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Patina And Value

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Bing's Avatar
United States
4253 Posts
 Posted 08/19/2012  07:57 am Show Profile   Bookmark this topic Add Bing to your friends list Get a Link to this Message Number of Subscribers
I have been asked by a Metal Detecting Club in Europe to help attribute the coins they find. So far they have sent me images of 25 coins with a promise of another 150 or so in this next week. They also asked if I can assign a value to their finds. Attributing is the easy part, while value is subjective I believe. To the point. These first 25 coins have all been over cleaned to the point that the patina has been removed. A couple of these could be very nice, and possibly scarce coins, if they hadn't been harshly cleaned.

My question is how much does this over cleaning affect the value. If all the patina is removed and only bare metal remains, I think it greatly affects the numismatic value. What is everyone's opinion? The image below is one of the coins in this first group just to show as an example of what I'm talking about.

Patina-And-Value

Patina-And-Value
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nikola's Avatar
Croatia (Locally: Hrvatska)
342 Posts
 Posted 08/19/2012  08:18 am  Show Profile   Bookmark this reply Add nikola to your friends list Get a Link to this Reply
Hello.
My opinion is that harsh cleaning greatly affects the numismatic value.
Especially if you take off the patina.
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Bing's Avatar
United States
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 Posted 08/19/2012  09:03 am  Show Profile   Bookmark this reply Add Bing to your friends list Get a Link to this Reply
I agree nikola, but by how much? My guess is 50%, but this is only my guess.
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Gil-galad's Avatar
United States
2044 Posts
 Posted 08/19/2012  10:15 am  Show Profile   Bookmark this reply Add Gil-galad to your friends list Get a Link to this Reply
I really don't know the answer to that. But I have some ideas.

I'd say around 25% to 75% depending on condition. Some coins have solid metal surfaces under the patina. Some have a nasty looking surface but still solid. Some have mushy looking surfaces and some with a unstable core that's possibly corrupted. Some have serious damage, like the coins I've seen after Electrolysis.

Regardless, those guys need to learn how to clean coins less aggressively.

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VisigothKing's Avatar
United States
4778 Posts
 Posted 08/19/2012  10:22 am  Show Profile   Bookmark this reply Add VisigothKing to your friends list Get a Link to this Reply
I'd break it to them about their cleaning, to hopefully prevent more coins from coming out harshly cleaned.

And I would say the value gets reduced 50-75% IMO
Edited by VisigothKing
08/19/2012 10:25 am
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TJsCoins's Avatar
United States
3229 Posts
 Posted 08/19/2012  10:46 am  Show Profile   Bookmark this reply Add TJsCoins to your friends list Get a Link to this Reply
I will say that it decreases the value 50 - 90%. It looks like electrolysis was used. I would definitely tell the group that they should change their cleaning method(s). Normally I will not even look in the zapped bin.
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Eng5858's Avatar
United States
1316 Posts
 Posted 08/19/2012  11:10 am  Show Profile   Bookmark this reply Add Eng5858 to your friends list Get a Link to this Reply


jw,

Not sure how much less they would be, but with that kind of detail, I would to buy some if they are for sale.....
This coin looks a Gallienus AE Antoniaianus...maybe Ric 249.1 or 249...If they are selling some could I get a preview...
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VisigothKing's Avatar
United States
4778 Posts
 Posted 08/19/2012  11:15 am  Show Profile   Bookmark this reply Add VisigothKing to your friends list Get a Link to this Reply

Quote:
but with that kind of detail, I would to buy some if they are for sale.....
Same here, for the right prices that reflect the overcleaning.
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Bing's Avatar
United States
4253 Posts
 Posted 08/19/2012  12:28 pm  Show Profile   Bookmark this reply Add Bing to your friends list Get a Link to this Reply
I asked if they might want sell some of their coins, and was told they probably would sell any I might want. The problem is that the coins all belong to different members of the club and the club president would have to ask the individual member. If anyone is interested, I can forward the images to you via email and you can let me know what you might want and how much you are willing to pay.

BTW, Eng, I have this one attributed as RIC 214. Ric 249 has a "Z" in the left field. I have also told them their methods of cleaning are too harsh. The president knows this, but says he can only tell the members. They can choose to listen or not. I offered to send him instructions on proper cleaning techniques.
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sel_69l's Avatar
Australia
21788 Posts
 Posted 08/19/2012  12:45 pm  Show Profile   Bookmark this reply Add sel_69l to your friends list Get a Link to this Reply
jwharper: As you may well know, almost all ancient coins have to be cleaned before they can be marketed.
This forces a dichotomy to be considered. The cleaning of long buried ancient coins almost always affects the patina. You would expect that. Therefore, expert cleaning is needed with potentially valuable ancient coins.

Eye appeal is just one of the factors to be considered when valuing an ancient coin, and patination is a part of eye appeal.
Ancient coins are a bit like evaluating humans, which has to be done at job interviews. All of the factors have to be taken into account and an overall comparative value arrived at.

The best thing to do is to compare your valuing efforts with the commercial experts. If I am to buy an acncient coin, I always look at the VCOINS website, to get an idea of comparative pricing. In my case that can lead to buying the vcoin offering instead.

All coins begin repatination after being cleaned, and I suspect that some ancients have boosted artificial patination applied to them.

One thing is for certain: It is a sure bet that not everyone will agree with the valuation you give each coin. We all consider different aspects of an ancient coin's good and bad points, with more or less importance.

The best approach would be to ask yourself:
'How much would I pay for this coin if I wanted it for my own collection?', then ephasise that it is your opinion only.
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echizento's Avatar
United States
23731 Posts
 Posted 08/19/2012  12:50 pm  Show Profile   Bookmark this reply Add echizento to your friends list Get a Link to this Reply
How much the value of an overcleaned coin is going to be effected is going to be based on the rarity and condition of the coin. For example the OP coin is a common coin, off centered with edge damage. Most collectors would not offer anything for it. On the other hand if the same coin was well centered, without any damage and overcleaned it would probably sell for 50% less than a full patined example.
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Eng5858's Avatar
United States
1316 Posts
 Posted 08/19/2012  1:03 pm  Show Profile   Bookmark this reply Add Eng5858 to your friends list Get a Link to this Reply


jw, went back and checked it out, being a noob, I feel I'm getting better at attributing these coins, but do have a way to go...your the Man.......
I will email you for some pic's, I like coins well centered, but I do like coins, broken, out of round, different....as long they have good detail...like the pic below...Thanks Eng...
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 Posted 08/19/2012  1:09 pm  Show Profile   Bookmark this reply Add dougsmit to your friends list Get a Link to this Reply
In all honesty the only 'value' that makes any difference to a detectorist is how much you can sell the coin for. Wholesalers who buy from detectorists don't pay retail. I checked my records for the last two years and found 15 Gallienus AE antoniniani purchased between $10 and $48. This coin falls in with the $10-15 crowd. The cleaning is not a strong point but may retone in time. The damaged edges will not heal. I would not pay $10 for this coin and I am a retail customer who does not have this exact type. How many of you would pay more; how much more? To me this is a $5-10 coin at retail. What percentage do you think a picker will pay? Half would be generous.

I'd be happy to ID coins for these people but I believe only bad feelings will come from giving them 'values' for the coins unless those numbers are backed by a firm offer to buy.

In case someone is curious of what a Gallienus has to look like to make me spend $48, this is from the last Frank Robinson sale. Some will note it has more wear than the OP coin but it also has solid edges, good strike, decent surfaces and a better type. Did I pay too much? Obviously the other bidders in the sale thought so or I would not have won it.


Patina-And-Value
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Bing's Avatar
United States
4253 Posts
 Posted 08/19/2012  1:15 pm  Show Profile   Bookmark this reply Add Bing to your friends list Get a Link to this Reply

Quote:
The best approach would be to ask yourself:
'How much would I pay for this coin if I wanted it for my own collection?', then ephasise that it is your opinion only.


Sel: that is how I am approaching the value of these coins; however, I wanted to hear what you and the others had to say on the subject. I value all your opinions.

So far the club has sent me 25 images. I have them attributed and linked to images on line of a like coin. I have not sent my report back to the club only because I have not offered a value yet. That's next. Thanks to all for your input. And, once again, if anyone is interested, I can forward the images for your consideration. Remember, though, these are not mine and I am not even in the same country as the owners.
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Nothus's Avatar
United States
209 Posts
 Posted 08/19/2012  1:49 pm  Show Profile   Bookmark this reply Add Nothus to your friends list Get a Link to this Reply
I would also be interested in purchasing if the price was reasonable, especially if the finder is willing to disclose where the coin or coins were found. I don't have that information for any of my coins, but I think it would be cool even if they are overcleaned.
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United States
1549 Posts
 Posted 08/19/2012  2:08 pm  Show Profile   Bookmark this reply Add dougsmit to your friends list Get a Link to this Reply
Nothus has a good point. A $10 coin with a signed letter from the finder giving the date and place of the discovery would become a $20 coin. Many of us would like to have coins with full information.
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