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

Here is one way, I don't know that it's the best but nontheless it's on way it can be done.

John

 

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Does the coin look "used"? If it has been used for purchases over the years than the features will become weak. Sometimes a weak mint mark, known in the 1922, will eventually wear off. It is important to ascertain the grade before making a determination on the NO D, and the value of the coin.

I'm sure the dealer would not have said it was worth $75 if he wasn't certain it was a NO D, but everyone makes mistakes.

 

Why not? The Coin Dealer had not even seen the coin and yet, he is quoting a value! Note the quote by deltaart at the start of this Thread, "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.". To me, this appears to be another Coin Dealer hoping that the coin is a 1922 Plain (No D) paired with Die #2 and looking to cash in on the unfortunate lack of knowledge of coins by someone who has coins. There is no reason to think that this Coin Dealer was not trying to "rip him off"!

In my experience with shady Coin Dealers is, that if you take a coin in for a value, stating that you want a value only and that the coin is not for sale and the Dealer quickly gives you a value or offers a price without looking at any books or the Grey Sheet, then turn around quickly and get out of the shop. This Coin Dealer knows that the coin is worth a lot more than he is quoting or offering, see's Dollar signs rolling in his' head and is looking to make a quick buck! All too often, I have had these same experiences with many Coin Dealers.


Frank

 

WOW, what a deal!:whistle: I can purchase around 705 "Copper" Lincoln Cents from the "National Collectors Mint, Inc." for $59.95. I think I will stick with the Bank where I can get 705 "Copper" Lincoln Cents for $7.05!:thumb:


Frank

 

Little more info on the 22 no D

I have looked and looked at the penny and there is no hint of a mintmark. I have compared other coins with the D mintmark and there is no trace of one. Can I be wrong? Heck yes! The dealer told me about the 3 die's. You must admit this get's very confusing.
As far as the condition of the coin I can tell you the date is somewhat worn but very easy to read. Also the back of the coin you can easily see the lines in the wheat. I was doing some reading up on the 22 and it says these are things you look for to determine it's value.
I'm not going to sell it. I'm just in the process at finding out what exactly I have here with all of these pennies. The one thing that I have been doing for the past couple of day's is trying to figure out just exactly how many wheat pennies there is. Just this afternoon I figured that I have around 18,000 wheat pennies. This is just a guess but I think i'm pretty close on that number. I'll try to get some pictures posted so you can take a look.

 

Please post some pictures. If you can see the wheat lines, it may well be die pair #2. I will also say that the 1922 plain is one of the more commonly counterfeited coins.

 

Is it me, or is $39 for a pound of wheat pennies a little...uhmmm... EXPENSIVE???????

 

I agree with the other poster above that says that Die #2 us the only one worth $500+ as the other 3 dies are the source of the "Weak D" and start at about $50 for a G4. I have found that 80% of "No D's" on ebay are actually "Weak D's" and are thus overvalued. There will be many ****ed off buyers when they try to sell their 1922 "No D".

The following site has this usefull info:
http://www.lincolncentresource.com/1922Ddievarieties.html

All 1922 weak D or No D coins fall into one of 7 categories:
1. Die Pair #1 Weak D (Weak Reverse)
2. Die Pair #1 No D (Weak Reverse)
3. Die Pair #2 No D (Strong Reverse) also called 1922 Plain
4. Die Pair #3 Weak D (Weak Reverse)
5. Die Pair #3 No D (Weak Reverse)
6. Die Pair #4 Weak D (Weak Reverse)
7. Die Pair #4 No D (Weak Reverse)


Below is an explanation of how to classify the four Die Pairs:

Die Pair #1:
• The easiest way to classify Die Pair #1 is the Jogging Die Crack running from L in Pluribus through O in One. However, this die crack is not always present. Also, be aware that there exists a 1922 D variety with a straight die crack in the same location.
• The second 2 in date is weaker than the first 2.
• The first T in Trust is more distinct than the other letters. Furthermore, the T, U, and T in TRUST are stronger than the R and S.
• WE is very mushy.
• Reverse is very weak, usually with no lines in the wheat ears.
• Mintmark ranges from Weak to No D.

Die Pair #2:
• Absolutely no trace of a D
• Second 2 in date is sharper than the first 2.
• All letters in TRUST are sharp.
• WE is only slightly mushy.
• L in LIBERTY butts up against the rim.
• Reverse is sharp with nice wheat lines.

Die pair #3:
• Second 2 in date is weaker than first 2.
• TRUST is weak but sharper than IN GOD WE.
• L in LIBERTY butts up against the rim.
• The reverse is slightly rotated counterclockwise
• Reverse is weak -- lower left part of O in ONE begins to spread into the field as the die deteriotates. Reverse looks "wavy"
• Mintmark ranges from Weak to No D.

Die Pair #4
"The front of Lincoln's coat from about 4 o'clock to 5 o'clock appears to merge into the rim whereas Dies 1-3 all have a
regular pronounced gap between the coat and rim. This merging is responsible for Die 4's nickname, "coattails." The reverse is noted for its weak high point detail, similar to Die 1 and Die 3." - Andrew Vickery ANACS Grader

 

Dumb Question

If it's a weak D how do you determine that? Can you actually see the outline of the D? I'm looking at it with a 10x loupe and don't see a thing. Can you miss not seeing the weak D?

 

I would have to answer that yes and no. By definition, the weak reverse is "no trace of the D, under 10X magnification". So, yes you can miss it with 3X magnification. The strong reverse has no "D" at all.

I have a 1922 where the "D" is only visable with 10X at the right angle. I am not positive which it really is.