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Net Grading And Details Grading On A Capped Bust

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ndwlegal's Avatar
United States
160 Posts
 Posted 11/15/2013  1:20 pm Show Profile   Bookmark this topic Add ndwlegal to your friends list Get a Link to this Message Number of Subscribers
Could someone explain what net grading is exactly in the context of classic coins that have been cleaned? I have seen a few discussions here, but don't fully grasp it frankly.

I saw a reeded edge capped bust the other day at a local shop. It was graded AU details in a TPG. I think it had been cleaned by a jeweler's cloth, but this was pretty difficult to see. It appeared to be an older cleaning as the coin had retoned a fair amount. Personally, I want to crack out the coin for a type set. I like the fact that it is AU even if it has a few problems and it will cost me almost half of what a problem free AU coin would be.

What would your advice be to a beginning collector? Stay completely away from any "problem" coins, or a deal is a deal. My initial thought is that with a 180 year old coin I am willing to accept a few small issues to have a higher grade decent looking coin. Just curious as to thoughts. Thanks
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SsuperDdave's Avatar
United States
23522 Posts
 Posted 11/15/2013  1:29 pm  Show Profile   Bookmark this reply Add SsuperDdave to your friends list Get a Link to this Reply

Quote:
What would your advice be to a beginning collector? Stay completely away from any "problem" coins, or a deal is a deal. My initial thought is that with a 180 year old coin I am willing to accept a few small issues to have a higher grade decent looking coin. Just curious as to thoughts.


My usual advice to a beginning collector is "stay away." This is predicated on the fact that a beginner does not have the subtlety of judgement yet to gauge what is and isn't "minor" problems, nor the ability to judge an appropriate price for a problem coin. With that said, there's no reason written in stone why one cannot deliberately purchase a Details coin if one is satisfied by the look. Just make sure you're well aware of what will cause your more-experienced your peers to point and go, "eeeew!"

A Details grade - which the industry has pretty much entirely shifted to - is an objective evaluation of the exact detail on the coin, notwithstanding whatever caused it to be called "Details." An "AU Details" coin, without the problem, would be an AU coin.

A "net" grade is a subjective evaluation intended to indicate some sort of relative value for a problem coin. So, a "net" VF30 coin could be an EF45 "Details" coin - 45 detail, but knocked down to VF30 value by the problem.

I would much prefer if we all get on the sheet of music which carries the notes of "Details" grading, because valuing a "Details" coin is pretty complex and any two people are likely to disagree. That's why only one of them will win the auction.
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dsfreeworld's Avatar
United States
4337 Posts
 Posted 11/15/2013  3:56 pm  Show Profile   Bookmark this reply Add dsfreeworld to your friends list Get a Link to this Reply
It's such a great topic of conversation. Obvious harsh cleanings and artificial toned coins should be steered clear of IMO. Holed coins, for me, it depends on what coin we're speaking of. I would take an EF 1794 Half Cent with a hole all day since I could never obtain that coin in that grade problem free without selling off a multitude of other coins I have and I do not want to do that. Lightly cleaned and what some members designate as "market acceptable", are a case by case basis for me.

All of that having been said, SD sums it up nicely


Quote:
...any two people are likely to disagree. That's why only one of them will win the auction

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basebal21's Avatar
13014 Posts
 Posted 11/15/2013  7:15 pm  Show Profile   Bookmark this reply Add basebal21 to your friends list Get a Link to this Reply
I definitely understand wanting to get one with details that you would never be able to afford problem free. I dont see anything wrong with doing that on a limited scale. There are some coins were details coins are fairly popular since most people cant afford problem free ones in any grade.

That said I would just caution to do this rarely. Over time its likely your taste will become pickier as you get more familiar with them. A lot of people do develop an appreciation for a lower grade problem free coin which is why the market is priced the way it is. I mention this because like everyone else youll probably end up upgrading some of your early purchases. A couple details coins that you like no big deal, you just want to tread cautiously so you dont one day look at the album and say I'm not happy with that time to start over.

Coins that would get details grades are difficult to move if you decide to sell for an upgrade. Like mentioned not all details coins are equal even in the same grade for the same coin. In the end its what you enjoy the most though that matters. Following the general trends of market acceptability for problem free coins protects your purchase more, but if the higher grade cleaned ones make you happier there is a value you can place on that as well.
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jpbone's Avatar
United States
1959 Posts
 Posted 11/18/2013  12:00 pm  Show Profile   Bookmark this reply Add jpbone to your friends list Get a Link to this Reply
To me it is like buying a car that has been in a flood and/or in an accident. While the analogy isn't perfect, I wouldn't do it. I have a few cleaned coins in my collection. When I look at my collection, those cleaned (even though re-toned) coins stick out in my mind as flaws and I don't enjoy them as much. If you ever want to sell them, of course you won't get as much. So, if you pay 1/2 retail and sell for 1/2 retail in 15 years, monetarily you have done ok. I would say it depends on your personality and possibly how much you've studied and collected coins. The longer most people collect, the more they appreciate a coin with original surfaces. A cleaned coin makes me say ewwww like SD mentioned above.
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