I know the title is vague, but I guess the question I want to ask is. IS it better to find coins in rolls in circulation and hope that they just come out of the roll BU? Or is it better to just buy BU uncirculated rolls and try and open them and hope they're good enough to grade? Or is the best thing to do is to not grade anything or expect anything and then if you just happen to come across something then you grade it? I notice most coins don't get higher than like MS65 or MS66, so I guess I'm just curious. I recently got into coin collecting at the end of last year, and I also have a large background in trading cards and the grading system is much different and I'm used to knowing what to look for for older cards to get graded, and I think I'm just not experienced for coins and was curious for any advice. I've seen some YT videos explaining the subject but I still feel like there's something I'm missing. Any information will be appreciated. Thank you CT!
Yeah, it had me wondering. You can grade anything you want, but if you're talking about submitting coins to TPGs for certification, that's often a financial calculus. The costs are not negligible. The best coins I've ever found in bank rolls were very fine indeed, and still not good enough (imho) to submit. YMMV. When I want a certified coin, I usually just buy a certified coin. But I'll be sending in some "raw coins" soon, just for fun. I didn't get them from circulation.
I wouldn’t submit anything you find in coin rolls for grading. Especially if you’re looking for a high grade designation. Would be a total waste of money. The only exception is if you find an extreme error and the odds of that are very slim. In 25 years I only found one coin in circulation that I would even consider submitting. It was a circulated Kennedy Half, struck through with a large piece of metal retained in the coin. Anything else is good as is. If you’re looking for graded coins for yourself you’re better off finding them already slabbed.
I'm no expert in the grading of coins but I would think that the fees involved vs the Value of the coin plays a huge factor. I mean you can get a general answer from credible sources as to the grade and value and go from there.
It just seems strange to me that there is years and years of coin collecting but there's some coins who don't have higher than a MS67 or 67+ just seems impossible to me. But like I said cards are kind of different because theoretically, you can always open the old packs to get pack fresh cards but seems kind of impossible for coins.
The coins take tremendous abuse before they leave the mint. Once they get struck they get dumped into a bin by the thousands and shaken around. Then they go into bags, then wrapping machines, before they make it to your bank. That’s why we get them all dinged up. You can find videos of the production process online. They’re actually fun to watch.
Sending coins from circulation (or even fresh rolls from the mint) trying to get MS 69+ is a losing game. I might be wrong, but my assumption is that super rich people playing the registry collection game are the only ones doing this kind of thing. They don't mind wasting tons of money on grading fees trying to get that top-pop 2023 business strike coin just to get an extra point on the other rich people. Even then, they'd probably be searching coins from mint sets... or no? I'm not sure if these coins receive any special treatment (saved from the mechanical processes of bagging/rolling at the mint). And then there's another question to consider....... is the difference between a 66-67-68+ really all that important? Is it really worth paying significantly more for a coin where observing the differences requires a microscope? If you look at the situation from an outside perspective, then it's pretty easy to see that we've gotten a bit carried away with this kind of thing. Card version: Could you reliably see the difference between a 9 and a 10 at arm's length? And why would you feel the need to look at a card at anything other than arm's length? Are we coin/card collectors? Or TPG number collectors?
I would say that you have answered your own question. Spend some time learning how to grade, Learn what gets you a gem + grade on a coin, and what distinguishes a bag mark from circulation contact. One thing I can tell you is that Luster is the determining factor between a common MS63/64 and aGem 65/66. The luster on a 67 or better is significant compared to a gem. Now you have die stages to factor, contact VS bag ,marks and how many of them or focal. Lets not forget eye appeal, on a blast white coin that is usually associated with die stage. Don't be discouraged, dive into books, look at graded coins in hand not photos, but most of all don't worry about grading they change the criteria to stay in business.
If you want high grade slabbed coins, buy them. Don’t expect to find them in rolls anywhere. I have purchased several MS-67 or higher coins for under $10.00. You can’t grade them for that.
I've never had anything graded, so have no idea how to answer this, but I think the usual guide line is the cost of having a specific coin or item graded. Usually, it's not worth it, at least to me.
Yeah you can tell the difference but sometimes some 9s are 10s and some 10s are 9s. For cards it's pretty obvious because the cards can show whitening, centering issues etc. But for coins I have no idea lol
The ones in the best condition. Incredibly rare coins, varieties, errors. Key dates. Semi key dates. You have to compare your cost and selling the coin graded or raw. If it cost you $40 in insurance,shipping and grading fees (just guessing) and now your coin is worth $100, and it was worth less than $60 raw, but that is barely break even. And then when you sell again there are outrageous shipping fees, pay pay fees, Ebay fees. So it all has to be considered to be worth the time and expense.
Fair enough. But I guess with cards the difference between a 9 and a 10 represents 10% of the total scale. Whereas with coins, the difference between a 69 and 70 represents 1.4% of the scale
So I like collecting coins because I geniunely like going through rolls and finding cool stuff. But what I'm hearing the more I come on this forum and make posts is that, there is absolutely no money to be made in grading coins, so I'll make sure to keep that in mind. Not saying I'm in it for the money at all, I genuinely love the hobby, but it seems that grading is not important at all. Appreciate everyone's feedback.
Most anything you can find in a roll can be found already graded without costing a fortune. So I would just buy them. You have to send in a whole lot of coins to get a few in those super high grades. And you pay a fee on each one no matter what the graders' opinion is. It is a losing proposition. Other posters have already pointed out why there aren't always perfect coins for all years. Plus you have to keep in mind, with the exception of proofs and commemoratives, coins were made to work. Cards were not (With the exception of gaming cards)
There is money to be made in this business, and those that do understand the grading system and usually pick a certain style or denomination of coin. It is knowing/studying what to look for.
You can make a lot of money submitting coins for grading, they just need to be the right coins. You also need to get to the point where you have a pretty solid feel for how each TPG will grade what you're submitting. You shouldn't really be surprised when you get back the grades. The vast majority should be ballpark what you were expecting. If you're submitting coins you think are MS68 and they're coming back AU details, you're not going to make any money.
