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Why Is This '38 Merc Graded So High?

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Valued Member
United States
238 Posts
 Posted 10/31/2012  4:52 pm  Show Profile   Bookmark this reply Add rycolemet to your friends list
good question, I would not have guessed it was a proof.
Valued Member
United States
108 Posts
 Posted 10/31/2012  5:04 pm  Show Profile   Bookmark this reply Add jarubla to your friends list
If I posted this in the wrong sub forum, apologies....a '38 seems like a classic to me [grin]

-Jay
Bedrock of the Community
13014 Posts
 Posted 10/31/2012  5:10 pm  Show Profile   Bookmark this reply Add basebal21 to your friends list
The desired coin part is really different for each collector. A lot of people including myself wouldnt be interested in a coin covered like that, while a lot of others would like it. Its kind of like toning, some people love it some people hate it. Its really an individual thing.

The other thing too is that while it may not be some peoples favorite look, a damaged (for lack of a better term) coin does give people a chance to own a coin that otherwise would be out of their price range. This one didnt save enough for that to be the case but sometimes coins like that will go for significantly less than the same coin with nothing on it, so people will be interested in it to own a coin otherwise out of their price range. Again that wasnt the case here but in general that does happen
Rest in Peace
United States
7075 Posts
 Posted 10/31/2012  5:18 pm  Show Profile   Bookmark this reply Add Buddy to your friends list


I can't even guess what's on that coin but it isn't pretty.

Odd auction -- two of four coins pictured? Wouldn't do it.
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United States
3755 Posts
 Posted 10/31/2012  5:58 pm  Show Profile   Bookmark this reply Add smokeriderdon to your friends list
Yeah, that one baffles me too. I would not have guessed proof from the pic. In hand maybe. But regardless, I could not give that thing a 65, not with whatever that is all over it. I am with Buddy here. Only picturing two of four coins? Stay waaaaaayyyyyy away from that.
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United States
12437 Posts
 Posted 10/31/2012  6:14 pm  Show Profile   Bookmark this reply Add biokemist6 to your friends list

That is haze that typically develops on proofs that are stored improperly. It doesn't mean the coin is damaged, just that it has never been dipped or cleaned since its liberation from the original packaging. I would say that the coin would probably look nicer in hand.


Quote:
Only picturing two of four coins? Stay waaaaaayyyyyy away from that.

Since I am from St Louis, I am quite familiar with Scotsman Auctions. The majority of their auction lots are sold in-person, not online, and they are all available for inspection during the shows held in conjunction with an auction. They may not have a big national reputation but it is not some rinkydink outfit either, their auctions typically bring over $1 million(the auction a couple weeks ago realized a total of $2,007,507).
Edited by biokemist6
10/31/2012 6:14 pm
Bedrock of the Community
13014 Posts
 Posted 10/31/2012  6:17 pm  Show Profile   Bookmark this reply Add basebal21 to your friends list
After looking at it again I guess you can kind of see the proofness (maybe I just made up a word) but without the side by side that definitely wouldnt have been my first thought
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3184 Posts
 Posted 10/31/2012  6:26 pm  Show Profile   Bookmark this reply Add mkman123 to your friends list
I guess it developed ugly toning!! I don't like it
Rest in Peace
United States
7075 Posts
 Posted 10/31/2012  11:02 pm  Show Profile   Bookmark this reply Add Buddy to your friends list
biokemist6 Thanks for the info.

I've never bought a coin online. But I do shop around to see what's what.

But I am very lucky to have a HUGE coin shop just as few blocks from my house.
Valued Member
107 Posts
 Posted 11/01/2012  11:45 am  Show Profile   Bookmark this reply Add nicscoin to your friends list
ya looks like a proof to me, some dip or ammonia should fix it right up
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United States
3755 Posts
 Posted 11/01/2012  12:54 pm  Show Profile   Bookmark this reply Add smokeriderdon to your friends list
bio, OK, I am completely unfamiliar with them. Something like that is usually a stay away kind of sign.
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United States
3283 Posts
 Posted 11/01/2012  2:06 pm  Show Profile   Bookmark this reply Add upstate to your friends list
I would not have recognized either of those as a proof.
I'm actually more of a fan of the proof coins which are 1968 to present.
Can you tell money isn't my motivation when owning coins.
Valued Member
United States
108 Posts
 Posted 11/01/2012  5:25 pm  Show Profile   Bookmark this reply Add jarubla to your friends list
Cool all, thanks for the weigh ins.

biokemist6, I have nothing but nice things to say about Scotsman. They have treated me (as well as my spouse and our kids) great across multiple visits, even sometimes with no net gain to them at all (read: scouts for coin collecting questions, etc). I also really like that they send out the auction books before each event. makes for some great (and very drool worthy) reading. I will continue to send my business their way (I am silver/gold bull and soon to dip into numismatics).

-Jay
Valued Member
United States
108 Posts
 Posted 11/01/2012  5:29 pm  Show Profile   Bookmark this reply Add jarubla to your friends list
One last bit, the auction was one that a collector purchased (for $825, no less), and the thread designed not necessarily for acquiring these proofs, but to try and understand more about the outlier '38.

Again, I appreciate your responses!

-Jay
Pillar of the Community
United States
1770 Posts
 Posted 11/01/2012  7:47 pm  Show Profile   Bookmark this reply Add M0nks to your friends list
yea I personally dont see it but then again I wasnt the one who shelved out the dough for it so obviously they saw it as something else (proof)
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