How to Turn A $5,000+ Coin Into A $1 Coin
gmarguli
Posts: 2,225 ✭✭
This is a true story. 
I recently came into possession of a set of Kennedys. One coin caught my eye. An early date clad. The coin is stunning. This coin jumped out from the Kennedy set album and screamed GEM. The rest of the set was average in quality, but not this coin.
I couldn't wait to get the coin out of the album and examine it closer. It appeared to be extremely mark free. My heart was beating fast.
This set/coin was housed in one of those albums with the plastic strips on each side which slides out and you put the coins in and then slide the plastic back. Dansco?
I carefully took the coin out and the mark free surfaces struck me. STUNNING. A solid MS68. Easily half a point better than the 71-D in 68 I made. This coin was stunning. I grabbed the light and pulled it over to look at this gem more closely. My heart sank.
There are slide marks on the highest part of the obverse where the plastic strip from the album slide against the coin. This coin which I have ZERO doubt would have made MS68 at PCGS will now be lucky to make MS65. This would have been a pop 1 coin and I have no doubt a $5,000+ coin. Now this coin will never be housed in the finest set. This coin will never amaze the graders. This wonder coin will never be. This $5,000+ coin is now a $1 coin.
Who killed this coin? I can only guess it was the previous owner. Someone who didn't know anything about grading modern coins. AU, BU, what's the difference. Someone who had no idea what he or she had. Someone who "protected" their coins by putting them in an album.
Why am I telling this sad story? Perhaps someone here with think twice or take more care before putting their coins in one of these albums. That "common" coin in your set might just be worth a few more dollars than you think. I'm not out any money since this coin was damaged. Neither was the previous owner. The only "loss" here was a gem to the collecting community.
I recently came into possession of a set of Kennedys. One coin caught my eye. An early date clad. The coin is stunning. This coin jumped out from the Kennedy set album and screamed GEM. The rest of the set was average in quality, but not this coin.
I couldn't wait to get the coin out of the album and examine it closer. It appeared to be extremely mark free. My heart was beating fast.
This set/coin was housed in one of those albums with the plastic strips on each side which slides out and you put the coins in and then slide the plastic back. Dansco?
I carefully took the coin out and the mark free surfaces struck me. STUNNING. A solid MS68. Easily half a point better than the 71-D in 68 I made. This coin was stunning. I grabbed the light and pulled it over to look at this gem more closely. My heart sank.
There are slide marks on the highest part of the obverse where the plastic strip from the album slide against the coin. This coin which I have ZERO doubt would have made MS68 at PCGS will now be lucky to make MS65. This would have been a pop 1 coin and I have no doubt a $5,000+ coin. Now this coin will never be housed in the finest set. This coin will never amaze the graders. This wonder coin will never be. This $5,000+ coin is now a $1 coin.
Who killed this coin? I can only guess it was the previous owner. Someone who didn't know anything about grading modern coins. AU, BU, what's the difference. Someone who had no idea what he or she had. Someone who "protected" their coins by putting them in an album.
Why am I telling this sad story? Perhaps someone here with think twice or take more care before putting their coins in one of these albums. That "common" coin in your set might just be worth a few more dollars than you think. I'm not out any money since this coin was damaged. Neither was the previous owner. The only "loss" here was a gem to the collecting community.
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Comments
I'd probably submit it anyway (as a toss in with your next grouping of coins) even if it does just go MS65- it has a story to tell.
peacockcoins
I suppose there are issues with almost every type of holder/display; you just have to take the appropriate precautions.
Altho I'm new to the world of coin collecting, I've been collecting books ( Signed,first editions) for years and it brings tears to my eyes when I see someone "Dog-ear" a page or bend the spine backwards to mark their place or many other abuses that the books don't deserve.
Master Collector
I SEE YOU LORD MARCOVAN. YESTERDAY YOU NUKED KINGCOINS KINGDOM DECIMATING HIM INTO A ROACH.
I HAVE DIVERTED AN ASTEROID AND IT IS HEADED YOUR WAY. ONLY I KNOW WHEN IT WILL OBLITERATE YOU AND YOUR KINGDOM.
KINGCOIN KING OF COINS
You need to stop playing with those cherry bombs
<< <i>Wow! That's terrible! Exactly why I use a whitman folder for my Kennedys, that way I just puch them in with my thumb, and voila No Slide marks!
I hope newbies realize this isn't a serious post. Please don't do this.
Thanks for explaining what NOT to use to store coins not deemed "slab-worthy" long-term. What should be used for storing coins instead??