Author |
Replies: 10 / Views: 672 |
|
New Member
United States
15 Posts |
I've acquired this Italian Lira that is of a high grade but on the obverse there is a cut which at an angle does not penetrate the obverse. I am trying to cull a fair amount of coins for my first grading submission and would like to know if this coin is worth grading for re-sale or if it is likely better suited to be sold as-is. I assume if it potentially will not receive a grade, sending it in would be somewhat fruitless. Would I be mostly correct in my way of thought and if so, how does the market react to this type of damage on an a "rare" coin.? Also, this cut would have occurred over 60 years ago, any specific reason for it aside from possibly checking for silver content? Something tells me that wasn't the reason for it. 
|
|
Bedrock of the Community
 United States
94367 Posts |
Hard to say for sure.  to the CCF!
|
Pillar of the Community
 United States
1761 Posts |
the cut is not severe damage. it might grade as a 'details' coin, but I am certainly no expert. i have seen a fair amount of these 1L pieces. what makes this one 'rare' ? with the cost of slabbing, selling as-is might be the better choice. it seems like a nice piece for a type set to keep the cost down, which the cut surely will.
|
Bedrock of the Community
United States
54903 Posts |
I wouldn't get it slabbed. Sell it as is raw. It will get the details grade.
Errers and Varietys.
|
New Member
 United States
15 Posts |
Thanks for the replies and of course the welcome  . "i have seen a fair amount of these 1L pieces. what makes this one 'rare' ?" I had a hunch there would be a question as to my use of the word ^rare^. Though a relative term, I am going off of what a couple others have used as an adjective in their listings about a coin from the Turin/Torino/ect mint that went defunct in 1870. I suppose you might be able to point me to sales or listing data for a similar 1L from this mint in similar or superior condition considering your dabblings. tyia 
|
Valued Member
Italy
199 Posts |
How's the edge? Does it have the FERT incision? I would have to concur this is not a rare coin. It's listed as common in the Italian guides. See: https://numismatica-italiana.lamone...eta/W-VE2/10Unfortunately it was cleaned and it has that scratch so I also think it will get "detailed" by TPG. Regardless, wonderful coin to have in one's collection!  thanks for showing! 
|
New Member
 United States
15 Posts |
Ah thank you Joe.This is the first time laying eyes on the site you provided. I'll say one of the multiple photos looks to be in reasonably comparable in condition, cut aside. I'll let you run with what ever the thoughts you have about it being cleaned but as a early retired Certified Appraiser, the honing in on nomenclature is reminiscent of the forums I'd spend time in prior to walking away to greener pastures far away from that world of pot stirrers. Now ring that school bell if I need to take a seat because I am on the ground floor, still leering the basics, such as lets say the definition of what "rare" is when it comes to numismatics. Because from my experience in other fields, rare is a relative term and does not necessarily equal greater value. Since things seem a little nit picky (but to a much lesser degree ) I would rely on lets say grade populations to inject the word as an adjective. The T 1L was produced at only about 1/10th the ratre that Milan pumped them out, as per that sites numbers. Thats a good start for applicability of the word rare imo. just saying. Now say I dig into NGC population numbers which I did not to feel comfortable freely using the word rare, they show only 6 coins in population around the same condition.. Now given those numbers, I suppose you could understand why I have no idea why anyone would be bumbling around in their mind why I just happened to use it. Its not a big deal. What are big deals are my valuable rare coins, not the value range the 1L could fall into. See having spent a few decades pawing through data in one niche, I never learned enough about coins (and tokens my main interest) before I started selling what I typically buy in bulk 10 lbs at a time or so,, that now that I am finally diving in and injecting my late father's collection into the mix, I had a few Sam Kinnison moments having recently learned that having only known the Red Book, I had no idea what varieties command and surely have sold many as a hobby for pennies on the dollar and I vow absolutely leave no stone unturned to never do that again. So I used "rare" just so it might trigger additional thought if the cut had significance. This coin is from my great great aunt's collection. She is the wife of man who invented and began selling a household product everyone uses, so some cool coins have trickled into my couple hundred pounds of partly sorted piles. I'm not trying to bloviate, I'm reminded of when I took a family sapphire to two Jewlers in town and they said Topaz, worthless. Then when I had to learn analyzing stones with refraction and build a portable unit to shove these small town Jewlers faces in as bine incompetent as an east coaster living in middle America Podunk now. Then I went to gemologist sites to come to terms if I needed to get it cut or polished before bringing it to market and I got berated by Jewers telling me I'm Nover going to be able to sell it on my own, its trash, ect because I showed them the worst possible photo I could take so my question would properly be answered but they couldn't stay in their lane and advise me, they had to veer off course and then silent, when I showed the natural light photo and hex structure while viewing with refraction oil. I am saying all this because I have a bone to pick with Vee Vee or whoever the CS service head at Stack's and Bowers is because she or he has come across as insulting while not making the slightest effort to check in as I wait for her "expert" to decide if they will consign the 10k to potentially 30k+ "rare" coin in an annual auction.. 6 weeks +/- with no reply other than a "be patient" when I pinged her a polite email after 1 week passed. Tusla office was a delight. West Coast main office interaction lacks professionalism and seems to not want to do business at any point in time. I say this because the either misjudged me or my coin. Regarding how I may throw around the word rare, here is another rarity imo.. Although a lower grade, I believe my coin accounts for the 2nd one known or soon to be known to exist. I also have a low grade 1876 DDR 104 I think or 401. that I've seen quite a bit of bickering about after NGC dropped it as a variety and it seemed others circled the wagon as the other being counterfeit, but I still need to make sure I am spot on.  1858 FS-901 Rev Die Clash w/ Rev of FE 1C Not ultra valuable, yet still rare. Extremely rare. Aside from the eagle head clashed under the wing, it is very faint above the eagles left shoulder but at the moment I don't want to hassle with lighting to capture it. Any clash over the R shoulder has disappeared over the years of circulation. And while I'm bringing this rare coin out of the shadows, I took the liberty of opining about my sentiment with that otherwise very reputable company in hopes someone a notch or two higher may catch a glimpse of this and correct how things have been handled to this point So yea, lmk if I'm missing a definition for rare Jpe, and in all honesty I dot my i's and cross my t's but I fully expect to be wrong, ignorant and thankful of others for sharing their knowledge, like the resource site you did in your reply and anything you're willing to hellp me with understanding in the future. 
|
Valued Member
Italy
199 Posts |
Good morning b2v, I don't think there is any debate that the 1863-T 1L STEMMA coin is rarer than the 1863-M 1L STEMMA coin, being that it has a 1/10 mintage figure. Also, it is true that -- let's generalise a bit and maybe exclude the modern mass produced ones -- any coin at its highest conservation will be rare compared to its low conservation counterparts. As we all know, it boils down to conservation, initial mintage and survivability. The website I posted above is maintained by collectors, so here's the official " Red Book" of Italian coins: https://catalogogigante.it/monete-i...8-2&cnu=1186In this catalog, which is the official one, it is considered "NC" which is a grade above "C". I'll also add a table of them for reference. Quote: CC = comunissima (very common) C = comune (common) NC = non comune (not common) R = rara (rare) R2 = molto rara R3 = rarissima R4 = estremamente rara R5 = pochi esemplari U = unica (unique)
You need to be logged in to see prices but I looked up some for you from some recent 2023-24 auctions (you need to do +20%):  SPL -- 160 EUR  MS63 -- 420 EUR  FDC -- 500 EUR As you can see these are not prices which you would commonly see for rare coins, they miss one or two zeros. By the way, I wouldn't trust much the census reports of NGC/PCGS for italian coins. The average italian collector dislike American TPGs and most of the italian coins are either raw or graded by officially registered "experts" which place the coins inside sealed flips (called "perizie"). Concluding, I feel that a "rare" coin is a coin which you can't easily acquire. If I wanted to buy a 1863-T 1L STEMMA in FDC condition now, I could probably do it before lunch. On the other hand, if I wanted to buy a 1861 5L (unification) in FDC it won't be as easy being it is a rare coin. This obviously doesn't detract anything from your coin but since we are talking about the meaning of "rare".. Ah, please don't think I am in any way an expert on italian coins or in general  You could post your coin on an Italian forum (the main one is linked from the link I posted some days ago, they also have an english section) and ask for the condition/rarity. People there will be way more authoritative than me on the subject! Hope this helps! 
Edited by joe_77 12/07/2024 03:49 am
|
New Member
 United States
15 Posts |
That helps immensely regarding price, that I would need to have an account and yoiur definition of rare makes complete sense and will be something I reflect back on if I ever think about using it for title descriptions on listings and even here because it can become an obnoxious word when not used properly. All that yoiu just shared is greatly appreciated and I intend to dig into it. Ciao  oh and yes, incused text along the edge 
|
Pillar of the Community
 United States
6895 Posts |
As mentioned by joe_77, there are plenty of recent auction results for this type and date in high conservation states. These give a "real time" fix on the value in euros without the damage, and you can compare yours to the images here: Graded FDC by seller, hammered at 500: https://www.numisbids.com/n.php?lot...lot&sid=7810NGC MS63 (but qFDC according to seller) hammered at 450: https://www.coinarchives.com/w/lotv...8f64a1fb7ed0Graded qFDC by seller, hammered at 300: https://www.numisbids.com/n.php?lot...lot&sid=7402Graded FDC by seller but with some obv defects, hammered 160: https://www.numisbids.com/n.php?lot...lot&sid=6620Graded SPL+ by seller, did not sell at opening bid of 250: https://www.coinarchives.com/w/lotv...f2caf4d6ae2fGraded SPL by sellers, hammered at 150: https://www.numisbids.com/n.php?lot...lot&sid=7594https://www.numisbids.com/n.php?lot...lot&sid=6056Graded SPL by seller, hammered at 90: https://www.numisbids.com/n.php?lot...lot&sid=7030I tend to agree that if you are planning to sell it, a slab that carries the term "Details" is not going to help you get the best price. I would sell it raw and assume that your exquisite obverse will get you a pretty decent price. And for what it's worth on the discussion of "rare," yes, if I can find 20 sales of the coin in the last few years (I excluded the ones in lower grade), it is VERY far from my personal standard of what I call rare, which would be more like 1 per year.
Edited by tdziemia 12/07/2024 08:53 am
|
New Member
 United States
15 Posts |
I appreciate the time you took to compile that data-rich replay. It kind of makes me feel like I come across as having spent 0 time researching the coin. From everyone's response,being generally similar its a no-brainer. to offer it as-is and more data sources to bookmark I am very appreciative of that.. Sadlly I don't know how to perform a search with Newmans Numismatic Portal yet, so hopefully these other sites can a bit easier to navigate and can make up for that will change in time. so thanks for tolerating my defensive responses and apologies @mysilveryears for me getting cute.It iis an unfortunate character flaw of mine that rears its head, more than I woiuld like. 
|
|
Replies: 10 / Views: 672 |
|
To participate in the forum you must log in or register.
Disclaimer: While a tremendous amount of effort goes into ensuring the accuracy of the information contained in this site, Coin Community assumes no liability for errors. Copyright 2005 - 2025 Coin Community Family- all rights reserved worldwide. Use of any images or content on this website without prior written permission of Coin Community or the original lender is strictly prohibited.
Contact Us | Advertise Here | Privacy Policy / Terms of Use
|
Coin Community Forum |
© 2005 - 2025 Coin Community Forums |
It took 0.39 seconds to rattle this change. |
 |
|