I gather that this one is about F12. Thoughts? Also, what do you make of the marks moving across the face of the coin? Does this indicate a previous cleaning?
Yeah, I already decided to pass on it. I assume that abrasive cleaning like that will normally knock it down 4 to 6 points on a grading scale in that range? That is what I am still trying to figure out in my grading practice!
Some collectors "net grade" coins for problems, some give a "details" grade and describe the problems.
I prefer the latter. Consider 1912-S and 1894 Liberty nickels, both with F-12 details and the exact same "problems." A net grade of G-4 reduces the value of the 12-S by around 40% and the 94 by over 80%.
My opinion is that coins from the same series in the same grade with the same problems should have their values affected approximately the same by those problems.
Without seeing both sides of the coin, it is harder to tell the grade. I agree that it has been cleaned. I would posit that the depth of the "I" in Liberty and the amount of detail in the hair and some stars would argue for VF details, but probably not enough to go EF. Seeing the reverse of the coin could help. Strikes on Liberty nickles are often uneven; the minting process was not as advanced as today, and nickel alloy is much harder than silver or copper metal used in coins of the day.
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