When it comes to a collectible item, condition is everything. Even slight variances in condition can drop the value of an item dramatically. Collectible items unopened in original packaging can command premium prices, but open or damage the packaging in anyway and the value will instantly lower.
I been to a number of estate sales and auctions where stickers have been put on collectibles, both in and out of the packaging, in way that devalues an item. So when selling a collectible item, think carefully about where to place any stickers, tape, or adhesive.
Here are a few tips that I’ve learned over the years:
- Make sure items are stored in a cool, dry place. Consider using a moisture absorbing product to prevent humidity from affecting the items condition.
- Store paper items like comic books and baseball card in archival quality sleeves with acid free backing. The same should be considered when framing prints and posters. Make sure the framer uses and acid backing and a UV blocking plexglass front.
- If you have coins in a stapled 2×2, make sure the staples are flat against the 2×2, so you reduce the chance of scratching other coins stored in a 2×2. Better still, use self adhesive 2×2 or polyethylene flips. Never store your coins in a poly vinyl flips, it will eventually cause PVC damage to your coins.
- Use cotton gloves when handling coins or paper collectibles.
- A sturdy display case will keep breakables safe and dust free.
- If you own art, consider the temperature and exposure to the sun. I have a friend who owns a very nice and expensive painting that is hung in a warm, humid room. This could cause mold or, peeling of the paint.
In the summer of 1964, Congress passed a bill authorizing the minting of 45 million Peace Dollars. An initial run of a tad over 300,000 were minted. The rising price of silver and a dwindling supply caused a political storm that lead to the scuttling of production of these dollars and the Mint subsequently destroyed all of the dollars produced.
But rumors persisted that some of these Peace dollar may have escaped destruction. If any have survived, the value would be as much as the fabled 1933 $20 gold piece or the 1913 Liberty Head nickel.
To this day none have surfaced, but in late 2010 Daniel Carr, a private minter, who designed the New York state quarter, produced 1,964 restrikes of this legendary coin. Carr produced these by using original Peace dollars and over striking the coins on a refurbished US Mint press with the 1964 date and D mint mark.
His restrikes caused an immediate controversy among coin collectors who debated whether these restrikes were counterfeits. Carr defended is work by pointing out that the coins were indeed original Peace dollars and as such were legal tender and not counterfeits, particularly since the Mint claimed that all 1964-D Peace dollars were destroyed. All he had done was merely over struck 1964 over original date, added the D mint mark and sold the coins strictly as a fantasy piece.
This controversy, along with the incredible quality of the strike, use of original Peace, Dollars, reputation of the minter, and extremely limited mintage of 1964 pieces, caused the price of this coin to go from its original issue price of $110 to over $275 on eBay.