Yikes! Just Did Major Purchase!

I can't add much to what has already been said except to reinforce the fact you made a solid purchase irrespective of the "war paint". My congratulations! Are you planning to hang onto it or resell it? If the latter, then I might suggest waiting a few years for it to appreciate. They ain't making any more of these and its value can't help but go up.

Fred

Definitely not common. Here is an analogy.

Suppose you were making chocolate chip cookies. However just as you are about to add the chips to the batter, you find out your kids ate all but three of the chocolate chips. So you add them anyway. Think of the chips as laminations in the final batch of cookies. A maximum of three cookies in the batch will have chips in them. The odds of the chocolate chips ending up in roughly the same place on any two of the three cookies is very small. More likely is that each of the cookies with chips in them will have them in different places on the cookie, and thus be unique. So you may find other 3-legged buffaloes with a lamination, but the odds of it being in the same place on the coin and looking like war paint is very small.

Really nice coin and not exactly something you'ld find to often. One nice thing about that coin is it's popularity. That is the one thing about it that makes it's value do nothing but go up constantly. You'll never be sorry about that coin.

Nice coin. I'm with those that wouldn't mind owning it because of the "problem". If two were laying side by side and I could pick I'd rather have the lamination error. I'll bet one day you'll tell someone about this coin; "would you believe I only gave $999 for this?"

Hang on to it!

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quote:Are you planning to hang onto it or resell it?



Definately hang on to it. That doesn't mean I vow never to sell it though. If in a few (or several or more) years it takes a sharp spike in value, and I happen to need the money for pragmatic reasons then I might sell it

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Precisely my attitude, especially with high-value coins. I much prefer to keep them as part of my collection (I like to show them off to selected friends), but I always keep in the back of my mind that I might have to sell them someday if times get tough. Times would have to get mighty tough before I'd sell a 3-legged buffalo. Alternatively, I have hundreds of coins (and paper money) that I would never sell because their value is so low that it would cost me more to sell them than they would be worth (e.g., most of my Lincoln cents, Mercury dimes, Jefferson nickels, occupation currency). These will be my legacy to whomever in my family shows any interest.

WOW what a gorgeous coin! Definitely hang on to it. It's quite striking (pun intended) for the grade and will command a premium no matter when and if you decide to sell it.

As was elsewhere noted, lamination is a defect in the planchet, so it does not affect the grade, and is not be considered a "problem" which would prevent it from being graded by a TPG.

I'm very grateful to T360 for pointing out that these are single-coin issues (i.e., not a variety such as, well, your 3-legged Buffalo). I didn't know that but should have if I had thought about it. But doesn't that make it an "error"?

Thanks for the insight, t360. Though I'm not an invester I definately intended to buy a coin at a fair price that will likely appreciate. Most "problem free", slabbed AU Buffalos are going for $1200-$1500, judging from my searches.

I got mine for a pretty darn low price, probably because of the Lamination. I've looked up other lamination coins and many of them are pretty dramatic, and definately a negative unless you specifically want one as as curiosity.

This particular example is very unique in a couple of ways. It's a beautiful strike with excellent eye appeal (IMO), the lamination is very mild AND it's positioned in a way that actually adds to the eye appeal of the coin (again, IMO).

I have a week to decide whether or not to keep it or return it. I'm going to consult my favorite dealer when it arrives. The guys is extremely knowledgable and I trust him. So long as the price I paid is fair, and it will likely hold/appreciate in value... I absolutely love the uniqueness of this 3-Leg.