Discussion in 'US Coins Forum' started by Sting 60, Nov 25, 2023.
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along with the above mentioned.
Tough Love Dept:
Look at the surface behind Liberty's arm. The coin is WHIZZED. It is not cleaned, or harshly cleaned, or polished. Altered surface is also a poor substitute. The little lumps on Liberty's are are die chips. They are commonly seen in this location and on the outside of the eagle's wings.
Words mean something so I apologize for hurting any feelings or coming off as a know-it-all. NOW, I don't expect to get any comments from any little snowflakes who don't like my tone.
PS Note that there is a change of color around the scratches. That indicates the surface is depressed a little (reflects light differently). Someone tried to remove them or make them less severe and then whizzed the coin to cover up the repair.
A coin this bad is hard to authenticae with images alone but chances favor it being genuine.
No surprise, read on.This is what's been going on over the years. Chop marked coins were considerd to be damaged, inferior junk. Back then, I cherried an AU S/CC for either $30 or $40 dollars (I don't remember - it could even have been a little over $20 (I still own it) The coin was in a pyramid pile of at least 150 chopped Trade dollars.
At the first TPGS (INSAB) we graded them and added chopmarked. Thus, AU-55, Chopped. It was considered to be "Technical Grading." Grade the coin for its condition of preservation and add any modifiers that were needed to describe it. Thus a virtually flawless, flashy Morgan dollar with a very flat strike was considered to be a flatly struck gem. It was not worth "gem" money but technical grading had nothing to do with placing a value on a coin.
Chop marked coins were considered to be damaged and not sutible for grading by the newer services - PCGS and NGC. I don't remember how ANACS (the second TPGS) handled these coins. Following PCI's lead, the other TPGS realized that bodybaging a coin and keeping the grading fee was cousing grief. Finally, the other TPGS's started to grade problem coins. It still took a little while for Chops to be considered OK. When I first started working at ICG we put Choped coins into "detail" slabs. As these coins became popular we now straight grade them and add Chopped to the label. That's what all the TPGS do now.
Full circle and ahead of its time dept: Present day "Detail Grading" (if warrented) is EXACTLY what we did at the first TPGS almost thirty-five years ago!
My understanding is that coins like this one with a single well placed chop mark on one or both sides, and otherwise fully original, are especially desirable. I have a non-chopped straight graded Trade Dollar in my collection, and would love to also have a problem free chopped one. Some still consider chops to be damaged, but it is something with historical significance. As opposed to other damage like whizzing or scrubbing with a Brillo pad.
Like @mbogoman I think the price paid for a raw coin that has been seriously messed with seems quite high.
Here is a genuine graded piece of the same date and mint that is in an MS-63 holder.
The OP’s coin has the mint mark farther to the right than yours. The mint mark also appears to be a little different as well.
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