A found coin VS a collected coin

[Burdie]

I was wondering what you guys and gals thought on this issue.
Is a coin such as a nickle found in the ground and red in color the same grade as a collectors grade? For example a V nickle that would grade as Fine by a coin book standards be the same as one identical except for the reddish color because it was found in the ground. Can you correctly say the found coin is graded fine? What are your thoughts on this.

Burdie

 

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[Monty]

Birdman, I'm no coin expert but a purist would probably downgrade it because of the color. However there is a class of collectors out there now that specialize in stained or dug coins and I don't know how they grade a coin. I know that they downgrade it if it's been cleaned. So you may be talking apples and oranges? Monty

 

[hollowpointred]

i always thought that stained coins like nickels would be called "corroded" or "damaged". im no coin grading expert though.

 

[mountainman 2]

There is a notation in the 2005 redbook that states that damaged coins such as those that are bent, corroded,scratched,holed,nicked,stained,or mutilated are worth less than those without defects.So a stained coin is considered damaged.MM2

 

[Blackjack77]

Don't the grading services use microscopes to grade coins?
I would imagine a dug coin will show minute scratches from
contact with sand,dirt,etc.
Up North,the freeze thaw cycle must mar them too.

 

[bazinga]

I can't imagine anyone actually paying anything for a red nickel. Green indian heads are the same way. They are virtually worthless compared to a copper colored one. The only coins with any real value that we dig are the silver coins.

 

[Siegfried Schlagrule]

I maintain (as in trying to complete) a complete set of US coins and all are dug or damaged. A normal collector will upgrade his collection. I downgrade mine constantly. All I require is a readable date and mintmark. In some sets I have all the keys and only need the common ones. I have never been able to sell any dug nickel for more than good price. That includes those beautiful black AU and XF buffalos. You'll see them for sale on ebay as dark buffalos and they rarely draw much. The bright red shield nickels have no market also. A purist says that there are no uncirculated coins except those in mint sets. The more reasonable folks will go by the MS-1 to MS-70 grades found in the grading guides. If you go by the photograde examples you would need to mention that a coin is dark or dirty or you would risk folks asking for a refund and filing complaints. exanimo, ss

 

[pennyfarmer]

I once found a 1913 s type 2 buffalo nickle. Now the best offer I had to purchase this coin was $75 dollars. I sent it to have it graded by pcgs and they graded it as a VF 30 with "enviromental damage". This coin brought my $195 on ebay. So I would not say that dug nickles are worthless. They are worth less but not worthless. This was about 5 years ago so i am not sure what the price on that coin is today but I would still say $195 for a dug nickle is not too shabby.

 

[Postalrevnant]

Great post Burdie. Good info guys thanks.

Rev

 

[bazinga]

I once found a 1913 s type 2 buffalo nickle. Now the best offer I had to purchase this coin was $75 dollars. I sent it to have it graded by pcgs and they graded it as a VF 30 with "enviromental damage". This coin brought my $195 on ebay. So I would not say that dug nickles are worthless. They are worth less but not worthless. This was about 5 years ago so i am not sure what the price on that coin is today but I would still say $195 for a dug nickle is not too shabby.

Key date examples can be an exception. But the more common coins won't fetch much of anything at all.

 

[Monty]

There was recently a full page ad in my hometown newspaper from a "Coin Buyer" who was in town for a weekend only. It specifically stated they wanted dug coins but they could not be cleaned. That's where I was coming from in my previous post. Monty