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How I theoretically made $1200 buying a raw coin on eBay.

Started by James_OldeTowne,

6 posts in this topic

James_OldeTowne

James_OldeTowne

Posted
Posted

A few months ago, I bought a 1924-D SLQ on eBay at a closing price of about $250. It was advertised as "unc, fh". I bought it because, despite a tiny image, the shield appeared to be unusually well struck (for a 1924-D).

 

When I received the coin, my initial reaction was "darn, it's cleaned". It has flat luster on the obverse, though the reverse is nicely cartwheeled, but no signs of hairlines. Just really flat obverse luster! However, the strike is fantastic (again, for a 1924-D) - STRONG full-head and a 95% full-shield. It is an unusually mark-free coin, virtually without blemish. I was estimating a grade of MS-61 FH.

 

I got ANACS Mike Faraone's opinion at the St. Louis show, and he called it "MS-62 plus", and also felt the obverse has been very lightly cleaned. But he did opine a better-than-50% chance of it getting certified with a non-net-grade. So I sent it in.

 

The results are shown below, and this coin is already SOLD. The reason I decided to use ANACS is because I often take advantage of their free opinions, and feel it's only right to put some business their way once in a while. I used their express service, and had the coin back in nine days. Excellent service!

 

I seldom buy on eBay, but it looks like you CAN still find good coins occasionally.

 

junk1.jpgjunk2.jpg

junk3.jpgjunk4.jpg

 

James

 

PS Sorry for using scanned images, but my camera is still shot.

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Elcontador

Elcontador

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Posted

James,

 

That is VERY well struck for a 24 D. The missing rivulets on the shield are the standard ones that are missing, often on MS 66 & on some MS 67 SLQs. The head detail is good for a 24 D, and I like the detail on Miss Liberty's right leg and thigh.

 

As for the coin being lightly cleaned, I won't venture a guess from an image, but if the luster is dull, I'd tend to think so as a matter of first impression. Why do people clean coins like this one?

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