I don't understand

tradedollarnut

I don't understand the thinking of buying a coin that is an obvious mistake - despite what the insert says.

For instance, I was once offered a PCGS MS65 1874 trade dollar when I owned but an MS64. Now, for those of you that don't know trade dollars, the 1874 is really rare in gem. But this coin was charcoal black - with absolutely no life or eye appeal at all. Whether it looked that way when graded is irrelevant - it looked that way when I had to decide to buy it. I passed, even at 50% off. I'd have been embarassed to have it in my collection.

So, do please tell, what is the attraction to buying a coin that is an obvious mistake? Especially when undergrades with eye appeal are readily available.....

wondercoin

RE: THE 63 CENT

I did grade the coin higher than the PR66 you referred to, as did a number of other dealers I spoke with. But, putting that aside, there is another interesting possible twist on this coin. Many of the "problems" with this coin might well be vastly improved with a professional (and successful) conservation. You alluded to that possibility yourself I believe. What if the surfaces were to "come out" virtually flawless again with a professional conservation, such that the coin might actually be accepted as a "squeeker" PR70DCAM? That would surely be an interesting twist on this whole thing, would it not.

Also, never count out the conservation card - as most know, amazing things can happen once a coin is professionally conserved - both good and bad.

Wondercoin

tradedollarnut

As I stated in another thread, I can readily accept reasoning such as "I believe the coin will conserve nicely and then I've bought it on the cheap'. That's putting your money where your knowledge is and I respect it. I guess I could also respect the belief that one could resell the coin for more money, even as a mistake.

Any other lines of reasoning?

roadrunner

It makes no sense to purchase a PF70 coin with the intent to conserve it from the gitgo. At least it makes no sense to me.

roadrunner

wondercoin

RR: I agree with you. The only dynamic though that does play into this is PCGS' guarantee and PCGS' willingness to assist an honest collector who may have purchased a PR70DCAM "in good faith" believing it was perfect. Then again, the coin might be of interest to a competitor as well

Wondercoin