I'm looking into buying this coin, but it has environmental damage. I'm fine with that, but I wanna make sure I'm getting a good deal. The damage looks pretty mild (to me), but I wanted to see what yall think it's worth (considering the damage).
It's tough to put a value on something like this. Without the damage, it's about a $350 coin. The way it is, I'll guess it's worth $200 to $250. Some would not pay that and others might pay more.
Look at the XF-40 catalog value then divide that in half. After that subtract the S&H. IMO that's your max bid. But remember, if you buy a coin with a problem you'll always have a coin with a problem.
I would pass and wait patiently for one that would grade. This is a damaged coin and ED grows worse in time. This will always be a problem coin. Welcome to CT.
Given the choice of this coin, I would choose a choice, no problem VF (possibly raw) or better of this very common variety.
By environmental damage, do they mean the corrosion around the "OF" on the reverse side? On the obverse, I don't see any corrosion. Is there corrosion on the obverse side too?
There seems to be a cottage industry on eBay of people who buy "details" coins, crack them out, then resell at a profit. The new owner submits, is disappointed, and the cycle begins again. I think those people set the going price for such coins.
I agree with the "if you buy a problem coin then you have two problems" camp. Save a little more money for a nicer specimen. I'm guessing that the resale value on anything marked as "problem" is dicey.
Thanks! Hey, when I figure out how to send you a message, may I send you photos of 2 graded Half Cents from my Hand-Me-Down collection? Both are grade AU - Details but both holders read Environmental Damage. I've always wondered where the damage was for each one. Only if you don't mind... Both are 1832 Half Cents and the TPG is NGC.
With early copper, it is often just fine to collect coins with some damage; some are too rare to collect any other way. These were the money of the people, they were heavy and soft, and they circulated a lot. However, this particular coin is a very common variety by half cent standards, so I wouldn't recommend that you buy it. An undamaged coin in F-VF would be a better buy, and you'd be happier with it in the long run.
Thanks. I need to take photos first. Maybe a second pair of eyes will help. I just couldn't really see where the damage is. Thanks again.