"NumisMyths" - What are your favorite coin collecting myths?

[RWB]

The hobby and business of coin collecting is filled with interesting stories, tall tales and myths.

 

What are your favorites and which myths do you think are the most harmful or beneficial to coin collecting?

[123cents]

I like this myth stated by Scott A. Travers:

 

You can't get ripped off by buying a certified coin.

[bsshog40]

"It won't hurt the coin if you just wipe it real softly".

[WoodenJefferson]

One of the coin shows on TV used "The Manhattan Project" great silver melt to impress upon the masses that in the early 1940's millions of Morgan Silver Dollars were melted to support the development of the Atomic Bomb. Supposedly this action created a shortage in the number of Morgan dollars available to the collector.

 

I went ahead and e-mailed the two hosts, the producers and never get a reasonable response as to the facts behind this myth. I did a little research myself to find out the truths behind these allegations and was not surprized as what I dug up.

 

What I found out was posted here on the Forum…it was indeed a “great silver melt” but what was melted was silver bullion bars from the US Treasury Department and NOT Morgan Silver Dollars.

 

 

 

Manhatten Project

 

The silver was eventually returned to the US Treasury Department with no loss of bullion.

 

To me, rumors and myths portrayed to "hype" a certain mintage, does more harm to the hobby than just out-right lying.

[James_OldeTowne]

My all-time #1 numismatic myth is:

 

"Buy the best, most expensive coins you can afford"

 

It is quite possibly the worst advice ever spoken to a coin collector, other than "bright is best, clean your coins".

[MunkyMan95]

"Buy the coin, not the holder!"

 

 

"Lord, I apologize for that there. Be with the Pigmies down in New Guinea. Amen."

[rrantique]

It's a "widget didget"

[MunkyMan95]

A customer walks into a coin shop and starts looking around. He grabs a few supplies off of the shelves, and a few coins out of bins. He brings them up to the register:

 

Coin Dealer: "You gonna buy those?"

Customer: "Nope, I'm going to steal them. Just wanted to make sure you saw them first."

 

"Here's your sign"

[123cents]

Sounds like somebody been hanging with Larry the Cable Guy and Bill Engvall.

[MunkyMan95]

Sounds like somebody been hanging with Larry the Cable Guy and Bill Engvall.

 

I watched both the Blue Collar Comedy Tour Movie, and Larry The Cable Guy: Git-R-Done today. I'm full of 'em!

[DC Dawg]

How about "The Mint is going to recall ______." Fill in the blank.

Even alleged respected companies that base themselves in New Hampshire advertises in their pretty color catalog that the Mint is going to recall SBA dollars.

 

Go figure...

 

Scott

[Coin]

Not my favorite , more of my most tired of hearing :

1964-D Peace Dollars , of the over 300k minted that were supposed to be melted because of then new legislation, secreted out of the Denver mint by unscrupulous employees are out there somewhere.

 

Second least favorite:

....found in an old antique desk drawer....this coin has a sundial and looks very old ....says continentel currency and possibly silver...I am not a coin collector and do not know what this is worth , so starting bid is 99cent and no reserve.

 

 

Most disliked of all time :

UNSEARCHED wheat cent hoard ! Could there be a 1909-S VDB in there? You bet! We do not have the time to look for a $10,000 coin so we are selling in 1 pound lots for $XX.XX and care so much we are using a metal ice scooper to scoop them RANDOMLY into little sacks .....be sure to buy more than one bag from this "hoard" so you can see that you will get a random amount of the exact same dates and coins in every bag and they will all be "Average Circulated" (which means worn sooo bad that they will not even grade PO1 cull) .....you will be absolutely AMAZED at how each bag will contain the exact same coins ( give or take one or two) AND because it is random...we are going to throw in one of each of the following ABSOLUTELY FREE into each bag....a definite cull no date Buffalo, Either a Mercury silver dime or NOT ! , a 50 cent piece worth 50 CENTS! , PLUS ! WAIT ! There's MORE !!! The first 50 customers will each recieve a RANDOM MYSTERY Gift ! We don't even know what it is , but it will be in there somewhere along with the RANDOM UNSEARCHED ....blah blah blah.......PLUS read all the wonderful feedback and be sure to leave a positive of your very own , so that YOU won't look like someone that knows you got snowed ! Shipping is $24 due to the ENORMOUS weight , right to your front door! Hurry! Bid now!!

[astrostu]

"All coin grading 'companies' are created equal."

 

"I am not a coin collector, but it looks to me like this would grade MS-70. PCGS price guide says it's worth [insert enormous amount of money here], but I'm only starting it at 99¢ with no reserve!"

 

And I have to agree with the one above me about, "UNSEARCHED wheat cents!! ..."

[Dcoin]

"The US Mint is the best place to authenticate rare gold pieces."

[MunkyMan95]

[rrantique]

"The US Mint is the best place to authenticate rare gold pieces."

 

Yeah like the 33 saints

[Hoot]

My favorite myth is that John Reich designed the obverse of his capped bust pieces based on his "fat mistress." It's an old myth and pure fiction, but repeated still today.

 

Hoot

[James_OldeTowne]

Another favorite myth of mine is the whole "Josh Tatum" as the guy who passed off racketeer nickels. No contemporary evidence has ever been found of such a person existing.

[okbustchaser]

I always hated the "Because of public opinion against showing a bare breast the Standing Liberty quarter was changed." There is absolutely no reason to believe this.

[numismatica]

 

I agree with James and OKBustchaser on the two myths they posted.

 

There are a lot of stories, myths and tall tales. I don't know that any are either harmful or beneficial to coin collecting, but here are a couple to come to mind:

 

1) the story that the Washington's donated their own silverware to strike the first 1792 Half Dismes. There's no evidence to support this claim, although I believe Carl Herkowitz recently purchased a document tied to this issue and is doing research.

 

2) the "First Silver Dollar Ever Struck" story that got out a couple of years ago. I won't go into specifics, but a rare coin dealer on the West Coast got a 1794 certified as "specimen" and then articles and ads came out suggesting that it was the first silver dollar ever struck by the U.S. Mint. Hogwash!

 

3) There are at least (by my count) 10 different "theories" regarding "E" and "L" counterstamped bust quarters. Some of the theories are plausible, but none have conclusive evidence.

[WoodenJefferson]

1) the story that the Washington's donated their own silverware to strike the first 1792 Half Dismes. There's no evidence to support this claim, although I believe Carl Herkowitz recently purchased a document tied to this issue and is doing research.

 

Interesting...this came up in the **movie** I posted this past weekend, "The First American Coins"

 

I would be very interested in anything more you hear about this topic.

[rbrown4]

I am not sure if this actually belongs here but I am trying to find out the story behind this coin (restrike/reproduction). It is an 1861 Confederate States of America 1 cent. All my dad remembers is that this is not a genuine piece but that something regarding the die marks, etc. determine which restrike or reproduction it is. Would also like to know a little about the original genuine coin.

 

Thanks,

 

Rey

 

 

[rrantique]

Maybe this will help Rey

 

 

http://www.anacs.com/contentPages/ShowArticle.aspx?ID=4

[RWB]

Try this book, also:

 

http://www.lulu.com/content/364810

[michael]

a fresh coin that has just been offered to you from an old time collectors holdings is great and worth a premium

 

ie. it is usually cleaned and if a key 20th century date it is fake/overgraded/problematic

[just-john]

1 ===I just inherited all these old coins and am not a collector so i'm selling on ebay look very old

and my be worth $$$$$$

[TJ'S Coins]

The shinier the better!

[astrostu]

"I just inhereted all these coins and I don't want them. I put them through a rock tumbler to make them look prettier and am selling them cheap to you!"

[rbrown4]

Read the verbage from an auction on Ebay. I am not saying that this one is in any way misleading or a trick, perhaps it is just a type or poor wording, but read the first sentence. Again I am not saying this is a dishonest ad, just food for thought. See below the ad for my reasons on pointing this out.

 

THIS AUCTION IS FOR THE PICTURE 1981-S TYPE 2 SUSAN B ANTHONY DOLLAR. THIS RARE VARIETY OF THE PROOF DOLLAR HAS BEEN PULLED DIRCTLY FROM A US MINT PROOF SET AND HAS BEEN KEPT IN A PRIVATE COLLECTION FOR OVER 13 YEARS. THIS COIN HAS AN EXCELLENT STRIKE AND A DEEP-CAMEO FINISH...SURE TO MAKE AN EXCELLENT ADDITION TO YOUR COLECTION. AS A BONUS I AM INCLUDING THE TYPE ONE VARIETY OF THE 1981-S DOLLAR SO YOU CAN COMPARE THE VARIETIES. I AM INCLUDING THIS COIN FREE TO THE WINNING BIDDER. THE TYPE ONE COIN IS IN NICE SHAPE AND YOU CAN CLEARLY SEE THE DIFFERENCE BETWEEN THE MINTMARKS.

 

A few weeks back I was in a doctor's office and Judge Judy was on. (really, truly, I do not watch it normally). Anyways a girl was being charged with misrepresenting a cell phone for sale on ebay. She had worded her ad so that all it committed to was an auction for the "picture" of the phone. The ad went on and on about the stats of the phone, etc. But it was clear misrepresentation. She actually sent the winning bidder a picture of the phone.

 

Anyways my point is that with the ad above and anyone elses, careful wording and proof reading is essential so as not to confuse or give the wrong idea. The person above may have just left off ed from the word picture.

 

Rey

[bsshog40]

i remember someone posting that videoo link here on the boards some time ago Rey. Some people just can't be trusted. We all know this!!!