Just got back my first ever submittal to a coin grading service

Brown and Dunn - Forward to the 1958 Edition: "Coins which are badly worn or which have serious defects are not worth keeping unless the doin is an especially rare coin. Where less serious defects exist - light rim nicks or scratches - the coin must be graded down at least one grade from whatever it might otherwise have been graded." They never mention about a coin being ungradeable.

 

Log in or Sign up to hide this ad.

Like others have said, Heritage Auctions is the place to go for prices on slabbed coins. I used it extensively, and never bother with the redbook, PCGS prices, treys wets, etc. This is what real people are paying for real coins. I think not giving you a direct answer is something along the lines of teaching a man to fish:smile

Anyway, if you never checked there you will need an account, but it is free to sign up and here is a link to a similar coin that is somewhat representative to what you have.

http://coins.ha.com/c/item.zx?saleNo=1166&lotNo=9519

Mike

 

This would fall under the category of "serious defect" which they neither address as being gradable or not. This is not a light rim nick or scratch. All they say is that since this is a rare coin (actually it's a valuable coin...it's certainly not "rare") that it is worth keeping.

 

The link example clearly exhibits much more severe damage than yours. Realistically and considering the popularity of this issue, knocking the price down from a fine to good would be a reasonable asking price. It all depends on what you have buried into it. If you are neck-deep and bought as a no problem piece, recouping your investment may be tough. Such a coin with a similar little rim nick are offered regularly at B&Ms for straight money and do sell - right or wrong. Personally, if selling in a venue such as eBay, I would list (with make an offer option) at CDN bid in VG ($775) and hope for the best. Not that you will get this out of it, but its worth a shot. There are many, many "bargain buyers" out there.

 

How much does it cost to submit? Ive been mulling sending in some items myself.

 

There are so many different ways to get them graded, that a trip to the TPG sites is a must. You will have many options to look at. Some must be specifically requested.

 

The coin isn't worth zero...that's obvious

I know to you it is but I bet you would feel differently if you owned it...

Say you did, would you throw it away?

 

If I had that coin, what would I have to get to sell it?

I would try to get 7 or 8 for it.

Maybe a thousand worth in trade.

 

What did who mention?

 

I hate those new prong holders.

 

First off, I wouldn't have bought it in the first place.
But assuming I did own it, I'd put it on eBay with a $1 starting price and hope for the best.
I know that it would be worth something to somebody but that somebody isn't me.

 

It only takes one person to make a sale

Besides I like problem coins...nobody's perfect right?

 

If the coin sold for $1 would you be happy sad or indifferent to the results of the auction?

Is there a certain level that when reached would change the way you feel?

 

Here is my two favorite quotes by Mark Feld

Buy/collect what YOU like. But keep in mind that when it comes time to sell, not everyone else will necessarily like what you did/do.

Don't talk yourself into buying a coin. If something about it bothers you now, there is an excellent chance it will bother you as much or more later.

 

Thats good advice...I pretty much like them all...but to be fair my budget limits me to low grades so I guess i dont realy have a choice

 

I feel your pain.