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Replies: 7 / Views: 1,304 |
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Valued Member
United States
223 Posts |
I have recently decided to start buying semi and key date coins in different series. I usually buy from a coin shop I trust and I tend to like raw coins. But recently I picked up a few coins from them and it turns out they were cleaned. I can't totally complain as the price was still pretty good even in cleaned condition.
After finding out they were cleaned I'm starting to think about abandoning raw coins and get only slabbed coins. Of course this would be only keys or semi-keys. I'm still planning on buying raw coins, just cheaper ones. Also I'm starting to think about converting all my raw Morgans into graded ones as well.
Is this logical or am I way over my head? My reason for thinking this way is not purely because of the raw coins I purchased. Its more of a way to get the most out my collection. And also to make sure there are no AT or cleaned coins.
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Valued Member
United States
458 Posts |
If you are buying key or semi key coins, I would only buy them slabbed. This is due to the high prices of the coins, and I personally would hate to pay a lot of money for a coin and then later find out it had been cleaned and was worth way less.
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Bedrock of the Community
Australia
21794 Posts |
I made up a type set of Australian coins, where each type was represented by a key date only.
That's what you may call an obtuse collecting attitude.
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Valued Member
United States
458 Posts |
^ Sounds like a good idea for me. Only American coins interest me though.
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Bedrock of the Community
United States
20753 Posts |
If your purchasing those coins for a collection, what difference does it make if they have been cleaned? If the cleaning was done so slightly that you didn't notice it when buying, possibly not enough cleaning to worry about. Naturally if your only in this for an investment, then even that minor cleaning, by todays standards, not to good. If the cleaning bothers you, just put the coins on a kitchen window sill for a few months. Nturally the results are depending on several things. The amount of cooking. Window open or closed. Temperature in the room. Eventually the coins will tone down to almost look normal. As I said though, for a collection, your probably getting them cheap enough to compensate for that cleaning. Remember that when you purchase a coin in a slab, there is no guarantee it too has not gone through a mild cleaning and that was missed by the TPGS. If for a collection, be happy with what you have. This coin collecting hobby is supposed to be fun.
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Pillar of the Community
United States
3486 Posts |
There is nothing wrong with your logic as far as it goes. I'd just like to take it a few steps further.
"I have recently decided to start buying semi and key date coins in different series." Why? For investment or for your own personal enjoyment? just carl gave you a definitive answer as to the difference. Pay attention to his advice.
"I usually buy from a coin shop I trust and I tend to like raw coins. But recently I picked up a few coins from them and it turns out they were cleaned." OK. Have you spoken to this dealer, explaining your disappointment? Perhaps a simple, "In the future, only show me raw coins that have not been cleaned." will tell you by way of examination whether or not you might continue to do business with them. Of course, this will require you to learn more and more about detecting cleaned coins.
"After finding out they were cleaned I'm starting to think about abandoning raw coins and get only slabbed coins." Here, you are going too far in the wrong direction. I just recently spent in excess of a grand on two, raw nickels. I am confident that they are just fine. But I also bought another nickel [ from a different dealer ] that, upon closer inspection, has been cleaned. I am out $19 on that one. Lesson: you will make mistakes, just make them on the cheaper coins. I STILL DO! [and so do many dealers who have been in the business for years]
"Its more of a way to get the most out my collection." And there you have it, COMET - you must ask yourself by what criteria you judge "the best way to get the most." And do not think that you will not change these criteria over time. It is a guarantee that as your needs change your goals will change.
Look, coin collecting is supposed to be fun. And it is.
If I were to actually give you advice I would want to know just what series of coins are of interest to you. The dollar experts will help you with the Morgans. Any more details you care to give?
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Bedrock of the Community
13014 Posts |
I personally only collect slabbed coins because I want them all to have the same appearance and I wouldnt be comfortable buying high value coins raw.
I think it would be a good idea to get the more expensive ones as already slabbed.
Yes the TPGs can miss a cleaning, but the chances of them missing it are MUCH lower than of you missing it. Nothings perfect but you do get more security with the slabbed coins.
Not sure what coins you had in mind but if you were to be spending hundreds of dollars or more on a coin or even a hundred dollars I would go with the slabbed ones. At the very least they at least stand behind their work and will buy back their mistakes if it turns out at a later date they did miss something.
That said not all TPGs are the same and I would suggest sticking to PCGS or NGC as they have taken over the market and appear to be the ones that are here to stay for the long haul
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Valued Member
 United States
223 Posts |
Thanks for the advice. My main collection are Morgan dollars, these I usually don't have a problem with when it comes to detecting cleaned or altered and such. But when it comes to other series sometimes I get confused as I am less knowledgable, so I can't completely blame the dealer. In this case it was Peace dollars. I'm not looking into making money on coins but I do want to have un-cleaned coins for my collection. I'm pretty sure the dealer would take the coins back if I asked him. But again I would like the keep these for my collection and learn how to spot cleaned Peace dollars using these coins.
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Replies: 7 / Views: 1,304 |
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