Discussion in 'Coin Chat' started by Gnobodyuknow, Aug 9, 2019.
Make that a REALLY BIG grain of salt.
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Many many coins sell decently raw without grading. In the end grading is a 3rd party opinion on what the grade is, done by supposedly qualified graders (gonna have to take their word on that though they could be hiring anyone to do it though for all we really know and the rest is for show) anyways, if it's a rare coin or a conditional rarity, and there's a big gap in prices between grades it might be best to get the coin graded because if the difference between AU55 and AU58 were $500. The buyer is always going to call it a AU55 and the seller is always going to call it AU58. It takes the subjectivity out of it for the most part. This is the situation where grading really has its value. Another situation is like with rare coins that are counterfeited frequently. Getting them graded pretty much tells a buyer it's legit, and also give the owner peace of mind knowing that a 3rd party believes it to be legitimate also.
The vast majority of coins don't have this big of a value gap between grades or need to he verified as authentic. Along the way though the idea that everything should he graded hit the collecting community. It's good for the grading companies for sure, it's how they stay in business but it makes for less knowledgeable collectors that can't grade, don't want to learn and just want a slab... I guess lazy collectors.
I mean the grading companies at this point will even grade a struck screw if you pay them. MS64 in fact! Lol.
How the heck that is a MS64 is beyond my understanding hahahaa!
I'd say if you do send a coin for grading, be certain it would at least sell for $150 and that you don't have $150 into it already. Figure it will cost you at least $30 for grading and $30 for shipping both ways, do the math before sending it. You'd want to be able to recover that cost, and what you have into the coin, then the rest is profit after that.
Other than that it's a losing proposition but people still do it all the time because they think wrongly that it's necessary to be done.
I'd say don't send anything for grading unless it will certainly make you more money, and if you are buying possibly buy graded coins if the price is right or you want that peace of mind a 3rd party opinion might provide you.. in other words, let someone else pay the costs speculating on grade and buy the coin, not the holder.
Please look at this 1966 Roosevelt dime below and let me know what you think. The letter with the coin photos will explain what I believe, please let me know your thoughts.
1966 Roosevelt Error Coin?
I believe this 1966 Roosevelt coin is most likely the rarest coin ever found, I have had it for over 30 years.
If you look close you can see that when the coin was struck the thin layer of silver used was not enough or completed in the machine it was in, but it was stamped with just half of the thin layer on the dime.
When you look under a microscope you can see all the details of the coin strike, but with the copper coin below the silver layer is exposed, even along the edge on the copper side is much thinner than the opposite side, looks like it should have that missing layer, but it wasn’t there when the coin was struck.
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I have not seen or heard about an error coin like this in all the error coin books since that time, and I wonder what this coin would bring if sold at auction? Could it be a one of a kind?
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No. Don't highjack someone else' post. Create your own post. And never post your email or personal information. Read the rules for this forum.
@joeinslw - as mentioned, please post your question in its own thread instead of in someone else's discussion where it is irrelevant to the topic being discussed. Email addresses are a no-no here- we use private messaging for contacts. And nobody can tell you anything without seeing pictures of your coin.
@Mountain Man - please do not directly quote posts with rule violations, as we then have to edit your post as well.
Here is a 1943 Steel Cent that is in "close to amazing condition." This one is PCGS graded MS-66. I paid $25 for it years ago. At that price the original owner probably would not have gotten back the cost of getting this piece graded. These coins have to sing, dance and do summersaults to be worth the grading fee. Very few of them qualify.
Just curious then. With this much wrong with the coin what would your opinion be on its grade? Would it even make it to an MS state or down in AU or even AU details but damaged? Just curious and expanding my learning.
That would be known as an impaired proof coin. It would grade likely in a proof 58 range I'd thinkcomparable to AU58, maybe down to 55. Now you may ask "why don't I ever see proof 58 or PR55?"
Because it's pretty valueless on the secondary market. It's fun to find a proof in circulation and makes a nice hole filler but with that much damage no collector of proof coins will want to buy it above face value. It's lost its proof collector value. It doesn't classify as MS or AU at all, it's a proof. Generally below PR60 nobody even bothers with grading anymore and just calls it an impaired proof coin.
Oh wow ok. Good to know. I have learned a lot during this thread. Thank you
and especially don't watch those two YouTube sites you mentioned. Both are just uninformed click bait.
The low prices might explain why you see them in circulation now and then. If a set has been broken up, and a Proof coin has some defect, it's worth face value or very close to it.
You are right. Most proof sets are not worth what the mint issued them for. Same is true for mint sets.
Joe, you are really beginning to...
Keep it up, and you will get the....
...from everyone. Then, what will you do?
Wait, but those youtube videos are.very informative. LOL.
But if you are just wanting to preserve it for future generations, a $1 airtite holder will do the just just about as well. Want a label to say something about it, whose it was etc.? For a little over $1 get a Coin World slab shell and put your own custom label in it.
Is this supposed to be demeaning to CA or TX or what?
Dang...don't do this unless you append at least a half-dozen smilies...
Separate names with a comma.