Coin Grading or Not
newtonscoins
Posts: 1 ✭
Ok, I am new to this, so... I just recently looked at my coin collection for the first time in almost 50 years. After reading numerous websites about coins, I'm still unsure what to do. I have probably have 500-750 coins, mostly wheat pennies, but a lot of other denominations that I got from relatives when I was young. If I understand what I've read on numerous sites, it said that my 1909 S VDB should get graded no matter the condition (it's not in great condition), but I also have 2 other 1909 VDB's (no S) that are in pretty good condition (I've looked a photos in PCGS, but I still aren't sure of the grade). Is it worth getting all 3 1909 VDBs graded?
I'm not sure I'm going to sell these, possibly just handing them down to my son and then on to my grandson, so I thought getting 8 coins graded might be a nice thing to do as a gift to them. I realize it will cost me around $300+ for this given PCGS membership and fess/mailing, etc. I also picked out what I consider to be 'higher quality' coins (again, my guess) like 1928 S, 1930 S, etc , that I want to maybe have graded, as they seem to be worth it?.
And finally, (sorry for the long post) I have a bunch of 1957-Ds some of which have a 'die chip' (B in Liberty is filled in). These coins are (I think) probably 67 or better (again, my guess). They were originally called B/U back then. Should I have a few of these graded? If I do have it graded by PCGS, do they note the Die Chip on their slab as some type of mint error?
Thanks all, and again sorry for the long post.....
Comments
Welcome to the forum!
Your 1909 S VDB may be worth grading just to authenticate it is genuine.
If you are able to post clear photos of it here you will get opinions on if it is genuine so you don't waste money on a fake.
Good chance your no S VDB's are not worth grading, but you can post photos for opinions.
Your 1957 with a die chip are common, if you research BIE die break you will find examples across many dates.
@newtonscoins .... Welcome aboard. Yes, get the '09S VDB graded. You could join PCGS or go to a coin shop and have it sent it with one of their submissions... If you are going to get several coins graded, it may be worth joining, since if you join at the proper level, you get free submissions. Check out their website for membership. Post a picture of your '09S VDB, members will let you know if it is authentic. Buy a Redbook on coins... a real big help when you are researching your coins and also can help you learn a bit about grading. Cheers, RickO
A current edition of A Guidebook of United States Coins (the redbook) should give you a relative idea if you have anything with a value that's worth grading. Plus it has basic grading descriptions that can help get a ballpark value. Doing that should narrow your list, then you can post a clear pic here to get opinions.
Even if you don't have anything besides the SVDB, at around $15, the redbook is still a great buy as a reference.
The costs relating to Third Party Grading are considerable. The decision to have them graded or not should be made with cost versus benefit in mind. Many collectors now feel that coins should have a minimum ACTUAL retail value of at least $200 to make third party grading feasible. You need to go over your collection and take the time to determine actual values in the present market. Don't be in a hurry. The chances are that most of the coins in your collection will not be worth the cost of third party grading.
If you can get to a major coin show, take the 09 S VDB there. Often times PCGS will have a representative do a free valuation of a coin at specific times at the show. Expect a line. Ask if he thinks it is genuine. If yes, submit it then and there.
When I submit coins (and I don't do this often), I go to a show so I only have to pay for postage and insurance one way.
The only Lincolns I think worth submitting for grading are the 09 S VDB, the 09 S, and the 10S through 14S only if they are have most of their detail. The 14 D and 31 S are also in this camp. Except for the 22 P, unless you're looking at several mint errors, which an untrained eye can't spot, most of the others aren't worth much, unless they look like they just came from the mint.
"Seu cabra da peste,
"Sou Mangueira......."
Hello and welcome!
50 years? What a break!
As others have said, if you're only considering a one-time submission, there's probably no reason for you to buy a TPG membership. If you can tell us in general terms where you live, we can probably suggest a nearby dealer who submits coins frequently. Usually, for a small fee, dealers will let you piggy-back your coins on one of their submissions. It also saves on shipping.
the answer lies in what you are wanting to do with your collection, if selling via an auction route then getting them slabbed is a good option for the the higher value items. If you are just handing down then you can purchase airtight holders for just around a buck each and forego the expensive TPG slabbing.
My Collection of Old Holders
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If you have no intentions of continuing collecting, buying a book or joining PCGS or any other agency is not advisable. If the Lincoln coins other than the 09SVDB are not 14D or 31S in higher grades then not likely worth grading, shipping and handling fees. As stated previously, go to a dealer and see if you can piggyback whatever coins you wish to have certified/graded. Please do post straight on photos of the obverse and reverse of each coin you feel you wish to send in and get the forum's opinions. Hope all goes well for you. I have my original Lincoln collection from 60 years ago(mostly from change) in and old Wayte Raymond album and none of mine are really worth grading other than the 09SVDB(which I sold last year along with the 14D and 31S) which were certified.
Jim
When a man who is honestly mistaken hears the truth, he will either quit being mistaken or cease to be honest....Abraham Lincoln
Patriotism is supporting your country all the time, and your government when it deserves it.....Mark Twain
your post isn't too long.
yeah. lots of allure in the VDB coins, but the 1909 (not from S) VDB need to be high grade to make them worth submitting.
the 1909 S VDB send it.
someone above mentioned a 22 P, there is no 22 P. There is a 22 with the D missing.
tiny die chips don't add to the value.
post a picture front and back, well lit, of what you think is the highest grade coin you have. may as well post the best die chip coin you have.
as mentioned a local coin store with submission abilities can submit for you for less than what you can do yourself.
keep the questions coming.