Allenciox - Cleaned Coin Buying Lesson

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Author	Replies: 6 / Views: 1,322
Prethen Pillar of the Community United States 3222 Posts	Posted 06/30/2007 4:59 pm I thought that this thread about buying a cleaned coin I started is appropriate for this forum also: https://www.coincommunity.com/forum...PIC_ID=16555. As I noted in the thread, I deliberately bought it cleaned. But, as you can tell in the pictures, it ain't too obvious to tell. You have to be careful, especially buying in ebay auctions from dealers you're not familiar with. Ask a lot of questions, even if everything looks good. It could still be cleaned! Report this Post to the Staff

allenciox New Member United States 16 Posts	Posted 07/02/2007 2:34 pm Thanks, Prethen, for the posting. By the way, I checked with a local dealer this weekend, he showed me some examples of coins --- some which had been cleaned and some that hadn't to help me identify the cleaned ones (I didn't do very well). He mentioned that he thought it is something that mostly you learn with experience. He claimed that generally he considers a cleaned coin to be worth about a grade lower than the same amount of wear would be uncleaned --- so an AU would be worth an XF and a F about a VG. Would you all agree? Report this Post to the Staff
Morgan Fred Rest in Peace United States 2684 Posts	Posted 07/02/2007 2:44 pm quote: He claimed that generally he considers a cleaned coin to be worth about a grade lower than the same amount of wear would be uncleaned --- so an AU would be worth an XF and a F about a VG. Would you all agree? No. As a rule of thumb with many exceptions for less common coins and the method of cleaning, a cleaned coin will lower the value 75% to 90% or more (down to melt value) over an uncleaned coin. Only ANACS among the top 4 TPGs will slab a cleaned coin and give it a net grade (which won't be near the uncleaned grade) thus giving it a little more value over the same cleaned raw coin. Report this Post to the Staff
Prethen Pillar of the Community United States 3222 Posts	Posted 07/02/2007 3:54 pm No, I don't agree. A dealer might say that for a coin he's selling, but I'd betcha dollars to donuts that he'd grade it way down if you tried selling him the same coin. I don't even want a cleaned coin for virtually any price (with RARE exception like my linked thread for that 1865 3CN). I would basically price the coin at bullion, unless there's a strong basal value for it then I'd price it at least two grade levels below its technical grade. Report this Post to the Staff
hunter20ga Pillar of the Community United States 1173 Posts	Posted 07/03/2007 2:42 pm Well, I may be the exception that proves the rule, but I tend to look for coins for my collection from the first 75 - 100 years of this country's history. The surviving population of coins from any series, year and mint can be quite low, especially when looking for "problem free" circulated coins. Many of the survivors have been cleaned at some point in their history. So long as it isn't a harsh cleaning, I deduct something from the price, but am often happy to add an otherwise problem free coin to my collection. For me, eye appeal, balance, and the lack of digs, verdigris or other forms of corrosion, pitting and porosity are more important than gentle cleaning in these early coins. Looking at 20th century coins, however, and I get a whole lot pickier, especially from 1940 onward. Each to his/her own. Edited by hunter20ga 07/03/2007 2:44 pm Report this Post to the Staff
Benji Valued Member United States 459 Posts	Posted 07/03/2007 3:44 pm I agree with all of you (kinda hard to believe with me always playing Devil's Advocate). MorganFred (I am assuming that your area of focus are Morgan $1) is correct if he is referring to a cleaned Morgan's value being reduced to melt due to the fact that pristine gems are so widely available with the exception of CC, key dates, etc. With this exception Prethen's point is validated. Hunter's view from the collector's perspective ultimately rules supreme as they set the market $ with what they are willing to spend and where their standards are on that stopper coin to complete a set. Statistically there is smaller difference in price between cleaned and original skinned common coins, most collectors pay the small difference for for the latter. On key date coins there is a substantial greater difference in price between cleaned/uncleaned, but that cleaned price is still out of reach of many collectors and nowhere near melt. Well, I am off to Moab to huck some cracks (not die). If I don't spend all my money on drugs and petro, and don't break any bones; I hope to return with a real nice worn-out busty gal for your viewing pleasure (and I am not referring to my baby's momma). Forgive my drivel and enjoy the holiday. Cheers Report this Post to the Staff
biokemist6 Bedrock of the Community United States 12437 Posts	Posted 07/03/2007 4:19 pm quote: Well, I am off to Moab to huck some cracks (not die) Sounds like someone is a rock climber- trad, sport, or both? Enjoy Moab and stay cool, I think it is supposed to be 100+ this week. Report this Post to the Staff
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