OK, so I'm really torn on my decision about this coin. I'd love input from you seasoned collectors! What I'd like to do though is show you the coin first, then tell you about it after some input; i.e., you guess the grade, judge the eye appeal, attach a price if you're willing, etc. One extra piece of information: It is a Die State II. Looking forward to your feedback!
It looks like it's been cleaned. Did it get the dreaded purple label with an AU details grade, improperly cleaned? I'd like to see the label posted. NGC lists a normal AU-50 at $840. AU-55 at $1060. AU-58 at $1280 MS-60 $1750 61- $2590 Stuff can usually be had for around 10-20% back of their values. If it got an improperly cleaned label, it will knock several hundreds off the value. Most collectors tend to stay away from those if they can. Unless its a chance to own something very rare and otherwise unaffordable in undamaged condition. Heres one that NGC graded for me this summer. This got a MS-62. If youll notice the fields are alot more clean and smooth. An example of what they can be. This is what I based my guess off of.
Vess1, you are correct. It's improperly cleaned, AU Details. And am I understanding correctly that I should only pay 10% or 20% of the price of a regular...AU50 for example?
BTW, great coin! I am actually a "details" CC collector, but I don't want to give away the farm for details coins.
No, that would be if it was a problem free example. It can be very hard to value coins that receive this designation. Some even say you can't buy an improperly cleaned coin too cheap. The melt value of it is worth slightly over $400. So that's your starting point. Now you have to figure how much numismatic premium is attached to it given it's condition. It may be a 55 to 58 grade normally. The CC mint mark will help the value of this some. Though personally, I wouldn't pay much higher than $600 for it. $700 would be too much. The seller may be greedy, or they may be happy to move it at $600. Anything over 6-700 range, I'd definitely walk. I don't know what die state II designation is supposed to be. It sounds like a seller trying to artificially raise the value of it. It sounds harsh, but if you could buy a problem free AU-55 for $300 more, most people will go that route and avoid this one. The ball is in your court on this one.
I saw that in your profile. That's pretty cool. I wish I could stick to collecting in one area but I can't. I think CC's are great, though I don't own any yet. Hope to eventually.
Vess1, you're making perfect sense to me. I struggle because I like the eye appeal of the coin (as a newbie), it's a lower-circulation coin, etc. (Die State II is when the scroll is partially gone under WE on the reverse; there are only three die states, one variety for this year.) But for just a little more I could get a problem-free coin. Or for a little less I could be happy with an XF coin. You've given just the advise I needed, thanks! I could eventually be converted from "details" collecting...if my pocketbook can handle it. This big-ticket item is a huuuuuge stretch for me.
Great! Glad I could help. Yeah, that's usually the dilemma. Most will say you're better off to get the problem free example. Even if it is in a lower grade. I have not purchased a details graded coin yet, but I suppose I would if it was a fantastic discount for a great deal. One example would be the 1839-O quarter eagle. Low mintage and the only one of that type produced at New Orleans. I considered getting an improperly cleaned one, one time because they are tough to find and pricey. I ended up not getting it. But that's an example of a situation where I'd consider buying one for much cheaper than a problem free one. There probably won't be enough of a difference on this $5 to make it worth it. Unless you have a highly motivated seller. Which will probably happen eventually. Or an overly anxious buyer will come along. One situation or the other will occur with that coin.
I just broke the news to the dealer. He was very understanding, but obviously not motivated enough to offer me the coin for less. I think I may switch from "Details" to VG-XF collector! There are a lot of attractive coins in those grades that might fit my budget as well. I'm still glad I started where I did because everyone telling me how to do doesn't work...it's like learning how to use a computer without touching the computer!
