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 Replies: 11 / Views: 1,198 |
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Pillar of the Community
United States
882 Posts |
I have been looking for a 1928 P Peace dollar all summer. I need one in about AU condition so it's in my price range. On ebay, buying this coin raw is kinda risky. It's hard to get an accurate grade. Graded ones cost quite a bit more then raw ones and people just don't sell them that often on there. Ok, my coin shop has one in XF condition and they have it marked for $450. Every time I go in there I say I will buy it for $400 and they always said no. Finally she said she would sell if for $425. The catch 22 is, she told me a couple months ago that it was very lightly polished and is actually a AU coin. They are selling it as XF because of it being lightly polished. The coin dont looked polished, but these guys have been selling coins for a long time and know what their doing. I trust them. So do I buy this coin for the reasonable price of $425, or do I wait and fight with someone on ebay for a graded one? They are a little more expensive on ebay and the opportunity only comes along every so often... Thanks, Ty |
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Pillar of the Community
United States
1267 Posts |
I'm going to ask a couple of questions. #1. What grade do you think it is, have you looked at it up-close with a loupe? #2. What are EF Peace dollars going for? #3. Are you comfortable dealing with this coin dealer? #4. Are you comfortable with your knowledge about Peace dollars and sure of your ability to determine if the coin is fake or altered? If you can answer all these questions and feel comfortable with the dealer I think you may have found your coin... Ben |
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Pillar of the Community
United States
1283 Posts |
I personally would never purchase a problem coin, even if it is aestheticaly pleasing. Especially a key. If you want I'll try to help you hunt for a problem free, certified example via the internet. I enjoy the cyber-hunt, and at least this time it won't come out of my wallet. There are certain tricks to finding deals on the internet.
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Pillar of the Community
United States
2540 Posts |
The big question:
Can you live with it?
If so, and you feel that the price is okay, then do it.
If it'll bother you forever, pass on it.
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Pillar of the Community
United States
1173 Posts |
Hard for me to give you advice...but I think you should maybe pass on this one even though you've been searching for some time for this date. My reasoning is that, when you find a problem-free example, you'll enjoy having it in your collection without regrets. This coin, even if it looks uncleaned, will always have that niggling little voice in the back of your mind saying "it's cleaned, it's cleaned, it's cleaned." Sooner or later you'll sell/trade the coin and end up paying even more for what you wanted from the outset.
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Pillar of the Community
United States
2797 Posts |
Tyk, The greysheet price difference between XF and MS 60 is small for this date (around $100). Availability is another issue. Take a look at the coin under 10x and look for obvious disruption in the luster and/or presence of hairlines. If obvious to you under 10x, then the coin would probably get an ANACs AU detail, cleaned, net XF. Finally ask yourself why are you buying the coin ... if the honest answer is "as an investment" and you see evidence of cleaning ... pass on it and wait for a problem-free example. If it is just for your collection and viewing pleasure ... there's only one person you need to convince.  |
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Pillar of the Community
United States
2443 Posts |
I wouldn't buy it. It's different if it's some mega rare coin that's hard to get in any grade and it really doesn't matter if it's cleaned, polished, etc but that's not the case. If I were you, I would wait to get a problem free coin. You might have to wait a while(let's say 6 months) but in that time, you can save up more money for it and find one in maybe MS condition like Dave suggested. I know how it's like to want a coin right now, but I think your best bet would be to wait.
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Pillar of the Community
United States
986 Posts |
I'll jump on the bandwagon of people telling you to hold off. I've been in similar positions with some rather expensive coins, so I know what you mean. But 1928's aren't rare at all, and can be found any day of the week. A nice one, however, is tough to find. But when you do find one, it'll be worth a premium to you and to whoever you sell it to down the road. I'd rather pay for the extra quality of a nice one and wait it out, rather than have a problem coin in my collection.
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Pillar of the Community
United States
590 Posts |
At least they were honest and told you about the polishing. I would pass on it.
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Pillar of the Community
 United States
882 Posts |
Thanks for the help, guys. I think it would be best to wait on this one and find something a little better. The one at the coin shop is nice, but I think I would be better off waiting for a nicer one.
Thanks,
Ty
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Valued Member
United States
470 Posts |
Take your $425.00 and put it in an ING Direct internet savings account at 5% interest. While you are at it you might as well clean out the saving account at the bank that's getting .02% Interest and put all that in there as well. Interest is your friend.
Save $20.00 a month for the next year. Cut back on the smokes and the beer and it should be no problem putting the money away. Also, those magazines are expensive...stop buying those also. This time next summer you will have $665 + Interest and will be able to purchase a much better looking coin that will be well worth the wait.
OR
If you are like me, you will have 20 of your friends with CC in hand on the phone and computer at high noon today (in a short 2 hours)to buy their limit of the Jeff spouse coins. Flip them fast and buy the coin you really want and deserve for a Christmas present to yourself. :)
On second thought ...stop drinking and smoking and pocket the money instead.
Edited by Andrew289
08/30/2007 10:10 am
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Pillar of the Community
United States
2443 Posts |
Andrew, how did the Jefferson FS work out for you?
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Replies: 11 / Views: 1,198 |
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Posted 08/29/2007 11:04 am
