Is is worth it to get coins graded?
Slb1221
Posts: 33 ✭
Slb1221
Posts: 33 ✭
Slb1221
Posts: 33 ✭
Comments
Sometimes yes and sometimes no.
And welcome.
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Well you are posting on a message board that is run by the top grading service in the business... so I'm thinking most here will say yes
But of course, would depend on the coin. And the costs depend on the coin too... but expect to pay at least $30 or so per coin.
Michael Kittle Rare Coins --- 1908-S Indian Head Cent Grading Set --- No. 1 1909 Mint Set --- Kittlecoins on Facebook --- Long Beach Table 448
Your question is very broad. As a rule of thumb, if a coin is worth over $200 it may make sense to get it graded. I say may, because there are other factors that go into that decision. So not all coins, but ANY coin of rarity or higher value should (not must) probably be graded.
The old rule of thumb used to be that a coin had to be worth at least $200 to get it graded. With economy submissions you might be about to lower that amount. Of course there are instances were people have coins slabbed for "uneconomic" reasons.
If you have a fairly nice coin that is worth at least a few hundred, getting it certified will probably allow you to get a better price for it. If you have a coin, like a 1909-S-VDB cent, that has been frequently counterfeited, I think that it is mandatory. When I was dealer I would never sell a raw one, if I had bought it bought raw. I would advocate this for most any pre 1934 U.S. gold coin as well, which is in a decent state of preservation for its kind.
Given the prevailing market that heavily relies on third-party grading, I think it is almost imperative to have your coins graded before attempting to sell them. Otherwise, be prepared to leave a lot of money on the table. That said, have the coins looked at by a trusted dealer or seasoned collector before sending them off for grading (some of them may be obvious 'no grades' that you should not spend more money on).
More than half of my coins are raw (some bought that way years ago, some cracked out of their holders). Grading standards have changed enough (during the last decade even) that I see no value in getting them professionally graded until I am ready to sell them.
RMR: 'Wer, wenn ich schriee, hörte mich denn aus der Engel Ordnungen?'
CJ: 'No one!' [Ain't no angels in the coin biz]
Yeah, I know what you mean. Right now, I'm contemplating to go ahead and grade a VG 1864 "L" Longacre Indian Cent, that has been cleaned and has a few scratches? The cost for grading might exceed the value of the coin in the end?
The reason that I want to grade it is for the authenticity.
"Jesus died for you and for me, Thank you,Jesus"!!!
--- If it should happen I die and leave this world and you want to remember me. Please only remember my opening Sig Line.I don't think that it would be worth the time and money to have this coin certified.
Do you have a full size pic of your avatar? I'd like to see it actually.
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You're probably right! Even my Dealer friend said what you said. His words," save your money!". Thanks for the advise as well. -joey
"Jesus died for you and for me, Thank you,Jesus"!!!
--- If it should happen I die and leave this world and you want to remember me. Please only remember my opening Sig Line.My avatar? Do you mean, my Dad's Dollar?
"Jesus died for you and for me, Thank you,Jesus"!!!
--- If it should happen I die and leave this world and you want to remember me. Please only remember my opening Sig Line.If so, here it is. but sorry for the blurry pics.
"Jesus died for you and for me, Thank you,Jesus"!!!
--- If it should happen I die and leave this world and you want to remember me. Please only remember my opening Sig Line.I ask because I just came across several Morgan dollars, and peace dollars. Most of them are still silver in color (shiny) and show very little wear. I was thinking of getting some air tite rounds or slabs for them. right now they are in a tube. any suggestions on storage?
Found these on amazon, thinking of putting them in these?
StikiBiz.weebly.com
The first one (on Top) are the ones I suggest. Send some in to our Host (PCGS Grading)
"Jesus died for you and for me, Thank you,Jesus"!!!
--- If it should happen I die and leave this world and you want to remember me. Please only remember my opening Sig Line.If you find a key date coin in almost any series that is not in a professional graded slab you stand a real good chance that it was minted in China any more.
That is a little harsh. There are a few dealers who still stock mostly raw coins. I suppose that they serving some segment of the market. Most of these dealers from what I've seen are decent at spotting counterfeits.
Yes, bells do go off in my head when I saw a raw key date coin, but usually I'm wondering what the defect is. Counterfeit is certainly in play, but I won't say that most all of them are counterfeits.
Sometimes it's worth it. Usually, it should be a coin which carries enough collector value to warrant spending the $25 plus dollars to get it in the holder. And getting it in there without a problem is part of the key to success. I don't think buying sight unseen raw coins will get you where you want to be. If buying in bulk to get low prices is your goal, the opportunities are endless. Getting coins worth grading ? It's a crap shoot.
Only if the coin is worth being graded
Are there any key dates in Morgan and Peace dollars?
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Yes, too many to mention. For the Peace D. the 1921 would be one of them. For the Morgan D. the 1878cc would be one.
One More Thing... If you have the 1895 Morgan Dollar, well, get ready, you now can buy yourself a brand new CAR!!! Big Money for that date in the Morgan. 
Check on the price guide for the Dollars on the PCGS site. You'll find a ton. Good Luck! The Morgan Dollar is my all-time favorite coin.-joey
"Jesus died for you and for me, Thank you,Jesus"!!!
--- If it should happen I die and leave this world and you want to remember me. Please only remember my opening Sig Line.@Slb1221... Welcome aboard.... You are doing the correct thing... asking questions prior to action. I am sure you can get more specific (certain coins you have) and will get direct advice. Self slabbing or air tites are great for those coins not worth paying the fee on... Cheers, RickO
That's really cool! I like that.
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You should buy a Red book. A good coin book to start off with.
Maybe buy coins already certified to begin with. PCGS and NGC only.
I will look through them tonight to get some more specific dates. Thanks for all the help.
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sorry I have not had time to take any photos, maybe by the weekend?
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The costs depend on volume. I figure roughly $30/coin for 20. I like to do it if I feel it will increase the value of the coin by at least that much. Some people certify for sentimental reasons as well.
could you explain this a little more? I'm not sure I follow.
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That means that If you send in 20 coins for grading on an economy submission it works out to be about $30 per coin. (closer to $27 with Secure)
The last post (clarkbar04), made me really think of the OP's question. 20 Coins sent to our Host is a good thing, but, that would cost at least $600! That $600, can be used to buy a real, real nice coin! Sure, I realize, the positives of having your coins graded. ESP. by PCGS, but still, $600? Multiply that by 10, $6000? What great coins are out there for $6000? Many, many, many. H-m-m-m-m-m-m?
"Jesus died for you and for me, Thank you,Jesus"!!!
--- If it should happen I die and leave this world and you want to remember me. Please only remember my opening Sig Line.f you submit your own, you need to join the collector's club. You may live near a PCGS authorized dealer who will do it for you. Fees and process can be figured by following link. There are cheaper options with other services but they also not as good.
https://pcgs.com/onlinesubmission/
That is true, but you have to consider what you could sell for raw vs. graded. In the case of raw common date choice to very ch morgans which do quite well on ebay and otherwise extremely liquid, probably not worth the extra expense, and many remain raw.
What about a good standard as far as self grading? Not to increase value, but to just be able to know about what you have. How do you determine if a coin is bu,AU,choice, very choice?? What are some general rules?
Does the Red Book have that info?
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Red book is a great place to start. Pcgs
Photograde and coin facts apps are free and are a great way to determine a relative value prior to spending any money on grading.
I generally use 300 as a value worth grading. To each their own.
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Toned coins are one area where a coin really needs to be graded by a reputable TPG. Without that it's almost impossible to sell a toner no less sell it at a reasonable market value. Usually the $20/$16 is an investment well spent.
"Red book is a great place to start. Pcgs
Photograde and coin facts apps are free and are a great way to determine a relative value prior to spending any money on grading. "
For circulated coins, these help. However, learning to grade reasonably well requires access to lots of already graded coins. Pictures alone won't do the job. Many raw coins have been worked on, so learning to spot alterations is another ball of wax. Ditto for counterfeits. Above about AU50, there are multiple ways to arrive at a grade---this is yet another reason for searching for grading tips from sources other than books, DVDs, or the internet. Take an ANA grading class (preferably a couple of them), or find an experienced mentor.
RMR: 'Wer, wenn ich schriee, hörte mich denn aus der Engel Ordnungen?'
CJ: 'No one!' [Ain't no angels in the coin biz]
For your reference these are the links to Photograde and PCGS CoinFacts; both are tremendous resources for a beginning collector.
Much cheaper ways to do this than by sending coins in for grading. The ability to differentiate between a slider and a truly UNC piece is of utmost importance, as is the ability to differentiate between a light cleaning and friction from circulation. This is learned by looking at coins and starting threads and asking questions.
The 3 areas of focus on UNC coins are luster, strike, and contact marks.
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"Is is worth it to get coins graded?"
ON THE FORUM THAT SELLS COIN GRADING
Of course it is, to someone's benefit.
Great post though, seriously.
No charge. Glad to help.