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Why are cleaned/scratched/graffiti coins a bad investment?
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<p>[QUOTE="CamaroDMD, post: 1815304, member: 5233"]They should be avoided...for the reasons you stated above. Another problem is not only are they very hard to sell...their value can be very unstable. For example, lets say a problem free coin is worth $100. That same coin cleaned might be worth $50 to one person and $15 to the next, it might be worthless to me. They are very hard to price because there is no set scale to compare them to and the damage affects each person's opinion of the coin in different ways. So, not only are they hard to price, they are hard to sell...the actual value of a damaged coin can never be low enough.</p><p><br /></p><p>I have a bunch of problem coins I am trying to unload right now. It's a huge pain, I would say avoid it at all costs.</p><p><br /></p><p>The ONLY time I would say it's acceptable to buy a problem coin is if there simply aren't any examples available. I don't have a coin like this, but one of my paper notes is like this. I own a 1902 $10 PB National Bank Note issued from one of the Oregon banks...only 6 are known to exist. So, when I found one for sale...even though it has tape and tears, I jumped on it. Pieces like this IMHO are acceptable in problem conditions because other examples simply don't exist. I may never see another example of that note again.[/QUOTE]</p><p><br /></p>
[QUOTE="CamaroDMD, post: 1815304, member: 5233"]They should be avoided...for the reasons you stated above. Another problem is not only are they very hard to sell...their value can be very unstable. For example, lets say a problem free coin is worth $100. That same coin cleaned might be worth $50 to one person and $15 to the next, it might be worthless to me. They are very hard to price because there is no set scale to compare them to and the damage affects each person's opinion of the coin in different ways. So, not only are they hard to price, they are hard to sell...the actual value of a damaged coin can never be low enough. I have a bunch of problem coins I am trying to unload right now. It's a huge pain, I would say avoid it at all costs. The ONLY time I would say it's acceptable to buy a problem coin is if there simply aren't any examples available. I don't have a coin like this, but one of my paper notes is like this. I own a 1902 $10 PB National Bank Note issued from one of the Oregon banks...only 6 are known to exist. So, when I found one for sale...even though it has tape and tears, I jumped on it. Pieces like this IMHO are acceptable in problem conditions because other examples simply don't exist. I may never see another example of that note again.[/QUOTE]
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Why are cleaned/scratched/graffiti coins a bad investment?
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