[Tip] First time coin buying

[admrose]

It really angers me when sellers try to trick people into buying common cents with descriptors such as "RARE!", "SCARCE!", etc. I see 1909 VDB auctions like this all the time despite the fact that, even in UNC condition, it is one of the more common mintages in the series. The only Wheat cents that should be considered

Extremely Rare:
1909-S VDB
1922 Plain (Strong Reverse)

Very Rare:
1931-S
1914-D
1909-S

Rare:
1924-D
1911-S
1914-S
1912-S
1931-D
1926-S

*my advice is to ONLY buy the above if they are slabbed by a reputable third party grader

Please note this is based on mintage and doesn't take into account grade (for example, a 1914-D in UNC may be rarer than a 1909-S VDB in AG). This is only my opinion but hopefully may prove helpful for a first time buyer of Wheat cents on eBay, as the sellers there would prefer you be uninformed. Also, be sure to checks prices before you buy. Even a rudimentary price guide is better than nothing as it will at least show you if a price for a cent is way off base (for example, a cheap price guide app says $27.00 for a MS-63 1909 VDB and yet the seller is asking for $50.00). Price guides ROUTINELY over state prices so you can know with confidence that the seller is asking too much. Expanding on that point, unless a coin is slabbed by a reputable third party grader (PCGS, NGC, ANACS), don't take the seller's word for the grade! Look at the pictures and grade for yourself. Whenever I sell on eBay I always put the grade I think the coin is with a disclaimer that I am not a professional grader and that the buyer should judge for themselves. Finally, if the pictures aren't clear enough to make out the details then move on. This is a common ploy to hide imperfections.

All that being said, most sellers on eBay are not out to swindle you. Most try their best but they may be misinformed and at the very least they're only human. The ultimate deciding factor is ultimately you, the buyer, and your experiences on ebay will be a result of how well informed and patient you are; if you jump into what looks like a good deal and a sure
thing without doing your homework you will eventually get burned.

Happy bidding!

[amosamos16]

Actually, none of the lincoln cents are even close to being rare at all. They are all very easy to locate in about all grades. The only coin I'd say can be a little hard to find is the 14 d in ms 63 and higher, and 26s in 64 and higher.

[jallengomez]

And thus we see the dilemma of using subjective words such as "rare" or "scarce."

[admrose]

I meant more along the lines of mintages; an S VDB is rare compared to '44.

[jallengomez]

And a 1909 VDB is rare compared to a 1957-D. I understand what you are saying, but the use of the word "rare" must always entail a comparison-"compared to what?" And even then, it's still a subjective assessment.

[liveandievarieties]

But again, rare is a subjective term- The 23-S in Gem Full Red is much more rare than the 09-SVDB. There are half a dozen branch mint dates I'd rather have in MS65RD before an 09-SVDB.

This is really where the responsibility of the buyer lies, to educate themselves. If one purchased coins solely based on the representations of the seller, well, you might as well go buy a used car while blindfolded. Each person has their won interpretation of value which is subject to their preferences. Whether selling or buying, you can do extremely well on eBay simply by knowing your product.

[admrose]

And thus we see the dilemma of using subjective words such as "rare" or "scarce."

This Is true, but these terms changed since the Internet came to be. Nothing is really "rare" or "scarce" anymore.

[seal006]

I think you are splitting hairs too much here. A seller can use words or phrases to enhance the appeal of their wares. It is called "advertising." Words like rare or scarce are not deceptive. It is rare for me to find San Fran minted cents while roll searching in Texas. Those words are relative terms, not deceptive. Words can go a long way in selling or not selling an item. I learned as antique dealer to never use the word "cheap" when referencing my prices. That word implies quality to many folks rather than pricing, especially in the antiques market. So I learned to use "inexpensive" or "bargain". Those are descriptive words as well as relative.

[admrose]

Perhaps the one that riles me the most (and is not subjective) is the blatant overuse of the phrase "key date"

[liveandievarieties]

Perhaps it's partly the consumer's responsibility to educate themselves on what they're buying.

Every month I get thing returned to me by buyers- things like 1972 DDO #3, 7 or 8 that people buy at auction and then want to return because "it's not the RARE one"... it IS the responsibility of the person handing over the money to know what they're buying. If you're educated on your purchase, you won't need someone else's endorsement of the item.

My best purchases are the coins listed as a "minor RPM" or doubled die... it attracts little attention, slabs as a high grade and I make a pile of money! Muhahaha...

Knowledge is King, once you have it, other's opinions are inconsequential.

[seal006]

... it IS the responsibility of the person handing over the money to know what they're buying. If you're educated on your purchase, you won't need someone else's endorsement of the item.

Knowledge is King, once you have it, other's opinions are inconsequential.

This is LIFE in a nut shell. How can anyone go off and buy anything of value without having at least some knowledge? The more ya know the less you will pay. LCR is built on a strong foundation of education. The founders of this forum and all of us "regular" users believe in it. When you get to the point where you can trust yourself, you will then be at the point where you can start to make purchases that will indeed enhance your collection.

[jallengomez]

Buy the coin, not the holder. Buy the coin, not the description. Buy the coin, not the...Wait. What was I bidding on again?

http://www.ebay.com/itm/2006-MS70-PCGS-NOT-NGC-Chinese-Silver-Panda-Coin-limited-extreme-low-pop-/140909255915?pt=US_World_Coins&hash=item20ced89ceb

These things can't be iterated enough.

[simonm]

My question is, do you get the girl too if you buy the coin?

[seal006]

Buy the coin, not the holder. Buy the coin, not the description. Buy the coin, not the...Wait. What was I bidding on again?

http://www.ebay.com/itm/2006-MS70-PCGS-NOT-NGC-Chinese-Silver-Panda-Coin-limited-extreme-low-pop-/140909255915?pt=US_World_Coins&hash=item20ced89ceb

These things can't be iterated enough.

LOL. I love it. I actually thought of doing this to attract more customers. Thankfully my wife was there to remind me that I do not look that good in a bikini.

[jallengomez]

Simon-At the least I would think hand delivered.

Sean-Yeah, if I did that, it would be the equivalent of calling something "cheap."