Are all hairlines not considered equal (in other words, does it depend on the rarity of the coin)?
Longacre
Posts: 16,717 ✭✭✭
I was reading through the Ask Frank section of the Stack's website. In the recent edition, he discusses hairlines. It is an interesting column that I wanted to share. Does everyone here think that certain hairlines are not created equal, and it depends on the rarity of the coin? It seems to make sense to me, but what do you think?
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Dear Frank:
I continue to enjoy your comments and the other news and information on the Stack's website. My question is about hairlines: what causes them, and are they normal or a result of improper handling? Initially, when looking at coin descriptions in catalogues and auction listings, I had the sense they were considered a negative. But lately I'm not so sure because some cataloguers don't seem to present hairlines in a negative sense. Could you elaborate? Thanks for the information.
Sincerely,
TA, Iowa
Dear TA:
Thanks for writing, and thanks for the nice comments about Stack’s, we all appreciate your friendship! Hairlines fall into many categories—nothing is ever simple in numismatics it seems—and I will outline some here. The first variety is typically found on Uncirculated or Proof coins, new coins that have been lightly mishandled over the years or perhaps lightly wiped in a well-meaning way a long time ago when such practices were commonplace. These appear as faint scuffs or long thin lines actually etched into the surface, thinner than human hair and thus the nickname. You must be careful however, as some “hairlines” may actually be raised lines from faint scratches in the die that were caused by polishing; when the planchet is pressed between the polished dies the sunken die scratches become raised lines as the metal of the planchet is forced into the die scratches. Hair lines and die lines are two different things and it is handy to be able to tell the difference.
Many lightly circulated coins have hair lines as well, though these are not usually caused by cleaning but by what I have taken to calling “pocket change hairlines” in my catalogue descriptions to differentiate between surface hairlines that were caused by circulation and not cleaning. As with everything numismatic, the importance of hairlines is a matter of personal opinion. On a 1796 No Pole half cent rarity, hairlines would play a very minimal part in a serious collector’s bidding strategy, while on a commonplace 19th century Proof Liberty Seated half dollar for instance, hairlines would play an important part in any purchase decision.
Just remember, a certain amount of hairlines is acceptable in today’s grading climate, and even a gem Proof-65 or MS-65 coin may have a few hairlines present. It pays to look past the hairlines on occasion, especially if you are in pursuit of a very rare issue. As a rule, I prefer coins without serious hairlines, though a coin with a few light hairlines that only become apparent under careful scrutiny usually passes the muster with me. As for the cataloguers here at Stack’s, we all have our own distinctive styles, though most of us will mention hairlines if they “jump right out” the first time we see the coin—after all, they will probably “jump right out” at the buyer as well.
Best regards,
Frank
***********
Dear Frank:
I continue to enjoy your comments and the other news and information on the Stack's website. My question is about hairlines: what causes them, and are they normal or a result of improper handling? Initially, when looking at coin descriptions in catalogues and auction listings, I had the sense they were considered a negative. But lately I'm not so sure because some cataloguers don't seem to present hairlines in a negative sense. Could you elaborate? Thanks for the information.
Sincerely,
TA, Iowa
Dear TA:
Thanks for writing, and thanks for the nice comments about Stack’s, we all appreciate your friendship! Hairlines fall into many categories—nothing is ever simple in numismatics it seems—and I will outline some here. The first variety is typically found on Uncirculated or Proof coins, new coins that have been lightly mishandled over the years or perhaps lightly wiped in a well-meaning way a long time ago when such practices were commonplace. These appear as faint scuffs or long thin lines actually etched into the surface, thinner than human hair and thus the nickname. You must be careful however, as some “hairlines” may actually be raised lines from faint scratches in the die that were caused by polishing; when the planchet is pressed between the polished dies the sunken die scratches become raised lines as the metal of the planchet is forced into the die scratches. Hair lines and die lines are two different things and it is handy to be able to tell the difference.
Many lightly circulated coins have hair lines as well, though these are not usually caused by cleaning but by what I have taken to calling “pocket change hairlines” in my catalogue descriptions to differentiate between surface hairlines that were caused by circulation and not cleaning. As with everything numismatic, the importance of hairlines is a matter of personal opinion. On a 1796 No Pole half cent rarity, hairlines would play a very minimal part in a serious collector’s bidding strategy, while on a commonplace 19th century Proof Liberty Seated half dollar for instance, hairlines would play an important part in any purchase decision.
Just remember, a certain amount of hairlines is acceptable in today’s grading climate, and even a gem Proof-65 or MS-65 coin may have a few hairlines present. It pays to look past the hairlines on occasion, especially if you are in pursuit of a very rare issue. As a rule, I prefer coins without serious hairlines, though a coin with a few light hairlines that only become apparent under careful scrutiny usually passes the muster with me. As for the cataloguers here at Stack’s, we all have our own distinctive styles, though most of us will mention hairlines if they “jump right out” the first time we see the coin—after all, they will probably “jump right out” at the buyer as well.
Best regards,
Frank
Always took candy from strangers
Didn't wanna get me no trade
Never want to be like papa
Working for the boss every night and day
--"Happy", by the Rolling Stones (1972)
Didn't wanna get me no trade
Never want to be like papa
Working for the boss every night and day
--"Happy", by the Rolling Stones (1972)
0
Comments
Actually, I think Frank was saying that -- for some coins (like the high grade 1796 half cent he mentioned), the opportunity to buy such a coin is so infrequent, that a serious collector will often overlook some distracting hairlines when he/she decides to add it to their collection.
With a proof seated dollar, they are available enough that if you want (and can afford) one with few or no distracting hairlines, you can find one with very little searching.
The rarity of the coin should never affect the grade of a coin.
Coin Rarities Online
Here's one that has hairlines, downgrading it to a PF61:
==Looking for pre WW2 Commems in PCGS Rattler holders, 1851-O Three Cent Silvers in all grades
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An authorized PCGS dealer, and a contributor to the Red Book.
Thanks, TDN.
<< <i>Hairlines? What hairlines?
Coin Rarities Online
<< <i>When buying they are "Pocket change hairlines." When selling they are from harsh cleaning.
YOU SAID IT!!
I agree with the statement about some "hairlines" are actually die polish lines and not hairlines at all. For a common coin in higher grades, hairlines play a bigger role than on a scare or rare coin, but still detract from its appearance.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
<< <i>The rarity of the coin should never affect the grade of a coin. >>
It shouldn't, but it probably does.
In any case, I would be pretty forgiving of hairlines on a very rare coin...in fact, the more rare and sexy the coin is, the more forgiving I am about its faults in general. As Dave indicated, it's all about how easily or frequently you'd get the opportunity to add a particular coin to your collection.
<< <i>In the 1870-1900 period the Philadelphia mint often had proofs of past years for sale, but were stored loose in a drawer and were wiped with a cloth every few months to keep them shiny. >>
It's still post mint damage even if the coins were wiped by the Director of the Mint, Charles Barber, or George Morgan.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
<< <i>If a Kennedy proof had 1/10 the hairlines shown on that 1885 Trade Dollar, it would be body bagged for cleaning. >>
Are you saying that because a heavily hairlined Kennedy half is a piece of junk not worth grading, the same applies to the 1885 Trade dollar?
CG
Lafayette Grading Set
<< <i>
<< <i>If a Kennedy proof had 1/10 the hairlines shown on that 1885 Trade Dollar, it would be body bagged for cleaning. >>
Are you saying that because a heavily hairlined Kennedy half is a piece of junk not worth grading, the same applies to the 1885 Trade dollar? >>
Are you saying that a coins grade should be influenced by its value?
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
<< <i>
<< <i>
<< <i>If a Kennedy proof had 1/10 the hairlines shown on that 1885 Trade Dollar, it would be body bagged for cleaning. >>
Are you saying that because a heavily hairlined Kennedy half is a piece of junk not worth grading, the same applies to the 1885 Trade dollar? >>
Are you saying that a coins grade should be influenced by its value? >>
Yes, somewhat. The ultra rarities are often ranked more than graded. Certainly the TPGs would look the other way and bend over backwards to put them into a holder [see this 1885]. And also upgrade them many times over the years to keep them in their holder [see King of Siam set].
<< <i>Are you saying that a coins grade should be influenced by its value? >>
When you dealing in a numismatic properrty like an 1885 Trade dollar there is a need for the collecting world to understand the grade of each known specimen in the census.
A proof Kennedy half, in contrast, may be a popular collector coin but it is not worth the cost of slabbing even at the PR 66 level. When its hairlined like the 1885 it goes from being a popluar collector coin to being a piece of junk. PCGS slabs numismatic properties and collector coins but it does not slab junk.
CG
<< <i>Yes, somewhat. The ultra rarities are often ranked more than graded. Certainly the TPGs would look the other way and bend over backwards to put them into a holder [see this 1885]. And also upgrade them many times over the years to keep them in their holder [see King of Siam set].
Exactly. Rembember kids, coins aren't graded based on actual condition, they're priced based on the submitter.
PCGS, ANACS, & NGC Certified Coins on My Website.
<< <i>
Are you saying that a coins grade should be influenced by its value? >>
Yes. That's the concept of "market grading" vs technical grading.
"You pick up a Saint-Gaudens and in your mind it's worth $1,000, you grade it 65. Whether it's popular or not, we really grade according to what we think the coins are worth"
NGC founder John Albanese to Scott Travers, "How to make Money in Coins Right Now"