When you accidentally buy a cleaned coin or two....

Discussion in 'Coin Chat' started by CoinBlazer, Oct 10, 2018.

  1. CoinBlazer

    CoinBlazer Professional Teenager

    Is it change your Avatar day because 3 or 4 prominent people recently changed an avatar that they had for quite a long time?
    Randy Abercrombie likes this.
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  3. chascat

    chascat Well-Known Member

    I've considered buying a 1799 bust dollar...In VF cond. cleaned for about $1,000, as opposed to a graded example in VF for about triple that figure.
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  4. Randy Abercrombie

    Randy Abercrombie Supporter! Supporter

  5. LA_Geezer

    LA_Geezer Well-Known Member

    I do not own a graded coin. I often wonder what it might be like to have one; would I enjoy it more? But as I have also read here many times, there are members who have taken their coins out of a TPG's slab and resubmitted it, only to get a lower grade... what then?
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  6. Randy Abercrombie

    Randy Abercrombie Supporter! Supporter

    I am like you. I came from the old school of collecting. Back before we had this TPG fever. I was out of the hobby for thirty years while I raised a family. When I came back I chose to take the coins I felt had a value and have them slabbed so my heirs could liquidate them easier once I leave the party. I am not in this for gain. I would never crack one out and resubmit it.
  7. BooksB4Coins

    BooksB4Coins Newbieus Sempiterna

    I certainly cannot speak for OKBC, but can guess that his greater point had much to do with the fact you seemingly liked the coins until someone else told you otherwise. Sadly, this is an exceedingly common scenario in this hobby and can be seen on this very board. Just think of how often you'll see someone happy/excited over a recent acquisition only to see them do a 180 once others have chimed in and/or a TPG has had its say. Perhaps you'll disagree, but I have a hard time seeing how this approach could in any way be enjoyable.

    I mean no disrespect in saying so, but this experience should be suggestive of your need to slow down and rethink your present approach to collecting. If you were unable to identify the coins as being cleaned on your own, perhaps it would be wise to invest your energies into learning to properly do so before making further purchases. No, it's not going to be as fun as buying, but in the long run you'll be in a much better position to make wise buying decisions. We've all lived through this on one level of another, so please don't take it personally.

    It's imperative that you look at this experience the "right" way and is particularly true if you still have a desire to ever embrace the business aspect of this hobby. Yes, individual opinion is what's most important and what should really matter in this hobby, yet reality usually tells a very different story. Most will happily embrace what the almighty TPGs say and/or their standards, but is this really a wise path for the non-lemming collector? I say it's not and that the wise will set their own standard above and beyond that of any TPG or CAC. Is "market acceptable" good enough for you, or would you prefer to own coins that stand wholly on their own merits? Think about it.

    If you want an example of a fine collection put together by a wise and discerning eye, please look at some of the coins posted by @ldhair. I hope he doesn't mind my saying so, but I've long thought his approach one of the finest on this board. Many of the coins you'll see will not be the very high grade examples so many chase after and/or think necessary to have a "nice" collection, but they'll be of very high quality for their respective grades/conditions, making them much more special than the average higher grade blah. Also, and to put it simply, you'll see material that will often sell itself, often for prices above high retail and means that in the long run you probably won't have a great deal to worry about if/when the time comes to liquidate.

    As always, take as you will....
  8. I saw a documentary about a hi-end hotel California I believe that washed their coinage nightly in washing machines to prevent the spread of germs all that silver matag ready I have "old cleaned " coins in my type 7070 collection I bought them for great details at reduced pricing I buy for eye appeal and what I like after all my collection has to please me
  9. CoinBlazer

    CoinBlazer Professional Teenager

    I completely agree with all of that. Thanks for your input
  10. ldhair

    ldhair Clean Supporter

    Thank you for the kind words.
  11. LA_Geezer

    LA_Geezer Well-Known Member

    I'm quite anxious to see some of your collection, @ldhair . Would I find many examples if I were to do a search on your member name?

    And thanks to @BooksB4Coins for his insightful comments above and for bringing your collection to our attention.
  12. okbustchaser

    okbustchaser Just plain busted

    In this (actually, most of the time) case you can definitely speak for me... upload_2018-10-12_8-54-42.png
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  13. BooksB4Coins

    BooksB4Coins Newbieus Sempiterna

    Thank you. It's a privilege I'll not abuse.... ;)

    You're certainly welcome, but they were well deserved and I thank you for your generosity in sharing them with us. :)
  14. BooksB4Coins

    BooksB4Coins Newbieus Sempiterna

    You too are welcome and I hope it helps. The fact you took it as intended is also most appreciated. :)
  15. coin_nut

    coin_nut Supporter! Supporter

    I have some coins which have been cleaned. I sweat a lot here in the tropics, so I keep them on my desk and rub them on my neck once or twice a day, hoping to lay some tarnish on those too shiny surfaces.

    As an aside, I spent a hour or more with a man last week who was refinishing cast brass Buddhas at a near by temple. First he scrubbed them with a brass wire brush dipped in some liquid. The brass came out almost white. Then he painted coat after coat of another type of liquid which would impart an aged, darker color to the surface of the brass statues. I brought one small brass casting of my own and had him paint some of the tarnishing agent on it. I did not do that with any coins, and do not know just what chemicals he was using.
  16. YoloBagels

    YoloBagels Well-Known Member

    I watched that documentary in school about half a year ago. They take coins from fountains then "clean" them to turn them into the banks.
  17. TypeCoin971793

    TypeCoin971793 Just a random nobody...

    If they were sold to me as original and I trusted the seller, then I would return the coins. If I assumed that hey could be cleaned and paid accordingly, then I would sell them.
  18. Ana Silverbell

    Ana Silverbell Well-Known Member

    I have bought coins that I believed were lightly cleaned in the distant past or were dipped. I am willing to accept that for the right price if the coin still has eye appeal.

    When I buy a cleaned coin unwittingly I do become obsessed with it and start to devise plans to get rid of the coin or let it tone, hoping it will become more appealing. It is the cleaned silver coins that disturb me the most. I consider them "rejects" if the cleaning has devalued the silver coin to melt value.

    My latest plan for cleaned silver coins is I have set aside a box for them. (This box is not for rare or scarce silver coins.) Then I sit and wait for silver to go to $50 an ounce. "Tick, tock - tick, tock - ...."
  19. Taurus57

    Taurus57 Active Member

    I'd ask what collecting direction you plan on taking? If you are going to type collect for say a Dansco 7070 then these coins may be perfect examples for that. I wouldn't be so quick in trying to get rid of them as you got them at a pretty fair price.
    Ana Silverbell likes this.
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