4 Tiny Details That Can Make Collectors Pass on ‘Valuable’ Coins
Written by
Nicholas Morine
Edited by
Zuri Anderson
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In the world of coin collecting, the difference between a coin worth several thousand dollars and one which could be worth next to nothing could come down to seemingly small details.
So what sorts of details could cause the value of an otherwise expensive coin to plummet? Let’s take a look.
Cleaning Coins Could Severely Damage Their Value
Numismatic (the fancy name attached to those who study or collect forms of currency) enthusiasts often get their high-value coins graded by a reputable service, such as Professional Coin Grading Service (PCGS) or Numismatic Guaranty Company (NGC).
And the No. 1 thing that all veterans in the hobby caution newcomers against? Cleaning your coins, whether by physical means — scrubbing with a wire brush, for example — or via chemical bath can severely reduce the value.
While both PCGS and NGC state that dipping a coin in a chemical bath lightly may not reduce the grade, the practice remains best left to the judgment of professionals. Better to err on the side of caution, here, and leave the coin as-is.
Filed Rims and Scratches Can Make a Valuable Coin Nearly Worthless
It’s not just the cleaning that could cost you a pretty penny in terms of a coin’s value. Should a seemingly valuable coin show evidence of filed rims — a practice often employed to try and even out dings or bumps in a coin’s edge — that example could be refused a proper grade from grading services.
Scratches are less about intention, but also can render a coin unable to be graded. Older, naturally toned scratches with an unobtrusive placement may not be as much of a problem as opposed to, say, newer and brighter scratches over a more desirable feature.
No grade equals a very notable reduction in rare or expensive coin’s value.
Artificial or Questionable Toning May Turn a Promising Coin Into a Curiosity
Toning refers to the natural tarnishing of a coin, whether silver, gold, copper or an alloy. When toning occurs naturally over time, it can either enhance or detract from the visual appeal of any particular example.
However, some coin enthusiasts (or mad scientists, whichever you might prefer) aren’t patient enough to wait, using a variety of methods to artificially “tone” a coin. In many instances, this rapid form of toning can cause all sorts of strange colors — often, almost like an oil slick, a kaleidoscope of hues — to appear on the coin’s surface.
That’s a big no-no, according to PCGS. While artificial toning might attract attention, when a coin is truly rare or valuable this practice will do nothing but crater the price. Artificially toned coins are also ineligibile for grading.
The bottom line? If you think you have a valuable coin, leave it alone. Have your local coin shop give you an appraisal, and send it in for professional grading if its value soars into the four-figure or higher range.
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