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Dealer Labeling Coins Incorrectly

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Hello There's Avatar
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 Posted 02/07/2016  4:49 pm Show Profile   Bookmark this topic Add Hello There to your friends list Get a Link to this Message Number of Subscribers
I went to a coin show today and bought some goodies including a worn "1864" copper-nickel Indian Head cent. When I got home I looked at the coin closer under light and saw that the date was not 1864 but 1868 and I got a good coin for less money

Has something like this ever happened to you?
Edited by Hello There
02/07/2016 6:39 pm
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Bertensgrad's Avatar
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1192 Posts
 Posted 02/07/2016  4:56 pm  Show Profile   Bookmark this reply Add Bertensgrad to your friends list Get a Link to this Reply
The closest I got to that was getting a 1945 micro s as a surprise since it wasn't label. Already had a 45 merc but this was cheap and a upgrade. Got it home and compared it to the other and realize it was a unlabeled micro. The good thing I didn't have a micro yet so it filled a hole rather then being a upgrade replacement.
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Buddy's Avatar
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 Posted 02/07/2016  5:40 pm  Show Profile   Bookmark this reply Add Buddy to your friends list Get a Link to this Reply
Yes, I bought a 1901 Barber dime with an O MM but it had been labeled P.
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nss-52's Avatar
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 Posted 02/07/2016  5:57 pm  Show Profile   Check nss-52's eBay Listings Bookmark this reply Add nss-52 to your friends list Get a Link to this Reply

Quote:
I went to a coin show today and bought some goodies including a worn "1964" copper-nickel Indian Head cent. When I got home I looked at the coin closer under light and saw that the date was not 1964 but 1968 and I got a good coin for less money


I hate to break this to you, , but they stopped making Indian Head cents in 1909.
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Hello There's Avatar
United States
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 Posted 02/07/2016  6:39 pm  Show Profile   Bookmark this reply Add Hello There to your friends list Get a Link to this Reply
Fat fingers for big mistakes
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BStrauss3's Avatar
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4591 Posts
 Posted 02/07/2016  8:24 pm  Show Profile   Bookmark this reply Add BStrauss3 to your friends list Get a Link to this Reply
Bought an 1851O 3cs marked as 1851 (NGC). The best part? I was talking with the dealer about another dealer who was asking moon money for a mismarked Franklin. And thst dealer has become a friend. And I've still NEVER told him I cherrypicked him...
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allranger's Avatar
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 Posted 02/07/2016  8:31 pm  Show Profile   Bookmark this reply Add allranger to your friends list Get a Link to this Reply
It happens to me quite often when I buy off the path Ancient and Medieval coins. I would have to say that about 1/3 of the coins I get are mislabeled. The ones I get at the LCS I tell them. They counter that it is some expert who attributes the coins for them. They haven't given me a name, but they say he is supposed to be rather well known. I am inclined to believe them because some of the coins I get at other places (ebay, other coin stores) also have his hand writing, like on an old flip or 2x2. So who knows, the guy probably goes though so many coins a day he is bound to get some wrong. Most of the time it has worked in my favor though. They don't seem to concerned though, on the the guys that works there told me I was one of the few customers with interest in those areas so it doesn't matter if they are priced according to the catalog or not, they just have to be priced so someone will buy them.
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OcalaFlorida's Avatar
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 Posted 02/07/2016  10:03 pm  Show Profile   Bookmark this reply Add OcalaFlorida to your friends list Get a Link to this Reply
yes all the time... love looking through 2x2 boxes at shows..
Edited by OcalaFlorida
02/07/2016 10:05 pm
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T-BOP's Avatar
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 Posted 02/08/2016  08:10 am  Show Profile   Bookmark this reply Add T-BOP to your friends list Get a Link to this Reply
Looking through a dealers Roosevelt dime box at a show, came across a 1954-P marked ch. bu. But had a high gloss to it . that dime turned out to be a proof. my conscience got the better of me so I gave it back to the dealer and told them that this is a proof not an unc. they thanked me up and down, and gave me a very good price on the coins that I bought from them.
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 Posted 02/08/2016  10:51 am  Show Profile   Bookmark this reply Add january1may to your friends list Get a Link to this Reply
This happens the other way around too, sadly.
Back in April 2011, I bought a (raw) FR-2 Peace dollar labelled 1921 (for what was at the time below melt, admittedly). Turned out to be 1923... well, 1923-S, technically, but FR-2 being what it is I didn't find out until a year later.
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BadThad's Avatar
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 Posted 02/08/2016  11:28 am  Show Profile   Bookmark this reply Add BadThad to your friends list Get a Link to this Reply
I've found mistakes at shows but I informed the sellers. I can't honestly bring myself to buy such mistakes. However, I will gladly cherrypick varieties they are ignorant of.
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Hello There's Avatar
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 Posted 02/08/2016  12:19 pm  Show Profile   Bookmark this reply Add Hello There to your friends list Get a Link to this Reply

Quote:
I can't honestly bring myself to buy such mistakes


Would you bring a coin mislabeled back to the dealer if you found out about the mistake at home?
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T-BOP's Avatar
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 Posted 02/08/2016  3:00 pm  Show Profile   Bookmark this reply Add T-BOP to your friends list Get a Link to this Reply
That's a loaded question !
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Mister Kairu's Avatar
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1911 Posts
 Posted 02/08/2016  3:25 pm  Show Profile   Bookmark this reply Add Mister Kairu to your friends list Get a Link to this Reply
I guess this isn't quite the same at all, but it sure is nice cherrypicking a worn 1895S Morgan dollar from the junk silver bin at my LCS. :D not labeled wrong but still was very nice getting it at spot.
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BadThad's Avatar
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 Posted 02/08/2016  3:44 pm  Show Profile   Bookmark this reply Add BadThad to your friends list Get a Link to this Reply

Quote:
Would you bring a coin mislabeled back to the dealer if you found out about the mistake at home?


I don't make buying mistakes.
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jbuck's Avatar
United States
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 Posted 02/08/2016  4:06 pm  Show Profile   Bookmark this reply Add jbuck to your friends list Get a Link to this Reply
I have to agree. "Buy the coin not the slab (holder)" applies especially to 2x2 holders. It was a mistake; have made some myself. We are not perfect. Just use this experience as a reminder to closely examine the coin next time.
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