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Effect Of Planchet Defects On Value Of Coins

 
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Author Previous TopicReplies: 10 / Views: 394Next Topic  
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 Posted 04/27/2022  09:26 am Show Profile   Bookmark this topic Add colonelgreen to your friends list Get a Link to this Message
I bought a Flying Eagle cent that graded MS numerically but noted the planchet defect. Is that a necessity for the grading services to note on the holder? How does it affect value? We're talking missing metal or similar situations.
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 Posted 04/27/2022  09:33 am  Show Profile   Bookmark this reply Add Wrekkdd to your friends list Get a Link to this Reply
Did they note a planchet defect or a details grade? A planchet defect would be an error and I believe you have to ask for attribution of errors specifically. If you didn't ask them to grade the coin and error then I assume you are talking about a details coin? Pictures would help.
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 Posted 04/27/2022  09:52 am  Show Profile   Bookmark this reply Add John1 to your friends list Get a Link to this Reply
( I'm no pro, it's just my humble opinion )
Searched 6.5 +/- Million Cents Since 1971
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 Posted 04/27/2022  09:58 am  Show Profile   Bookmark this reply Add colonelgreen to your friends list Get a Link to this Reply
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 Posted 04/27/2022  10:08 am  Show Profile   Bookmark this reply Add Coinfrog to your friends list Get a Link to this Reply
Not getting any images.



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 Posted 04/27/2022  11:37 am  Show Profile   Bookmark this reply Add Spence to your friends list Get a Link to this Reply
Maybe it is that divot above the eagle? If so, then I'd be glad the TPG noted it as a flaw rather than not mentioning anything as a pretty good assumption would be damage.
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 Posted 04/27/2022  11:57 am  Show Profile   Bookmark this reply Add Slider23 to your friends list Get a Link to this Reply
The TPG's do not always note planchet flaws on the holders. The planchet flaw typically decreases the value of the coin and there are a lot of variables to determine how much.
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 Posted 04/27/2022  1:27 pm  Show Profile   Bookmark this reply Add thq to your friends list Get a Link to this Reply
I'm curious how the TPG treatment worked. I have a raw XF-AU 1893-CC eagle with a similar flaw underneath one of the stars. The star struck fully on top of the flaw, so it's a bit of a curio, but it is noticeable. It's interesting to me that your coin received a numeric grade instead of a details grade. You can't hide a flaw like this, and the note on the tag indicates a pre-strike impairment.

How much it affects the price is another matter. It's not as objectionable as post mint damage like corrosion or scratches. But it does detract from the appearance. Maybe 25% off an unflawed example? Looking at MS 1857's on PCGS, that's the same as taking a hit on the grade from a 62 to a 60 value-wise. This is not a rare coin, and collectors have plenty of examples to choose from.
"Two minutes ago I would have sold my chances for a tired dime." Fred Astaire
Edited by thq
04/27/2022 1:37 pm
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 Posted 04/27/2022  6:35 pm  Show Profile   Bookmark this reply Add colonelgreen to your friends list Get a Link to this Reply
You could try Anacs or Icg, a lot cheaper and the error attribution won't add much cost to the submission. If it was mint made very likely they will give it a numerical grade. In my case Icg charged nothing for the error note.
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 Posted 04/27/2022  10:40 pm  Show Profile   Check westcoin's eBay Listings Bookmark this reply Add westcoin to your friends list Get a Link to this Reply
and great question (and username)!

This is exactly why there is EAC grading for the early copper coinage. It's almost always net graded and defects are taken into account. There isn't a real easy answer though. ICG was always pretty good about noting planchet issues and flaws in their early days. (Side note my old coin business partner and high school friend started ICG but no longer has anything to do with them).

Planchet flaws will always affect the price of a coin, though it may or may not be mentioned on a TPG holder label.The EAC Grading Guide book goes into this aspect a little, it's always hard to say the value as each flaw is unique (usually) and different. Is it in a main focal point on the coin? Is it messing up a major part of the design, or is it hidden in an out of the way area of the coin's design? All of these would have cause to affect pricing. Sadly there is no easy way or generic way to tell this. It's always going to be on a coin by coin basis.

I direct you to this old thread here at CCF:
http://goccf.com/t/394331#3374316
to see more about the EAC Copper Grading Guide book. It's just now out of print and getting hard to find, though copies still pop up around the $50-75 range at the usual places, abeBooks, eBay, Kolbe & Fanning, EarlyCents.com, Charles Davis, etc. Worth getting a copy if you have any interest in early copper coinage, colonials, half and large cents, etc. before the book breaks the $100 barrier, which it will like all the better reference books. They printed a lot more of these than most other reference books around so prices are still low IMO.
"Buy the Book Before You Buy the Coin" - Aaron R. Feldman - "And read it" - Me 2013!
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Edited by westcoin
04/27/2022 10:40 pm
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