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What Is A Problem Coin?

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Valued Member
pennrj430's Avatar
United States
132 Posts
 Posted 02/11/2011  12:37 pm Show Profile   Bookmark this topic Add pennrj430 to your friends list Get a Link to this Message Number of Subscribers
Hi everyone, got a question. What is a "problem coin"? I see a bunch of posts talking about problem coins, even some coins that are slabbed and graded with a high grade are sometimes called problem coins. What does this mean, and what should we look out for to avoid problems?
Thanks everyone.
Pillar of the Community
nolawyer's Avatar
United States
763 Posts
 Posted 02/11/2011  12:44 pm  Show Profile   Bookmark this reply Add nolawyer to your friends list Get a Link to this Reply
A problem coin is a coin with a defect. Here are some common problems: cleaning, scratches, bent, holed, corrosion, pitting, environmental damage, etc.

If the problem coin is in a slab by a reputable TPG and graded, it will usually have "Details" written on the slab. PCGS will not assign a grade to a problem coin - They will just state that the coin is genuine on their slabs.
Bedrock of the Community
United States
20753 Posts
 Posted 02/11/2011  4:05 pm  Show Profile   Bookmark this reply Add just carl to your friends list Get a Link to this Reply
To me a problem coin is one I can't find, can't afford, or just sold out. Now that is a problem.
As already noted a problem coin is basically just that. A coin with a problem. Something wrong with it that is not from the Mint, usually.
Some think of a problem coin as one that is also a Mint error too.
Coins have been mutilated in so many ways that many have joined the problem coin reputation. Examples are the one people punch notations or images on, scratching stuff on them, dented from falliing or throwing and on and on with all sorts of damaging things people do to a coin.
However not all problem coins are ruined or of no value. For example on a program called History Detectives they had a coin shot at by Annie Oakly in a velvetine hardwood case. Coins shot at by famous people, if it can be proven, are always worth a lot to history buffs.
Way back people used to bite Gold coins to see if real. I wonder what a Gold coin with jessie James teeth marks would sell for.
Pillar of the Community
Australia
1040 Posts
 Posted 02/11/2011  6:49 pm  Show Profile   Bookmark this reply Add latman100 to your friends list Get a Link to this Reply
This is a problem coin. Note the scratches and gouge. Of note is how a problem can affect a coins value significantly. This coin is the key of the Australian pennies, and arguably the key of the entire Australian series.

Without problems, it is worth around $28,000 in this grade. With it's problems, this coin is worth around $18,000.


What-Is-A-Problem-Coin?
Valued Member
pennrj430's Avatar
United States
132 Posts
 Posted 02/12/2011  7:33 pm  Show Profile   Bookmark this reply Add pennrj430 to your friends list Get a Link to this Reply
Ok, I got it.. So, a problem may not affect the grade, but will make the coin less desired.. Thanks for clearing that up for me guys!
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Nic's Avatar
Philippines
1156 Posts
 Posted 02/12/2011  7:44 pm  Show Profile   Bookmark this reply Add Nic to your friends list Get a Link to this Reply
As the saying goes- beauty is in the eyes of the beholder.
A coin becomes a problem when the collector who owns it says so, or in the owner's eyes- the defficiencies outweigh the merits.

All a matter of taste.















Valued Member
odentheviking's Avatar
United States
425 Posts
 Posted 02/13/2011  11:22 am  Show Profile   Bookmark this reply Add odentheviking to your friends list Get a Link to this Reply
Very true Nic, I find alot of "Holed" coins and "Cut" coins that are in very good shape but collectors want nothing to do with them. I love em!
Valued Member
odentheviking's Avatar
United States
425 Posts
 Posted 02/13/2011  5:48 pm  Show Profile   Bookmark this reply Add odentheviking to your friends list Get a Link to this Reply
This could be a "Problem Coin" also!!
https://goccf.com/t/80680
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