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Should I Buy An AU Improperly Cleaned Coin?

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Author Previous TopicReplies: 24 / Views: 6,484Next Topic Page 2 of 2
Valued Member
United States
117 Posts
 Posted 03/21/2012  08:53 am  Show Profile   Bookmark this reply Add TheCoinGeezer to your friends list
Why all the secrecy about what the date is?
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Canada
10463 Posts
 Posted 03/21/2012  08:56 am  Show Profile   Check SPP-Ottawa's eBay Listings Bookmark this reply Add SPP-Ottawa to your friends list
Remember, this is a gold coin, the softest of any numismatic metal. Any circulated gold coin will appear cleaned, usually what I call 'pocket polish'. If it is a good deal, and a decent AU grade with eye-appeal, with a surviving number of 900, and you need that date... Then buy it.

Let me ask this question: how often does that date show up in shows/auctions, in grades AU or better?
"Discovery follows discovery, each both raising and answering questions, each ending a long search, and each providing the new instruments for a new search." -- J. Robert Oppenheimer

Content of this post is licensed under a Creative Commons Attribution-NonCommercial 3.0 Unported License. See: http://creativecommons.org/licenses...0/deed.en_US

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Canada
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 Posted 03/21/2012  09:53 am  Show Profile   Bookmark this reply Add DBM to your friends list
With the date hidden it looks like photos from one of those sites that sell random date cleaned,circulated double eagles for $1750 a pop
Valued Member
Canada
153 Posts
 Posted 03/21/2012  09:57 am  Show Profile   Bookmark this reply Add Toronto1 to your friends list
To SPP-Ottawa,

These are the latest 5 autions but they are MS62~65

Grade Price Date Firm Sale Lot # Cert
MS65 $83,375 Feb-2012 Ira & Larry Goldberg January 29 - February 1, 2012 The Pre-Long Beach Auction 2024 NGC

MS62 $10,638 Jan-2012 Stack's/Bowers The January 2012 Americana Sale 10761 NGC

MS66 $184,000 Jan-2012 Heritage 2012 January 4-8 US coins & Platinum Night FUN Signature Auction- Orlando #1166 4640 PCGS

MS64 $29,900 Jan-2012 Heritage 2012 January 4-8 US coins & Platinum Night FUN Signature Auction- Orlando #1166 5113 NGC

MS64+ $40,250 Jan-2012 Heritage 2012 January 4-8 US coins & Platinum Night FUN Signature Auction- Orlando #1166 5114 NGC
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 Posted 03/21/2012  10:31 am  Show Profile   Bookmark this reply Add DBM to your friends list
With 900 surviving (not scarce)and an MS62 selling for $10K,a circulated problem coin is probably worth less than a quarter of that,closer to BV than to $8K IMHO
New Member
Canada
48 Posts
 Posted 03/21/2012  10:56 am  Show Profile   Bookmark this reply Add numismateer to your friends list
Normally, I would say don't buy it, but If the cleaning is not too harsh, expect this American key date to still go quite high, probably more than you think to be a bargain.
Valued Member
Canada
371 Posts
 Posted 03/21/2012  12:32 pm  Show Profile   Bookmark this reply Add kitkat1858 to your friends list
I'm with TheCoinGeezer, why won't you tell us the year?
Valued Member
Canada
153 Posts
 Posted 03/21/2012  12:38 pm  Show Profile   Bookmark this reply Add Toronto1 to your friends list
To TheCoinGeezer and kitkat1858,

Sorry about that.

I am still thinking to buy or not, so cannot disclose the date now, but I guarantee it's not 1933..
Edited by Toronto1
03/21/2012 12:40 pm
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 Posted 03/21/2012  1:09 pm  Show Profile   Bookmark this reply Add oih82w8 to your friends list
Toronto1 does not want anyone to come in and swoop it away! I can't say that I blame 'em either.

A BIG clue was given with auction prices realized, if you want to do the homework.
Edited by oih82w8
03/21/2012 1:11 pm
Valued Member
United States
117 Posts
 Posted 03/21/2012  3:14 pm  Show Profile   Bookmark this reply Add TheCoinGeezer to your friends list

Quote:
I am still thinking to buy or not, so cannot disclose the date now, but I guarantee it's not 1933..

I don't know how you expect to get a cogent response then.
Plus you started this thread in the Canadian forum.
At any rate, the coin appears to have been harshly cleaned and polished.
Valued Member
Canada
153 Posts
 Posted 03/21/2012  9:33 pm  Show Profile   Bookmark this reply Add Toronto1 to your friends list
"Plus you started this thread in the Canadian forum."

Sorry, my bad, I shouldn't ask this question here.
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United States
14454 Posts
 Posted 03/22/2012  03:57 am  Show Profile   Bookmark this reply Add Bryan1315 to your friends list
it is a US coin so I moved it to the classic US coin section. Posting the date is not like posting a link to the sale so I don't really know what hiding the date accomplishes but to each his own. In my opinion I would not knowingly buy a cleaned coin just because they have no place in my collection. A cleaned coin could be worth 80% less than its problem free counterparts and it really depends on how many of those 900 are in problem free high grades like you mentioned as past sales. If most of them are left in high problem free grades then your coin in cleaned AU grade will be worth melt even if there were only 500 left. Chances are there isn't going to be 500 hard core collectors (much less 900) who has got to have that date in their collection, and the ones that do want that date will want a problem free coin in the highest grade they can afford
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 Posted 03/22/2012  6:04 pm  Show Profile   Bookmark this reply Add Namachieli to your friends list

Quote:
I'll buy any coin if the price is right. Some coins labeled "Improperly Cleaned" show no signs of cleaning at all while others have been scrubbed with steel wool.


Well said.

My avatar for instance... light Old cleaning, attractive re-toning, Very late die state coin (i love the character).

With 179k mintage and VF/XF details, I was glad to pay a fraction of its actual worth to have this wonder example of half dollar.

/swoon. I need to have a photography session with some of my favorites.

**Edit**
http://i.imgur.com/Jc3xX.jpg
Edited by Namachieli
03/22/2012 7:40 pm
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 Posted 03/22/2012  7:28 pm  Show Profile   Bookmark this reply Add D0ubl3Eagle to your friends list
Usually I stick to problem free coins, but I would be willing to buy a problem coin if the price is right and the eye appeal is there. Just make sure it is genuine as it appears to be an expensive coin.
Valued Member
United States
291 Posts
 Posted 03/22/2012  10:29 pm  Show Profile   Bookmark this reply Add usc96 to your friends list
I like me some Saints, but I'd pass on a cleaned one, even a 1925S like this one.
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