"details" posted by cemonice
0

6 posts in this topic

3,247 posts

Coins that have been cleaned or that have some minor corrosion, should they all be overlooked?

 

over the past 6 months or so, i picked up a couple of the more valuable I.H. pennies such as the 1870, 1871, and 1873 "closed 3". These coins were bought with minor corrossion on them, but i got them at 1/3 of the price at which they were worth, plus they were all XF, easy. The 1864 with L, has VERY MINOR corrosion. These coins are all still very GREAT coins and the corrodded spots are mostly around the rims on the reverses. I dont have a good camera for taking pics, but im working on it.

 

Now my question to you more experienced collectors, Should i have just saved my money and put it towards an exceptionally lower grade coin? Does it ruin a set to put a problem coin into my Dansco album, as far as value?

 

Im really interested in any thoughts you all may have on problem coins...

Thanks All

 

See more journals by cemonice

Share this post


Link to post
Share on other sites
1,221 posts

I think you kind of hit the nail on the head when you indicated you got those coins for 1/3 their value. The fact they have corrosion will always depress their value but they will always have some value due to their rarity and their lower level of overall wear.

 

If you were to substitute Good/Very Good instead, you might pay about the same but would have a coin that won't exhibit the detail of your corroded specimens.

 

Your personal preference would be the key factor. For me, I would rather have the non-corroded coins in a lower grade since corrosion damage is irreversible and might even continue to develop, depending on the nature and reason for the corrosion. My Good or Very Good coin will remain the same long after my demise as long as I keep it in an album or slab.

 

Cheers,

Malcolm

 

 

Share this post


Link to post
Share on other sites
2,737 posts

Nick,

If you are interested in keeping the coin you would want the corrosion removed.

NCS will do a wonderful job and the coin will amaze you when it returns home.

 

 

Later---Rick

Share this post


Link to post
Share on other sites
15,900 posts

For a large segment of the coin collecting community, there often seems to be downright paranoia about buying a "problem" coin, and TPG companies have only worked to encourage this fear. But every coin has an appropriate price level, and if you enjoy your mildly corroded coins at the price you paid, then only a fool would work toward lessening your enjoyment of the hobby.

 

I own a number of faulty coins, and don't mind at all, since I was able to afford them, and couldn't afford flawless pieces.

Share this post


Link to post
Share on other sites
1,221 posts

I collect chopmarked coins so you make a good point. I actually like the chopmarked coins more than an unmarked specimen because the coins have tangible evidence of their role in East/West trade. But corrosion is something that may still be developing so important, especially with highly reactive coins like Copper to evaluate the corrosion carefully.

Share this post


Link to post
Share on other sites
548 posts

thanks for everyones feedback! it just so happens that the coins are nice enough that i will enjoy them and maybe someday when i am more experienced, i will upgrade to problem free coins. As for now i prefere them to AG hole fillers, but i do appreciate ALL feedback! When i can figure how to take good pics, i will show some of my coins to you all!

 

Nick

Share this post


Link to post
Share on other sites
0