Purchasing a damaged coin, would you???

If the price is fair given the damage, and you like the coin, I see nothing wrong with it.

More often than not, however, I find my eyes drawn to the damage first and I end up regretting it.

 

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I recently got a super nice 1926 Sesquintennial gold $5 coin from a seller on ebay who's seling her coin collection her grandpa left her one coin at a time. Well, I won two coins during that auction and she staiples the 2x2 flips with coin inside and didn't mash her staples flat with pliars. To make a long story short, the coins arrived and the staples had put a Huge ( but not too deep scratch from teh I on LIBerty across Liberty's legs and almost back to the coins edge in a half moon shape. I almost cried as this coin was going to grade a 64 or 65 at least! She is giviing me a good portion of my money back from that coin, but it still hurt for a coin that nice to get hurt so bad by someone's lack of coin pacaging protocol. Oh well,if I biuy more from her, they'll be shipped singly from here on out! Good night folks! *poof*

 

IMHO, if you wnat the coin with a little damage, and you know what your buying, then go for it. We are collectors, and while I have no problem with people selling or trading, as I do it myself on occassion, I am a collector!!! If it works for me to buy a slightly damaged coin, so be it. I have this coin...



And after posting the pics on my forum, I got positive feedback, except for a comment on the little scratch next to the 8 and above the "E". I was a bit put out that someone would criticize so small a thing. It's like the reference I made on another posting, with regard to stamp collecting. Some stamp collectors only collect stamps that are unhinged (weren't stuck to anything for the uninitiated), as if the back of the stamp is more important then the portrait. What's the point? Because it decreases the value? I'm not doing this to make money, but to enjoy my hobby.

Okay...end of rant...:hatch:

 

I think the only person that should worry about the coin is you. If you like it and "need/want" it then go for it. Unless you are trying to please someone else, who cares but you. I say if you like it good buy!

 

I really don't care as long as the price is right. Chances are, most of the holed coins that I have are so scarce that when I do find an undamaged coin in a similar grade, the price tag is close to 10 times to what I paid for, if not, a lot more.

 

Oh did I say I bought this for a dollar?



An undamaged sample in a similar grade will cost at least 200+USD (likely to be more), thanks to the mad Russian market. I can't care less.

 

It depends on the coin and the budget. The 1785 Large cent I just brought ha a damaged rim. I'll take an artifact with damage in my budget.

Ruben

 

THATS WHAT I'M TALKIN' 'BOUT! Lol. Good job! Howabout this one, for 15 or so dollars.

Redbook puts this coin, in F, at 425. That's a bit low, in my opinion.


US-Philippines 1918 S Five Centavo Mule (with 20 centavo obverse, small date)

 

"Damage" is just another form of wear. It means that some TPGs won't slab it, but it doesn't mean a coin is valueless or uncollectible. If future opinions regarding "damage" change, it could also turn into a bargain purchase.

 

I have several damaged coins in my collection, and while I never paid full retail for them, I love them as specimens I was able to get that show their history, holed or love tokens, scratched or etc. There is nothing wrong with any of them for the right price

 

Just get out a Dremel or bench grinder and smooth out that mark. :goofer:
Add similar marks on other places and it will look like part of the design.
Don't worry about it. It is your coin and just how many people will see that anyway. If you got it for decent price, why not. You can always improve later and if not, so what. Like I said it's your coin. I don't think your going to display the reverse anyway so it will not even be remembered. A long time ago I used to acquire just about anything to fill slots in Albums. Eventually by constantly improving over the years many Albums are almost completely MS. Takes time, but so what. Be proud of that coin, it's yours.
Funny story about damaged coins. At a coin show a week ago I purchased a 1995 Lincoln Cent Double Die MS-65 or so for $10. Reason was it had a few finger prints clearly on the obverse. With nothing to loose I emersed it in Acetone, then distilled water, then Tarn-X, then distilled water, and finally in a jewlery cleaner from Walmart. POOOOOF. No more finger prints.
The moral of the story is buy what YOU want.

 

Here's another example. Obviously I saw the hole in the coin, but I needed this country for my collection, and I got it for a heck of a lot cheaper. It's still a nice specimen, and as I've stated previously, "I ain't doin this to git rich". Still it is unfortunate that someone did this to a real nice coin.:headbang:

 

I was thinking about this thread into work and I decided that this question is really more idiotic than it seems, and this is not a knock on you Bones, but an observation on how we get ourselves so confused over principles and completely fail to see truth.

You find a 1943 copper US Cent that has been cleaned? Is it valueless? Throw it back into circulation then and forget about it.

How about a 1775 Fugio with a dent. Sure, spend it on some penny gum.

Damaged coins can have every bit the value of any other rare and desirable object. The grading system is designed for a narrow window of coins and collecting opportunities. Go and collect Byzantine coins and see how many MS 63's you find. And how about those love tokens. Those are GREAT.

"Damage" is not equal to "without value"

Ruben