1908-S Indian Head Cent prices

I am shopping for a 1908-S Indian head cent but am wondering how much should I pay. I have two I am watching and one I am bidding on but was outbid. How much should I pay for this coin?

 

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Depends on if you are trying to buy one slabbed or not. I'm not aware of counterfeiting for the date/mm, but I'm sure it's possible. Buying an unslabbed coin is probably not too risky, but familiarize yourself with the diagnostics so you don't get burned. Check the Gray Sheets locally if you can and estimate a fair, lower bid relative to it being slabbed or not. Good luck.

 

I am watching one slabbed coin and was bidding on and watching raw coins. I am looking to add it to my coin book so not slabbed is better.

 

All I can say is, shopping for a coin without educating yourself seems mighty foolish.
Do your homework BEFORE you look, and I think you will be happier with the results.

 

What do you mean? How do you educate yourself before every coin purchase?

 

I know what to do check out the completed listings on Ebay that will give me an idea what to pay. Looks like around $100.

 

How did you decide on a 1908 S without researching it first? Are you a beginning coin collector? Knowing what they have sold for in past eBay sales is one method. Checking any number of written references is another i.e. coin magazines usually have price guides, Redbook, the Greysheet if you have access to it, PCGS, NGC......

 

I have the Redbook and another coin book. I have the grey sheet but it is old. I got it for free. Greysheet you have to pay for. I use Numismedia. They are just guides and you never pay that much. I decided on the 1908-s because I need it for my coin book. I also need 1909-S and 1877 then I am done with my set. I just updated my Redbook. Mine is old the information is the same but the prices are old. i use PCGS photograde if I am unsure about grade.

 

I think @Millard answered your question. Good luck.

 

Sounds like a super collection. Congratulations. Of course you know by now that the 08-S is a better date. You are correct that most common dates will trade below Greysheet values. But when you start shopping the harder dates, they do tend to command values much more in line with Greysheet listed values as you found out with your losing bid. Keep in mind that the better date coins are more desired than the common dates.

 

Obviously you are not new to collecting and congrats on only needed three to complete the series. There are a number of times which you didn’t mention that should be considered. The date and mint marks, slabbed or raw, grade and condition. Any of the coins you mentioned are at a minimum of $100 or more. Unless you buy a low grade raw coin. Since you are down to the three rarest dates, I would suggest you go to your LCS to complete the set. It would be worth the time and the trip. And you can see the coin before buying. A picture is not the same as the coin.

 

When it comes to authenticity issues, I wouldn’t trust anything these days. It’s more fun for a crook to add an “S” to 1909 Indian or 1909-VDB, but a 1908 Indian Cent with an attached “S” might be easier to pass.

Fully manufactured fakes are not out of the realm. The Chinese did make a 1958 cent, which is like a thumb to eye. Why did they bother?

 

I am looking at a slabbed VF25 for 119 and a raw coin with full liberty and a couple diamonds for $110. This is below guide prices. I bid $70 for a VF raw but was outbid. The auction has 3 more days so I will wait to the last second and bid around $100. I have to find a coin shop to go to. The shop I used to go to was a precious metal shop so they just have lots of Indian heads andV nickels I resold on Ebay. There is a shop not far from me but I am not thrilled with them. They are expensive.

 

On any significant purchase, I go to the local coin shop and look up the going rate for items (and if they have what I'm looking for). They have the Greysheets there. No need to buy for a single purchase. I did this for both of my 1908 S purchases. I don't recall what I paid for either, only that I got the same value out of my first purchase when I upgraded the coin.

 

If it is any help, here are photos of a Mint State graded example. The 1908-S Indian Cent is a historic piece. It was the first cent that was made at a branch mint. This one is PCGS graded MS-65, R&B. I paid retail. The obverse is mostly red, and the reverse is mostly brown.

 

I used to sell on Ebay. Buy lots and break them up. I don't sell on Ebay anymore.

 

Very nice!!

 

@buddy16cat - I don't know if this helps as a reference, but I'm guessing that I probably paid around $200 for this.

 

I bought a RAW 1908 S IHC from ebay recently. It is in great shape and only cost me $147.50. Depending on your financial position, that could be an expensive purchase. I bought the 1909 S IHC, graded by NGC VF20 for $480. Another ebay purchase. To me, both purchases were within reason of the market prices. Maybe others have a better source as I live about 15 miles from the nearest town and there is no local coin shop close by.
The key is to do your research and be patient. I've been looking for the 1877 IHC for more than a year. With the price hovering sometimes between $2,000 and $3,000, if I spent that much on a "penny", my wife would kill me and then get off scott free.

 

I’ve spent that or more in a single purchase. My wife says “That’s fine dear. You know I’m spending them all at face value when you die.” Lol At least I know she’s joking as she’s not that stupid.