'09S VDB advice please

I would like some advice on buying a 1909S VDB Lincoln Cent and what better place than here on CT. I first learned about the '09S VDB in 6th grade that was in 1973 when my JR High Principle told us about it and how rare it was and that is worth millions of dollars. Well that's how I remember it, but I'm sure he wasn't that far out in left field. I just remember for months everybody was looking at their pennies (I know they are cents but we were in 6th grade). Well eventually after no results the search ended but my desire to own one hasn't. I just never wanted to part with money. Now with hind sight being 20/20 I know I should have just like like my teacher advised. Well I've decided now over 40 years later to go ahead and buy one. I've only seen them in person once and that was in 1985 when I would visit with an elderly gentleman that ran a glass shop in the town I was living in who collected coins. He had received one in the mail from a catalog coin dealer (pre internet) and his shop was next to the bank. He asked if I wanted to go to the bank with him to put it in the safe deposit box and I gladly went along. Upon arriving everyone in the bank greeted him by name and we went into the room that had the safe deposit boxes. He said these are mine and pointed to an entire row of boxes that was the length of the wall. Needless to say I was very impressed, but nearly as impressed as was when he started opening the boxes to reveal his collection that had spanned nearly 70 years. The first box he opened he pulled out a Dansco album that had contain nothing but 1909S VDB cents. These were any grade from good to BU and I think it was 6 pages full. He said he bought one every few months. He also albums full of Morgans, Double Eagles, every box had 3 to 4 albums and each album unless it was a set contained one type of coin. He had several Lincoln Cent set in Gem Bu these I remember because he was ordering another set and I did too 1934-1985 with proofs for $150. Not much today but for a 24 year old with a new baby that was a lot. Any way back to my post. I am going to take the plunge in a month or two and buy one. I would like some feedback and advise from members about how to proceed. First I live in a rural area and there is no LCS within 40 miles I've been once but he was very cold and not too helpful. I purchase most 99% of my coins on eBay, but have never even considered buying anything that rare. I have studied up on the '09S VDB and feel I could make a good choice on a raw coin if I had it in hand. I just don't feel comfortable about buying one raw on eBay. Not that I think I would get a counterfeit, but I have a hard time telling if one has been cleaned. I may be limited to buying a graded piece but I don't want a details coin. I would also like to buy one that is at least Fine and not spend over $600. Am I being realistic or is that just wishful thinking? I would buy from someone on here as well since there are several members that I feel are reputable enough to spend that kind of money with. What are your suggestions as to how I should proceed and if you have a recommendation of a dealer or member that might deal in Lincoln cents I would like to know. I also hope the Mods don't kick this to the want list forum as I asking for advice on purchasing something down the road not immediately and I need replies something you can't do on that forum. I hope you didn't find this boring I just wanted to give some background as to why I wanted one.
Thanks Kent

 

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First off - DO NOT EVEN THINK OF BUYING A RAW COIN!!!!!!!!!!!!!!!
That coin has been counterfeited way too much.

As for your $600, you could likely get a fine. Anything higher would probably only be details which you should not buy.

I might well suggest joining Heritage. It is free. It gives you lots of pricing and other info. And it is a likely place for you to buy your coin.

 

Like you I always wanted one since I was 6 years old (now 67). In 2001, I bought one from a dealer that advertised in Coin World & Coinage magazine. It was raw, but advertised as Unc. for $769. At that time I had not studied & researched slabbed coins. In Dec 2013, I decided to submit it along with about 10 other of my coins to NGC for grading. Too my disappointment it came back XF Details Cleaned. But it is mine and a part of my years of coin collecting learning experiences. Do your research and choose wisely.




NGC>> Cert Lookup >> http://www.ngccoin.com/certlookup/index.aspx?CertNumber=2619630-003

 

Honestly, I would consider saving up for a bit and buying an uncirculated example before I would buy a fine at $600. You get much more bang for your buck. A NGC MS63 RB (a lot of red) sold for about $1200 recently, and the coin would be more liquid when it comes to sell. Be very picky as there are plenty of coins to choose from and you can find one at literally any coin show. Stick with PCGS and NGC.

 

Buying off Ebay...slabbed by one of the reputable TPG's is a must or you're just looking for trouble.

 

Here is mine. Pcgs ms65rb bought off ebay

 

"Not that I think I would get a counterfeit, but I have a hard time telling if one has been cleaned."

I'd say chances are virtually 100% it would be a "counterfeit" with the S added, or perhaps a Chinese fake.

A coin dealer told me this story years ago, a few years before grading companies came about, that he was fooled by a stranger who came into his shop, the stranger offered a 1909 S VDB to sell, the dealer examined the S very carefully and determined it was genuine, and paid the stranger around a wholesale amount. Turns out the VDB was added to the back. Yes, they took a genuine 1909 S, a nice key coin in itself, and they had so much confidence in fooling somebody, that they risked possibly ruining that coin, to "upgrade" it to a 1909 S VDB. Fooled that dealer according to his story. Frankly, he had a small coin shop and perhaps not much experience with that coin, but the story illustrates how careful you have to be out there. And buy it only from a reputable dealer, I've read where the Chinese can fake both the coin and the slab. A graded "too good to be true" price on Ebay or elsewhere from a seller without a good coin dealer reputation, will likely be just that.

 

100% sage advice! STAY AWAY FROM A RAW PIECE!

 

If I were you I would save up my money and buy a mint state brown certified coin. They trade around $1100. They are just so common in vg-f.

 

If I were you, and this was a coin I was wanting most of my life... I'd save up the extra money and buy a MS coin. It's going to be a once in a lifetime purchase, make it a once in a lifetime purchase. I have a few coins on my bucket list and the '09-S VDB is certainly one of them. I will wait until I can afford "THE" coin I want.

I've always wanted a Ferrari. I will never buy a used one. If and when I do get to buy one, it will be brand spanking new off the lot. If you buy the MS '09-S VDB, you won't be wishing you had the higher grade. You'll be a proud owner..

 

Paragraphs are our friends

 

That's a beauty.

 

I appreciate the advice and maybe I want rush. I've never been to a coin show as I work most weekends but I think I will take off and go check some in hand. I know I will definitely buy a graded piece and might even hold off for a higher grade, but if I do it will be a brown as I love the browns.

 

How about ICG or ANACS?

 

Some say there are some descent ICG coins out there. Personally, I have not seen them. If you are planning on selling or upgrading in the future, you are probably better off not getting ANACS. If you are just planning to keep this one, ANACS (not the blue slab) should work fine, but I will bet eventually you will want to upgrade.

 

It is a "common" coin insofar as there are regularly coins for sale, so there's no need to pull the trigger right away. Take your time, look at a lot of certified, problem free examples and establish pricing through auction results. When you find the right coin, you'll know, you'll enjoy your purchase, and you'll have a coin that's easily sold in the future.

 

I just sold an ANACS VF20 for around $700.00 within the last year. It was a decent example that had some slight wood-graining effect on the reverse.

Follow the advice on this thread. Buy a slabbed example from a reputable TPG, I would include ANACS or ICG on that list.

Most of all; take your time and find an example you like at a price you can afford.

Here's a pic of the one I sold in October.

 

I did a similar thing, only the Wheatie was a 1931-S....It sounds like we bought from the same dealer...

 

The 1909-S VDB Lincoln cent is a common coin, so you should exercise patience. Also, in your position I cannot stress enough to buy one certified by PCGS or NGC and to buy one in a straight grade (problem-free) holder. This coin might evoke great memories for you, but in the coin community it is hardly exotic. Good luck.

 

FYI - No biggie, but Descent, Decent, Dissent are three words pronounced the same and easy to mix up.

Descent means the act of moving downward, either physically or socially.

Decent means "socially acceptable." It's also an old fashioned way to say "polite." Decent can also mean good but not excellent.

Dissent is to pipe up against popular opinion.