Painted/Decorated coins?

I made a first-time visit to a coin dealer on Friday. They had a lot to look at, and I asked a lot of questions (they encourage learning, especially for the n00b collector)....

Anyway, one thing I haven't seen before (even posted here on CT), was brightly painted coins.

They had a lot of US coins with added color. Even some of the .999 Silver Eagles were painted with colors to make the eagle, words, etc "pop" more.

I'm sure they're painted to add color and catch the eye, especially to help sell them. I wasn't under the impression that anyone at the store did the actual painting, but they must have had at least 100 coins with color added to them...

Would the paint affect the metal in a negative way?

Does anyone here collect painted coins?

They were pretty coins, but at the same time, the more paint on them, the less shiny they appear.

Thoughts?

 

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I don't think so, but it definitely affects the value. Now, if you like these sorts of things, that's OK. You're the collector and we always tell folks to collect what they like regardless of what others think.

 

Good questions.
My answers,
Only negative thing is that it looks ugly!
I don't collect even though I have one. They don't add value to any coin!

 

Yes & No. Any altered coin loses it's value immediately weather painted or stickered. These I call "Gimmick" coins used to lure in the unknowing potential new collector or used to hawk on TV for other unknowing folks hoping to find something nice for a collector they know. Please stay as far away from these as possible.

 

How?
seems like I disagree with that.

 

Yuck.

I've never seen one of these that was attractive. They are usually sold by hucksters on TV for a ridiculous premium. I'm guessing some person got suckered in, paid a fortune, and then sold them at a ludicrous loss to the coin shop.

I've never seen one where someone removed the paint, but I would surmise that there is a good chance that the paint/acrylic/substance bonded and/or did damage to the underlying surfaces.

These are usually extremely common coins, and I see absolutely no reason to buy them.

 

I've never seen a painted coin go for more than one that's not.

 

Some people like them and will buy them. But they are hard to find.

For the rest of us, I wouldn't take it if you gave it to me for free. And thus, its value (to me) is pretty much zero. I'm not even sure you could spend these without a hassle. And so its value is face or less, to many people.

 

This also goes for gold plated or platinum plated coins. Once purchased they are almost impossible to sell. A lot of people think "Gold/Platinum Plated, Wow, those are precious metals worth a lot of money". Not so, as the plating is so thin if you carried one in your pocket for a month, it would wear off.

 

I personally despise colored/painted coins, but that's just me. Generally, they only sell for a premium from the dealer but rarely afterwards. I dump any colored coins I pick up in my change jar and cash it in.

 

Does a Coinstar or other change machine actually recognize these colorized coins? I've seen many rejected, because the electromagnetic signature of the coin has been altered.

 

My NY quarter made it through just fine.

 

I guess it depends on what it's coated with.

 

Then we have the Canadians...

 

I picked up a older walking liberty half,1947P, that had been painted at one time. It was mostly rubbed off, a quick dip in acetone was enough to get rid of the left over paint. Didn't appear too much metal damage was done, but it is a medium to heavily circulated coin.

 

It is true any coin who's surface or surfaces have been altered are considered damaged . However do the loose value that depends . I have posted about enamelled coins before on CT. And yes the spelling above is the correct spelling if you do a E bay search on Ca. Or Uk.
You'll find that some enamelled coins go for some huge money! And yes they all have altered suffices to allow the enamel to stick.

 

I like how the king is wearing yellow socks to fight a dragon

 

They are fire proof socks just in case the dragon exhales .

 

He just happened to be washing the rest of his socks that day.

Chris

 

The only reason I don't categorize postmint painted coins the same as coins someone took a Brillo pad to is that one can remove the paint cleanly. Otherwise they're an abomination and a direct affront to numismatics.