Quote:
Originally Posted by Alan Reed
Reading this thread, I see it has transitioned from an auction price thread to a re-stamping, re-bodying, re-tagging thread.
Interesting to see the varying and changing ideas and opinions on this subject.
I have been accurately described as a guy with an opinion about most things, and this subject is no exception, but I will not share my opinion here.
But, I do have a question for anyone willing to reply. I am an amateur coin collector and am considering what may described as a coin restoration.
I have this valuable 1913 Buffalo nickel that has had a hard life. It has had extensive use and circulation resulting in significant wear to the front and back of the coin. It is barely recognizable as a 1913 nickel. I suspect if this coin were made from steel, it would have rust, maybe even rust perforation.
Restoring my 1913 nickel is going to be a very big job. I will need to refinish every tiny detail of every shape and surface on both sides. It will take many hours and will be very expensive.
But, none the less it is a valuable coin and worthy of extensive efforts to restore it to it's original splendor. Then I can show it to my coin collecting friends with pride. They might even be complementary of the quality of the restoration. I also could enter my restored nickel in a coin show for others to admire. In the future I may tire of owning this nickel and decide to consign it for sale at a large coin auction venue.
As it happens, I also have a 1914 Buffalo nickel that is in almost perfect uncirculated condition. It's coin features are sharp and fresh and it looks shiny and new. In spite of it's condition, it is not a valuable coin. 1914 nickels are much more common and are easy to find.
Wouldn't it make sense for me to use the 1914 nickel to restore my 1913 nickel? I could very carefully and accurately "re-stamp" that 4 to make it look like a 3. If I do it well enough, even the most experienced coin collectors may not be able to tell the difference. It would even be higher quality because it would have the original coin factory features that would would be impossible to exactly duplicate in a restoration.
If a collector did see that it was a re-stamp, I would explain that the 1914 coin was made in the same factory, on the same equipment, with the same materials, and by the same coin-making people as the 1913 nickel. That original nickel was in bad shape, it would have been much more work to restore it. I could also point out that the original coin features of the 1914 nickel were better than I could have done for the 1913 nickel. Doesn't that make it a "better" nickel? So what is the difference?
And furthermore, that "3" is just a number. I do have title and proof of ownership of the 1913 nickel, so again, what is the difference? Haven't I rewarded the hobby by allowing my fellow collectors to enjoy, discuss, and critique my valuable nickel? And isn't that re-stamped nickel higher quality than the restored original nickel would have been?
So please, share your thoughts and help me decide what to do with my nickels.
Restore, or Re-coin, that is the question.
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Hi Alan, being an ex-ammeture coin collector I'd be happy to help you with your nickel. The way I see it is you have a few options:
Totally restore the nickel, which would ruin any of its originality, but if done right it'd bring in the dough at a televised auction.
Leave the nickel "as is" but you'd probably leave money on the table if you decide to sell it down the road. You'd eliminate the big dollar potential buyers, because they'd have no idea how to properly restore the nickel.
You could section the date code off the nickel and carefully install it on the 1914 nickel. That way you could install the 1914 date on the original nickel and not be out five cents.
You could section the date code from your nickel and sell the date code to another collector whom may have a mint condition 1913 nickel that's missing it's date code. You'd also have a known original 1913 nickel (missing it's date code) that could be sold to another collector whom may come across a 1913 dated part of a nickel in Switzerland.
You could carefully graft the 1913 date code onto a more common Jefferson nickel. Sell it at auction and claim "that you were told" this is an all original 1913 Nickel by the previous owner and probably sell it for decent money.
Or you could start a thread on every coin collecting Website and lobby for someone to reproduce the 1913 nickel because there is a need for them.
I hope these options help. I'll give you the same offer as I did with the rare carburetors. For half the going rate of a nice original 1913 nickel I will happily sell you a totally authentic looking converted Jefferson nickel that looks identical to the real deal.