How much discount on damaged Charolette gold?
Vetter
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How much discount should I expect on this $2 1/2 Charolette gold? The damage is on the reverse but isn’t to distracting to my eye. NGC AU details. Should the price be knocked down to say high VF to low XF? Thanks for any input.
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Have you checked to see if there have been auction sales of AU details examples with similar issues?
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
I just bought this VF Scratched Charlotte $5 last month. It went for VF25 Greysheet. There were two other Charlotte $5s that went for equally strong money compared to guide.
Not perfectly apples to apples but I would expect a strong market for attractive Charlotte gold.
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Considerable but a problem coin dealer would be a good source for that answer.
It’s got nice surfaces despite the problems, I’ll bet it’ll bring pretty decent money regardless.
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It’s highly variable and needs to be on a case by case basis, and the price spread between grades is one of the most important considerations.
As a broad generalization, I’d say that problem coins are typically valued at no more than half off the price of the coin if the problem weren’t there, around 40% seems to be pretty close in many situations. The other way to do it is that you knock the coin down two alphabetical grades, ie: problem AU-55 that will be priced as a straight graded 35, give or take.
Again, the type of damage and the severity have a substantial effect, and a coin that’s cleaned, or inconspicuously scratched, will fare much better than a coin with repairs or bad graffiti. With some series, coins graded as “details cleaned” are virtually identical to many coins with straight grades, so it might actually be a great value buy.
The other thing that plays a major role is the basal value, the rock bottom value of the issue in its worst form. For a $50 slug, that number is in the ~20kish, for a high relief saint. I’d say around 7-8k. For a coin like the one that @lermish posted, any D or C mint $5s tend to bottom out around 2k, which is right below that issues grey bid in 25. On its face, if someone says they paid VF25 money for a problem VF35, it would seem that they overpaid, but in his case there’s substantial price compression that puts the coin near its basal value.
The OP coin is a similar situation, without much of a spread until uncirculated grades. I think “AU” might be a tad generous, imo the coin has XF surfaces, but you’re so close to the basal value already that there won’t be a huge discount. If that coin would have been $2500 straight graded, it might still be worth $1500 in a details holder. Someone else might have a bette idea of the basal value of a charlotte QE, but unless it’s priced close to the floor, I would recommend seeking a straight graded example if it’s an important issue for your collection.
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I see more problems on the obverse than the reverse. Easy coin to pass on
As someone pretty ignorant of this series, the big problem for me is the mintmark! Namely that it is not cleanly separated from the design, unlike the one lermish posted. If I were to buy a Charlotte coin, it would be to add an example (probably just one) of the C mint mark to my collection, so I want the mint mark to stand out, and this one does not.
Also, I sort of have to agree with @1madman, I do not consider this piece to be attractive...the half eagle posted above, in light of the reverse dig and scratches in the right field, has nice color and is an otherwise original coin.
This coin looks harshly cleaned, has numerous scratches, rim indentation which could indicate jewelry usage, and it is tooled all over the place. I've marked the locations that are problematic just looking at these photos, but I really would stress that this one is not a "minor" problem coin, and I would only begin to entertain it at the rock bottom floor price.
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It’s a piece of Charlotte gold, and it’s a quarter eagle, which makes it rarer, At fair price, it would not be an “easy coin to pass on.” I have seen far worse. You also have to remember that the picture is blown up to several times the coin’s size, which dime size. That emphasizes every defect.
You probably won't like this one either, but it's got a PCGS straight grade AU-50. It is a late die state piece with lots of die cracks.
On a quarter eagle, the placement of the mint mark is normal. If you want something clearer, you will need to look at an earlier piece or a gold dollar or half eagle.
Here is another date. There just wasn't enough room in the design for the "C" mint mark.
Nice coin. The dings don't really matter to me. The coin looks like a nice piece of Charlotte gold!
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