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I bought a book with a few Standing Liberty quarters, one was in the hole for the 1927-S, marked 396 thousand. So I thought just maybe I got a rare one.

I put it on the scanner, and then compared it to a scan of the 1930-S from the same book:

1930-S:

.....
1927-S:


I really do not see any trace of an S on the 1927.

Here is the 1927 quarter at 600 dpi:

......

Here is the 1930 quarter at 600 dpi:

I don't see an S on that 1927. I think someone was using it for a hole filler or they mistakenly put it in the wrong hole.

was this an ebay purchase? maybe the seller was hoping the bidders would fall for it?

bman wrote:was this an ebay purchase? maybe the seller was hoping the bidders would fall for it?

No. It was a buy from my craigslist ad at 90% of spot. It was just another coin in the book.