Grading For Show Acquisition 1909 Lincoln

Please let us know what comes of this. If I was able to pick up that coin that cheap my first question would be: Why is this coin not slabbed?

If the seller "thought" it was a mattie, he "thought" it was a $2,000 coin. Something doesn't add up. It may have been dipped and re-toned or doctored so as to bodybag from any major TPG.

I guess the near perfection of this coin belies logic for a 100 year "raw" piece. I would daresay that from what we've seen and heard, this would be a Top Pop PR67BN worth $4,000 that someone sold for raw for $500?

Not trying to burst your bubble here but if it sounds too good to be true it almost always is.

And then again, it may just have been an old-time collector dealer with no use for PCGS or NGC or ANACS.

I still see lots of 'old-timers' out there who don't treat the coin market the same as a commodities market. They are there to share their love of coins with hobbyists, and to occasionally make a hard buck. Many have earned livings in other fields and used coin collecting as an enjoyment. These types of dealers can thrive through up and down economic times--

I was at the coin shop today and phone call came in. The shop owner (who has become a friend) says he gets two or three similar calls a day from people who were convinced to purchase common date slabbed MS gold at a huge premium to spot by certain national companies. They want to find out what these coins are worth today. They're not too happy when the coin shop owner tells them what they're going for in the real marketplace. The spot price of gold will have to get to $2000 before some of these people will see a 'profit.' These coin 'investors' had no idea what they were getting into. And some coin dealers do forget that their position is not as investment advisers or assistant crack-out artists. They are there to serve the legions of old ladies and kids who need a little help filling out their State Quarter album or don't know what a proof coin is. Many of the dealers I have met consider the slabbed coin market to be the dark underbelly although some keep feet in both worlds as metals brokers/coin dealers. Others (the ones I don't deal with) seem to forget that this is supposed to be a fun hobby. Now if that dealer who sold the possibly proof Lincoln made somebody happy by having owned a coin for a long time and broken even on it, I'll bet he looks like it as I would: Wow, I had that for that long and I didn't even have to pay rent.

I would have pulled my wallet out so fast there would have been a sonic boom. Let me know if you ever want to part with the MPL, I have been looking for a 1909. From looking at the rim I would call it a MPL. Other than that there are none of the diagnostics. Here are the diagnostics for a 09-

1. Die chip at 3 and 9 o'clock between wheat grains and rim
2. Die crack under Lincolns bust
3. Short die gouges above the L in Liberty
4. Die polish to the right of the nose


There are more, but the die chip are easy to see on a 09 MPL along with the die crack on the bust. Please do not take this post wrong, I am not trying to rain on your parade. I just got my 1910 MPL body bagged for damage? WTH is that? Anyways, my book is old, there is a new one coming out soon that has pics of all the MPL's.

I do not know if this is allowed, if it is not the please delete. Here are some pics of 09 MPL's to compare it to-

You know chris, your post reminded of one thing on these....the strong luster. Also, they are known to take on blue-purple tones. I don't see that luster on this coin, that's why I didn't think it was a proof. However, it could be the photo too because browns can hide luster.

Jim - How's the rotational luster? It should still be fairly strong under the brown, it's a proof!

I really thank all of you that are commenting on my behalf. I do appreciate them.
The coin weighs 3.18 grams which is within the 3.11 +/- 0.13 ( 2.98-3.24) expected.
It also measures 19mm diameter. I can see no indication at all that it is not a
real Lincoln , either MS or PF. There is luster like if you placed oil on a regular brown
Lincoln when it is tilted.

Of course, $500 is $500 ! For anyone. But I had a choice to buy it or not, I know who
he is and where to find him, but I won't do that. If I didn't want the risk, I should
have passed and just found a slabbed one. I felt the risk/reward was worth it.

[RANT]

I am in the older population, worked at a profession for a long period of time, and feel
that I am responsible/answerable for my actions and choices. If it is genuine, I will be happy
and celebrate, if not, I will be disappointed in my lack of education in this area and
improve it, but I strongly disagree with the "Bailout Mentality" that is prevalent in
todays society, that someone else is responsible for my errors. If I had bought it by
mail from photos I would have no problem returning it within the stated period, but to
buy it in hand, and still feel it was a good choice, I would not return it. Not getting
on anyone case, just stating my place in life
[ /RANT)

Truthfully, Thanks for the efforts many have made to help me with this, and I appreciate
candor on grading, thats very good, whether genuine, fake, MS of PF, AT, etc.

I will let you know when TPG-ed

Jim

I understand what you are saying, and I fully agree with you. However, I don't think the situation with the coin applies here. A good coin dealer is obligated to stand behind the coin...that it is genuinely what he said it is. And as long as he owned it, he's had plenty of opportunity to verify if it is the real deal.

I'm not saying the dealer did something shady. If it turns out to be an altered coin, in my opinion returning it to the dealer is not shirking your responsibility. It would be letting him out of his.

But I'm rooting for you! It is a beaut!

( someone please correct me if my view is out of line )