In your opinion, what percentage of pre-1900 coins have problems

By problems:
Cleaning
Whizzing
Scratches
Damage
Corrosion
Laquer
Hazing
Artificial Toning
Filed Rims
Waxing, and other forms of surface alteration.

When I was novice at coins, I thought about 10-15% of coins had problems. I knew how to detect basic cleaning, thumbing(some anyway), and damage. Now that I can detect problems in a coin with much greater accuracy my perception has changed. I'd like to see what percentage yall think. I will share my thoughts after a few posts.

 

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If you include dipping into your numbers, my sense is that over 75% of coins offered by dealers are problem coins. This number would be much higher if you limited your question to non-modern coins.

 

Zaneman , from where I sit now I would have to say it is 80-85% that are bad & have one or more of the things you listed wrong with them.

Of the 500 or so coins I went through today that were pre 1900 , that is very close to the precentage I saw .

Kinda sad but ...always fun -:smile

 

Mike,
I'd like to only include dipping if it is overdipped, or has been circulated and dipped.

 

I would say 85 to 90 % if you count over dipping, or circulated and dipped.

 

zaneman:
Only dipping and/or circ & dipped: 50 to 75%
I know tht is a broad number, but if dipped correctly, it would not matter.

 

The bigger the coin and older the coin, there's more problems. To me, there's less problems with gold and copper then with silver.

I think a lot of coins in people's collections are problem free, especially if not purchased lately. Coins seem to circulate from dealer to dealer alot giving the impression that there are more problems then there really are.

JMHO

 

What is a good dip to use on silver halves?

 

I would have to go with 73%!


The Other, Other Frank

 

Seeing that I consider ANY dipping overdipping, I'm good with >75%.

Seriously, it depends on the series -- my sense if you define it the way that you do, is that for classic coins the number is around 75%. As many moderns haven't toned to require a dipping or have a high enough value to make doctoring profitable, they are far less likely to be problem coins. For some series -- trade dollars, seated dollars, and large cents come to mind -- the number is well over 90%. For some other series, say Mercury Dimes or Buffalo Nickels, the number is likely closer to 50%.

Just my unscientific thoughts based upon the dealers and shows I frequent...Mike

 

What is your percentage Zane ?

 

Oops, I forgot to chime in. I personally feel that excluding dipping, a minimum of 75% of old coins have been doctored, cleaned, damaged etc. It's downright frightening.

 

It's scary out there, be careful. That's why so many only collect modern coins now.

 

Or insist on ONLY major TPGs - PCGS or NGC.

 

Let's not forget that many years ago cleaning or polishing the coins in ones collection was not frowned upon as it is know. So many of the coins that have come from these old collections have been altered from their original mint state.

Lou

 

Based on the replies, maybe I'll restrict my collecting of older raw coins to only those listed as cleaned or polished. Better to take the price discount than to pay full price and have the next guy come along and claim it's cleaned.

 

A word of caution -- TPGs don't screen out all problem coins, only the ones they deem "market unacceptable". There are many, many problem coins in TPG holders including cleaned, AT, repaired, lasered, recolored, dipped, wiped, puttied, and all other types of cleaning/doctoring. While there is a certain amount of safety in purchasing a TPG certified coin, one cannot buy with abandon and expect problem-free coins. The saying "buy the coin not the holder" applies well to this discussion....Mike

 

70%, if not more