Certified "Detail" coins

[Jrc-migration]

I'm relatively new to coin collecting. I've seen certified coins noting, eg: "VG DETAILS" the certification says "IMPROPERLY CLEANED" or "OBV SCRATCH" or other problem. I understand these problems detract from the value of the coin, however are you supposed to use the Detail estimate as a starting point for the coins value then decrease accordingly for the severity of the problem? Please advise. I'm looking to purchase some Morgans, low mintage coins with some problems (minimal) and would like to know if the price I'm paying is in line with "The Details".

[BillJones]

This is a hard question to answer without seeing the coins in question. Every coin is different. If the problem is minor, the value might be the next lower grade below the " details" grade. If is really bad, like a really nasty hole, it might be several grades below that.

 

Before you spend a lot of money on problem coins, I would advise you to give it some thought. Quite often it easier to buy such coins than sell them. Many collectors reject these coins out of hand, and some dealers are less than thrilled to buy them. I would advise you to buy lower grade circulated coins with no problems than to buy a bunch of problem pieces.

[coins galore]

Very good advice!!!!! addis3363

[benjmurts]

I have been selling off my holed/problem coins just to get rid of them because them depress me when looking at my collection. I would advise the same as Bill on "no problem coins" in a lower grade. I bought an 1877 Indian head with a gouge in it for about $600 when I started collecting just to full the hole in the book but it took a long time to sell it and didn't even break even because no one want problem coins especially dealers.