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<p>[QUOTE=&quot;kanga, post: 8259936, member: 9270&quot;]What is your “Rule of Thumb” for pricing a coin with obvious condition problems?</p><p><br /></p><p><br /></p><p>Assumptions:</p><p><br /></p><p>1) You want the coin.</p><p><br /></p><p>2) You cannot find the price of that coin with similar problems.</p><p><br /></p><p><br /></p><p>Currently my procedure is:</p><p><br /></p><p>1)&nbsp; Assign a straight grade to the coin ignoring the condition.</p><p><br /></p><p>2)&nbsp; Find the catalog value of the coin in that grade.</p><p><br /></p><p>3)&nbsp; Reduce that value by 50%.</p><p><br /></p><p>4)&nbsp; Then the tricky part:</p><p><br /></p><p>&nbsp;&nbsp; &nbsp; a. “Adjust” the reduced value by taking into account its “eye appeal” to you.</p><p><br /></p><p>&nbsp;&nbsp; &nbsp; b. “Adjust” the reduced value by taking into account its rarity.</p><p><br /></p><p><br /></p><p>Does this procedure seem reasonable to you?</p><p><br /></p><p>How do you handle such a situation?</p><p><br /></p><p><br /></p><p>EXAMPLE:</p><p><br /></p><p><br /></p><p>This is a coin that was raw when I spotted it on eBay about 10-15 years ago.</p><p><br /></p><p>It’s the only “cherrypick” that I recall ever doing.</p><p><br /></p><p>It’s an 1831 Capped Bust/Reduced Diameter quarter, B-7 variety, rarity R-5+.</p><p><br /></p><p>I knew it would come back from NGC with a DETAILS grade but since it was the 3rd rarest in the whole Capped Bust/Reduced Diameter quarter set (1831-1838, 36 varieties), I wanted it.</p><p><br /></p><p>A common 1831 in F-12 is currently valued in the Greysheet at $110.</p><p><br /></p><p>I paid $399 for it.</p><p><br /></p><p>Evidence indicates that I did okay at that price.[/QUOTE]</p><p><br /></p>

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