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What Is The Effect Of Corrosion? 1873 H NFLD 5c

 
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Author Previous TopicReplies: 11 / Views: 403Next Topic  
Valued Member
Canada
465 Posts
 Posted 11/28/2020  11:14 am Show Profile   Bookmark this topic Add Silver101 to your friends list Get a Link to this Message
I am very interested in the NFLD key dates and the coin I've posted below is one of the most important of the lot. It also shows clear signs of environmental damage and this drops the eye appeal considerably. If you ignore the damage I think it's easily in the VF range, which would make it an expensive purchase: $3,000 CAD at least. The seller is asking $1,700 USD, which converts to ~$2,200 CAD. I'm not sure what to offer him...I think the asking price is too high but then, how do you balance the scarcity of the coin, it's relatively high grade (details notwithstanding) and the serious environmental damage?

Curious to hear your views folks... here's the coin I'm talking about.


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United States
53429 Posts
 Posted 11/28/2020  11:42 am  Show Profile   Bookmark this reply Add Coinfrog to your friends list Get a Link to this Reply
Personally, I've always preferred condition over rarity, especially in a case like this. I know many others feel differently.
Valued Member
Canada
465 Posts
 Posted 11/28/2020  11:53 am  Show Profile   Bookmark this reply Add Silver101 to your friends list Get a Link to this Reply
@coinfrog - well, they're sort of different issues but I get where you're coming from. My personal mantra is 'problem free'. I would take a problem free F12 over a bent EF any day... In this case I'm just amazed that the guy thinks this bullet-ridden coin could possibly be worth what he's asking for it.
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Canada
3638 Posts
 Posted 11/28/2020  12:58 pm  Show Profile   Check Pacificoin's eBay Listings Bookmark this reply Add Pacificoin to your friends list Get a Link to this Reply
Steer clear of this one and wait for a no issues example.
They come along infrequently , but your patience will be rewarded.
This pictured coin has environmental issues ( corrosion) .
There is an old saying about problem coins, "No problem
buying it , a real problem selling it " .
Valued Member
Canada
465 Posts
 Posted 11/28/2020  1:48 pm  Show Profile   Bookmark this reply Add Silver101 to your friends list Get a Link to this Reply
@Pacificoin - I was hoping you would chime in. I agree 100%. It's just surprising when people think that they can pass this thing off as a good buy. I could see a few hundred bucks to fill a specific hole. But >$2000 is insane.
New Member
Canada
49 Posts
 Posted 11/28/2020  7:24 pm  Show Profile   Bookmark this reply Add Silver Nickel to your friends list Get a Link to this Reply
The problem with scarce coins, its going to have some damage, and if not then its 1 in a million.
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Australia
17863 Posts
 Posted 11/28/2020  7:39 pm  Show Profile   Bookmark this reply Add sel_69l to your friends list Get a Link to this Reply
I take the same view as Coinfrog.

I think it is physical damage, not corrosion damage.
Doesn't matter very much; it is what it is anyway.

I once had a Roman aureus with a contemporary test cut.
I bought the coin cheap from Spinks in London, many decades ago, but was never completely happy with it.
Eventually, many years later, I was happy to sell it on.

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Canada
579 Posts
 Posted 11/30/2020  10:03 am  Show Profile   Check TheDeductible's eBay Listings Bookmark this reply Add TheDeductible to your friends list Get a Link to this Reply
This may be the finest example you come across for the next 5 years. But maybe not. The demand for this coin is strong.

EBay sales on the 1873 five cent go surprisingly high sometimes for examples that are fairly low quality.

Good luck with your decision. Its a very nice coin and I bet it would look awesome in hand. Perhaps the blown up image accentuates environmental damage that is otherwise hardly noticible. Then again, maybe its the opposite? You could always ask ask the seller for alternate photos?
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Canada
1089 Posts
 Posted 12/01/2020  10:28 am  Show Profile   Bookmark this reply Add 47P7 to your friends list Get a Link to this Reply
Just MhO:
if you are buying to eventually sell again, let it be.
If you are buying because you do not have it in your collection and want it, buy it by making a lower offer, explaining your reasons.
that is simple. And I have been operating under that for a long time.
Pacific: you are usually buying to resell, so your position is somewhat other than a collector to whom you wish to sell.
Oh yes, there are exceptions....
Valued Member
Canada
465 Posts
 Posted 12/01/2020  11:31 am  Show Profile   Bookmark this reply Add Silver101 to your friends list Get a Link to this Reply
I guess I would say that I'm buying for the love of the collections (like most of us) but the idea that I can sell all this some day before I kick off is lurking in my mind as well.
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Canada
3638 Posts
 Posted 12/01/2020  12:12 pm  Show Profile   Check Pacificoin's eBay Listings Bookmark this reply Add Pacificoin to your friends list Get a Link to this Reply
Silver ... remember buy the best you can afford with no problems and nice eye appeal .
If you like it , chances are it will appeal to others when the time comes to sell .
Stay away from problem coins , even for rarities .
If you are really keen on a nice example of this particular Newfoundland piece
contact Sandy Campbell of Proof Positive Coins .
Valued Member
Canada
465 Posts
 Posted 12/01/2020  1:22 pm  Show Profile   Bookmark this reply Add Silver101 to your friends list Get a Link to this Reply
I actually have five 1873 - one H, two obv 1 and two obv 2...mostly in the problem-free G6 - F12 range though one VF-35 (generously graded by PCGS I think) I'm slightly obsessed with the key date 5c and 10c. I initially considered this guy because I thought perhaps it would prove useful in a trade-up situation. But the majority opinion here (and this confirms my own view) is that this is unlikely to generate much interest in the majority of collectors.
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