Many hobbyists have become error seekers, forgetting that coins–even scarce or rare varieties–may have flaws that greatly reduce value. These defects are prevalent in raw coin lots in online auctions, eBay and Facebook. Do not bid on any that show these flaws:
Altered Surface
The cheek area of a Morgan dollar is important when assigning a grade. This one had flaws that the owner tried to hide by smoothing the cheek.
Cleaned
This would have been a desired semi key cent had not someone cleaned it (see hairlines) and loss of eye appeal.
Corrosion
While an 1866 Indian Head penny usually is desirable, a scarce date in the series, with 9,826,000 minted, this one is beyond repair and, to be honest, ugly. This is a DO NOT BID coin. Let others waste their hobbyist funds.
Counterfeit
China exports hundreds of thousands of counterfeit U.S. Coins. If you find a rarity, or think you have, you should know the die markers. Go to PCGS CoinFacts or some other directory to find out weight and other measurements. Go here to learn more about detecting counterfeit coins.
Dipping
It is difficult to assess luster and eye appeal with internet photos. This one has the look of an overly dipped coin, removing tarnish (and with that, luster) and deserving of a details “cleaned” grade from NGC or PCSG. You can tell by the overly bright luster with dipping grainy surfaces in the fields.
Environmental Damage
Coins develop spots, verdigris and other flaws from storage or exposure to chemicals and the environment. The damage affects eye appeal. Sometimes restoration may help, but typically the coin will not grade numerically but with a details label.
Fake Color
There are so many of these online, coins that pretend to be naturally toned, but are not. This coin was treated with a sulfur solution to effect the artificial toning. It also has been cleaned, which is what PCGS decided to state on the label. It’s a DO NOT BID coin on Hibid.com.
Pin Scratch
Pin scratches are plentiful on eBay and HiBid. This one has a scratch just above the neck of Lady Liberty. I did not circle the flaw so that you can identify it:
Polished
Polishing coins reduces their worth, typically, to silver or gold melt. This coin is ruined by the process, typically by using a Dremel or other rotary tool.
Wheel Mark
Then there are numerous coins on eBay and HiBid that have been run through a coin counting machine, leaving marks that will not earn a numerical grade at PCGS or NGC. Here’s an example in the left lower field:
Whizzed
Coin doctors try to hide hairlines and other flaws by using a dremel or other tool to remove a thing layer of metal, leaving a dull finish and ruining eye appeal.
There are many more flaws that experienced bidders know, just looking at the photo on the web. You have to become just as skilled so that you do not waste hobbyist dollars on inferior coins.
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You can find more information about types, varieties, errors, grading, bidding and buying in Coin News Updated: The Essential Guide to Online Bidding. Please consider buying or gifting the work for a friend, as it underwrites this hobbyist blog. Thank you.
