Raw 1795 XF $1,on eBay,would you buy it?

[HaydenTubbs]

 

Link It was holed,the guy's got great feedback(I've bought from him before)

But it makes you wonder,why didn't he send it to ANACS?

I wouldn't touch it with a 10 foot pole

[the_Thing ®]

Ain't no way I would spend that kind of money on a damaged and repaired coin even if the guy had 10000 positive feedbacks, no negatives, and a 110% refund guarentee.

[HaydenTubbs]

Ain't no way I would spend that kind of money on a damaged and repaired coin even if the guy had 10000 positive feedbacks, no negatives, and a 110% refund guarentee.

He's got 8,215 positive feedbacks,so he almost there.He's actually hurting himself,unless some insufficiently_thoughtful_person who doesn't know anything about coins comes across it.

[Techno_mike-migration]

Hayden,

 

I'm with you on this one...I grade this coin a F15 without taking any cleaning or repair into account. I don't know any of the diagnostic elements either regarding authentication or how much the coin would drop to net.

 

Great piece of history though.

[James_OldeTowne]

Although it's the most common 1795 variety, I happen to believe this is an attractive coin - for the price (which is $1000 at the time I linked to it). The hole was repaired by an amateur, and really drags down the eye-appeal. The good news is, you could easily get the coin re-repaired, and it would end up being attractive again. Cost of reparing would be around $60.

 

I think this coin has VF+ detail, and that, if re-repaired ANACS would net-grade it VG-10, or possibly F-12. So if I needed this type, I would pay up to $2500 for it as-is. To me, you'd be getting a tremendous amount of detail for a bargain price.

 

James

[Oldtrader3]

I already wrote a diatribe on the pitfalls of buying raw coins in the "Coin World" dealer post. My experience with raw coins, even from reputable dealers in highly rated collection auctions, has not been good. Plus, these have been dealers that I have bought frequently from over a long time period. These facts did not protect me, probably because despite being a long standing customer, I am a relatively small buyer to these dealers, volume wise.

 

I think that dealer-to-dealer transactions may have much higher accurate grade success ratio than dealer-to-collector. That is unless the collector knows the dealer extremely well, and the dealer respects the collector.

[James_OldeTowne]

One thing to remember here, though, is that the eBay listing lets you "see" the coin pretty well; his images look pretty good, and the problems (holed and plugged) are clearly evident. Also, he's letting bidders set the price. Unencapsulated coins advertised in Coin World are at a set price, and also, you can't see the coin before buying.

 

James

[TomB]

It's got VF details, perhaps VF25 or VF30, but it's been harshly cleaned (perhaps burnished) holed and repaired and looks as though it might have been mounted in a bezel. The eye appeal is negative to me. It's also a B5, the most common variety for the series. I would guess an ANACS grade of VF25 details, net G6.

[HaydenTubbs]

It's got VF details, perhaps VF25 or VF30, but it's been harshly cleaned (perhaps burnished) holed and repaired and looks as though it might have been mounted in a bezel. The eye appeal is negative to me. It's also a B5, the most common variety for the series. I would guess an ANACS grade of VF25 details, net G6.

I would say VF-20 detail,with of course the normal strike.As for the net grading,I'd guess VG8-10.Although one must have to understand that the net grade is only the opinion of the ANACS grader.I often find it humorous(although it is a very dishonest and ill-reputable practice)when a dealer will overgrade a damaged coin and put the net grade at the coin's actual grade as this dealer has.I would feel more comfortable buying a coin that was graded correctly with no net-grade and the problems correctly listed.

Looking throught the sellers inventory he has many other raw coins that are $1-2k coins,while he has coins that are worth less that are slabbed mostly by PCGS.

Makes you thinkhm

[James_OldeTowne]

It's closed, and at under $2200, I don't think this coin was a bad deal. It will make a budget-minded collector very happy!

 

James

[Leothelion]

Considering where the hole was, how did they remake the letter E in Liberty?

 

Leo

[James_OldeTowne]

Leo, I don't know how it is done, but all well-repaired coins have that sort of detail restored. I think there's a process called "chasing" the metal where, after the hole is filled in, the metal at the surface is "pushed" to form an excess area, and the resulting "bump" molded and engraved back to the letter. Fake added mintmarks have also been done this way, so as not to leave a seam.

 

James

[Leothelion]

Leo, I don't know how it is done, but all well-repaired coins have that sort of detail restored. I think there's a process called "chasing" the metal where, after the hole is filled in, the metal at the surface is "pushed" to form an excess area, and the resulting "bump" molded and engraved back to the letter. Fake added mintmarks have also been done this way, so as not to leave a seam.

 

James

 

Thank you James

The E in question looks exactly like the 3 E's on the reverse. I was thinking they might have used an E from a crumier cull coin to plug the hole. This discussion came up while I was in Fort Lauderdale that sometimes they go in from the side with the use a special tool to push up the metal..........and for the life of me, I can't remember who I was talking with about that.

 

Leo