It was graded "Poor" (grade 1) by PCGS - the lowest possible grade. Normally coins are priced higher for higher grades from poor up to brilliant uncirculated and proof. The odd valuation on this one is discussed in some Reddit comments: "Because it’s rad! Full of character - wholesome, as they say - it took years of honest wear for this coin to get this way, and for it to return so near to its original unstruck planchet, while still being recognizable as this exact year’s issue - is kind of special, rich in history." "It doesn’t have the dings of being in commerce to me though. People will carry a coin special to them in their pocket every day and I’ve only seen a coin look that smooth from them doing that. And it takes a long time." "Think how rare it is for a coin to get just that amount of worn without also getting damaged...scratched, cleaned, environmental issues, rim dings."
I have numerous similar-quality Indian Head pennies, buffalo nickels, and Barber dimes, but sadly the same valuation criteria don't tend to apply.
There are collectors of damaged coins - off center punched, edges missed, etc.
ReplyDeleteThere aren't many old coins in circulation any more to be collected. Especially ones with any silver content.
ReplyDelete