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 Replies: 25 / Views: 3,311 |
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Bedrock of the Community
United States
14454 Posts |
everyone does their set differently, me myself I bought a lot of slabbed coins and cracked them all out to place them into the album but since I didn't have any plans to ever sell the coins nor upgrade any of them there wasn't a problem with what they would sell for. If you look at my album you will see all the labels taped to the back cover as I did save all of them for that purpose but had no qualms with cracking a high dollar coin out for the album. One of the Large Cents I cracked out was a $3000+ coin and it wasn't even the most expensive coin that I cracked out for the album so there is no right or wrong way to do the album, but if all the coins are slabbed and left slabbed you can't really call it a 7070 album, its a 7070 set and I was completing the album as coins4fun is doing
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Bedrock of the Community
United States
14454 Posts |
so what have you decided to do about this coin? Keep it and place it ion the album knowing it has problems, try acetone and see if it will remove the paint or are you sending it back to the seller?
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Valued Member
 United States
153 Posts |
Well, I am still sort of undecided but I did pay for the coin, going ahead with the sale and going by the tracking information it may well be arriving today. If I remove it from the holder, I may void the return privilege; although in my experience sellers are lax about this.
From the pictures provided, you seem to be 100% certain that the coin's toning is not natural and furthermore that the color is definitely questionable. The idea that someone painted the coin and glued it to a school project in the 1800s seems like a wild guess but the consensus is that this coin definitely isn't natural. I would like to see it in person. I can also bring it to Stacks where they can give me their opinion. If it is in fact paint, I am not a professional and would not know how to remove it without damaging the coin's relatively delicate surfaces.
I hope that I did not get ripped off on this sale. This particular issue, in fact a lot of 18th century coins seem to have some sort of issue (I read that coins in general at this time were circulated and numismatists were very few and far between.) Going by auction records and retail price guides, I am still unsure if I overpaid @ nearly $700. At a local coin show I went to this weekend, I saw a dealer with 2 1797's (one was a dark raw coin in VF with a price tag over $3000.)
If I didn't get such a great deal, and I later come to this conclusion that I overpaid by a few hundred dollars, I may try to return the coin to the seller (who has done thousands of high volume transactions with 100% feedback.) I am happy that the basic set is now complete - spanning 4 centuries, with all the relevant mints represented, with 1 inexpensive strong candidate for an upgrade. I am now working on the gold page, and have 8/10 expensive coins to go. That will be a great challenge for me to complete financially with Gold at $1700+ per ounce!
I won an 1846O Liberty Quarter Eagle (~175 known) yesterday and again am thinking that I may have made the same mistake and overpaid @ $775 (I made a post about it with not many responses.) It just seemed like a good value being a US-issued Gold coin, almost as rare as a 1794 Dollar for under $1000. Of course, there is probably no demand for it and I am leaning toward returning it and buying a beautiful common Indian $10 instead.
Edited by coins4fun
11/26/2012 2:49 pm
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Bedrock of the Community
United States
14454 Posts |
Maybe when you get it you can take a few shots of the coin and then maybe we may have a different opinion. I have seen alot of copper coins throughout the years and have never seen any tone that pink color so from the pictures they provided paint is the only thing I can think of that would cause it and I haven't seen any other opinions that would make me question my initial thoughts. Yes the School painting was definitely just a guess as there would be no way to really tell what or why it was painted just some sort of craft is what crossed my mind first and that is why I said it. It by no means was something I felt definitely happened, just a guess of what could have happened. But there are a million other guesses of what could have happened as well and none of them may be correct. You can just pick one you like best and tell everyone that story if you wish as there would be no way to prove or disprove it
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Valued Member
United States
168 Posts |
What did you decide to do with this coin? In my experienced opinion, a coin such as this for type is a poor purchase at $700.
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Valued Member
United States
153 Posts |
Well, I had wanted a VF+ Draped Bust Cent from the 1700s to be represented in my 7070. Such a coin does not come cheap, and is the most expensive coin @ $700 in the entire album not including the Double Eagle. Granted, it is the most common variety for the year 1797 S-128 and has some kind of surface damage, but overall is a pleasing VF-XF example. I would be interested if you could find a comparable coin for much less than what I paid. Tell me why do you think I overpaid for this coin and can you find a better deal anywhere? I have looked a bit. I may still be able to return it..
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Valued Member
United States
168 Posts |
Please understand that my comment about the $700 price had little to do with finding another coin cheaper and more to do with having the money tied up in what most would consider a problem coin. Most folks build these sets with the idea that the coins will never be sold, traded or upgraded, but the reality is that the great majority of these sets are sold, traded or upgraded at some point in the future. When that time comes, the problem-free coins typically fetch the most money and are the most in demand while the coins with issues (such as this coin) languish or only sell at a steep discount.
Therefore, I doubt highly that I could find a problem-free, attractive VF-EF large cent from the 1700s for less than $700. If the VF-EF details, a 1700s date and approximately $700 are absolute requirements then you have set certain parameters that will dictate the coin. If one or more of these parameters is flexible however, you can buy a nice piece that might make you more happy in the future.
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Pillar of the Community
Australia
4411 Posts |
If it wasnt such a valuable coin then I would be tempted to give it a go with acetone. The thing that would worry me though is that there no telling what the surface is like under that red stuff.
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Pillar of the Community
United States
3184 Posts |
If the person posting as Tom_B is who I think it is, he is a well respected dealer and has a lot of knowledge, listen to what he says,
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Valued Member
United States
168 Posts |
Howdy mkman123. It's me (TomB on PCGS and NGC).
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Replies: 25 / Views: 3,311 |
First Page
Posted 11/26/2012 1:25 pm
