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<p>[QUOTE=&quot;jaceravone, post: 540100, member: 9474&quot;]Cherrypicking is a term used in numismatics to describe the event of knowingly seeking and purchasing a numismatic item from a dealer or seller for a value much less than what should be attributed to the item.&nbsp; The item may be a variety or error that is unattributed and would otherwise sell for a premium if discovered.&nbsp; Not all varieties or errors command higher prices.&nbsp; Those that do not command higher prices would probably, by most accounts, not be considered cherrypicking, but rather a lucky find.&nbsp;&nbsp; Those coins that do command higher prices usually bring the most excitement.&nbsp; A quick example of cherrypicking would be to find an 1964 proof accented hair Kennedy half dollar and purchase it for the price of a regular 1964 proof.&nbsp; Using the 2008 Redbook as a quick reference, the difference between the two is a $9 coin vs. a $30 coin.&nbsp; Cherrypicking does not necessarily have to do with finding a variety or error.&nbsp; It could be as simple as buying a Lincoln cent binder with an 09 S VDB in the wrong spot unbeknown to the seller, but a terrific find for you (I know someone who this has happened to) or digging through a box of common date IHC and finding an 09S, but purchasing it as an 09 (I also know someone who this has happened to). </p><p>&nbsp;</p><p>Cherrypicking is a practice that has long been in numismatics or any other hobby for that matter.&nbsp; Not everyone agrees with this practice, but many collectors believe the quote, &quot;To the Victor, goes the Spoils.&quot;&nbsp; I guess Cherrypicking can go both ways.&nbsp; There are many ethical issues that arise when this happens.&nbsp; There are those that believe that individuals who have a greater understanding of numismatics should have an ethical courtesy to disclose to those who do not, when a error or variety is found.&nbsp; Early in my numismatic learnings, I bet I have been cherrypicked a few times by dealers and other collectors alike.&nbsp; Others believe that it is not their fault that a person is not educated about a coin or item and should not have to disclose their find to the seller.&nbsp; It is the seller&#039;s responsibility to know what he/she has.&nbsp; I am not here to defend either one, but simply to mention both sides of the coin (excuse the pun). <img src="styles/default/xenforo/clear.png" class="mceSmilieSprite mceSmilie2" alt=";)" unselectable="on" unselectable="on" /></p><p>&nbsp;</p><p>Now on to my story..... these past two days I have been working with a buddy of mine at our local coin show.&nbsp; What a great weekend.&nbsp; Business was brisk and steady.&nbsp; There were about 20-25 dealers set up with a great variety of stuff.&nbsp; On Saturday, I did not have much time to look around but caught up with an old friend/dealer who sat next to us.&nbsp; He was trying to get out of coin collecting all together and had some terrific coins for some great prices.&nbsp; I really got to work on completing my UNC Washington quarter set.&nbsp; Last night I was reading an article in numismatic news about the Adams mule medal that was found.&nbsp; A mule is a coin or medal that is minted with the obverse of one coin and the reverse of another.&nbsp; This could be done on purpose or without knowledge.&nbsp; The Adams mule has the obverse of the 2007 Abagail Adams medal and the reverse of the 2008 Louisa Adams medal.&nbsp; Although I don&#039;t collect these, I always find these types of errors interesting.&nbsp;&nbsp; Whenever I read about an error or variety that is found, I always keep an eye out for them when I am at a show.&nbsp; Today (Sunday), started off very slow (probably due to church) and I got to look around a bit.&nbsp; There are a few dealers who I will visit every year because either I know them and have dealt with them before or they are highly regarded in the business.&nbsp; So this morning I set out with more Washington quarters in mind and visited a dealer who is very well known and highly respected in the area.&nbsp; I have known him for a few years and later found out that he was the cousin of the guy I was working with.&nbsp; At a glance, I see a display case that had a bunch of First Spouse medals in it and decided to mosey on over and see if I could find the mule.&nbsp; So I am looking around and no sooner than I could catch my breath, but there is was.... The Adams mule!!! What was even more incredible was that there were two of them!!!!! So I nonchalantly purchased both along with a third (to look non-suspecting) and ran back to my table.&nbsp; Terribly excited that I had just cherrypicked the newly discovered mule, I was revealing in my glory.&nbsp; Then guilt started to set in.&nbsp; If there is one thing that I am known for, it is my brutal honesty.&nbsp;&nbsp; I&#039;m the type of guy who finds a cherrypick, then brings it to the dealer&#039;s attention to let them know what they have.&nbsp; Then they usually mark it up a ton and try to sell it to me..... that is usually how it goes.&nbsp; So there I am, feeling guilty and the guy next to me asks me what&#039;s up?&nbsp; So I tell him my story and he is so excited for me.&nbsp; He told me not to worry and that this dealer would be happy for me too since he has been in the business for a long time and likes to see stuff like that.&nbsp; Then he asks to see the medals because he never heard of this mule.&nbsp; It was at this moment that I realized when I got them out that I had completely mistaken the two medals that I bought for the mules!!!! I couldn&#039;t believe it.&nbsp; Now my delight turns to disgust as I realized that I just threw $14 out the window.&nbsp; Here I was thinking that $14, although expensive for the normal medals, was an absolute steal for the mules.&nbsp; In the end, I just chuckled and chalked it up to experience.&nbsp; This is not the first time this has happened to me, and I am sure it won&#039;t be the last.</p><p>&nbsp;</p><p>There is no moral to the story, but rather a lesson to be learned..... when a potential cherrypick is found... take a deep breath and really look over the coin to make sure what you have is the item in question.&nbsp; I think it is ok to be proud of yourself.&nbsp; Cherrypicking is a culmination of all your studying about a particular item or coin.&nbsp; It is the end result of a lot of time and hard work and really getting to know your stuff.&nbsp; Call me crazy, but cherrypicking a dealer is part of the game.&nbsp; I think dealers know this.&nbsp; The guy I worked for admits that there is no possible way for him to know every little thing about every coin.&nbsp; He actually welcomes the thought of someone finding a &quot;cherry&quot;.&nbsp;&nbsp; But I also believe that cherrypicking an unknowing person (a customer) is bad ethics and should not be condoned.&nbsp; It is our responsibility to inform and educate those who are less educated and bring a bit of ethics to the hobby.&nbsp; Joe[/QUOTE]</p><p><br /></p>

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