A 1928 Peace Dollar that looks great, but isn't

rhedden · January 31, 2015 3:09AM

I purchased this 1928 Peace Dollar raw for probably XF money about 5 years ago. Looks great, doesn't it? The coin has just a couple of nearly invisible, wispy hairlines across the neck that are only visible when the coin is tilted just so. I picture someone carelessly sliding the coin out of a paper envelope years ago, and just putting a couple of hairlines on it. Don't bother looking for them in the photo; they're not there.

I have a few of thoughts about this coin. 1) Would you send it to PCGS and get it in an MS62 holder? 2) If you wee to sell it, could you resist the temptation to list it raw on eBay with the description "GEM 1928 Peace Dollar- U Grade It!" 3) How do you feel about buying raw coins off eBay, even with good photos, after seeing something like this?

Coin has been in my junk box for 5 years, where it shall remain.

rhedden · January 31, 2015 3:11AM

Just in case the blown up photos are too big on your monitor...

planetsteve · January 31, 2015 3:18AM

Since you presented it this way, I find it remarkable that it's fine to have those contact marks, but some nearly invisible hairlines make it a "problem coin."

I'm not criticizing your analysis, just commenting on coin collecting culture. I get that we all hate improperly cleaned coins, but is there a threshold below which hairlines are not a problem?

rhedden · January 31, 2015 3:27AM

<< Since you presented it this way, I find it remarkable that it's fine to have those contact marks, but some nearly invisible hairlines make it a "problem coin."

I'm not criticizing your analysis, just commenting on coin collecting culture. I get that we all hate improperly cleaned coins, but is there a threshold below which hairlines are not a problem? >>

I totally know what you're talking about. Coin could have a hole drilled through it, as long as it was done at the mint, and it's still MS60. But this coin might actually bag, rather than getting the MS62 I'd expect. What a strange bunch numismatists are.

BryceM · January 31, 2015 3:28AM

Are you sure it isn't great? Looks pretty nice to me. A couple of wispy hairlines do not necessarily = "isn't nice". If we were playing "GTG" I might guess MS64 on this one.

Short answer - get it graded. Worse case is that you crack it back out & sell it raw.

As a buyer, even at MS62 I'd be more comfortable buying slabbed than raw.

For what it's worth, this coin lives in a PCGS MS64+ holder with a green sticker. These are most certainly hairlines, incuse under a loupe, extending over fields & devices in a single direction. I photographed it with the light positioned "just so" with the slab tilted "just so". I'm not saying I agree with the grade, just that yours might do better than you think:

tahoe98 · January 31, 2015 3:33AM

...did you say wispy?

epcjimi1 · January 31, 2015 3:42AM

<< I purchased this 1928 Peace Dollar raw for probably XF money about 5 years ago. Looks great, doesn't it? The coin has just a couple of nearly invisible, wispy hairlines across the neck that are only visible when the coin is tilted just so. I picture someone carelessly sliding the coin out of a paper envelope years ago, and just putting a couple of hairlines on it. Don't bother looking for them in the photo; they're not there.

I have a few of thoughts about this coin. 1) Would you send it to PCGS and get it in an MS62 holder? 2) If you wee to sell it, could you resist the temptation to list it raw on eBay with the description "GEM 1928 Peace Dollar- U Grade It!" 3) How do you feel about buying raw coins off eBay, even with good photos, after seeing something like this?

Coin has been in my junk box for 5 years, where it shall remain. >>

1) I'd send it in for grading, I've seen worse Peace dollars in 63 - 64 holders.
2) I could resist the temptation. I am currently selling on ebay. Selling a "U Grade It" coin could go either way for customer complaint or satisfaction, the risk of a downside is greater than the chance of an upside, MHO.
3) I don't buy raw coins off ebay.

rhedden · January 31, 2015 3:48AM

I had to quit selling on eBay a few years ago because I was too honest and I have a decent idea of how to grade.

lcoopie · January 31, 2015 4:29AM

Since you're tjinking of selling, how about sending it to great collections where you will get some expert advice and they can send it in for grading for you and then sell it.

Wolf359 · January 31, 2015 5:16AM

A random single patch of hairlines will be treated like a bagmark at PCGS.

winky · January 31, 2015 5:21AM

I do not buy on ebay. Had too many problems.

ebaybuyer · January 31, 2015 5:27AM

selling on ebay is no longer worth the risk now that paypal has written the handbook "how to get your money back and keep the item too", must be part of the new initiative to "redistribute" wealth.

epcjimi1 · January 31, 2015 5:52AM

<< A random single patch of hairlines will be treated like a bagmark at PCGS. >>

Yep, that's what I learned from the OP in a brief PM exchange. Hairlines = nono @ PCGS.

jmski52 · January 31, 2015 6:00AM

That's a large image, and it kinda depends on what the coin looks like at 5X. There's nothing wrong with honesty, and when I sell a coin I try for accurate descriptions especially if I see a flaw. Better to set expectations lower than higher.

That coin looks pretty good. A light few hairlines might knock it down a bit, but that might not matter so much if the coin fits with someone's collection, both quality-wise and financially.

puffer · January 31, 2015 6:01AM

A dealer had a 1928 $1 in his case raw for quite a while as MS64, I didn't believe it would grade at that level. But next time I saw it shazam! it was in a 64 PCGS holder, and I could see why. They see lots of these every day and know what they should grade.

luckybucks · January 31, 2015 7:52AM

AS long as the hairlines aren't distracting, I don't see what the problem is.

That looks like a very nice Peace Dollar.

roadrunner · January 31, 2015 7:56AM

Looks 63ish to me. The luster is a tad weak so the photos don't present it as a near gem imo.

TwoSides2aCoin · January 31, 2015 8:12AM

<< I had to quit selling on eBay a few years ago because I was too honest and I have a decent idea of how to grade.

>>

Never heard of "too honest" for ebay. Helping others achieve their goals can only be done through honest dealings.

halfhunter · January 31, 2015 8:16AM

Looking at that photo . . . I'd like to have your junk box ! ! !

HH

rhedden · January 31, 2015 8:31AM

Helping others achieve their goals can only be done through honest dealings.

True, but a good portion of the coin sellers on eBay are not on there because they're trying to help anyone achieve a goal.

Anyone else feel like if a seller mentions a patch of hairlines, the prospective bidders hit the "back" button? "Why would he even mention it unless the coin was harshly cleaned!?" I've seen that statement made on this very forum.

AMRC · January 31, 2015 8:39AM

No brainer, grade it. And then you can point out the hairlines to any potential buyers should you ever decide to sell. Coins like that in a junk box under serve the coins and the collecting community on the whole.

rhedden · January 31, 2015 9:06AM

"Junk box" was more of a tongue-in cheek remark. My definition of "junk" is "Not a series I'm trying to complete."

roadrunner · January 31, 2015 9:17AM

<< 

<< I had to quit selling on eBay a few years ago because I was too honest and I have a decent idea of how to grade.

>>

Never heard of "too honest" for ebay. Helping others achieve their goals can only be done through honest dealings. >>

You can be too honest. It doesn't typically lead to great wealth in either the coin industry or as a used car dealer. One time a BST buyer asked me what were the flaws on my PCGS VG10 ogh 1795 half. And quite frankly, I came up with over 50 "flaws" that I felt were worth mentioning....for complete honesty. Still, it was a borderline Fine coin overall. The buyer completely backed away after receiving that "hit list." The next coin show I attended I sold it for even more money to a national dealer. I'd rather be brutally honest to a flaw, then leave a single stone unturned that results in a return as well as tying up money. I couldn't possibly sell competitively on Ebay when most other sellers don't even mention significant flaws.

rhedden · January 31, 2015 9:31AM

I couldn't possibly sell competitively on Ebay when most other sellers don't even mention significant flaws.

+1

TwoSides2aCoin · January 31, 2015 9:35AM

<< … 1) Would you send it to PCGS and get it in an MS62 holder? 2) If you wee to sell it, could you resist the temptation to list it raw on eBay with the description "GEM 1928 Peace Dollar- U Grade It!" 3) How do you feel about buying raw coins off eBay, even with good photos, after seeing something like this?

Coin has been in my junk box for 5 years, where it shall remain. >>

If it's damaged, no… I wouldn't get it into an MS 62 holder.
If I were to sell it, the problems would be evident or disclosed with a guarantee that if not satisfied I would buy it back. Even on EBAY
And no, I would not list it on ebay as a GEM/ U grade it item. I may say "see photos for details" and I would try to show the details.
I feel good about buying raw coins on ebay, even if they're not the best photos even after seeing something like what you have in your junk box.

One man's junk is another man's jewel and every coin stands on it's own merit, as does every person. The market lives on.

A 1928 Peace Dollar that looks great, but isn't

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