http://www.teletrade.com/coins/lot.asp?auction=3285&lot=1102 PCGS labeled this as a 95, which means scratches.
Look at her bun. See that line that goes across her hair and into the fields? That is called a scratch.
I see the scratch. What I am not understanding is why is this coin bringing so much with said scratch? The 1883 NC is the cheapest liberty nickel there is.
First off, that is sorely mistaken. Second, that would be a MS Details coin easily. So I see $28 as cheap. I would honestly easily pay up to $30 for that beauty.
How so? Look in the redbook, $14 in EF-40, All other years are $30+. The 1883 NC nickel was hoarded. So there a plenty of them surviving in high grades. "Rumors began to fly, fueled by the press and by coin dealers with specimens to sell, that the new Liberty Head Nickel was about to be recalled by the Mint because of the serious "error" of omitting the denomination. People began hoarding them, and today, 1883 "no cents" specimens can readily be found in high grades [and cheaper] as a result." -Wikipedia
Detecto come on bud, you have GOT to stop relying on Red Book as a reliable price guide. I know I'm not the only one to mention that to you in the past. The other thing is you're going to take anything from Wikipedia as reliable? Wikipedia is user submitted material, for the most part, and much of the sources of that information is highly questionable. Case in point, I found a Wikipedia listing for members of my ancestral line, which was 100% completely, and undeniably incorrect, and I have found many user submitted articles on Wikipedia to be inaccurate as well. For numismatic items, you really need to stick to the more reliable information sources, which Red Book is considered by the majority of this hobby to be. Only their price guide is unreliable, for reason already stated by many, but I will reiterate for you: THE PRICE GUIDE PRICES ARE ALREADY OUTDATED BY THE TIME RED BOOK IS PUBLISHED AND AVAILABLE FOR SALE. Remember that and you'll never go wrong :thumb:
For price values I try to use the Greysheet as a guide for selling (the bid column and then subtract 10%) and for buying I try to look at recent eBay sales (they are usually pretty accurate because they represent the most recent prices) and then the auction results from Heritage and Teletrade because they have different items that eBay might not. Sometimes you'll see items on eBay that someone bought off of teletrade or heritage and are trying to resale... That's always funny seeing
Only because its an rpd ! Though if you watch the bay I bet it will be listed raw and sold for a profit
Mr. Ambassador, you advised in your guide to coin collecting for newbies that the Red Book is a most unreliable source for the pricing of coins, yet you do not live by your own advice. It's no wonder that no one here takes you seriously.
I know the RB is not great for prices. But I was using it as an example to show the price difference in the 1883 NC nickel and other liberty nickel. While the RB may not have the right price, it surely notes that there is a difference. It's a known fact the 1883 NC nickel was hoarded due to people thinking the missing denomination was an error. Since many of them were saved vs. others being spent, more of them are surviving in higher grades. There are over 6,000 surviving 1883 NC Liberty nickels in the NGC census alone. 5,976 of them, are Mint State. Now lets take the 1911 Nickel, which had a mintage close to 40 million, while the 1883 NC had only 5 million plus. How many are surviving in NGC slabs in MS? 1,072. Now...why would so many 1883 NC nickels be surviving in Mint State, which a mintage of around 5 million? The 1911 Nickel had a mintage of close to 40 million, almost 8 times as many. The answer? Because they were hoarded.
Oh good eye! Making it more than the average N/C. Caught what neither I or Detecto saw. Oh, Detecto, as a clarity, a RPD is worth more. Just sayin'
These dang things are so plentiful in mint state why the devil would you want one in a 'details' holder?
Because after it's cracked it will turn into a raw "gem". It's simple marketing.. a genny label is basically a scarlet letter on coins, so removing it can open up to a larger group of buyers... many people are always hoping for that diamond in the rough. There are a few ebay sellers who regularly buy such coins from teletrade, heritage, etc, then crack and sell raw. Remember a price GUIDE is just that.. a GUIDE and you'll be much better off. The problem with the red book is more in where their prices come from than in being outdated, with the impact of metal values being the exception.
I didn't realize that......lately there have been a whole slew of coins on Teletrade in 'details' holders. So these guys are cracking out problem coins and are selling them as problem free coins on e-bay? I'd heard of folks buying on Teletrade and turning around and selling their purchases on e-bay but never this crack out nonsense. How naive of me.
