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Chop Mark Trade Dollars

 
 
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 Posted 06/23/2019  7:54 pm Show Profile   Bookmark this topic Add Jaysun1327 to your friends list Get a Link to this Message
Thoughts on Chop marked Trade dollars?

Do the chop marks significantly decrease the value? I think these are interesting and wouldn't mind picking one up. But I've read they are faked often. Do the images below look like a legit coin?



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 Posted 06/23/2019  7:58 pm  Show Profile   Bookmark this reply Add moxking to your friends list Get a Link to this Reply
Trade dollars are one of the most counterfeit coin types.

I personally would never buy one without NGC or PCGS approval, even though most fakes can be easily identified with some education.

There is nothing wrong with original trade marks. Some even collect them specifically.
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 Posted 06/23/2019  8:24 pm  Show Profile   Bookmark this reply Add Coinfrog to your friends list Get a Link to this Reply
Agree with these comments. Indeed, valid chopmarks lessen the value considerably, especially where there are multiple imprints as here. Don't buy one raw, and don't pay much even in a legitimate holder.
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 Posted 06/23/2019  9:45 pm  Show Profile   Bookmark this reply Add Slider23 to your friends list Get a Link to this Reply
The coin does look genuine, but may have been cleaned. As noted, best to buy in TPG holder. I like PCGS as they straight grade Trade dollars with chop marks. NGC Details all chop marks.
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 Posted 06/23/2019  11:03 pm  Show Profile   Bookmark this reply Add macmercury to your friends list Get a Link to this Reply
Looks genuine, but as stated it may have been cleaned. I like Trade dollar chop marks coins, there are story and history to it.

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 Posted 06/23/2019  11:32 pm  Show Profile   Bookmark this reply Add basebal21 to your friends list Get a Link to this Reply

Quote:
Do the chop marks significantly decrease the value?


They go both ways. They can increase the value and they can decrease the value. Key dates with chops or top grades get hurt generally as those buyers want unchopped coins, but rare chops can increase it.

Do yourself a favor and buy and already graded coin from PCGS or the very least NGC when it comes to these. DO NOT try and go raw on these if you aren't an expert.
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 Posted 06/23/2019  11:33 pm  Show Profile   Bookmark this reply Add jimbucks to your friends list Get a Link to this Reply
Chop marks like these are major damage. This coin looks harshly cleaned. Value significantly reduced. Value probably around 50 bucks or so.
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 Posted 06/24/2019  03:15 am  Show Profile   Check spruett001's eBay Listings Bookmark this reply Add spruett001 to your friends list Get a Link to this Reply
I think the chop marks are interesting, but I know that Trade dollars are heavily counterfeited as well as the marks. I would only purchase a chopmarked example if it was TPG authenticated.
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 Posted 06/24/2019  11:39 am  Show Profile   Bookmark this reply Add GMS5 to your friends list Get a Link to this Reply
Whilst Jaysun1327's 1874 Chop marked Trade dollar looks legitimate, I myself would only buy them in an NGC or PCGS holder. I really like chop marks as it means the coin was used for it's intended purpose and gives the coin a back story. From my study of these coins I've found out that the bigger chop marks are usually from the "bankers" of the day, while the small Chops are from the Merchants. I've also found out that the people that used these coins in Asia often cleaned them before they were repatriated to the US so they would get "top dollar" for the silver, so any cleaned details coins are usually very old cleanings. Information on these coins is very limited as most books are out of print, and trying to translate the Chops is hard but fun. These coins are also creeping up in price I find. Pictures of mine are below. Again, I would only buy graded ones.




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 Posted 06/24/2019  12:51 pm  Show Profile   Bookmark this reply Add ExoGuy to your friends list Get a Link to this Reply
Akin to U.S. merchant counterstamps, Chinese chopmarks can increase or decrease the value of a piece. The value all depends upon a buyer's perspective; his having specific knowledge or lack thereof.

Understood that the vast majority of coin collectors view chopmarked Trade dollars as damaged coins or culls, there are serious collectors of these. The ability of collectors to spot a rare variety (Sheldon, Overton, etc.) of a coin in any given series or genre is an exercise of knowledge. To the student goes the spoils ...

Chopmark Collectors Club: http://www.chopmarks.com/info/chop_club.shtm

Colin Gulberg's book: 'Chopmarked Coins - A History'
https://www.coinbooks.org/esylum_v17n35a07.html


BTW .... Jaysun1327's coin sure looks legit to me.





Edited by ExoGuy
06/24/2019 12:53 pm
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 Posted 06/24/2019  7:58 pm  Show Profile   Bookmark this reply Add CitationSquirrel to your friends list Get a Link to this Reply
As many have said, the chop marks give it some history. Yes, they might decrease the value, but it does give the coin a story.
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 Posted 06/30/2019  6:38 pm  Show Profile   Bookmark this reply Add CoinsKelly to your friends list Get a Link to this Reply
I hope to acquire one but am a ninny and will only get a certified one. My feeling for something like this is that is a trend. Depending on where the market it, a chopmark will either improve or decrease non-key date.
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