Raw "rare" coin valuations
logger7
Posts: 8,901 ✭✭✭✭✭
I was looking through a dealer's box of raw coins, how would you value coins like this?
1864 2c piece, borderline Unc. 180 degree rotation.
1803 Bust 10c with Fine or better detail with hits of damage
1799 1c, 1799/8 and other poor to good--- or corroded large cents?
Buying raw coins that are hard to value, is there any guideline?
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If they are somewhat rare, but raw, and being sold by a dealer, they are raw for a reason....
1864...no premium for the rotation
1803..if not bad and has reasonable eye appeal VG money
1799's...I haven't kept up but probably in the $1500-2000 range!
If you're sure they're real, detail grade and then take more points for post_mint flaws according to severity. Peanalize very heavily for ugly coins, less so if it looks nice enough from arm's length ( or elbows, a foot or so))
For common coins, be very conservative, for coins tough in any grade like the dime, depends how bad you want one. I paid 900 for a 1803 half dime as a type coin, rare in any grade, has hints of damage, slight bend but decent surfaces otherwise. Avoid "bright" early coins,
Liberty: Parent of Science & Industry
I would be even more conservative on the 1803 and would just go slightly better than G money especially if the digs are mostly on the obverse.
There's no guideline but if you've been doing this a long time a number just pops in your head when you see stuff like this and you just go for it.
Raw coins are raw for a reason... therefore, they are buyers market....Dealer will likely want to go high, but will settle...Cheers, RickO
You've posted quite a question. I know there are several large wholesale dealers who buy anything for the right price. They make a good living buying "problem coins." They are also very experienced, long-time dealers. I should think that they could give you some guidance if you can find a free space at their table during a show.
Until you reach their level, it is probably best to avoid damaged coins. Otherwise start you offer way, way, low. You'll get run off quite a bit but eventually, you'll find dealers who would love to get rid of their mistakes at a low price. Additionally, when these coins came in with a collection, the dealer probably paid "nothing" for them. You should try to do the same. One thing that works is to bundle the damaged coins with some strong prices for the good stuff.