How to assess the value of a "Genuine"

1897smorgan · February 9, 2012 1:52PM

I am looking to complete a date set, so I am not looking to find the best for each coin, but I did find a coin that fits the bill. It is in a PCGS Genuine 92 holder. My question is how do I value this coin, so I can make an informed offer?

Side note: This a date set to commemorate my Great Grandma who lived to be 104, she was born in 1874

I appreciate any advice...thanks
Paul

MsMorrisine · February 9, 2012 2:03PM

hard to say.

it depends upon how cleaned it appears.

abrasively? lightly?

have you done any auction searches for past genuine coins of the same ?

RedTiger · February 9, 2012 2:24PM

Like the price of any U.S. coin, auction archives are your friend. Look for comps in the Heritage and Teletrade auction archives. That history will get you in the ballpark. Of course the actual coin might trade at a different price. If offered for sale by a dealer, some dealers might hold out for near full price, so it will be a no-sale to the educated buyer. Almost all the U.S. coins dated 1874 are likely available somewhere else if a person is patient, so the other option is to keep shopping. For 90% of collectors, a problem coin will tend to be seen as lower in quality and price even if the details are higher than a no problem coin at a lower base grade.

A light cleaning might mean 20% off the price of no-problem example. A harsh cleaning more like 50% or even 80% off for high grades. It is difficult to generalize, again, the auction archives with images will get you in the right ball park.

291fifth · February 9, 2012 3:12PM

Do you really want to own coins in "genuine" holders?

Even if the answer is yes, don't be generous in your offer. The problem isn't going to go away.

Justlooking · February 9, 2012 4:30PM

Genuine = problem. I know it's hard, but I'd hold off, set aside some greenback dollars and get a genuinely great coin.

abitofthisabitofthat · February 9, 2012 8:07PM

It depends upon the coin. A ceaned coin that is common in problem free condition will trade at a very substantial discount as there is really no reason to buy one. A cleaned coin that is scarce in any condition will always have some demand, and should trade at a lesser discount. If you post the specific coin, or shoot me a pm, I could be more helpful.

Chris

TwoSides2aCoin · February 9, 2012 8:26PM

Paul,

The previous posters gave great advice. If it's a "gennie" it has some issue preventing a grade from being assigned. How does a person value the problem ? Since your goal is "completion" and that's probably what would bring satisfaction more than quality coins, the best way to value the "label" is to look beyond the plastic and see what the underlying problem is. This will help you deterimine the "eye appeal" of the coin and that will likely suit your needs best.

PerryHall · February 9, 2012 9:01PM

Can we get a pic of this coin? Like other have said, it depends on the nature of the cleaning---is it subtle and hard to see or did they use a piece of coarse sand paper on it---it really does make a difference.

mbogoman · February 9, 2012 10:15PM

<< <i>It depends upon the coin. A ceaned coin that is common in problem free condition will trade at a very substantial discount as there is really no reason to buy one. A cleaned coin that is scarce in any condition will always have some demand, and should trade at a lesser discount. >>

Hit the nail right on the head. To use an extreme example, I just completed a US dollar type set with an original Gobrecht dollar in a Genuine-92 slab. It sold for about 25% less than what an unmolested version with the same wear would have sold.

1897smorgan · February 10, 2012 10:54AM

Here are pictures of the coin, I know they are not the best, but they are all I have. As I said before, this is to complete a set, and any coins I purchase will not stay in their plastic. They will end up in some sort of framed dispplay when completed. hopefully the pics will com out .

Thanks everyone for your thoughts.
<a href="http://s1125.photobucket.com/albums/l599/simplyme55318/?action=view&current=1874tradeobv.jpg" target="_blank"><img src="http://i1125.photobucket.com/albums/l599/simplyme55318/1874tradeobv.jpg" border="0" alt="Photobucket"></a>

RedTiger · February 10, 2012 11:09AM

My vote: pass

If you are making a set, try for an even look. Unless the coins you have already also looked cleaned, why buy that one? It is a common enough coin. Keep shopping. You might have to go a grade or even several detail grades lower to fit your budget. If you insist on making an offer, again, auction archives are your friend. Do a search on cleaned coins of that date and you'll find them.

How to assess the value of a "Genuine"

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How to assess the value of a &quot;Genuine&quot;

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How to assess the value of a "Genuine"