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<p>[QUOTE=&quot;Leadfoot, post: 142675, member: 2972&quot;]Valuation is, in the end, a personal thing.&nbsp; To make a wishy-washy statement even further, it really depends on just how bad the corrosion is.&nbsp; Sometimes it can decrease the value by a factor of ten, other times it is only a 20% discount, sometimes it is &quot;market graded&quot; into the grade of the coin, and other times it is completely overlooked.</p><p><br /></p><p>Personally, I don&#039;t like corrosion for my more expensive coins.&nbsp; Having corrosion on a coin that costs $10 or $20 is one thing, but for $400, I would sure want a coin without corrosion problems, except if they were very light and/or confined to the reverse, and even then the coin would have to be remarkable in other ways (perhaps very rare).&nbsp; I think you did well to pass on it, as a problem coin will always be a problem.</p><p><br /></p><p>If you are inexperienced and trying to purchase a classic head large cent worth a significant amount of money, I highly suggest you purchase one in PCGS plastic from a reputable dealer.&nbsp; A raw classic head large cent in a local dealer&#039;s inventory will in all likelihood be a problem coin.&nbsp; While PCGS certainly has faults, it is without question that the average classic head large cent in PCGS plastic will be a problem free coin with a relatively accurate grade.&nbsp; IMHO, they do very well with grading this series, as they do with most pre 1900 coins.&nbsp; I cannot say the same thing for NGC or ANACS, particularly with respect to classic head large cents.</p><p><br /></p><p>I would also suggest you try and learn, in detail, how to grade the series.&nbsp; Not only will it help you in grading other coins, but it will allow you to spot both well and poorly graded coins.&nbsp; Even PCGS over and undergrades coins and it is important in getting a &quot;good deal&quot; that you find a coin that is strong for the assigned grade, or be able to negotiate effectively should you find an appealing, yet overgraded coin.&nbsp; Both the ANA grading guide, the original Sheldon work, the PCGS grading guide, and the Heritage Auction Archives are all valuable tools to this end.</p><p><br /></p><p>You should also try and view as many coins in your hands as possible.&nbsp; It is truly amazing how much you can learn just by looking at a large number of examples.&nbsp; You will figure out pretty quickly what &quot;looks good&quot; and what &quot;looks bad&quot;.</p><p><br /></p><p>Hope this helps...Mike[/QUOTE]</p><p><br /></p>

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