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The "Cleaner" who lost his shirt.........
keets
Posts: 25,351 ✭✭✭✭✭
Last week was a rather busy one at the local shop, some good and some bad. I'd like to relate what I observed regarding one collection that passed through the door.
Apparently it came time for a gentleman to liquidate. What I was told is that he needed money to help pay for his son's wedding, an honorable reason to cash in and one I'm sure at least a few members can relate to. The collection was quite large and diverse with most modern series collected in folders by date and many of the more popular classics like Morgans, Mercs and IHC's done likewise. There was also a nice assortment of type which ran the gamut of all U.S. issues so evidentally this collector had been at it for a while.
Sadly, he seemed to have a penchant for coins graded VF-XF and a large volume of the whole had been cleaned!! I knew this collection was gonna be in the shop so I was a little pumped to be there early on to pick through it, cherrypickin' at it's best!!
My heart sank when I opened up the first book, a complete set of Indian Cents, all cleaned. The owner shot me that look with a mixture of sadness and disappointment and we discussed it for a bit as I looked over the stuff.
Here's the peculiar twist. This collector had most of the older series' in Intercept Shield folders and the moderns were in 2X2's kept in pages in binders that were actually the highlight of the collection!! I mean, he took the time to decorate both sides of the binders with articles and designs relevant to the "Dead President" depicted on the series, and did a fine job of it. Paradoxically, he chose to shoot himself in the foot by cleaning the stuff rather noticebly.
The bottom line was a return on his collection of about 60 cents on the dollar at a time when prices are high and he should have at least broke even. To say he Lost His Shirt is to me a bit generous. He insisted on retaining the Intercept Folders so I helped take some of the coins out and put them in flips or boxes for 2X2'ing later on. Maybe that means he wasn't so discouraged with the whole experience that he'll leave the hobby. Hopefully, he'll chuck the cleaning supplies!!!
This rotated 2-center was in the type stuff, all shiny-ed, a lone survivor of a sad day in local Numismatics!!
Al H.
Apparently it came time for a gentleman to liquidate. What I was told is that he needed money to help pay for his son's wedding, an honorable reason to cash in and one I'm sure at least a few members can relate to. The collection was quite large and diverse with most modern series collected in folders by date and many of the more popular classics like Morgans, Mercs and IHC's done likewise. There was also a nice assortment of type which ran the gamut of all U.S. issues so evidentally this collector had been at it for a while.
Sadly, he seemed to have a penchant for coins graded VF-XF and a large volume of the whole had been cleaned!! I knew this collection was gonna be in the shop so I was a little pumped to be there early on to pick through it, cherrypickin' at it's best!!
My heart sank when I opened up the first book, a complete set of Indian Cents, all cleaned. The owner shot me that look with a mixture of sadness and disappointment and we discussed it for a bit as I looked over the stuff.Here's the peculiar twist. This collector had most of the older series' in Intercept Shield folders and the moderns were in 2X2's kept in pages in binders that were actually the highlight of the collection!! I mean, he took the time to decorate both sides of the binders with articles and designs relevant to the "Dead President" depicted on the series, and did a fine job of it. Paradoxically, he chose to shoot himself in the foot by cleaning the stuff rather noticebly.
The bottom line was a return on his collection of about 60 cents on the dollar at a time when prices are high and he should have at least broke even. To say he Lost His Shirt is to me a bit generous. He insisted on retaining the Intercept Folders so I helped take some of the coins out and put them in flips or boxes for 2X2'ing later on. Maybe that means he wasn't so discouraged with the whole experience that he'll leave the hobby. Hopefully, he'll chuck the cleaning supplies!!!
This rotated 2-center was in the type stuff, all shiny-ed, a lone survivor of a sad day in local Numismatics!!
Al H.
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Comments
New collectors, please educate yourself before spending money on coins; there are people who believe that using numismatic knowledge to rip the naïve is what this hobby is all about.
K S
that's a good question and probably part of the reason why i don't envy dealers their chosen trade. geez, i get nervous when someone approaches me with a handful of coins at a club meeting looking for an opinion and a buy price. you know, my reputation and all!!
Rich does well and he's honest and up front. i'm sure he said at least something to the guy in passing since i've been present when he's had walk-ins. i'm rather curious who the collector was but i'm smart enough to know never to ask.
BTW, i managed to snag the 1921-S c'stamped Morgan the other day!!
hey Eric, in answer to your copper-question, unfortunately most of it did, the older stuff at least. there's nothing worse than a shiny-red-looking VF indian head cent. strangely though, there were several very dark brown ones. i think he may have tried to clean some like that and got poor results so he quit.
to the issue of cleaning, i always say something at club auctions about it and if i go to grading committee, i do likewise.
al h.
I dipped in silver cleaner..then retoned it in olive oil.
looks nice now.
Go BIG or GO HOME. ©Bill
Maybe this being a hard time for him, but it would make for a good question session with him on the why's and wherefores! Sad at first, but provacative in knowledge to be learned and passed on to everyone in early stages of collecting.
NEVER LET HIPPO MOUTH OVERLOAD HUMMINGBIRD BUTT!!!
WORK HARDER!!!!
Millions on WELFARE depend on you!
one thing i've learned in my time since i returned to the hobby in 1999 and with my forum involvement is that there is a great lack of knowledge and sophistication in the majority of the collecting community. my experience has been that collectors were shut off from each other until the late 80's and with the internet and other changes, we've been able to become more informed about the different market forces------rights and wrongs, so to speak.
if you were to compare my collection from 1964-1980 with what it currently looks like, the differences would be stark. my hunch is that the "cleaner" assembled his collection over the past 30 years without being involved with other collectors or keeping pace with changing trends in the hobby. some of what i see locally with old-timers is shocking. not that i'm being critical, but times and markets change. what may have been acceptable 10, 20 or 30 years ago, isn't anymore. as knowledge is disseminated and made available to more collectors, i think incidents like the one i described will start to be less common. we are already seeing discussion here about the pros and cons of dipping and AT.
al h.