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 Replies: 22 / Views: 2,971 |
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Moderator
 United States
188770 Posts |
Because the Philadelphia Mint did not produce a Lincoln Cent in 1922! But you hit on the controversy of the 1922-D Plain variety! We know it is an "error" because no Philadelphia Lincolns were made that year. But how many other times were mint marks missing, only to go undetected amongst the Philadelphia coins? |
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Pillar of the Community
United States
1767 Posts |
Thank you jbuck, mila_  |
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Pillar of the Community
United States
790 Posts |
I'm a little concerned with Nelrak's comment. How is it a moral issue to purchase the coin for a nickel? That is the price the dealer chose to set. If I buy a mixed-lot of coins off of ebay for a low price and it happens to contain a really good one, should I then send more money to the seller because they didn't know a good one was in there? As another example, I've heard of people purchasing slabbed coins that they view as conservatively graded, cracking them open, then resubmitting in the hopes of a higher grade. If I did this and turned a profit, should I share the profit with the dealer that sold me the coin because they didn't know? I buy a lot of individual foreign coins from one particular seller through the mail. He gets a lot of them wrong. Sometimes the coin I get is worse than the one I was supposed to get, sometimes better. Should I make a stink and return every incorrect one? No way, gambling is part of what makes the coin game fun. |
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Member
United States
3242 Posts |
Nice coins and the prices are really good!
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Bedrock of the Community
United States
12437 Posts |
How certain are you that the die markers match known 1922 plains? Are you sure it is not altered and that is possibly why it was in a junk bin for 5 cents?
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Pillar of the Community
United States
560 Posts |
Great find. I would check the die markers that biokemist mentions to make sure it's real/unaltered. I also don't think you did anything immoral by purchasing this coin from the dealer. He should know what's in his junk bin. Once a price is set, you aren't under any obligation to volunteer to pay more. If it were a little old lady who knew nothing about coins, I would feel differently about it. Congratulations!
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Pillar of the Community
United States
3234 Posts |
FYI, I posted a link to this story on the PCGS boards. Some of those members voiced some concern that this is a weak "D" and/or weak reverse which would be the much lower premium version of the coin.
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Moderator
United States
188770 Posts |
quote:
which would be the much lower premium version of the coin
But still worth more than $.05!  |
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Pillar of the Community
United States
3234 Posts |
Most definitely worth more than five cents!
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Pillar of the Community
United States
974 Posts |
quote:
I'm a little concerned with Nelrak's comment. How is it a moral issue to purchase the coin for a nickel? That is the price the dealer chose to set.
OK call me odd but I don't see cause for "concern" about my comment... I love a deal as much as the next person but this is a rare case. Being that the coins were Cherrypicked, I just feel that an accidental oversight for a cent like a $1000+ 22 Plain should have been brought to the dealer's attention, because you know it's not a nickel or a few dollar cent especailly since it sounds like there has been some great deals had in the past with someone dealt with for at least a year. So no need for concern, I would have just told the dealer of the oversight. Afterall you aren't finding it in pocket change, searching rolls, or winning an auction. I recently sold Vaslin lot of 1000+ wheat cents for around nickel a piece, that I did not search. He reported back to me he found a MS63 09 VDB, 1957-D EF-45 RPM #1, 1910 AU-55, and a 09-S which could possible be a VDB. Kudos to him, because that was a lot, not a cherrypick. Since I collect 09 VDBs and don't own an 09-S I would have loved to have gotten those but hey I was too lazy to look.  |
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Valued Member
 United States
64 Posts |
Hi First thing the dealer here knows what I found as I told him when I saw it. He buys bulk, the coins he puts in the junk bins or should I say Bulk bins. He purchases the coins in mass and just does not have the time to do a detail search. He does from time to time try to look though it but theres just to much and he gets many customers though out the day. There are 5 coin dealers with in a 20 min drive from here and he is the only one with what you will call un-search bins. I've know him and his family for over 5 years now, we are good Friends and alot of times he offers to buy what I find, when I find it. So if its in the bin and I or one of his customers find it, the price on the bin is the price of coin (even if its a 100 to 1000 dollar coin) By the way he looked at the coin and offer to buy it from me for 450.00! But I need it for my set, so I am keeping it. This dealer has been very good to me and being on disability I sell at the local swap meet as a part time dealer my self. I mostly restock my coins from his junk/bulk bins and he even discounts his already low prices just for me.(like if I buy 50 or more Indian cent I get them for 75 cents each and thats even with picking them out) He has even consign items (things that dont sell fast in the shop) from his shop with me to sell at the swap-meet. Anyway I am very happy with my find and no its not a weak D. :) Edited by dave2095
03/18/2008 11:39 pm
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Pillar of the Community
Canada
1152 Posts |
I think that if the coin dealer had coins in his junk bin for 5 cents, that is his loss if there's a 1922 no D that is hidden in there. He has those coins in his shop 24 and 7, and can go through them any time he wants. In this case, it was the difference between 5 cents and a couple hundred dollars.
Just my two (or should I say five?) cents
Edited by pattiewhack
03/19/2008 01:05 am
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Moderator
United States
188770 Posts |
Just pondering the possibilities here... but it appears that this dealer is already making some profit; buying in bulk and selling individually. Maybe he does not really need the money? Maybe his goal is to make people like Dave happy? Considering their friendship, maybe he is mentoring Dave?
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Valued Member
United States
66 Posts |
Is this dealer all there? The wheat cents I can understand finding a good one in the "junk" bin now and again but a 1928 dollar? Duh! what does he charge for coins not in the "junk" box. Blue book values or grey sheet values?
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Pillar of the Community
United States
974 Posts |
quote:
By the way he looked at the coin and offer to buy it from me for 450.00! But I need it for my set, so I am keeping it.
Answers my question, Kudos Dave!  Sounds like a great friend you have made there!  |
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Replies: 22 / Views: 2,971 |
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Posted 03/18/2008 11:37 am
