Have/would you buy a coin net graded for cleaning?

Heywood · June 30, 2005 11:12PM

I am finishing up my Type set and have been haveing a dificult time finding some coins in a reasonable grade/$ range combination.

Since they are going into the Dansco 7070 most purchases have been raw coins.

For the longest time I could not find a decent looking reeded edge bust half, and then I found an ANACS AU details, net 40 cleaned example, it doesn't look too scratched and has started to re-tone.

I am not looking for an investment,
mostly just overly eager to complete my set.

I guess I am looking for a few " If you like it that's all that counts" or " be more patient, they are out there" comments.

Guidance please- I am afraid I may do it again for my seated dollars and my 0.20 cent piece!

DJC · June 30, 2005 11:18PM

I have a few (mostly Capped era) pieces in my 7070 which have been cleaned at one time or another. I really don't mind a lightly cleaned piece if it's not badly hairlined, and beginning to retone nicely. As long as it's priced accordingly, not too badly cleaned, and otherwise appealing, I see nothing wrong with lightly cleaned net graded coins for an album.

OKbustchaser · June 30, 2005 11:21PM

" If you like it that's all that counts" or " be more patient, they are out there"

I agree with both statements. As to the particular coin you are considering I have a question. Can YOU tell that it has been cleaned. After all, it is your collection not ANACS. If you can't then buy it. If you can tell I would pass...because they are available in a condition where you couldn't tell. Keep in mind that at least 999 out of every 1000 19th century non-Morgans have been cleaned whether it is mentioned on any holder they may be in or not.

Jim

Chazpear · June 30, 2005 11:22PM

I have done the same thing for a couple types in my 7070 as well. I wanted examples that showed a good deal of detail, didn't look to cleaned, wouldn't use up 6 months of my coin budget. End result was a couple of net graded cleaned Anacs pieces. I really like them and someday when I have more money (or patience) I can upgrade them first.

seanq · June 30, 2005 11:28PM

As long as the cleaning is old and not seriously detracting, absolutely. My 1922 Plain was net-graded for cleaning, but cracked out and in my album it fits right in with the rest of my Lincoln set (and also cost me a fraction of the cost of a problem-free coin in the grade).

I also own a 1939 Lincoln Cent DDO, a scarce die variety, ANACS net graded MS60 scratched. The coin is a full red gem except someone tried to pick off a carbon spot behind the portrait with a pin. The marks aren't very distracting, they almost look like die polish lines until you take a loupe to them, and the coin cost me less than $40. I just use my loupe to look at the doubling (which is impressive in this grade) instead of the scratches and I'm happy as can be.

Sean Reynolds

Shamika · July 1, 2005 12:00AM

If the cleaning wasn't obvious AND the coin was unattainable due to rarety or price, I certainly would.

mirabela · July 1, 2005 12:03AM

One of the good things about ANACS is that they'll mark a coin as cleaned even if the cleaning is really light and inoffensive. They net grade plenty of coins PCGS and NGC would slab with a clean bill of health.

I would only pick up this coin if the cleaning is truly inoffensive and the surfaces are still appealing, and if the price reflects its net graded status. The reeded edge half isn't an easy coin to find nice, but it can be done. If you want a really good one, I'd recommend holding out. After all, you're going to be looking at that type set for a while aren't you? I find the pieces in mine that I like the best are the ones where, when I least expected it, a really nice coin -- or even a great coin -- showed up. Anyway, if you get into it at a decent price you can at least get back out when a nicer one surprises you.

Here's the kind of situation in which I'll happily use a coin with "issues:" 20c pieces are a dime a dozen in lower grade, but they look like crap right up until VF at least, as "LIBERTY" is gone on even a Fine coin, and lots of them have been abused. I was at a show last winter, and this old timer has for sale a coin that has VF30-ish detail, full bold LIBERTY --maybe XF40 if it's my lucky day, I'm no expert at grading these -- under old old old blue-brown heavy toning, with a small but serious punchmark obscured in the lady's folds. Marked $60, and as I'm turning it over he says "I can do fifty." Now, I did not go to that show looking for a 20c piece, but I felt sure I would never find a coin as attractive as that for less than $100 again, so after another turn around the bourse I went back and bought it.

PerryHall · July 1, 2005 12:08AM

There are plenty of coins (especially untoned early silver coins) in PCGS and NGC holders that are cleaned and net graded. It just doesn't say so on the label.

RYK · July 1, 2005 12:10AM

Here's an example from my collection. I bought it before I knew better, and it is in a PCGS VF-35 holder. The details are XF/AU, but the coin has been dipped and stripped. It is a rare coin and most of this date (41-O $10) have been similarly abused. I doubt that NGC would holder such a coin:

CoinOnTheCob · July 1, 2005 12:17AM

I have a 1909-S VDB that didn’t cost me too much. I sent it in to ANACS who informed me that it had been “whizzed.” I had always wanted a VDB and I love the thing. But, I will probably never sell it. My grading skills suck, and have no ability to tell if a coin has been cleaned.
COTC

Heywood · July 1, 2005 12:18AM

Thanks for the opinions/ advice-

I have seen some ANACS coins marked cleaned where I couldn't tell, and others that were either scratched to h3ll or a dipped out gun metal grey.

I do think with my budget, the seated dollars will have to be "probem" coins if I want any kind of detail.

Mirabela- I'll give you $60 for the 0.20 piece

mirabela · July 1, 2005 12:19AM

<< <i>I doubt that NGC would holder such a coin: >>

Why, are they stricter than PCGS on gold? I've certainly seen them let some glossy, polished junk through in silver of the same era.

<< <i>I do think with my budget, the seated dollars will have to be "probem" coins if I want any kind of detail. >>

Or just wait. You'll pay $200+ for a seated dollar with problems that's still worth looking at, and you can have a pretty decent one, with motto or without, for $450 or so. Just bide your time...

And about your offer -- in your dreams, bud

Barry · July 1, 2005 12:42AM

I agree with most of the above comments. You can find some nice coins that ANACS calls cleaned and get good deals. Look at the Barber dime in my 7070 type set. It has gorgeous toning and was in an "Unc details net AU55 cleaned" ANACS slab.

RYK · July 1, 2005 12:52AM

Why, are they (NGC) stricter than PCGS on gold?

No, they are stricter about BBing problem coins.

morgannut2 · July 1, 2005 1:42AM

NO==

If I can see the cleaning I'd pass-

PerryHall · July 1, 2005 2:48AM

I have cracked two net graded ANACS coins (one had very minor rim damage and the other was lightly cleaned) and submitted them to NGC where they were both slabbed. They were both pre civil war gold coins. ANACS net grades a lot of coins with very minor problems that both PCGS and NGC will grade and slab.

RedTiger · July 1, 2005 3:17AM

The unspoken truth has already been stated--that PCGS and NGC holder certain coins and net them out. This is more common for tough dates than common dates. The term is "market acceptable." Estimates vary on the percentage of coins that have had "a light dip." For early silver type, anything white may have been given a bath. For Morgans, white coins with average or below average luster are suspect. It is extremely difficult to tell if a coin has been expertly dipped. Amatuerish cleaning can be spotted a mile away, but the professional coin doctors are very good at what they do.

Coins with a provenance and a history that can be traced often leave a trail of bread crumbs. However, these kind of coins are a very small percentage of the coins available.

So the answer is yes, I have and will continue to buy coins that are not original. Sometimes it is better to know and buy the ANACS slab than not know and buy the other company's. Collectors that like old white silver coins wrestle with this every day.

mirabela · July 1, 2005 3:33AM

RedTiger, turn on your PM function. I'm flattered you chose my coin for your avatar. Are you a Vermonter too?

dbldie55 · July 1, 2005 3:33AM

Numerous times.

Have/would you buy a coin net graded for cleaning?

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