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 Replies: 18 / Views: 5,404 |
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Bedrock of the Community
 United States
18685 Posts |
Ok I would like to hear from other members on whether they consider buying cleaned coins for their collection. why or why not and how much do you deduct for it. 30% 40% or more? Would you make exceptions for a rare coin you need?
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Pillar of the Community
United States
2077 Posts |
Depends on the cleaning. If a dip, I'll buy it. If it's been whizzed or polished, I'll pass. 30 to 40% sounds about right.
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Bedrock of the Community
13014 Posts |
Depends on the cleaning. Some coins while technically cleaned, still have good eye appeal as the cleaning was done a long time ago. Those are the kind of coins I think of as album coins where it kind of detracts from it being in a cleaned slabbed.
The more expensive a non cleaned version the more likely I would be to consider it. Most people couldnt afford a 1796 dime in any grade, a cleaned one could be doable though.
Really though itd be a case by case basis for me for both interest and price to deduct. Some are worthy of a huge price hit, others not so much
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Pillar of the Community
Canada
5417 Posts |
Basebal has got it, I couldn't afford a 1796 dime, cleaned or not (Well I'd have to sell off half my collection to buy one in VG). I don't mind buying cleaned coins, if they don't look too bad, I definitely won't buy anything that is harshly cleaned but I might buy an improperly cleaned coin, that is after deducting 50% off of list.
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Pillar of the Community
Canada
726 Posts |
I think lots of collectors buy coins (In2X2's) that are cleaned and don't know it....The collector selling it doesn't know it is either....At our monthy meetings of coin club (35persons)say 2 hav and use a small loup to look at coins....33 just buy the coin or not...So I say a lot of cleaned coins in the hands of collectors?
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Bedrock of the Community
United States
20753 Posts |
For me it depends on the coin and the amount of cleaning. For example I'd buy any 1916D Mercury dime regardless of how much it was cleaned. Naturally I'd try to reduce the asking price but if low already, then not sure but I'd still want to buy it. Same with most rather difficult to find coins. It all depends. And as to how much? That too is a tuff question. Even with the amount, it still depends on the coin. |
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Pillar of the Community
861 Posts |
It is estimated that 90% of all US coins, pre-1933, have been cleaned to some degree. Therefore, even if you don't think you have cleaned coins, most of them are. Even PCGS and NGC have acknowledged that most of their "straight graded" have been cleaned. NGC even notes "improperly" cleaned on their holders as opposed to just cleaned. The degree of cleaning determines whether a coin gets a details grade or not. The degree of cleaning also determines how much of a reduction of price the coin gets. Therefore, there is no way to determine how much reduction a cleaned coin deserves. |
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Pillar of the Community
United States
2757 Posts |
cleaning doesn't lower the value of coins already being sold for melt. It all depends.
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Pillar of the Community
United States
7195 Posts |
It would all depend on the eye appeal to me. unusually bright coins stand out but a subtle toning after a prior cleaning can be acceptable. As stated before it has to be judged a coin at a time.
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Pillar of the Community
United States
621 Posts |
I will buy cheaper cleaned or damaged coins if I like them. when it comes to more expensive ones I want problem free. How much I deduct depends on how the coin looks.
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Bedrock of the Community
Australia
21788 Posts |
The percentage of value to be deducted depends on the extent of damage done by the cleaning.
It then boils down to a subjective decision to be made by an intending buyer as to how much he is prepared to pay, cognisant of the extent of damage done.
Can't really give a %age deduction, because the decision to buy is very subjective. THAT is the decision of the buyer.
In some cases I would definitely buy a cleaned coin, but as mentioned above, it depends how I feel about it; others would have different feelings. Therefore, you would have to expect a price range.
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Valued Member
United States
498 Posts |
20 years ago I would not buy an obviously cleaned coin. I am a believer that 80% of all coins ha been cleaned at some point. I also buy coins and send them to be preserved for the right price. Today if you pay 50 to 60 % and the coin is not whizzed you won't be stuck with it. It makes me crazy when I list an au 50 84 s Morgan original and can't get $100.00 bid and I see one that sold the day before for $500.00 that's au 53 whizzed so bad the guy had to go through wheel pads. When I worked for Goldstar the biggest In the country I had a customer asking for 50% of blue book all slabbed details cleaned keys and the boss said no. And we weren't allowed to buy for ourselves. I'm talking he was a retired store owner and ha about 150 908 and09 s Indians 21 s, 24 s, 26, s unc details cleaned. I would have bought them all
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Pillar of the Community
United States
2311 Posts |
If a cleaned coin don't look bad, I buy it.
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Pillar of the Community
United States
1511 Posts |
 with pretty much everything said already. And especially agree that not all that long ago it was common practice to clean all coins and not frowned upon at all. So I'd say that 80%-90% of all coins have been cleaned , and if they're pre 1900 it's almost certain they've been cleaned at some point. But for me it all goes by eye appeal and rarity... If I like the coin I'll buy it regardless, given the price is right. It's kind of like toning... I don't go by AT or NT.... I go by "market acceptable" or not, harshly cleaned or not? And I should so add.... I've seen (and bought) slabbed coins labeled as "details cleaned", that I 100% disagree with, especially if the coins from the early 1800's. Actually, I've gotten super deals on a couple half dollars this way that I don't see the slightest evidence of cleaning. I think better allowances should be made by the TPG's being that they know this was common practice not long ago, let alone 100+ years ago.... |
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Valued Member
United States
300 Posts |
I bought this coin knowing it was cleaned, for me the eye appeal was good enough to not care that it was. I think I paid half the book value at the time for it.   |
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Pillar of the Community
United States
589 Posts |
If it is a early date or semi-rare coin, I have no problem buying the coin in any detailed grade at a discounted price.
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Replies: 18 / Views: 5,404 |
Posted 04/09/2014 8:25 pm
