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 Replies: 8 / Views: 3,387 |
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New Member
United States
16 Posts |
I picked up this coin at a local coin shop for $110. I know I got a good deal. Even though it was improperly cleaned, it appears to be in relatively good condition. I'd love to travel back in time and shank this guy before he shines it. Ugh.    My first question is: what do you guys think the actual grade of this coin is? I don't have much experience with 1921 Peace dollars. My second question is: how much would this coin be worth? It's hard to find values of shined coins on the web. My third question is: is there any way to... well, I don't know, un-shine a coin? I probably sound really ignorant right now but I would like to get the value back of some of my coins. Of course, not this one as it is in an NGC protective case, but I have a few others... Poor coin.    Edited by Zoran Spencer Allen
03/09/2014 10:26 pm
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Pillar of the Community
Canada
5417 Posts |
I think 50% of full retail value is fair to assume for value. You did well for $110.
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Bedrock of the Community
13014 Posts |
Quote:
My third question is: is there any way to... well, I don't know, un-shine a coin? As far as the actual grade to me its impossible to say once a coin has hairlines like that. Those lines could have covered up or removed things that would have affected the grade. For a coin like this you can un-shine but youll have to crack it out and carry it as a pocket peace letting the top layers of the coin wear off to do it. The only way to salvage a non-details grade once it has hairlines is to sacrifice grade to get to an unharmed surface underneath. This will also takes years or at the very least many months of constantly carrying it letting your pockets slowly wear it away. Its not something that happens quickly. |
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Pillar of the Community
United States
3843 Posts |
Once a coin is improperly cleaned it is improperly cleaned forever, no amount of "doctoring" can change that. Looking at ebay there seems to be a few completed listings for 1921 Peace dollars graded Unc. Details the have sold for around what you paid. |
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New Member
 United States
16 Posts |
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Pillar of the Community
United States
5825 Posts |
Quote:My first question is: what do you guys think the actual grade of this coin is? I don't have much experience with 1921 Peace dollars. In my opinion it has no grade. Quote:
My second question is: how much would this coin be worth? It's hard to find values of shined coins on the web.
Even though I look at it as having no grade you still need the guidance of a catalog to decide how much to pay if you want it anyway. For a "high grade" key such as this coin I would say 50% of the greysheet is fair, so you paid a reasonable amount. Common date coins should probably be down around 20% or lower. But I subscribe to the philosophy, "If you buy a coin with a problem you'll always have a coin with a problem". Quote:
My third question is: is there any way to... well, I don't know, un-shine a coin? In general anything you do to a damaged coin will only make it worse. |
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Pillar of the Community
United States
1277 Posts |
Nice looking coin! It's one I'd love to have in my collection
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Pillar of the Community
United States
3755 Posts |
I do not think that was "polished" per se. It was wiped down with a cloth resulting in the hairlines. As NGC states, that IS an UNC coin. And it IS a 21 Peace dollar. To say it does not have a grade is flippant IMO. It is an MS60. Minimum grade for an uncirculated coin. As Basebal said, you could crack it out and carry it as a pocket piece. This will wear the coin down to the point the hairlines are gone. At that point it will likely be VF-XF and have un altered normal surfaces for a circulated coin. This will not make it worse, just lower its grade. BUT, it will then be a coin with an assigned grade and no details exception. And that is not doctoring it. So you need to decide what you want for your collection. A really pretty UNC coin with really painful hairlines, or a nice circulated coin with normal surfaces. I personally would put in my pocket. Here is why. FRV for an MS60 is 275. Yours is worth about half that due to the damage, 137.50. Which means, BTW, you did well with the price you paid. Care to take a guess at the FRV of VF-XF? Drumrollllllll..... 130.00-140.00. By making it a pocket piece and getting rid of the hairlines without compromising the coin you lose no value AND make it easier to resell. |
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Pillar of the Community
United States
3343 Posts |
If you shanked the guy you wouldn't own this coin. You'd own another one. I've done the same thing buying jewelry coins. Usually I flip them after a while for cash or to get a better example.
To me you have better trade bait if you leave it in the holder, on account of the authentication. The reverse strike is weak at the wing/leg juncture. It has some luster, possibly nice cartwheel, but it has those awful scratches. How long will you be able to stand them is the question.
"Two minutes ago I would have sold my chances for a tired dime." Fred Astaire
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Replies: 8 / Views: 3,387 |
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Posted 03/09/2014 10:45 pm
