How much am I going to lose?

I feel on a coin like this that 'ethics' is a very touchy/tricky subject. Its not like the problem is glaringly obvious, and it could possibly pass a round of grading at PCGS or NGC. And what ethics are involved when cracking out a coin when you cant tell the problem or think its under graded. We have to remember these grades are subjective anyway and the grader may have had a bad day and they messed up, not the buyer. Plus the price differential to any bigger sellers isnt worth the regrade fees, that is literally the difference between what this coin is worth in a cleaned grade versus full grade, and also why we still see it in this slab.

I can tell you ive bought worse in problem free slabs. All of mine have some minor hairlines going on that is obviously from an old cleaning, where as this one seems to have die polish instead (aside from the corrosion, which if its the right field looks more like a toning issue).

I actually think this is one of those times where the slab just isnt helping and may be slightly wrong to begin with. Its a tough spot to be in for sure, but im thinking you will have better results using Heritages pictures and taking the coin out of its tomb if you want to resell.

Now heres an example of what would be on the unethical side. Imaginary ebay listing by the way.

"Up for auction/bid today is a very nice, original, 1876-S Seated Liberty Half Dollar. A very attractive coin previously graded by ANACS, but since removed for my Dansco Type Set album. This is a San Francisco minted coin that is about uncirculated with plenty of natural toning and original surfaces. Check out my high resolution photos and bid with confidence on this premium quality half dollar."

Boom, sold for $151.47. Hypothetically.

After looking over that fake listing, I dont even know if that would qualify as unethical, i could definitely imagine a listing like that from a similar situation though

 

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Lots of things to think about trey. So does corroded mean cleaned or more like environmental damage?

 

Corrosion, in layman's terms, is junk that begins surfacing on a coin that eats away at the metal and natural surfaces. An extreme example is as such (Note: picture does NOT belong to me):



The surface is eaten away by that green 'junk' on the surface. It is considered damage and typically a turning factor in a coin. Corrosion is the actual problem, and a coin that is corroded is a coin that has been eaten by corrosion.

On the topic of this coin:

I think she is a beautiful example, and typically corrosion is an unforgivable turn-off for me. I do believe I see what ANACS is talking about though, and would be able to without the slab. Granted, I could be wrong.

I would keep her in the slab to remain ethical and try selling her, but be patient. If you try to rush things you risk losing more money. Be patient in your selling of her, and you should be able to recuperate a fair majority of your investment.

 

Well let me rephrase the ethical part. Would you have a problem with anyone cracking this out for a possible regrade attempt? If not, then its very close to a similar situation, because there's only a few scenarios that would make that happen.
1: You disagree with a mistaken label/grade and seek to make sure its graded/attributed correctly, or
2: You believe the label but think the issue is borderline enough to pass at NGC or PCGS, which is unethical because you already know the damage exists and its already attributed and you are trying to unethically slide it by an off grader to pass as a problem free example to maximize value out of the coin.

(Yous in this example are just general yous, no one specific)

So if the OP cracks this coin and provides a good, honest description of what he sees disregarding the attached label, then its the duty of the buyer to be sure what they are getting. Which is also why I said attach those great HI-RES photo from Heritage. Even you question your ability to see what may or may not even be present (shoot we all cant even agree that there is real damage).

Also, I do think I MAY be able to stretch and see what ANACS sees based off of PCGS' description for environmental damage, specifically this part:

"Environmental Damage.
Coins that are damaged because of improper storage may be rejected. Corrosion is caused by storage in areas of high humidity, sea salvage coins, and coins found in the ground. Toning that is excessively dark or heavy, or which burns into the surface of the coin, may be rejected."

So how and where do you draw the line if the 'surface burn' is that light that we are having a hard time seeing it? Cause thats what im gonna 'guess' and say is wrong with this coin. That spot of toning to the right field is slightly burning or eating away at the surface, of course under a loupe it could be easily identifiable, but we dont have that opportunity.

Its a real tough situation, which is why patience will be key, and only the OP knows the route that will set right with him at the end of the day. However i dont think there is anything wrong with dumping a ridiculous (possibly wrong) label from the 3rd rated TPG and going out with a raw coin.

 

To answer the titular question in the thread, you won't lose any money until you sell it. If you can afford to sit on it for a year or so, you may find an increased interest. You now own a classic coin, one not typically subject to fad interest, but rather to steady growth in value. Enjoy your example, the sell it on later.

 

I understand your point. ^.- To me it comes down to the individual person and what I would want done to me. If someone had prior knowledge of an item and didn't share it with me, I would be disgruntled. But then again, that is just me, (not getting pious or self-righteous here.) If I have foreknowledge on a coin, even if I disagree with it, I feel it is my duty to share that with a potential buyer.

Now as this situation is so subjective, it comes down to each individual person. I am just one that feels along the lines "the whole truth and nothing but the truth". To each their own.

 

I know, I am just trying to clarify because some people will jump all over you on certain things and I am not advocating lying or trying to scam anyone. My point is the 'truth' might not be the real truth in the first place, or overblown to a degree.

As a collector, it is our duty to ensure we know as much about what we are giving our money away on, or at least enough information to be comfortable giving it away. ANACS is just an opinion, and in this case could be wrong. So the whole truth might be a bad description all together. I mean we have all had to reach on seeing what ANACS saw, thats a big indicator that either we arent up to speed or the coin is just as nice as what we are seeing in the pictures.

Anyway, i guess it doesnt really effect either of us at this point.

Hope everyone has a wonderful New Years Eve!

 

Crack the coin out, put it in the window sill with a southern view for a few months (rotating between obverse and reverse every so often) and then see what you have.

 

You're right... it is done every day but this does not make it okay. It's a lowlife move that's really no different than doctoring, other than it takes no brains or skill, as the desired end result is the same: money. It looks to be a pick-your-problem coin with an infinitely small chance of getting a pass from anyone, so the only reason one would have to crack before selling is to remove the scarlet A and hope to snag a sucker. With that said I do understand your point and feel bad that the OP made a bad choice, but it's better to offer as-is and hope someone will pay or have to eat a loss than it is stoop.

 

So if I cracked it out, resubmitted the coin, and it comes back with a passing grade, is this still unethical?

 

No. people do it every day.

 

I agree with the above. I just got back into collecting after many years off. 35 years ago you didn't buy coins on the internet. I've kind of decided for myself that anything I buy off the internet will have a $75 limit on raws due to this exact thing. Too much fraud and deception potential.

Like I tell my children, you can have your house, car and even wife taken from you, but only you can let your word and integrity be taken. If your word is only worth $150 I feel bad for you.

With that said, either sell as is or roll dice on a re-grade which will cost you even more "tuition" on this education. Let's just assume it was graded low. So you pay money to get back what you paid originally? You've still lost money.

But one thing is for certain, if you crack it open and sell raw without full disclosure you've placed yourself out there for harsh scrutiny. IMO this coin is very identifiable based upon the toning/corrosion patterns. You've already posted the pics in a public forum so anyone can find it.

I'd list it as is under "buy it now" with a "best offer" allowed. See what happens. Take your loss and move on.

 

I just want to make it clear that I would never try to sell this coin raw in hopes to deceive someone. I've already said I didn't really care how much I lost on the coin. I've lost way more on way less. Yes, if anacs got it wrong, why wouldn't I want to restore this coin's good name? Anyhow, thanks for the input everyone.

 

Double visible problems changes everything.

See I was incorrectly looking at the coin and can admit that. I mentioned that the hairlines looked more like die polish and Doug seen it otherwise. Obvious game changer.

So to the right field is where they are saying the corrosion is at Doug? It does look harsh but since I've never experienced that first hand a proper in hand inspection would've helped.