Mint-made flaws: affect value and liquidity, or not?

rhedden

Mint-made flaws in planchets or in striking are fairly common on 19th and late 18th century US Type coins. I am not talking about collectible "errors," but rather, the run-of-the-mill flaws such as heavy striations, minor laminations, adjustment marks, struck-through-grease, poorly mixed alloy, and voids. PCGS holders these coins usually without net-grading. Dealers also don't like to discount coins for mint-made defects, especially if they're sitting in a PCGS or NGC slab. How do you feel about it as a collector though? Do you pass on coin with a planchet flaw just because of its effect on eye appeal? I frequently do, and I value such coins based on eye appeal, meaning they should be discounted to some extent or other.

Below is a desirable 1851 quarter in PCGS AU58 that I recently made. It has a heavily striated planchet. The striations are so deep on the reverse that a couple of them look like pinscratches under a glass, but they're left over from the surface of the original planchet. The line passing through Liberty's neck, amazingly, is also not a scratch, but a deep groove that survived the striking of the coin. It may not matter with a semi-key coin in a desirable grade, but I'd pass on this coin in 2 seconds if it were a common date like 1858-P. Thus, I think my own answer to the question posed is that mint-made flaws are a minor detraction on a truly rare coin, but they're a death sentence on a common Type coin. Thoughts?

Cam40

To me, all the little flaws in coining are just the nature of the beast.
If flawless looking coins are your thing, Proof coins may be more to your liking.
I like all that strange stuff on business strikes. But, we all like different things I guess.

AUandAG

Sure they can affect the value and liquidity. Most error coins are not sought after by the millions of minions
like me. Pass is what I would do. So, the value has dropped.
However, to the collector of such "errors" or defects or whatever, it could command a premium. Probably not
a substantial one in this case, though.
The number of collectors that subscribe to these would be small and that may affect the liquidity in a big way.
bob

lkeigwin

<< <i>Thus, I think my own answer to the question posed is that mint-made flaws are a minor detraction on a truly rare coin, but they're a death sentence on a common Type coin. >>

I agree. I avoid them, generally. But it wouldn't stop my from buying a true rarity.
Lance.

NumisOxide

I think it all depends on the whole look of the coin but if it is on a common date then yes. I feel laminations are the worst kind though, kills the eye appeal to me.