Would you bid or purchase a whizzed coin? How does it effect the value in your opinion vs a cleaned coin? FYI: If this coin was in a slab with MS60 or maybe higher PCGS price guide says $175 and another guide says $160. The seller is asking $165 with no takers so far.
I keep hearing it worth half the value. So ask yourself two things: Do you really like the coin? Are you willing to get half the price if you sell?
LOL -- "this coin would be worth $160 problem-free, but since whizzing it took quite a bit of time and effort, it's worth at least $165." Even better, after looking at the eBay history for the coin: "We've been trying to sell this for weeks at $151, with no luck, so let's try it at $165." This seller (EternityCoins) seems to specialize in problem coins, and their schtick is to put "NGC XF" or "PCGS Uncirculated" in the title without mentioning "Details". Anyone looking at the description will immediately see what's going on, but I think it's pretty scummy, and treads close to the line on "search and browse manipulation".
The most recent example I can find, in the lowest MS grade I can find, MS62, sold for $184. The most recent example I can find in MS62 sold for $282. The most recent problem examples I can find, 1 sold for $126 (harshly cleaned), and the other sold for $31 (scratched). So obviously, the seller is asking way too much, which is why it hasn't sold. Will somebody but it eventually ? Maybe, but if they do then it will be because they did not spend the same 5 minutes it took me to find out what I found out. Of course I only did it to answer your question. If it were me, or an educated buyer, that coin would never even be considered for purchase. It would be forgotten and ignored, as would all problem examples. What you should do is what I have told you to do several times. Look up things like this on Heritage. It's quite simple and easy, took me all of 5 minutes to do it. You can do the same. But more importantly what you should do is forget about looking at problem coins to begin with. They are not bargains, they will not save you money. This coin is a perfect example of that. This guy is asking $165 for a whizzed problem coin, and with patience you could buy a problem free MS62 example for about $20 more. Now I don't know about you, but that seems like a no brainer to me.
First, I would not buy the coin. If you buy a coin with a problem you will always have a coin with a problem. BUT If there was some reason for me to want that coin I would stop at a max of 25% of greysheet.
Don't worry, I've been listening to you. I have no intention of buying this coin or knowingly purchase any problem coin. As kanga said, once you buy a problem coin you always have a problem coin. I only put this up as something interesting and perhaps others who prowl eBay for coins might be more careful. I was reading some online articles by Travers and there were some pretty good tips about coins. His recommendations were to not purchase scratched, harshly cleaned or damaged coins. I kind of thought a whizzed coin did about as much damage as a cleaned coin and thought this price was way beyond what it should go for. I've been looking at some of the Heritage Auctions by the way. They have some really good coins there. I spotted a gorgeous 1872 two cent piece, but I can't afford $13,000 plus. I'll be looking for lower grades if I ever decide to buy one.
This one looks particularly bad to me, so I'd avoid unless it was about $45. 1875 is a bit of a tougher date, but there are enough for sale on eBay so that you can be picky. Personally I think some whizzed coins look nice, even though the process actually removes metal from the surface of the coin and creates "fake" luster.
