Super rare issues and net grades opinions and discussion please!

PutTogether

Picture an easy to bend coin.............three cent silver, or half dime. Now picture this coin is a gorgeous detailed (AU50-58) coin with even some luster left. But it had a slight bend to it.

1 What would ANACS net grade it? (if they would at all)

2 What would YOU net grade it?

3 What money would you pay for it (ie, EF, VF, F, etc.)

4 What if it were a very rare key date?

(you have to suspend disbelief a little bit, if you are the kind that would NEVER consider purchasing a "problem" coin, pretend just for a second that it was a coin you would otherwise really like to have but could never afford.


and finally...........would you rather have an AU+ or MS coin super rare coin with a tiny bend to it.........or an AG3 specimen?

I know its a lot of questions, but could spark some great discussion.

291fifth

To me a bent coin should be discounted heavily. I would probably knock it down at least three full grades.

I had to face the issue of what is acceptable recently when purchasing a F-12 1793 Wreath Cent. The coin, at first glance looks original. Unfortunately, it is not. The coin was cleaned at one time, probably very long ago, and has now retoned. The obverse has 100% retoned and the reverse over 90% retoned. The coin is well struck and has a bold "LIBERTY" and "1793". I had never previously owned any 1793 cent and when this one showed up in my local dealer's shop I initially passed on it because of the retoning. I know another large cent specialist had looked at the coin and was interested...but also didn't like the fact that it had been retoned. After a couple of weeks I went back to the dealer and asked his best price (it had been marked "firm"). The dealer cut 10% off the price, which had already been discounted because of the retoning, and I bought it. I'm glad I did. The coin is not at all bad looking. I said I didn't want a "problem" coin, but when it came down to being able to purchase a 1793 this coin was within my budget because of the retoning discount. If this coin had been bent, corroded, or badly scratched I would not have been interested. The retoning, however, was not a serious enough defect to keep me from buying it when the price was right.

Never say never.

PutTogether

anyone else? hmmm........so much for sparking discussion. maybe if i complained about ebay fees......

ealandg

I have had the experience of buying a problem coin and being unhappy with it. I really wanted a 1795 flowing hair half. I was able to get a VG example that had a large scratch. Initially I was so happy to get one, the scratch was the last thing on my mind, but over time it wore on me... I ended up selling it, one of the few I have actually parted with. That scratch became the first thing my eye went to.

On the other hand, there are coins that I couldn't hope to afford unless they were damaged, cleaned, etc. I would buy a very rare coin in damaged condition, particularly if it made it more affordable than even a low end coin.

I think it depends on the coin and the nature of the damage.

I don't tend to hold an old dip against an early coin if it has retoned nicely.

coinkat

ANACS would net grade the coin and a discount of three grades that was already suggested is the mostlikely senario. If it truly is a rare date, authentication is not a bad idea. Unfortunately problem coins are a tough sell so if the MO is to make a quick buck, I would reconsider.

PutTogether

It's a hypothetical situation

Baley

I would discount a problem coin in proportion to the severity of the problem.. in the case you describe, if the bend was very slight so as to be almost undetectable, then maybe a whole grade or two, if the bend was more severe and obvious, then maybe more like 3 or 4 grades, meaning the AU might be a net Fine or even VG. Rare or common should not affect the grade, but will affect the desireablility of the piece, meaning that people are more forgiving with rare dates. I would much rather have an au coin with a slight bend than an AG coin, but I would probably rather have a problem-free VF than either, it just depends on the specific coins. I have some problem coins because they are rare in ANY condition and I didn't mind the problems because i would rather, in some cases, have lots of detail and some rim bumps, scratches, cleanings, etc, instead of lots and lots of wear.

oreville

Keep in mind that a coin with a slight bend might not even be noticed in a slabbed holder.

haletj

On this topic... my 09-s vdb is a "problem coin". The coin looks or would be a very solid ms66 without the problem, but under magnification on the obverse there are some parallel hairlines, like the coin was wiped accross once with something. It is in a Segs ms64rd holder. I paid a discount off the ms64 price, for a coin that looks as nice as an ms66! I love the coin (which is most important) and plan to keep it in my set long term, but if I did want to sell it hypothetically, I guess it'd be best to cross to anacs, but how would they grade it (they wouldn't say ms66 detail net __ would they)? Do you think a discount off the ms64 price was too much, right, a bargain, or a steal? (One dealer helped me to verify its authenticity and his opinion was the price was fair.).

BurritoGrande

My personal experience is that on a problem coin, the problem is the first thing I see on the coin. Always. And I don't want I coin that I don't enjoy looking at for any reason. For this reason I wouldn't buy a rare problem coin that I couldn't otherwise afford. I also wouldn't buy a low grade rare date either. I only want coins that I find nice to look at.

Rittenhouse

<< <i>Picture an easy to bend coin.............three cent silver, or half dime. Now picture this coin is a gorgeous detailed (AU50-58) coin with even some luster left. But it had a slight bend to it. >>



Well, hypothetically speaking of course, I would flatten the coin, slab it, get the AU and sell it. That's just hypothetically speaking of course. Not that I've ever heard of anyone doing that or know how it can be done .