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Replies: 37 / Views: 30,228 |
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Pillar of the Community
United States
870 Posts |
In another thread, one forum member mentioned that a lightly cleaned coin lost about 1/3rd of its value. The coin was graded about VG10.
My question is, understanding variations in cleaning, how much should that effect the value of the coin, in general? A light cleaning on a mid grade coin may drop the value by 1/3rd. What if the coin is a higher grade? Does a light cleaning drop the value by more than 1/3rd?
And how much does heavily cleaning hurt the value of a mid-grade coin? And how much does heavy cleaning (swirl marks) or definite "dipping" (blast white yet 100+ years old) of a coin effect the value of a higher grade coin?
Thank you for your help!
PS: I haven't cleaned any coins recently - I'm just curious about what the market says and knowing a fair price to pay. =) Edited by delaner 07/06/2010 11:38 pm
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Pillar of the Community
Philippines
1156 Posts |
assessing the percentages would be difficult, the buyer's appreciation of the goods is paramount to the price the buyer is willing to pay. in essence, if one is intending to resell those nice coins one has obtained... then please, cleaning is out 
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Pillar of the Community
Australia
585 Posts |
Quote: How cleaning effects the value of a coin ? I can tell you exactly: a lot!
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Pillar of the Community
United States
532 Posts |
Its a loaded question to try and answer but it comes down to understanding the WHY it decreases the value.
For instance on lower grade coins, it does erode some of the value but not as significantly as a higher grade coin by contrast. This confuses many collectors as they think cleaned=instant junk. Its not the case at all.
You mis handle a MS or Unc coin and it drops its value because it is no longer mint state.
Sample values $$$ Grade 3700 MS 69 1000 MS 66-67 350 MS 65 175 MS 63 75-125 AU 40 XF 10 VG 4 AG
Now obviously the above is just for use as a generic example but it can help to see how dramatically it damages the coins value on the extreme high end is because to even achieve such a high end grade the coin MUST be unmolested. The removal of crud or perhaps a speck of debris is not altering the coin...but once you wipe, scrub, or chemically treat the object it can no longer be considered MINT STATE so therefore while it might still look appealing, and might even recolor or come back to a more true look...it has been forever altered and thus forever barred from reaching the elusive higher grades.
Pop an MS68 coin from its holder and just rub it between your fingers and you just did the same thing. You physically changed it. No matter how slight or how insignificantly the changes to the surfaces might seem from the original fresh from mint or "original" condition, the change is still there.
The moment the argument comes that a coin looks BETTER shiny, or better brighter so you can enjoy it more etc, you are ignoring the scale that is based on original surfaces. And original intended condition. Original unmolested condition. Strike, eye appeal and condition all play into the grading but as an easy rule...original is always better. Therefore it holds a higher price tag and is more sough after by collectors.
Toning vs non-toned is in the eye of the beholder but it almost separates the market in half because of the buyer preferences. Many argue that heavy toning IS an alteration of the coin's original surface therefore it is not eligible for such high standings and elite rankings. While others contend it is pure and completely natural and brings out beauty that actually enhances the coins eye appeal..all part of the elite grades...
Another example- I am buying a significant coin for my collection...not something I can afford to do because I'm bored on the weekend. It is a coin I am going to put some effort, thought and a good piece of my wallet into...So when I see one cleaned vs uncleaned even with a significant price difference..I opt for the original surfaces...because it is "original" Just by me spending more on it based purely on my own perception I am further perpetuating the driving forces behind the pricing spread. The same coin in similar condition but "cleaned" is not as sought after by me...so it becomes second choice...and so it wears a smaller price tag to compensate.
Roll this logic and entire hobby into itself and all the factors such as why the coin is wearing a high price tags to begin with...usually rarity. Finite numbers of coins exist. Through handling and transactions and transfers these coins have the potential for being damaged, mishandled or even just improperly stored thus effecting the number of existing specimens in those elusive higher grades. So we tend to fight for them and drive the prices to the moon on them....because we all want the best coins we can for our collecting enjoyment.
Trying to have a steadfast blanket statement is very difficult to put into words so most just avoid altered coins period. It is more just from seeing the coins sit next to one another and being aware of the different price tags they are wearing. Those price tags shift from coin to coin and from one situation to the next for the severity of the said alteration, and the discrepancy between the two price tags. Most importantly is so not let your own vanity or pride get in your way if you personally cant tell the difference. Once a collector experiences more of the situations where the coins are next to one another it becomes obvious and that "altered" look takes away from the enjoyment of the specimen. This is reflected in how eager they are to pen their wallets....
-RFB
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Bedrock of the Community
United States
20753 Posts |
To make a long story short, almost any cleaning lowers the value of coins, knives, guns, swords, etc. Even old furniture could possibly become much lower in value by cleaning. Naturally the amount of cleaning also plays a part in the value. Polishing, scrubbing, dipping in acedic substances can really lower the value of coins. The amount of depreciation due to cleaning is really an impossible subject since the original value, amount of cleaning, original condition and just how badly someone wants the object plays a really important amount.
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Pillar of the Community
United States
2120 Posts |
I think one good reason that cleaned = bad.
Even if the coin is dirty (Toned / whatnot) It's assumed that you always have the option of Cleaning it... but with a cleaned coin you dont have the option to restore features. Well, not in any honest way that is.
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Pillar of the Community
 United States
870 Posts |
Thank you for your thoughts on this post, RFB.
Along the lines of your simple "Sample Value" table, I'd be interested to know the difference between an MS-63 and a coin that has MS-63 details, but a details:cleaned grade - if there even is such a thing. Perhaps XF is more common? Is there such a thing as a coin that would grade MS63 were it the slightest bit cleaned?
Case in point - I recently bought a 1986 Ellis Island proof set. For me, it's a beautiful and significant coin set as my family traces its roots through E... I digress.
When I got the coins and took them out of the plastic casing, they had clearly been handled. There were some sort of oils that made them look like they had been fingered a bit, and I was pretty bummed. I took a soft cotton cloth to remove the fingerprints, and I realized as gentle as I'd tried to be, I left some swirlmarks.
Obviously these aren't significant coins. Obviously, I have no real interest in selling them, or their value - they were one of my first numismatic purchases, and given the ties, et cetera, I'm not likely to buy more because they now have intrinsic value to me. BUT, how much have I screwed these coins up?
Anyway, it's irrelevant. The reason I'm asking is because if I see an honest auction - one that describes coins as cleaned or a slab with a details grade, I want to have an idea what a fair price is. Of course, I understand the axiom that the item is worth whatever somebody will pay for it, however, I'm trying to be smart about this and not get carried away or do anything silly. I'm a very logical person, so in my mind, there must be some general mathematical formula that applies. Thus, the question: how much does cleaning a coin effect its value.
I'm working on a grand unifying theory at the moment... I'll get back to you I 50 years when I figure it out. ;)
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Pillar of the Community
Philippines
1156 Posts |
Great thoughts there RFB, that's one wiewpoint which I had never considered, the extreme MS grades yes, I do agree with that
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Valued Member
United States
72 Posts |
Those grand unifying theories do take time to develop.
As has often been said reviewing completed e-Bay auctions is a good way to get a feel for current market value. You could even set up separate searches to include the word "details" and not and compare the price differences between the two.
I just did a quick search for 1986 Ellis Island and only saw one that was graded, a PF-69 for $69.95 buy-it-now. Most were still in their original mint holders and were going for $25-30, 2 were not in holders and going for about $20.
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Valued Member
United States
365 Posts |
Just a couple more cents to pitch in: 1) kudos to RFB for a very thoughtful and well-reasoned response.
2) behind Delaner's question about the effect of handling and cleaning on coin values is the broader question of how to decide what are good values online/at coin shows/in shops for any coin, and how to avoid getting suckered into locking cash into an instrument that will never return that investment to you (one day). It's the anxiety of every coin collector, down deep, and each of us has more or less lucid ways of reassuring ourselves that we aren't. I'd go so far as to propose that most coin collectors believe they're coming out "ahead" in some way or another. (Nobody likes to think of themselves as a fool, including myself!)
Just as many of us, however, would probably acknowledge that there's something profoundly arbitrary about values, and so we have to accept that 'winds could turn' and make fools of many of us. I can't tell you how many dealers--by way of example--list items that were the subject of an "old cleaning". Will the day come when we start making distinctions between old and new cleanings? Or between light cleanings and heavy? To a certain extent, those days are already here, furthering the notion that not all cleanings were created equal and thus do not all kill value to the same extent, and that coins we may have passed over, scoffed at or turned up noses to, carry more value than we'd like to think. In the final analysis, buy coins you like, find attractive, etc., and yes, be weary perhaps of coins that have gotten handled roughly. But as long as your collection reflects what you like, I think it's serving its primary purpose! (Oh and be sure to return the ones you don't like for a full refund!)
-SCS
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New Member
United States
10 Posts |
I dont think RFB knows what hes talking about.
Just my opinion.
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Locked
822 Posts |
Quote: I dont think RFB knows what hes talking about.
Just my opinion. Well since you put up such a convincing argument.... 
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Pillar of the Community
United States
4846 Posts |
 ...  i wouldn't do that on your first post, epically not that rude
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Pillar of the Community
United States
1534 Posts |
Quote:
I dont think RFB knows what hes talking about.
Just my opinion.
What RFB pointed out was fact and a good point. Edited to become a bit "nicer" as Adam suggested. It just pushes my buttons when a random person just goes ahead and flames a member with a foolish post like that. Quote: every opinion is worth something Not if it's a random bash supported by absolutely nothing.
Edited by wheatguy 07/18/2010 12:17 pm
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Pillar of the Community
United States
4846 Posts |
oh cmon, don't be that mean, every opinion is worth something
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Bedrock of the Community
United States
10284 Posts |
Quote: oh cmon, don't be that mean, every opinion is worth something but considerably less if it is cleaned. 
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Replies: 37 / Views: 30,228 |