Effect Of Planchet Defects On Value Of Coins

Not getting any images.



to the CCF!

Maybe it is that divot above the eagle? If so, then I'd be glad the TPG noted it as a flaw rather than not mentioning anything as a pretty good assumption would be damage.

I'm curious how the TPG treatment worked. I have a raw XF-AU 1893-CC eagle with a similar flaw underneath one of the stars. The star struck fully on top of the flaw, so it's a bit of a curio, but it is noticeable. It's interesting to me that your coin received a numeric grade instead of a details grade. You can't hide a flaw like this, and the note on the tag indicates a pre-strike impairment.

How much it affects the price is another matter. It's not as objectionable as post mint damage like corrosion or scratches. But it does detract from the appearance. Maybe 25% off an unflawed example? Looking at MS 1857's on PCGS, that's the same as taking a hit on the grade from a 62 to a 60 value-wise. This is not a rare coin, and collectors have plenty of examples to choose from.

and great question (and username)!

This is exactly why there is EAC grading for the early copper coinage. It's almost always net graded and defects are taken into account. There isn't a real easy answer though. ICG was always pretty good about noting planchet issues and flaws in their early days. (Side note my old coin business partner and high school friend started ICG but no longer has anything to do with them).

Planchet flaws will always affect the price of a coin, though it may or may not be mentioned on a TPG holder label.The EAC Grading Guide book goes into this aspect a little, it's always hard to say the value as each flaw is unique (usually) and different. Is it in a main focal point on the coin? Is it messing up a major part of the design, or is it hidden in an out of the way area of the coin's design? All of these would have cause to affect pricing. Sadly there is no easy way or generic way to tell this. It's always going to be on a coin by coin basis.

I direct you to this old thread here at CCF:
http://goccf.com/t/394331#3374316
to see more about the EAC Copper Grading Guide book. It's just now out of print and getting hard to find, though copies still pop up around the $50-75 range at the usual places, abeBooks, ebay, Kolbe & Fanning, EarlyCents.com, Charles Davis, etc. Worth getting a copy if you have any interest in early copper coinage, colonials, half and large cents, etc. before the book breaks the $100 barrier, which it will like all the better reference books. They printed a lot more of these than most other reference books around so prices are still low IMO.