Just recently figured out that I seriously overpaid for a '43 cent. Today I found out that it has been replated. I like to buy one AU, BU, or better example, within my budget, of coins I like to look for in circulation. Being a newb, I went to my LCS and bought what looked like very nice steel cent. It was labeled AU or BU. I don't remember which. Went to the Greater Atlanta monthly coin show and was told that the coins that I bought were probably re-plated. I learned from this site that the edge would tell. I checked, it's solid. No differing tones in the metal on said edge. I'm not an invester. I actually like the coins. I enjoy the coins I have. I like getting coins in original state, in as good a condition as I can afford. Should I be pissed that these '43's weren't labeled as re-plated, or re-processed? Should an LCS owner that's been in business for nearly 30 years know the diff between re-plated and original state? Should said coins be labeled "re-plated"? I'm ticked off enough about over paying for the coins to begin with, but now I've been told that they probably were re-plated. This makes it even worse.
A seller should know what he's selling and should be able to tell if it was re-plated . Hopefully you didn't pay much and you can chalk it up to a learning lesson that though a seller should know what he's selling a buyer should know what he's buying too .
If I remember the ana ethics code for dealers, it is considered unethical not to disclose problems. I am still pretty new to the hobby myself, one of the questions I like to ask dealers when I first make a purchase from them is what is their return policy, and if lets say in a year or so, past the return window, I wanted to take the collection in a different area what would they buy back the coin for? I like to hear that the return policy is like a week, with maybe a minimal restocking fee or store credit, and on the buyback question somewhere around 20% back of greysheet bid.
I consider it post mint damage as do most people here. $13 is pretty steep. I'd try taking them back and getting a refund.
I think it is pretty bad the dealer didn't disclose the replating information. Hopefully he/she just didn't know, which would also be pretty bad since they've been in the business for 30 years apparently. I think you have to be equally mad at yourself since you "didn't know jack" going into the transaction. Lucky it wasn't too costly a mistake. All you can do is learn from the mistake. Next time do a little research before you go to buy any coins.
Many, many 1943 cents have been re-plated... so much so, there's probably just as many plated examples as original. Unfortunately, your coin is worth one cent. You might get a few bucks if sold on eBay or the local flea market, but that would be perpetrating the myth.
Im sure if you just go back and explain the situation you'll be fine, $13 is is little to lose a customer. I don't think you will need a judge to get involved for something so miniscule.
Well, if you only bought one I would consider it pretty cheap tuition as there are plenty of ways to lose hundreds of dollars in this hobby. One thing that you should look for with these Steel Cents is the "cartwheel effect" ie: luster. Plated examples will always be shiny, like mirrors because the luster will have worn off during circulation resulting in a nice smooth surface. I think somewhere on cointalk there is a thread with photos of both original & plated surfaced coins....the difference is pretty noticeable side by side. It's pretty common for these to be platted, I have a few in my first set of Lincolns. It's good to own a few problem coins so you know what they look like in the future, sorry you had to take a price hit though!
it is not worth your time you will send more money trying to get him then the coin is worth !! Yes the dealer should have know but maybe he did not, just because you sell ad buy coins dosent mean you know a hoot about them also !! it is 13 dollars which even though it many be a lose it is not to much most people on hear have lost a lot more then that !! it is a common coin and if it is a raw unc coin i don't think many people would pay over 10 !! ms65-66 grade examples sell between 20-25 dollars ngc or pcgs !! so it is not a rare coin !! good luck with it but i highly recommend no law suit it will actually hurt you more and your wallet in the long run !
Once you've seen a replated steel cent, it is pretty obvious to spot all future replated steel cents. They are worth essentially one-cent each, but perhaps they are actually worth a tick more since folks still buy them.
Put in in your pocket whenever you are thinking about purchasing a coin without a good knowledge of grading or alterations, damage, tooling, artificial toning , etc. touch it to remember to do the homework before making a decision. It is too bad that half of the people who bid on eBay don't do this. Knowledge is the King in the valley of the ignorant.
Of course I'm not gonna get a judge involved, that's ridiculous, and I was venting. I kick myself for not doing my homework. I just figured that a guy in the industry with decades of experience would at least deceminate the info by label, or flat out tell me, or at least should know what he was selling me. This is my screw up though. Seems that brick and mortar LCS are few and far inbetween here in Atlanta.
You can't always trust the labels either, even from the TPG's. If you want a good anecdotal example, this is a good read: Mechanical Errors--Another Risk of Buying Sight Unseen That said, $13 does not constitute numismatic tuition. Maybe an application fee, but if you continue with the hobby, you are going to purchase much more expensive coins and make much bigger mistakes. The easiest way to prevent these mistakes is to spend your money in the beginning on books instead of coins and hang out around forums like this one a lot. Don't beat yourself up too much over this, just have a few beers and let it fade away.
I have noticed on the several replated 1943 cents I own that some of them turn a slightly blue or purple color. It's spotty and a dead giveaway.
We ain't having no barbeque up north here. We got two seasons; 4th of July and winter. It's unusual for the rim on refurbished steelies to match the rest of the coin. On mine most of the rims have a nick or spot where the new coating has scraped off. Out of about 20 redone coins maybe 2 of them could fool a new buyer. Eighteen of them have something irregular about them.
