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1841 O Seated Liberty Dime -Is This Not Worth Grading

 
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Author Previous TopicReplies: 9 / Views: 337Next Topic  
New Member
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 Posted 06/15/2021  5:59 pm Show Profile   Bookmark this topic Add Newby Numis to your friends list Get a Link to this Message
Okay I buy this coin from this picture


I receive it and look at it:




Then I notice this under Magnification:



I complain that the black on the coin appears to have obstructed the view of this deep scratch. They say they will take it back. Is it worth grading or do I send it back? Please help.
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 Posted 06/15/2021  6:01 pm  Show Profile   Bookmark this reply Add Newby Numis to your friends list Get a Link to this Reply
Oh, I bought it for $72.
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 Posted 06/15/2021  6:07 pm  Show Profile   Bookmark this reply Add Coinfrog to your friends list Get a Link to this Reply
Fair enough price, let's see how others grade it. I'll say EF-45 straight.



to the CCF!
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 Posted 06/15/2021  6:12 pm  Show Profile   Bookmark this reply Add Newby Numis to your friends list Get a Link to this Reply
Thanks coinfrog, That is where I saw it, but does this deep scratch dramatically lower it?
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 Posted 06/15/2021  6:39 pm  Show Profile   Bookmark this reply Add Oldfordman to your friends list Get a Link to this Reply
Some. I still think you got a fair price. Would have been a little higher without the scratch.
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 Posted 06/15/2021  7:39 pm  Show Profile   Check BigSilver's eBay Listings Bookmark this reply Add BigSilver to your friends list Get a Link to this Reply
My opinion. The seller was not in the wrong at all. In your picture, without magnification, the scratch is still not visible. No reason to assume that the seller was trying to hide anything.
I also think you got this for a good price. But I see no reason to get it graded.
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 Posted 06/15/2021  7:47 pm  Show Profile   Bookmark this reply Add Newby Numis to your friends list Get a Link to this Reply
On the photo from the auction, above the first star on the left hand side, is a small black line. Even when enlarged on the photo on the auction website all that could be seen is that black line. That black line is a darker black than the rest of the patina on the coin (as if filled in by a black Marker). It is my opinion that this was done intentionally to hide this deep scratch that reduces the overall price of the coin. After careful consideration I am deciding to keep the coin, however I was not able to make my bidding decision accurately due to, what I believe to be an apparent intentional obfuscation. And again without magnification you can see the line is darker. Big Silver, isn't the goal of have coins graded by an independent 3rd party to help determine the real worth of coins? I thought if a coin is worth over a couple of hundred dollars it would make sense to have them slabbed?
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 Posted 06/15/2021  8:05 pm  Show Profile   Check BigSilver's eBay Listings Bookmark this reply Add BigSilver to your friends list Get a Link to this Reply

Quote:
isn't the goal of have coins graded by an independent 3rd party to help determine the real worth of coins?

Here is where opinions come into the discussion.
My opinion is that the only reason to get a coin graded is to increase its resale value. If you plan on selling a coin, even if that is not an imminent plan, and the price of said coin if sold raw will be notably less than the price of same coin sold graded minus the cost of grading, then it is worth grading. I don't see that being the case here. I could be wrong about my general view on grading, and I could be wrong about my application of said rule to this particular coin, but that is the logic behind my answer.
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 Posted 06/15/2021  8:44 pm  Show Profile   Check BH1964's eBay Listings Bookmark this reply Add BH1964 to your friends list Get a Link to this Reply
Absolutely not worth grading. Why throw more money at it with little to gain? If you like then keep it, if not return it.

That tiny scratch on the back is nothing of note imo. I agree it's an XF and worth about what you paid or maybe slightly more.
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 Posted 06/15/2021  11:31 pm  Show Profile   Bookmark this reply Add Earle42 to your friends list Get a Link to this Reply
If a person wants a coin in a slab b/c they just like having slabbed coins, then fine...no problem.

But a person who is going to get a coin graded to sell it will be disappointed and lose money unless they understand:
1. Some companies require a membership that will add significantly to the cost of the slab. Check the company policies.

2. There is no verifiable science at all behind grading. A slabbed coin only shows the opinions of the graders...and this can vary depending on all the factors we humans face in life (bad day?).

3. A slabbed coin broken out and resubmitted even to the same company is never guaranteed the same grade again. In other words, the assigned values paid disappear when a coin is broken out...the prices paid are not about the coin itself, but about the coin+slab+label.

4. Not even the most experienced dealers who live, eat, drink, breath and sleep coins can tell what a grading company will assign to a coin...again...its all subjective. Watch youtube vids of *dealers* getting back coin lots and not understanding why the company did what they did. It is a gamble.

5. Take into account any selling fees such as eBay fees and Paypal fees.

6. Know the grade that the slab must show to be worth enough to cover all the above costs mentioned.

This is NOT saying not to use the companies.
It is saying that the very mistaken but prevalent mindset that collectors need to look at every coin through the glasses of "is this a slab worthy coin?" is what makes a lot of disappointment ($ loss) for submitters of coins, and a lot of business for the companies.

Proof of all of the above this is the huge amount of face value coins in slabs and the amount of existing slabbed coins not worth the cost it took to slab them.

Just be educated and do the homework.
The slabbed Half dollar No FG farce: Download No-FG half vs. Grading Company Claims report here:
https://tinyurl.com/yalrstjz or higher resolution version: https://tinyurl.com/y7rksxu8

- How much squash could a Sasquatch squash if a Sasquatch would squash squash?
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