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Bedrock of the Community
 United States
18720 Posts |
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Bedrock of the Community
United States
12057 Posts |
AU details, extensive environmental damage. If you deduct a conservative 70% for the issues it's around a $60 coin to the right buyer.
Member ANA - EAC - TNA - SSDC - CCT #890 "Most of the things worth doing in the world had been declared impossible before they were done." -- Louis D. Brandeis |
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Pillar of the Community
United States
2589 Posts |
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Pillar of the Community
United States
5828 Posts |
AU Details, $40 in current condition.
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New Member
United States
46 Posts |
Love the details. Obverse is in rough shape, with some pretty bizarre looking damage. I really wonder how that happened. Not a bad type coin though, could work well in a 7070.
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Pillar of the Community
United States
6370 Posts |
Remind me to never try to sell you guys details coins because you all lowball like crazy. Is there a contest to see who would pay the lowest price for a details coin? What you would pay for it at this given time is not necessarily what someone else would pay for it. In my experience, this kind of damage makes a coin worth 50-60% of its value, so $75-120 is not unreasonable, but expect the lower end of this range. I just sold an 1851 Half Cent for about 50% of its value that had similar damage, just to satisfy you naysayers. |
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Pillar of the Community
United States
4989 Posts |
Not a bad coin. Looks like it has been dipped and there is a bit of obverse pitting but the AU detail is nice. 50-60% off market price seems reasonable given the damage. Not sure what these are trading at but PCGS price guide has $265 for an 1858 in AU so I would say $125 or so.
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Pillar of the Community
United States
709 Posts |
The PCGS price guide is for PCGS graded coins, which this is not. Also, past sales indicate PCGS AU50's selling for around $200 and NGC AU50's selling for around $170. That puts the 50% range at $85 to $100. But can you guarantee that? Of course not.
Nobody knows how much other people are willing to pay at a given time. There are always people that might bid on cleaned/damaged coins up to retail value, but that is far from guaranteed. All we can really say is what each of us are willing to pay, or a very general safe floor - details coins are the most unpredictable. I would agree that $75 is at least a safe floor for what to expect. I myself am just simply not interested in a details coin like this so my price would be a lot lower.
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Bedrock of the Community
United States
36905 Posts |
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Rest in Peace
United States
17900 Posts |
As to the coin, I agree with nearly everyone's assessment of AU with evil details.
I believe the longer you collect, the more you shy away from really serious damage. When you are hunting your first Flying Eagle to fill your 7070 this coin is a winner because it has lots of design elements strongly presented and can be had for roughly half of what one would sell for without that damage.
But if you've had a half dozen Flying Eagles over the years, it's less likely that something with this kind of damage will attract you.
I have a slogan taped to the top of my screen, which is:
IF IT AIN'T PURTY, DON'T BUY IT AT ANY PRICE
And I really do mean it. When I look at my collection I want to love every coin. I don't want to look at one and say ickkiy poo poo, must get rid of it.
By the same standards it really depends on what the individual loves, or not. I am perfectly happy accepting a once dipped and retoned bust half, while someone else hates any cleaning on any coin with a passion.
As has been stated, the price at the end of the debate is all that matters.
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Bedrock of the Community
United States
12057 Posts |
- It's worth what someone pays for it/what it sells for.
- It grades what someone will pay for it. Grades don't sell coins, prices do. If you say it's an XF45 and I say it's a VF20 and we both say $100, it's a deal, regardless of the "grade."
- If you don't like a coin, it will always be too expensive. (Repulsive!)
- If you're in love with a coin, be careful, because it will almost always appear to be a great deal, even when it's not. (Impulsive!)
Coin buyers, a few types:
1. Some people don't know what damaged/details coins are, or what a grade is, and pay whatever the dealer asks for the shiny round thing.
2. Some people are okay with damaged/details coins and pay by technical grade.
3. Some people are still okay with damaged/details coins but pay less depending on how bad the damage is.
4. Some people will only buy a damaged/details coin if it is so rare as to be prohibitively expensive or difficult to locate in any nicer grade.
5. Some people will not buy a coin with any problems at any price at all, no matter how cheap.
I'm in between a low #3 to a #5 depending on the coin. To me, that Eagle cent isn't worth $1. Buyers #1, #2, and #3 above will pay retail or some percentage thereof. A hardcore #5 wouldn't take it for free because they only want absolutely perfect coins in a given grade.
It's not a matter of "lowballing" people; it's a matter of what type of collector they are. A seller who doesn't mind details coins/doesn't care about damage or who straight grades on technical details would think a $60 offer is lowballing, but there's enough #1 and #2 buyers out there that someone will buy it anyway and be thrilled with it.
Member ANA - EAC - TNA - SSDC - CCT #890 "Most of the things worth doing in the world had been declared impossible before they were done." -- Louis D. Brandeis |
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Bedrock of the Community
United States
94367 Posts |
AU-55 details. I fully agree with paralyse and mox, and find damaged coins most unappealing at any price. I would rather have one common top-drawer coin in any series than a dozen damaged scarce ones in the same series.
As to the value of a damaged coin, I think everyone here is just expressing their subjective opinion, no big deal.
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Pillar of the Community
United States
1691 Posts |
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Bedrock of the Community
Canada
11922 Posts |
I would think AU-58 Details.
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Pillar of the Community
United States
4989 Posts |
Some details coins ARE terrible and not worth $1. I don't think this example falls into that category. It has tremendous detail on the Eagle feathers, which is the key feature of a Flying Eagle cent, and only one of the obverse defects is in that area. The wear pattern is consistent with high AU and there are no signs of an abrasive cleaning. There is no graffiti, jewelry mounts that go all the way through the coin, active verdigris, or whole surface damage. The damage that is present is concentrated in a few obverse pits. Only one of them is in a focal area and I feel the size of the pitting is exaggerated by the extreme magnification of the first photo. Not saying this coin deserves full AU money. It doesn't. But 50% of market is very reasonable. I would certainly prefer it to a VG or F example where all the details are practically worn flat. |
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Posted 02/18/2016 9:07 pm
