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New collector grading question

racin500racin500 Posts: 8 ✭
in U.S. Coin Forum
I am looking at an auction for a Flying Eagle Cent. The coin is graded by ANACS as "VF Details Net F 12". The coin has a scratch noted on the slab. It is listed in the auction as a VF-20. Does this mean the true grade of the coin is F-12? Somewhere between?

I did not list the auction since I wasn't sure if that is allowed here.

Comments

  • fastfreddiefastfreddie Posts: 2,902 ✭✭✭✭✭
    VF coin netted down to F12 due to scratch. List or link away we'd be glad to looksee. No rules violation for that.

    Oh..and Welcome!
    It is not that life is short, but that you are dead for so very long.
  • pmacpmac Posts: 3,189 ✭✭✭
    It must be in an early ANACS slab. The grade without the scratch would be vf-20 or better. Because of the scratch, they used to give it a net grade of f-12. Not many TPGs give net grades any more. BTWimage
    Paul
  • JRoccoJRocco Posts: 14,277 ✭✭✭✭✭


    << <i>It must be in an early ANACS slab. The grade without the scratch would be vf-20 or better. Because of the scratch, they used to give it a net grade of f-12. Not many TPGs give net grades any more. BTWimage >>



    Yup
    Think of it as a coin that would be a 20 without the scratch, but is only worth 12 money with it.
    Some coins are just plain "Interesting"
  • racin500racin500 Posts: 8 ✭
    Thanks for the quick response. The coin is on Heritage. It's a 1858/7 Flying Eagle.

    http://coins.ha.com/c/item.zx?saleNo=1168&lotNo=7084&lotIdNo=5694

  • Walkerguy21DWalkerguy21D Posts: 11,682 ✭✭✭✭✭
    Welcome aboard!
    Other than that, I can't really add much to what others have said already to answer your question.
    I would be careful with pricing a coin like this though, and would not necessarily price it like a Fine.
    I, and many others, would likely pay more for a Fine with no problems than a VF with problems. How much less is it worth? Depends on the severity of the problem - is the scratch small and mostly hidden on the reverse, or prominent and on the obverse?
    Valuing problem coins is tricky business - Keep that in mind.
    Good luck!

    Successful BST transactions with 171 members. Ebeneezer, Tonedeaf, Shane6596, Piano1, Ikenefic, RG, PCGSPhoto, stman, Don'tTelltheWife, Boosibri, Ron1968, snowequities, VTchaser, jrt103, SurfinxHI, 78saen, bp777, FHC, RYK, JTHawaii, Opportunity, Kliao, bigtime36, skanderbeg, split37, thebigeng, acloco, Toninginthblood, OKCC, braddick, Coinflip, robcool, fastfreddie, tightbudget, DBSTrader2, nickelsciolist, relaxn, Eagle eye, soldi, silverman68, ElKevvo, sawyerjosh, Schmitz7, talkingwalnut2, konsole, sharkman987, sniocsu, comma, jesbroken, David1234, biosolar, Sullykerry, Moldnut, erwindoc, MichaelDixon, GotTheBug
  • JJMJJM Posts: 8,089 ✭✭✭✭✭
    image Newbeeeeee, sorry, i dont do copper, but many do

    Enjoy linkyhelp
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  • braddickbraddick Posts: 24,781 ✭✭✭✭✭


    << <i>I am looking at an auction for a Flying Eagle Cent. The coin is graded by ANACS as "VF Details Net F 12". The coin has a scratch noted on the slab. It is listed in the auction as a VF-20. Does this mean the true grade of the coin is F-12? Somewhere between?

    I did not list the auction since I wasn't sure if that is allowed here. >>



    ANACS is liberal with the net grade as many collectors wouldn't want a problem coin at the "value" ANACS deems it.

    peacockcoins

  • rickoricko Posts: 98,724 ✭✭✭✭✭
    Welcome aboard racin500.... Cheers, RickO
  • lcoopielcoopie Posts: 8,873 ✭✭✭✭✭
    welcome racin500

    you might turn on your private messaging if desired

    LCoopie = Les
  • DorkGirlDorkGirl Posts: 9,994 ✭✭✭
    image
    Becky
  • CarlWohlforthCarlWohlforth Posts: 11,074 ✭
    The key point is that it is a problem coin. By giving a net grade ANACS is suggesting how to value the problem. In my experience it is not worth buying problem coins except at an extreme discount. In this case, especially as a new collector, I would not buy a problem coin at any price.


    edited to add: Forgot to say Welcome to the forums!
    Carl's Coins website w/ links to Carl's auctions
  • ebaybuyerebaybuyer Posts: 2,984 ✭✭✭
    a problem coin is only a problem coin until someone gets it to slab. in a series such as FE cents where there isnt a great difference in price from a F to a VF i would go for a VF without a scratch, or even an XF. your buying habits should reflect your intentions, if you plan to try and make a profit off your purchases, i would stay away from scratch and dent coins, if you are buying them for your own enjoyment with no hopes of profit then buy what appeals to you.
    regardless of how many posts I have, I don't consider myself an "expert" at anything
  • johnny9434johnny9434 Posts: 29,183 ✭✭✭✭✭
    welcome to the forums image lotta good stuff to learn here as well

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