Damaged Coins

[usnchiefc]

Hello Daniel, All,

I would like to get everyone's opinion on the following topic concerning the purchase of a damaged coin.

I am familiar enough with coins to realize we ultimately purchase coins for our pleasure so their value is primarily attached to their owner. That said, I have an opportunity to purchase a rare and valuable 1700's U.S. coin which by Numist standards is considered damaged. It has been signed on reverse. I own several Love Tokens in both gold and silver and know how to price them accordingly, but this coin is simply signed (script) with I presume owners name. Questions;

1. Daniel, is my assumption that a damaged coin which will not be graded by 3rd parties automatically assigned the lowest possible value or lower?
2. This coin in problem free condition AG3 would still be worth 1K +, How would you value it so as to not overpay?

Thanks in advance for any information you may be able to share Guys/Gals,
r,
USNCHIEFC

[Daniel]

I can’t give you a value like this without seeing the coin and it’s best to look up auctions for problem coins like it to see what they have sold for.

[Paul]

I can’t give you a value like this without seeing the coin and it’s best to look up auctions for problem coins like it to see what they have sold for.

[JTCC]

I agree.

[usnchiefc]

Hello Daniel, Paul, JTCC,

You have confirmed my research and apologize for my vagueness if I pull the trigger on purchase Ill post a couple pics. I too had also researched comparable problem coins and surprisingly HOLED coins of same type and variety specs were slabbed as genuine by top 3 graders. I did not expect those findings I'll need to revisit my other damaged coins . The ones which sold carried a value around the "AG" scale therefore it provides a baseline of what my offer will be, let's see if she bites!

Thanks again,
r,

[Daniel]

Post mint holed coins will not be graded straight, you need to check a little more. After mint holed coins are damaged coins and worth less.