coin values

Steven · Expert Member

When you come across a coin that you want to buy and you know the grade, variety, error etc. You know the estimated value placed on that particular coin but you find it has been cleaned. How do you determine a new value of that coin. Is there some formula to go by or is this just determined buy the buyer/seller?
I have noticed that in some auctions it doesn't seem to matter to some buyers on some key coins but on other coins it seems to matter a great deal.

Thanks,
Steven

coppercoins · Site Admin

I would generally have to consider the extent and method of cleaning. If it looks somewhat decent and would work in a set, I would take one full grade off its value. If it's a cleaned EF and has a value of $50 in EF, $30 in VF, I'd be a buyer at $30.

If the coin is brassy and just ugly, I probably wouldn't be a buyer at all. For not one of the die varieties is there a surviving number so small that buying a severely cleaned example becomes a must. I'd rather wait for a better one. If buying a severely cleaned example is your cup of tea, offer a grade and a half down in value. For the same hypothetical case, EF is $50, VF is $30, F is $20...you would offer $20-$25 for a severely cleaned example with EF details.

coop · Expert Member

Steven: That is a good question. some grading companies that note cleaning drop the grade one or to steps dow to accomodate a new price range for the coin you wish to purchase. If a coin is damaged/scratched/dinged/cleaned/buffed/plated/or what ever else can happen to a coin, then the price should drop drastically as a good coin should merit a good price. You see how grades in MS-65 and above multiply as the grade increases. So to a mark on either side would reduce the coin value. A proof coin with one side cameo and other without, a grading company will not consider it a cameo coin. Details must be strong on both sides of the coin to be a higher grade coin. I saw I think in Chucks book about grading and adding and deducting price for imperfections on coins. Don't know what page it is on right now, but I remember reading it. When I mention dropping a grade, I don't mean from MS-65 to MS-64. On a coin that is damaged/cleaned/whizzed/dinged from dropping/scratched you have to ask, is this coin still mint state? Not in the new condition it is in now. So a AU coin might drop to a EF or VF if severe in price, deducted because of the new condition that this coin is in NOW. Lower grades a couple of steps can be real severe to its price. So :
1. Never clean a coin if you are not experienced in doing so. Practice on a circulated coin before doing something to a high grade/high value/key date coin.
2. Wash hand before and sometimes during exposure with coins. If Circulated, what you fingers and see if they are getting soiled from contact with the coins you are going through. Some coins have oil/whatever on them and they can put dirt on you finger tips that could scratch coins you touch later. So wash hand frequently when dealing with circulated coins.
3. Always hold coins by the rims. Pick them up that way, handle them that way. The one thing that a coin will retain from you is finger prints on proof or BU coins. So wash before handling and if need be keep checking to see if you need to again.
4. Store you coins in flips/2X2's/tubes or other means to keep coins from dust/dirt/oil/ contact from other coins as this may reduce the overal look to you coins. Becareful with certain brands of folders/flips and other means that ruin coins also. So folders make coins turn color/rub from sliding plastic shields/flips that have PVC in them as they will ruin the sheen off a BU coin. So read up and learn how to take care of the coins you have and watch the coins that you buy, that they may not have problems that you will later regret. I hope this helps.

coop · Expert Member

Second time today that Chuck posted before I got my message typed. Oh well it is good to have a second opinion also. At least we are at the wheel here... Wink

Steven · Expert Member

Thanks for the replies. I'm not looking for cleaned coins but I have quite a few wheats that at some point have been cleaned to a brassy shine, by someone. Most are not that collectable but a few may be. This will also give me a good reference should I ever sell or trade any of them. Some people don't seem to care that they are selling junk like harshly cleaned coins and many times you can't view an entire collection at auction but the representation doesn't indicate cleaning of any of the coins sometimes so the price goes up. I don't want to misrepresent myself on a grade or whether or not a coin has been cleaned is the reason for asking these questions.
I GUESS I MAY BE RAMBLING ON BECAUSE OF BEING UPSET OVER A BAD BUY. NOT EXPENSIVE ENOUGH TO SKIP A MEAL OVER BUT SOME SELLERS..(BLANK)........LIVE AND LEARN I GUESS.

Thank you again,
Steven

coop · Expert Member

Steven: L & L. I find when I get burned on a purchase I start a personal vendeta to keep others from falling for the same thing. But every time I look at a burned purchase, it keeps this from happening to me again or help others on ebay to keep from sell junk there. I email them and let them know what they have. Being that money is tight, I still get involved with contacting sellers and some of them today are on the forum. Others have keep in touch through emails. I find most seller appreciate a heads up if they are sell fraudulent items. I guess the greatest fear on Ebay is the Negative feedback and usually do the right thing. So don't know what they are selling and I let them know what it is that they have and a good thank you comes back to me. So L & L is the best way to view items you get burned on.

murphy · Senior Member

We all breathe better when things go well and that's what we look forward to and grow to expect from other people. But some people just don't know or even care what they're doing when they clean a coin. So don't let it bother you too much. Just think that it is liable to happen again and try to be ready for it and not let the next time be very costly. OR...you can watch the PAID ADVERTISEMENTS on TV for stuff that RESTORES YOUR SCRATCHED EYEGLASS LENS TO BRAND NEW CONDITION - USE THIS STUFF, IT FILLS CRACKS, SCRATCHES and ABRASIONS, lol.

rollmeupabe · Veteran Member

When I first started on Ebay I was very uninformed about how it worked. In my first 20 purchases or so I was ripped off by a few sellers so I gave them feedback that reflected the junk they sold me. For my honesty I ended up with a negative feedback in return which now hurts me when I am trying to sell stuff. Did anyone have a similar experience? How did you deal with it?

coop · Expert Member

Steven: I always insist on them giving me feedback first as I completed the transaction and it is up to them to leave feedback then. If I'm not satisfied with the purchase I send a message to them that I was not happy with the purchase and they usually offer to make it right as they don't want negative feedback. If they refuse to give feedback or refund the money I hold off for the time and wait to see what happens. If I like the item and they have left feedback, then I leave feedback. If I'm not happy with the item either it goes back or just don't leave feedback as they are ignorant and a negative won't help them. So I really hold back from giving negatives and I have only given two out of almost 500 transactions. There is always the way of contacting the seller/buyer and both mutually with draw the negative that way both of you don't have the negative feedback. So just a few sugestions.

Bob P · Site Admin

That's the problem with the EBay feedback system. The majority of negatives are vindictive 'paybacks' for folks who honestly report their experiences. If I pay quickly and do everything a buyer is required to do, that is what I should receive feedback for. I should not be punished because I did not like the product or was ripped off and reported it as such. The feedback program does serve a purpose though. As a buyer, I tend to shy away from folks who have a bunch of negatives. As a seller I look for indications of non payers etc. If you are unsure of anything, it certainly doesn't hurt to read the feedback's, and make your buy/sell determinations on what it says...not on the numbers themselves. You can tell which are bogus negatives based on a vindictive person versus general bad business practices.

GarryN · Expert Member

I always struggle with negative feedback. I havent given one yet, but I have one guy I have bought two coins from recently. He does not email. No invoice, no acknowledgement of receiving the money. No notice the item was mailed. Its aggravating, but I dont have any serious problems so why leave negative feedback. I mentioned it to him once and he just blew it off.

I had one person who allegedly mailed something and I never received it. Luckily it was only worth $15, but I left no feedback on that. How can I prove it was never mailed? I had no insurance on it so I had to eat that one.