I recently purchased an ANACS slabbed 1913-S Variety 2 AU55 Buffalo nickel. The coin is marked corroded on the slab heading, but I cannot find any corrosion on the coin. I tried taking pics, but was unsuccessful in capturing this coin correctly. In your honest opinion how much is the coin devalued by having the corroded marking?
RedBook shows the following prices for this coin: AU-50 values at $750 MS-60 values at $1000
$450 is probably a good deal. I've been watching these coins on eBay and even heavy environmental damage with original fields (no nic-a-date) are going for well over $200. If you think the coin looks good in hand, you paid just over half of RedBook and almost exactly on bluebook prices.
By the way, the last Buffalo nickel I bought had corrosion on the edge, so you might check there.
Congrats. 1913-S Type II is the last buffalo I need for my set. Been looking for a deal for about 3 months now.
AU bid is $520. Any detrimental phrases such as corroded, cleaned, scratched, environmental damage, etc always cut into the value. How much is up to the buyer. Without pictures it's hard to tell about your coin.
IMO, it all depends on how significant the corrosion is. If it is light enough that you could have the coin reslabbed as problem free, then you did well imo. A severely corroded coin would be valued less than you paid imo. We would need good pictures though to say anything for sure.
Congrats TSM on an AU specimen of this coin. I do not foresee me being able to obtain such a high grade yet. I started with low grade coins and have since upgraded all other coins to MS level coins. But the 1916 has evaded me for two or so years. I have been saving and with silver being up I am hoping to horse trade for something to get me started.
I have called a few of the coin dealers who are appearing at the show and let them know I am in the market. Hopefully it works out, but either way a day at the show is a good day.