The Old Saying Is True...."don't buy problem coins...you will regret it.."

Discussion in 'US Coins Forum' started by Eduard, Mar 14, 2020.

  1. -jeffB

    -jeffB Greshams LEO Supporter

    Telltale sign of MS70 treatment?
     
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  3. fiddlehead

    fiddlehead Well-Known Member

    I've had a few, but I don't have any to use as examples because once I regret a purchase I get rid of it as fast as I can, eat my loss (if need be) and move on. I do buy rare pieces at lower grades than usual if I like them (I collect mostly 19th century gold, some silver - and usually in XF to low AU grades) but with no intention of upgrading. I have two examples of that though - both VF35's. These are the lowest grade pieces I have - no regrets. Both are very expensive in higher grades but these are nice. I have had some really ugly but full grade coins - I don't own any of those anymore either. Why bother?

    1799 $1 NGC VF35 CAC composite a.jpg

    1840-C $2.5 vf35 PCGS-CAC comp 3.jpg
     
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  4. edwin sandel

    edwin sandel New Member

    IMG_5154.JPG IMG_5169.JPG IMG_5170.JPG IMG_5171.JPG IMG_5172.JPG IMG_5173.JPG
     
  5. edwin sandel

    edwin sandel New Member

    Here are some pictures. I am going to send off for grading but should i have restoration or conserve done to it to increase value??
     

    Attached Files:

  6. cpm9ball

    cpm9ball CANNOT RE-MEMBER

    It looks to me like it is already an AU coin at best, and conservation is not going to improve the grade. ~ Chris
     
  7. Marshall

    Marshall Junior Member

    Die Break through STAT on the 1799. The gold Charlotte Mint coin looks like one I sold several years ago when I thought Gold wouldn't go higher than $1100/oz and began converting gold and silver into copper.

    I loved the closed mints like Dahlonega, Charlotte, New Orleans and Carson City.
     
  8. GoldFinger1969

    GoldFinger1969 Well-Known Member

    I think it depends on the $$$ spent, the cost to get a "good" coin, and the time frames involved.

    If you are talking about spending $500 on a problem coin...and a good one costs $2,500.....and you could have gotten the good one in 6-12 months, agreed, bad decision.

    But if it would have taken you 3 years to get the $2,500.....then I'm not so sure.
     
  9. Marshall

    Marshall Junior Member

    One advantage of buying a problem coin is that they will not turn bad after you get them. But you have to receive the appropriate price discount.

    I see lots of overpriced problem coins on eBay priced as problem free coins with perhaps a 10% discount when the appropriate discount is 75% to 90%. That's what happens when you don't understand the values in a price guide.
     
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  10. edwin sandel

    edwin sandel New Member

    Thanks Chris. I will heed your advice.
     
  11. GDJMSP

    GDJMSP Numismatist Moderator

    Ehhhh, that usually happens almost immediately, not days, weeks, and certainly not months later.

    The coin turning blue may very well have been the result of natural toning. Or not. But I'd bet money it wasn't MS70.
     
  12. -jeffB

    -jeffB Greshams LEO Supporter

    Noted. Thanks.
     
  13. wxcoin

    wxcoin Getting no respect for 64 years

    But that rate of toning on a full red IHC wouldn't happen in a couple months. I wonder what was used to clean it in the first place.
     
  14. GDJMSP

    GDJMSP Numismatist Moderator

    Yeah, that's what a lot of folks think - but it isn't true. Toning occurs within a couple months pretty dang often.

    edit - I've seen toning occur on ASEs in a couple of weeks.
     
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  15. ewomack

    ewomack Senior Member Supporter

    I personally really like the coin below, but I bought it knowing that it is a problem coin and a part of me regrets that decision. Yet, I probably would not have purchased one of these given the prices "non-problem" examples demand. I will probably regret the decision more if or when I decide to part with it.

    1794Obv.png 1794Rev.png
     
  16. Marshall

    Marshall Junior Member

    This is actually a very good example of a S-30. More than half of these would be worse and the problem free are extremely scarce.

    edited
     
    Last edited by a moderator: Mar 17, 2020
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  17. serdogthehound

    serdogthehound New Member

    Really bad at taking picture but I have a problem coin but no regrets it a 1857-s quarter Eagle clean and ex-jewelry but I was in University and bid just over melt so it pre-civil war gold I am happy to own
     
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  18. Treashunt

    Treashunt The Other Frank


    Blonde? No.

    The high heels? well, we'd have to see.

    [Hi, Doug.]
     
  19. Treashunt

    Treashunt The Other Frank

  20. Kentucky

    Kentucky Supporter! Supporter

     
  21. Black Friar

    Black Friar Supporter! Supporter

    I prefer to call the "Yea,,,But" coins. You know them when you see them. "That's a great coin......but. I purchased a yea but Barber quarter years ago. The only solution was not to bury it so I wouldn't see it again, I took a loss but I sold it cheap just to get it out of my site. Best thing I ever did, a great move and I learned a very big lesson. There are exceptions of course, it was the best thing for me and I never regretted it.
    My opinion
     
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