Is There Hidden Value To Be Found In Cleaned Coins?

Most collectors will just say no ....

I think it depends.

One - how bad was it cleaned

Two - is it a key or semi key. Or a better type coin.

Bad cleaning .. to me is
Polished - buffer wheel type polished
visible cleaning lines

For better coins, a cleaned 1893 S Morgan will have value.
But a 1921 cleaned Morgan might be hard to get the silver
value from it.

Sometimes you will see older coins where the say, has a old cleaning.
That means is was cleaned long enough ago that the coin is/has
started to go back to a natural tone. Even though many times
you can see a shine under the tone.

What I am saying some collectors have less problems with the older
cleaned coins then the bright just cleaned look.

Some coin will tone back with such a different look, sometimes
color tone that many find appealing.

Once I bought a very ugly stained 1933 walker from a bid board
auction. I ...removed the stain and work for about two years
getting it to re-tone. When I was done it was a nice golden
look that even looked like it had luster. I sold it back at
the same auction for three times what I bought it for.

I wish I still had it in my collection.

I did the same thing to the coin that normally makes coins tone.
Sometimes you can speed up the process a little.

I guess all I am saying, sometimes a cleaned coin can become
more acceptable. Sometimes there is no help for them.

Or I guess we could start a rule

All cleaned and very worn coins should be taken for melting.
So they wont end up in anyone collections.

Just to show what I mean. When I got this coin, you could
not tell what it was, except that it was a quarter.
Had to look hard to see that it was a Standing Lib.

If you like the coin buy it. Take the coin over the condition. If all you can afford is cleaned, take cleaned.

I used to have an AG3 1846-C half eagle. I popped it out of the slab and made it a pocket coin. One day I sold it for more than I had paid, to someone that wanted it more than I did. I regret doing that. Because I really liked that coin. And it's very unlikely I'll ever find another.

I have a harshly cleaned (obverse) S mint 5 dollar gold piece, paid melt for it. Super solid strike and MS details. But when the light hits it right, it just screams at the grooves/cleaning lines. It is now occasionally a pocket piece and it is one of my favorite coins, but that is beacause handling it will likely be the only way to improve some of the damage. I wouldn't dare treat any of my other coins in such a manner, handling them like I do the half eagle. But because someone did clean it, I now get to enjoy having a piece of history tag along with me on my daily travels.

My friend Mark Borkhardt of Heritage Auctions had a great/slide show talk at the Early American Coppers convention in Irvine, TX two years ago on "detail" coins in TPG holders that were still a good value, I know it was filmed by David Lisot of Coin Television, I'm hoping it comes out on DVD soon. THere are certainly some good values out there siting in "detail" or cleaned holders.

Here's an example of an ugly coin.

http://www.ebay.com/itm/1840-1-Libe...AOSwARZXn8~R

@MikeF that is an astoundingly ugly coin. It is rare and original but for $23,267 it definitely needs the right buyer. I like Seated dollars but I am not in the market for that one at any price.

I prefer originality and authenticity to cleaning and alteration. I will happily pay premiums all day long for choice coins with original surfaces.

There is no "hidden value" to cleaned coins unless it's the only way you can possibly ever afford an example of a certain issue.

Even if you personally think cleaned coins are the next big thing, odds are 99% of the numismatic community doesn't, and they're the people who will be buying your coins someday -- i.e. making your market -- and buying coins now you won't be able to sell later if needed does not make good sense to me. But to each their own.