Hello all. I don't post too often but look in regularly and learn a lot. Recently I've slowly been picking up Morgan CC"s (a third down and a hundred a week). I'm not always sure what should be a red flag or a minor flaw. I get it about harsh cleaning or holes drilled etc. If it's slabbed with a comment about improper cleaning or scratches is that just likely a minor hit on price? Basically just as an example is it better to pay say 500 dollars for VF with no gigs or 500 for one that says XF details? I know a lot of you don't go for slabs and all but when I start paying several hundred dollars I get wary. Thanks for the input.
go for the better graded coin always. nothing wrong in getting a slabbed coin. I always avoid cleaned coins. if you ever want to resell it you'll have to ask yourself will this be attractive to someone else ??? For $500 get 1 without cleaning or problems.
I am sure there are "CC" experts in here that could tell you which dates and grades you should go buy for $500.00
Personally, I wouldn't buy a problem coin even if it was an 89-CC. The only exception I made to this rule is a raw 1893-CC that is scratched because it was the year my maternal grandmother was born. It's only an F12, but the price was right. What date is it? Chris
Thanks for the answers. I wasn't refering to specific coin, but a general stategy in collecting. Nothing new in my saying that some of these coins can get out of reach price wise really quick. Again thanks for the insights.
As a general rule a problem coin will sell for anywhere from 80% to 20% less than what a similar problem free example will sell for. Yeah, that's a pretty wide range. But that's what it is. And the range is so wide because of all the variables involved, different kinds of problems, severity of the problem, overall demand/popularity, rarity rating, current market conditions, the list goes on and on. And there are no price guides for problem coins. You can always look at realized auction results which is the best way to check on values for any coin, problem coin or problem free coin. But when you do you still have to judge the coin regarding everything I mentioned above. That's why the best advice is to always avoid problem coins of any kind.
