Does anyone out there collect cleaned coins?

[pendragon1998]

The other day I was wondering this: is there a market out there for cleaned coins? It seems like there would be, although it's probably small. I'm not speaking of collectors who are new and don't know the difference. I'm talking about people who know that a coin is cleaned, but don't really care and take advantage of the lower prices to obtain coins in otherwise unaffordable net grades. Anyone out there ever encountered (or are) one?

[HaydenTubbs]

Yes.

 

Take bust halves for example,there would not be much of a market for bust halves if all people ever bought were strictly original pieces.

[MikeInFL]

Yes there are markets for cleaned coins. There are many people who would accept even a harshly cleaned coin for their collection, much less the plethora that would be happy to own a dipped coin....

 

For instance, many large cents have been cleaned and recolored. If it is a rare variety and/or a rare date this is often overlooked by variety collectors.

 

The same can be said for many other areas of variety collecting (or key dates) where cleaned coins are often the only ones available for the very rare ones, so collectors will often take what they can get (and/or afford).

 

Another example are proofs. A large percentage of proofs from the 19th and early 20th century have hairlines from being wiped/cleaned in days gone by, and even many in high grade holders.

 

A last example is a dipped coin. While some would argue that this is not cleaning, the fact remains that the coin has lost part of its surface and been intentionally brightened. These coins are, in many cases, prefered over their more natural and darker bretheren, and are anything but lacking in a market...Mike

[Mozin]

Yes.

 

Take bust halves for example,there would not be much of a market for bust halves if all people ever bought were strictly original pieces.

I disagree. Most serious Bust Half collectors avoid obviously cleaned coins unless they are at least R4s. So long as the major grading services accept them for grading, lightly cleaned and retoning Busties are pretty much the norm. Strictly original Busties command high premiums.

[James_OldeTowne]

Oh yes I have, quite a few in fact. Indeed, although I love and enjoy original coins, I think that the number of collectors who prefer the bright, shiny look is quite understimated.

 

I've told the story before of the time a guy shopping my inventory explained that he was lacking only two dates to complete his Redbook set. Excitedly, I asked if I could see his collection, and you can't imagine my stunned disbelief when he opened up his Dansco albums to reveal coins that were 100% all cleaned and polished to a prooflike appearance. I have never since seen anything like it. With total disregard for grade (some were G/VG, up through EF or so in details), this fellow polished his coins to an highly glossy DMPL sheen.

 

I have also on numerous occasions seen Lincoln sets where every single coin was cleaned at one time. The number of people out there who simply want cleaned coins is not something to be taken lightly! I do not fault such collectors, but I will not sell coins to them knowingly.

 

James

[pendragon1998]

Geeze, James. What did you say to the guy?

[TomB]

There are two issues I will buy even if obviously cleaned. Other than that, I pass, but I know that most folks have different standards.

[EZ_E]

There are two issues I will buy even if obviously cleaned. Other than that, I pass, but I know that most folks have different standards.

 

 

.......................and......

 

You can't just leave us hanging like that, Tom.

[TomB]

[Frank Provasek]

Most of the early US coins in National Collection, housed at the Smithsonian Institution, have been cleaned many times by the curators.

[James_OldeTowne]

Most of the early US coins in National Collection, housed at the Smithsonian Institution, have been cleaned many times by the curators.

 

Have they been actually cleaned, or just conserved? Having not yet had the privilege of seeing the collection, I wouldn't know.

 

Geeze, James. What did you say to the guy?

 

Regarding the guy who polished up his set of gleaming bust halves, there really wasn't anything I could say. I actually had a couple of coins he was interested in (mine were original AUs), but I didn't budge on the price, and kindly informed him that he'd probably get a better deal elsewhere.

 

There are some who, no matter what you say, are going to prefer their coins to be consistently gleaming, brilliant, polished white (or pink for copper). While I personally can't stand that, I'm certainly not a judge and jury to pass judgement on how others collect. I can only do my part by trying to educate, and by not selling a coin to someone whom I suspect will clean it.

 

James

[TomB]

Sorry, Victor, I didn't mean to leave you hanging on that one for so long. The two coins I would buy if obviously cleaned would be 1802 Draped Bust halves in G4 or above and 1904-S Barber halves in F12 or above.

[EZ_E]

Sorry, Victor, I didn't mean to leave you hanging on that one for so long. The two coins I would buy if obviously cleaned would be 1802 Draped Bust halves in G4 or above and 1904-S Barber halves in F12 or above.

 

What is your reasoning? They are that scarce?

[Oldtrader3]

Many collectors seem to own net-graded NCS or ANACS (cleaned) slabbed coins. The Jules Reiver collection which was recently auctioned by Heritage contained many NCS graded coins. I own (3) NCS net-graded coins myself.

[shirohniichan]

The only time I specifically look for cleaned or problem coins is when I buy them for framed displays. Why spend $400 on a coin when you can get one cleaned with the same details for less than 1/4th the price (especially if someone could break into the house and easily steal them)?

 

I will buy rare varieties that are cleaned, but that's generally because that's the only way I can find them. If I can find an uncleaned coin at a higher price, I'd go with the one that hasn't been messed with and pay the premium.

 

I even bought an 1876 II/II trade dollar that was holed (subsequently repaired) and polished!

 

BTW, when I inquired about buying cleaned coins at a discount, I was accused of being a coin doctor.

 

There are those who take even harshly cleaned coins and retone and otherwise work on them to appear "original."

[TJ'S Coins]

Not intentionally. I prefer original coins but anymore it seems that they are very rare.

 

A couple of years ago I took an 1822 CBH to a coin show and had it looked at by a TPG grader offering free opinions. He remarked how dirty it was and said that I should attend a certain national show that came to town six months down the road. They had much prettier coins. Thinking back on it, the coin I showed him was obviously uncleaned as he acknowledged. Yet, he was encouraging me to purchase dipped, dipped and retoned, or whatever the latest name du jour is for "conserved" coinage. It all goes back to market acceptability, profit and whatever else you want to call it. It's enough to drive a collector

[World Colonial]

I do not buy US coins anymore but I only buy strictly original coins if I can help it. (I cannot always tell the difference as demonstrated by the coins NGC has rejected.) For the series I collect, there is a large price difference between slabbed and raw coins and this has to be at least part of the reason. Regardless of what someone collects though, I would not recommend buying cleaned (or otherwise mishandled or impaired) coins if you have a lot of money tied up in your collection. That is, unless you do not care about future resale.