32,00 pennies-Went to dealer-What he told me

I posted yesterday about having 32,000 pennies and where to start with them. I took your advice and went to a coin dealer and bought the redbook and loupe. I was telling him about the possibility of having a 1922 with no mintmark and he told me it might be worth $75.
I just got done looking at it with the loupe and without a doubt there is no mintmark. Before I was just using a 3x magnifying glass and I really couldn't tell if there was a mintmark. All in all he said 32,000 is a nice amount but he told me he buy's pennies by the sack's. Anyway what are your thought's about the 1922 penny?
I have checked Ebay the past couple of weeks and have seen them priced from $150 to $4000. One guy was selling one for $7500 but he did not have any bids. Thanks for the info!

 

Log in or Sign up to hide this ad.

Post pictures of it and we can help you grade it.

 

Hi,
First of all, welcome to coin talk :hail:

There are multiple die states for the 1922 no-d penny. The most desirable is referred to as a strong reverse. This was struck from a worn obverse die, and a fresh reverse die, which resulted in a mushy obverse, and a crisply detailed reverse.

If you would be kind enough to post a photo we could definitely help you out. I'm not sure what your level of coin knowledge is, and you may already know this, but whatever you do, do not clean your coin in any way.

If you have any questions please feel free to ask.:smile

 

If truely a no D with a strong reverse $75 bucks is a joke even in poor condition

 

Man, $75 sounds a little low IMO. But then like Zane said, there are multiple die states of that year, so to help you more we'll need you to post some pics if you can. Hope ya got a treasure! :thumb:

Phoenix

 

I'd also like to see pictures of this cent. Make sure that you display both the obverse and reverse of the coin to get an accurate grade and a determination of which die state you have. Please dont rip yourself off by selling to that dealer for $75 dollars. If you're really interested in selling it, wait until you have 10 posts here and advertise it in the "open" forum.

 

Die State?

How do you determine the die state? What should I look for? Thanks! Will try to get a picture up ASAP. Don't worry I won't be selling it. I'm just glad I found this forum to point me in the right direction.

 

Try to post very clear pictures of the cent and we'll help you determine the die state, which there are a few of. Like Zane said, the most desirable is the "strong reverse" die state. Depending on the grade, you could have a coin there worth at least $300.

 

Soon you will be a coin collector. You have a great start to begin with

 

How do you purchase pennies by the sack? Anyone know?

 

For the most part, you don't. (Well, I can sell you a sack of pennies, but there won't be much in it...)

deltadart's original thread

You might get lucky and find some old bags from estate sales or garage sales, but on the whole, there's really no place to buy sacks of pennies worth your time and money. (Well, besides those "unsearched" pounds of coins on eBay )

 

i bet that was pretty neat sorting through all those unsearched wheat cents! personally i would keep the 1922 no D becuase they are changing the design and the key dates are going to be worth lots. if you are going to sell it, i wouldn't take anything less than $450.

 

There is only one die STATE, there are three different VARIETIES, only one of which is actually accepted as the true 1922 no D cent.

 

Actually there are 4 die pairs (varieties) certified by someone. See http://www.lincolncentresource.com/1922Ddievarieties.html

Another reference is
http://www.stanford.edu/~clint/q/1922nod.htm

 

Die State - The condition of a die at a particular point in its life.

A pair of dies can be at various states throughout its life, until a new pair is used. Therefore there are various conditions or states (the two mean the same thing) of a die.

Variety - Any coin struck from a die pair that differs from others with the same date and mintmark, such as one exhibiting die doubling, differnt style letters or numerals, or a repunched mintmark.

There were actually four different die pairs used with the 1922-D Lincoln.

 

Yea, that is about the price of one that has no details but you can make out that it is a 1922 Plain (No D) Cent! In G-4 alone it should fetch close to or above $500.


Frank

 

Although he has not described it nor shown any pictures, my guess is that it is a weak reverse. A weak reverse 1922 no "D" can be had for about $100. If it were die pair #2, $500 would be reasonable.

I know to some people, the only "no D" is die pair #2, but to me if there is not a d, it is a "no D" - weak or strong reverse.

 

Try not to assume that the dealer was trying to "rip him off". If the coin is anything other than die pair #2 then it is a very accurate price.

 

Well....If I were offered $75 for a 1922 no D Lincoln I would consider it an insult. How do you know that the dealer knew what die pair he was looking at. Just cant assume we do now can we.

 

Also, consider if it were the Die 1 or Die 3, in cleaned, scrubbed, holed FA-2.