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Replies: 26 / Views: 3,316 |
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Valued Member
United States
72 Posts |
Hey there, My local pawn shop just got an 09 s vdb Lincoln Penny in for sale. It's in G4 condition and I have handled it out of holder and viewed it with a 10x loup, its the real deal and its the last coin I need for the set! My question is, how much would you pay? They have $799 on it and I'm just biting my nails not to buy it. Zachary
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Bedrock of the Community
Canada
10743 Posts |
If that's the price and, it's the real deal, my advice...buy it quick. 
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Pillar of the Community
United States
2120 Posts |
I would say see if they are willing to guarantee it against a TPG. Get it in writing. They probably wont. I'd say make sure YOU know how to spot fakes, then you can buy with confidence.
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Valued Member
 United States
72 Posts |
There is no way that they will grade the coin, they might go down on price a little just to move the coin. I was there when the coin came into the shop and there is no way that it is fake
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Pillar of the Community
United States
3184 Posts |
No way as even there are fakes that can fool the most careful of collectors. Just buy a graded one.
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Bedrock of the Community
United States
10045 Posts |
Quote: I was there when the coin came into the shop and there is no way that it is fake This coin has been valuable for a long time, and consequently fakes can be in a collection for years. Authenticity is all about the details, and (much) less about the coin's history. Unless a pawn broker is very knowledgeable, they can be fooled too. There were only 4 obverse dies used on the 09-S VDB; the four mintmark positions are listed below. Fakes are often made by soldering on an "S" mintmark, sometimes using the wrong type of "S". As others noted, there are many fakes out there, and it's best to buy slabbed, unless the pawn broker offers a money-back guarantee. 
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Pillar of the Community
United States
1348 Posts |
Just give them an offer of $650. Then send it in. Give them the same sob story they do on Pawn Stars, "I'm goign to have to pay to have this picture matted and framed and blah blah blah." Did you hear how much they paid for it?
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Valued Member
 United States
72 Posts |
They paid $25 for two board books and a ziplock full of 40's and 50's...they didnt even look at them to see what was there, so they paid something like 12 cents for the coin
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Pillar of the Community
United States
1150 Posts |
In this case, I would proceed with extreme caution.
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Pillar of the Community
United States
1817 Posts |
I agree, $800 for a raw coin that's frequently counterfeited is a high risk transaction. Buy one that's been correctly graded by a reputable TPG and from a reputable dealer with a return policy. Pawnshops, even though they handle coins, are not coin dealers, and I wouldn't buy a raw rare coin from one at Greysheet bid.
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Valued Member
 United States
72 Posts |
Thanks for all the help everyone, I think I'm going to wait and buy a graded one when I have a little more money :)
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Pillar of the Community
United States
1304 Posts |
Quote: Thanks for all the help everyone, I think I'm going to wait and buy a graded one when I have a little more money :)
You have made a wise choice. No sense taking a chance with a coin that costs that much or one that is highly counterfeited. 
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Pillar of the Community
United States
809 Posts |
I dont think I would buy from a pawn shop. I would feel better buying from a coin shop.Just my opinion of course. 
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Pillar of the Community
United States
609 Posts |
I would be extremely cautious on this.
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Pillar of the Community
United States
3592 Posts |
Quote: I would feel better buying from a coin shop. I got a fake S-vdb from a coin shop,luckily I knew enough to return it right away.My suggestion is to educate yourself on the coins you collect,that is the best way....and you may even run into a deal...the one in my Dansco cost me $90.
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Pillar of the Community
United States
2661 Posts |
Quote: They paid $25 for two board books and a zip lock full of 40's and 50's...they didn't even look at them to see what was there, so they paid something like 12 cents for the coin
When I am in my favorite pawn shop and coin comes in am I might be remotely interested I offer 50% above what they just paid as soon as the seller leaves and 9 times out of 10 they hand them right over. I have made a few very nice buys this way but end up with a bunch of stuff I don't really want in the process. For example, I bought 33 rolls of wheat's a few months ago for $1.50 per roll. I was in there when the guy came in with them and was paid $1 per roll. I pulled 4 coins out of the rolls for my album and kept all the pre 40's as I have a ton of 40's and 50's already. I was left with 28 whole rolls that I consigned to a local auction house for a 10% sellers fee. My final take was $189.00 on the deal plus 4 filled holes and 4 coins short of five whole rolls of pre 1940 wheat's.
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Replies: 26 / Views: 3,316 |