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Longstrider's Blog

22 Oct 2022

AN ERROR TO REMEMBER

Coins-United States | Longstrider

So since it is another slow Saturday I thought I would give everyone a fun lesson. First off I am well aware of the chance I took. I just never thought it would happen on this coin. A few weeks ago I was browsing Heritage.com just to see what the market is doing. A fun thing I do. This particular auction was all error coins. I like to get a few from time to time. Nothing like Haney but I have fun. If I didn’t already have my Peace Dollar VAMs, MPC, Mexican Type, and POW chits I would likely hit it harder.

So I see this humble little 1933-D Lincoln cent with a Struck through Reverse. Nothing to knock my socks off but I do like struck through coins. I dropped my maximum bid on it just to let them know I’m still around.. One dollar US money. I promptly forgot all about it. A few weeks later my wife tells me I won an auction. What? I have no bids. Oh yes you do. I couldn’t believe it. No one else in the world out bid one dollar. It is a nice struck through.

Here comes the funny part. I go online to settle up with Heritage. My one dollar bid with vig, “buyers premium”, is now $30.00! They have a $29 minimum vig. I know that. Next is Service and Handling for $8.37. Let’s not forget sales tax, $2.95. I had a total bill of $41.35 on my $1….

I just thought everyone could use a little laugh on my account. The last time I did something like this I ended up with two 1909-S VDB cents. Yep two. Good thing they were mid grade but still an eye opener. Be aware of what can happen. It most likely will. If you think I learned my lesson you are sadly wrong. Just ask my wife.

Thanks for looking. Feel free to blast me I mean leave comments.

Sources:

Ha.com

PCGS.com

Comments

Haney

Level 4

That was a nice coin for a $1 bid, of course after the fees it is a bit more which now I take into account when making a bid at Heritage as it amount to practically 33% all said and done. Still I agree there are some bargains to be had with some being two coin lots that tend to get missed. Only plus for me is I live in a state where coins and bullion are not taxed, unfortunately notes are still :-(

only $1!

I. R. Bama

Level 5

I was surprised at how low that coin graded, looks better than a VG to me.

Mike

Level 7

I tried factoring in the buyers fee but once your in for an ounce your in for the pound. In other words you want the coin your in a few bucks more than you like and you bid to win .

Mike

Level 7

There is an auction house that does not charge buyers fee of any sort and there on Davissons. They have ancients to modern coins to Conder tokens. All sorts of coins and its going g on now. I suggest you check it out. Family run. Great coins error coins. I have won many a good coin there.Just put in Davidson's Auction Ltd. That will bring you to the site

Golfer

Level 5

Nice old error coin. Fees and charges seem high these days. A local auction house charges 20 percent buyers fee. Then a fee for the person that owns the items? A 20 percent buyers fee almost guarantees someones items won't sell at a high or fair price?

coinsbygary

Level 5

This is a laugher! FYI, I never bid higher than market value, and I factor the buyer's fee into my final bid. My guess is that a lot of other buyers do the same. In other words, the seller pays the bulk of the fees.

TCHTrove

Level 4

Still a great coin!

Long Beard

Level 5

Still not all that bad in the end. You don't see these every day, especially for the date/mint mark.

Mike

Level 7

I stopped with the big auction houses. They even have a sellers fee. To me they take and take. I'm glad you got the coin you wanted. But you learned what I learned years ago. If your bid was to go lets say to 100.00 the buyers fee is much much more. If you want to win a coin be prepared to pay. Pay big. I believe these places would pick your pocket if they could reach. I'm happy you got your coin. But you got of easy!! Yes you did. I'm happy for you. I just look . And laugh. When I see the buyers fee! Congratulations. My friend. Good for you

AC coin$

Level 6

Congrats for a veteran like yourself, John. Nice acquisition regardless. You got it. That's what matters. Happy for you and your coins. Nice to know what you got. Blessings AC... Consider that I am your strongest admirer since you gave me your sincere support ever since I started here. We are made by our deeds. Never give up.

Kepi

Level 6

Yup.... Just ask me... haha This is a cool error coin! Great blog and photos Longstrider! ; )

Long Beard

Level 5

Why did I already know the answer to that statement? Ask my wife. He's a funny guy.

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