I am an amateur coin collector who has been collecting coins since the 1960's. A number of my coins have minor (or even major) imperfections. My experience is that dealers will knock a few dollars off of such coins. But then, I find coin collectors on coin forums who wouldn't touch such coins. I guess the question is this: How do you place a value on lower grade coins that have small nicks, small scratches, slight discoloration, slight corrosion, and the like?
Every collector has their own idea of what they like and don't like and what they are willing to pay. Whereas, a dealer has to think in terms of a broad base of collectors to generate business, some of whom, may like or dislike particular coins. Chris
A person that collects coins or anything else has their idiosyncrasies in their collection. Some people only collect midstate coins while others collect the lowest value coin they can find. Others try to collect one type of each coin ever made. Still other collectors try to assemble a complete collection of every coin made for that series. Then you have variety collectors, they want every room known variety. In other words it's your collection collect what you like. Do not try to build your collection based on what others tell you is best for you. As for trying to place a value on coins that have imperfections, the best you can do is come as close to the grade of that coin is possible, determine an average sold price and then you would just have to deduct a reasonable amount for the damage. A corroded coin is going to lower the value more than a coin that has some nicks. If you have a local coin shop or there are coin shows in your area I would suggest that you frequent them more often. Talk to dealers, talk to other collectors, if there's a local point club start attending their meetings. These are all valuable sources of information that can help you learn about coins and the proper way to value them. Do not repeat do not watch YouTube videos they are full of misinformation and will lead you in the wrong direction.
As already explained, there is no simple, straightforward answer. This is because things are way too complicated, too many variables, too much to consider. About the closest to a rule of thumb that I have ever been able to come with is this - value of any problem coin, in any grade, will be anywhere from 20-80% less than a problem free example would be. To help understand that, try considering this. With any problem free coin, in any grade, take any group of them all the same coin, all the same grade and all graded by the same TPG - and values for each can vary by as much as 100%, and possibly more. In other words, any single example will be worth as much as twice as much as any of the others. And few, if any, will be worth the same amount. And that is 100% true. So, if such a thing is true of problem free coins, just imagine how complicated it gets for problem coins.
@centsdimes .... I been collecting since the 1960’s. For thirty years I was entirely unaware of the concept of “damaged” coins. Granted, these days I can occasionally have my head turned by a pristine high grade coin like the one in my avatar. Thing is, I hold history in my hands when I hold my coins whether they are damaged or not. I own a very early half eagle with a big “X” scratched in the field. I bought that coin for melt and I love it..... Here’s my advice. Do not be swayed by what another persons view of a coin is. If you like the coin and the price is fair to you. Then by all means, enjoy that coin. That’s why coin collecting is so great. You can’t do it wrong.
I guess that depdends on what you consider an "imperfection." There is also a debate on what is considered "Damage." For example, to me a fingerprint on a coin is an imperfection and damaged. To some, fingerprints aren't a concern at all. But I hate them. I am also a very serious error coin collector. I actually look for imperfections, and those who want a "perfect" coin and hate error coins consider my coins as "damaged." For example, even though this coin has physical damage to it, the manner in which it was damaged matters in terms of its appeal to error collectors. So, is this coin "damaged?" However, even some forms of damage done at the Mint are undesirable. For example, reeding contact marks (or what some call bag marks) are a big turn off, especially to me, and I don't want them So, it is really you who has to determine what you are willing to accept in terms of marks, dings, and scratches, and also what you define as "Damage." ~Joe Cronin
Not in my opinion. What you see in that coin was caused by an error during the minting process and that error is increased because of the zinc used to Mint a coin instead of using a real metal that can take the striking pressure.
It depends on the coin and the problem we’re talking about. Is it a $15 Lincoln cent or a $1500 gold coin? Does the coin only have a couple of hairlines or an ugly fingerprint? Big difference. Personally I mostly look at the color and eye appeal of a coin. A couple of hairlines, even smaller scratches won’t bother me as long as the coin got a straight grade. A fingerprint however is a big turnoff. I don’t want any coins with fingerprints in my collection.
I always felt the same way. And I do understand what you're saying. That said, I've never seen a coin that was relegated to problem coin status solely because of a fingerprint - they all get straight grades. Which means fingerprints do not make coins problem coins. And that's what were talking about here - problem coins.
