SirDubre Posted February 3, 2022 Share Posted February 3, 2022 Hello, Within the last year or so, I've picked up my Boyhood obsession with coins and started buying NGC Graded coins. I dont buy any coins that arent NGC and I have recently been a little nervous that the "Deals" I thought I was getting are really just going to be biting me in the butt. I've purchase a few coins that are graded by NGC (AU,XF,VF) but they also come with the Details of Whizzed/Rim Damage/Corrosion/Environmental Damage/Improperly Cleaned/Scratches. My Question is, how do these details affect the value of the coins and does the Grade factor in the details or are they even less valuable than the grade is listed? Thanks for all who respond. Link to comment Share on other sites More sharing options...
Alex in PA. Posted February 3, 2022 Share Posted February 3, 2022 Is this a test? Link to comment Share on other sites More sharing options...
SirDubre Posted February 3, 2022 Author Share Posted February 3, 2022 Sorry Alex. Genuine question. I know it's probably a dumb question for more seasoned collectors. Link to comment Share on other sites More sharing options...
Popular Post Just Bob Posted February 3, 2022 Popular Post Share Posted February 3, 2022 Welcome to the forum. Each coin/series should be considered on a case by case basis, since some forms of damage, like a very mild cleaning, are less obtrusive than others, such as whizzing or deep scratches. The more obvious the damage, the more reduction in value one can expect. As a general rule of thumb, though, you can expect the value of a problem coin to drop the equivalent of 2 to 3 letter grades. For example, if the coin is graded XF Details, it would probably bring Fine or Very Good money. The Neophyte Numismatist, JT2 and SirDubre 3 Link to comment Share on other sites More sharing options...
SirDubre Posted February 3, 2022 Author Share Posted February 3, 2022 Thanks Bob. Just to Clarify, if I bought a AU 55 Whizzed coin, it'd be more likely valued (price wise) like a VF or F? Link to comment Share on other sites More sharing options...
Popular Post Coinbuf Posted February 3, 2022 Popular Post Share Posted February 3, 2022 Welcome to the forum and back to the hobby. I always advise against buying problem coins like cleaned and whizzed coins, they are problems now and will forever be problems. They may seem to be a "deal" but that deal may quickly evaporate when it comes time to sell those coins as many (perhaps most) collectors do not want problem coins. It is not just the financial aspect here but the desire and demand for problem coins is not that strong unless those coins are extremely rare or hard to find key dates. tj96, JT2, RonnieR131 and 1 other 4 Link to comment Share on other sites More sharing options...
SirDubre Posted February 3, 2022 Author Share Posted February 3, 2022 Thanks Coinbuf, Some of these that I've collected was to own it for the historical significance with hopes that when I'm dead my kids can make a profit if they dont like them I suppose going forward, when looking for investment pieces, stick to no problem coins. Dang! Thought I was getting some great deals. Link to comment Share on other sites More sharing options...
JKK Posted February 3, 2022 Share Posted February 3, 2022 Bargain for them. Brutally. Take advantage of the thing you can control, which is how much you pay for them. There are degrees of cleaning and damage. RonnieR131 1 Link to comment Share on other sites More sharing options...
Just Bob Posted February 3, 2022 Share Posted February 3, 2022 On 2/3/2022 at 12:20 PM, SirDubre said: Thanks Bob. Just to Clarify, if I bought a AU 55 Whizzed coin, it'd be more likely valued (price wise) like a VF or F? Correct. I should also add that some series fare better when it comes to certain types of damage. A 1793 chain cent that was dug from the ground and labeled "Environmental Damage" would retain much more of its value than an Indian cent with the same type of damage. LIkewise, cleaning coins was acceptable, even sometimes encouraged, in the not-too-distant past. It is not unusual to find Seated Liberty or Barber coins that have been lightly wiped or dipped in jewelry cleaner. Some collectors are a bit more forgiving in these situations, but most people these days want "original surfaces." RonnieR131 1 Link to comment Share on other sites More sharing options...
RonnieR131 Posted February 3, 2022 Share Posted February 3, 2022 Mine have never been returned with a numerical grade. Just AU Whizzed, not AU55 Whizzed, or MS cleaned. The Neophyte Numismatist 1 Link to comment Share on other sites More sharing options...
SirDubre Posted February 3, 2022 Author Share Posted February 3, 2022 On 2/3/2022 at 1:32 PM, ronnie stein said: Mine have never been returned with a numerical grade. Just AU Whizzed, not AU55 Whizzed, or MS cleaned. You're right Ronnie. There is no numerical value. Just the AU/XF etc. Link to comment Share on other sites More sharing options...
SirDubre Posted February 3, 2022 Author Share Posted February 3, 2022 On 2/3/2022 at 1:31 PM, JKK said: Bargain for them. Brutally. Take advantage of the thing you can control, which is how much you pay for them. There are degrees of cleaning and damage. I gotta say, I'm not dropping huge amounts but was still thinking I was getting a great value Paying for an AU with a XF price. More than likely just paying the value of the coin and not really getting a great bargain. Link to comment Share on other sites More sharing options...
RWB Posted February 3, 2022 Share Posted February 3, 2022 Any coin with damage - even on that can be "graded" - is severely discounted on purchase. Such coins do not hold even their depressed value and rarely increase at nearly the rate of undamaged coins. A coin graded "AU damaged" is not worth "EF money" but more like the value of a VF or even F coin. Link to comment Share on other sites More sharing options...
JKK Posted February 3, 2022 Share Posted February 3, 2022 On 2/3/2022 at 10:35 AM, SirDubre said: I gotta say, I'm not dropping huge amounts but was still thinking I was getting a great value Paying for an AU with a XF price. More than likely just paying the value of the coin and not really getting a great bargain. Next time offer an F price and act like you're being asked to swallow a towel before you go halfway between F and VF. Anyone trying to unload stuff that is certified damaged just wants it to go away. Unless, of course, it's a novice collector who's just trying to recover what he overspent, in which case you won't end up buying his mistake--and that's okay too. Link to comment Share on other sites More sharing options...
SirDubre Posted February 3, 2022 Author Share Posted February 3, 2022 (edited) Are there some details that are worse than others? I always assumed Whizzed or Improperly Cleaned was worth less than the value than a Rim damage or environmental damaged coin. Edited February 3, 2022 by SirDubre Link to comment Share on other sites More sharing options...
tj96 Posted February 3, 2022 Share Posted February 3, 2022 On 2/3/2022 at 1:31 PM, SirDubre said: Thanks Coinbuf, Some of these that I've collected was to own it for the historical significance with hopes that when I'm dead my kids can make a profit if they dont like them I suppose going forward, when looking for investment pieces, stick to no problem coins. Dang! Thought I was getting some great deals. Unless you're a professional numismatist or dealer, I would forget about putting the words investment and coins in the same sentence. Coinbuf 1 Link to comment Share on other sites More sharing options...
SirDubre Posted February 3, 2022 Author Share Posted February 3, 2022 On 2/3/2022 at 5:32 PM, tj96 said: Unless you're a professional numismatist or dealer, I would forget about putting the words investment and coins in the same sentence. I getcha. I love the coins for the historical value. Was just hoping, in addition to owning history, I was also leaving something of value to my kids. tj96 1 Link to comment Share on other sites More sharing options...
tj96 Posted February 3, 2022 Share Posted February 3, 2022 On 2/3/2022 at 5:36 PM, SirDubre said: I getcha. I love the coins for the historical value. Was just hoping, in addition to owning history, I was also leaving something of value to my kids. Yes, I'm thinking that's the way most of us think about coin collecting. I guess that would be 100% profit for the kids! Link to comment Share on other sites More sharing options...
tj96 Posted February 4, 2022 Share Posted February 4, 2022 On 2/3/2022 at 5:32 PM, tj96 said: Unless you're a professional numismatist or dealer, I would forget about putting the words investment and coins in the same sentence. However, I had a second thought about coins and investing. If you're working for and getting paid by NGC or one of the TPG'ers and you're "not" a professional numismatist or dealer, I guess you could put investment and coins in the same sentence. You're being paid (and maybe investing some of your salary) as a direct result of the coin market. JAnsley 1 Link to comment Share on other sites More sharing options...
