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"ruined" $800 rare chinese coin?

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New Member

United States
14 Posts
 Posted 09/25/2012  11:35 am Show Profile Bookmark this topic Add rogerwhite65 to your friends list Get a Link to this Message

Hi, I had a very rare 1912 chinese coin that was appraised at $800.

However, the dealer rescinded the offer when he saw two very small marks on the side of the reeded rim -- he said that it meant it had been used in jewelry and now the coin was worth nothing.

Is this true? I sent it off to NGC to get certified anyways..

New Member
United States
14 Posts
 Posted 09/25/2012  11:35 am  Show Profile Bookmark this reply Add rogerwhite65 to your friends list Get a Link to this Reply
Sorry I don't have any pics -- sent off to NGC already
Valued Member
Canada
219 Posts
 Posted 09/25/2012  11:51 am  Show Profile Bookmark this reply Add Islander2010 to your friends list Get a Link to this Reply
Impossible to say anything in this regard without seeing pictures. If the coin shows definite evidence of having been used in jewellery, ie. mounting marks, it'll come back to you in an NGC "bodybag", with a note stating as much...
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United States
14452 Posts
 Posted 09/25/2012  11:57 am  Show Profile Bookmark this reply Add Bryan1315 to your friends list Get a Link to this Reply
ex jewelery doesn't make a coin worthless, it will bring the value down but a rare coin is always going to be a rare coin.
Pillar of the Community
United States
1270 Posts
 Posted 09/25/2012  12:03 pm  Show Profile Bookmark this reply Add Dave H to your friends list Get a Link to this Reply
I agree w/ Bryan1315. A rare coin is a rare coin no matter what condition it is in. I agree in the fact that the value is decreased due to "damage", however, sometimes I think the decrease in value is sometimes over-exagerated by others to get a better deal...
New Member
United States
14 Posts
 Posted 09/25/2012  12:25 pm  Show Profile Bookmark this reply Add rogerwhite65 to your friends list Get a Link to this Reply
thanks for the answers guys :)

here's the coin in question, except mine's in better condition (AU-55 ish): http://www.ebay.com/itm/China-20-Ce...em460787b1fb

to be honest, the marks were very subtle... just a little medal over the reeding of the coin on two points. maybe he was just trying to cherrypick me?
New Member
United States
14 Posts
 Posted 09/25/2012  12:26 pm  Show Profile Bookmark this reply Add rogerwhite65 to your friends list Get a Link to this Reply
by the way, he said that the value went down from $600-800 to about $4. he seemed like an honest guy though...
Pillar of the Community
United States
2848 Posts
 Posted 09/25/2012  1:58 pm  Show Profile Bookmark this reply Add matthewvincent to your friends list Get a Link to this Reply
Coin collectors all have different standards.

Some are more flexible than others.
If the coin was indeed used in a piece of jewelry, then its description would be:
XXX coin. Technical grade YY. Ex-jewelry piece.

A rare coin is and will always be rare.
The amount of damage and/or distracting marks can only be determined by an up close examination.
You did wise to do what you have done.

I would be more concerned with evidence of cleaning than solder residue.

ALWAYS go with your gut feeling!
I have never met a Barber Coin which I didn't like. Visit us at the Barber Coin Collectors' Society
http://www.barbercoins.org/
Pillar of the Community
United States
8998 Posts
 Posted 09/25/2012  2:19 pm  Show Profile Bookmark this reply Add basebal21 to your friends list Get a Link to this Reply

Quote:
Coin collectors all have different standards.




Some collectors wont touch coins that have even the slightest damage while others will see that as an opportunity to own a coin that otherwise would have been out of their price range
Pillar of the Community
United States
1270 Posts
 Posted 09/25/2012  2:40 pm  Show Profile Bookmark this reply Add Dave H to your friends list Get a Link to this Reply
w/ basebal21. Poor collectors like myself will always try to get the best coin they can even though it may have previously been cleaned, minor damage, etc...
Pillar of the Community
Australia
2253 Posts
 Posted 09/25/2012  4:14 pm  Show Profile Bookmark this reply Add gxseries to your friends list Get a Link to this Reply
IF it's genuine, it's worth a fair amount. Unfortunately with Chinese coins, there's just too many counterfeits around. I wouldn't be too concerned about the damage yet - what's more important is to establish if it's a fake or not.
My partial coin collection http://www.omnicoin.com/collection/gxseries

My numismatics articles and collection: http://www.gxseries.com/numis/numis_index.htm Regularly updated at least once a month.
Pillar of the Community
Australia
2253 Posts
 Posted 09/25/2012  4:17 pm  Show Profile Bookmark this reply Add gxseries to your friends list Get a Link to this Reply
Did forget to mention - even with the damage, that particular coin is worth a fair amount. I wouldn't say it would drop down to 4 dollars. I'm certain that he wants to rip you off big time so that he can make money if he buys it cheap off from you.
My partial coin collection http://www.omnicoin.com/collection/gxseries

My numismatics articles and collection: http://www.gxseries.com/numis/numis_index.htm Regularly updated at least once a month.
Pillar of the Community
Philippines
1154 Posts
 Posted 09/25/2012  11:02 pm  Show Profile Bookmark this reply Add Nic to your friends list Get a Link to this Reply
..perhaps the word "worthless" may be in preparation before asking for a big discount?
New Member
United States
14 Posts
 Posted 09/26/2012  12:03 am  Show Profile Bookmark this reply Add rogerwhite65 to your friends list Get a Link to this Reply
It definitely is real -- I've had it examined several times in china. Nobody ever picked up on the slight edge marks though.

So what happens of NGC determines it is real but used to be in a necklace? Will they still slab it to determine that it is real?
Pillar of the Community
United States
8998 Posts
 Posted 09/26/2012  12:22 am  Show Profile Bookmark this reply Add basebal21 to your friends list Get a Link to this Reply
Im pretty sure they would slab it as damaged or something along those lines
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