Hi everyone!
While I was pulling up the images for my last post, I came across this beautiful coin I purchased some years ago. An 1836 Capped Bust Liberty US half dollar coin in absolutely stunning condition! Just take a look at it an you will understand! It was an ungraded coin so I asked the seller if the coin had been cleaned and was assured that it was an uncleaned specimen or my money back guaranteed. Needless to say it was too nice a coin to pass up.
Unfortunately I didn't keep the reverse image on this particular coin because I no longer have it. It was equally beautiful and problem free at first sight.
Some information about the coin:
Denomination: 50 cents US
Mintage: 6,545,000 (reeded edge variety had only 1200)
Silver: 89.2%
Design: Robert Scot
Diameter: 32.5 mm
Weight: 13.48 grams
When I received the coin I was ecstatic! After admiring it for a couple of days the next thing I did was send it off to PCGS for grading. To my horror upon return from PCGS it came back with the dreaded grade of: Cleaned. A cleaned coin dramatically reduces its value to collectors. I was less than happy shall we say. I'm not sure how they cleaned it because I couldn't see any clear evidence of cleaning. Nor do I have any idea of when it was cleaned or by whom. The problem I now had was the following: Do I keep the coin because I spent the money to grade, ship, and insure it, or do I return it even though I had invested the extra money into the coin already. After checking the price charts I realized I was going to take a loss because of the cleaning. In the end it was a no brainer. I contacted the seller and they stood by their guarantee and refunded my money. I did however take an overall loss because of the extra invested funds.
After this bad experience I now am only willing to purchase graded older coins. Older to me being coins produced prior to Morgan dollars, 1878 and earlier. Being burned once was enough to teach me the lesson. Even the best looking older coin may have been cleaned and it isn't always possible to see it unless you are a trained coin grading expert. So my advice to coin enthusiasts everywhere is stick to graded when it comes to older coins unless of course you are one of the trained grading experts.
Please remember that coin collecting and investing in silver and gold can be a very fun hobby. However, it's not for everyone. I'm not a financial advisor so please don't take this a investment advice, always do your own thorough research. And enjoy the journey!
Thanks for taking the time to read my post! Happy Sunday!
