Would you buy or pass?

Discussion in 'US Coins Forum' started by Speedy, May 27, 2005.

  1. Speedy

    Speedy Researching Coins Supporter

    Hey Y'all

    I have a question for ya'll

    Say you find a coin slabbed by ANACS that is graded PF50 CLEANED...now this coin is in the late 1800's and is a Seated Liberty Dime...would you buy it just in case you would never see one again that was the right price...would you make a counter offer...or would you run the other way??

    It looks nice...stills has the PF detail and the back is in great shape...it looks like they only cleaned the OBV...the back has a little CAMEO and is NICE...the OBV looks cleaned...is toning a little (both sides are but you see it more on this side) and you can see some hairlines...

    Is they the type of coins I'd be likely to see again at a good price or is this a one time only?

    Speedy

    PS--the mintage is a little over 800.
     
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  3. Midas

    Midas Coin Hoarder

    I have been introduced to coins like this. Only _____ minted and it is old and rare. Sure it was cleaned...but that happened a "long" time ago.

    Everytime I bought a cleaned coined, the first thing out of another collector's lips was, "Nice coin...too bad it was cleaned". Soooooo, I pretty much avoid cleaned, dipped, and questioned coins altogether.

    Now if you want it bad enough, I am sure you can justify it. But remember what is going to be the first reaction to your coin. It will be something like this, if the same could be said about your home:

    "Nice house, too bad there's a crack in th foundation, but other than that, nice house."
     
  4. miker

    miker New Member

    My personal feeling is that I would rather have a coin in a lesser grade than one that had been cleaned. Just me, I guess. Cleaning a coin, to me, is almost as bad as those 'layered 7 times in 24 carat gold' coins. It just takes too much away from the coin and I would take a lesser grade.
     
  5. OldDan

    OldDan 共和党

    I personally would not walk, but run away from this coin.

    BUT.......

    It's your set to do with as you please, and if you'r willing to settle for a coiin in this condition, so be it! The decision is yours.
     
  6. satootoko

    satootoko Retired

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  7. SuperDave

    SuperDave Free the Cartwheels!

    Absolutely buy it, assuming you like the price. There are only a maximum of 800 people, anywhere, who can ever have one. Even if you're not a Seated Liberty specialist, there's plenty of suck....um, collectors on Ebay who think they are.

    I would buy if it were around $100, but then again I'm one of those fools who purchase based on the value to me, rather than some Greysheet.
     
  8. GDJMSP

    GDJMSP Numismatist Moderator

    I'd pass. Even with a low mintage they're not that hard to find.
     
  9. rick

    rick Coin Collector

    I'd pass on it speedy - mostly because, from your post, I think you would always see it as flawed, and it would detract from your enjoyment of it... instead of thinking of it as a good purchase, you would doubt it until you convinced yourself you made a mistake.
     
  10. cdb1950

    cdb1950 Senior Member

    There are some people that are quite content to collect problem coins at super bargain prices, but it doesn't sound like you are one of them. Give it a pass and save your money for something you'd be proud to show off.
     
  11. cdcda

    cdcda New Member

    Assuming you are simply looking for a proof seated liberty dime, I would recommend that you pass - unless the price is just too ridiculous to pass on of course. Although the mintage numbers for the Seated Liberty Dimes are low, there are quite a few of them out there and unless you are looking at acquiring a complete set (which I doubt is the case) then I would look one of the common proof dates in a low grade. Bear in mind, rarity alone does not drive pricing or demand - there are not a ton of collectors out their actively acquiring these pieces.
     
  12. Speedy

    Speedy Researching Coins Supporter

    Thanks guys--I think I'm going to pass...I liked the date for one reason...and the coin was nice but I think I'll wait and try to find a better one...if there were 800+ minted maybe I'll be one to find another one!!

    Thanks again

    Speedy
     
  13. Speedy

    Speedy Researching Coins Supporter

    I've been thinking about this and think I lost my head yesterday....

    I know I don't like cleaned coins...I guess with the price a little over $100 and the date being 100 years before I was born just got me...

    Now I think I'll have to start looking for one of these...first I think I better start to save my mowing money!!

    This year something about older proof coins just jumped out and got me...I don't know what it is...it just has me and it won't let go!!!!

    thanks again for seting me right!!

    Speedy
     
  14. cdcda

    cdcda New Member

    Speedy, just remember, its your collection not ours. If you like the coin, and it has a meaning to you personally, than pick it up and let it be the start of your early proof coinage set. I agree, there is something about those early Seated Proof issues, I still remember the first time I picked up a proof half! It was a circulated example but still had what could only be described as awesome surfaces. It is one of those coins that I really wish I had never sold!!!

    Remember, there is no "right" when it comes to collecting.
     
  15. Conder101

    Conder101 Numismatist

    Sure I would buy it if I wanted it and the price was right. Everything has a value. Most people don't like coins with holes, but what would you do if somone offered you genuine Brasher Doubloon with a hole in it for $1000? Pass because it has a hole?
     
  16. Speedy

    Speedy Researching Coins Supporter

    Thanks guys...I still don't know for sure but think I'm staying with not buying it.

    Speedy
     
  17. Speedy

    Speedy Researching Coins Supporter

    Conder101

    Well...I wouldn't pass but my pocket book would!!....maybe if I could find 10 other guys to go in with me I would buy it!!! J/K

    Speedy
     
  18. Cloudsweeper99

    Cloudsweeper99 Treasure Hunter

    The objection of hobbyists to buy a truly rare but cleaned coin may be an indication that it should be purchased as long as the cleaning hasn't severely damaged the coin. This sort of coin may be more appreciated by a future generation of collectors even if it isn't by the present generation. Many old paintings are routinely cleaned and/or restored without hurting their value. Someday, rare cleaned coins may command only a small discount to the uncleaned coins. This is only a guess and maybe cleaned coins will be perpetually scorned regardless of scarcity. But it makes cleaned coins a bargain. A coin in a lower grade will never become high grade. But a rare cleaned coin only requires a change in perception to become more highly prized someday. But this isn only an amateur's opinion.
     
  19. Speedy

    Speedy Researching Coins Supporter

    Cloudsweeper99

    Well...this cleaning has done a great job on the Obv...the guy says the back would grade PF64CAMEO (I think he is being a little too high on the grade) but someone just rubbed and rubbed the Obv till the only way you can tell its a proof is the strong strike and the little bit of CAMEO left.

    This last year I have been trying to better coins for my collection even if it means not buying as many coins...this has been nice as I have been able to buy many coins I never thought I would be able too...I also have gotten a few sets filled.

    I know many collectors that would buy a cleaned coin to fill a hole or just to have a rare coin but I want my collection to be better--even if nobody else thinks its great I will like it as I have looked and searched for one piece and then to add it to my collection it just makes me feel great.

    Thanks for your thoughts...they are well taken

    Speedy
     
  20. tradernick

    tradernick Coin Hoarder

    I have a cleaned proof barber quarter that I bought thinking it would be a quick sale...I've owned it for months :(
    Usually my inventory flips every few days. Just goes to prove (yet again) that problem coins are tough to move, even those that are genuinely rare.
    Nick
     
  21. Speedy

    Speedy Researching Coins Supporter

    That is what I have been seeing Nick...when I go to sell my problem coins they are harder to sell---now not all of these coins have been cleaned...some have large nicks some have finger prints on them but to me they aren't part of my collection...Sometimes I take a loss and sometimes I take even!

    Speedy
     
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