I have a number of these as a result of not buying smartly. I'm wondering what they are worth or where the marketplace may be for the coins if any. I have never knowingly ripped off a customer and do not intend to now. A couple of the coins are: A Barber quarter that is AU details, "cleaned" NGC; an 1832 quarter that is XF details. Both are decent looking coins with minor cleaning. Also, I bought a couple of $2 1/2 Indians that were graded MS64 by nonentity grading services--one was NNC the other a now defunct so-called grading service. They are both "cleaned", one obviously the other much less so. Melt on these is about $200. I also have a beautiful $2 1/2 Indian with a small scratch on the reverse. NGC called it BU details, reverse scratch, possibly I would be able to get a numerical grade elsewhere. Anyone know what this coin is worth. It used to be common for some details graded coins to be worth the next grade down--BUs cleaned would be worth AU money. That has changed apparently. Anyone know what these are worth?
Rule of thumb - problem coins are worth from 20-50% of what a problem free example is worth. Of course that rule is somewhat limited when dealing with bullion value for not all gold and silver coins are worth much more than bullion to begin with.
I just had an 1836 bust half dollar come back from PCGS as "surface smoothed", I thought it had been whizzed. This is a new one on me.
It's hard to figure value when dealing with whizzed or damaged coins. The question is always going to be how collectable a coin is? Does the collector want to look at his/her coin, or are they going to see a problem every time they inspect it, and want to move it out at firesale prices? Most details graded type gold is trading at a small percentage over melt value, that is the market reality. If you can get the same coin in a numerical grade holder you always do a lot better. I picked up a $20 Saint at a show recently, a typically nice 1927, but with a small reverse scratch. Does anyone know where the TPGs draw the line on what they will grade in scratched coins and what they will "details" grade? I see that PCGS publishes statistics on their grading: Number of Coins GradedLast 30 daysLast 12 months[TR="class: light-blue-bg"] [TD="class: left-align"]Total Coins Graded[/TD] 143,015 2,137,642 [/TR] [TR="class: blue-bg"] [TD="class: left-align"]Plus(+) Grades[/TD] 2,519 39,181 [/TR] [TR="class: light-blue-bg"] [TD="class: left-align"]CODE 90 - Questionable Authenticity[/TD] 505 5,071 [/TR] [TR="class: blue-bg"] [TD="class: left-align"]CODE 91 - Questionable Color[/TD] 536 8,531 [/TR] [TR="class: light-blue-bg"] [TD="class: left-align"]CODE 92 - Cleaning[/TD] 4,305 43,722 [/TR] [TR="class: blue-bg"] [TD="class: left-align"]CODE 93 - Planchet Flaw[/TD] 48 494 [/TR] [TR="class: light-blue-bg"] [TD="class: left-align"]CODE 94 - Altered Surfaces[/TD] 529 7,431 [/TR] [TR="class: blue-bg"] [TD="class: left-align"]CODE 95 - Scratch[/TD] 366 3,725 [/TR] [TR="class: light-blue-bg"] [TD="class: left-align"]CODE 96 - Refund. No Service[/TD] 1,184 7,998 [/TR] [TR="class: blue-bg"] [TD="class: left-align"]CODE 97 - Environmental Damage[/TD] 1,068 12,373 [/TR] [TR="class: light-blue-bg"] [TD="class: left-align"]CODE 98 - Damage[/TD] 505 2,228 [/TR] Warranty Claims - Last 30 daysWarranty Claims - Last 12 months NumberValueNumberValue[TR="class: light-blue-bg"] 158 $25,151.00 1,125 $1,093,637.00 [/TR] Estimated Submission Turnaround Time ServiceU.S. CoinsWorld Coins[TR="class: light-blue-bg"] [TD="class: left-align"]Express target: 5 business days[/TD] 7 business days 10 business days [/TR] [TR="class: blue-bg"] [TD="class: left-align"]Regular target: 15 business days[/TD] 15 business days 33 business days [/TR] [TR="class: light-blue-bg"] [TD="class: left-align"]Economy target: 20 business days[/TD] 25 business days 42 business days [/TR] [TR="class: blue-bg"] [TD="class: left-align"]Modern target: 20 business days[/TD] 20 business days 25 business days http://www.pcgs.com/Statistics/ [/TR]
It's not new. What it means is that somebody smoothed the surface of the coin in an effort to hide or lessen contact marks and/or hairlines or light scratches. It is one of the oldest doctoring methods.
It's a subjective call. It depends on the coin for one thing. The smaller the coin the less latitude they give, the larger the coin the more latitude they give. And of course it also depends on the scratch - how long it is, how deep it is, where it is located. And all of these things vary with each denomination as well. Bottom line - there are no written rules.
I may luck out with the Saint. It was not that deep though it extended a fair distance on the edge of the coin. It is also not a recent scratch and toning covered it somewhat.
My rule of thumb - never buy a coin, any coin, with a scratch that is more than few millimeters long. It's just too much risk.
I've been reading Q. David Bowers' book on $20s. He said about the same thing. At the shows it is very hard to find nice material, or problem-free gold of any kind at reasonable prices. So you are left with few options if you are there to buy.
Of course you have options - but instant gratification is not one of them. And to be honest with you, in this day and age, that is the single biggest problem that collectors have IMO. They just do not know how to be patient. If you can't find the coin you want - walk away ! I've been to many coin shows with a wad of cash in my pocket to spend, and I'm talkin high 4 figures, and walked away. Anybody can do it. And I have always, every single time, been happy that I did ! It's a simple fact of life - you are not always going to find coins you want to buy at even the biggest coin shows. Nor will you find them at your dealers' shops, or even on-line. Sometimes you just have to wait for that right coin to come along. And it is always, always, always - worth it !
DEAD ON! I see it all the time, people run out and just have to fill that hole ASAP. Quality coin collecting demands patience and with enough persistance, the collector will be rewarded with quality and value.
I will add to that: unless you are poor like me (me literally, not gd) and it is at a discounted price.
