Damaged, skillfully repaired -- valued more or less?
jonathanb
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I just read the interesting article by our hosts about the skillfully repaired Washington Eagle Cent.
Good on them for catching the deception. Still, I have to wonder... doesn't this have some value? If this was sold honestly as a damaged/repaired example with a long pedigree, would it now be worth more or less than it was when it was holed and tooled?
(Not my coin. I have no stake in the answer.)
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Comments
If it were a painting it would probably have increased in value. As a "coin" it runs into a field where repairs/alterations are looked down upon. The value will be in the eye of the buyer for a piece like this. Will he be more into the "art" or "coin" way of thinking?
Of course it still has value if it's genuine - just nowhere near what an unmolested coin would be worth. I'd be happy to own a repaired 1792 half disme, Gobrecht dollar, or round PanPac...... things I could never own any other way. But, I'd want the repair to be clearly stated and understood by all, no deception.
Beyond something like that, no thanks. I'll take the rest of my coins as they came, thank you.
Edited to add.....
More appropriate to your actual question (must have been asleep when I read it the first time), I’d rather own it holed than repaired and recolored. Value-wise though I see it as not all that different, but others probably would lean more strongly one way or another. It seems this was done with an intent to deceive, and that’s a huge turn-off for me.
I don't particularly care for the color, but that is some impressive work !
It's isn't my area, so I don't really have a valid value opinion. If pressed, I would say the value has not changed from the holed days....
Worth less to me.
Coin Rarities Online
Maybe.....if the surface condition and color had been maintained from its pre-repair state. But, the coin now has an unattractive, unnatural appearance. From an eye-appeal stand point, it looked much better before. I'm not a colonial collector, so I'm not sure which look, between the two, that most would prefer.
I do question how "serious" the detective work had to be to identify this as the Ted Craige example. Seems to me it is very easy to match up the dings, pits, and rim bumps between the two. Did the coin doctor (restorer?) really think that it would go unnoticed with a population of about a half dozen? Maybe the intention was originally not to deceive.
This story fits in well with the recent discussion about the 54-S half eagle.
A damaged, or repaired coin normally will not command the value of an original coin... Scarcity will, however, in conjunction with demand, bring high prices from collectors. Cheers, RickO
Isn't that why they make brown duct tape?
I have an excellent example of a repaired coin being worth more...in fact it is the only coin I have ever had repaired. I wish I had pictures of before and after! Close to 20 years ago I bought an 1855-S half on ebay. It had AU details but someone apparently had started to try to make a cut out of it by hand. All the fields were scratched very deeply on both sides...yet the devices were untouched!
I sent the coin to Stockton Sr.. Took around 5 or 6 months but I received the coin back and the only true telltale sign of repair was the color of the coin which he was known for. I had the coin certified and it came back AU details fields smoothed(that's an understatement!). Of course there was no way of knowing what the coin looked like before I had it repaired!
I think I paid around $100 for it on ebay(was an auction),$100 to have it repaired, and sold it to another dealer with full disclosure for $2000!
Wonder how many will slam me for this! A 55-S is a very tough coin in better grades!
I say the repaired coin above is worth multiples of what it was before the repair even with full disclosure. When repairing early copper like this it is a major gamble. I have heard tales of several chain cents basically exploding when the required heat is applied needed for the repair!
Worth a little more to me repaired than unrepaired provided the repair is very well done, but far less than undamaged.
Worth much less if a sloppy attempt to repair failed.
I would prefer to own a nicely repaired coin than the same one with a hole in it.
Could be a new descriptor on PCGS labels...... XF - Skillfully Repaired"
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One thing is required to make a repair more acceptable: Time.
Wait 50 years, when you can call it an "old repair", and it will become better than a holed coin.
Like an "old cleaning" is better than a recent cleaning. Coin collectors like a significant passage of time.
(Not sure why they messed with the surface of the coin, except maybe to hide it's heritage as the "previously holed" coin?)
This coin has been played with so much its now a "franken-coin" the surface,color and soul of it have all been jacked with. Its definitely better just holed. At least that was honest.
My Early Large Cents
Wondering if PCGS took note of who the submitter was? Seems likely that the "artist" who made the repairs isn't too far removed from the submitter. Someone to keep an eye on?
Wow, interesting story, thanks for sharing !!!
It can go either way. Too many variables to generalize.
One thing that needs to be considered is the extent to which the repair will make the coin more difficult to authenticate in the future. There are already many extensively repaired coins that I am unable to authenticate or condemn with certainty. As counterfeiters improve, the problem will only get worse.
Doggedly collecting coins of the Central American Republic.
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