Valuation vs Cost

[Grumps]

I recently acquired an 1893 Columbian Exposition Half Dollar Proof. I'm not sure what to do with it. I know based on rarity that there were only 100 of them made, but I can't seem to find out how much it is actually worth. I just joined the CCS club today and was putting together some coins for submission for grading. I was considered this coin, but it has some brown toned staining around the edges of the coin and even a few small nicks in the field. I don't think it would grade very well at this point. It would probably be a beautiful coin and might even grade well if it were cleaned up, but I don't have anything to reference whether it is worth the trouble or not. I've resisted the temptation to dip it. I've read about the NCS submission prices and I don't want to invest a small fortune in the coin if it doesn't have some value (I didn't pay that much for this one), but I can't verify that it does have any value. As a matter of fact, other than one other coin that was certifiied on NGC's website as PF63, I can hardly prove the coin exists. Since costs are based on FMV can you give an estimate of what it will cost to evaluate and restore the coin before submitting it? If I sent it in now according to the NCS pricing, I would be paying minimum pricing. It would be my luck that I would send it in and it would be assessed at a very high FMV (which would be great) but I'm not prepared to pay at this time. All in all, I'm not sure what to do with it. It would be pretty neat to get it cleaned up and certified if it graded out higher than the other coin at NGC. I've never had a TOP POP before.

 

Thanks for your help.

Greg

[CHRISS]

It would appear that you have realized a problem that many people find when deciding if a coin should be sent to NCS for professional conservation. If this is a coin for your collection, I would suggest thinking about the matter more in terms of the piece and less in terms of the cost. You mention a debate over whether this coin is a proof issue. The Columbian 50c is known to exist in Proof Like and not actually Proof. It may be worth your effort--and expense--to submit your coin simply to find this out. From your descriptions of the coin, it would sound as though your coin would be a good candidate for conservation and doing any work yourself could very risky. Your resisting of the urge to dip the piece is a good thing.

 

If you are unsure of the declared value when completing your NCS submission form and the insurance through the post office, I would suggest valuing the coin in the higher amount and noting in the "notes" section of our new submission form that if the piece is not what you are hoping it is, to change the value down. This way you will be charged fees for what the coin more accurately is. If you have any further specific questions, feel free to contact NCS directly at 866-627-2646 or ncshelp@ncscoin.com.

 

Chris, NCS

[Grumps]

Thanks Chris! You've actually given me more information than I've been able to find by telling me that it's "Proof like" rather than proof. I'm actually getting suspicious of the coin now. The more I look at it, the more I think it isn't authentic. The surface of the coin is not particularly smooth (like it's been circulated or something) and gives me the feeling that someone took a regular commemorative half and did some kind of plating process or something to give it a proof appearance. If that's the case, I've already got too much money into it. I get the feeling if I sent it in, it would probably come back in a body bag, but then again if it is authentic with only 100 of them being made, there's no telling how much it's worth either. I guess I'll keep looking at it until I decide to sucker myself into spending what will probably be more wasted money on it.

[CHRISS]

It seems as though exactly what is going on with your coin is becoming even more mysterious. I can suggest sending your coin in for simply NCS Details Grading. This way you will find out exactly what is going on with the coin and still have it encapsulated in a hermetically sealed holder the same size as that of NGC.

 

Chris, NCS