I want it get some opinions on my 1954 wheat penny. I've done some research and have seen some sale for quite a bit but was 100% sure if mine is worth sending to be graded. Any thoughts on whether or not I should?
So, is it worth sending or will it cost more to to have it graded than it would possibly make if it was to be sold?
Kookie..... When you play the odds with grading/slabbing coins, the odds are against you. Yes, you have a nice coin there. You will spend $30.00-$50.00 having it graded. If it comes back MS66 or lower, you lose. The cent will sell for less than the cost of submission. If yours is one of the lucky few that grade MS68 or better then potentially you could realize a gain. I wouldn't hazard a guess based on your photos...... On the other hand, if you want it graded to keep as a family heirloom, I think that is a worthwhile pursuit.
Kookie the cent is in good shape, its retail value is about .60 cents Id say ms 61-62, they were a low mintage for the 1950s but not scarce in any way. the obverse has a spot and some scratches, the spot will kill it from grading good. I hang on to them.
Coin investment types have been touting the 1954-P cent at least since I was young collector in the 1960s. I pulled a roll of them out of circulation in response to that. With a mintage of 71.6 million and many saved, we are not looking at the next 1804 Silver Dollar here. The piece you have would sell for a dollar retail. It’s the sort of coin where a dealer charges more for the time it takes him to package it for sale than for its numismatic value. Yes, the piece is worth many times it’s face value, but we are starting off with 1 cent, so 50 or 100 face value does not add up to a great find. It’s worth holding on to it, but it’s not worth spending money on it to get it graded unless there is some great sentimental value attached to it.
Kookie you should invest in a Whitman Red Book. there is much useful information. you can find used ones cheap, the new ones are around 16$
Welcome to the neighborhood! No offense intended, but we do get a lot of people who think they have found something special when the coin is older than they are. Keep the coin in a 2x2 or flip if you wish, but definitely don't spend the money to have it graded. Chris
@Kookie85 ...NGC lists the following for this year/Philadelphia... MS65/$22.30 MS64/$7.20 ...no listing for MS63, but you can extrapolate the value based on the other 2 values...I would hazard a guess of $4.00. This kinda puts things into perspective for you. Your pics show the coin is at least a 63 Red, imho, so if you spent $30 to certify/grade it, and you wanted to sell it, then you would have to sell for a minimum of $34.00 for its' value and to get your grading fee back. Of course, it could grade higher...and if it became the top pop then the sky's the limit. Don't hold your breath on that, though, that probability is a very low percentage. As has been mentioned, on the other hand, if it has heirloom status or belonged to a now deceased loved one, then getting it graded/slabbed to honor that person causes the coin to become priceless. Spark
