins. Of course there are exceptions, but this is a KNOWN number.
Another thing to consider is how many people are actually looking for these. We, as a collector base, are a very, very small percentage of those who deal with cents every day. Out of 325 Million people, how many would you think are actually looking for the RDV-006 on a 1988 coin?
Still another thing to consider is where the coins were released. Sometimes, higher concentrations of coins can be found in one area of the country. There may be a substantial hoard of these somewhere.
The U.S. Mint will not divulge any information about Mint Errors either, so to come up with an arbitrary number of 500 is not based on fact, or solid mathematics in this case.
I certainly don't want to burst your bubble here, but we really need to look at the big picture, and explore all the possibilities. Even my suggestions above are not all inclusive.
Even being an avid Lincoln cent collector for over 43 years, and being an attributer,
I think 12K is an over inflated price for these...especially in AU condition. I ask myself if I would rather have a 1955 Doubled die, or a 1988 RDV-006 for the same money, and I always come up with the 1955 DD.
National exposure on a grand scale would need to be done in order to make these sell for that high, and to maintain that level. I just don't see it happening

[eaxtellcoin]

My question is: if there hasn't been many found, why not start out with a $30.00 starting price. Attribution and Slabbing are covered,"$20.00" and something for your coin and time. " Wish I got paid for my time" and see where it goes? If there is a demand for the coin, then the bidder's will dictate the $ amount. Just an oppinion!

[mousey70]

Thanks Bob, yes I am/was using unestablished numbers. Just trying to show the possibillities this variety can present. If you want to include all the coin collectors even in the whole world doesn't your statement apply ton many U.S. Coins that are rare or very rare? Not always known are defininite die figures and mintage amounts known about these coins. I know this information will take time to be gathered and assimilated but I don't see it taking another ten years for the experts to come up with something.
Do you know of ANY info that the mint knew about this error variety back in 1988 or 1989?
Do they search, in house, to try and prevent as many errors from getting into circulation when they are dicovered? Common sense says 'yes' but have we heard of any searches when they were dicovered? They're pretty tight about that info I guess.

[Wayne]

There "should be" thousands of 1982 DDR coins....but there is not.

There "should be " thousands of 1958 DDO coins....but there is not.


No one knows,nor can predict how many RDV-006 P+D coins that were ACTUALLY made.

[DoubleYou]

There "should be" thousands of 1982 DDR coins....but there is not.

There "should be " thousands of 1958 DDO coins....but there is not.


No one knows,nor can predict how many RDV-006 P+D coins that were ACTUALLY made.

Both the dies you mention have certain things that make them bad comparison examples.

-The 1958 DDO Lincoln cents were likely passed down through a connection with the Mint and not through normal circumstances of circulation.

-The 1982 DDR Lincoln cent is new, and there most likely are many still out there waiting to be found.

The RDV-006 coins, however, have circumstances that help their current population seem low. First, the differences are subtle, and second, not many collectors are looking for them.

Maybe I should go get me a pile of pennies and start REALLY searching for these varieties.

See ya.

Wendell

[RWBILLER]

Bob:
I agree with you 100%! Yes the 88 "rdv-006" is a rare coin. But go to 100 coin dealers - none of them know about it - in fact most of them dont know what a WAM is or a 94ddr or a 97ddo, etc. My dealer doen't know about 1917/36/41ddo's!!

It is a basic thing of demaned and want - If i dont a a 1988 in my collection, Is it not complete? Gew, collectors are still debating the 1922 plain!

We have been lucky enough to find many 88's - both P and D. I keep a couple - but us varaiety collectors are only a little percentage of the entire collector base. Therfor we think a coin like a 88 "rdv-006" is worth thousands. Step into the real world - you will be disappointed.

When we found our first 88, we checked on LCR and someone had one for sale for $6000+. We thought we could sell it and get our 09svdb and 14d and a bunch more.
Ofcourse you know what happened.

This is my opion only. But before a coin is worth 12K - you need demand - none out there now. Oh yea, I remeber when you coild get a nice 55 ddo for $75 - in 10 years from now will the 88 be the same. I dont think so - my opion only.

Thanks
Roger

[Brad]

I agree. Price is a function of Demand, not Supply. Don't tell me how rare it is, tell me how many people willing to pay and how much they are willing to pay.

[RWBILLER]

brad
i couldn't say it better! If I remember you have a nice unc 1988-P!!
roger

[copperlover]

Many dealers do not carry most of the varities because they make more money on the sale of the higher value coins which are in demand. At this time the dealer I visited yesterday said that he only carries major DDO,DDR, no RPM,and was discussing the increases in silver. I was purchasing raw coins at 25c each in BU/AU grades. He allowed me to pick what I needed.

Lucien