Dipped & retoned: to grade or not to grade?
rhedden
Posts: 6,632 ✭✭✭✭✭
Here's an observation about the way the grading services look at coins that were dipped long ago, and may or may not have retoned naturally. Assume these coins are free of other problems that would prevent grading; the focus is just on the fact that the coin was dipped at some point.
Take a Proof or Unc. 19th century silver coin, dip it, and assuming the dip does not leave damage to the coin, it usually can be graded. Coins that developed secondary album or envelope toning are as good as those without it.
Take a circ. silver coin (say, below XF), do the same, and it usually won't grade because it doesn't "look natural".
Take a Proof or Unc. Indian cent, do the same, and it's definitely not going to grade, with or without the toning. Questionable color or cleaned, every time like clockwork. I guess the thinking is that the coin could turn brown or develop spots in the holder, and "fake" red cents have never been appreciated, either.
Does this system seem rational, or does it need revision?
Take a Proof or Unc. 19th century silver coin, dip it, and assuming the dip does not leave damage to the coin, it usually can be graded. Coins that developed secondary album or envelope toning are as good as those without it.
Take a circ. silver coin (say, below XF), do the same, and it usually won't grade because it doesn't "look natural".
Take a Proof or Unc. Indian cent, do the same, and it's definitely not going to grade, with or without the toning. Questionable color or cleaned, every time like clockwork. I guess the thinking is that the coin could turn brown or develop spots in the holder, and "fake" red cents have never been appreciated, either.
Does this system seem rational, or does it need revision?
0
Comments
In honor of the memory of Cpl. Michael E. Thompson
Latin American Collection
In this modern age of TPG's the added question of whether the coin will holder problem free after being dipped is another factor.
Keep all receipts for Sch D Capital Gains Reporting or if your Report Schedule C. Face the reality that some coins will end up as a loss once liquidated. This is simply the reality of the marketplace especially based on current market conditions.
I have sent in for grading coins I have dipped (usually due to PVC damage, unattractive toning) and the result was usually positive. I would send in a dipped / retoned coin especially if it was of enough of a material cost nature to justifuy the grading expenses. If it comes back in a details holder you can always liquidate it on ebay starting auction at 99c and many people buy these to crack out and put in their album. But a $20 - $50 World collector coin for my 28 coin bourse tray of collector coins at shows - no.
The quicker one flips material, the more likelood some of this can be avoided. Financial loss due to investment in rare coins is a risk every investor must face.
quite a lot, and your assessment is something I have mentioned many times. maybe the room is starting to fill up.