I have 47 like new 1958 wheat pennies. I don't think they were circulated. I see them go for an average of $34 each on ebay completed listings when graded ms66. What is the cheapest place to get them formally graded? Is it worth the time? Can I get anything out of them ungraded?
If you could post a good picture of one of the typical coins, someone here could give you an idea of grade. There's a pretty big difference between MS-62 and -66, so unless your coins are really high grade, it wouldn't be worth the cost or effort.
That's just a hideous Lincoln. Your better off just sending me this coin and all the others that look just like it, I'll be happy to discard these for you. :devil:
The chances of enough of them grading at 66 isn't great enough to overcome the cost of getting them all graded.
I agree as well. You can spend upwards of $30 to get each graded. I doubt they'll all come back at MS66 or higher. You'll lose more money if you send them in to get graded.
Getting them graded is a losing proposition. This is the most common Lincoln Wheat cent and they are still out there in mint state condition by the millions, no doubt. I've checked completed ebay auctions and you are correct that around $34 they seem to sell. However, having a handful of "like new" cents is entirely different than having someone who is expert at grading go through hundreds or even thousands of cents to send in the few best pieces. These MS66 coins that are graded are generally not sent in at random and are the result of long searches for the best coins. The odds are that if you sent all 47-coins in then you would be in the hole for quite a bit of money without any hope of digging out. If you use PCGS, which is the only company that will garner routinely large prices, then you will be paying $20 each to have the coins graded plus invoice fees and shipping both ways. It might work out to $24 per coin. Any coin less than MS66 will sell for less than $24 and it is likely you would have few, if any, MS66 coins. Right out of the box you would be underwater. Then you must take into account ebay and PayPal fees (about 13%) plus shipping to the buyer. You will lose money.
Thanks. This has really been helpful. How is the best way to pass these one to someone who wants them? What are they worth?
