1943 Lincoln 1 cent 0

[Moneyy]

Guys same dealer who sold me the fake 10 cent Canadian gold coin 

has the Lincoln 1943 copper cent 

he’s asking $25k it’s in really rough shape 

is that a fear market value?

 

[JKK]

It is worth 1c. Plated copper, worn, corroded, beaten up. I get that you're Canadian and are not as familiar with our stuff (like many of us aren't that familiar with Canadian coinage), so the deal was that 1943 was when we made them from zinc-clad steel. Soon as the zinc cladding wore through, it was rusting time. I can't tell whether it was plated when newer or older, but the plating has worn through and told the story.

I don't see why you keep looking at this guy's stuff, especially when he wants the price of a new economy sedan for this. That right there should be a "nope nope never no more" for that dealer.

[Moneyy]

I don’t even have 25k to drop on a coin not that rich it was just nice to touch if it’s real..

 

I was selling this time not buying 

thanks for the reply 

[RWB]

1) It appears the "seller" is exceptionally ignorant and lacks the slightest accepted standards of ethical conduct.

2) Why are you talking to this person?

[Sandon]

   Authenticated specimens of the 1943 copper (bronze) cent list about $200,000 in Extremely Fine, the lowest listed grade. Don't you think the dealer would have submitted the coin to a grading service for authentication and grading if he suspected that it was genuine rather than offering if for $25,000?

   If you speak to this dealer again, although I don't know why you would, carry a magnet. A steel cent will stick to it.  (There are also purported 1943 bronze cents that are altered dates or are counterfeits.)

   

Edited January 7, 2023 by Sandon

[Moneyy]

That insufficiently_thoughtful_person admit it’s fake…

just amazed how some of you figured it’s fake that quick over a picture 🙌🏼🙌🏼

 

[JKK]

On 1/7/2023 at 3:00 PM, Moneyy said:

That insufficiently_thoughtful_person admit it’s fake…

just amazed how some of you figured it’s fake that quick over a picture 🙌🏼🙌🏼

 

Wasn't hard for anyone well versed in some steelie realities and deductive reasoning:

• Copper 1943 cents are very, very, very rare. Any time someone posts one, the assumption is that it's fake. That first must be proven false.
• Your guy has already shown he's looking for suckers, so at this point no one here would give him the slightest benefit of the doubt.
• As mentioned, it was never sent in for grading or slabbing--or if it was (there might be someone out there foolish enough), it got rejected.
• Since the zinc cladding wears through quickly on those, and we are very familiar with how unadulterated 1943s look, the plating wear-through is clear.
• It would be even stranger for a copper 1943 to be that corroded. It's had almost 80 years to float around and be discovered, if there were anything to discover.

[VKurtB]

On 1/7/2023 at 2:33 PM, RWB said:

1) It appears the "seller" is exceptionally ignorant and lacks the slightest accepted standards of ethical conduct.

2) Why are you talking to this person?

I wish I could “like” this post 1,000 times. 

[EagleRJO]

I am at a complete loss for words.  You buy a raw gold coin from a "dealer" which turns out to be fake.  Then you keep in touch with this "dealer", and are surprised that a raw $200k value coin if real (red flag right there) they are offering to sell for $25k turns out to also be a fake?  You just cant make this stuff up!

Edited January 8, 2023 by EagleRJO

[J P M]

On 1/7/2023 at 1:43 PM, Moneyy said:

is that a fear market value?

Fear is the key word here. I would not buy anything from that person.

[Moneyy]

After this second embarrassment on this chat board.. I’m officially done with him 

buying or selling!

from my excitement seeing this coin I forget about this simplest thing to to verify with a magnet.. when I called him back and told him it’s fake and it’ll stick to a magnet, he admit, it fake and he was just showing me not trying to sell it 

sorry again for wasting y’all time 

 

 

[RWB]

On 1/8/2023 at 12:10 PM, Moneyy said:

sorry again for wasting y’all time 

It is never a "waste of time" if you or others learned something beneficial from the experience here.

You've gained exposure to the slimy side of coin collecting. Now, how about looking for a nearby coin club or legitimate (aka: honest) coin sellers and begin with a fresh perspective? I think you will find members here very supportive, informative, and generous with their knowledge.

[JKK]

On 1/8/2023 at 9:10 AM, Moneyy said:

After this second embarrassment on this chat board.. I’m officially done with him 

buying or selling!

You're making progress. Now that you've seen how to do it wrong, it's time to do it right. Not sure where you live, but if you are in the part of Ontario where like half the population of Canada lives, it's time to look up local dealers. I would assume they should be RCNA members. RCNA grading standards differ a bit from ours in that yours are less subjective; also, your grading is a bit simpler because your obverses are (nearly?) always the reigning monarch and they don't do new portraits very often. If you're close to the border--and if you live in that part, it's kind of hard not to be--you could always check out some US shops. I am sure that the RCNA has a dealer member search function to help you locate dealers, but there are plenty of other ways to do that.

What you want to do is find a dealer you can build a relationship with. About half of them are autistic on some level and have the social skills of constipated badgers. About half overprice and overgrade their inventory, and there is a lot of overlap with the badgers. Find one (or two) who have respectable prices, aren't triggered by life, and will talk to you and help you gain knowledge. Buy at least something from all of them, even for C$5, just to establish yourself as not wasting time; don't ask for a discount (if you need a discount on a $5 coin, you can't afford this hobby). You really don't know how a dealer is until he recognizes you as a bona fide customer. Once you find the good ones, the golden rule is to always buy something whenever you go in. They need to get to know you as someone who doesn't have to be watched while the tray is on the counter. Build that relationship, keep going back. After a couple of times, or whenever you can see multiple coins you want and can afford, don't just blurt out that you want a discount. Rather, set aside the coins you've picked out, mentally total the prices, and ask him what your total would be (do not expect movement on bullion value stuff). If you get 10-20% off, that's pretty good. If you don't get a break (and best believe he has priced his coins so he can make out okay when giving you a little break), I would put one of the coins back and buy the others--all with a smile. This will help educate him that you at least understand the game and that when he digs in too much, it hurts his sales.

Keep this up, and eventually you will have dealers who welcome you in and give you good deals on coins whose authenticity they guarantee and whose grading is respectable. You will also get a lot of free education for your tuition (the purchases), on top of which you will gradually build out your collection.

[Sandon]

   In addition to finding reputable dealers, you need to learn as much as you can about the coins you want to collect.  "Buy the book before the coin", as the saying goes.  For Canadian coins the best overall guide would likely be a recent edition of the Charlton "Standard Catalog", which I believe is available from its publisher at www.charltonpress.com and from major booksellers.  For U.S. coins, see the following topic on print and online resources for new collectors:

 

[VKurtB]

On 1/7/2023 at 5:00 PM, Moneyy said:

That insufficiently_thoughtful_person admit it’s fake…

just amazed how some of you figured it’s fake that quick over a picture 🙌🏼🙌🏼

 

You just have to know what to look for. It takes experience.