Discussion in 'US Coins Forum' started by Dougmeister, Sep 25, 2021.
Thoughts on this one...?
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In the end, if you can get this one for a significant discount, and if you don't mind the problems, then go for it.
@physics-fan3.14 said the hole is only the worst problem. This piece was used for jewelry.
According to the Greysheet, a Good-4 is worth $1,800. A VG only goes up to $2,000. It’s been my experience that an early coin that is graded “Good” is terrible.
I think that this piece maxed out at $1,200 or so, I would not view it as a great buy. Coins like this don’t have a great future. The best thing it has going for it is that it is certified as genuine.
@micbraun but it's for a type set and I already have the draped bust.
@johnmilton, from what I see, Greysheet prices are out the window. I'd be ecstatic if I could find a problem-free 1795 FHD in VG for $2k. They're just not out there at that price. More like $2500-$3k,unless I looking in the wrong places.
Budget *was* $2k until I got tired of searching and filled another hole in the type set.
I'm in the same boat for my type set. Got both DB dollars and looking for a nice FH dollar in VF-20/25 but prices have really gone up in the last year. But I will not buy a severely damaged coin to fill the hole. I might eventually buy a details coin that has a mildish cleaning or some other mild details issues, but a hole or other severe damage? Never, not for a coin that is not particularly rare and where the collector base is less tolerant of damage.
The chain cent is really different than the FH dollar from both the rarity, collector standards, and resale basis. Therefore, collectors are more tolerant of problems since the early copper suffers more environmental issues than the early silver. I would be much more tolerant of a details Chain Cent than a details FH dollar. And there probably is not one collector out of a hundred (don't argue with me about the numbers, I'm just making a point) who would turn up his nose at a decent, detailed 1793 Liberty Cap Large Cent.
All that said, it is ever and always your collection and you should do what makes you happy. But if part of what makes you happy is the marketability and price of your collection upon resale, then you should avoid details coins. And if part of your happiness relies upon the admiration of other collectors, you will not be happy since hardly anyone is likely to admire your holed coin.
I'm not sure I'd go for a holed piece like that, for my "mainstream" collection.
For my holey collection, sure- that coin would be the crown jewel in that.
But for a more mainstream collection, I'd rather see an undamaged G4 or so. But I don't know how the price comparisons work out, offhand.
I will say this one does have a lot of "meat" for a cleaned and holed piece, and so if you find you can live with the hole, hey- why not? Go for it.
But as has been mentioned, you might have difficulty selling it later because of that. People typically don't like holes, unless they're eccentric types who are deliberately collecting holed coins, like I have been known to do.
But yeah, unless you can buy it on the cheap, holed stuff is gonna be a hole you throw your money into and are unlikely to get it back.
I have collected holed coins purely for the joy of casual collecting, and not with any kind of investment in mind. If you're that way, then why not- you can get a coin with more details on it for less.
But if the investment means anything, I would avoid "problem" coins in my mainstream collections.
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