Putting a price on ignorance - Opinion request

Paid $170 for this 1849-O SLH three years ago. While giving it an acetone rinse it fell creating the dingers that are plainly seen. How much did this butter-finger moment cost me?

 

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The 'dingers' by the eagles beak or her face on the obverse?

Either way, did you drop it off the Empire State Building? Those are some major 'dingers' for dropping it off a table.

 

Exactly what I was thinking. Never seen that much damage from the table to the ground.

 

the answer:

 

It's also been cleaned

 

Thats ashame as its a pretty decent date and mm. And has quite a few varieties that would add value.

 

Not wanting to stink up the house the operation was performed in the garage, that has a rough concrete floor.

 

Unfortunately true. Uncleaned examples are hard to find. Many are worse than this.

 

Yes in seated and bust coinage I venture to say 80 %+/- has at one time been messed with.I play hell with half dimes as most sat in albums for decades and terminal toned black.
I do agree also finding seated series coins that havent been cleaned is scarce or high dollar.
To each their own...and what they can live with as far as a detail specimen goes....right now a 1846 or 1853 no arrow half dime even in details are moon money!

 

So you're saying you didn't actually drop it on the garage floor, you threw it on the garage floor with a trebuchet?

 

Sad results. Damaged or not, it is still a nice example of that series.

 

It is a nice coin, but, it was damaged long before you did anything. It had a harsh cleaning a long time ago. Your dip just made the cleaning look a bit more obvious.

 

As mentioned by others, there is no way a simple drop from human height onto any surface could have caused those marks. If you didn't notice them before the acetone bath, it is very possible that they were puttied over and the acetone removed the putty.

 

Very much sympathize with your situation.

OK, let's take a stab at answering your question without me having to do a bunch of EBay research. I'm just using Greysheet as a reference for the discussion. I realize other pricing guides could be used and that pricing guides are not of much value in today's hyper-inflated coin markets. But how much was lost depends upon where you start from. Below is looking at it from two aspects: 1) This raw coin was slabbed straight graded, and; 2) This raw coin was slabbed in a details grade.

The coin has around XF-40 sharpness. Today's Greysheet as a reference says that's a $285 coin if straight-graded.
The dings accumulated from the drop test would move the coin into a details grade. I estimate moving from straight grade to details would knock off 40% to 60% of the value for a damaged coin so call it 50%.
So, your loss from current market wholesale due to the drop is $285 X 0.5 = $142.50.
If evaluated from your purchase price of $170, your loss is $170 - 142.50 = $27.50

Coin, however, is moderately hair-lined from a previous cleaning which means it possibly would have gone in a Details holder prior to it being dropped.
So, pre-drop, this coin in a details cleaned holder was worth about 60% of Greysheet or $171.
Post-drop, the dings wouldn't make a difference to grade - it would still be in a details holder. BUT, the damage from the drop would make the coin even less marketable so as a guess, I'd estimate the current wholesale market value is about 40% of Greysheet or $114.
So, your loss from current market wholesale due to the drop is $171 - 114 = $57.00.
If evaluated from your purchase price of $170, your loss is $170 - 114 = $56

 

That certainly is a well thought out response, which I truly appreciate and thank you. Now, if only the tax authorities would accept your response when I file for a loss...

 

I would feel much better if the damage had been due to someone else. But rest assured this is not the case. The concrete floor in question is not of the smooth variety one would find in most garages. It is very rough. This is for a purpose, in that during the winter this walking surface gives traction when the bottoms of one’s boots are icy.

 

Lol.

 

I agree that it was a details coin before you dropped it.
Those 3 large gouges on the head, those deep gouges on the reverse, and the cleaning scratches. If it was not a details coin then it's a good price. If it is details,
then it's not.

 

Wow nice break down ...and I too appreciate all your input on the subject.
Again at the end of the day ....its a personal choice....and again as Publius2 knows show me a 1846 or 1853 o no arrow half dime....hens teeth...and a premium price from details to xf+. I haven't ever seen one of the two dates in MS.