Would this 1811 large one cent "straight grade?"...

Hi,
Here are some pictures of my 1811 large one cent. As you can see it's well worn. I think it's the normal S-287 as I don't see a "1/0" or a die crack on the reverse. That being said, I do see a dark bar across the bottom of the obverse over the date. I think this is cabinet or envelope toning. This particular coin was in a 3-ring coin display holder, and I think the bottom of the coin slipped down a little so it was obscured at the bottom for probably several decades.
I am considering sending it in to a TPG for grading but am concerned this bottom toning will generate a "details" grade. What do you think?

 

Log in or Sign up to hide this ad.

Why would you spend the money to have it graded, even if they would? You can see with your own eyes what the grade would be, and it has also been cleaned to death. Just put it in a nice holder for an 1811 example. I don't think that it could even qualify as "poor" for grading. Still, it's a very scarce coin.

 

You’d never recover the cost of a TPG on this coin in this condition. It’s a hundred dollar coin in AG-3. If yours was graded it would probably get a details genuine grade and that in my opinion, would only say it’s not counterfeit. At best it may get a P or poor grade so why bother to grade it? What’s the point?

 

@Collecting Nut and @Bill in Burl
Thanks for the speedy reply. My thought was that IF it straight grades and IF it gets a PO-01 grade, the it's a candidate for a "low ball" collector. If you look at GC for the historical sales of an 1859 Indian Head penny (a very common coin), the auction price for grades 2 through 6 range from $11 to $41 in the last couple of years. However, two coins which were rated PO-01 sold for $214 and $228. I see this phenomena in other previous auctions where the price spikes for a straight grade PO-01 coin. That was my thought for this coin that if it gets a PO-01 grade and if it's a straight grade, then the price could spike. Maybe it's wishful thinking, so that's why I made the post to see if the darker toning could disqualify it for a straight grade although I do think it's a candidate for PO-01. Thoughts?

 

If the coin was certified as a P-01 grade that only guarantees the coin is a genuine 1811. In a coin that’s extremely worn like your photo shows, it is very difficult to tell.
To me, even with severity and low survival rate of this coin, I don’t feel it’s worth having it graded. You’d be taking a big chance for very little profit. I’m not sure if the toning around the date would affect the great or not. I think the reverse is an AG-3 and the obverse is lower.
Between the difference in the grades of the two sides and the toning just that the date I just can’t justify doing it. However, that’s just me and my opinion. You’ll have to weigh the cost of grading, shipping and any insurance you choose to take out against what it might bring at an auction. If you’re looking for a P1 grade on this cooling to satisfy a low ball collector, that’s an additional risk on your behalf. I would proceed with caution, but you’re the only one that can really make the decision. My best wishes go with you.

 

@Collecting Nut - thank you for the wise guidance. That's why I posted it here as I wanted to get other, experienced, real world opinions, and I have. I will stand down and move on to other coins and leave this one as is.

 

That coin has had a long and hard life!

 

There is a registry of the worst known coins which got a straight grade. I don’t understand it, but people pay big money for these terrible coins.

The wear on this piece looks uneven and the color suggests cleaning. Both factors would make paying to getting this coin graded a waste of money. Aside from the “poorest known example” for a registry, grading this is not worth it.

 

If it was determined that the wear was natural it would straight grade a P-01. I don't think the little notch on the reverse right of 9 o'clock would give it a details grade but who knows.

 

The leading grading companies, NGC and PCGS, discovered that the registry concept was a goldmine for their products. Collector demand soared for their products as a result, and drove up the prices for high grade and “top pop” coins.

The idea expanded to draw in collectors who didn’t have the money to buy the best pieces. This included the “every man’s sets” which, I think, are made up of AU-58 graded pieces. It also included this “worst graded” registry set, which expanded demand for getting worn out coins slabbed.

It’s all to make money. You can play or ignore it.

 

I had an 1811 large cent similar to this when I was kid. It was the overdate, and there was enough left to see the "0." It was a wee bit sharper than this one, but the wear was more even. The surfaces were not bad, but I'm not sure if it would have gotten a straignt grade. I think Gimbels gave me $4 for it in trade for something else.

 

I think that newbies or folks who have started collecting in the last 5-10 have been exposed to so much TPG talk that they think that ANY coin that they get that looks a little different HAS to be cert'd. This is especially true for everyday pocket change from 50-60 years ago and/or coin designs no longer being minted.