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Help with a grade guess for a newbie 1953 50C PR
gratefulgreg
Posts: 100
So I am pretty new to this coin world; I inherited my grandmother’s collection when my father passed away a few months ago and have been struggling with what to do with it. I’m not interested in collecting coins, mostly because I have too many hobbies already. Grandma worked in the Bank of America in Long Beach CA her entire career (1920-1964) and collected the entire time. She passed away in the early 90s and the coins have been in a safe that was not opened for years prior to her death, until just a couple of months ago. Upon looking in the safe and seeing what was there, I went to a couple of coins shops to ask their opinions of what I had, though I only took a few samples with me. Both shops wanted me to sell the entire collection, for what I consider not much $, so I began researching coin grading and sent in 31 different proofs to PCGS (from 1942-1963).
Long story short, I am somewhat disappointed at the grades I have been getting back. And, I’m not sure that it isn’t my fault; maybe because I am sending them in valued less than what they really should grade so PCGS is keeping the grade within those value limits?
So as a test for me, would you good people give me your grade guess for this 1953 50C proof, with any designations or attributes that you think should apply? I would really appreciate any help or advice. I’ve got all of these Morgans and Peace dollars and gold that I have yet to send in for grading, but I don’t want to waste the postage and grading fees on the coins are not going to come out graded relatively high.
Long story short, I am somewhat disappointed at the grades I have been getting back. And, I’m not sure that it isn’t my fault; maybe because I am sending them in valued less than what they really should grade so PCGS is keeping the grade within those value limits?
So as a test for me, would you good people give me your grade guess for this 1953 50C proof, with any designations or attributes that you think should apply? I would really appreciate any help or advice. I’ve got all of these Morgans and Peace dollars and gold that I have yet to send in for grading, but I don’t want to waste the postage and grading fees on the coins are not going to come out graded relatively high.
The tools of conquest do not necessarily come with bombs and explosions and fallout. There are weapons that are simply thoughts, added to prejudices to be found only in the minds of men. For the record, prejudices can kill, and suspicion can destroy, and a thoughtless, frightened search for a scapegoat has a fallout all its own, for the children and the children yet unborn, and the pity of it is, that these things cannot be confined to the Twilight Zone.
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Looking for another photo hosting site; I'll be back.
I'm not a half expert so I'll pass on the grading. Keep in mind that the graders get to
see the coins in hand and in the correct lighting and with a loupe. Any guesses here
on the forum will be just that, guesses. See the thread I have below yours that has
GTG in the title. Fun, but not accurate.
Proof coins are the best of the US struck coinage. However, any and I mean any flaw
will show up. Just a little thing like improper storage over the years can make a difference.
So, welcome and keep the posts coming. A lot of coins don't need to go in for grading
if she pulled them from circulation. They most likely will be common dates but then again
she could have had her eyes out for certain dates. She could have picked and chose as
those were the days of yore when they circulated.
Keep the pics flowing, you'll get a lot of helpful info here.
Don't forget to check out the PCGS photo grading here on their site. Excellent resource
and free!
bob
I can take better photos, just have to find an image host that allows them to be huge.
Mark
<< <i>Pcgs does not grade the coin according to your declared value.The 1953 Franklin you have looks like a nice 65/66 cameo.But understand those are not my strong point in grading. >>
You got the grade right, it is the cameo thing that has me perplexed. Out of the 15-50C proofs I sent in, I had guessed that at least 5 would be cameos, this 53 being one of them, and possible even the 56 a deep cameo.
Same goes for a few of the 1C proofs I sent in.
No cameos or deep cameos...
<< <i>If you want to sell it email me at datentype@hotmail.com >>
Don't be shy- tell him your offer right here.
<< <i>
<< <i>If you want to sell it email me at datentype@hotmail.com >>
Don't be shy- tell him your offer right here.
Yeah, throw it out there!
<< <i>I was wondering how long before the sharks started to circle. LOL >>
No sweat, I've got a big boat...
and I'm in no hurry.
<< <i>...and I'm in no hurry. >>
That's a good way to proceed. You'll do better if you take the time to figure out what you have before accepting offers. JMO, of course.
Congratulations on inheriting your grandmother's collection. It may have sentimental value to you in addition to economic value. If you have any interest at all in the subject matter [coins] and if you do not need to liquidate the collection immediately to raise cash to use for other urgent matters, I would go slow and learn about the hobby and the coins in the collection before you start disposing of the coins.
The persons here on the forums are a great source of advice, knowedge and expertise. The best part is that it is free. You only need to spend some time on the computer and some time looking at and inventorying the coins.
We like hearing stories about inherited collections, so if you are open to doing so, post updates about the collection and what you find in it. Pictures of the coins are also appreciated.
You can use the search function on the forums to search for prior threads on various topics. Just type in a word or words [for example "proof franklins"] and up will pop multiple prior threads that contain vast amounts of information and pictures.
If your grandmother had a good knowledge of what coins to look for and pull out of circulation she may have put together a collection of copper, nickel, silver and/or gold coins with substantial value.
If she collected during the 1920-1964 time period while working at a bank she provbably will have encountered circulated coins [lightly circulated and like new all the way down to heavily circulated and worn out] dating from the 1890's forward. She may even have found circulated coins dating back to the civil war.
With respect to uncirculated coins, she could have obtained brand new coins from the bank's cashier's drawers dating from 1920 [maybe even back to 1910] forward to 1964.
These coins would possible include all of the Lincoln Wheat cents, all of the Buffalo nickels, some of the last Liberty nickels, all of the Jefferson nickels, some of the last of the Barber dimes, quarters and halves, all of the Mercury dimes, all of the silver Roosevelt dimes, all of the Standling Liberty Quarters, all of the silver Washington quarters, all of the Walking Liberty halves, all of the Franklin halves, all of the Peace dollars, some of the gold $2.50 and $5.00 incuse design Indian quarter and half eagles, some of the gold $10.00 Indian eagles and some of the gold $20.00 Saint Gaudens double eagles.
She may also have acquired silver classic US Commemorative coins [minted from 1892 through 1954].
She also appears to have acquired proof coins [single coins and or year sets]. Proof coins were made by the mint for sale to collectors from around 1858 through 1916; from 1936 through 1942; from 1950 through 1964; and from 1968 to the present. Individual coins and complete sets could be purchased through 1942. Starting in 1950 proof coins could only be purchased as a complete set for any given year.
She may have also purchased Mint Sets. Mint Sets were made from 1947 through 1958 in a format where two coins of each denomination and from each mint were included in a set. The coins were placed in cardborad holders and paper wrapping and envelopes for those years. The coins sometimes tone in beautiful colors. Mint sets from 1959 forward were placed in plastic, sealed, packaging [thus no toning devleoped on the coins] and the sets had only one coin of each denomination from each mint that produced them.
She may also have known about "varieties" and "error" coins. For example the famous 1955 doubled die Lincoln Cent; or an off center strike of a coin.
All of the above and more [maybe non US coins and maybe Pattern coins] may be included in the coins in your inherited collection.
Some coins may be of modest value. Some may be worth substantial dollars.
To protect the collection, make sure that the coins are kept in a dry environment. Do not allow them to make contact with each other or with other surfaces that are rough. Avoid having the coins jostle around and get damaged with marks and dings and scratches. Proof coins have very delicate surfaces that can be damaged with even the slightest contact. Handle the coins by holding onto the edges of the coins.
If you have not done so, purchase a copy of the most recent edition of the Red Book. That book has substantial information about all US Coinage, plus retail value listings by date and mint mark and pictures or every coin series. The values in the book are a very rough guide and many times are not even close to being accurate.
Again, congratulations on inheriting your grandmother's collection. Whether you keep it or sell it, have fun and enjoy the ride.
If the fields on your coin are hazy, depending on the type of haze, it may be easy to remove same without damaging the coin. If so, removing the haze may result in a coin with a Deep Cameo level of frost and mirrors. 1950 - 1959 Deep Cameo proofs of any denomination are extremely hard to find and can bring substantial dollars when sold. Thus if any of the proofs from the 1950's receive a Deep Cameo designation you will be very lucky.
For 1936-1942 proofs Cameos are very rare.
Deep Cameos for those years are virtually impossible.
If you have time, post pictures of the other Proof Franklin haves you have and pictures of any 1936 to 1942 Proof Walking Libery Halves you have.
<< <i>If she collected during the 1920-1964 time period while working at a bank she provbably will have encountered circulated coins [lightly circulated and like new all the way down to heavily circulated and worn out] dating from the 1890's forward. She may even have found circulated coins dating back to the civil war.
With respect to uncirculated coins, she could have obtained brand new coins from the bank's cashier's drawers dating from 1920 [maybe even back to 1910] forward to 1964.
These coins would possible include all of the Lincoln Wheat cents, all of the Buffalo nickels, some of the last Liberty nickels, all of the Jefferson nickels, some of the last of the Barber dimes, quarters and halves, all of the Mercury dimes, all of the silver Roosevelt dimes, all of the Standling Liberty Quarters, all of the silver Washington quarters, all of the Walking Liberty halves, all of the Franklin halves, all of the Peace dollars, some of the gold $2.50 and $5.00 incuse design Indian quarter and half eagles, some of the gold $10.00 Indian eagles and some of the gold $20.00 Saint Gaudens double eagles.
She may also have acquired silver classic US Commemorative coins [minted from 1892 through 1954].
She also appears to have acquired proof coins [single coins and or year sets]. Proof coins were made by the mint for sale to collectors from around 1858 through 1916; from 1936 through 1942; from 1950 through 1964; and from 1968 to the present. Individual coins and complete sets could be purchased through 1942. Starting in 1950 proof coins could only be purchased as a complete set for any given year.
She may have also purchased Mint Sets. Mint Sets were made from 1947 through 1958 in a format where two coins of each denomination and from each mint were included in a set. The coins were placed in cardborad holders and paper wrapping and envelopes for those years. The coins sometimes tone in beautiful colors. Mint sets from 1959 forward were placed in plastic, sealed, packaging [thus no toning devleoped on the coins] and the sets had only one coin of each denomination from each mint that produced them.
She may also have known about "varieties" and "error" coins. For example the famous 1955 doubled die Lincoln Cent; or an off center strike of a coin.
All of the above and more [maybe non US coins and maybe Pattern coins] may be included in the coins in your inherited collection. >>
She did all of the above it seems, some more than others: Proof and mint sets, almost all Morgans, all Peace $, $1 gold, quarter eagles, half eagles, eagles, double eagles, almost all Indian 1C, BU rolls of key date 1C, mint sets, etc.
<< <i>Some coins may be of modest value. Some may be worth substantial dollars. >>
That is the trick, eh? Figuring out which are which...
And how to "clean" them properly if doing so would enhance their potential value. Like this 1878 CC Morgan. She kept the Morgans in these cardboard booklets and some became discolored on the reverse; due to chemical reaction I imagine. So, would dipping something like this help or hurt it?
<< <i>Don't dip anything. There is an art to doing it correctly. There is no hurry to dip. You can always dip but you can never un-dip. >>
Oh I'm not going to dip anything. I imagine I'll have someone that knows what they're doing perform the process, if indeed any needs done.
The discoloration has me worried on a few of the Morgans though.
Would they even grade this one? Or just slam it in a "genuine" holder?
<< <i> You need to find someone to provide a more informed opinion to help guide you along. >>
That's why I'm here.
<< <i>You folks has incredible knowledge that I hope to glean a little from. >>
People here *are* helpful, but there comes a time when the people helping you will have to see your coins in hand- images posted on the internet will only get you so far.
<< <i>Not too many people in northeast Oregon also inhabit the coin world. >>
If the potential value of your coins warrant, you might think about investing in a tank of gas or a registered mail shipment to get them to someone with the experience to help you out.
-Paul
wow ! The TPG's are so tight on Cameo's now -it's not funny
seems to me now anyway, the coins have to have Deep Mirrors -don't need heavy frost but got to have deep mirrors
it takes a good long while to learn the Cameo/D.Cam ropes
might be true. It may add substantial value (or little if any). So, don't mess with
the coins in any way. Do not clean, polish, dip, erase or otherwise mess with them.
Hold by the edges and avoid getting your fingerprints on them. OTher than that
have fun!
Oh, that CC from 1878 is just fine the way it is and would probably grade with no problems.
bob
I am being extremely careful with the coins, not touching anything but the edges, keeping them in the safe in a stable environment. I did pull the gold, Morgans and Peace Dollars from the booklets and stuck them in vinyl flips, very carefully.
I guess I didn't realize it was unusual to send in 30 or so coins at a time for grading. It was kind of a tool for me to try and learn more about grading. I checked them out very thoroughly with a loop and guessed grades using the online photo grade info. Apparently I have much more learning to do, what a surprise!
Does anyone here know of honest, reputable dealers in Boise area, or eastern Oregon that might be helpful if I took some of this collection to their business? How would one compensate the dealer for the time to help me figure out which coins are worth grading and which ones are not? And, what would fair compensation be?
Maybe I should start another thread asking these questions...
<< <i>Does anyone here know of honest, reputable dealers in Boise area, or eastern Oregon that might be helpful if I took some of this collection to their business? >>
I have dealt with Mike at Canyon County Coin in Nampa for a number of years and believe him to be reputable.
<< <i>How would one compensate the dealer for the time to help me figure out which coins are worth grading and which ones are not? And, what would fair compensation be? >>
Once you settle on a dealer, call him and ask him those questions.
If you want a review and evaluation of the collection with an opinion on value [wholesale and retail] and with recommendations on which coins to submit for grading, expect to pay for the dealer's time [usually an hourly charge]. If you do not want to sell at this time make sure the dealer knows that.
If you are open to selling, realize that dealers most often do not pay retail. In fact many dealers do not even pay close to wholesale. There are many ways to sell coins. Some ways [EBay and the BST on these forums] do not involve a middleman. You sell directly to other collectors. You can also consign coins to auction houses.
Instead of having a dealer review your collection, you could consider finding out if there are any collectors participating on the forums living in the Pacific Northwest who would be willing to meet with you at a neutral location to talk and review a sampling of the coins. If things go well perhaps the entire collection could be reviewed. Many forumites like to help others who find themselves with an inherited collection, mainly because they like to look at coins. I have done this a couple of times through contacts made on the forums.
Again, as you go through the collection and make an inventory, consider summarizing what you have in a post to the forums. You can expect lots of interest and helpful advice from the people here on the forums. You can also expect many requests from people to buy the parts of or even all of the collection.
Have fun.