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How much does the damage effect these Seated Dimes
Fropa
Posts: 71 ✭✭
A friend has these 3 Seated Dimes, unfortunately they all have some damage. I'm curious how much the damage effects their value. The 1857 I grade as G-4, but has 2 dark spots on the obverse and a green spot on the reverse. The 1853 I was thinking maybe VG-8, but it has lots of hits and scrapes on both sides. It also looks like someone carved an X under the ribbon. The 1873 I think is a really nice VF-20 (Maybe F-12 on the reverse), but has the 2 scratches in the right field and is weak in the reverse center.
Thanks for the help.
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Well those dates are common so you can find much better.
Yes if you are obligated to buy them then discount them off of retail.
I was just asked to see if any of the coins she found after her dad passed away were worth anything, not sure if she's even thinking about selling. Most was post 1940s plus a few common Indian Heads and Buffalos. I don't look at damaged coins when buying so was asking as much for my education and to explain to her how much the value is reduced from the different degrees/types of damage.
Thanks for the response.
Many budget collectors would probably be willing to overlook the problems on the 1857 and the 1873. The coins are well worn and they might just consider the damage to be typical of the grade. The damage on the 1853 Arrows is more obvious so a reduction of a grade in value would be appropriate. Budget collectors would probably still like the coin.
Only buy if very discounted.
I always say: Can I live with this?
If not, pass
BHNC #203
I have similar questions and own some similar coins...
if there is 'minor' damage, is that generally equivalent to reduction by 1 grade, or is there no 'general' case?
am
It all depends on the coin and its overall look. There is no general rule. The three coins in question here are all relatively low grade coins that are raw and likely to stay that way. None are worth the cost of slabbing. As such, they make good album coins for the budget collector. Many collectors have been priced out of the market for better coins and are now willing to settle for less. They just like to collect, which is good.
If I am recording my coins in a spreadsheet, for example, and I want to put approximate FMV for each (for insurance purposes, or whatever), how would I value the minorly damaged coins? Probably reduce a grade? Maybe as you say, for the lower grade, common, not so valuable coins, the damage doesn't really matter, and the FMV (which is just an approximation anyway) could be left as if undamaged, or based on 1 grade lower... won't make much difference to the overall collection value anyway, unless the collection is mostly damaged coins.
What you ask comes only with market experience. There is no general rule. Inexperienced collectors tend to overvalue what they have. Some collectors say they never sell a coin. These collectors will never learn the true market value of what they have. Only when you actually go into the coin marketplace and actually try to sell do you really gain such knowledge.
I used to have a Dansco filled with seated dimes just like those. I liked the way it looked as a whole, all kind of the same color and tone. No shiners. Never completed it, too many tough dates. Sold it at about 60% complete, excluding Grandpa's 3 or 4, which were starters for the whole adventure. Moving on.
The 1853 will be a 'details' grade with graffiti... The other two are low grade....Not worth slabbing. Good album coins. Cheers, RickO