Expert: Dmitry Livshits - 8/24/2009

Question
QUESTION: I have several coins, left to me by an ancestor many years ago, that I am looking to sell. Do you have any advice on the grade/condition and/or value of these? Thank you!!

http://i99.photobucket.com/albums/l304/robinator_pics/1804DrapedBustHalfCentCros

http://i99.photobucket.com/albums/l304/robinator_pics/1806DrapedBustHalfCentSmal

http://i99.photobucket.com/albums/l304/robinator_pics/1833ClassicHeadHalfCentAU-

http://i99.photobucket.com/albums/l304/robinator_pics/1851BraidedHairHalfCentVF-

http://i99.photobucket.com/albums/l304/robinator_pics/1857FlyingEagleCentVG-8tof

http://i99.photobucket.com/albums/l304/robinator_pics/1872IndianHeadCentAG-3toG-

http://i99.photobucket.com/albums/l304/robinator_pics/1909LincolnCentWheatPennyE

http://i99.photobucket.com/albums/l304/robinator_pics/1916SMeercuryDimeF-12toVF-

http://i99.photobucket.com/albums/l304/robinator_pics/1921MercuryDimeF-12toVF-20

ANSWER: Hi,
This is a nice little group you have. The following are auction prices. I'm an eBay coin dealer, so I'll give you the practical market values for these.

The first coin, the 1804 1/2 cent is the stemless variety with XF to AU details, however it has been cleaned by rubbing with a cloth, which will decrease the value by 25%-30%. This coin should sell in the $150-$200 range.
The same story is also true for the 1833 half cent, which would sell around $100 or less due to being harshly rubbed.

The 1806 half cent appears to have original surfaces, but it's tough to tell from the photo if the coin has a weak strike or actual wear. If the latter, the coin will be $200+, if the former, $100-$150.

The 1851 has gVF details, but due to scratches on both sides it would sell for $30-$40.

The 1857 Flying Eagle cent would sell for $15-$25. The surface is a bit rough, which is common for these coins. Otherwise a solid VG.

The Poor-AG 1872 Indian will go for $30-$50.

The 1909 VDB has an unfortunate book value quirk, where the listed price ranges from $10 in G to $11 in AU. Your coin is a nice example, so maybe $15 for this one.

The 1916-S dime is $5-$8 and the 1921 is $20-$30 due to the rough condition.

Thanks for the question! =)



---------- FOLLOW-UP ----------

QUESTION: I'm sorry but I am a bit confused because the prices that I found in a coin pricing magazine (purchassed this weekend) were much higher in some instances.

For example, the 1804 Draped Bust Half Cent at an AU grading was listed at $500-$1350.  Even with the 30% decrease that you quote due to harsh cleaning, that still puts the cooin at a worth of at least $350.

Would you mind if I give you a listing of what grades I judged each of these to be, based on the magazine that I bought, and you tell me if I am correct?

1804 Draped Bust Half Cent Crosslet 4 Stemless (AU55 +)
1806 Draped Bust Half Cent (VF-20 to VF-30)
1833 Classic Head Half Cent (AU55 +)
1851 Braided Hair Half Cent (VF-20 to VF-30)
1857 Flying Eagle Cent (VG-8 to F-12)
1872 Indian Head Cent (AG-3 to V-4)
1909 VDB Lincoln Cent Wheat Penny (EF-45 to AU-50)
1916S Mercury Dime (F-12 to VF-20)
1921 Mercury Dime (F-12 to VF-20)

Thank you soooo much!

Answer
Your grading appears accurate, though some of the more valuable coins have condition issues beyond wear. If you got the prices from a magazine they are likely for certified coins, professionally graded and slabbed by one of the 3 big companies (NGC, PCGS, ANACS). These companies do not grade coins that have been cleaned, or that have scratches. In the best case they will certify them genuine without a grade, or give a "details" grade for a cleaned coin. In the worst case they will be returned as ungradeable.
Like I mentioned, the prices I'm giving you are based on what these coins typically sell for at eBay auction, starting at a minimal bid. A dealer will likely charge more as a straight sale, but it's much more difficult to sell that way and dealers usually turn to eBay anyway.
One thing to note is that cleaning, especially by rubbing where there are visible scratch lines on the surface, does detrimental damage to the value of a coin. The 25%-30% below value estimate is quite conservative, and refers to dealer prices. At auction they sell well below value, since there are plenty of original examples on the market.
The only time a coin will get close to original value with issues such as this is when a coin is exceptionally rare or difficult to find in original condition.
Thanks again! =)