To grade or not to grade? (2015 P penny)

ok so i do understand that I am searching for opinions only. Being new and all...would you get this graded or is it to 'new'? I do know that it can be quite expensive and the add-ons to grading can just increase that bottom line. Would it be better to get a subscription to a site and go off the perks? Is there any cut off points or mitigating factors that figure into you having a coin graded or not?

and btw.. those polka dots are gas bubbles?

 

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No. Too many plating bubbles. You could buy 1 better. It would not be worth the grading fees. Keep searching and you will find something good. Ask @furryfrog02 ... he has found some amazing stuff and varieties. Also ask him how many millions of cents he has searched threw... lol

 

Sorry. NO.

 

See above, you can buy one already graded for a lot less money.

 

That cent is worth one cent. Don't have it graded.

 

Sal why do your answers depict your registered shoe size ,and age at Thom McCans?
One would expect this sort of behavior from a child....its not becoming of this froum to a new member who is trying to learn from a bunch of old men...who resent the notions that someone came here to learn ...no matter how ridiculous their question is .....it deserves respect, and not the shenanigans of an immature member stupid responces to legitimate questions.

 

OK. SO....does anyone want to elaborate lol...are you saying that it's too damaged? not any errors? not anything unique? not a specialty coin? not old enough? not enough history behind it? I purposefully picked this coin because it was so mundane. I wouldn't' pay almost $400,000 for J.K Rowlings chair that she sat in to write her books, but I am not Harry Potters biggest fan either. Nor would I drop over $100,000 on Elvis's haircut remnants. But no matter the object, people's desire to have that one item that no one else does, or to immerse their selves into their passion so deeply as to obtain a vast array of items that represent it is unfathomable at times.

dwhiz: see above what? or where? could you elaborate on anything?

ldhair and dwhiz: i never said I wanted to get it graded lol. what would be the point of me, an honest to goodness, newbie trying to form an opinion on such a financial endeavor? It would be retarded.

I guess you guys are used to people just wanting to be that lucky one and find the holy grail. Me, myself, well I am jumping in it for the pure fascination of the hunt, the history behind it, the new knowledge gained (for I love to learn new things-anything), the warm fuzzy I get in jumping into my dead Father and dead brother's passion and lifelong hobby. My Dad being more of the expert...shall I continue?

Then I went on to ask what is the reader of this post's considerations, limitations and/or deciding factor when they go tgo get a coin graded? Some use metal detectors, some shop estate sales, some coin roll/pocket change hunt and some just pull out a wallet to obtain coins...but they all do it for the same end result. The way mankind has always sought to find the treasure or to accumulate something that they desire is part of the history handed down generation after generation..

I guess my disdain in such short answers is that I have learned nothing from them..and that's all that I was attempting to accomplish, I have been told by many to seek the wisdom of coin forums. I just didn't realize that its only truly for the seriously dedicated. Just because I don't have $25,000 to drop at auction or a collection that would make Bass Jr. jealous, doesn't mean that I am to be addressed as a child tugging on my mother's skirt. Every single person on here, no matter the age when they started collecting/hunting, was once in the same spot as me.

Attempting to take a serious approach to learning, I often find that I have learned a more valuable lesson by asking questions of my elders and professionals in that field more than I have ever realized from an article or test book. .not to say they aren't valuable, (check my bookmarks). I am trying to meld professional experience with textbook education to better understand and learn about a subject that I never considered in from the aspect of an enthusiast before.

All I ask is that if you take the time to read, and yes I said read my post and give me your experienced knowledgeable opinion , I humbly ask if you would take a few minutes to extend your reasoning behind it. If my questions are too trivial for your attention, then kindly pass my post by and let your attention fall to the more important conversations.

i inherited my Fathers collection, not to mention what was involved with the family business. I never blindly jump in any situation about anything. If I am wrong to seek some kind of clarification here, then kindly direct me to the proper avenues.

thank you for your time, patience and attention gentlemen

Have a great day!

 

These are all great questions. The hurdle here is to pick and choose through the responses you receive. Be assured some of the hobbies greatest minds contribute here on coin talk.
At the same time you may get responses that are not so helpful. Please stick around read and learn. In the end we will not steer you wrong and you will about a fascinating hobby.
Peace, and happy collecting.

 

Very well put.

 

It was just a joke... I knew there was a reason that I had you on ignore. There you go again: IGNORE...

 

All one need do is look up and you'll see just how immature. The members here as well newbie deserve respect no matter their question. If it plucks your nerve pass it by... but don't discredit this forum as well its members by acting like this is a 3 ring circus! The members here have spent decades in this hobby ,and come here to discuss coins. Not to have their hobby desecrated by a bunch of nonsense.
Im so happy to hear I'm on iggy..... if only there was a button for you! There be a line in here to press it.

 

The total cost of grading a coin including the grading fees, shipping and insurance may approach $60. Some general rules about having a coin graded;
If the coin has a value of less than $200 it probably isn't worth it.
Research the coins value and try to determine how much value would be added to the coin if you spent the money on grading.

Would it be better to get a subscription to a site and go off the perks?

Yes but only if you have a number of coins that would benefit from being graded. Also remember grading fees are only part of the total cost. You would still be responsible for round trip shipping and insurance.
Is there any cut off points or mitigating factors that figure into you having a coin graded or not?
Yes; The coins value and/or the value increase that grading may add to the coin or to authenticate a variety to name a couple.

and btw.. those polka dots are gas bubbles?
Yes they are, and your observation shows you have some knowledge about the coin.
You are starting out in a great way. Picking out coins that have eye appeal, studying the coins surface and condition, making observations and then asking questions. Do your research, keep asking questions, and keep up the good work!

 

I think the question of grading needs to be more specific. I've wondered this myself as I've never sent in coin in to a TPG. So assuming that's what we're talking about when we're talking about grading I think the next question is, what do you hope to gain by having it graded? If you're hoping to increase the value of the coin, then in this case, it does not make financial sense to have it graded. You'd never be able to sell the coin to recoup the costs of the grading fees/shipping. It's a common, low value coin. I'm not seeing any errors or varieties, I'm not a big fan of the Shield cent though so my knowledge is almost zilch on those.

However, I know for myself, I have a couple of coins that I like and have had for quite some time, and I've kicked around the idea of sending them in for grading. I know damn well they aren't worth the cost of grading, or at least would barely break even. But my intent with those coins (if I do in fact ever send them in) would simply to learn, and see what they grade at, and get them slabbed which is a nice way to have them displayed and/or stored.

So - in my opinion, before one can answer whether or not you should have something graded, they need to know what your intent is or what you hope to have for an outcome. Perhaps it's worth the cost for you to know what the professional grade is, and the value of the coin does not matter. People pay for services all the time that don't have a good ROI, so who's to say if you should or shouldn't without knowing your intended outcome.

JMHO of course.

PS - I've never bothered to learn what those spots were, so thanks for asking for verification on the gas bubbles, now I know too.

 

I will be the first to admit that Lincolns are not my strong suit...I don't actually collect much passed 1964.
These new zinc coins are out of my wheelhouse to be honest. So I will refer your questions to those in the know.
The links I gave you will be a huge help IDing most variety and errors.
And there's no dumb questions esspecially when one wants to learn.

 

The question of "to grade or not to grade".... There are several approaches to this. When you are dealing with older historic coins, the reasoning becomes entirely different than when you are dealing with modern coins. Since yours is a modern coin that is what I will address..... In general with moderns only the absolute finest, first strike, and absolutely perfect coins should be considered. See, there are folks out there that compete with registry sets and they aren't interested in the MS65 coins. And here's the deal.... You must have one very discerning eye to be able to tell if a modern coin may fall into that MS67-68 category. I been looking at coins more than fifty years and even I won't do it. Way, way too much of a crapshoot. I will often pick up graded moderns at coin shows to bring back for the grandkids at about $5.00 a piece.... It costs somebody $30.00-$50.00 to have that coin slabbed!

 

lesson one, everyone has a cut off for value to where it would make sense to have a coin graded. Some set it at $150 Some at $200, some even above that and won't submit a coin that won't run that kind of value after grading.
Others have money to blow and send everything for grading, even if it loses money.
The thing to remember about third party grading companies is they sell an objective opinion on the grade and condition of the coin, an opinion of someone that isnt' a buyer or a seller, but that's all that it is "an opinion".
Some people seek this validation for everything, some only use the TPGs for expensive coins, attempting to protect the value, some buy only graded coins, to try to protect themselves for buying damaged or counterfeit coins.

Would I get that graded? No, I've seen better, and for moderns to have any sort of resale value, they need to be top population grade of the grading companies. that might be MS67, MS68, or MS69, but it has to come out in the top group of coins for it to have been worth the cost of sending it for grading in most cases.

Now,there is another category for getting something graded, a coin might have sentimental value, and you might want to protect it even if it isn't high value, I have no problem with someone getting coins graded for this reason and taking a loss on it if that's what they want to do.

Are third party grading companies services necessary? No. it's just an outsiders opinion of your coin. But when time does come to sell your coins, I'd think the ones with value, should be graded so there is less chance of people trying to tell you they are cleaned, or a grade or two lower in their opinion, than what you think the grade is. THIS is where the value of the TPG really comes in, of course even graded, a buyer might tell you it's overgraded, or cleaned and they missed it, there's plenty of shady people in the world, and instead of second guessing yourself, the TPG slab might help you to walk away from those shady people.

I have some 2019 W quarters I wanted to send for grading. I haven't done it.
They cost me a quarter, they will cost me probably $60 each to get graded all said and done, probably $40 if sent in multiples at once.
From what I see on ebay, MS64 would be my break even on grading costs maybe even a loss point and I could make money on MS65 or better by getting them graded.
I could sell them as is for $30-$40 each on ebay and skip grading fees, so Ideally, I'd really want to get to MS66 or better which will clear the value of the coin itself and the grading costs, MS65 would likely be current $40 ungraded price and then the fees and maybe a $10-$20 profit more by having it graded above the $40 ungraded sale price. the decent profit and no brainer on it comes into play at MS66, MS67, MS68.
So why don't I do it? I simply don't want to spend the money on getting them graded, and I don't have intentions on selling anytime soon. if I were in a pinch I could sell them ungraded for $30-$40 and let the grading become someone elses thing to deal with, win or lose gamble for them, honestly that's good enough for me.

I dunno, it's all a give and take and should or shouldn't decision people should make on a case by case basis. It's coin specific on if it's a good or bad idea. the idea is to not give the profit of your collection to the grading companies.

Plenty of folks grade coins that shouldn't get graded, and then dump them on the market and can be picked up cheap, many cases $5 or $10 each. no reall need to spend the $22-$27 and shipping to get yours graded when there's so many moderns out there already graded and sold for less than the grading fees would cost you. the home shopping channels sell MS65 graded mint sets all the time, for much more than they would ever be worth, and those buyers end up dumping them somewhere at some point for next to nothing compared to the fees for the grading.

 

Our fellow enthusiasts have done a nice job explaining the pros and cons. There are varied ways to conserve a coin though, so find one that is proportionally correct (e.g., flip vs airtight container). A less expensive, but appropriate approach might suit you perfectly.

 

Thank you to the members whom have answered the questions and concerns of this new member. They have shared their interest to me ....coming from a father and brother who has passed. I cannot think of a better way honor them to be remembered buy the hobby that the father and brother shared.

We as a community have just lost membership that rocked this forum...we have several threads open
right now over concerns of MIA members and their well being.
We owe it to ourselves to help promote the hobby, to leave our marks ,and help grow the hobby so it will continue when we all are gone.....

 

You can compare it to other graded coins with this link.
Images of Lincoln Cent (Modern) 2015 1C Shield, RD - PCGS CoinFacts