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Debating What to Do With this Damaged 1838 O Half Dime

EddiEddi Posts: 455 ✭✭✭✭✭

I recently came across this 1838 O New Orleans Half Dime. In the seller's pictures It looked quite nice and in high grade, and in spite of what seemed to be some edge disturbance on obverse and reverse I decided to buy it. It cost the equivalent of $238.

In-hand the coin is pretty much as shown in the original pictures, except the edge damage is (much) more severe than I had thought. A severe edge dent, affecting both sides, with the consequence the planchet is no longer perfectly flat.

I am now debating what to do: on the one hand, the 1838 O half dime is a scarce coin, specially in higher grades, and the cost was very reasonable. On the other hand, the damage is quite evident.

What would you do? keep it ? or return it?





Comments

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    privatecoinprivatecoin Posts: 3,185 ✭✭✭✭✭

    Did they say it was damaged in the listing?

    Paper money eventually returns to its intrinsic value. Zero. Voltaire. Ebay coinbowlllc

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    seatedlib3991seatedlib3991 Posts: 512 ✭✭✭✭

    At that price I would keep it. I just don't know what YOUR standards are or whether or not you bought it with the idea of slabbing it.

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    The_Dinosaur_ManThe_Dinosaur_Man Posts: 837 ✭✭✭✭✭

    I would keep it and upgrade it later on, provided the dealer disclosed that it was a damaged piece. If the issues weren't described, I'd return it or negotiate a refund to the amount that accounts for the damage.

    Custom album maker and numismatic photographer, see my portfolio here: (http://www.donahuenumismatics.com/).

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    291fifth291fifth Posts: 23,942 ✭✭✭✭✭

    RETURN IT! It is a problem coin that you will never love.

    All glory is fleeting.
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    MFeldMFeld Posts: 12,052 ✭✭✭✭✭

    Can you enjoy it? If so, as long as you do, keep it. If not or when not, let it go.

    Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.

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    BillJonesBillJones Posts: 33,484 ✭✭✭✭✭

    I would pass because I don't enjoy owning pieces like this. The 1838-O have half dime is very tough in high grade, and it is historic because it was struck during the first year of the New Orleans Mint's operations.

    The price is fair although I don't know how easy it would be to see this piece if that time comes.

    Retired dealer and avid collector of U.S. type coins, 19th century presidential campaign medalets and selected medals. In recent years I have been working on a set of British coins - at least one coin from each king or queen who issued pieces that are collectible. I am also collecting at least one coin for each Roman emperor from Julius Caesar to ... ?
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    coinbufcoinbuf Posts: 10,767 ✭✭✭✭✭

    My vote is to return it with the caveat that the seller did not disclose the damage. If it was being sold as having rim damage then really that is on you.

    My Lincoln Registry
    My Collection of Old Holders

    Never a slave to one plastic brand will I ever be.
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    DeplorableDanDeplorableDan Posts: 2,537 ✭✭✭✭✭

    Can you enjoy it as is? Were the sellers listing pictures deceiving? Plenty of collectors are happy with details coins but it really all hinges on your personal preference. In my experience, If I'm asking on the forum about that something that bothers me on the coin, its best for me to let it go and move on.

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    TomBTomB Posts: 20,730 ✭✭✭✭✭

    It appears to me that you are already wondering what you can do to "improve" it or change it, so I would imagine you already have your answer as to whether or not to keep or return it.

    Thomas Bush Numismatics & Numismatic Photography

    In honor of the memory of Cpl. Michael E. Thompson

    image
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    MFeldMFeld Posts: 12,052 ✭✭✭✭✭

    Which, if any, of the posted pictures are the seller’s? If none of them are, can we see the ones upon which you made your decision to buy the coin?

    The damage looks quite conspicuous in the ones that you have posted.

    Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.

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    braddickbraddick Posts: 23,114 ✭✭✭✭✭

    I would keep it at that price.
    It appears to be a strong AU.
    Here is a PCGS "Genuine Only" XF that sold for over $900. on eBay:
    https://www.ebay.com/itm/155274541577?

    The price guide is high in your grade and this coin is strongly discounted for the damage.

    peacockcoins

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    EddiEddi Posts: 455 ✭✭✭✭✭

    I forgot to post the sellers pictures. Here they are:

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    MFeldMFeld Posts: 12,052 ✭✭✭✭✭

    @Eddi said:
    I forgot to post the sellers pictures. Here they are:

    Link to the listing or description of the coin?

    Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.

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    EddiEddi Posts: 455 ✭✭✭✭✭

    And, to be complete the description of the coin in the listing:

    USA, Half Dime 1838
    O, New Orleans
    No Stars obverse type
    K/M 61
    1,33 g

    Erhaltung/ Grading Terms:
    Randfehler, sehr schön +
    Edge nick, very fine +

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    MFeldMFeld Posts: 12,052 ✭✭✭✭✭

    @Eddi said:
    And, to be complete the description of the coin in the listing:

    USA, Half Dime 1838
    O, New Orleans
    No Stars obverse type
    K/M 61
    1,33 g

    Erhaltung/ Grading Terms:
    Randfehler, sehr schön +
    Edge nick, very fine +

    Thank you. Based on the pictures and description from the seller, the extent of the damage wasn’t disclosed/apparent. But you sure made me work hard to obtain the information from you.😉

    Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.

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    dhikewhitneydhikewhitney Posts: 362 ✭✭✭

    @telephoto1 said:
    I realize everyone has 20/20 hindsight and that threads like this tend to generate lots of shoulda/coulda comments...but after noticing what you refer to as the edge disturbance, that was the time to ask for better pics.As to keeping it, only you can answer that question. It's a nice looking coin with easy XF detail, more like AU... making it a solid 4-digit value coin if it were problem free. XF40 bid on a 38-O No Star Half Dime is $2140.00; AU50 is $3500. I'd keep it for $238 all day long because you should be able to slab it and flip it for a profit even in a details holder.

    It may even grow on you at that price (assuming it is genuine).

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    EddiEddi Posts: 455 ✭✭✭✭✭

    Thank you all for your comments. They are very much appreciated.
    I'll look at the coin again tomorrow with a fresh mind and in the 'cold light of a new day'.

    In retrospect I'll say this: I probably was naive to expect a high grade example of a scarce coin to be only minimally damaged for such a low price.

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    ShaunBC5ShaunBC5 Posts: 1,632 ✭✭✭✭✭

    Because of the cost, I’d keep it. Could you get one you like better for anywhere near the same money? It’s your collection, though, so send it back if you can’t enjoy it.

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    Cougar1978Cougar1978 Posts: 7,633 ✭✭✭✭✭

    Unless you really need it as a hole filler return it. Why keep a coin your unhappy with.

    So Cali Area - Coins & Currency
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    NickelMikeNickelMike Posts: 190 ✭✭✭

    Unless you are in love with it, that’s a return coin for me.

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    rheddenrhedden Posts: 6,619 ✭✭✭✭✭

    Put it on Ebay with clear photos and full disclosure of the damage, 99 cents, no reserve, auction ending on Sunday. I'd wager it should sell for more than your purchase price. I've always done surprisingly well with damaged key dates on Ebay because there is a population of people out there who don't want to spend a lot of money, but they want "details." They see this coin, they think "that would cost over $1000 without the damage." This type of collector is not consistent with the majority of collectors populating this forum, for whom it had better have a PCGS grade and a CAC sticker, or else it's a pass.

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    jesbrokenjesbroken Posts: 9,303 ✭✭✭✭✭

    If it bothers you that bad, let me have it for the equivalent of $238 and take your worries away.
    Jim


    When a man who is honestly mistaken hears the truth, he will either quit being mistaken or cease to be honest....Abraham Lincoln

    Patriotism is supporting your country all the time, and your government when it deserves it.....Mark Twain
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    MasonGMasonG Posts: 6,268 ✭✭✭✭✭

    @rhedden said:
    Put it on Ebay with clear photos and full disclosure of the damage, 99 cents, no reserve, auction ending on Sunday. I'd wager it should sell for more than your purchase price. I've always done surprisingly well with damaged key dates on Ebay because there is a population of people out there who don't want to spend a lot of money, but they want "details." They see this coin, they think "that would cost over $1000 without the damage." This type of collector is not consistent with the majority of collectors populating this forum, for whom it had better have a PCGS grade and a CAC sticker, or else it's a pass.

    This isn't a bad idea. I bought the coin below for $75, it sold on eBay for $350 fifteen years ago.

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    MasonGMasonG Posts: 6,268 ✭✭✭✭✭

    @MFeld said:
    In case you didn’t already know it, the price realized had nothing to do with the date. It was all about the multiple unique “errors” on each side. 😉

    Well, yes, there is that, too. :)

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    rheddenrhedden Posts: 6,619 ✭✭✭✭✭

    Honestly, where else would you get $350 for a severely corroded, non-authenticated 1909-S VDB?

    I recall selling an even more corroded 1839/6 large cent with G/VG details (on Ebay) that looked like it was found on a beach after milling around in the sand for 100 years. This was about 20 years ago. It went around $240 as I recalled. I had it figured at about $50 as a hole filler. I emailed the buyer and asked him if he actually wanted it for that price, and he didn't even ask for a discount. He just paid me and said he was OK with it. Just don't try the same thing with a common date; it won't work out in your favor.

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    MasonGMasonG Posts: 6,268 ✭✭✭✭✭

    @rhedden said:
    Honestly, where else would you get $350 for a severely corroded, non-authenticated 1909-S VDB?

    I don't know. That one was a little to gnarly for me, but there are people who are willing to live with the problems. Which is why I decided to buy it. And those collectors aren't going to be finding coins like that on Heritage or GC anytime soon.

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    lkeigwinlkeigwin Posts: 16,887 ✭✭✭✭✭

    Return it.
    Lance.

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    fathomfathom Posts: 1,513 ✭✭✭✭✭

    It's a very low entry for an historical piece with that much detail.

    I would slab it genuine, and resell or keep it, it won't spoil and it has exceptional detail.

    A good one is worth the search, but it will be expensive.

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    ChangeInHistoryChangeInHistory Posts: 3,008 ✭✭✭✭✭

    Slab/authenticate it, sell it when you're ready.

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    rickoricko Posts: 98,724 ✭✭✭✭✭

    @Eddi... Damage aside, that is a nice, and valued, coin.... Get it certified and slabbed, it will be damaged/details, but will likely sell for significantly more than your investment when you choose to let it go. Cheers, RickO

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    FrazFraz Posts: 1,854 ✭✭✭✭✭

    I like it. I had a three-legged dog. I loved him more.

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    1Bufffan1Bufffan Posts: 619 ✭✭✭

    With a mintage of only 70,000 pieces how often do you run into one of these? keep until you can upgrade or sell it for what you can and use that toward the "new" one if you can find one!

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    FrazFraz Posts: 1,854 ✭✭✭✭✭
    edited February 2, 2023 7:59AM

    I’ll give you a voucher if you will keep the coin. It will look better under plastic.

    Edit: added text

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