NGC Grades Mistakenly Released Reverse Proof Cent

[dena]

The coin was not supposed to be available to the public until mid-April. Click Here to Read More

[Coinbuf]

Interesting but why note on the label that this coin was a mistakenly released coin?

[Revenant]

15 hours ago, Coinbuf said:

Interesting but why note on the label that this coin was a mistakenly released coin?

I'm sure the person / company that got it wanted it. It's bragging rights. It's pedigree. That coin is now "THAT" infamous penny. Every time that coin comes up for sale now from now until doomsday it will be "that one," the one that the mint let out early... even though, absent that pedigree on the label, now that it's separated from the rest of the set, it's no different from all the others.

[Coinbuf]

I sort of get that @Revenant, but is anyone really going to place a premium on this one over all the others?  As you mentioned once the rest are released in a few weeks this is just one of the many thousands out in the marketplace and is not really different or special in any real tangible way.  I know that I would not pay anything more for it over another but maybe there are some collectors that would find this special enough to pay a premium, I am very often surprised what some find special lol.

[Revenant]

1 minute ago, Coinbuf said:

I sort of get that @Revenant, but is anyone really going to place a premium on this one over all the others?  As you mentioned once the rest are released in a few weeks this is just one of the many thousands out in the marketplace and is not really different or special in any real tangible way.  I know that I would not pay anything more for it over another but maybe there are some collectors that would find this special enough to pay a premium, I am very often surprised what some find special lol.

I agree with you 100%. I wouldn't pay a premium for this one over any of the others once they come out either. But... you only need about 1-3 people out there that are willing to pay a (big?) premium for it in order to make a market and an inflated value - even if it's short-lived and hype driven. There's a lot of people and a lot of collectors out there and I'm sure that's what the person that got this graded and labeled is banking on. I could be wrong - maybe they'll want to keep it - but I'm guessing they're going to look to flip this fast while the hype is fresh.

[Mohawk]

There are people that will pay a lot of money for the correct label.  But there is going to be a very short window to turn a big profit on this.  I think that once the reverse proof W cents are out there in large numbers, the hype on this will fade and fade fast.  This one is for someone with more money than sense.

[grip]

Coinbuf got it.

[numisport]

Haven't you heard the new saying "buy the plastic not the coin" ?

[MAULEMALL]

Could end up as a different coin than the one being released...

A new cheerios Sac dollar ...

[derryb]

On 4/5/2019 at 7:49 PM, Coinbuf said:

Interesting but why note on the label that this coin was a mistakenly released coin?

because "Early, Early, Early, Early, Early, Early, Early, Early, Early Release" would not fit on the label.