Is there a benefit to take a coin from a uncirculated P And D mint set and send it in for grading? I have a 1990 no mint mark Lincoln Cent that is virtually spotless and I haven't seen any that compares or even comes close to it. I would think that everyone would be doing it if if that's the case. I paid less than $5.00 for it and even in sets like this it is hard to find a better example.
You have to have a very refined eye to be able to tell the truly pristine modern coins that may make that spectacular and profitable grade. I been looking at coins for fifty years and I don't have the skill to take that gamble..... Usually when I go to coin shows I will pick up the slabbed moderns as gifts for the kids at $5.00 each or so.
Exactly. I have watch a lot of videos and I see that even when people that have been doing this for years are hesitant to send things out for grading because it is so tough to find just the right one.
For most common moderns, it is not worth the investment. For low mintage, specialized coins, submission is recommended. This is for things like reverse proofs,limited issues, etc.
The 1990 would have to grade MS-68 or better to cover the grading fees. PCGS has only graded 47 at that level. A person needs strong skills to play the grading game.
I understand that. I see where some of the more modern coins in splendid condition auction for a lot of money. I get it that it depends on population and what people are willing to pay. Wasn't sure if the preferred coins are circulated and just in better condition for the average coins available. Much appreciated. Good answer.
That's what I thought. I am new at this and I'm getting some great answers including yours. Much appreciated!
I will say this, as a roll searcher, even of BU boxes, the nice coins are very few and far between, nicest I've ever come across is MS66-MS67. Your best shot at getting a high grade MS coin would be out of a mint set, not from a meant for circulation roll or bag, and this would be because the mint ships out coins in bags on pallets to hubs, the hubs break the bag and dump it in their industrial sized rolling machines and they all get zingged around in that process. even the shipping to the hub and then the transport to the banks, all of this makes it hard to come up with a coin relatively free of contact marks. With a mint set, the coins skip the transportation and rolling, and transportation, and have a higher chance of being less imperfect, but still you have to know a MS67 from a 68 from a 69 when you see one, and not just blindly gamble unless you have money to throw away. Mint set coins are better if looking for a high grade moderns for this reason, but they aren't perfect and some are better than others, so even still it takes a real knowledge to find candidates to send for grading, even from mint sets. if it doesn't come back top population of a grading company, it wasn't worth the cost to send it in.
Well explained. It is not easy I know. I haven't seen one in the time I have been at this. I've been searching for a couple years off and on and watching videos but not really understanding the process of what and when to grade. I'm learning a lot from people such as yourself here. This is good education.
It's more about the cost to have a coin graded than anything. If it was dirt cheap to get coins, or notes for that matter, graded, every shiny coin would be sent in. With the current fees, it seldom pays to send in one just hoping for a MS70.
like lincoln cents for instance it's more than just "this coin is the nicest I've seen". there's a lot of market factor involved. rarity or scarcity, condition rarity, population.... there's just more to it, is what I mean. PCGS population report has the 2005-2010 MS coins, and then it has the mint set coins as "SP". These were made by the mint as "Satin Finish" for the mint sets, there were no business strike mint sets those years that didn't have the different finish from the circulation strikes. https://www.pcgs.com/pop/detail/category/47?l=lincoln-cent-modern-1959-date&ccid=0&t=3&p=MS&pn=4 https://www.pcgs.com/pop/detail/lincoln-cent-modern-1959-date/47?ccid=0&t=3&p=SP As a result, the SP coins have many SP69 and a few SP70 even, the business strike or "MS" or circulation strike coins from 2005-2010 stop at MS68, and those are few and far between, while the SP coins from the mint sets graded highly for the most part. What's it mean? Well it could mean the Mint set coins were better... It could also mean that the grading companies decided to market grade the satin finish mint set coins more leniently than they do the business strike MS coins for resellers. Hard to say but this translates into a 2006D MS67 selling for around $55, with MS68 being a top population of 11 that sells for around $1500. And the 2006D SP67 selling for about $12 if you are lucky, a SP68 sold on great collections for $3. it needs to be SP70 for it to get anywhere near the $1500 range. SP69 sell for like $35. Oddly, or I should say not surprisingly enough, from 2011 onward, it's rare for any cents to grade higher than MS68 again, which kind of confirms the suspicion that the grading companies graded the mint set satin finish coins more loosely than the circulation strike counterparts. made some "satin finish" special labels and cashed in on that HSN money giving them something to sell for a decent markup... it is what it is. I have my opinion on what my coins grade, someone else might have an opinion that differs. A 3rd party grading company provides an evaluation and opinion for a fee. If you find value in that service, that's fine,.but it's just that, the opinion of an outsider with no skin in the game telling you what they think of it, and they are as wrong as anyone else sometimes, but they are more experienced than many people are also, so there's that. If the money is at MS67 and you know that's what your coin is, yet a a prospective buyer is offering MS64 money, there's value to getting a coin graded. if you don't intend to sell, or have no need for the 3rd parties opinion, it's just spending money to spend money in my opinion. Anyways, I'm a rambler and get long winded. I've been collecting my entire life. I don't own a single 3rd party graded coin, i don't know if I ever will but I suspect I will at some point,,,the only question is, will I crack it out if I do buy one...
Just to piggyback on what was said here, finding super high grade business strike coins by going through Mint sets is still REALLY difficult. I've gone through about $10k in mint and proof sets in the last year, and the amount of coins I've held back that I think are much better than average (i.e., just on the cusp of being worth sending in for grading) would easily fit in the average kids lunchbox. And I still haven't sent ONE of them in for grading, because when I go through them again later, every time I tend to find marks/damage I'd missed the first time. Mint set quality also varies drastically by era. 60-70's mint set coins very frequently look like they minted them, dumped them in a hopper, rolled it out into the parking lot, dumped the coins into the parking lot, and then drove over them with the forklift a few times. They are pretty rough. From what I've seen, the 80's-90's, especially the 90's, are generally MUCH nicer in quality and condition - meaning for you to find one of those that is distinctly nice enough to warrant grading fees will be that much more difficult. It's still possible, don't think I'm saying it can't happen...but it's really a challenge. I've seen a handful of Souvenir Sets from the Mint, though, 70's-80's, that were markedly nicer than almost every mint set from that era.
Interesting. I purchased a 30 th Anniversary Silver Clad Collection 1/2 Dollar Mint Set and could not believe the dents scratches and dings. The saving grace is that the 68 & 69 are double dies. They look like you described lol. I'm glad I posted this. Great conversation meets and exceeds the answers I have been wondering. Very informative!
