Would you buy this problem coin for this price?

Obviously a problem coin, but not sure I will ever be able to afford a problem-free specimen. I think a G4 goes for $1.5k-$2k, and AG's would be okay, but they're probably at least $1k.

Would you consider buying this coin for $800? For less?

My gut is tempted, but is saying "no".

Please vote in my poll and/or post your reasons below.

Thanks.

 

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Unless you collect these and one day you will have enough money to buy a better grade I'de pass. Plus in this condition it would be hard to sell.

 

One of the ugliest coins I have ever seen-- wouldn't take it for free.

 

Great plug work.

 

Under 500 that would likely sell to a budget conscious collector who really wants one, 800 is probably a bit optimistic given the extensive damage. That is one piece that needs more than a half off discount for those problems

 

But ain't this the rare "Silver Plug" Version??

 

Then you are not very smart

 

I have no issues buying rare problem coins for the right price. I sold a holed 1841-C $2 1/2 for $750 that I bought for under $200 because apparently there are other people out there who would not even "take it for free."

 

Not unless it was dang near free and I'd then probably use it as a pocket piece. It's plugged graffitied and cleaned. Save your money for a nicer one. Even a nicer problem coin would be better then this trainwreck I'd rather have a skillfully plugged holed original skin or an otherwise problem free cleaned one personally over $300 is too much for this one

 

I don't have an issue with buying problem coins under certain circumstances because I will often use them to upgrade my collection over time. This works for me because I don't have to lay down a big pile of cash all at once. Having said that though, this one is really bad and you will have trouble turning it over. If you are undecided now, the best approach would be to pass rather than regret it as soon as you get it.

 

I agree, not taking it for free is pretty foolish. Do I want it for more than $300? No, but if the guy said "Here just take it" I'd jump all over it.

 

Maybe I just have good taste in coins.

 

$200-$300 max resell value IMHO; I wouldn't touch it at any price.

 

Even at melt value?

 

I would pass, probably at most any price, unless the owner is having a genuine fire sale. Like others have said, I think you would have trouble selling it should you decide to later.

 

Fugly coin. Would make a cool pocket piece or necklace tho. But it's numismatic value is almost nil

 

No one will sell this for melt value. The owner already wants $800 which seems ridiculously high to me (unless it is some rare die marriage that we all have missed).

 

My #1 rule when it comes to coin collecting..."never to buy a problem coin"

 

I agree with this. Somebody will buy it for $3-500 or so, just because it's a 1795. If this were a coin I wanted, I would save up for an honest G4, or, at least an AG. If it were only plugged (not cleaned and graffitti'ed as well), and the repair was done well, I could see $7-800, but not this one.

 

To take a slightly different perspective, if I had $800 ready to buy this one, I would absolutely wait until I'd saved up another $800 to buy an honest specimen. Or, more likely, I'd find a problem specimen with better appeal. I don't necessarily mind problem coins, but this one's a bit over the top (under the bottom?) for that price.

As for the comments about "not even if it was free" or "only at melt", after getting offers of $500 and $700 for a holed, engraved, beat-up, XF details proof trade dollar, I never ignore the potential market value of problem rarities. There are always buyers out there.