What kind damage makes coin worthless

[kemokimo-migration]

Going thru penny collection. Some of the coins that otherwise would be in extra fine condition have small scratches or what looks like a black or green coating or patina on them(I assume this is corrosion or a reaction to some kind of chemical). Should I throw them in to the "cash in at bank" pile?

 

 

 

[dleonard-3]

You can try soaking them in acetone. If the green stuff is PVC contamination, it might clean right up. If they aren't worth more than a penny, just cash them in and buy more rolls from the bank to sort through and see if you can find a better one. There are still a few wheatbacks floating around if you're lucky.

[Mr.Mcknowitall]

I read somewhere that one way to solve the problem of what to do with them is to give them to a guy named John Curlis....

 

 

Respectfully,

John Curlis

[AnkurJ]

A long soak in olive oil will help loosen and lift the crud. Or try a product called verdigone.

Acetone will do nothing for these coins unfortunately.

[PerryHall]

Unless it's a better date, it may not be worth the effort and expense to conserve them.

[HCumberdale]

My experience says that there is always someone out there who would be happy with a problem coin - the key factor is the price at which it is being offered. If you offer a semi-key lincoln with the above described damage to me for 25 cents I will happily be a buyer! Obviously 25 cents might be a little low too A common wheatie with extremely heavy damage can always be sold for 2 cents to someone.

 

I have found many new collectors, YNs, or people with a very limited budget are happy to buy/own these type of coins as long as the price is right. I think the trouble is when people try to squeeze every last penny out of them and fleece the customer. Be honest about what the coin is, and you'll surely find a buyer at your local club, or give it away to a YN. I routinely give away my cull and common wheaties to a YN obsessed with them at my local club and you should see his face every time. Much better than giving them back to the bank IMO.

[CoinPulsive PCM]

My experience says that there is always someone out there who would be happy with a problem coin - the key factor is the price at which it is being offered. If you offer a semi-key lincoln with the above described damage to me for 25 cents I will happily be a buyer! Obviously 25 cents might be a little low too A common wheatie with extremely heavy damage can always be sold for 2 cents to someone.

 

I have found many new collectors, YNs, or people with a very limited budget are happy to buy/own these type of coins as long as the price is right. I think the trouble is when people try to squeeze every last penny out of them and fleece the customer. Be honest about what the coin is, and you'll surely find a buyer at your local club, or give it away to a YN. I routinely give away my cull and common wheaties to a YN obsessed with them at my local club and you should see his face every time. Much better than giving them back to the bank IMO.

 

+1.

One of the reasons I don't mind buying coins that are in NGC details holders is because I know a few collectors who like to buy coins for their kid (one has a 10 year old) but he doesn't want to spend $50 on an MS64 Morgan for his son just yet.

IMO many detail graded coins are perfectly fine for any collector. A coin that is graded "UNC details, Improperly cleaned" that has no scratches still should get what the same coin graded MS60 should get.

 

And with RAW problem coins, there is always a buyer, it may take longer to sell it, but someone is bound to want it. I am hoping that is the case with the 1914S Barber half with Fire damage on the rev. IMO damage that alters the coins appearance makes it worthless. If someone polishes a Morga silver dollar that has XF details soo bad that you can signal a plane with it, that to me makes it "worthles" or junk silver. But dipping a penny in Olive Oil to remove surface debris isn't a major "value killer".

 

-Dave

[copper toning]

Placing it on train tracks might make it worthless. Unless the acetone helps.

[kemokimo-migration]

My wheat pennies are in the 1917 to 1942 range. Right or wrong, I've cashed most of the rest in. There is just too many to deal with and have better things to spend my time on. I think what some of you have said is that I could try olive oil or acetone for the ones with the sludge or corrosion. I assume that the olive oil will come off completely with dish soap and water. Some of the scratches I'm only seeing is thru a 10X magnifier. If they're worth keeping, how do I price them?

[newprepper]

You could start by reading my post RED BOOK. and listen to these guys here