I can get this Denarius for $19. Should I?

Personally, I think the coin in the OP is an ugly POS, and you did well by not buying it.

 

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Divided on this. As it is, I would pass for sure, but at the same time it looks like it might be a good candidate for a lemon juice soak.

 

I agree with pass.

I have broken coins, but they are exceedingly rare and would otherwise likely be un-obtainable.

With a more common coin you have the luxury to try to be more discerning. Try to get an example that shows a full legend and reasonable portrait.

 

I stayed out of this thread until now since as a dealer my comments are sure to be suspect. But, since you mention the above I figured it was safe to respond. This is indeed one way in which many collectors have become dealers. Buy a few 'extras' and resell them to help offset the cost of ones collection (its how I got started). I have to say that I am surprised at the comments advising against buying.

Sure, I get it and I too advise collectors all the time to buy only the best they can afford. But not everyone can afford a nice VF or better Nero denarius. Maybe this example is all they can afford. But, whatever. Many reasons pro and con, I understand both sides. However as a dealer I can advise that even the crappiest of Nero Denarii sell for roughly $100. Why not buy it? Even if below your standards one could flip it on Ebay and buy a really nice Gordian sestertius or many other coins.

Yes, I know, I have read countless threads here advising of value, prices, etc., but few seem to know of what they advise. Honestly I am not sure where so many people seem to be buying their coins. If I could buy at these levels I would cash out my 401(k) and retire in a few mere months. I have read many threads where people say something similar to 'I wouldn't pay $50 for that'. They are right. They wont and cant. They will likely pay $150, $200, etc.

My advice, go back and buy it. Flip it for $50 (undercutting most by 50%) and turn it to some nice Chinese coins!

 

The difference here is that I am not actively searching for a denarius (or even a bronze) of Nero. I just happened to find a historically interesting coin for cheap. Had I bought it, it would have filled that interesting slot in history so I could tell a story about it. Being inexpensive, I would not have to step far out of my collecting interests to get it. At least that was my logic when I posted it here.

Most people who post that are not interested in the coin enough to pay the higher cost and/or do not know the value of the coin to someone who is. I wouldn't pay more than $100 for a 1909 S VDB because I don't really care about finishing the set. I know it is worth more to those who care, but I'm not about to shell out $500-1000 more for a coin I'm not interested in. I see several bronzes posted here that I am surprised members paid upwards of $300 for. That surprise is caused by both ignorance and disinterest in that area of collecting.

 

I changed my mind and decided to go for it. It was a cheap way to get an example of a very interesting time in Roman history. I know it is not the best example of a Nero denarius, but it will fill the slot for many years because I am not actively buying Roman Imperials by portrait.

I cleaned it with my thumb a little bit, so it does not looks as much like a POS. There was actually a lot of detail under that gunk. I'm happy with my purchase, and I don't care if you think I should have saved up for an intact specimen (because I wouldn't have ).

 

Better pictures. Still working on getting a good setup in my new room. I'm almost there.

 

The cut:

 

I like it and am glad you gave it a home. I agree with usually buying quality... but for areas of secondary interest or areas where you never intend to shell out lots of money ever, $19 is a sweet buy!

 

I remain bothered by the idea that these coins are 'worth' any specific number. In some circles, a rare coin is worth no more than face value or melt which makes an EF Nero worth the same as a couple 1964 dimes. On TV there is a show where 'Pickers' go into junk filled outbuildings and buy rusted motorcycle parts because they believe they can find someone willing to pay them for their trouble. Coin dealers work the same way. They believe they can get you to pay them more than they paid. Often they are right. Others soon find another line of work.

Look at the prices realized of any public auction and try to make sense of the sales between 60% and 600% of estimate. My last outing in the auction world saw me pay more than anyone else thought the coins were worth. If they thought the things were worth more, they would have outbid me.

I'm one of the ignorant advisers mentioned here. I can only advise based on what purchases have made me happy and which has brought me sorrow or boredom. The fact that you can resell a piece of rotten metal to someone dreaming of making a motorcycle; the fact there is someone out there who believes half a coin is worth half the price of a whole one; the fact that some lots sell for many times any reasonable estimate --- these have no bearing on value and may or may not apply to the next sale of the item. If the coin gives you enjoyment, pay 600% estimate and be glad you have what thrilled you; if it does not, I suspect there was a reason no one else bid the 60%. I could not be a dealer. I could not look someone in the face and tell them they should pay 600% for coins just because I own them.