In addition to being a numismatist, I am a social change professor at an institution of science and technology. My research documents how society has changed since internet access became widespread. Algorithms chart what we like and believe. (Facebook is doing this now with each of your clicks.) After almost a quarter century of this, the common person no longer seeks information. They seek affirmation.
Technology gives you what you want. Not what you need.
No where is this more apparent than with amateurs and visitors to Facebook coin groups. They get their affirmation (get-rich quick) from TikTok, YouTube and eBay, citing all manner of fabulous prices and sky-high values for near impossible-to-find double dies, copper war cents and condition rarities–all available in pocket change.
Note: For those who do not know what “condition rarity” means, that proves the point. It means a coin that is common in low grades but scarce or rare in higher ones. “Absolute rarity” means the total of that date and mint known to survive.
The information, generally, is correct in these click-bait videos. In the one below, there’s lots of useful information. What’s missing is the near impossible aspect of finding one of these copper war pennies in your pocket or in the ground:
See my post about 1943 copper cents available for $10 in Etsy.
What annoys hobbyist members are newbies who just show a coin or coins and post one word: “Value?” “Thoughts?” “Opinion?”
In other words, they don’t want to do the necessary research or even know the faintest idea about collecting. They just want a dollar figure, and if you state, no value, damage, etc., they reply that they have researched the coin on one of these social media sites.
They know little about grading, comparing a circulated coin from pocket change with a condition rarity same date/mint mark coin graded MS67 by PCGS or NGC. Another example:
We see this one just about daily on Facebook coin groups:
These examples above are worth face value or $1 or $2 at most. They are circulated. The reason that some examples go for record prices, again, is the condition.
This website tackles the Bicentennial coin no mint mark with solid numismatic information:
Experienced members are on these sites viewing and answering these inquiries honestly or snarkily. Or worse, not at all. (If you asked the group a question and no one responded, there’s probably an issue with your question.)
The most annoying posts are ones about common coins, often still in circulation, that the person has never seen before. Here is an example with the typical response:
Just because you didn’t know about the circulating coin doesn’t make it valuable.
I hope this post encourages viewers to do the necessary numismatic research rather than rely on algorithms to do that for you.
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You can find more information about types, varieties, errors, grading, bidding and buying in Coin News Updated: The Essential Guide to Online Bidding. Please consider buying or gifting the work for a friend, as it underwrites this hobbyist blog. Thank you.
