1857 flying eagle cent with reverse lamination????

Hey guys here is a pic of my 1857 flying eagle. I saw a previous post where another member had the same chunk missing on the exact same area of the reverse. It had been suggested that it could possibly be a lamination. I would greatly appreciate any opinions of this coin and where you think it should be graded. I feel like it's a VF 20 give or take. But, with the issue on the reverse, I have no idea how to grade this coin.

Here is the previous members post with the same type of coin/damage.

https://www.cointalk.com/threads/1857-flying-eagle-cent-with-error.10799/#post-88159

 

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Slightly better pics....

 

Looking at the other one in the old thread, i don't see them as the same thing. The one in the older thread seems like a planchet flaw to me based on the fact that the obverse has weaknesses directly opposite of where the chunk is missing on the reverse. This points to the metal missing before striking. I didn't read the thread to see what the consensus was on that coin, but this is my own observation simply based on knowing the minting process. For yours, I'm a little stumped. It doesn't show remnants of it, but this looks more like corrosion to me at first glance. Is your coin in a medal alignment by chance; as in are both sides of the coin in the same position as opposed to being opposite of each other like modern coins?

 

The two sides are opposite of each other like modern coins. And, to be honest I highly doubt corrosion because it doesn't look like corroded metal. It just looks like a piece is missing. The idea of the planchet being damaged before being punched is interesting but why would the edge around the coin be totally fine. Wouldn't it be fair to say the the rim would be affected?

Not that it matters but I bought this coin in 1988 for $8. So I've had it for a while and I'm attached to it. I've never been able to find an explanation for it. I stumbled onto this site very recently and I thought I'd ask after I saw a member with a "damaged" 1857.

Would you send this coin to be graded by pcgs? Is there any reason to think this coin is special besides it being a flying eagle?

 

Is pcgs the best grading service?

 

They and their Kool-aid drinkers seem to think so. This one isn't a complicated one. Get it in any of this plastic, attributed: ICG, PCGS, ANACS, NGC.

 

Pcgs or ngc are considered the top tier services. Typically pcgs will bring slightly higher prices because the market seems to think they are the better service. The truth is they are both very good services.

There are other services that aren't bad (Anacs and icg) but both are generally considered inferior. Both tend to overgrade coins and are not as respected in the market.

Any other services are to be avoided. I personally think submitting to Anacs or icg are a waste of money.

 

What do you guys make of the reverse, lamination or corrosion? I don't want to steer him wrong, but if this is corrosion, the cost of grading would be more than the coin is worth.

 

@Salspi Your coin has a detached lamination. The one in the link looks like a struck thru.

 

Thanks for taking the time to look at my flying eagle. Does a detached lamination ruin a coins value, add to it or neither? Is this coin worthy of sending off to be graded?

 

It is a fairly major error; however, it will probably be harder to find someone who would buy your coin than if it did not have the lamination. So to answer your specific question, the value of your coin is probably lowered. Yet, if the right buyer comes along, they would pay more money for your coin than if it were normal. How is that for a non-answer?

 

I think your answer is perfect. I'd also say (sorta what you said) that such a coin has a much smaller buyer base.

 

Haha- that's a great answer! I realize that you really know what your talking about with that answer.

To be honest, I bought this coin when I was 16 cuz I thought it was super cool. I've had it for 28 years. I highly doubt anyone would pay me more than the sentimental value I have for it. I wouldn't expect they would either. I might as well send it off to get it graded and slabbed. The coin itself obviously isn't a great specimen.

Would the grading service lower the coin grade due to the lamination or do they just grade the rest of the coin?

 

PCGS would say "93" Planchet flaw. I believe this could go your way, if you chose to have it graded.

 

Do you like it with or without? You answer that, you answered 90% of your question, as that much of this hobby is nothing more intellectual than that, eye appeal. Other 10% is eye appeal.

 

So, this would not be a coin that pcgs would grade, correct?

 

It will get slabbed with Planchet flaw written on the label, This is what I have read as I have never had a coin slabbed personally.

 

That doesn't sound like something I'd want to pay for.

 

You'd pay them if they ignored the darn thing? You weren't thinking they'd do that, were you?

 

I don't think they would totally ignore it. If They look at it and not grade it after deciding it's a planchet flaw, I don't see the point of sending it out and paying them for it.