question to the smarter guys- Morgans/Trade dollars

what % from red book would one use to deduct for a polished/cleaned coin? Rarely see in it in trade or CC Morgan's but often on Morgan P/O's> For collecting not resale? rarely sell a coin unless duplicates. Thanks DB

 

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100% - I try to avoid accepting problem coins because they are only worth what someone is willing to pay for them, and you can't find that value in any price guide.
~ Chris

 

I would take around a 30-50% discount, depending on the starting value and level of cleaning.

keep in mind that many collectors will NOT touch a cleaned coin under any circumstances, which does reduce the available pool of buyers considerably

 

Tie it to 'spot'........just about as good as it gets. Nobody (collectors) like damaged goods. If it's an extremely rare piece, a pittance more.

MHO.....others may disagree

 

Most collectors won't buy a cleaned or polished coin unless it's super rare! That said, I really don't collect Morgans or Trade Dollars, I only own a couple of each.

 

thanks guys my question are answered as I would much rather have a toned or end roll tone virgin! great answers ty

 

Actually, I revise my earlier statement to at least 50% discount.

When I was vinegar-dating Buffalo nickels, I would sell, for example, 1918-D for $5-7, down from book value of $25+

 

An approach some older guys I know take is to assign an appropriately lower grade and go off that price.

Light cleaning? Drop it one grade.

Moderate cleaning but still slightly attractive? Drop it two grades.

Bad to awful cleaning? Drop it three or four or five grades as seems appropriate.

Pretty subjective I know. But there is a sort of logic to it, it kind of balances the price in relation to how easy it is to find a lower grade but problem free piece.

 

NOW I KNOW WHO THE SMARTER GUYS ARE NOW

 

I think you will be much more satisfied later if you avoid cleaned coins now. As others pointed out, they have a much lower value and a much smaller market.

 

Yes, but there is so much knowledge in here and when
Mtn. man, Trotter and Paddyman (not in that order) weigh in you know where your at!

 

I deal in musical instruments, and sometimes I run across an instrument that is so rare and obscure that there's no possible way to ascribe a value to it.

The solution? Put it up on eBay at an exorbitant price and see what kind of offers you get. Prospective buyers are your best gauge for tough values.

 

A very light cleaning would see about a 30% reduction in value. An extremely harsh cleaning/polishing would cause a 70% reduction in value. It is a whole spectrum.

If it is in a “cleaned” holder, people pay the same lowball value regardless of how severe the cleaning actually is because no one actually looks past the label anymore. To them, it is just undesirable garbage.

 

First the Redbook isn't a good pricing guide, second there is no "standard" percentage deduction because every coin is different.

 

There isn't a single "rule."

It depends on amount of detail left, any other problems than the cleaning and how harsh the cleaning was.

Also, it depends on what the coin would have been worth had it not been cleaned. You can't drop the coin below the value of the metal in it, so there's a lower limit. Cleaning a common date Morgan in XF or lower probably has no effect on the value at all.

 

If it's a real rarity, or something that's highly in demand, a cleaned or damaged example will retain significant value. You're still going to have to shell out hundreds for a detail-graded 1916-D dime, for example. (I'm trying to think of examples of actual rarities where I've seen a details example go for big money.)

 

I don’t do problem coins. A dealer in problem coins I know says - “I try get somewhere between cost and retail.” There is no real set formula on these.

 

Wow with all the great opinions on cleaned coins and Ty to all. Maybe this should have been a featured segment. I'll clear my position yes I use red book as a reference and drop two grades then cross with ebay past history on any coin cleaned or pure then use that as a barometer of where I want to be. I've found that this works that if you get out of a position, "you don't throw out the baby with the bath water".