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 Replies: 10 / Views: 2,343 |
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Pillar of the Community
United States
4883 Posts |
"How low can you go?" Plucked this out of a shop's junk/bargain bin today (set me back a whole 20ยข). Except for the date, the design elements are virtually obliterated. The question is, if submitted for certification, would it have a chance at coming back graded P01? The coin is much darker and brown than it appears in these photos, which I took at an oblique angle and then also "punched up" somewhat so that what detail was extant could be readily seen. It shows no sign of having been cleaned or polished, an entirely honest specimen so far as I can tell.   Colligo ergo sum
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Pillar of the Community
Canada
4227 Posts |
Not sure what it would grade, but I like it  |
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Pillar of the Community
3772 Posts |
You might be unlucky and it comes out as FR-2 rather than PO-1.  Btw, I got similar high quality young Victorian pennies from penny-lanes (similar to a slot machine) in London. Edited by Medieval
09/30/2014 02:11 am
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Bedrock of the Community
United Kingdom
17997 Posts |
Lucky Cuss - this reminds me of an 1861 penny I got in change as a child. The date on these early Victorian bronze pennies was often the last thing to wear away. Nice specimen!
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Pillar of the Community
United States
937 Posts |
I do not understand why you would want to get it slabbed. Why spend $20 or more on a coin with no value at all? I mean for a whole 50 cents I got an 1807 Geo III penny vastly better than this and I carry it in my purse. What is the reason for slabbing it?
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Pillar of the Community
 United States
4883 Posts |
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Pillar of the Community
United States
4692 Posts |
Wouldn't a rock tumbler followed up by copper darkener create as many PR-01 coins as one's heart desire?
s
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Pillar of the Community
United Kingdom
1351 Posts |
I'm sorry to confess I have binned better.
In the UK it wouldn't reach the junk bin.The dealer would be laughed out of the industry.
To put it in a slab is crazy unless the slab isn't opaque.
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Pillar of the Community
United States
937 Posts |
Tryna - Perverse as it may seem, it's not unusual that certified "lowball" coins (if they actually grade P01) can actually be pricier than a mint state example. Lucky, my first response was  Once I stopped laughing I wanted to cry because two of my arguments against grading coins have come around to haunt me 1. when slabbed coins fully catch on then the hobby that I love so much and was my handle on sanity through my insane youth will be reduced to nothing more than collecting the right number on the proper label affixed to the correct holder. 2. If grade rarity is the important thing then the most valuable coin in the world is a 1971 Eisenhower dollar in P01. the thought of this brings tears to my eyes. |
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Pillar of the Community
United States
4883 Posts |
Tryna -
My comment isn't meant to reflect what ought to be, just the marketplace reality. There are collectors of lowballs, and they will on occasion pay dearly for them if certified as such. So if you have one you think might grade P01, there's an economic incentive to submit it. But as Medieval remarked above, if it comes back FR02, the gambit's a bust.
jimbucks -
I wonder if your "anti-whizzing" notion would actually work. I'll bet somebody's going to try it with an already well worn Morgan, where the real demand for lowballs seems to be.
Colligo ergo sum
Edited by Lucky Cuss
10/08/2014 9:16 pm
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Pillar of the Community
United States
937 Posts |
Lucky,
I never inferred or referred to anything that aught to be. I simply stated that the fact that people will pay a high premium on a worthless coin simply because it has the correct number on the holder has turned coin collecting into label collecting.
If someone wishes to collect numbers on labels that is their prerogative just as it is mine to consider it foolishness. I can just see the discussions this type of low ball collecting will generate.
"Never buy an ABC Grading Services coin as they undergrade terribly. This holder says P01 but it is no worse than AG3. How can they get away with this?"
Well I guess Beanie Baby and Pog collectors need something to throw their money at.
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Replies: 10 / Views: 2,343 |
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Posted 09/30/2014 02:06 am
