Grading Coins that are not mint state

boxeldercoin

Hi, I am new to this forum. My wife and I are both collectors of coins and currency and have been collecting for over 45 years. Through our coin club I help anyone for free who inherits coin collections or anyone who just wants to learn about how to collect properly. I am helping a family right now with a large collection with many key date coins and some high end coins. I talk to a national dealer as they wish to sell their collection and this is where the confusion comes in. This dealer told me that you should only grade mint state coins. Coins like 1909-s VDB unless mint state is a waste of money to get graded. I sent the coins to PCGS anyway as I feel any key date coin is worth having slabbed. Am I wrong to grade coins like 1909-s VDB, 1886 liberty nickel, 1932-d or s quarters in AU condition? I also sent in all the 1914-d cents. What do you think? Thanks, Jim

LindeDad

Key date coins are the one most often counterfeited so not getting them graded is very BAD advice. You did the right thing as the heirs will realize a lot more for them when graded.
to the forum I think you will like it here.

DeliaBug

Welcome!

Personally, I would have all of the key dates slabbed just as you have done. Just to prove authenticity more than anything else and it will make them much easier to sell. For the coins you are unsure of, you can take a guess at what it might grade and then check the PCGS price guide. For some coins, it may not be worth the cost of grading to send them in while others may surprise you. This would apply to both circulated and mint state.

mbogoman

<< <i>Key date coins are the one most often counterfeited so not getting them graded is very BAD advice. You did the right thing as the heirs will realize a lot more for them when graded. to the forum I think you will like it here. >>



I'll second that!

Cheers! And welcome!

greghansen

The examples you listed and any coins similar to those clearly should be authenticated and graded by a professional third party grading service. The advice you received was either misunderstood or wrong.

boxeldercoin

Hi, I am sure I heard right as he said I was wasting this families money by getting the key dates graded. He said only mint state coins should be graded and he would buy all the rest raw. This made me feel bad as I maybe I was doing the wrong thing for this family. The family has decided not to sell to him and sell to another dealer instead. I am doing this for free for the family and just want to make sure I am doing the right thing. Thank you for your help.

Timbuk3

Welcome to the forum. You'll gain
a great deal of knowledge and
information here

Kove

Definitely get all the key dates graded. It eliminates any question about grade and problems. One trick that some like to pull is to claim that some circulated coins were cleaned or had some other problem, and then lowball the offer. These issues are ruled out when the coins are in a PCGS holder.

Good job sticking to your guns and sending them in against that dealer's advice.

DennisH

Jim:

First, welcome to the mayhem.
Second, you did absolutely right in having the key dates graded. They're much more liquid that way when it comes time to sell or trade.

RichieURich

<< <i>Key date coins are the one most often counterfeited so not getting them graded is very BAD advice. You did the right thing as the heirs will realize a lot more for them when graded.
to the forum I think you will like it here.
>>



What he said. On both topics.

Raw 1909-SVDB cents, 1914-D Lincoln cents, etc. routinely sell for less than slabbed ones because of the concerns about authenticity.

I am a dealer, and I have sold those coins raw to other dealers, but wouldn't sell one raw to a retail customer.

stealer

Sounds like a dealer trying to swipe some coins for cheap. You made a good move sending those in for certification (also to make sure the coins are legitimate).
After getting them back, I advise you to look up this website: HA.com and open an account there and search through their archives so you can get a good feel for what the current market is for the coins.

mozin

The dealer is in business to make money, so why take his advice on this collection? Anything worth maybe $300 or more should be submitted to PCGS.

BryceM

There are many fantastic dealers who will give you reasonable offers for this collection. Beware though, that like deciding on surgery or buying a house, it might be wise to get more than a single opinion. You might also consider other options too (consignment at auction) for a large lot. If selling a raw collection, I'd send in anything worth more than $250 or so, anything commonly counterfeited, and anything I wasn't too sure about authenticity-wise.

amwldcoin

There are many coins which in mid to higher end circ grades which bring quite the premium in PCGS holders. This has come about,in part,due to the Everyman Registry sets. Early Copper,Seated, and Barber coins are a great examples. So many of the extant circulated examples just will not grade problem free.

As said above,There is never a downside to having key date coins graded. The only coins you mentioned I would not have graded are the 32D+S Washington quarters (unless nice AU's) as that series has been languishing for quite some time.

Nickcap

<< <i>There are many coins which in mid to higher end circ grades which bring quite the premium in PCGS holders. This has come about,in part,due to the Everyman Registry sets. Early Copper,Seated, and Barber coins are a great examples. So many of the extant circulated examples just will not grade problem free.

As said above,There is never a downside to having key date coins graded. The only coins you mentioned I would not have graded are the 32D+S Washington quarters (unless nice AU's) as that series has been languishing for quite some time. >>




First Welcome.


I second This statement. I have seen many nice AU58 Coins that are rare to get sale for ms61-62 money.

Also we have a buy, Sale, and Trade forum that some of these Coins can sale that will limit auction fees.

Welcome and please stay chat on this forum.

bronco2078

That sounds like a really great dealer they found. Its very touching that he doesn't want them to waste money getting those pesky key date coins slabbed .


Perhaps you should share his name in case others on the forum wish to sell to him.

DorkGirl

joeykoins

To School. Be prepared to soak up some knowledge! Your right on your thoughts of certifying the keys. No matter what condition. I would even certify if the coin is worth in the 3 or 4 figure amount,like stated in another post. Once again,Welcome to the forum.

astrorat

Welcome!

You received poor advice. Go with what others here have said. Since you have been collecting for over 45 years, I assume you have some decent "real world" experience as a collector and have a reasonable knowledge foundation. It sounds like you followed your instinct about having the coins certified and made the right choice. We look forward to your contributions to the forum!

Shamika

<< <i>I am sure I heard right as he said I was wasting this families money by getting the key dates graded. >>


I don't mean to be crass, but the guy is either an idiot or a crook. You did well to go elsewhere. There'll be disagreement about the value threshold, but in my opinion, any coin worth more than $150 should have PCGS or NGC authenticate it before selling

And welcome to our forum. Stick around.

lkeigwin

That dealer is out to lunch. You did the right thing.

Welcome to CU!
Lance.

johnny9434

welcome to the forums

roadrunner

I found the title to this thread rather ironic:

Grading Coins that are not mint state.


The fact that technical non-mint state coins are TPG graded as "mint state" all the time is another reason to get those supposed AU's graded.

Analyst

Roadrunner: << found the title to this thread rather ironic:Grading Coins that are not mint state. ... The fact that technical non-mint state coins are TPG graded as "mint state" all the time is another reason to get those supposed AU's graded. >>

I agree with Roadrunner and I have put forth similar points in several published articles in Numismatic News newspaper, CoinLink, and CoinWeek.com

Coincidentally, I recently wrote an article on ‘choosing grades,’ in which I discuss which coins should be certified, among other matters. This article includes my opinions and I certainly have respect for many coin enthusiasts who disagree and put forth opposing opinions.

‭Advice relating to Choosing Grades and Certification

‭Advice for beginning and intermediate collectors of U.S. coins

‭[‬L=Key Date Circulated Barber Quarters tend to graded by PCGS or ATS]http://www.coinweek.com/us-coins/circulated-barber-quarters-with-emphasis-upon-recent-auction-results-for-key-dates/[/L]