How Much Does A Problem Impact Coin Value

A dealer at a recent show I went to said that cleaning knocks coins down 2 grades, according to most people he deals with.

I recently bought a certified cleaned coin that I paid about 1/3 what it would have gone for non-cleaned. I also bought a Peace dollar with a small scratch on the obv - that is hard to find - at just above melt when it otherwise would go for at least $180.

I tend to stay away from most "obviously" damaged or cleaned coins but these two were otherwise real beauties. Some sellers seem to still want list even for obvious damage, but most are willing to reduce the price substantially.

Think of a used car you want to buy. You look it over and notice it is dirty. How much do you deduct for that? You find a dent in one fender. How much do you deduct for that?
Tires are a bit worn but by how much? How do you deduct for that? Then you notice the condition of the seats, under the hood, trunk condition, spare tire(s) and on and on. So where do you stop. Meanwhile someone walks up and buys it.

At a coin show last Sunday a dealer I know showed me a Walking Liberty half, 1919 in about AU and he said no one wanted it at all. I asked why and he said can't you see the damage on the edges? I didn't even notice the edges were all smoothed over as if it was in a charm or pendant. If put in an Album, no one would have seen that at all. Just to many types of damage to ever figure out a pricing system.

Evrybody has their own opinion.

It would heavily depend on the series of coin, the year, mintmark and how readily available it is in the market in all grades.

Thge deduction can vary. As Carl said depending on the severity of the type of damage, the deduction of grades could vary from -1 to -20 as an example. Each coin would have to be deducted on its own merits.

So there can not be a definate grade point deduction that can be used as a standard

A polished coin loses some of its material, not to mention damages the collector value. Melt value would be a gift. I would even go as far as to say that cleaned coins should be boycotted unless marked as such, because they misrepresent the coin (it was tried to be improved upon, fraudulently). I would generally say that if an imperfection is major then the coin loses all collector value, save for key-dates. Minor damage can mostly be attributed to handling and circulation - all good features, as no one in their right mind would simulate a circulated coin via a mint-state coin - the value would drop anyways. (Hope this puts it into perspective. I view coins as "releases" by government mints of standard monetary units with potential collectors' value, factoring in scarsity and collectors' demand with eye appeal.)

(Threads exist as current event discussions. To refer to a past discussion is a bit static. Imagine if someone were discussing atheism and was interrupted by a bibliography of references that you should 'just go read'. There is no definite answer, of course, and every situation is different, which is exactly why we should continue dicussing it here in the present and not in a three year old thread. Not everyone is on the "same page" as the rest.) - Trying to put that in a postive way.

COINS ARE PROBLEMS......Needless to say, it just depends on the series, and what contamination is upon them...I am saying this to the 80 to 100 year old collector...as the ancients already know....MOST have been cleaned in some acceptable form or another to retain some sort of luster withing there grade, my meaning is a
G4 coins should NEVER look MS....such is cleaning...they have done for decades to try to match the wear with the luster to enhance the coin..
to the point that an "original coin" is discounted as it has been over toned(GEE? years of oxidation,could have it dulled it?)
Mean while others have there own lemon juice formula to keep the luster looking "just right" for an 1827 coin. or so
to make it look "MINT STATE"....They have all been cleaned............just depends on who you are when you submitt it...

I had a great example, and it wasn't even damage. I had an 1867 IHC. It was obviously uncirculated, no evidence of wear and good RB color. Most of UNITED was unreadable, as was the corresponding area on the reverse, IOW, a defective planchet.

If that error was on a common coin, it might be worth $5-10, but even a G4 would be worth many times that much. The customer (who was serious enough to tote around a stereo microscope) paid the full MS60 price, because he knew that coin just doesn't come in common date rolls.

I used to sell acid-dated buffalos for 1/3 of G price.

I saw an auction by a guy who specializes in them, and he got like 25% of F for one.

It all depends on what the buyers are looking for. I had a lady who would only buy them if the Indian smiled (somewhere around VG/F.)