Slabbed Coins - Black Dots

FTWrath

I purchased a Lexington Commemorative MS63 recently and was able to flip it for a few bucks.
I am now looking to buy a 1934-D NGC MS66 FB Merc but this coin, just like the Lexington, has black spotting on areas of the coin.
The ask is $400 for a coin that is booked at $550.

You can tell in the image the dotting is on the right side.
Image:
http://www.cointalk.com/attachments/163614d1329962240-2012-02-21_14-23-06_349.jpg

I just have a few questions before I wind up with another one of these coins in my hands.
Does this lower the value?
What is the cause of the dotting?

Thanks in advance.

Meltdown

Eye appeal is everything to the collector.
For me, even if a coin is "undervalued" by today's standards I would not purchase it if it had a distracting black spot.
Especially for a coin that is readily available in the same grade without distraction.

MsMorrisine

you've got a collecting decision to make

do I want to collect coins with problems or without.


another one is:

if I can live with a problem coin, how much of a hit does the coin take for the problems it has? (because you shouldn't pay problem-free money for a problem coin)

FTWrath

Readily available it's not though. Only 30 graded in that grade, by NGC at least, and only 2 ever listed in eBay (viewing completed auctions).
I'm not interested in mercs so I was going to just flip it but with the dots I'm guessing there isn't much value there.
What's the cause for the specs though? Is it just nasty toning?

Meltdown

I could be a number of things. But likely either a result of a dip and less than thourough rinse or it is some other spec of contaminent that has since eroded and left a splotch. Similar to this morgan... near the L in PLURIBUS.

Justacommeman

There are countless "non problem", non qualifier coins out there that are fairly priced. Try to stick to those.



MJ

FTWrath

^
I know it wouldn't be smart to buy which is why I posted here. I was going to buy just for flipping and I posted here More to find 'why' the dots appear and what they are as I do not know. I was able to flip the Lexington for a profit but don't want to take the chance on the Merc as it's much more.
Meltdown, they are much smaller, appear like corrosion.
Here's the lexington. Merc is the same except with less.

Lexington

Sorry, have to include just links or it shows the entire full size image and stretches the pages.

Meltdown

That looks like original tarnish to me. But, the coin being as white as it is suggests that it has been dipped and that tarnish is the stubborn variety that did not come off.

Take into account, this is only my impression or opinion. Not necessarily everyones.

Kove

<< <i>That looks like original tarnish to me. But, the coin being as white as it is suggests that it has been dipped and that tarnish is the stubborn variety that did not come off.

Take into account, this is only my impression or opinion. Not necessarily everyones. >>




This was my first thought as well. A previously attempted dip that did not remove all of the toning.

MsMorrisine

basically this would sell to someone who doesn't know or care about problem coins.

the selling to the "doesn't know or doesn't care" crowd is not too popular on here unless you point out the problems up front.



I'd feel safer trying to flip problem free coins. If you're stuck with it for a while you at least know it will find a home eventually, even if it is your own.

CarlWohlforth

Completed eBay auctions are a much better indication of price/value than the red book. The red book is great for many things and I look at mine almost daily. However the prices are not useful.

Carbon spots are normally considered unattractive toning. The Lexington you linked to isn't terribly bad. Mercury dimes are common enough they should not display spots. Colorful toning is desirable as are untoned coins.

keyman64

Rule Number One: Never ever ever ever buy a "Problem Coin" or a coin that can possibly be view as a "Problem Coin" by a significant number of people. If you have to ask, the answer is normally NO, DON'T DO IT! Err on the side of caution.

All meant in good fun but maybe there is a ton of truth to it as well....
Also, remember that a lot of NGC Coins will not cross over to PCGS so this might be a PCGS MS65FB Coin...or maybe even just a PCGS MS65 coin. There is a ton of risk there.
PCGS Price Guide Says $675. There is are likely many reasons that this coin is not priced that way...it is not PCGS and ...it may not cross.

Good Luck!

MsMorrisine

although you'd have to look at completed auctions of coins with similar problems

FTWrath

Guys, I posted here to find out if this is a 'problem' not that I AM going to buy it.
thanks Meltdown for that info. Ill know to stay away from these now.