Worn Coins - Eye Appeal

Hi,
I'm sorry if this is a stupid question, but is there any value to coins based only on eye appeal, disregarding other factors such as rarity and such? I am new to coin collecting per se, but I've always had an appreciation for good looking coins, some of which were probably not rare but just had a great look to them because of the way they were worn down without any real damage otherwise. Kinda like someone rubbed it for good luck every day but didn't let bang up against other coins.

I'm sure most avid collectors probably like to deal with only proof and MS coins, but a really nicely worn coin just speaks to me somehow and I wondered if I was the only one. From my experience, not all coins wear nicely because of the design, while others almost look like they were meant to be worn down. Some old GW quarters are just fantastic looking if worn properly, as are walker halves.

In any case, just wondered if there are people that actually collect worn coins purposefully, and if professional grading gives a lot of weight to this subjective trait, or cares more about whether certain details are visible or not.

Thanks,
Ako

 

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I think the rest of your post answered your own question.

Is there value? Sure. Will people pay premiums for them...that's a different story. Will they 'grade" well? no.

Value is just that..it's value. If the coin is important to you, or appealing in some way, or if you enjoy havign it...then it has value to you.

Will it have value to anyone else, thus commanding a high retail price? Probably not, since TYPICALLY such things are determined nearly exclusively by rarity and condition. Professional graders, collectors concerned with investment potential, etc...they will be considerably more interested in an uncirculated example, or particular details of a circulated one. Yes, eye appeal will matter to them, but only within the context of the grade.

However, having said that...

You ask if there are others who collect worn coins. Absolutely. I'm one of them. To me, every bit of wear on a coin is another story it can tell...it's another "what if" for me to wonder about, and dream about, and talk about with my kids or my friends.

My collection isn't, by any means, made up exclusively of worn coins...but there are several in it, and indeed, a heavily worn common British penny remains my favorite coin.

So hey...is there value? Well..that's up to you. YOU determine the value of something to you. Are you likely to to get rich as "That guy who specializes in worn coins"? Probably not. Will your collection have meaning to you? Absolutely.

 

This is my favorite worn coin-- I'm sure it has quite a story to tell. It is a copper 2 sols that was issued in France in 1792 to rally support for the ill-fated king, Louis XVI. The obverse reads "Louis XVI, King of the French". The reverse says "The Nation, the Law, the King", and "4th Year of Liberty". Louis XVI was guillotined early the next year.

 

Thank you very much for the informative and concise answer. It pretty much confirmed my suspicions, though I didn't have any idea how such things would grade. It's kinda sad that such things aren't considered more while grading, but I can completely understand as it is so subjective.

You hear (see) the phrase "Looks better in hand" thrown around so much that I feel it would be hard to rely on that unless you know the seller doesn't throw it around lightly. You can bet almost every coin will look better in hand than in a picture. =P

Not being a professional numismatic yet, and not having the bankroll to just go out and purchase what I want, I find myself roll searching with whatever cash I can come up with to get started in the hobby. I do search for key dates and errors, but sometimes come across coins that draw me in even though they show no apparent numismatic value at all. It's nice to know that even though they have no extra value, other people appreciate them as well. It's not just worn coins either, though I'm not particularly attracted to dimes, the low to mid 80's have a wonderful deep-dish, bold design that is such a contrast to other years and find myself picking out the best examples and putting them aside. I guess this is what it's like to have the coin collecting bug.

Sorry to ramble and thanks again,
Ako

 

Ramble away, Akovia! Good to know, as you said, that there are others of us.

My favorite I mentioned above...



How on earth does a 98 year old British penny end up across an ocean in a roll of half dollars bearing the likeness of a President who wasn't even BORN when the penny was minted??

Enjoy your uncirculated Peace dollars, guys...I'll take this one any day.

 

Quite a few collectors prefer a nice worn coin, especially if the whole set is worn accordingly, to an unused piece. I like barber dimes in F-VF and have almost complete that set in such grades, as well as quite a few Bust Halves in the same grades. To know those coins were actually used by everyday people for everyday needs and the history that conveys to me is far more priceless than a piece that was saved away in a drawer for 200 years without ever seeing a pocket or a cash register.

As far as the TPG's, I don't think they generally apply the same respect for less than near-perfect examples of such coins unless their rarity suggests otherwise.
Guy

 

Yes - eye appeal is very much a factor of premiums especially for certain series. For example on large cents two coins grade the same, but one has a more eye appealing planchet and will bring a premium. Eye appeal makes a big difference - look at the toning thread started by lehigh96 and you can see the premiums they pay for the toning.

 

you're not the only one who likes worn coins. while i do have some proof and ms coins, the vast majority of my coins are worn. sometimes i wish the coins could talk and i could hear the stories from over the years of where they've been, what they were used to purchase, who's owned them, etc.

here's one of my favorite worn coins:

 

They always look tough or used a lot. Kind of like cars. Any car in new condition is desired. One with several hundred thousands of miles are less preferred. The stories that go with them are more interesting. This is part of a find from a well in Mexico. Just a sampling the finder:

Valuable, probably not. Just old.

 

You already have some good answers, but here is my perspective. Any coin has several attributes which go into the price one can expect to receive for it.

1. Wear - Has the coin been worn down and thus lost detail?
2. Condition - Has the coin been injured by contact marks, digs, mutilations, bending, edge nicks or corrosion? The answer is usually yes when dealing with early copper making those not so damaged especially valuable.
3. Toning - did the coin tone evenly or with particularly pleasing coloring?
4. Eye Appeal - While this can be related to the above, it also has a separate effect in total. It is like a summary of the above effects.
5. Rarity - This may be due to the type, date, mint, die state or variety.
6. Demand - Is this a popular item which is collected by the masses or a particularly dedicated group of people?
7. Time - How important is it to turn the coin in a short amount of time? Generally, those who must turn over the inventory will offer less than those who are willing to wait a while when you're selling, but oddly enough, those without a need to turn over the coins are usually willing to pay more (ie the collector).

All of the above can influence the price one is willing to pay for a coin. Which items appeal to any particular person will affect that person's bid or offer. The best answer is that those who wish to turn over the coins are not going to pay much of a premium for the coins with better eye appeal than their wear and basic condition would suggest. But those with a particular interest like toning or choice condition collecting would probably be willing to boost their offers more substantially.

Now I like this one. Not really a lot of eye appeal though.



ps I suppose you can tell I'm partial to number 5.

 

In my opinion, some series of coins look better in AU grades than low MS grades. A prime example of this is the Morgan series. I'd rather have a nice AU example than a 60 or 61 of the same coin. The lower MS grades in the Morgan series may have some marks that make the coin look down right ugly. Again just my opinion.

 

I have several worn coins that I won't part with because they have special meaning to me. This 1797 King George III cartwheel is one of those. I found it on the riverbank near my home and it was coinage that was used during the infancy of the province that I live in.

 

In my experience, eye appeal has different meanings when applied to mint state and circulated coins. The eye appeal of a mint state coin is usually a function of the other elements of the grading process in combination with toning. As noted by Mark above, The Toning Premium Thread should go a long way in explaining the effect of eye appeal on value of mint state coins.

It seems that you are more interested in circulated coins however. I don't collect circulated coinage but I know many collectors that do and I know what they look for when they purchase their coins. It is rare for circulated coins to have rainbow toning and not something that most circulated collectors covet. Here is a key date circulated Mercury Dime that I purchased a few years ago as an example.



Eye appeal to most circulated collectors rests in finding coins with nice even wear and ORIGINAL surfaces. They don't like coins that are damaged, corroded, altered, and especially cleaned. Notice the damage between 1 & 2 on the reverse of the toned coins shown above. That would automatically disqualify this coin for most collectors. Here is a photo of a well worn Mercury Dime in Good-4 condition that would peak the interest of a circulated coin collector.



Hope this helped answer your question.

 

I really appreciate the in-depth explanations and especially the wonderful pictures. (Even though I really like nice toning, that bottom Mercury dime is absolutely fantastic!)

This makes perfect sense and I guess would have been obvious if I had thought about it a little more. There are definitely different factors to consider as both have led much different lives. I guess that's why I thought there might actually be some true collect-ability for perfectly worn, yet undamaged coins. It would take quite unique circumstances to find such coins thus making them rare in their own right. There is nothing quite like the deep contrast on old silver coins that have been rubbed smooth on the very high points, and the crevices are almost black.

Maybe in the future I will be able to delve into the Proof and Mint State world as they have their own unique charm. I really do appreciate a perfectly struck, and brilliant coin, but I'm afraid that most are out of my reach for now. Until then, and even then I'm sure I'll still covet the well circulated coins that are chock full of character. At least it sounds as if I won't pay a hefty premium unless it's a key date or rare for another reason.

Many Thanks,
Ako

 

I like old worn coins like yours ikandiggit, they have a lot of character and meaning to me. I'm curious about the partial counterstamp on your cartwheel. In your pic it appears to show an "R" or "B" with a couple of worn letters followed by a "D". When you look at it under magnification does it show any other markings, letters or characters? Also is anything stamped on the reverse? I'm a serious collector of counterstamps, and always interested in learning about them, especially ones I haven't seen before. These old coins are especially appealing when they're dug like yours. The stamp just adds to the appeal for me.

Bruce

 

Akovia,
I've been collecting for about 40 years. When I purchase a coin I can't wait to receive it in the mail, or get it from the shop. I also am a roll searcher. The past weekend I purchased $5 in pennies and I found 3 Indian heads and 1 1899 dime in with the pennies. The treasure hunt is better then the purchase for me. Worn or BU GOTTA LOVE IT!! Happy hunting

​

 

The reverse is smooth. I can't make out any other letters on the obverse other than what you see. Because there was really nothing here in the early 1800's other than a couple of forts, it would be almost impossible to find out where the counterstamps originated. It may have been from a merchant in Upper Canada, Lower Canada or Great Britain.

 

I just got this 1837 Feuchtwanger cent. It's in bad shape, a little corroded, huge rim ding, but I'm really proud of it (partially because the name was spelled wrong in the auction and I got it (with shipping) for $25.

 

I MUCH prefer circulated coins. I collect because of my love for history- a coin that has sat on somebody's shelf for 50 years doesn't have a whole lot of history to me. It doesn't hurt that they sell for a LOT less when they are not MS.

For me, a coin is welcome in my collection if: The date is readable. That's big for me. There is no hole. I don't like holed coins. That's pretty much the only qualifications for being in my collection!

This is one of my favorite coins in my collection. It's an 1853 dime, and it was given to be back in the mid 1990s, by a friend. Even though I didn't start really collecting coins until 2008 I always knew where this was and it was my oldest US coin until I bought a bent 1832 half dime in 08. It's one of my favorites because of sentimental value.


I bought this dime in early 2010. It's my favorite purchase of the year.


This 1911 D dime is the ideal look I go for when buying old coins


I bought this quarter the same day I bought the 1857 dime. It's much newer but not in as good a shape...yet I still think it is awesome!

 

I like worn/circulated coins as well, for many of the same reasons you state. Their history appeals to me, who held that coin in my collection 50, 100 or 150 years ago? What kind of stories could it tell? I think there are manycollectors out there who find old worn coins appealing. That would be my bit of advice to you; it's your collection, collect what you like!

You may not get the premiums when you go to sell that someone who only collects MS coins will, but I've always considered my involvement in collecting coins as something fun to do. Any financial gains I might accrue are just gravy.
The nice thing about collecting heavily circulated US silver coins(up to VF or so depending on date/mm) is that most dates and mint marks can be had for around their melt value, making them relatively inexpensive to collect. But at the end of the day, you still have a bunch of silver that you could sell, in a market like this one, if you've been collecting for years, you'll probably even make some money.
I also am a big fan of they way those circulated silver coins toned over the years, I'm not talking about the crazy rainbow toning that many morgan collectors pay big bucks for these days, but just regular gun metal grey toning.
I've attached a couple of key dates that I still need to complete both my Morgan and SLQ collections. These coins would fit in nicely with the grades I collect.
I've been hunting the right coin to finish both these collections for years now. But hey, that's part of the fun as well.
Both these are fairly high dollar coins, which brings me to another point, it is possible to turn a profit if you collect circulated key dates, simply because they are high demand coins, but you'll probably have to hold onto them for a while.
Anyhow, I'm rambling...happy collecting to you!:thumb: