1909-s vdb "twelve fifty"
scotty1418
Posts: 286
I just came across this article about a show review of a recent Chantilly coin show. Towards the end you can see the guy's blunder when he tried to purchase a 09-s vdb. Does anyone who has spent a couple minutes in US coins think they go for $12.50?
Coin collector tries to pay $12.50 for a 09-s vdb
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The worst moment was my own doing. We were browsing one dealer's selection of slabbed coins, and I saw a 1909-S VDB Lincoln Cent graded at F-15. I asked the dealer what his price was for that coin, and he said "twelve-fifty". I proceeded to retrieve 12 dollars and 50 cents, when he interjected, "No, I mean twelve-hundred and fifty dollars" I began apologizing profusely, trying to get out of the awkward situation, as I definitely did not have that much money. My embarrassment continued when he said, "usually when someone is asking about a '09-S VDB, they have an understanding of the price range..." I continued my apologies, and we left his area as soon as possible. I should have known it was very expensive before asking, and I will definitely not make that mistake again. >>
Coin collector tries to pay $12.50 for a 09-s vdb
<< <i>
The worst moment was my own doing. We were browsing one dealer's selection of slabbed coins, and I saw a 1909-S VDB Lincoln Cent graded at F-15. I asked the dealer what his price was for that coin, and he said "twelve-fifty". I proceeded to retrieve 12 dollars and 50 cents, when he interjected, "No, I mean twelve-hundred and fifty dollars" I began apologizing profusely, trying to get out of the awkward situation, as I definitely did not have that much money. My embarrassment continued when he said, "usually when someone is asking about a '09-S VDB, they have an understanding of the price range..." I continued my apologies, and we left his area as soon as possible. I should have known it was very expensive before asking, and I will definitely not make that mistake again. >>
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Comments
Wow.......
Too bad the dealer couldn't find it in himself to be kinder about it...
Pretty easy mistake, if one doesn't know the series or is pretty new, especially since it is a coin they still see in circulation (ie....lincoln cents)
To me, the dealer likely sounded a bit rude if they really said it the way it wsa written....poor collector was already embarrassed enough without that type of comment.
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In the story he explains he understood it was a 'S'. Interestingly, if you click on his profile, he also writes a blog "Tales of a Lifelong Coin Collector" and is described as having collected Lincoln cents since he was a boy.
I'd hate to have to be in his position of recovering from that gaffe!
The second thing the story reminds me of is the opening scene in Lethal Weapon. The drug deal in the Christmas tree lot.
This situation has happened in the store a couple of times. A person will see a PCGS slabbed coin and the denomination of the coin inside on the label. A few people tried to buy $5 Gold Liberty coins for "five bucks". That's when I say "five dollars is merely the minimum downpayment" for "Layaway" on such coins. (smiling all the while, of course)
The dealer's response seemed gracious enough to the writer of the story, as well.
The writer needn't feel embarassed, nor need to apologize. It's an easy mistake to make when endeavoring into the hobby without "ALL" the foreknowledge of "key date" coins. Perhaps the Red Book could add a "glossary of terms" to it's well "read" book. An explanation of the terms would be a benefit to all in this hobby.
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If this guy is a lifelong collector as claimed, he should at least have known that an 09SVDB is rare... even if he doesn't collect cents. It's arguably one of the most famous key dates in US coinage.
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