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Replies: 22 / Views: 4,144 |
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Valued Member
 United States
476 Posts |
I thought you guys were supposed the be the experts? That's why I asked after all.  There is very little remaining to the unassisted eye of the other digits, but I put this little picture together to compare with a full-date 1924 and I agree you can make out some remnants of the other digits.  Quote: F-12 details, but the weak date brings it down to a VG-8 IMO. Regardless, thanks for the opinions. This is probably a fair evaluation, I definitely think there are solid F12 details, but didn't know how the date issues would affect the overall grade.
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Pillar of the Community
United States
1882 Posts |
Quote: but didn't know how the date issues would affect the overall grade. That matter is up for debate. I think your coin does NOT get it's grade lowered to VG.
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Valued Member
 United States
476 Posts |
So what you're saying is the real question up for debate is " WHO is the expert?" 
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Pillar of the Community
United States
3294 Posts |
Well, you could send it to PCGS and they will give you their opinion, which many would accept, but for this coin, that would not really be all that cost effective.
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Rest in Peace
United States
4849 Posts |
Well, it all boils down to an opinion, and even the TPGs are very inconsistent as to how much a weak date should subtract from the grade. In general, I lean more towards Steve's opinion that it should not affect the grade techically. This is because a weak dated coin with F-12 details has the same amount of overall wear as one with a strong date. Just as a weakly struck coin with full luster will still receive an MS grade, even if the details are really only equivalent to an XF coin because of the strike.
However, what really matters is how much the coin will bring when sold. A weak dated coin that is techically F-12 will rarely ever bring F-12 money of an equivalent strong dated coin. So though it really shouldn't affect the techical grade, it often has a large effect on the "market" grade.....and TPGs can be inconsistent as to whether they put the techical grade or the market grade on the slab.
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Valued Member
United States
462 Posts |
I'm still fairly new to all of this and have never visited one of the local coin shops. How is junk silver priced, by the ounce? Do the dealers charge the current price of silver or do they have their own prices made up since the coins are only 90% silver? How many quarters were you able to get for the $168?
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Pillar of the Community
United States
1882 Posts |
Johnny summed that up nicely. I won't claim to be an expert, but have observed that the "experts" don't all agree on that topic.
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Valued Member
 United States
476 Posts |
I was mainly ribbing the "experts" here...certainly all that responded are well-respected posters at CCF, and I appreciate the input of each. Although this is a new arena of collecting for me, I do appreciate that I'm maybe looking at a $15 coin here. Just trying to learn what I can, and enjoying myself along the way. The $168 was face value of the quarters, ie. 672 of them. My dealer was getting 13x face for them, or $3.25 each as bullion. I think that's a reasonable price from what I've learned here, and is driven off the current market price for silver. In total it was over $2,000 of silver. I believe the "junk" silver is generally sold in a multiple of face value and some lots may be mixed denominations of dimes, quarters, halves, and dollars or separated by denomination. I settled up with him yesterday returning the unwanted ones, and traded 4 rolls of 40% halves at $45 each for the quarters I wanted to keep. So in reality I kept 53 90% silver quarters for a $40 investment as the halves were found in rolls/hunts. 
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Rest in Peace
United States
4849 Posts |
Searching through 672 silver quarters sounds like an absolute blast!
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Pillar of the Community
United States
1534 Posts |
I agree with Johnny;'s explanation. My first impression was that only the 4 was visible, which is why I graded it VG-8. Looking at it again, a VG-10 seems fair. It's only my opinion though, I understand why others would feel differently. Still a nice coin and definitely a nice find for 13x face. 
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Valued Member
United States
314 Posts |
Late getting into the discussion, but my first thought on seeing the coin was a nice Fine, but IMO it will not get a 3rd party grade assigned to it because of the date. I don't have alot of familiarity with weak date strikes on SLQ's, but this didn't look like a weak strike to me. It appears that something (i.e. a chemical) has been used on it and that would prevent a TPG from assigning anything other than a details grade. Weren't SLQ's notorious for having the date wear off first and this would appear like someone applied acid to try to bring up the other three digits. Just wondering if anyone else had this same kind of reaction upon first seeing the coin. Very nice coin, but with issues.
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Pillar of the Community
United States
1882 Posts |
Dcreek...yes, before 1925 the SLQ's were known for the date wearing out quickly. It was the high point on the coin. Johnny wasn't saying the coin had a weak strike. He was making a comparison to how weakly struck coins are graded. I don't see how the date area on this coin would be cause for a TPG to refuse grading. But of course this coin is not worth submitting. There are plenty of examples of TGP graded coins in higher grades than this one with the date almost completely gone. ( edited to get rid of double negative )
Edited by steve199 08/11/2010 10:55 pm
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Pillar of the Community
United States
1534 Posts |
Quote:Late getting into the discussion, but my first thought on seeing the coin was a nice Fine, but IMO it will not get a 3rd party grade assigned to it because of the date. I don't have alot of familiarity with weak date strikes on SLQ's, but this didn't look like a weak strike to me. It appears that something (i.e. a chemical) has been used on it and that would prevent a TPG from assigning anything other than a details grade. Weren't SLQ's notorious for having the date wear off first and this would appear like someone applied acid to try to bring up the other three digits. Just wondering if anyone else had this same kind of reaction upon first seeing the coin. Very nice coin, but with issues. The coin would definitely make it into a problem free slab in my opinion. No acid can bring out the date on an SLQ.
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Valued Member
 United States
476 Posts |
I am pretty certain from having it in hand that the date is NOT treated, I think it's more an issue of a shaky hand on the camera through a 10x loupe.
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Valued Member
United States
314 Posts |
Steve is right when he says there is no value in submitting it for TPG unless you just like to have the slabs. I'll stick with the opinion that it may not go into a problem free slab, but what they hey, I've certainly been wrong before. I submit to the theory that everyone has the right to be stupid with the problem being that some folks just abuse the privilege. Hope that's not me. 
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