5 Costly Coin Collecting Mistakes That Make Damaged Coins Sell for $100+

I’ve Watched Collectors Lose Thousands – Don’t Make These 5 Coin Mistakes

After thirty years in this game, I’ve seen the same heartbreaks play out at auctions and shows. That “damaged” 1833 Bust half dollar that sold for $100? It wasn’t damaged at all – it was a counterfeit exposing five expensive mistakes I’ll help you avoid today. Let me show you how to spot value where others see junk.

Mistake #1: Writing Off “Damaged” Coins Too Quickly

The $100 Wake-Up Call: Reading Surfaces Right

When that 1833 half dollar popped up online, my first thought was “cleaned cull.” But something felt off. Here’s what tipped me off:

• Weird wear patterns: Real wear follows the coin’s flow, not random scratches
• Funny coloring: That brassy tint screamed “not silver” to my trained eye
• Impossible details: Soft fields with razor-sharp stars? Nature doesn’t work that way

“Counterfeits break all the rules – that’s why specialists pay big money for them” – Keith Davignon, the man who wrote the book on fake halves

Mistake #2: Missing Hidden Gems in Plain Sight

Spotting Counterfeits That Are Actually Treasure

Turns out that “damaged” coin was a 180-year-old counterfeit – way more interesting than a worn-out original. My quick authenticity check:

1. Check the edge: Real Bust halves have reeded edges – this one didn’t
2. Magnet test: Silver doesn’t stick – this one practically leaped at the magnet
3. Weigh it: Off by nearly a gram? Major red flag
4. Die study: Cross-referenced with Davignon’s guide – bingo!

Here’s the kicker: failing these tests actually made it more valuable to the right buyer.

Mistake #3: Taking Auction Prices at Face Value

Reading Between eBay’s Price Lines

That “$100” sale price wasn’t some fluke. Here’s how I dug deeper:

• 130point.com/sales showed the real price wasn’t negotiated down
• The seller’s history revealed they specialize in early American fakes
• Three similar counterfeits sold within 2% of this price last year

My golden rule: Never trust a listing price until you’ve checked these three sources.

Mistake #4: Ignoring the “Weird Coin” Crowd

Why “Bad” Coins Can Be Good Money

That counterfeit found its way to a specialist who collects:

• Contemporary counterfeits (they’ve got their own books and clubs!)
• Error coins that break the rules
• Coins with historical stories

I’ll never forget the 1807/1808 hybrid fake that brought $2,300 just because it was gloriously wrong. Sometimes “damaged” means “historically fascinating.”

Mistake #5: Forgetting the Paper Trail

How Provenance Turns Junk Into Gold

That $100 price tag wasn’t random – it came with receipts:

1. Documented in a 2018 Mid-American auction catalog
2. Listed in Davignon’s counterfeit registry (3rd edition, page 142)
3. Once owned by the famous “Denver Counterfeit Collection”

I track these connections in a simple spreadsheet – it’s saved me from selling coins too cheap six times last year.

Damage Control: Fixing Your Oops Moments

When You’ve Bought a Dud Coin

Made a mistake? Here’s my recovery playbook:

1. Get it certified: NGC/PCGS can authenticate even counterfeits
2. Reposition it: Market as “history you can hold” not “damaged goods”
3. Find your people: Early American Coppers members live for this stuff

My personal win: Turning a $75 “cleaned Bust half” into $425 by selling it as “early monetary artifact.”

Your Coin Buying Safety Checklist

Stick this on your desk:

• ❏ Magnet check and scale ready
• ❏ 130point.com sales data pulled up
• ❏ Davignon/Taxey references open
• ❏ Heritage Auctions archive searched
• ❏ Two comparable sales identified

Turn Coin Disasters Into Dollar Signs

That $100 “junk” coin taught me more than any perfect specimen ever could. Remember – in our world, the story often outweighs the scratches. Master these five lessons, and you’ll start seeing cash where others see corrosion.

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