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Do you still purchase "problem coins"?

FlackthatFlackthat Posts: 412 ✭✭✭✭
in U.S. Coin Forum

I purchased this 1877 S Trade Dollar in a PCGS UNC Details holder. Can you guess what is wrong with it?
What is your opinion on problem coins?

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Comments

  • coinhackcoinhack Posts: 1,174 ✭✭✭✭

    Questionable color?

  • ChopmarkedTradesChopmarkedTrades Posts: 534 ✭✭✭✭✭

    Not sure what the problem is on this one. AT, maybe a light cleaning?

    Depending on your opinion on chopmarks, I _only _collect problem coins.

  • ctf_error_coinsctf_error_coins Posts: 15,433 ✭✭✭✭✭

    I never buy problem coins.

    I only buy junk coins :D

  • Insider2Insider2 Posts: 14,452 ✭✭✭✭✭

    I'll guess "repaired."

  • coinhackcoinhack Posts: 1,174 ✭✭✭✭

    Or I have also seen them designate a coin as simply "Cleaned". Which implies that it is also artificially re-toned.

  • KliaoKliao Posts: 5,694 ✭✭✭✭✭
    edited December 12, 2019 10:42AM

    Cleaning?
    Artificial color?

    Collector
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  • amwldcoinamwldcoin Posts: 11,269 ✭✭✭✭✭

    Could be deemed environmental damage.

  • johnny9434johnny9434 Posts: 29,262 ✭✭✭✭✭

    environmental damage ?

  • MICHAELDIXONMICHAELDIXON Posts: 6,591 ✭✭✭✭✭

    Environmental damage

    Fall National Battlefield Coin Show is September 11-12, 2025 at the Eisenhower Hotel Ballroom, Gettysburg, PA. WWW.AmericasCoinShows.com
  • TradesWithChopsTradesWithChops Posts: 640 ✭✭✭✭

    Yes, I do buy problem coins - even raw problem coins.

    e.g.: a cleaned 1876-cc wide cc

    In regard to yours, I like the overall look. My guess is cleaning/environmental damage on the right side of the reverse.

    Minor Variety Trade dollar's with chop marks set:
    More Than It's Chopped Up To Be

  • ashelandasheland Posts: 23,765 ✭✭✭✭✭

    I only will buy them to flip, never for my collection. I’ve tried, but they always would bother me.

    My YouTube Channel

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  • PerryHallPerryHall Posts: 46,867 ✭✭✭✭✭

    Not knowingly. :s

    Worry is the interest you pay on a debt you may not owe.
    "Paper money eventually returns to its intrinsic value---zero."----Voltaire
    "Everything you say should be true, but not everything true should be said."----Voltaire

  • Insider2Insider2 Posts: 14,452 ✭✭✭✭✭
    edited December 12, 2019 11:38AM

    Do I buy problem coins? Yes, yes, and sometimes. BTW, I discourage folks from buying problem coins BUT I know a few folks making a ton of money dealing in problem coins. I guess much of it is because many folks cannot afford coins w/o problems.

  • mannie graymannie gray Posts: 7,259 ✭✭✭✭✭

    Despite conventional wisdom to avoid problem coins, my experience has shown that they sell rather easily and often faster than "good" coins.
    You just have to develop a feel for what they will sell for and buy accordingly.
    As I think @Insider2 said, there are many dealers who make a living selling mostly, if not all problem coins and it's usually three or four deep at their tables.
    I'm not sure what the takeaway there is, but draw your own conclusions.🤔

  • BarndogBarndog Posts: 20,515 ✭✭✭✭✭

    I do not buy them for my collection.

    JR Newsletter Online Edition
  • TradesWithChopsTradesWithChops Posts: 640 ✭✭✭✭
    edited December 12, 2019 12:01PM

    I have several N1's, and I love them all.

    1875-s Type 1/2, Micro s.
    1876-cc Type 1/1, Wide-CC
    1876-cc Type 1/1, Rev of '75.
    1877-s Type 2/2, Large S, No Periods

    All with chop marks, of course

    Minor Variety Trade dollar's with chop marks set:
    More Than It's Chopped Up To Be

  • oldabeintxoldabeintx Posts: 2,462 ✭✭✭✭✭

    A few colonials with environmental damage, a shilling excessively clipped, A few very old, 17th century and earlier with old cleaning. I can be forgiving when it comes to 200+ year old problems.

  • Walkerguy21DWalkerguy21D Posts: 11,718 ✭✭✭✭✭

    @Insider2 said:
    Do I buy problem coins? Yes, yes, and sometimes. BTW, I discourage folks from buying problem coins BUT I know a few folks making a ton of money dealing in problem coins. I guess much of it is because many folks cannot afford coins w/o problems.

    Agree, I have a dealer friend who changed his biz model to focusing on problem coins of various kinds, frequently helping major dealers to ‘move’ them. Apparently this is a lucrative business.

    For myself, I have greatly reduced purchasing them, but will make exceptions for early/tough large cents. Compromise is the game with these.

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  • SmudgeSmudge Posts: 9,823 ✭✭✭✭✭

    @CCGGG said:
    Just about every coin I buy has the same problem. I pay too much.

    Me too, but no detail coins for the collection.

  • rickoricko Posts: 98,724 ✭✭✭✭✭

    I have a chopmarked coin... perhaps that is not considered a 'problem' though....I tend not to buy problems...either coins or other products...just not worth the aggravation each time I would look at it. Cheers, RickO

  • Mdcoincollector2003Mdcoincollector2003 Posts: 665 ✭✭✭✭✭

    Yes I do. However, if I can I will buy a straight grade

  • OKbustchaserOKbustchaser Posts: 5,546 ✭✭✭✭✭

    Often...but then, I buy for my enjoyment, not for any resale value.

    Just because I'm old doesn't mean I don't love to look at a pretty bust.
  • BaleyBaley Posts: 22,663 ✭✭✭✭✭

    Almost exclusively.

    Can't afford most problem free R5-R7 pre 1828 varieties.. the alternative is to go through life without an example.

    I try to limit the damage to contemporaneous-appearing circulation and test marks and light, old cleanings, but do have holed and graffiti coins too.

    Liberty: Parent of Science & Industry

  • LindeDadLindeDad Posts: 18,766 ✭✭✭✭✭

    No got rid of the only one I ever bought on purpose.

    My Current project....https://www.pcgs.com/setregistry/mysetregistry/album/160794
  • goldengolden Posts: 9,996 ✭✭✭✭✭

    I do not buy problem coins.

  • Dave99BDave99B Posts: 8,700 ✭✭✭✭✭

    I've never purchased a NET graded coin.

    If it's date/mm I need, I'll dip way down in grade if I have to. NET graded material isn't for me.

    Dave

    Always looking for original, better date VF20-VF35 Barber quarters and halves, and a quality beer.
  • BroadstruckBroadstruck Posts: 30,497 ✭✭✭✭✭

    Sure I've bought some NGC Details tokens if I think they are wrong or it's still very eye appealing issues aside.

    I own a few details mint errors that even Hanson & Simpson with powers activated like the Wonder Twins couldn't find problem free.

    To Err Is Human.... To Collect Err's Is Just Too Much Darn Tootin Fun!
  • BroadstruckBroadstruck Posts: 30,497 ✭✭✭✭✭

    One of my more recent that I really like...

    I normally do not buy anything punctured for suspension, but this token beyond the hole condition wise is probably in the top five and the second prettiest I've seen. It has great patina, on lustrous surfaces, with cool pull-away original red.

    1837 E.F. Sise & Co., Portsmouth, NH, HT-195 / Low-132, Hard Times Token, 28mm Diameter, Copper.

    To Err Is Human.... To Collect Err's Is Just Too Much Darn Tootin Fun!
  • TwoSides2aCoinTwoSides2aCoin Posts: 44,619 ✭✭✭✭✭
    edited December 12, 2019 4:11PM

    I sure do, and PCGS reminds me on just about every submission. ( but don't get me wrong. I like my problem coins ).

    ``https://ebay.us/m/KxolR5

  • divecchiadivecchia Posts: 6,688 ✭✭✭✭✭

    I have not, but was thinking about it on some of the old gold that usually runs in the 5 figures.

    Donato

    Hobbyist & Collector (not an investor).
    Donato's Complete US Type Set ---- Donato's Dansco 7070 Modified Type Set ---- Donato's Basic U.S. Coin Design Set

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  • coinbufcoinbuf Posts: 11,848 ✭✭✭✭✭

    I have on occasion depending on whats wrong, and I have done so unintentionally from time to time. But as a general rule no I try and avoid them.

    My Lincoln Registry
    My Collection of Old Holders

    Never a slave to one plastic brand will I ever be.
  • JimnightJimnight Posts: 10,846 ✭✭✭✭✭

    It would depend on what the " problem " is.

  • KliaoKliao Posts: 5,694 ✭✭✭✭✭

    @Realone like your profile pic ;)

    Collector
    91 Positive BST transactions buying and selling with 56 members and counting!
    instagram.com/klnumismatics

  • lkeneficlkenefic Posts: 8,582 ✭✭✭✭✭

    For me, it depends on the coin, and it depends on the problem. Generally, I stay away from problems... they don't miraculously go away when or if you have to sell. That said, there are certain coins I want where I'll likely have to compromise to have in my collection. .. example... I was looking at a Chain Cent that was pretty nibbled up and corroded, but it had a readable date... I was still outbid.

    Collecting: Dansco 7070; Middle Date Large Cents (VF-AU); Box of 20;

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  • OverdateOverdate Posts: 7,159 ✭✭✭✭✭

    This 1879-CC is a nice match for my key chain.

    My Adolph A. Weinman signature :)

  • SilverProofQuarter1883SilverProofQuarter1883 Posts: 1,883 ✭✭✭✭✭
    edited December 12, 2019 6:31PM

    Man this is my dream coin, It is the The holiest coin I have ever seen online. Makes me feel religious. Lol 😆

  • DDRDDR Posts: 1,629 ✭✭✭✭✭

    Even not counting my chopmarked Trade Dollar collection I have a number of "problem" coins. Here is one of my favorites:

    David
    Complete Set of Chopmarked Trade Dollars
    Carson City Silver Dollars Complete 1870-1893http://www.pcgs.com/setregistry/showcase.aspx?sc=2722"
  • ReadyFireAimReadyFireAim Posts: 1,835 ✭✭✭✭✭

    Yep...Just bought this one....
    PVC haze all over...
    Hoping restoration goes well & it doesn't kill the toning.

    My Saint Set

  • DCWDCW Posts: 7,626 ✭✭✭✭✭

    When you collect rare exonumia, sometimes you have little choice.

    Dead Cat Waltz Exonumia
    "Coin collecting for outcasts..."

  • WalkerfanWalkerfan Posts: 9,750 ✭✭✭✭✭

    I don't buy them. I just buy the highest straight graded examples that I can.

    Sometimes, it’s better to be LUCKY than good. 🍀 🍺👍

    My Full Walker Registry Set (1916-1947):

    https://www.ngccoin.com/registry/competitive-sets/16292/

  • ZoinsZoins Posts: 34,401 ✭✭✭✭✭
    edited December 12, 2019 9:09PM

    @Flackthat said:
    What is your opinion on problem coins?

    I buy them but they need to be special.

    Here are 2 problem coins, an off center error and a Eric P. Newman coin, along with a top pop 1/0.

    Private Mint News | 2010 Lincoln Reverse Finalists
  • mannie graymannie gray Posts: 7,259 ✭✭✭✭✭

    @ReadyFireAim said:
    Yep...Just bought this one....
    PVC haze all over...
    Hoping restoration goes well & it doesn't kill the toning.

    You should be OK.

  • Wahoo554Wahoo554 Posts: 1,152 ✭✭✭✭✭

    @Realone said:
    All day long and will continue doing so.

    Whooooa. That example blows me away! Wonderful artistry on such an interesting coin. Do you have any backstory or further information on this one?

  • 2ltdjorn2ltdjorn Posts: 2,329 ✭✭✭✭

    I have been known to buy one or two.

    my favorite is a PCGS AU Details 1955 DDO with hole .

    WTB... errors, New Orleans gold, and circulated 20th key date coins!
  • 2ltdjorn2ltdjorn Posts: 2,329 ✭✭✭✭

    my bad,

    correct link.

    https://forums.collectors.com/discussion/896012/for-the-holed-enthusiast-1955-1955#latest

    WTB... errors, New Orleans gold, and circulated 20th key date coins!

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