Question about my coin

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12-17-2015, 10:24 PM
Post: #1
Question about my coin
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Hey guys.. I may have posted this coin in the past but I'm not sure. It's a large cent I dug in a park a couple years ago. It's an 1831 and has a die crack error. This error is actually known and I believe is called the harpooned whale variety.

Do you guys think it's in decent enough condition to be worth anything?? I'm just curious


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12-18-2015, 12:30 AM
Post: #2
RE: Question about my coin
(This post was last modified: 12-18-2015 12:43 AM by Ohio Dirt Fisher.)
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Could be!

Here's a shot of a better grade coin.

If I were you I would post it on http://www.cointalk.com.... You have to subscribe but it's free.
There are a lot of very knowledgeable people who are avid collectors and would love to see it.

Best of luck! Happy

Ed


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12-18-2015, 12:33 PM
Post: #3
RE: Question about my coin
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"Dug" coins are always worth far less than non dug coins of the same yr, mint, cond. etc. Usually it's going to be in the 1/4th to 1/5th range of a non dug coin.

Say you have a dug coin that would normally grade VF (very fine) due to the details of the coin showing strong and very defined but has even wear overall, etc. etc. etc.

In a lot of cases the coin will grade out a grade lower = (net grade "F" = Fine)

and

it will also have the statement/s of "Environmental damage" which could also include "corrosion" or "Porosity" or "Scratched" or a combination of any/all of the above.

Many times it's labeled something like:

VF Details
Net Grade F
Environmental Damage
Scratched

and will have a Red label border to indicate that it's a damaged coin


Look at Dr. Tones out in Iowa? that found the 1901s Key Date Barber 1/4 last yr and sent it in for grading

it came back XF details (extra fine) environmental damage

well - it went from being a $30,000 quarter in XF NOT environmentally damaged to what it ultimately sold for at auction ($6200 and some change) BECAUSE it was dug/environmentally damaged...

That is the difference in "values" on dug VS non dug coins

If your coin books at say $100 in that condition (as for the detail condition) but because it's dug, cleaned, and shows the signs of such then you can expect to realize maybe $20 at most to a collector looking to fill a hole in his coin book for the time being until he can find/afford a better example of that particular coin

There are some slight exceptions to the rule here though

especially when it comes to Gold coins

they will always retain the "Weight in gold value" no matter

example - say you find a gold coin that would grade VF and book at $750 due to weight, cond. yr. mint. etc

lower grade gold (XF, VF, F, VG, G. AG) is attached to/follows the weight value of gold (melt value)

a coin like that in one of those grades selling at that price but dug would still sell at about 90% of the $750 because that's how closely it's attached to the melt value

MichiganRelicHunter, proud to be a digger since 1977
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12-18-2015, 03:14 PM
Post: #4
RE: Question about my coin
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I remember finding a rare dateĀ  1877 Indian Head penny, usual earthly green in XF.
That was back in 1979.
Due to its condition, no one really wanted it. The best offer I got was $5.00.
Had it not been in this dug condition, it would have paid for a new detector.

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12-18-2015, 11:03 PM
Post: #5
RE: Question about my coin
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Good info guys! Bunch of stuff I didn't even know. Good luck with pricing or whatever you'd like to do with it! Awesome coin none the less though! Keep it up

Zachbl92, proud to be a member of Treasure Classifieds Forum and detectorist since Nov 2015.
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12-18-2015, 11:13 PM
Post: #6
RE: Question about my coin
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(12-18-2015 12:33 PM)MichiganRelicHunter Wrote:  "Dug" coins are always worth far less than non dug coins of the same yr, mint, cond. etc. Usually it's going to be in the 1/4th to 1/5th range of a non dug coin.

Say you have a dug coin that would normally grade VF (very fine) due to the details of the coin showing strong and very defined but has even wear overall, etc. etc. etc.

In a lot of cases the coin will grade out a grade lower = (net grade "F" = Fine)

and

it will also have the statement/s of "Environmental damage" which could also include "corrosion" or "Porosity" or "Scratched" or a combination of any/all of the above.

Many times it's labeled something like:

VF Details
Net Grade F
Environmental Damage
Scratched

and will have a Red label border to indicate that it's a damaged coin


Look at Dr. Tones out in Iowa? that found the 1901s Key Date Barber 1/4 last yr and sent it in for grading

it came back XF details (extra fine) environmental damage

well - it went from being a $30,000 quarter in XF NOT environmentally damaged to what it ultimately sold for at auction ($6200 and some change) BECAUSE it was dug/environmentally damaged...

That is the difference in "values" on dug VS non dug coins

If your coin books at say $100 in that condition (as for the detail condition) but because it's dug, cleaned, and shows the signs of such then you can expect to realize maybe $20 at most to a collector looking to fill a hole in his coin book for the time being until he can find/afford a better example of that particular coin

There are some slight exceptions to the rule here though

especially when it comes to Gold coins

they will always retain the "Weight in gold value" no matter

example - say you find a gold coin that would grade VF and book at $750 due to weight, cond. yr. mint. etc

lower grade gold (XF, VF, F, VG, G. AG) is attached to/follows the weight value of gold (melt value)

a coin like that in one of those grades selling at that price but dug would still sell at about 90% of the $750 because that's how closely it's attached to the melt value

Great info, Wayne Yes Dang, you must've been a DAMN good coin dealer!

Ed, never seen that site, I bookmarked it, thanks!

Joe

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12-18-2015, 11:51 PM
Post: #7
RE: Question about my coin
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Still it is a terrific find!
Thanks for the web site Ed

Bigtony, member of Treasure Classifieds Forum since Jan 2015.
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01-05-2016, 05:50 AM
Post: #8
RE: Question about my coin
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i have metal detector but no finds,

I would tell the interesting story and a picture of where found sold with the find to increase and get more for the coin that is dug from the value of the interesting story than a nondug coin, have an interesting story you sign and date and notarize, but you do what you like !

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01-10-2016, 08:39 PM
Post: #9
RE: Question about my coin
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Yes it looks like a nice coin I don't know about value as I didn't look it up. I am sure It wouldn't grade good. I don't know how anyone else looks at value in coin books but I always figure 1/2 of value of what ever grade says it is

Steveo, proud to be a member of Treasure Classifieds Forum since Jun 2013.
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