Damaged coin addiction: please help

[shirohniichan]

I haven't been buying many coins lately, and the ones I have bought have been damaged.

 

I bought corroded lumps of dirty bronze ancients and a cleaned California Jubilee half dollar, and now I'm eyeing a polished silver dollar.

 

Are there any therapists who specialize in treating DCA (Damaged Coin Addiction)?

[TJ]

I hear ya man. I'm going to buy a buncha cr-ap at the Santa Clara show today, then dine with Truthteller. Talk about damaged goods!

[gmarguli]

I bought corroded lumps of dirty bronze ancients and a cleaned California Jubilee half dollar, and now I'm eyeing a polished silver dollar.

 

Actually, you are getting better. This is one step up from the Canadian stuff you're used to buying and ten steps up from the mint packaging that you collected.

[Hoot]

And hey, speaking of the little damaged pieces of dirt that we bought, my olive oil - cheap as sin - has done nothing to mine! I think Margulies dipped them in shellac before he sent them out.

 

Time to go buy some different olive oil and hope it's really cheap. Next step - lemon juice.

 

Hoot

[shirohniichan]

I bought corroded lumps of dirty bronze ancients and a cleaned California Jubilee half dollar, and now I'm eyeing a polished silver dollar.

 

Actually, you are getting better. This is one step up from the Canadian stuff you're used to buying and ten steps up from the mint packaging that you collected.

 

You're cruisin' for a bruisin, buddy.

[gmarguli]

I bought corroded lumps of dirty bronze ancients and a cleaned California Jubilee half dollar, and now I'm eyeing a polished silver dollar.

 

Actually, you are getting better. This is one step up from the Canadian stuff you're used to buying and ten steps up from the mint packaging that you collected.

 

You're cruisin' for a bruisin, buddy.

 

Hey, if I'm walking down the street and get hit with a Loon dollar with a privy mark, I'm coming looking for you.

[gmarguli]

And hey, speaking of the little damaged pieces of dirt that we bought, my olive oil - cheap as sin - has done nothing to mine! I think Margulies dipped them in shellac before he sent them out.

 

Time to go buy some different olive oil and hope it's really cheap. Next step - lemon juice.

 

Hoot

 

That's odd. I was looking at mine yesterday night and thought that they were coming along rather nicely. I noticed several with lots of detail.

 

I'm on my third use of olive oil. I don't know how you did it, but I washed the coins before I put them in the first time. That took a lot of the dirt off them. The first soak in olive oil took off a ton of gunk and the oil was vomit green (I believe that is a Crayola color). The second soak seemed to take a little longer, but it removed a lot of dirt. I used a tooth brush to loosen the dirt on them after this soak and washed them off. They're in the third soak and so far they're looking OK.

[Hoot]

I'll be getting replacement olive oil tonight. I'll give them a scrub before transfer. Right now, the olive oil I soaked them in is as clear as the day I put them in! Cheap crapola I tell you! I bought it at WalMart! And yes, Vomit Green is a Crayola color.

 

Hoot

[shirohniichan]

I WON! I WON!

 

Here is the latest damaged coin for my collection: Heritage Auction 25041, Lot 13406

 

 

Why would I buy a polished and plugged 1876 trade dollar when thousands of nicer ones are out there? Because this one happens to be the rare type II/II-- the Holy Grail of trade dollar variety collectors. This is only the fifth one I've seen for sale in the 6 years I've been looking for them. I didn't want to pay $2,100 for the first AU example I saw, was outbid on two other AU's, and bought the other cleaned AU. This one has AU details but has been abused in the past. There probably is a mint state example out there, but I've never seen one. Though it isn't worth as much as an 1878-CC, it's quite a bit scarcer.

 

I can hardly wait to get it to compare it with my other one under strong magnification. I want to see if there are any differences to suggest there were more than one die pair used to strike them.

[spiny]

You paid 115x greysheet for that?

[shirohniichan]

You paid 115x greysheet for that?

 

Oh no-- I forgot to consult the almighty sheet!

 

I spent about an hour going through all of Heritage's past auctions with photos to see the breakdown in trade dollar varieties offered by them over the past 11 years.

 

There are no images available for those lots sold before 1999, so the sampel only turned out to be for the last 6 years. One other issue was that one lot had only the photo of the obverse (a type I, by the way). Here are the other results:

 

Type I Obv., Type I Rev: 19 coins (29%)

 

Type I Obv., Type II Rev.: 45 coins (68%)

 

Type II Obv., Type II Rev.: 2 coins (3%)

 

The other Type II/II sold back on August 5, 2000. It was "AU details, polished-- Net EF 40".

 

While 1876 II/II trade dollars made up 3% of this sample, I think the actual population is less than 1% of the total.

[gmarguli]

The plugging appears to be a good job. The polishing a bad job. Consider ATing it to hide some of the polish.

[shirohniichan]

The plugging appears to be a good job. The polishing a bad job. Consider ATing it to hide some of the polish.

 

Is that ethical?

 

If the ANACS grader knew trade dollars when he graded it and suspected it of being a proof, it would have been noted on the holder, right?

 

The ironic thing about 1876 type II/II's is that they're not that hard to find in proof, but they are worth more as proofs.

[gmarguli]

Is that ethical?

 

Ethics?

 

 

If the ANACS grader knew trade dollars when he graded it and suspected it of being a proof, it would have been noted on the holder, right?

 

Yes. I haven't seen too many holed proof coins over the years. They're rather rare to find.

[JamminJ]

Yes. I haven't seen too many holed proof coins over the years. They're rather rare to find.

 

An underserved market, perhaps.

 

-JamminJ

[gmarguli]

Yes. I haven't seen too many holed proof coins over the years. They're rather rare to find.

 

An underserved market, perhaps.

 

-JamminJ

 

I would start holing proof coins, but I'm too busy turning a bunch of gem Greek coins into cufflinks.

[Hoot]

Yes. I haven't seen too many holed proof coins over the years. They're rather rare to find.

 

An underserved market, perhaps.

 

-JamminJ

 

Yes. I challenge tradedollarnut to hole a few of his trade dollars, especially the '84 and '85. That would increase their rarity quite a bit. Rare coins like that do not need TPG holders, so selling them should be a snap - shiro waiting in the shadows to pounce.

 

Hoot

[JamminJ]

I would start holing proof coins, but I'm too busy turning a bunch of gem Greek coins into cufflinks.

 

(But probably only to me)

 

-JamminJ