Net Grade This Details Coin #2

Yes, and I can see why it's not popular, but these issues are interesting to me precisely because they're hard. The easy way, which I see advocated here fairly often, is to adopt a rule that you'll never allow a problem coin into your collection; this avoids some of the tough decisions and simplifies navigating the market, especially if you leave the definition of "problem" to the TPGs.

On the other hand, nearly all of us are working with limited budgets, even if the limits may vary by orders of magnitude. The ability to evaluate problems rationally can enable you, once in a while, to buy a coin you couldn't otherwise afford. I do understand the argument that if you break away from the prescribed standards, then the whole game just devolves into a confusion of personal preferences - I can tolerate a staple scratch but not a polished surface, you might be different. But then again, the whole collectibles market is a giant aggregate of personal preferences and yet it somehow resolves into pricing that's not totally unpredictable. I think some of us could benefit from more open discussion about the proper value of slightly impaired coins, but sometimes it feels like a taboo subject.

 

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You guys can call it a 65 or whatever grade. IMO, The coin is worth $30-$32.

 

I said AU-53 maybe 55.

I think I am high after reading the comments. But that is what I thought before scrolling down.

 

The point is that any cleaned coin is essentially worthless, UNLESS it is a rare key date. Originally TPGs would refuse to grade a cleaned or damaged coin, and not even put it in a holder--This was called "body bagging." The coin was returned in a flip, with an explanation of why it was upgradable. TPGs have become more lenient, as they now put coins in "details" slabs, for the convenience of the consumer, not the good of the hobby, I can see putting an 1893s or 1889cc Morgan in a slab, as they are expensive key dates, but worth much less as details coins, as opposed to graded ones. However, putting a common date Morgan in a details slab doesn't increase its value, and really--who cares what grade it is if the coin is that badly damaged? It is still worth melt, and not anything more, unless it is a special date. This is a somewhat better date,--not a key by any means, but would have bene a decent coin without the cleaning. However, it is damaged beyond any commercial value IMHO.

 

Some 'cleanings' were innocent -- some kid may have wiped a somewhat dirty coin 30-40 years ago before we knew not to touch the thing. Today of course it's much more nefarious with coin doctors trying to improve a coins grade or appeal.

One benefit of being in the slab is that an unsuspecting buyer won't buy it raw at what he/she thinks is a good price.

Good points !