Key/Semi dates with VF-EF grades

Discussion in 'Coin Chat' started by richarrb, Jun 17, 2010.

  1. richarrb

    richarrb Junior Member

    Hello, I was just curious what the general consensus was when it came to sending in coins to be officially graded. I just picked up a 1931 S wheat and I believe it is around a VF-20, however I am still new to coin grading, and I assume with key dates and semi key dates it does not hurt to send them in for grading. It probably comes down to personal preference but I was just wondering what other people typically do?
     
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  3. desertgem

    desertgem Senior Errer Collecktor Supporter

    Hi Richarrb,

    With a VF or even XF '31S, with the cost of grading at PCGS or NGC a single coin, with postage and insurance, represents a good portion of the value. If you post a photo here, opinions on the grade can be given. I would keep the coin in a protective holder and wait until you had a group of coins to reduce the cost of grading.

    The 31-S Lincoln is a strong coin, but it was known rather early, and a large number of MS and AU coins were saved. Notice how flat the price increase is from VG to AU.
    IMO and Welcome to the Forum!

    Jim
     
  4. Tom B

    Tom B TomB Everywhere Else

    I agree with Jim. The grading of circulated Lincoln cents can be agreed to amongst most collectors and the costs associated with getting such a coin certified can be substantial with respect to the cost of the coin. In this instance I would keep it uncertified.
     
  5. kanga

    kanga 65 Year Collector Supporter

    The greysheet has a VF '31-S Lincoln priced at about $110.
    If you are not concerned about cost then go ahead and have it slabbed.
    BUT
    Be aware that NGC requires that:
    - you have to join (about $100 and you get 5 freebie Economy submissions for that price)
    - you have to submit at least 5 coins at the same time when using the Economy category.
    I think it's $17 for each coin (x5 = $85) plus S&H both ways.

    I assume PCGS has a similar pricing structure.

    My "rule of thumb" is that the total cost of have a coin slabbed should be no more than 10% of what I think the coin is worth which means around $200.
     
  6. physics-fan3.14

    physics-fan3.14 You got any more of them.... prooflikes?

    Generally if you expect a coin to be worth less than $300, the cost of certification doesn't make any sense at all. Even then, the $30 you will spend is 10% of the value of the coin. You have to realize on a $120 coin that's a full 25% of the value! Now, if you got the coin for a ridiculously good price (and you are certain its problem free), that still might make sense, but usually it won't.
     
  7. cpm9ball

    cpm9ball CANNOT RE-MEMBER

    Just trying to be helpful!

    The Premium Membership at NGC is $109 and renewals are $99. With that, you receive a certificate for 5 free EarlyBird submissions (a $150 value).

    The Elite membership at NGC is $249 and renewals are $229. This entitles you to the free EarlyBird certificate above as well as a 10% discount on the tier charge for all successive submissions.

    Chris
     
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