My first "Cleaned Coin" purchase

joeykoins · March 29, 2021 10:38AM

Hi guys. Usually when I even hear the word,"cleaned", I shy away. Well, not this time. Lol. Couldn't pass this up. For a few reasons. First, PCGS authenticated. Then the history behind the Indian cent. The actual grade, AU. Even though the coin is cleaned, the AU can still be valuable? Also, a possible variety? The DDO? Maybe the word, America, can have doubling. Then finally, for only $20, one can't go wrong, right?

WaterSport · March 29, 2021 10:52AM

I can see your logic regarding the company and the AU for the price despite being cleaned. If you do have the DDO for that year picked, Congrats, but Indian cents are known for Longacre Doubling. error-ref.com/longacre-s-doubling/

WS

joeykoins · March 29, 2021 4:07PM

Here is an example of a Cleaned coin that was designated by PCGS, (one I sent in), that I quickly disposed of. Lol Soon after I got it I decided to make a trade with my dealer friend. I didn't want any part of it. Luckily, my friend did. The trade was very pleasing to me. Received two NGC graded coins in return. Equaling to a satisfying $300. My friend was very generous and very desirable of my clean coin that badly. Lol. That's how I felt with this Indian cent. Wanted it that badly! Albeit, being "CLEANED".

Here's that coin Worth approx $1000, if not cleaned.

That is now in my friend's possession.
1920s FB "Cleaned"

ricko · March 30, 2021 7:42AM

@JoeyCoins ... I do not see a DDO on that cent....Other than that, a nice IHC.... Cheers, RickO

keets · March 30, 2021 8:01AM

actually, this would be at least your 2nd cleaned coin and if I judge by some of the photos you have shown in the past, there are more than that. the color looks off and I suspect that if you had taken a loupe with you to this shop you could have verified no DDO and spent that $20 on something else. to be honest, I can't say if $20 for the coin is even a good price. using the PCGS Price Guide it might seem like it, but those prices are for problem free coins. I know of no price guide for problem coins. leaving it in that holder will be hard to sell, taking it out means GreySheet at around $30-35, but again, for a problem free coin.

we all end up with problem coins, it happens occasionally when you consider the lighting at different venues. what I don't understand and try to avoid is buying them intentionally.

joeykoins · March 30, 2021 8:44AM

@keets said:

I suspect that if you had taken a loupe with you to this shop you could have verified no DDO

Thanks for the reply and concern. Yeah, I did take my loupe. I thought I'd seen something in the word America? Wishful thinking. Lol. You're probably right in your conclusion about saving the $20 for another coin. I just felt the need to buy this authenticated Indian for my collection. Then thought I can have fun later at home with my scope trying to catch any sort of doubling. Also, the shop I was presently at had just moved to this new location. Thought I christened the visit with a small purchase. Lol Thanks again. Keets.

keets · March 30, 2021 8:46AM

the good will of the first visit purchase will probably pay dividends in the future. smart move.

airplanenut · March 30, 2021 9:02AM

@joeykoins said:
Hi guys. Usually when I even hear the word,"cleaned", I shy away. Well, not this time. Lol. Couldn't pass this up. For a few reasons. First, PCGS authenticated.

If this were an 1877, I'd care that PCGS authenticated. But a common date? Nope.

Then the history behind the Indian cent.

Indian cents are cool. They're also a dime a dozen problem-free.

The actual grade, AU. Even though the coin is cleaned, the AU can still be valuable?

An AU common date isn't particularly valuable when problem-free. The more common and inexpensive a coin is problem-free, the less desirable it will be with a problem. And cleaned copper can be particularly offensive given how off the color tends to look.

Also, a possible variety? The DDO? Maybe the word, America, can have doubling.

If it's a variety with significant value, then make the judgment call of value based on that. But if it's just a regular old cleaned AU cent...

Then finally, for only $20, one can't go wrong, right?

By all means, if you'd like to send me $20, as you said, you can't go wrong, and I'll happily take it. I'll even send you a coin worth $1 to prove that yes, for $20, you definitely can go wrong.

291fifth · March 30, 2021 9:18AM

Someone else's problem is now your problem.

jedm · March 30, 2021 12:11PM

@keets said:
the good will of the first visit purchase will probably pay dividends in the future. smart move.

This is how I'd look at it as well.

cmerlo1 · March 30, 2021 12:20PM

Not the DDO. You'd easily see it in those photos.

RB1026 · March 30, 2021 12:25PM

Sounds to me like you are having fun with coins. Looks like you are getting a good deal of pleasure out of your $20. I know a lot of people who spend a helluva lot more than that and enjoy life a lot less. I think sometimes we all get too hung up on profit and loss and forget to actually enjoy the hobby. Good for you.

SIowhand · March 30, 2021 12:39PM

I've done dumber stuff with $20.

cmerlo1 · March 30, 2021 12:40PM

It's actually a decent-looking coin considering the cleaning. Copper can turn all kinds of ugly colors when cleaned, but I think you did well on that one for $20.

Avocet · March 30, 2021 1:05PM

The issue of cleaning is interesting in that cleaning has become a near-mortal event for a coin in numismatics. While I understand that logic completely, it seems important to have fun with collecting also. If you enjoy this coin then you have probably done well as you may consider its value a combination of what someone is willing to pay for it and how much you enjoy it. I would also not disagree that you might not enjoy it as much as you felt that you greatly overpaid for it, but you are having fun with it and that counts for a lot...