To Slab or Not - 1909-S VDB

Personally, I like slabbed coins. It makes the coin more liquid and adds some "insurance" to the coin. However, there is nothing wrong with buying raw coins provided you do your research. Not just with the coin, but with the dealer. Know your sources, if you buy from a reputable dealer and you know the details of the coin...there is no reason to not buy a raw example. There is a dealer who posted in this thread who I would have absolutely no concern buying a raw key coin. You just have to do your homework.

As much as I like the TPGs, I don't think believe they should be used as a crutch to avoid knowledge.

 

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Yikes dude, a snubnose... up close and personal. *magically bends firing hammer* You'll thank me one day

 

Of course you are right, but hardly a week goes by that I don't see another fake S VDB that someone got ripped off for because they failed to do their research. There is no substitute for knowledge, and barring that, have a relationship with a dealer whom you trust.

 

I completely agree with you. These issues would be solved overnight if people decided to do their homework before plunking down $1000 on a coin.

My bigger issue is the TPGs are becoming a crutch in this hobby. IMHO, they bring a lot of good into it...but if they are allowed, they become a substitute for knowledge which is not a good thing.

 

So, I guess the answer for my OP is an overwhelming NO... I'll post my 1916-D Mercury Dime tomorrow, if I don't shoot anyone today.
Thanks guys....

 

Did you buy this coin for a dealer? If so, go back to him and explain the coin is fake.

 

I bought it from a widow selling her late husband's collection. I had called her already and we will work things out. She knows where they bought it from and she'll take it back.

 

Dallas, as others have said, you really need to know what you are doing with the "classic" keys especially. These would be 16d dime, 09sVDB, 14d, and 22 plain cent, 32d quarter, "3 leg" buffalo, etc. Those five coins have been in extreme demand and valuable for decades and decades, and as such have been forged for longer than I have been in the hobby, (which is quite a while now). It has been said that there were 264,000 16d dimes minted, yet over a million are in coin collections, so you do the math.

Short of having the knowledge base of some here on the specific coin, (and I don't), I would never dream of buying any of those coins listed above uncertified, and I personally hate slabs. I do not mind slabs for authentication, and would buy it in this case just for that reason.

 

And beyond medoraman's short list of 5 key dates above, there are lots of other traps for the unwary. All kinds of fake raw U.S. and foreign gold, fake American Silver Eagles, fake pandas in fake NGC slabs, fake PCGS slabs, too many bogus 1893-S silver dollars to count ... It's a jungle out there. Unless you study constantly to stay on top of the market, you need to stick with trustworthy, educated dealers who stand by their wares.

Best Regards,

George

 

Got it! I'm putting a pause on my Buy Button on the non-slabs for now. I'm in a state of shock. Got two major strikes already and afraid to post my 3rd one. Thanks always and AWESOME Pics man!! I mean, beyond awesome..

 

NO!

You have a lot more to learn.

 

I got it, I'm not even close to being close. I'm really glad I signed up, though. A few days ago, I was thinking about buying raw coins on eBay, sending them to be graded and make some hefty profit, oh how naive.... Gee, I wanna use a f word.

 

I agree that the coin is a fake, but I would say that the mint mark looks wrong. The S on a genuine S VDB is squared and boxy. The serifs on this coin are slanted.

 

Frustrating? Yeah, it can seem that way when you first realize how much there is to learn. But, on the plus side, we get.to study COINS, so that is fun, right?

It's all a learning curve, but don't be in a rush to get there. It's a hobby, so the journey is the best part. Yeah, you will get burned, we all have. Its part of hour education and hobby expense, but you will learn a lot and meet a lot of great people along the way, so it's worth it.

 

Sorry that this happened Dallas, but I'm happy to hear that the seller is willing to work it out. The others are right, there have been fakes of key dates since people realized that they're key dates.

I personally like raw coins over slabs, but am a longtime collector with a very reputable couple of dealers by my side. If I buy online, either I trust the dealer, or the coin is certified.

 

I'll be honest that coin woulda fooled me as it's a series and coin I know very little about. Now if you wanna talk trade dollars the most faked coin out there I'm game and tough to fool

 

The May 2014 of the Numismatist has a great article of fake 1909-S-VDB . There are 4 MMs that are on all real ones also the B in VDB should be angled not perfectly horizontal . Buy the book before the coin . Also the ANA is a great organization and worth it for the mag , the classes they offer , the books you can borrow and the insurance on your collection .

 

http://forums.collectors.com/messageview.cfm?catid=26&threadid=760980

 

Yes, it was naive, but you're not the first to come up with this idea, and surely not the last, so don't feel bad. Tis better to find out now than after you've spent even more good money, not only on coins, but blown submission fees too.

I know the one fella (in the other thread) thought the advice to learn first and buy later "boring", but it is sound, tried, and true.