1907 HIGH RELIEF $20 damaged UNC details vs circulated grades?

Hi,
I'm new here. And I'm not a coin expert.

A recent purchase...I have the coin below (sorry pics a little fuzzy & color not great) that was given the 98 Damaged UNC details designation - Ex Jewelry by PCGS.

I'm curious as to folks perceptions of a coin like this with nice features and not terrible rim damage versus a graded circulated coin? It seems per PCGS that prices are higher for a graded coin (in the 45-58 range) than would be for this coin but to me this coin has more eye appeal than many circulated coins. Do collectors tend to run from ungraded coins like this or will they consider it on it's merits?

 

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To most folks an ex-jewelry coin is damaged and many folks will not knowingly buy such coins. This is especially true for expensive coins that are not rare. As a real world example, I would urge any client of mine to pass on such a coin.

 

The high relief is such a beautiful coin , and if the only way I could own one was a ex jewelry coin , So be it . Your coin is still a beauty to me .

 

I've wondered the same thing in the past when looking at a nice coin that was an ex jewelry piece or had a light cleaning. Personally I would proudly own that high relief because I don't have one yet, but I have to consider resale value when I bought it. I just don't want to take a big hit should I need to offload some coins for some reason.

Tom, how would you place a value on a piece like this? Would you just consider a mid level net grade value, or would you consider the desirability of this particular coin to collectors and set a market value based on that?

 

Tom,
Would you have your clients pass at any price? Or should I ask if you yourself would?

I've seen enough of these (ex jewelry, cleaned, scratched - ungraded but slabbed) sell in the 7-8k range to figure there must be some interest. The discount from a good UNC graded is a lot of $. If someone finds the right coin with great details but not grossly detracting issues couldn't it be a good fit? Sure one could buy a graded VF (at what - $8000 or so?) but it will possibly have way less eye appeal than a coin such as mine.

And isn't a VF graded coin with all it's wear sort of 'damaged' as well in that the surfaces have been worn smooth by lots of handling. I guess folks define 'damage' as intentionally inflicted wounds as opposed to the kind that happens unintentionally over time with handling? In terms of attractiveness there could be a gray area between the two.

 

My client base typically demands certain things in their purchases and this trait is largely a result of my own preference in coinage such that I have a group of generally likeminded folks who buy from me and sell to me. Your coin, as ex-jewelry, is still valuable and quite desirable within the larger market, but it is not the type of coin I would want to handle or purchase. Similarly, I would not want to place this coin with a client. This doesn't mean the coin is worthless, it just isn't in my niche. Therefore, I would not suggest to a client of mine to purchase this coin.

 

Fair enough.