Am I Missing Anything?

[natsb88]

A coworker received this in change and thinks it may be valuable, but I'm not seeing anything. Am I missing something?

1959D-ob.jpg (342.33 KiB) Viewed 2301 times

1959D-re.jpg (407.6 KiB) Viewed 2301 times

[coindood]

Looks like a typical 59-D.

[ScrapMetal]

Did your co-worker indicate why they thought it may be valuable?

[Recyclersteve]

I don’t see anything unusual about the coin pictured above. I hope your friend isn’t excited because of the small letters “of” on the reverse where it says “United States of America.”

[natsb88]

Did your co-worker indicate why they thought it may be valuable?

He Googled it and saw expensive listings for high grade coins . I said I didn't see anything special about his coin and that the condition of the coin makes all the difference, but said I would post some photos to double check with the experts.

[Recyclersteve]

I have a wild guess what he might have seen. Often enough, when looking at eBay listings, I see someone who takes a regular coin worth face value and tries to pass it off as something extremely rare. Also, they will often put a price on the listing somewhere in the area of, say, $10k to $100k. The coin could have some tiny error (some very minor doubling on a single letter, etc.), but if it isn't listed in the Redbook, they can pass it off as some "undiscovered error" worth lots of money.

Another trick they might use is to quote a price of $10k to $100k and then allow potential bidders to make alternate offers. Let's say that you are a total amateur who doesn't know anything about coins, but has lots of money that was made from other areas (perhaps real estate and/or the stock market). You see a listing that says $100k, but allows people to make offers. You offer $10k, figuring that the seller will never in a million years accept it. Immediately the seller accepts your offer. The seller knows the coin is only worth face value and just wants to wait until after the return period expires (if there is one) before they smile and boast about their victory.

Someone might argue that the seller faces the possibility of getting bad feedback. He might, but there are plenty of people out there who would gladly accept a transaction with bad feedback in exchange for $10k.

I would tell your friend not just to look for listings but actual sales. And, because there could be a sucker every now and then who pays way too much, ask them to look for at least two different sold transactions for the coin in question.

[Market Harmony]

You're missing the time that was wasted in exploring this more... it's a 59-D to me with no upside

[hobo finds]

Look at 3 1958's over 20 K https://www.etsy.com/listing/719212147/ ... xwQAvD_BwE

[Tourney64]

Wow, looking for a sucker on that listing.

[Recyclersteve]

THREE 1958's for the price of JUST ONE! I'm all over it. And he says he only has one set in stock. Geez- this must be my lucky day!

By the way I have a rare animal turd that looks just like a tiny log for sale. $10,000 or best offer. You will want to brag to your friends about this one. Sincere offers only, please.

[NDFarmer]

If 3 common circulated 1958 wheat pennies are worth $20,850.00 that means the bag of 58's that I have is worth almost $35,000,000.00

Here I am a multi millionaire and didn't even know it!!!

[Recyclersteve]

If 3 common circulated 1958 wheat pennies are worth $20,850.00 that means the bag of 58's that I have is worth almost $35,000,000.00

Here I am a multi millionaire and didn't even know it!!!

You are indeed the award winning farmer- out standing in his field! (pun intended)