is this fair?
coin_hobbyist
Posts: 45 ✭
my wife and I just started the hobby of searching coin rolls and we just got our first $13 in rolls at the bank ( 2 rolls of pennies, 2 dimes, and 2 nickels ) ... ended up getting 3 pretty cool coins. a 1944 wheat penny, 1939 nickel and a 1936 wheat penny. We do not have proper equipment for high quality viewing but plan to get some. We were able to use a magnifying glass with a light to look at them/take photos. Our main focus and attention is on the 1936 wheat penny (will attach photos) It appears to have potential errors and we are seeing this year both with and without errors, circulated and ungraded, listed on ebay for hundreds and some over a thousand. We aren't sure if some or all of those may be overpriced or what the value actually is, so i wanted to find a forum to join. glad to be accepted as a new member this morning. Anyways, we started a 7 day auction starting at $1.99 with $3 shipping in hopes of actually making a sale. that seems very low compared to the other prices but thought that may help gain traction. We aren't sure if someone was to scoop in last second if it's worth actually letting go for $5. that is our concern. I'm also hesitant to put the link to our listing in discussion because we aren't sure if that's allowed. We just don't want to overprice it and not make a sale, and also don't want to underprice it for a potential loss. We are interested in selling it to reinvest back into the hobby and just wanted to get some feedback. Any thoughts, questions, & opinions are welcome. Thank you in advance.
Comments
https://www.ebay.com/itm/386626079291
this is our listing. we don't see anything saying we can't share it. if it's not allowed we hope a mod will remove our comment without removing the post and we will be sure to follow whatever the rule is. thank you
Welcome to the forum
No harm in putting a link to your listing, this gives us more information.
First of all, have you studied and do you know what an actual error is? There are many new collectors
who are of the opinion that minor anomolies and damage are errors. error- ref.com is a good site to study to see what an actual error is. Wexler is a good source for varieties
As far as your 1936 cent goes, I do not see anything that would be considered an error, all I see is a well worn coin. Please specify what you think is an error, the red arrows are not pointing to anything specific. As far as value goes, in that condition, it is probably worth 25-30 cents.
Not trying to discourage you but you should really study on how coins are minted, varieties and errors before starting to post coins for sale. A good start would be to purchase a Redbook and study it.
As far as eBay goes, go by the sold prices, not the asking price. There are many listings asking $1000,00 for a coin worth about 50 cents hoping that a buyer with no knowledge of coins will bite and buy it.
Welcome to the forum. The $13 that you've used to buy those rolls is certainly not lost, because you have all of it available to spend minus the one that you have listed for sale. So at the moment you're only risking 1 cent. If you're interested in error coins you may find it interesting and educational to search and read the abundant threads here that will educate you on the various mishaps that occur during the minting processes that result in an error coin being created. Have fun with your coins!
@jedm ...thank you for your response. that is the perspective we have as well beyond the coin potentially being worth more than 5 dollars. if it was worth closer to 50-100 by chance or even more, we wouldn't want to lose a potential bigger gain that we could put back into the hobby, and aren't really finding anything solid where it's it's own coin. we've been reading and gaining knowledge on the errors, double die, L in the rim, conditions and grading... and people seem to value them differently. so we were wanting feedback how others value a coin like this for those who want to participate. we were just wondering would people who saw this coin think $5 is fair or if they would sell one for that or pay for one for that if they were to be in the market for/with one. even though it's a gain either way and we're trying to learn more about them all the time. thanks for taking the time to respond.
@Greenstang ... thank you very much for your response. we will be sure to check those out and we suspected that to be the case in many instances (overpricing) ... that helps us feel better about it listing it at $5 to start and if they want to take a closer look or buy it we aren't against someone else making a gain off our listing if that was to happen or be a possibility, as long as deals are somewhat fair and balanced. the same way we wouldn't want to put an outrageous price or take advantage, we wouldn't want to be on the other side of that. the discussion has already helped us in multiple ways and been beneficial. thank you all
There are no errors on the coin. The coin is worth 3 cents.
Welcome to the forum.
Your 1936 cent doesn’t appear to have any errors and is worth less than $1.
A very large majority of coins listed as “errors” on sites like eBay and shown in YouTube videos aren’t errors, but rather, merely circulated and/or damaged examples. That also means that their asking prices or stated values have no basis in reality.
So many people think or claim that their normal coins are valuable errors, that an uninformed observer could easily get the idea that they’re incredibly common and easy to find.
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
Here is Variety Vista's page on 1936 DDO Lincoln Cents. Variety Vista is a great source for known variety coins. Good luck.
Jim
http://varietyvista.com/01a LC Doubled Dies Vol 1/DDO 1936.htm
When a man who is honestly mistaken hears the truth, he will either quit being mistaken or cease to be honest....Abraham Lincoln
Patriotism is supporting your country all the time, and your government when it deserves it.....Mark Twain
@Manifest_Destiny if you zoom in on the lettering there appears to be doubling at least of some kind at the bottom of the letters. we aware some doubling isn't the same or make the coin more valuable and respect that you could be partially or totally right. not to mention the L in the rim people claim and ours looks more in the rim than others we've seen. the comment felt a bit shallow but hey some people are straight forward with their opinion and we respect that. thanks for the feedback
Welcome to the forum.
As has been said, there is much confusion “out there” about what constitutes an error. Actual error coins left the mint that way. Nothing that happens to a coin after minting can be considered an error.
You have a long way to go before you should start listing any coins. eBay is clogged with listings of overpriced junk. If you are interested in errors then study up on errors. Don't just starting listing stuff you think may be errors. The coin in your listing is just a well worn common date 1936 Lincoln cent and has very little value.
You will find all sorts of insane pricing on ebay, due to sellers' greed or ignorance. The question really is, are you looking to take advantage of ignorant or uneducated people who might be willing to wildly overpay for a coin?
Your cent has a particular value, and it's a fraction of what you are charging even for just the postage.
It seems that you are hoping to strike it rich by searching a few rolls of coins. While a rarity could of course turn up anywhere, if you look at some of the threads here about roll searching you will quickly see that it is not a lucrative pursuit considering the time involved and volume of coins that must be searched (and then cashed in at the bank).
I have searched countless 10s of thousands of nickels and I did find one coin of note that is worth a few thousand dollars, but that was a billions to one shot. It was the find of many lifetimes.
I am all I'm favor of people getting started in coin collecting, but dealing in coins requires a lot of education and experience.
we understand what you're saying and respect it. thank you for the feedback everyone. we think it's okay to list as long as we have a clean conscience with our due diligence to the best of our ability. we don't expect to learn the entire history of every coin and its potential errors before we put any listings. we may come out good on some and not as good on others and definitely expect there to be a learning curve along the way though and mainly just enjoying getting into the space. this hobby has helped curb gambling. the anticipation and feeling when you find a cool coin. the savings and really just using a fun hobby replace a less healthy habit. we aren't really in it for the money although it would be AWESOME as y'all know to find a really rare and valuable coin.
Since you’re new you may not appreciate Marks expert advice.
Also if you post again consider using paragraphs, post some documentation, so forum members can give advice if that’s what you want.
Also take a brief look at my recent Lurking thread.
coin_hobbyist
Just read your posting and I am going to offer some constructive critisim on it.
First the correct terminology is Doubled DIe, not Double Die.
Also a Doubled Die is not an error, it is a Variety.
You have no Doubled Die on your lettering, that is what is called Machine Doubling,
a worthless type of doubling.
The L in Liberty that is close to the rim is normal. They were all this way until 1969
when new dies were made and it was moved further from the rim.
Suggest rewording your description or removing the listing as it is not worth yor asking price.
Again, not trying to discourage you, but if you are going to list coins, you have a lot more studying to do.
This does not come overnight, after 25 years of collecting, I still learn new things by reading other posts
on this and other forums.
constructive criticism welcome. we understand a certain level of ignorance comes with starting something somewhat new. we all know its up to each person to decide how they treat people that are new to anything. anything that could be perceived as discouraging is a little strange to us considering we try to be respectful. we don't hold it against anyone though. we try to respect it, take the good from it and understand we all have our own personality. we wouldn't even be making it into these kind of things had some of these critical points not seemed kind of shallow and discouraging. but who cares anyways right? i hope you all find a sick coin today. worth 1000's. it's one thing to be a coin expert who kind of keeps a watch on any bs in the community, but it's another thing to talk down to people in a degrading or careless way not knowing how they process things or will react or if they really do have good intentions and are still just a bit ignorant and excited about it. if thats whats even happening. we are overall thankful and pleased with the level of interaction and the time each one of you took.
Knowledge is king. I suggest buying a coin book or two about error coins and the minting process. Study them and you will be able to determine most error coins with confidence. You can find coins worth money, but without knowing the difference between a normal or damaged coin it becomes much more difficult.
Welcome to the forum and happy coin roll hunting.
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As far as normal coins that people think are valuable but are not, two of the most common mistakes I see are the L on the rim and the no mint mark coins. As has been previously mentioned, the L on the rim is normal for all cents through 1968.
As for the no mint mark coins, all Philadelphia cents bear no mint mark except for 2017. And lastly, most of the error/variety coins you'll find in rolls top out in value at a few bucks each. Really valuable finds are not impossible, but are few and far between.
Welcome to the forum.
Die deterioration creates doubling that is NOT considered an error. 99.99% of all doubling that people see is "machine doubling" or "die deterioration doubling". Your coin is not a "doubled die".
As the rims wear down, the letters will APPEAR to move closer and into the rim. That is what you are seeing. The "liberty" is on the hub. There is NO way for the L to be in a different position other than an off center strike or misaligned die. In that case, the image on the opposite side would be farther from the rim. Yours is not and all you are seeing is the effect of decades of wear on the coin.
I mean no disrespect by this, but the other poster who suggested you are not ready to sell coins is likely correct. While it might seem that there is no harm in listing something to see what happens and see what comments you get, you will be judged by your listings. If I saw that listing, I would be less likely to buy anything from you, even a real error or a collectible coin, because I would not trust you to have accurately identified the other coins.
Finally, the link is fine for informative purposes. However, in general, sales listings should only be listed on the Buy, Sell, Trade forum.
Keep studying. You'll get there. But please recognize that people who roll hunt do it for the fun of it. Few people find anything of sufficient value to make it worth the time invested. So, just have fun.
Welcome to the forum, I have been collecting Lincoln cents for close to 40 years now, I can say with complete confidence that the advice you have received in the previous replies is correct and true. Coin production quality is not constant, it runs from very high quality to low quality strikes as the dies used to strike coins wear through use. So coins struck from new fresh dies will have the best, most crisp strikes while coins from dies that have already struck several hundred thousand coins will show signs of die fatigue. Add 90 years of circulation to the mix and it stands to reason that folks new to coins have trouble understanding the intricacies and experience to separate these factors.
In 1936 the Philly mint produced over 300 million cents, that takes several sets of dies to produce. Each die will be very close to the next but will also have some uniqueness to it. Back then the mintmarks were hand punched into each die (Philly did not use mintmarks at that time) so coins produced in Denver and SanFran will have the mintmarks in slightly varying positions.
I have no clue where this idea that the "L" close to the rim or on the rim is unique or an error got its start, you tube or some clueless individual on social media I suppose. But it is complete garbage, never was an error or variety never will be. The L was always close to the rim and then you add in all the circulation wear it should be no surprise that many a well circulated coin might have some blending of the rim to any of the lettering and elements that are close to the rim.
There are actually several very nice doubled die varieties for 1936, 15 in total, only 3 of which are significant enough to command a price premium. You can find good photos and descriptions of how to identify a legit example at Variety Vista, here is a link to the page at VV for the 1936 Doubled die obverse. varietyvista.com/01a%20LC%20Doubled%20Dies%20Vol%201/DDO%201936.htm
To identify most of the lesser DDO's better photos or an in hand evaluation would be needed, but while fun to find, none of the lesser DDO's for 1936 have any real value or interest from collectors.
I do not say any of this to discourage you from searching and enjoying the hobby, with time and research you will be better prepared to understand what you see and why/how coins may look a certain way.
I will leave you with a photo of my mint state 1936 Lincoln, please take note of how close the "L" of Liberty is to the rim on this well struck example. Even in this high level of condition (graded as MS67 by NGC) my coin is worth at best $200 in today's market, as has already been said your circulated coin while worth more than the face value of one cent, is worth less than $1.
My Collection of Old Holders
Never a slave to one plastic brand will I ever be.
Sorry, not credible.
"Got a flaming heart, can't get my fill"
Welcome to the forum!
This is a great place to learn more about coins.
You have received correct responses about your coin. Some may seem harsh or discouraging but are not meant to be that way, they are just very direct. An old saying "Sometimes the best helping hand you can get is a good firm push." No one is trying to disrespect you and thank you for not being disrespectful. Sometimes the responses a new member/collector gets here on the main board can bee a little harsh or too direct. Take a look at the Q&A forum and read some of the post there. You may find you get a little softer responses on the Q&A forum but sometimes it takes a little longer to get a reply.
https://forums.collectors.com/categories/q-a-forum
@coin_hobbyist "this hobby has helped curb gambling. the anticipation and feeling when you find a cool coin. the savings and really just using a fun hobby replace a less healthy habit."
Don't get discouraged and coin collecting is a better hobby than gambling.
It doesn't necessarily pay any better.
Thank you all for real. We weren't expecting such a wealth of info in response to our post. Thought maybe 1 or 2 but can see how healthy this site seems to be with activity. Even with new people. I like the way it's set up. Super pleased. Will take the advice to more carefully form future posts with respect to what we've learned. can also appreciate a bit of wit and humor in a playful way lol No harm done. Thanks again. Each one of you.
Suggest until you are more educated in Numismatics, that if you have anything that you think you might want to sell or just knowledge in general, that you post a clear photo of both sides of the coin
on this site. There are always plenty of educated members that are willing to help. A good way to learn is to post a coin and say what you think about it and someone will tell you if you are correct.
Please only post one coin per thread to avoid confusion.
I went back to look for a mark, or marks advice but didn't find a mark.
My 2 cents worth in circulated coin finds:
If you can't see it with the naked eyes or a 10X loupe...it isn't worth your time.
YMMV but I personally should be doing something more productive.
Now in Lieu of gambling?
It's only a problem when your loosing.
Enjoy the hobby and welcome to the fourm.
Sometimes he goes by his alias: MFeld.
That comment may be the crux of your problem. "There appears to be" isn't a useful phrase. Either there is, or there isn't.
@coinbuf has already pointed you to varietyvista.com. if you find a variety that matches the pictures on that site EXACTLY, then you might have a little value. If it doesn't match EXACTLY, then not. You would be well off to remove the phrase "appears to be" from your vocabulary.
Coin Roll Hunting (CRH) is fun and you never know what you might find. If you want an inexpensive magnifier/scope, go to EBay and search DM4 microscope. I bought mine 5 years ago and really like it. Welcome to the forum, a lot of wonderful knowledge here.
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To see 1936 Lincoln cent Sold prices on ebay,
first search for
1936 Lincoln Cent
and then scroll down and click on the "[] Sold Items" check box near the bottom of the left column of the page.
You then get a list of coins that sold by date of sale:
https://www.ebay.com/sch/i.html?_from=R40&_nkw=1936+lincoln+cent&_sacat=0&rt=nc&LH_Sold=1&LH_Complete=1
In a quick scan through this list, I see 2 Sold results on the first page of results that are error coins.
The first is a Lamination Error for $4.20.
https://www.ebay.com/itm/375044234641
The second is a group of 4 coins for $20, including at least 2 Lamination errors.
https://www.ebay.com/itm/375165924064
High asking prices are often "wishful thinking" by people who do not know coins or the coin market.
For example, there is an 1936 Lincoln cent listed as a "No Mint Mark Error" for $350.
But 309.6 million of these were minted in Philadelphia; it's not likely to sell for $350.
https://www.ebay.com/itm/266587380817
I see multiple Buy It Now listings on ebay for about $10 delivered or less, for full rolls (50 coins) of 1936P cents.
So Coin_hobbyist since your doubled die in your mind was shot down do you plan on removing or changing the description on ebay if you have any ethical standards it should be removed or just sold for what a common cent of minimal value.
>
One thing to be aware of concerning the reference to coin collecting and gambling. For myself, I’m not into gambling, it’s just not my ‘cup of tea!’
But that doesn’t mean I don’t constantly watch myself when it comes to ‘impulse’ buying a coin! Sounds like you’re not into buying but if in the future you start, be well aware that there are risks and don’t go overboard. I highly doubt that I’m the only one on here that also approaches potential purchases ‘carefully.’😉
Have fun and welcome!
This is unduly harsh. Did you look at the listing? $1.99 stating bid for a "possible error" is not something I would question one's ethics over.
There’s Vaultbox, you know—doorstep to addiction.
You might want to get into metal detecting as well if you like the thrill of discovery. It's a hobby where the more you research good sites and work on learning your machine, the better the discoveries become. In coin collecting, I get that thrill cherry-picking rare die marriages, but that takes some study to get to that point. Heck, go fishing if you want to hook a thrill. Like anything, you'll get better at this with experience. Welcome to the hobby.
Welcome to the Forum! I'm not going to beat a dead horse... coin collecting is an amazing hobby and I hope you stick around and learn from the people on the Forum. There's a wealth of information here and most people offer constructive feedback based on decades of real world experience.
Couple of things... if you don't have them yet, you will need two books: Redbook of Coins and the ANA coin grading guide. You can probably pick up an older Redbook cheap. Have patience... it took me a long time to really learn how to grade, and I still have difficulties with certain series (like Buffalo Nickels) where strike greatly influences the grade.
As far as coin collecting and addiction... I think there was a recent thread musing over this very topic. For me, this is just a hobby... after all of my bills get paid, and my retirement, health care, savings, home repairs, etc... THEN, whatever expendable income is left I can spend on a coin.
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Welcome. This hobby is a lot of fun with a lot to learn. However, you have no business selling coins until you know what you are doing and what you are actually selling.
I am a newer collector (started April 2020), and I primarily focus on U.S. Half Cents and Type Coins. Early copper is my favorite.
I'll just say this, some people here have what I call " keyboard courage " in that they offer rather harsh criticism at the keyboard but would not treat you the same way face to face. At least I hope not as I've seen comments made here that face to face would lead to a physical altercation. Just keep this in mind when reading responses and know there is a wealth of knowledge and years of experience here which one can benefit from. The vast majority are here to share thoughts, advise and experience. I've been a collector for almost 60 years, but I've learned so much more as a member here for the last 5 years than the first 55 years. The very small minority of posters that can be rude, condecending. and sometimes downright arrogant........... I tend to ignore and for their sake and hope I never meet face to face. Please stick around, enjoy the hobby and welcome to the forum.
Knowledge is power
I remember searching through pocket change and rolls. It led to where I am , today. Turn around. Go back. It is a trap.
Two sides. I have a t-shirt my daughter gave me with a squid head guy saying the same thing. "It's a trap!"
I don't think we said what OP wanted to hear. He/they is/are gone.