| Author |
 Replies: 23 / Views: 2,323 |
|
Valued Member
United States
330 Posts |
Hello, This is my first question since joining the community. I have the opportunity to purchase a 1916-S Walking Liberty half with rim damage. It is in an ANACS holder graded AG-3, Details, with rim damage. I can't afford anything beyond this grade (AG/G) so even if I don't buy this one I will be adding a similar one. The rim damage is not overly obvious at first glance. The damage appears to be at about 5:00 when viewing the obverse. The coin looks as good or better than some G-4 to G-8 coins that I have. I will try to get some decent pictures to post. I do not have a good set-up for photographing coins yet. My question is regarding rim damage in general. How much should this detract from the current and potential resale value of the coin? Being in the ANACS holder it is not debatable, the rim damage is obvious to anyone willing to closely examine the coin or for those that only read the slab. Do any of you have strong opinions either way? No problem buying coins with rim damage or stay far away? Thanks, Jim |
|
|
|
Bedrock of the Community
United States
14454 Posts |
I have never had a coin with rim damage but from what I have been told by others on this forum it is almost impossible to give them away when they have rim damage. That being said it is a key date and the rim damage is what made the grade lower in your price range so you will get a better looking coin as far as wear for the money but its because the coin is damaged as it is. I will let others give you their experience in such matters since I have none but I am just passing on the information I have heard others say before about rim damage
|
|
Pillar of the Community
United States
2443 Posts |
Save your money and get an undamaged example. That will always increase in value, while the damaged one won't increase in value as much.
|
|
Valued Member
 United States
330 Posts |
Hi, Thank you for the replies. I have decided to pass on this one. Here are the scans, my camera does not want to cooperate.   I trust the seller and that is the main reason I considered it. The damaged area is more like 4:00. There also might be a problem area around 11:00-12:00. I am not in an area that sees many shows and there is only one close dealer so I rely primarily on auctions and mail order. I guess I feel better about waiting on this one. Thanks, Jim |
|
Forum Mom
 United States
5877 Posts |
To be honest, I really like the surfaces on this coin. This is a very nice AG3 coin and I think it's a good way to fill an expensive hole in your collection. Coincidentally, I just received a 1936 Walker back from ANACS in a problem holder due to rim damage. The damage is very small nicks that I didn't even notice prior to sending it in. Just my opinion, but I think it's a nice coin.  |
|
Pillar of the Community
United States
2443 Posts |
I think it looks good. Personally, I can't see the rim damage on it.
|
|
Bedrock of the Community
United States
20753 Posts |
Think I missed the price. How much was this coin? That could make all the difference. That is a coin of 508,000 minted so if the price is right, I'd go for it. Your chances of finding another with all the new coin collectors out there is becoming much less. I too do not see the rim damage. Again, the price is what I'd worry about. You expressed resale value. This would indicate you are more interested in eventually selling your coins and not as interested in collecting just for fun. That too makes a difference. Myself, I collect coins for fun, enjoyment, etc and have no intent on selling any so a coin like that, if the price is right, would be interesting.
|
|
Valued Member
United States
330 Posts |
Hi, The price is $100.00. Coin World lists G-4 at $135 I believe. The reason that I mention resale value are the unknown variables of the future. I do not want to make a $100.00 investment today that will leave me with a coin that will not be desirable in the event that I need to sell part of my collection, something happens to me and my family needs to sell the collection, or I just decide to leave the hobby in the future. I do not buy coins to turn them around for a quick profit (although I did buy several 2006-W Unc. Silver Eagles that could finance several purchases), but I do weigh the potential future marketability of a coin when deciding if I want to purchase it. If I did decide to buy this coin it would be the first "damaged" coin in my collection, at least of any reasonable value. I will have to mill this over a little more. I too thought the surfaces were nice and the rim damage designation was the only thing making me second-guess the purchase. Thanks for all of the comments! Jim |
|
Valued Member
United States
440 Posts |
I think for 100.00 is not a bad buy . The coin looks like a nice original coin. It's not been fooled with, nice wear to it with some nice details left. I would go for it. I like the way the rim is worn.
Looks really nice.
|
|
Pillar of the Community
United States
3342 Posts |
I think $50 is a fair price for this coin. Way too much wear for $100, and with noted damage.
"Two minutes ago I would have sold my chances for a tired dime." Fred Astaire
|
|
Pillar of the Community
United States
1283 Posts |
I looked at a 1799 dollar at a show that had rim damage, albeit mild rim damage. Here's the kicker. It was in a PCGS holder, and as you probably know they don't slab problem coins. According to the seller, the rim damage wasn't enough to deem it a "problem" coin. The labeled grade was Fine, and he said without the light ding on the rim it would be Very Fine. It did indeed look like a VF coin otherwise.
I'm not an expert, but if this is all true it's (possible) your could be considered a bona fide problem free AG coin. That is if the rim damage is very subtle.
Either that or PCGS just really messed up on the dollar I looked at.
Edit: In the pictures I can't see the damage at all.
Edited by USArmyParatrooper
09/05/2007 11:07 am
|
|
Valued Member
United States
411 Posts |
Congrats on your first question; this is a great forum that has and continues to be irreplaceable as a place to learn about all aspects of the hobby.  Anyway, I recently had the opportunity to choose between a 1917-D Ob. MM with EF40 details, but with a tiny notch of the reverse rim somehow missing, or one of the same date/mm in maybe F15 with no damage.  On the damaged coin, it looks as though someone surgically removed two dentils - a perfectly even cut, maybe 2mm; probably less. It's a very nice looking coin, a coin I wouldn't have been able to afford minus the rim damage. I will occasionally buy a problem coin if I know ahead of time. This dealer informed me of the damage before I bought the coin and priced the coin accordingly.  The notch is so trivial in my view, I might not have noticed it in the dealer's photos, so kudos to him. Anyway, I chose the "problem" coin over the non-problem coin because I liked it has way better eye-appeal than the other, damage notwithstanding, it looks great in my album, and you can't even see the rim problem without careful examination. I'm pretty sure it would be body-bagged if I sent it to NGC or PCGS for grading, but I'm pleased with it the way it is.  For what it's worth, I think your (potential) coin looks like a nice, wholesome circulated coin and the rim bruise looks very minor to me - ANACS wouldn't have put it in a regular holder if the damage was serious. Anyway, that's my 2 cents. Good luck. Looks to me like you've got an opportunity to acquire a nice example of a tough date. |
|
Pillar of the Community
United States
3342 Posts |
The visible rim looks OK, but what about the reeding? Any evidence of filing? As far as price, the word "details" takes it down another grade as far as I'm concerned, so net Fair-2. I still think $50 is a reasonable amount to offer.
"Two minutes ago I would have sold my chances for a tired dime." Fred Astaire
|
|
Valued Member
United States
330 Posts |
Thanks for all of the great comments. Unfortunately I can not see any of the reeding so there might be hidden damage that falls under the "damaged rim" umbrella. I think I might pass on this one and keep my eyes open for a nice one in my price range.
Thanks again.
Jim
|
|
Bedrock of the Community
United States
20753 Posts |
Again, you have to weigh the significents of quantity minted. With the massive amount of new coin collectors poping up each day, your chances of ever finding one in any condition will deminish. At $100 you would be surprized at what that would sell for at a coin show. We have a rather big one coming up here this weekend. I'll look at what they are going for there, if anyone has one that is. Like I said, with such a low mintage and such an increase in collectors, you may have a missing coin for the next hundred years.
|
|
New Member
United States
12 Posts |
I don't get it. I get 40's walkers for 3.50 - 4 bucks at the coin shop.  |
| |
Replies: 23 / Views: 2,323 |
Posted 09/04/2007 6:37 pm
