I did *not* bid on these 1931-S Lincolns... good decision or not?

http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&item=231125151328

Since it was listed as a "penny" and not a "cent", I thought that *maybe* it would get less attention. And since she was selling two (2) of these, and that wasn't immediately obvious to some people, I thought it might be a steal.

They ended up going for $112.50. Now I'm regretting it.

Thoughts?

My limited knowledge and research tells me that the nicer of the two coins would be worth at least that much by itself...

 

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Something is SERIOUSLY wrong with the last 1 in the second coin. There is no way that is authentic, and it does not look like damage. When associated with that second coin, I would be leery of the first one personally.

 

Totally agree with Chris, the second one is without question fake, there is no lincoln cent that has a serif on a 1. It could be an altered date or at out right fake.

The first one might be good, but still not worth $112 it that condition.

Mike

 

Nothing funnier than someone selling a coin by only showing one side. Good thing you didn't win. Both coins appear to have environmental issues and the second one is questionable authenticity (well, so the first one). There are a good number of fakes out there and rolling the dice on crappy pictures will probably turn out bad in the end.

At my local shows $100 will buy you a NICE 31-S, probably mint state.

 

Thanks. If I just want one that is readable ("Good" condition?), how much would I expect to pay at a show?

 

The thing with the 31s is there isn't a lot of spread between grades. Why spend 40+ on a good when you can spend around 70 for an EF+

 

Good advice then. Thanks.

A local dealer was selling an EF+ for $100. Now I know he was too high.

 

He was only too high if you failed to haggle or bargain with him. Slap $80 on the counter and see if he bites.

 

EF+ is more than ef so if its close to AU offer 85-90

 

stop buying raw off of ebay... its like throwing your money away,....

 

Here is a 1931-S that my Dad bought for me in 1964 when I was a teenager. It has been in this Capital Holder ever since.

 

I am not trying to be mean here, but a good decision would be to slow up or stop buying altogether and instead spend your time looking and learning. If you don't and keep aiming for $100+ coins, one day you'll almost certainly look back and wish you did.

 

I am thinking you made a good choice not buying these raw off of ebay. There is a good chance these were bought a couple years ago from a Chinese seller claiming there are only "to make your collection more perfect."

 

Take your time, save your beans and look for a nice example that you can see in hand. You should be able to find a very nice AU 31S for $100. Why buy a G4 coin when a much nicer coin is only about $15 more? Money well spent IMO.

 

Yeah, the 31 s is like the 09 s vdb. Both issues were heavily saved right after issuance, so much so that high grade examples are actually more common than worn ones. This makes pricing weird, with very little premium from grade to grade.

Compare this with the 14d that wasn't heavily saved. There grade makes a large difference in pricing.

 

Very Sound Advice!

 

Cool.

But...........and not trying to be mean, if that were my coin, I would free it from the holder and try to get a nice brown color on it as they way it looks in the photo, its was either dipped or scrubbed. That color just isn't right and as such, I think it's value is greatly decreased.

Now if the coin has been scrubbed, then, there's nothing that can be done.
If its just been dipped, then either some "careful" pocket time and/or general handling is needed. Perhaps, it can be saved.