Do “Details” Reduce a Coin’s Value?

In the 1950s and ’60s, the motif of the day was to regularly clean coins. Coins taken from circulation were often dirty or dull in appearance, so it behooved the collector to brighten up the coin and make it shine. Coin cleaning was not frowned upon but was expected as standard practice. In my college town, I joined a local coin club, met an active coin dealer who owned a Ben Franklin five and dime store, and found a pawn shop with a coin board for weekly coin auctions. There were also a few “pocket dealers,” all of whom embraced cleaning coins to a bright sheen.

Shifting Attitudes

In the 1970s, coin grading became a goal and an adjunct to the hobby, and attitudes about cleaning coins began to change. A cleaned coin became a less desirable coin. Graded coins were returned with faults noted, whether it was a cleaning or some other detrimental “Detail” about the coin’s condition. “Details” is the generic label that third-party graders put on slabs of coins that have been cleaned or have some other factors that detract from the condition of the coin.

“Details” covers a wide range of sins. These include cleaning (which may be light, old, harsh, etc.) to being polished or “whizzed” (coins that have a fake luster applied) to some type of damage, such as having a bent, scratched, or altered color or surfaces. Coins that had “Details” designations came to be valued less highly. Over several decades, coins so described became frowned upon (by many) and valued less by nearly all collectors.

“Details” is the generic label that third-party graders
put on slabs of coins that have been cleaned
or have some other factors that detract
from the coin’s condition.

Devil in the Details

So, should a “Details” coin be valued at one grade lower? Two grades? Does it have half the value of an untouched coin? I learned early on in coin collecting that the price a buyer is willing to pay indicates what a coin is worth. When that price is agreeable to the seller, a transaction takes place. While grading coins is a great help in standardizing prices, coins with “Details” are in no man’s land—no standard exists to measure the value to be deducted.

My approach to this issue is first to categorize the nature of the coin’s noted distraction. I don’t want a damaged coin. Cleaning is the least offensive. The others may disqualify a coin from my interest quickly. However, I will purchase a coin that has been cleaned but retains a natural look with sufficient eye appeal and is solid for the assigned grade.

Rarity Matters

A crucial factor in this process is the coin’s rarity. It’s only common sense that the more scarce a coin is, the higher the percentage of total value it is worth, regardless of its distractions. Common coins noted as “Details” do not offer much unless they are silver coins with inherent value or, in some way, appeal to the buyer.

“Details” certainly affect a coin’s value, but by how much? For a scarce coin, a cleaning should subtract no more than two or three grade levels from the value, but that is totally up to the beholder, who may be less or more motivated to purchase the coin. The value of damaged or altered coins may be impacted by half or more or passed up entirely as unworthy of one’s collection.

Conclusion

It is unwise to automatically pass on every coin with the “Details” designation as if it were diseased. If the coin has merits, a more careful examination is called for to assess the impact of the negative(s) honestly. Many cleaned coins show no evidence of such to the naked eye and may be desirable. Again, the buyer is in control, but many very worthy coins have been cleaned at some point. Heck, I may have cleaned it myself 60 years ago!