The following post is pulled from Coin World editor Steve
Roach’s Market Analysis column in the Sept. 29 issue.
An oft-repeated adage in collecting is to “buy the best coin you can
afford.” To many, this modus operandi excludes problem coins.
Among the most stigmatized problem coins in the marketplace are
coins that have been holed and subsequently plugged.
a collector who is willing to overlook the flaws of a problem coin can
get a coin with substantially more detail for the same amount of
Alternately, one can buy a rarity that he or she
otherwise could not afford.
Coin World is
profiling three holed and plugged coins sold at Heritage’s recent Long Beach
Expo auctions, Sept. 4 to 6. Here’s one:
coin: 1797 Liberty Cap half cent, Fine Details, Holed and
The price: $367.78
story: To some collectors, a plugged coin is charming, as it gives
a coin a story.
This 1797 Liberty Cap half cent is
graded Fine Details, Plugged, by Numismatic Guaranty Corp. Little effort was made
to make the plug deceptive.
Perhaps it has been
exacerbated over time, but even the two copper colors are different
with the plug being shades lighter than the host half cent. Further,
the details are not re-engraved over the plug.
the lack of obvious deception in the repair is what makes this coin
A comparably detailed half cent of the same
common variety graded Fine 15 by PCGS sold for $1,410 at an Aug. 5
Heritage auction. So, in this case the hole and plug took off around
75 percent of the value from the coin.
Read the rest of Steve Roach's Sept. 29 Market Analysis:
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