Why would they grade it?

I bought off ebay a 1953 Franklin half NGC graded VF details-rim damage. Why would someone have such a common coin like this in this condition graded?

Why did I buy it? I paid about a dollar over melt for it.

 

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pics do wonders!

 

There may be an error, or a vam attribute that they thought it was worthy of? PICS!!

 

Easy - because someone paid them to grade it.

 

Here you go.

 

You cannot link to images directly to your computer.

How do you like your iMac?

 

I think he figured it out. Plus I am curious what rim damage there is on the coin - what is the holder hiding?

 

There are gouges in the rim. They look like quotation marks around the "LI" on Liberty.

I love my Mac.

 

Agreed, i see no rim damage... Maybe a slight damaged area above franklins head and on the bottom of the reverse, but not very noticable from the pics...?

I think you paid a fair price for it, as a slabbed coin to me is worth just a bit over the going rate of that coins value. My best guess would be that the person that submitted it, either needed another coin to meet a quota for a certain price range or they were hoping for a MS grade (of which it's not). If it were in MS it would be worth between 5x and 10x the value...

 

The world is full of slabbed coins that should have never been slabbed. I've been picking up slabbed Lincoln Cents on ebay for as little as .99 cents. That's about all they're worth as they should have never been submitted in the first place, but I use them as a hands on grading tool from the TPG's. When you have an AU-58 or whatever in hand from a TPG it's much easier to look at it than read a description, or even look at a photo of what an AU58 coin should look like.

 

Inexperience? Needed another coin to send to round out a submission? Sentimental value? To settle a bet? Humor? A variety?

Who knows?

 

A Tool For Grading

Personally, I got tired of buyers/sellers telling me what they would like to see when buying/selling a specific grade coin.

I bought PCGS certified coins of the many types/grades to show optimistic buyers what they could expect when buying higher grade "mint state" coins. I bought ANACS, ICG and SEGS certified coins to show selling dealers what is expected when buying higher grade "mint state" coins.

I suspect others also needed these tools, and obtained them when realizing a certifying bargain.

An optimistic individual may also have seen one of my preferred TPG MS63 certified coins, and knew that his coin may also be acceptable. LOL

 

Maybe someone thought the damage was an error

 

Appears similar to a "Bugs Bunny" clash of the upper lip. I don't believe it is though, but maybe the submitter thought it was.

Jim

 

From NGC:

Honestly, it would be hard for me to come up with five raw US coins that are slab worthy. :nice-smile:

My fifth coin for submission might be something I pulled out of that morning's pocket change.

guy

 

Darn good idea, thanks.

gary

 

me too

 

I'm putting together a great "grading set" that I've picked up for dirt cheap on Ebay. It takes some searching and watching, but you can get them for much cheaper than it cost to get them graded. I look for low starting prices on coins that shouldn't have been slabbed given the grade. I've gotten my last 4 for .99 cents.

 

That's so COOL ! I know that i need to use comparison coins. I have been putting together a series of raw Cents of different dies and varieties to have something to check against. The grading Key is a fantastic idea. I believe a Vinyl page of Grades from AU40-MS65 or so might be the ticket ? I look at the PCGS pics on-line, but that is not the same as an in hnad coin.

Thanks,
gary