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 Replies: 20 / Views: 2,134 |
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New Member
United States
17 Posts |
I submitted 19 coins to PCGS to get graded that I bought off of ebay that were slabbed by a third tier grading company. I knew they were not properly graded, but now that they have been pronounced cleaned, altered or whizzed, are these coins worthless...besides the melt-down value? |
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Pillar of the Community
United States
827 Posts |
well, they're worth what people are willing to pay for them. Pure numastic speaking they have lost ehri worth and are worth face value or melt or a tad more. But some people don't care if it's cleaned or not and just need to have that shiny pretty looing coin and are willing to pay crazy amounts for what purist would never even consider buying. So worth is the eye of the beholder.
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Pillar of the Community
United States
1130 Posts |
They are not worth as much as one that has not been messed with but, depending on the rarity, still worth a lot. Send it to ANACS and they will slab it, with a quick description why your coin was net graded as a "problem coin".
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Pillar of the Community
Canada
1267 Posts |
Ouch!  You could always send any keys off to anacs as they will holder problem coins, any common date or low grades just are not worth putting any more money into. |
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New Member
 United States
17 Posts |
Thank you very much for the quick responses! I really do appreciate the feedback. I am not sure what to do with the coins, and I now have some options.
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Pillar of the Community
United States
533 Posts |
Out of curiosity, what were the original "over" grades? If they were AU or MS, that may be a problem. However, I have some old Barber quarters that I know may have been cleaned in the past and have no problem with them. However, if they were whizzed to be passed as AU, they are worth significantly less. |
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Pillar of the Community
United States
2797 Posts |
bcow527,
You could do this community a service by listing the slabbers and providing pictures of the coins if possible. It won't help you recoup your losses, but it may allow others to avoid the same predicament.
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New Member
United States
17 Posts |
They were all MS, and when I get the coins back I will post them.
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Pillar of the Community
United States
5318 Posts |
Sorry to hear...I would be surprised as well. As much as I dislike cleaned coins, I think it's rather sad how obsessed the TPGs have gotten about this. Certainly cleaned coins that have a damaged surface have lost value, but less intrusive cleaning has been "body bagged" as well. The truth is that many coins approaching the century mark (or younger) were cleaned in their past to varying degrees by well-meaning collectors. Now the TPGs are effectively stigmatizing any cleaned coin...does anybody else see a problem here?
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Pillar of the Community
United States
1130 Posts |
Can you imagine owning a classic Ferrari or Corvette and the value decreased because it was previously cleaned ?  Edited by 1sikevo
01/23/2008 4:18 pm
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Pillar of the Community
United States
5318 Posts |
quote:
...imagine owning a classic Ferrari or Corvette and the value decreased because it was previously cleaned?
Lol...right!  Those cars are re-lacquered and re-upolstered to sell into the stratosphere (although original parts mean a lot). As for collectors of anything, they need to know what they're buying. I'm concerned that slabbing is becoming the defining mark of a quality coin, where the buyer/investor doesn't really need to know anything: close your eyes and buy that slab! Personally, I think that's a fallacy that will be disproven in time. Edited by KurtS
01/23/2008 5:00 pm
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Pillar of the Community
Canada
1267 Posts |
KurtS, as collectors we should be able to see previous cleanings ourselves. To me, as with many others, originality is a must and any type of cleaning (and I include dipping) destroys this originality. I applaud the TPG's who refuse to put these coins in holders (anacs will, with the problem noted on the slab). Remember, it's not just the grade that is being guaranteed but the originality as well.......if bcow527 had bought his coins slabbed by one of the big 3, he wouldn't have started this thread. |
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Pillar of the Community
United States
5318 Posts |
Hadley, I have no argument with your points. I am particularly averse to any cleaning that harms the original minted surface, MS or otherwise. I should elaborate further to state the cleaning I'm referring to is that which merely removes dirt without harming the coin's surface to any visible degree--other than possibly revealing underlying mint luster. Otherwise, I totally applaud that TPGs root out dishonest coins. I think the current high premiums over minute grading differences has contributed to this problem.
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Pillar of the Community
United States
1130 Posts |
I don't like how you get blindsided and lose your whole fee for getting the coin BB'd. At 30 bucks apiece, not including shipping and insurance, that really adds up.
I just sent 5 coins off to ANACS today for that reason. If it's been cleaned in the past, then authenticate and state it, don't just take my money and send the coin back with a sticker.
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Bedrock of the Community
United States
12437 Posts |
ICG has a bit of a different BB policy as well. If a coin is rejected, they list the reason for rejection and apply the grading fee toward a future submission, less $5 for handling fees. http://www.icgcoin.com/Default.aspx?tabid=655ANACS and NCS are the only two that will slab a problem coin though. I personally do not have a problem with cleaned coins as it can be hard to avoid in some early series and I even have a few in my collection. I would never clean a coin but I do conservation work every once in a while. If the cleaning is done gently the eye appeal is not harmed too much especially if it has retoned in an album, kraft envelope or some other natural method. I just have a problem with the ones that someone scrubbed with steel wool, those are just plain ruined  |
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New Member
United States
17 Posts |
hadleydog, ".......if bcow527 had bought his coins slabbed by one of the big 3, he wouldn't have started this thread. I started the the tread to see if I could get some feedback on the situation, not to hear the obvious! That is why I sent them into PCGS in the first place....to get slabbed by the "Big One". Using your logic....no one should buy a coin unless it has been slabbed from one of the big three. I am not talking about grading differences, I am talking about fraud...I expected the grade to be lower, but not that three different grading companies would actually grade a cleaned coin, and before you ask...I had a local dealer look at them before I submitted them, and without breaking them out of the current slab, he thought they were good to send in to PCGS.
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Replies: 20 / Views: 2,134 |
Posted 01/23/2008 12:58 pm
