Need some serious advice on this key date coin

BleedBlackandGold

First of all im a metal detector. I just started this year and i'm a bit new to coins in general..So today i was out at a old church site from 1800s and found 2 coins 1 of which was a 1901 IH and the other being a Wheat penny. This is what they looked liked when i dug them!!



Then i picked up a price guide....(lol i know sounds pathetic but hey if i find them i want to make sure they are not worth millions..yea right) anyhow i notice the 1901 IH is pretty much worthless so when i get home i used a pencil eraser to get some dirt/grim off it. It would clean up real nice. can even see liberty in the headband. So i figure well i will atleast see what yr the wheat penny is and it turned out to be a 1916. So what should i do. Your all professionals in my mind so please advise. The metal on both these coins are nice. Although there is real heavy grim. Should i send away for cleaning or not think anything of it!!

tightbudget

I wouldn't have used a pencil eraser to remove the grime. Erasers are abrasive and can leave some nasty hairlines on coins. I would take some acetone and soak the coins in there for a while.

Broadstruck

Eraser's are nasty!

Soaking in Olive Oil for few days works too.

Thankfully no harm is done as neither is a key date coin

JZrarities

Congratulations on your finds.

I know how hard it is to find anything beyond the normal Clad stuff...

This should be the start of your New Adventure in Collecting Coins.

(go to your nearest Coin Shop and start looking around and asking questions)

WaterSport

OK, first, these are NOT key coins. Just because they are OLD, does not make them worth much, being dug up, makes them less valuable due to corrosion, being erased, worthless. Enjoy spending them, or keep them as your first coins you dug up.

WS

seatedcoins

Sounds like a fun hobby. Lordmarcovan has a lot of success with his metal detector. If you find silver soak the coins in pure acetone(rinse in distilled water when finished, for copper use olive oil.

roadrunner

They can be purchased in problem free condition for under $2 for the pair. So they are not key date coins. But they are very collectible.

roadrunner

ldhair

Key dates?

BleedBlackandGold

As i stated earlier in the explanation I know nothing about coins. I got a price guide and it states if this wheat was minted in S in MS65 condition its value is $7700.00 I figured that made it a key date i apologize. I understand these coins are far from mint but cut me some slack geez..!! thanks anyhow guys

StrikeOutXXX

As others have said, they are not key dates, and not worthy of sending anywhere to get cleaned perse.

I too metal detect, and what I'm about to say, I only recommend with non-numismatic value metal detecting items, but here is what I do after I carefully check for true key dates.

I soak them in acetone first - I usually dump them in a jar and forget about them for a few days, or even a week. This is a 1902 Indian head after I left it in acetone for about a week. It was about as crusty as your 1st pictures before it went in.



Then in a small glass jar, I put some standard over the counter hydrogen peroxide in (about 1/2 inch or so) in the microwave for 25 to 30 seconds, sometimes another 10 or so seconds, just until it semi-boils. Take it out and drop the coins in the peroxide, they will bubble and get rid of the majority of what's left behind. Same coin as above after about 15 minutes in the boiling peroxide:



From there, all my metal detecting finds go in a flip, and into my detecting treasure chest. I don't co-mingle my MD finds with the coin collection unless I someday find a rare key or something. You can repeat soaking in acetone and then back to boiling peroxide a few times if you really want to clean it up, but that's about all I do with the MD finds.

LincolnCentMan

You can probably get a quarter to fifty cents for the indian. The 1916 is worth about two cents. I wouldnt spend money.... or even postage on getting them conserved. They are, however, really cool detector finds. Just think how long that indian's been in the ground. Geez.

-David

doh

Don't apologize. Many early Lincolns in high grade are expensive because so few survived in high grade. They're plentiful in lower grades which keeps the prices down on most of the date. Your coins, while not terrible valuable, are still very cool and imagine the story they could tell!!

Swampboy

<< <i>cut me some slack geez..!! >>

BleedBlackandGold

<< <i>As others have said, they are not key dates, and not worthy of sending anywhere to get cleaned perse.

I too metal detect, and what I'm about to say, I only recommend with non-numismatic value metal detecting items, but here is what I do after I carefully check for true key dates.

I soak them in acetone first - I usually dump them in a jar and forget about them for a few days, or even a week. This is a 1902 Indian head after I left it in acetone for about a week. It was about as crusty as your 1st pictures before it went in.



Then in a small glass jar, I put some standard over the counter hydrogen peroxide in (about 1/2 inch or so) in the microwave for 25 to 30 seconds, sometimes another 10 or so seconds, just until it semi-boils. Take it out and drop the coins in the peroxide, they will bubble and get rid of the majority of what's left behind. Same coin as above after about 15 minutes in the boiling peroxide:



From there, all my metal detecting finds go in a flip, and into my detecting treasure chest. I don't co-mingle my MD finds with the coin collection unless I someday find a rare key or something. You can repeat soaking in acetone and then back to boiling peroxide a few times if you really want to clean it up, but that's about all I do with the MD finds. >>



I have much gratitude towards you, I understand im not going to get rich off finding dirty coins. And i dont understand key dates i guess. I only metal detect for a cheap hobby and its a blast. Is there key dates for wheat pennies at all and IH because i have found IH this yr so far and tons of wheats. If i do find a key date what should i do? Thanks again!!

BleedBlackandGold

one other quick question if you find a coin as cruddy as mine were how do you find if it is a key date?

StrikeOutXXX

<< <i>I have much gratitude towards you, I understand im not going to get rich off finding dirty coins. And i dont understand key dates i guess. I only metal detect for a cheap hobby and its a blast. Is there key dates for wheat pennies at all and IH because i have found IH this yr so far and tons of wheats. If i do find a key date what should i do? Thanks again!! >>



While there are exceptions to every rule, for most older copper, don't bother looking in price guides for anything above the Good or G4 column for prices. Even that 1902 Indian Head I showed you would probably only be called VF or Fine Details/Corroded. If I tried to sell it to a coin collector, I would be lucky to get $1.50 for it. I've found some older ones that "Book" $40-$50 or so, but again, in the condition they usually come out in, they're $10 coins at best as fillers. Don't get me wrong, you find the right colonial or true key date coin (Look at your price guide again, things in Good/G4 over $75 is usually a good place to start for this era of coins key-date and semi-key date ones) and it would still probably have a market, although about 1/3- 1/2 the price listed.

Where a lot of metal detectorists pay for their machine is in finding silver (or gold) coins... they don't hardly corrode, and other than some discoloration, are usually in nearly the same shape as when they were lost. You can do the same acetone/peroxide trick on them, or ask in the metal detectorist forum, there is another trick with some washing soda for silver coins, but don't ever rub/scrub them until you know for sure what you have.

JimK

Hi,
Congrats on the nice finds. I too do a little treasure hunting occasionally. I'd like to say thanks for the great advice there StrikeOut, I really appreciate it.
As far a finding key dates, this website has mint numbers:
Coin Facts

And this website has values:
PCGS Price guide

Enjoy, and good luck with your treasure hunting!
Jim