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<p>[QUOTE=&quot;bhp3rd, post: 582058, member: 16510&quot;]<b>Damaged coins, new thread for all.&nbsp; This includes problem coins also - same thing!!</b></p><p>&nbsp;</p><p><u>What I wanted to do here is sort of explain my learning process on how much a coin is affected by a problem - these things it took me several years to fully understand because no body really set me down and told me.</u></p><p>&nbsp;</p><p>So here goes IMO - a problem coin never looses it&#039;s problem.&nbsp; It will always be there no matter what.&nbsp; Every person who owns or inspects that coin will find it&#039;s problem.</p><p>If the problem is in a prime focal point of and otherwise nice AU or mint state coin the market grade can drop to Fine 15, yes I said Fine 15.</p><p>Why because no body will want it (after learning it&#039;s problem) and it will be passed along to the next person who will be willing to take a bath on it.</p><p>Early on I did not look at coins closely enough - I thought I was but it was only till later, sometimes many days or weeks later that I saw the problem and then realised the damage in terms of market value.</p><p>Problem coins are everywhere.&nbsp; You cannot sling a cat without hitting a few.&nbsp; Why, because everyone want to pass it along and get rid of it.</p><p>Problem coin grades most affected are XF-40 thru AU-58.&nbsp; These are the easiest to pass on because people see the technical grade and it&#039;s potential bargain and become blinded by &quot;getting something for a good price&quot;.</p><p>Spotting a problem coin and the ability to &quot;pass&quot; on it is an acquired technique - all folks will be seduced by the apparent bargain and get a problem coin - it&#039;s part of the learning curve or a fact of life.</p><p>A rim ding is murder!!&nbsp; Plain and simple except for a huge scratch or harsh cleaning, nothing effects a problem coin more.</p><p>There are many problem coins.&nbsp; Nice original coins are harder than you may now know.&nbsp; It&#039;s human nature to overlook a problem coin -we all want a bargain but a problem coin is never a bargain or as Rick Snow so accurately explains, &quot;there is no price too small for a problem coin&quot;!</p><p>&nbsp;</p><p><i>There is a few exceptions that do warrent acquiring a problem coin.</i></p><p><i>1. The coin is so rare you are realistically never going to get a shot at that coin again or the coin often come with problems.&nbsp; This is early 1790&#039;s type coins to early 1800&#039;s coins.</i></p><p><i>2. Territorial Gold or private patterns.</i></p><p><i>3. Coin needed for a set that you just want to complete no matter what.</i></p><p>&nbsp;</p><p>I really feel this is very valuable information for all coin people but especially for the new people on the site - I hope it helps you&#039;all! </p><p>Finally, this is my opinion and experience so it is subject to change and your comments are welcome and I fully expect not all will agree completely with all I have said.[/QUOTE]</p><p><br /></p>

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