Would you buy a coin with this damage for a type set?

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Oops, should sow up below somewhere below

 

I've got a big ol' soft spot in my heart for misfit coins, but that one's a little too far gone even for me, I think.

 

I might be misunderstanding what you said and if so I apologize and you are free to correct me but..

I don’t think minor problems have too much of an effect on price but the OP one has a hole in it and some dents in it which I would consider a moderate-major problem.

I would consider this DBD of mine (below) to be a minor problem coin.

The coin has a vertical hairline scratch down the bust on the obverse and the reverse was cleaned a long time ago so the obverse toning doesn’t match the reverse but it’s a minor problem in the sense that it doesn’t really affect price that much. It does a little bit though.

 

Thanks for the opportunity to clarify:

1. Minor Issues acceptable for the grade.
...no negative effect on price, though coins without such issues get stars, stickers and premiums.

2. Minor Issues not acceptable for the grade causing detail or authentic notation by TPGs, though not severely adverse to the aesthetics. This can reduce value by up to 50% which is what I was referencing. The novice thinks 10-20% for this or even severe issues is appropriate. One problem is all categories from 2-4 receive the same Details or Authentic designation equivalent to not insurable.

3. Moderate Issues include light corrosion, cleaning, discoloration and minor damage.

4. Major Issues include severe corrosion, ugly tooling, engraving, holing, stamping, bending, etc.

5. The last category is a catchall for suspect or known counterfeit and other issues which cause it to be body bagged and these come in all conditions.

The OPs coin definitely falls into the category 4, even with better detail.

 

Yes I would, but not for more than about $300. Much more than that and I would look for a lower grade coin with less or no problems.

 

It's interesting how at times the grading companies let things slide and other times they don't. The 1799 dollar is a nice coin the scratch is very light. As far as being cleaned I'm not surprised because of it's age. I have a 1796 dollar that was details graded as VF cleaned. The thing is that my 1796 looks more original than the 1799 in the picture. I wasn't surprised when it came back from NGC as cleaned but, based on the overall condition of the coin it won't affect the value that much. Yes it will hurt it a little but, I can live with it. I'm attaching a picture of my 1795 dollar that was details graded because it had a hole repaired. This coin looks better than most straight graded coins. I have posted this coin before so some may have seen it before. The hole was located in the T in Liberty.

 

Thanks! Yeah I was saying that the problems with mine like the light scratch and old cleaning are still considered problem coins but because they are so minor it doesn’t knock 80% off the price tag like with major problem coins such as the OP coin with holes and dents and all kinds of damage. Coins like that take a huge price hit.

As for the cleaning I’ve been told that NGC doesn’t put “cleaned” if the cleaning is really old and isn’t done to try to deceive by making the coin look better than it is.

I imagine even when these coins were in circulation they were cleaned. People worked dirty jobs and what do you do when you get a really dirty coin? You wipe it off. Especially a dollar which was a significant sum of money.

Kind of like how today if someone hands you a really wrinkled $20 bill it’s almost instinctual to smooth it out. I’ve done it many times.

Nice 1795! I do like it and the plug is definitely not noticeable at all. I hope to get one myself some day but the prices are just so high for decent examples even in a grade like F12.

 

Nah. Your not gonna like it when you get it

 

With the 18th c. stuff for us average collectors you have to balance out technical grade vs. problems and the overall cost. My 1795 OC bust dollar is straight graded but I'm pretty sure had a light dip and some very localized cleaning. 1865King's dollar is beautiful and I can't even see the repair.
The coin that started this thread has that huge, almost central punch mark that for me makes it unsuitable as a type coin. If on a tight budget I could probably tolerate the other marks but not the major shot to the center.

 

Not even half a chance for a type set coin!

 

What's interesting is how they determine a coin has been cleaned. My 1796 as far as being cleaned it's not cleaned in a way that you can really tell. Most guys would have no problem with it. No damage or marks just regular wear. I would call it a soap and water cleaning. That's when you soap up your hands and then soap up the coin and rinse it off. If done right you only remove surface dirt. The coin may lighten a little but, it will tone back fairly fast. A few years ago I put a large cent in my pocket with nothing else in that pocket. The cent was a common date in extra fine. Within a few days all the high points showed the red of copper. That was straight pocket wear. Was it cleaned NO. Would it slab as cleaned probably but, it wasn't cleaned. Normal pocket wear nothing more.