Hello all, As some may have seen, I recently started a Dansco Type set. The coin here is my first truly new purchase for the album (the other coins I already had from prior years of collecting). I would like to hear some opinions of the grade. I know there are some issues (like the rim cut under the 1 in the date), but pretend you are using the Anacs way of assigning a numerical grade with the issue (i.e. F15 Details - Cleaned). Also, if you want, put a value on the coin. Let's see how close the seller grade was and if I overpaid or not. The photo below is from the seller and is a good representation of the coin.
Tough one. I see a good amount of luster still present. I would wager it as a XF-45 Details damaged and cleaned.
I'm going with XF40 details, cleaned and damaged. Hope you got it for a good price! Cool die cracks! Value? $100 or so IMO.
I also think this is a XF40 Details with Cleaning and Damage. Heritage has sold not Damage or Cleaned this year VF25 PCGS @ $109 Retail with premiums. If I needed this coin it would be worth $80-$100 to me.
I think my ceiling on it would be around $120.00. That's because of the detail still there, the luster that is still present and the very nice die cracks that add visual interest.
The seller had this listed at AU details (cleaned and rim damage). I think the details are stronger than some of the XF graded examples that I have seen. I think at a price of $64 it was a fair deal and agree with the ones who said that the value would be in the $90-$120 range.
I think AU is optimistic. I agree with those who've said EF details, cleaned and damaged (if you really want a number, its a 45). I think at $64 you paid a fair price. $100 is rather optimistic. I wouldn't have bought this piece myself, but if you are happy with it then good for you, I guess. I'm not sure what your goals are for your new set, but I personally would recommend against buying problem pieces like this. Problem pieces are unattractive, and you see how many people here wouldn't even make an offer on it.... it will be really hard to sell when the time comes. I would recommend buying a lower grade, attractive, original piece over a higher details problem coin. You could probably find a nice VF for nearly the same price. Again, that's just my recommendation and you can do what you want with it.
In today's market, problem coins are not favored by many. If your collection is displaying die cracks this one would fit.
The goal for my set is to get the most detail in each coin for the best price. I would opt for a lower grade with fewer issues if the price was comparable. However, recent sales on ebay had true VF examples go for more than what I paid for this coin. An NGC VF 35 went for $116.50 and several PCGS F15 examples went for about $70. Multiple raw very fine examples have sold for over $80. So, I thought that for the amount of detail that this coin provided, the price was quite fair. If I could buy a problem free VF for $60-$65, I might have done that. At $80 or above, it just didn't seem like the best option. Also, it seems like the opinions here were close to 50/50. Half wouldn't offer anything, but the other half would be at $80-$120. So there certainly seems to be a market for examples like this. From personal experiences, I'd say this 50/50 ratio applies to pretty much any coin. I've had plenty of problem-free toned Morgans that half the people at a coin show weren't interested in making an offer. I've had people not want to make an offer on CAC approved Seated Liberty Quarters. It's all relative to what someone collects and/or thinks they can make money from.
Unless you are GSC or one of their many loyal buyers; then problem coins sell for more than straight graded examples!
That's how my type set works. I buy the most amount of detail I can afford, though I try to stay away from cleaned coins. Holes, scratches, rim dings, etc. are all fine. I find them less insidious. But $64 is a fair price. You could not go wrong with it.
Preferably I would avoid cleaned examples, but I have seen plenty of cleaned coins that don't look too bad. In my type set, if the coin has problems, I would put holes and scratches as the ones to avoid. Heavily polished and whizzed are also issues that I would mostly avoid. Cleaned, rim dings, machine damage, environmental damage (depending on severity), and questionable color are issues that I can mostly tolerate.
