I have read somewhere that planchet clips act detrimentally with regard to the value of early large cents. I can see this being true for other series, but seems odd considering that if anything, planchet clips are probably not that rare an ocurrence with early coinage. See this S-103, 1796 LIHERTY cent. It has a slight clip, noticeable primarily on the obverse. Any opinions?
The concept goes back to the basics of coin grading. That being that one of the first things judged to establish a coin's grade is planchet quality. Thus if the planchet has been clipped then the planchet quality is by definition inferior and thus the grade would be lower for a coin with a clipped planchet than it would be for one of similar condition with an unclipped or complete planchet.
While I agree with what G wrote above, in practice, and speaking on the coin the OP has posted, there is little to no effect on value with a clip that minor (presuming, of course, that IS a clip) on a coin in that condition.
Are you talking about the flattened area above the I? It looks like the penny has an edge ding, from the puffed appearance of the rim. A planchet clip would be smoother, wouldn't it? The penny has had a lot of wear.
A true clip would be detrimental to those collecting 'perfect' coins and added value to those who collect errors. The leading error collector of Early Large cents just recently sold his massive collection and I'm unaware of many like-minded collectors taking his place right now. So if you have the same interest, now is a great time to accumulate a collection at lttle or no premium. There are always more people looking for the best and most perfect coins. I have never traveled in such lofty circles.
Several years back I bought an 1806 half cent witha 90 degree rotation and a 3 or 4% clip for 50 bucks. I had it for a year or so then put it up for sale, highest offer was 50 bucks. Could of been the wrong crowd, bad timing or maybe its just worth 50 bucks...
I don't think it's a clip since it's not evident on the reverse. I Attributed it without looking at your attribution and came to the same conclusion. It's a hard one to grade because it has features of both VG and AG at various placed on the planchet so I guess a net G. An R4+ is about the starting point for rarity premiums so I'm guessing retail around $350 where a common would run $175. It would fit in well with my own collection. ps There were also miscut planchets from too close to the edge of the copper strips which would have a flat rather than rounded piece out of the planchet. Just a variant error type.
Eduard: I have to agree with the above posters: Are you sure that it is a clip? It appears to be a rim ding to my eye. But hey what do I know, I wear glasses.
I've never seen minor clips have any effect on value for the early copper. I don't know too many people who collect "perfect" early copper. I'm not sure if I have ever SEEN any "perfect" early copper.
You know, I don't have it in from of me now to examine closely, but the seller (serious EACer - one of the 3/4 well known copper dealers) described it as 'with a slight clip'. I bought this at a time when I was seriously looking for a LIHERTY cent. I was offered a lot of S-104's, and only two S-103's came along in that time, that I could afford. The other one was severely corroded. This variety seems to carry a premium beyond its rarity, simply due to the fact the 'B' in 'Liberty' looks like an 'H'. So marshall, I wish I had only paid what you estimated it at ($350). It was in fact (much) more than that. Still, I am happy to have it.
Well, there 1 104 (R4+, 76-115) for every 2-3 103s (R3+, 201-300) and the combination has a redbook of $350. So I have not given enough rarity premium to the S-103. Perhaps someone with a CQR could help us out with the rarity premium. I know I would place it in the AVG group rather than scuzzy due to the nicer surfaces. Oops! I should be talking it down since I might be interested if you find an upgrade. By the way, another variety at the same rarity also has a premium far beyond it's rarity. Hove you looked at the S-272's? It's an R4+ with a R5+/R6 premium. Perhaps yours is as well.
The 2006 CQR lists 103 as a 4+ and 104 as a 3. In low grades (below EAC VG8), the 104 is more valuable, and in higher grades (above EAC VG8) the 103 is more valuable. It has been my experience that rarity ratings are an imprecise science and we should be careful when relying on them for accuracy much less value.
A minor clip like that won't hurt the value. If it's an "edge of strip" planchet, the "clip" will typically be perfectly flat and perpendicular to both sides.
