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 Replies: 33 / Views: 3,391 |
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New Member
United States
15 Posts |
Ok here is the deal.
I have a chance to buy a rare coin in an anacs details holder. It has been plugged cleaned and scratched...lol.. with a low grade.
However this is a very rare coin in any grade with maybe 500 or less specimens noted.
Value of this coin in the grade assigned without details is 900 dollars.... I think I can get it for half that.
So this coin is darn near impossible to find with a decent price.. and to top it off it is a CC...
So I am asking if you were collecting a series with a limited budget would you go for it? Or would you try to save up 1000 to 3000 dollars a hope one comes along in a low enough grade with no details.
I am torn myself... this would be the rarest coin I have and help achieve a chance to complete a set down the line.... but it's a details coin with 3 problems... not sure if the value is there in the long run.
Help...lol
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Pillar of the Community
United States
1911 Posts |
I believe most would say wait but since it is a rare one... The question is do you like it? I that is a lot of money for a problem coin. Would you ever regret getting it looking how it does? If not go for it, but think carefully since that is a bit of money. Good luck!
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Pillar of the Community
United States
3330 Posts |
I am thinking that I would rather have one of better quality than that. With those kind of problems, I would be reluctant to pay more than $200! May I suggest that you try to check sales of that coin - if there are any (may not be any because of rarity) especially in equally bad condition. Not only check ebay, but also HA.com. I would be interested to hear what you decide. |
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Pillar of the Community
United States
5825 Posts |
When you buy a coin with a problem you will always have a coin with a problem.
You have to decide if you will be satisfied with that.
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Pillar of the Community
United States
6370 Posts |
500 specimens known is not particularly rare. If it was 100 specimens or less known, than that would be a different story. Letting us know what kind of coin you're talking about will help greatly. The coin you describe has a lot of problems. A holed coin without any other problems is typically worth 10-20% of the value of an undamaged specimen, with the exception if the hole was expertly plugged and reengraved, making the hole almost imperceptable. If that's the case, then I may go 30-50%, depending on how badly I want it. The coin also has other problems to deal with, namely scracthes and a cleaning. They both also hurt the value. In all, the way the hole is plugged would determine the value of this piece. I wouldn't feel comfortable spending more than 30% of the coin's problem-free book value, much less so if the hole was crudely plugged. To give you a couple examples, I have an AU-50 1846 Seated dollar with an unplugged hole that I got for 10% of book value, and I have a VF-25/30 1818/5 quarter with two bisecting obverse scratches that I got for around 7% of book value. Damaged rare coins are always worth less than you might think. But if you REALLY want that hole filled, there's nothing stopping you from paying whatever you want for this coin. I certainly won't stop you. |
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New Member
 United States
15 Posts |
I like the look of the coin.. also I don't think my budget will allow me to spend 1 or 2 thousand and honestly I never thought I'd even get one...lol... I don't mind the details grade.. but besides ebay it would be a tough sell down the road to anyone even though it's a rarity. |
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Pillar of the Community
United States
6370 Posts |
Also, I got matttheriley an EF/AU 1877 Trade dollar with an unplugged hole for 17-19% of book value at a major coin show. Hopefully, this will show you the market for these kinds of coins. |
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Rest in Peace
United States
17900 Posts |
Naming the exact coin would be helpful. However, as a general rule, the type of problem (or problems) and how they affect the value depends primarily on the coin type and how difficult (expensive) that coin is to find without problems. For example, many collectors of early copper Half Cents and large cents accept some amount of Corrosion, as the vast majority are found with some degree of that problem. Since, that problem doesn't negate the value quite as much, minor corrosion is more often accepted by more collectors. This is not to say that an early copper without any pitting is impossible to find - but true no problem early copper attracts great attention and high prices. Since you mentioned CC I'd guess you are probably talking about a Morgan dollar. If such is the case I would simply say that a plugged hole is a real price killer for all but the very rarest of the rare. Frankly, I'd never pay more than 20% of ask for any Morgan that's been plugged. That's even forgetting those other problems you mentioned. |
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New Member
United States
15 Posts |
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Pillar of the Community
United States
3330 Posts |
Quote:
500 specimens known is not particularly rare.  I have recently refocused my active collecting to varieties of Large cents with very low census figures (5-40) known. With 500 known just doesn't seem all that rare to me either. I can tell from your last comment that you really want it! I think that it is o k to pay more than it is worth if you really think you can live with the idea of not getting your money back. On the other hand, a couple of deep breaths and some patience may pay dividends!  |
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Pillar of the Community
United States
3330 Posts |
Edited by Pete2226
07/05/2015 1:16 pm
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Pillar of the Community
United States
2077 Posts |
Quote:
I have recently refocused my active collecting to varieties of Large cents with very low census figures (5-40) known. . Lower limit of 5? Is that so you don't have to include the 1825 N-5? |
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Pillar of the Community
United States
3330 Posts |
Quote:
Lower limit of 5 5 is not a lower limit for me - it just happens to be the lowest census LC I own!  |
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Pillar of the Community
United States
6370 Posts |
Edited by TypeCoin971793
07/05/2015 1:25 pm
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Pillar of the Community
 United States
2362 Posts |
I've bought details coins when I know that I would never be able to afford a problem free coin. For me, a plugged coin would be a deal breaker. However if you feel that you'd be happy with the coin in the long term - that's most important.
Member ANA and EAC "You got to lose to know how to win". Dream On by Aerosmith |
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Pillar of the Community
United States
3330 Posts |
Quote:
That said, I would not go over 20-30% of the book value of this coin in whatever grade it's in. Your points are well taken! I should have been more thorough in my research!  Although, my first thought was not to pay over $200 - I should have stopped there. |
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Replies: 33 / Views: 3,391 |
Posted 07/05/2015 12:53 pm
