Ok. How do many think a coin value dips because the cleaning of a coin?

I bought so many nice morgans, peace dollars and a large quanity of Gold coins.The coins have been stated cleaned by a tpg or a previous owner. So, having high graded semi rare dates in Au/Bu. What are your thoughts.

How much do you think say a 1890CC Morgan dollar that is a solid 64 grade if deemed cleaned be worth?

Would you buy it if the price was right or run.

Thanks for any opinion. I need to start pricing some of the coins that I need to move correctly according to other coin collectors knowledge of "Cleaned" coin values.

 

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Cleaning will lower the value, especially harshly or improperly.

 

Cleaning of a coin can completely destroy the value of a coin--render it worth little more than melt. For the rarer dates, it would not render the coin valueless, but it would greatly reduce the monetary and collector's value of the coin. How much? I would say it depends on how much of a cleaning, and how harsh it was. If it was a dip done 40 years ago, it might well slab and not substantially impact upon value, as most brilliant Morgans were at one time dipped. If it were improperly cleaned, the coin would be a "no grade" situation, and be returned in a "details slab." Once again, it depends on the rarity of the coin, the type of cleaning done, and if there was significant damage to the coin. Remember that ANY cleaning removes the metallic surface of the coin to a degree, and is destructive.

 

Poor cleaning reduces value, whizzing kills value.

 

Very nice reply. Most coins I have bought have that Improperly code and saved many from doom. But others that have been deemed improperly cleaned I don't want to bother further.

I won't touch harshly cleaned coins, to me also they are melt value or what someone would pay for them for dansco fillers.

Again, great reply, I am hoping that the improper cleaned coins won't decrease more than they should in rarer grades. I feel the 1890cc that is a clear MS 64 should at least get MS 60 money or better.

 

It cannot be a 64 if it were cleaned. It may have MS details, but is not grade able due to cleaning.

 

I avoid buying any coins for numismatic value if they have been cleaned. Unless something was an extremely rare date or way out of my price range normally but I would like one then I may pay a reasonable premium for any cleaned/problem coin even key dates, semi keys, etc. Especially those commonly found in non problem examples for example Pre 33' US gold etc that have been cleaned, ex jewelry,etc to myself personally aren't worth paying more than melt or slightly over. Because if you pay that premium most likely you'll never get it back; unless of course the intrinsic value skyrockets. Myself I don't like paying for a mistake made by someone else, which is often why these coins are offered for such high prices over melt imo.
I used Pre 33' gold as an example because I always see problem coins being offered for so much over their melt value with those when you could pick up a TPG graded non problem example in the same price range.

 

Uh, no it doesn't. Click on the photo below for E-Bay link!



IMO, problem coins need to be evaluated on a coin by coin basis. I have seen cleaned and whizzed coins that I would be happy to own and I have seen cleaned and whizzed coins that I wouldn't take if you gave them to me for free. Now Ripley, if you said that polishing coins kills value, then I would agree. I have never seen a polished coin that I would want to own.

 

I don't buy problem coins because when it comes time to sell...it's still a problem coin and there are a lot of collectors that just wont touch them so your buying pool is much smaller. The coin series I collect are readily available problem free.....if I was buying something that was exceedingly rare then I would certainly have to consider purchasing a cleaned or damaged piece but....as a last resort.

 

They would be worth significantly less and I would run like heck away from cleaned coinage.

 

Cleaning of a coin can completely destroy the value of a coin--render it worth little more than melt.

I agree and value cleaned coins as such. Will not buy except as bullion myself.

 

Sorry but finding a sucker does not set the value of a coin in most cases IMO. Just like a wildly toned coin may sell for 10x what a same graded one might.

 

I would agree in principle, when it comes to key dates, and difficult dates. However, we sometimes make the choice--get a coin that is less attractive, but problem free, or get a damaged coin.

Here's an example. WHich one would you rather have? Neither of these are my coins, but they are selling for the same amount on E-bay:



Neither one is an attractive coin, but if one wanted the 93s in a collection, which one would you choose? I'd go for the problem free coin.

 

Anything Is Possible With Proper "Presentation"!

If you view the auction in this link: http://www.ebay.com/itm/1890-CC-MORGAN-DOLLAR-OUTSTANDING-UNCIRCULATED-/310569668942?pt=Coins_US_Individual&hash=item484f65114e#ht_1035wt_931
versus some others graded high "mint state" by "top tier" TPG, and CAC approved, you'll see that presentation is important. This coin was sold for a greater amount than the others.

We don't know the actual original state of this "linked" sold coin, as is true of many coins certified by "top tier" TPG. We generally know that the coin received 16 bids from 11 different individuals. We do know that some receiving "altered state" TPG grades were "conserved" (i.e. "cleaned) to receive a higher grade than their original state condition. I, and others, can prove that "cleaned" coins can receive elevated grades. Presentation is an important factor in determining final value.

I personally, over the years, have purchased sight-seen certified "cleaned" Key and Semi-key date coins in slabs of the 8 TPG listed in the "Grey Sheet". Buyers seem to accept these coins as authentic, reducing purchasing reluctance. I've always sold these coins at a profit. Some were even removed from their slabs, submitted to a less critical TPG, receiving an equivalent or greater grades, thus realizing greater potential value through altered presentation.

JMHO :thumb:

 

So you are calling me a sucker? I paid $500 for that coin over 5 years ago in an auction setting. I knew that it whizzed when I bought it but I bought it for two reasons. The first reason was that I wanted a whizzed coin to study. The second reason is because, despite the whizzing, it is a very attractive coin. The coin sold for over $500 in less than one month. Furthermore, I have paid 10X price guide for many a toned coin in my life and sold them for a profit. Just because you refuse to engage in that market doesn't make it a sucker's paradise.

 

A coin dealer told me that a safe way to clean a dirty coin (not tarnish, just dirt), and to add some shine, would be to soak it in olive oil for a few hours, and then use soap and water with fingers.

Is that an alright way to do it? I did it to a buffalo I had and I really couldn't see any difirence between before and after I did it.

 

Don't use soapy water and your fingers to rub your coins. It will make it shiny in a bad way while creating tiny scratches on the surface.

 

No. Mechanical cleaning such as what you described can scratch the surface of the coin. You might want to steer clear of that coin dealer.