Problem coins can still bring good money at auction.

Over the past year, I have sent a lot of problem coins to PCGS. By doing this I was able to send them to auction and be done with the coin.

With almost every coin, I was able to make back the grading fees and my original cost, plus a nice profit on some. I never planned on that happening. Variety coins did really well. I'm sure many buy these to put in albums. The slab gives folks an honest opinion of the coin and they know what they are buying.

ICG was also helpful with conservation and showing any problems on the slab label. They also sold for fair prices.

The exception to all this were ugly problem coins. They still sold at a lower price and I was done with the coins.

 

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You’re good at grading and have an obvious interest as well as talent. Me … not great at grading. Mostly buy certified coins. I have favorite series (mostly determined by beauty and history) and buy what appeals if the price is reasonable and in my range. Fundamentally, I have little interest in the finer points of grading which is why I leave it to those who do.

Cal

 

Larry - I think the biggest question I'd have for you is: How long have you held these coins?

I know you've been collecting for longer than I've been alive. If you bought a problem coin in the 80's and got it graded and sold today, of course you're going to do alright.

But to give advice to people buying today - I absolutely do not recommend buying problem coins unless you plan on holding for 40 years like Larry has.

 

Or if you want to affordably own the coins you always dreamed of owning:

AU Tooled Reverse (grime scraped from between bars)




VF - Graffiti on eagles chest

AU - Spot Removed



Fine - Damaged Rim (3 Cent pattern)

 

I agree. I,m sure there are many older collectors out there with raw problem coins they bought many years ago. Maybe this thread helped a few.