Serious advice/input on coin quality and time and funds spent to grade for auction purposes?

Discussion in 'Error Coins' started by Walter Marx, Jul 18, 2019.

  1. Walter Marx

    Walter Marx Active Member

    IMG_20190718_211755.jpg IMG_20190718_210507.jpg IMG_20190718_210603.jpg MVIMG_20190718_210312~2.jpg IMG_20190718_211312.jpg IMG_20190718_213911.jpg IMG_20190718_211054.jpg l look IMG_20190718_211941.jpg IMG_20190718_211251.jpg So, to be short. In my short time collecting I've bought one coin and sold one coin and it was the same coin . My wife and I are in pretty dire financial straights and I've got to try anything I can to produce extra cash flow. I have a few coins picked for possible grading and auction attemps and need solid advice. Ex. Will the coun have a better than most good chance of turning a profit that is worth the effort and cash put into the endeavor. So here is one of my 1982 DDR pennies. Not the absolute best looking coin in the world but of the few of this variety I own it is the better . I know they don't command an incredible amount in MS condition but I've never done this and thought it may be a good choice to test the waters. Any advice at all is greatly appreciated.
     

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  3. cpm9ball

    cpm9ball CANNOT RE-MEMBER

    @Walter Marx

    Your close-ups are too blurry, but it doesn't look like true hub doubling. Even if it were, I believe you would be wasting your money submitting it for grading.

    Chris
     
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  4. desertgem

    desertgem MODERATOR Senior Errer Collecktor Moderator

    If you frequent eBay, learn to use their search for sold items to see what your coin/grade/variety might go for. Grading and slabbing by a top TPG is tough as many only do the well known and in the literature such as CPG, etc. Then subtract for about $30-$50 for estimate of expense. Most TPGs charge more for variety grading. Others are cheaper, but the coins sell cheaper also. If a variety isn't in a top 50 category and XF at least , it will drain your capital rather than add to it. IMO,IMO as from experience rather than survey, Jim
     
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  5. Walter Marx

    Walter Marx Active Member

    I've checked it well, and have two other examples. If you like I can show you the markers. Sorry for the photos , I'll do my best, my equipment is lacking at the moment and I'm not in a position to upgrade at this time. Thank you for taking time to offer you assistance,it is greatly appreciated.
     
  6. Walter Marx

    Walter Marx Active Member

    I've done a good bit research as far as the market goes, they don't bring what they did when they were first listed but graded ,higher grade examples are seeing a couple Grand. Record was a little over $5,000 I believe.
     
  7. Autoturf

    Autoturf Well-Known Member

    Walter, I know its, tough, but to gamble on a return on an 1982 ld zinc, is very risky and it will take likely a month and a half, if in fact it grades well as a DDR, I can say I personally have never seen one sell that high, and to get good money you may have to sit on the coin a long time, these guys that do this and make a living, buy and sell thousands to even the numbers. for example. Im just saying its much easier to work for someone else for income. I certainly cannot make a living with coins. lucky to make $20 here and there, its usually just so I can buy something else. another coin. Good luck to you either way.
     
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  8. Hookman

    Hookman Well-Known Member

    Walter, how did that come about?

    Did you sell your coin to someone, then have second thoughts, and buy it back.....for more than you sold it for?
     
  9. desertgem

    desertgem MODERATOR Senior Errer Collecktor Moderator

    I sell maybe 5-10 coins a year, usually to local club members, Its a hobby not a living. I would starve if I had to live on coin sales. I would suggest looking for a part time gig with a coin shop to learn the financial possibilities of such. Jim
     
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  10. Autoturf

    Autoturf Well-Known Member

    I would too, its just my hobby. I avoid buying food sometimes to get the coin I want. lol.
     
    Last edited: Jul 19, 2019
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  11. Walter Marx

    Walter Marx Active Member

    No,bought it then about two years later sold it. Sometimes I seriously miss it though,lol. That coin for a good home.
     
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  12. Walter Marx

    Walter Marx Active Member

    That would be an enjoyable job, as for my personal collection though, I didn't spend the time I have invested in the hobby for the purpose of selling them so making the choice t give some up is a bummer but it'd be pretty irresponsible of me not to take charge and do what's necessary to keep my family above water, Every aspect of it is interesting to me so should I ever find myself short of things to do the I know I can keep entertained with coins and the related subject matter.
     
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  13. Walter Marx

    Walter Marx Active Member

    That's kind of the vibe I've been getting, and it is definitely a Gamble. I don't plan on making an attempt to strike it rich, it will remain a hobby but it's time I I got my toes wet in the grading pool, at least if just for the experience. My plan is to take no more than 3 pieces and send them off, I've decided to include just one penny, this one seemed worth a try. Had another one in mind and I'm not happy to say it's not to be found, hoping it turns up it was a 1941 DDO #1 which was in rather lovely shape and had that kind of imperfect wood grain striation in a two toned goldish hue, god i hope I find that one. Anyway, pondering my other two selection now. Thanks for the input, it's always nice to talk to someone with relatable interests
     
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  14. Hookman

    Hookman Well-Known Member

    Hey Walter, you wouldn't be the first to face financial difficulties and have to make hard decisions.
    Good Luck !!
     
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  15. Walter Marx

    Walter Marx Active Member

    That I know, sorry if I sounded whiny. All in all it's gonna be another enjoyable, entertaining and ,cross my fingers, a profitable endeavor. But I'm sincere when I say that I've never hunted e & v with hopes of any lucrative turnover, it's fun to me and I enjoy it, and with just a few years of collecting and learning there is still an entire universe of related experiences and knowledge to gather in the hobby to keep me busy and content.
     
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  16. funnycoins

    funnycoins no strike, no balls,no outs. Just give me an hour

    @Walter Marx sir, due to the economy, wild downward swings in supply and demand for graded coins, I suggest grade what you FEEL would bring a MS67 or higher as the attributed error will not bring what it costs to have attributed [this summer Dr. Wiles charges $18 plus insurance just for the error] look for the 1983 D or 1983DDR as those are worth instant money.https://coins.thefuntimesguide.com/rare-1983-copper-penny/
     
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  17. Walter Marx

    Walter Marx Active Member

    Thanks, the 83 DDR #1 is the coin I've hunted since the beginning. It has done a dastardly job of eluding me, I have a few 83 DDR #2s but I know they're not to desirable. As for the 83 D Ddr, I've got my eie out and have a bag of 83 D's waiting fory attention, a few of the DDO from that mint/year as well, have yet to find that prize pig , it'll happen one day. Thanks for taking the time to join in, it's appreciated.
     
  18. Walter Marx

    Walter Marx Active Member

    It's bed time on the Ohio River, keep it coming though, I'll be checking back in shortly. Thanks everyone!
     
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  19. funnycoins

    funnycoins no strike, no balls,no outs. Just give me an hour

    I just last week had a 1998 DDR attributed for $22.75 and now looking at another $45-55 to grade it . It won't grade high but one has never been found. Kinda like money in the bank. I plan on waiting quite awhile before submitting it for grading
     

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    Last edited: Jul 19, 2019
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  20. Walter Marx

    Walter Marx Active Member

    That coin has a great statue in the memorial. Looks like someone peeking from behind Abe. Neat if luck , sounds like you're having fun.
     
  21. Walter Marx

    Walter Marx Active Member

    I should be in bed but I picked up wierd one from the table top on my way there. Not sure what I'm looking at, it's a 52 D with a rather bizzare mint mark, doesn't appear to be D over S, maybe a chip, I should be looking this late as my eyes have been abused all day long. I'll get the best couple pics I can if you wanna take a swing at it but I really must retire.
    These photos are probably no help but it's 52 D with a very will mint mark. I'll get real pic come morning. IMG_20190719_035610.jpg IMG_20190719_035612.jpg IMG_20190719_035549~2.jpg IMG_20190719_035549~2.jpg IMG_20190719_034240.jpg IMG_20190719_035549~2.jpg IMG_20190719_034105.jpg IMG_20190719_035607.jpg
     

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