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Interview With Owner of MesaCoin.Com

The following is an interview that I did with the Jack Penrod (also known as Arizona Jack on the CoinTalk Forum). Jack is a coin collector, coin dealer, and Lincoln cent enthusiast. In fact, Jack’s coin store, MesaCoin.com specializes in the sale of Lincoln cents.

I thought that it would be great to interview Jack about being a coin dealer and a Lincoln cent expert. After reading this interview, I encourage you to check out Jack’s online coin store at www.mesacoin.com. Now, on with the interview.

Jack, thank you for agreeing to do this interview. You are famous on CoinTalk and it is a pleasure for me to get to interview you.

How did you start collecting coins?

Jack: I started with the Whitman blue folders in the 1960′s.  My uncle Skip worked at a coin shop in Detroit and would tag me along to coinshows, the shop, etc.  He was my mentor and teacher. Sit and search wheat bags was my #1 job.

How did you move from collecting coins to becoming a coin dealer?

Jack: It became something that I lived and breathed.  There reached a point that I had too many coins, and had lost my focus. I found that I could move some of my extras and build on my collection with the extra money.

When did you start your coin store?

Jack: I started MesaCoin.com in 2008 as an experiment to see if I could beat Ebay at the coin game. I was able to sell for lower prices and provide one on one service to my customers on a much more personal basis.

What advice would you give a coin collector who wants to become a coin dealer?

Jack: ” Specialize.”  Don’t try to be everything to everybody, you’ll get lost in the mix.  Do one thing and do it well.

Do you only sell coins online at Mesa Coin or do you also sell offline?

Jack: The majority of my sales are behind the front lines.  Many of my purchases are for want list customers, and they never see the light of day on my website.  They are ” pre-sold ” at time of purchase.

What advice do you have specifically related to selling coins on an online store?

Jack: You will need to cater to the customer.  You are the liaison between the customer and the bourse.  As you develop customers, your #1 job is to understand their set and their needs.  Most people want a matching set in any given grade.  A picture archive is great.  You can look up your customers’ collections and make sure that the new one will fit.  And, you can dictate purchases to their specific needs.

What about Lincoln cents made you decide to specialize in them?

Jack: I became intrigued with the history and the simple beauty of the wheat cent.  And, as a business man, I know they are the most popularly collected coin in the world.   How can you go wrong with that?

If someone is wanting to start collecting Lincoln cents, what advice would you give them?

Jack: Buy the keys first, but be very careful.  Do not fall into the trap of buying what you plan on spending right now. Buy the books first and window shop.

Research the differences in grades.  Many are not that far apart. What you’ll want to do is budget your set, set a goal, and be realistic.

For example, why buy a F12 SVDB for $1200 when you can buy a VF-20 for $1350 or an XF for $1400.  This coin alone will probably dictate your collection, if you choose to do a “matched set.”

Figure out your budget in advance and start with the most expensive coins first, after your “education buys.”

What Lincoln cents do you think will experience the most appreciation over the long run?

Jack: The keys are the most popular. Avoid the modern registry fever coins, which translates to common dates/grades in plastic that cannot hold up. Pass on that MS-67 1955-S for $100, spend that $100 on an XF or AU semi-key.

Are there any sleeper Lincoln cents you would recommend we watch?

Jack: The 20′s decade is notorious for weakly struck and ugly coins. With some searching, you can learn to spot the primos. Dates that immediately come to mind are the 21-S, 23-S, 24-S, and all branch mint from 1925-1928 in SHARP fully struck and original condition, grades XF and above, AU is ideal. An XF/AU set is the most popular set I help build.

I have asked a lot of questions here.  If you feel there is a better way to elicit this information in a better manner, please don’t hesitate to freehand this interview.

Jack: First thing that is in order for a beginning Lincoln collector is the ” tuition box “.  Buy a roll of generic wheats, then experiment.  Here is your shopping list:

Brillo pad, wire brush, potato, a jar of dip, some ” MS-70 “, a smoker in the family, a dirty thumb, dandruff shampoo and Dellers Darkener, a jar of olive oil and a can of acetone, Q-tip….etc. etc.

Destroy that roll – try everything.  Learn to recognize a baked coin, a dipped coin and see what a Q-tip does to proofs.  Rub a BU common coin with your t-shirt. See how to recolor dipped copper with the sulfer based dandruff shampoo, then dip it again and heat it. Artificial tone them with the MS-70.  See what cigarette smoke, when blown repeatedly on a dipped coin, will do. Try to cover scratches with the dirt on your thumb.  See what burying a cleaned coin in an old envelope in your basement, backyard or on top your water heater for a summer will do.

You must arm yourself with an arsenal of knowledge, and be able to instantly recognize the signs of doctoring.

Buy every book you can find -  the Lange book, Sol Taylor, Doughtery, Wexler, read them twice, then read them again.  Knowledge is king.

End of Interview

Again, I would like to thank Jack for taking the time to share his thoughts about being a coin dealer and collecting Lincoln cents.

I encourage you to check out Jack’s coin store.  Jack’s reputation on the CoinTalk forum is superb.  If you are looking to put together a collection of Lincoln cents, I highly encourage you to check out his site.  I am sure that he will provide you with similar great service.

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eShop: Investing In Coins key date coins lincoln cents

1914 D Lincoln Wheat Small Cent Penny Coin - Denver - Key Date
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1924 D Lincoln Wheat Small Cent Penny Coin - Denver - Key Date
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1909 S LINCOLN CENT - KEY DATE!!!!
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1924 D LINCOLN CENT - Early Semi-Key Date!
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Key Date Lincoln Wheat Pennys 1909 1911 1912 1913 1915 1916 1932 1933 P D S VDB
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KEY DATE 1914-D FINE+ LINCOLN WHEAT CENT - NO RESERVE! MUST SEE!
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1922D LINCOLN PENNY - EXTRA FINE/FINE - NICE TONING(RARE SEMI-KEY DATE)
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1922D LINCOLN PENNY - VERY FINE /VG+ - NICE TONING(RARE SEMI-KEY DATE)
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Key Date Lincoln Wheat Pennys 1909 1912 1913 1915 1922 1931 1932 1933 P D VDB
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1914-D Lincoln Wheat Cent Key Date Rare Denver Mint Penny Reverse Clip
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Key Date Lincoln Wheat Penny - 1909 1912 1913 1915 1916 1932 1933 VDB S D
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1915 S Lincoln Wheat Penny Copper KEY LOW MINT YEAR worn/colored but date clear
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1931-S LINCOLN CENT - XF - KEY DATE
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1909-S VDB Lincoln Cent PCGS MS62BN Key Date
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Early 'KEY' date 1913 D Lincoln wheat coin #11-4d
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1914 D LINCOLN WHEAT CENT/ RARE KEY DATE PENNY / F to VF DETAILS
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1910-S LINCOLN CENT- SEMI KEY!! BETTER DATE!! #5684A
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1909-S LINCOLN CENT- FINE+/ VERY FINE!! KEY DATE!! #5682A
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1912-D LINCOLN CENT- SEMI KEY!! BETTER DATE!! #5689A
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1909 VDB Lincoln Cent ***Key Date*** 1909 VDB
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1920-S LINCOLN WHEAT CENT- SEMI KEY!! BETTER DATE!! #624A
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1916-S LINCOLN CENT- SEMI KEY!! BETTER DATE!! #5701A
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1931 S Lincoln Cent Penny XF ** KEY DATE IN SERIES!!!
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1914 D LINCOLN WHEAT CENT/ VG to FINE DETAILS PENNY KEY DATE
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1911-D LINCOLN WHEAT CENT- SEMI-KEY !! BETTER DATE !! #6132A
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1909-S VDB LINCOLN CENT-(KEY DATE)
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1922 NO D Lincoln Cent ANACS VG Details Rare Key Date Old Holder 1922 Plain
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1923-S LINCOLN WHEAT CENT- SEMI-KEY !! BETTER DATE !! #6139A
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1924-S LINCOLN WHEAT CENT- SEMI-KEY !! BETTER DATE !! #6140A
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1909 VDB Lincoln Wheat Penny KEY DATE KEY DESIGNER Coin GREAT SHAPE & DETAILS
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1914-D 1c NGC MS-65 RB ~ GEM KEY DATE LINCOLN CENT
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1914-S LINCOLN CENT- SEMI KEY!! BETTER DATE!! #5162A
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1915-S LINCOLN CENT- SEMI KEY!! BETTER DATE!! #5165A
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1922-D LINCOLN CENT- SEMI KEY!! BETTER DATE!! #5169A
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1909 S VDB LINCOLN WHEAT CENT NGC VF DETAILS PENNY KEY DATE
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1909S XF Lincoln wheat cent, see store for other coins, 1909 S semi-key date
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1909S VDB XF Lincoln wheat cent, from ANACS slab, 1909 S key date
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1909-S VDB 1c ANACS F-15 ~ KEY DATE LINCOLN CENT
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PCGS 1931-S Lincoln Cent AU58 "KEY DATE"
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1957 NGC MS67 Red ULTRA RARE!! Lincoln Penny KEY Date GEM PQ++TOP POP no finer
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1914-D Lincoln Cent Key Date Denver Mint Rare Coin Sharp Detail Hole Filler
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1914-D Lincoln Cent Key Date Full Wheat Ears Rim Cuts Rare Coin Denver mInt
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KEY DATE-LOW GRADE-FILLERS-LINCOLN CENTS-1912S-13D-13S-14S-15D-15S N/R-FREE SHIP
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1924 - D Lincoln wheat cent -- RARE -- KEY DATE --
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KEY DATE Lincoln Wheat Cent, 1909-S VDB, Cleaned, Fine Detail.........COINBOXGUY
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1910 - S Lincoln wheat cent -- RARE -- KEY DATE --
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1911 - S Lincoln wheat cent -- RARE -- KEY DATE --
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1926 - S Lincoln wheat cent -- RARE -- KEY DATE --
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KEY DATE Lincoln Wheat Cent, 1914-D, Fine, Minor Damage.........COINBOXGUY
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1910-S LINCOLN CENT KEY DATE PRICE REDUCED
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KEY DATE Lincoln Wheat Cent, 1914-D, VF, Very Faint Scratch..........COINBOXGUY
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1922 - D Lincoln wheat cent -- RARE -- KEY DATE --
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KEY DATE 1931-S Lincoln/Wheat Cent PCGS Mint State 64 Brown
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1909-S VDB Lincoln Cent NCS F Detail Key Date
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1922-No D Lincoln Cent NGC VG 10 BN Key Date Strong Reverse
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1931-S LINCOLN WHEAT CENT MS63BN "NICE ORIGINAL SEMI-KEY-DATE COIN"
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RARE 1931-S LINCOLN WHEAT PENNY CENT KEY DATE COIN - N/R
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1931-S Lincoln Cent Nice XF Key Date Problem Free Nice Strike
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1931 S Lincoln Wheat Small One Cent 1¢ Penny Coin - San Francisco Key Date
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****** 1931 S Lincoln Wheat Penny Key Date !!!!! *****
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1924 D Lincoln Wheat Small Cent Penny Coin - Denver - Key Date
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Key Date Lincoln Wheat Pennys 1909 1911 1912 1913 1915 1931 1932 1933 P D S VDB
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Key Date Lincoln Wheat Pennys 1909 1912 1915 1922 1931 1932 1933 P D VDB
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KEY DATE 1924D LINCOLN CENT FINE + NICE COIN FULL WHEAT LINES
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1912-D LINCOLN CENT- SEMI KEY!! BETTER DATE!! #5690A
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1931-S Lincoln Wheat penny__AU detail__Red__Key date_low mintage_under 900,000_!
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1915-S LINCOLN CENT- SEMI KEY!! BETTER DATE!! #5698A
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1920-S LINCOLN WHEAT CENT- SEMI KEY!! BETTER DATE!! #625A
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1931 S LINCOLN CENT KEY DATE
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1909 S Lincoln Cent Penny VF ** FIRST YEAR ISSUE KEY DATE!!!
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1924D LINCOLN PENNY - VERY GOOD + - NICE TONING(VERY RARE KEY DATE)
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1911S LINCOLN PENNY - ABT GOOD ++ - NICE TONING(VERY RARE KEY DATE)
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1915S LINCOLN PENNY - ABT XF - NICE TONING(VERY RARE KEY DATE)
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Comments (8)

8 Responses to “Interview With Owner of MesaCoin.Com”

  1. Ben Goodness Says:
    February 4th, 2009 at 11:46 am

    Great interview, I particularly like the “destroy a wheat roll” lesson, I have never thought of that and will definitely experiment with it.

    Have a Great Day!

  2. Coinblogger Says:
    February 4th, 2009 at 5:31 pm

    Ben,

    Thanks for leaving a comment. I liked that advice too. I never thought about testing these things myself with my own coins. Definitely a worthwhile investment.

  3. Mag Says:
    February 5th, 2009 at 11:33 am

    that destroying a wheat roll is not only good for lincolns, but really for identifying any kind of cleaned or artificially toned coin! :)

  4. arizona jack Says:
    February 5th, 2009 at 11:39 pm

    Yep, that destroy a roll thing works on all coins. I would not recomend it with Saints tho :-)

  5. Coinblogger Says:
    February 6th, 2009 at 3:26 pm

    Mag,

    Thanks for leaving a comment. There is no reason why the tests on the wheat roll won’t apply to all coins.

    Jack,

    I agree with you. It is a lot cheaper messing around with wheat cents than gold.

  6. Make Money Buying Coins, 2009 Silver Bullion Coins - Coin Collecting News Update | Gold Newswire Says:
    February 7th, 2009 at 10:08 am

    [...] Jack is a coin dealer and lincoln cent expert.  This article provides some great insights into becoming a coin dealer and collecting lincoln [...]

  7. rzage Says:
    February 11th, 2009 at 5:52 pm

    Great interview , wish more dealers were like AJ . Also the destroy a roll is great advice , I think I’ll try cents and silver Quarters .

  8. FreakyGarrettC Says:
    February 25th, 2009 at 8:27 pm

    Good interview. Jack is a great guy. I am going to do something like the roll thing but with some junk silver and liver of sulfur tomorrow. :)

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