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100 rolls of 1981 Lincoln cents
nesvt
Posts: 2,214
I have a relative that purchased a $50 bag of Lincoln cents in 1981. He placed them in the closet that day and just found them again this week. He's asking what to do a 100 rolls. We're on the east coast, so I assume they're 'P' mints. I know it's the last year before copper/zinc. I see high values in high MS grades. Do they really get these prices for MS67 and up? I know nothing about moderns. Is it worth going through them and picking out high grades for slabbing? Are the odds against me? Better to sell by roll? I haven't seen them yet. Not sure if they're in bank rolls or rolls from the mint. Thanks for any advice!
Norm
Norm
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It's unlikely there will even be any MS-66 in the bag but it's worth a quick look to see if there
are any nice die runs. Bags of pennies can be all over the spectrum from all junk to a mixture
of gemmy to junk to almost all Gems.
My guess is they'll bring the best price by the bag or in rolls. Otherwise they tend to be worth
less than shipping costs. The "P" wholesales at 90c per roll and the "D" @ 60c.
It will probably cost $30 to ship.
If there are nice coins then it can be a bonanza.
Good Luck.
peacockcoins
I opened one roll last night. Yeah, there were many coins with spots and little nicks. However, there were some that looked pretty nice. Problem is, I know nothing about Lincoln cents or moderns. I went to Heritage archives and pulled up PCGS slabbed MS67 coins. Enlarged the images. I see tiny nicks on some of these as well. Some in the roll I opened looked as nice.
So, I'm going to go through a few more rolls. Pull out the best. Take some pictures and post on this forum. I'll have to ask for help and suggestions from there.
Thanks in advance!
Norm
<< <i>Enlarged the images. I see tiny nicks on some of these as well. Some in the roll I opened looked as nice.
Norm >>
it takes a trained eye to recognize the difference between nicks from coins contacting each other and "nicks" that come from less than pristine die surfaces.
you can see these "marks" on the high-point areas of walkers, lincolns and more and i mean on 66 and higher grades.
on 66 and above, you will need a few factors to be considered and not the least is that if you miss, you are most likely buried financially.
if you have the cash, experience and quality coins, bulk-submissions (100 coins @ $8-10 each? for grading fees) are a saving grace if you know what you're doing. costly but saving simultaneously.
.
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So, I'm going to go through a few more rolls. Pull out the best. Take some pictures and post on this forum. I'll have to ask for help and suggestions from there.
You're doing it right. Get a X5 lens and it will help. Look for eye appeal and then start looking for the ones with the least number of hits.
I knew it would happen.
<< <i>Save your eyesight. Just take then to the bank and cash them in. Unless you are a real grading expert you are likely to waste a lot of time and money trying to get high grade slabbed examples from what you find in a mint bag. >>
^^^^^THIS^^^^^ They are probably spotted and ugly by now. Don't waste your time.
...they sound like great candidates for a newbie giveaway...
On bad strikes the steps will be flat or mushy. If between 10 and 15% of the coins (or more) don't have
a good strike then it might be a waste of time to check. I can spot check a bag in just a few minutes to
tell if there are any Gems.
With this date your odds aren't good but they are there.
Imagine if the relative had put the $50 into something like a stock mutual fund.
Liberty: Parent of Science & Industry
peacockcoins
<< <i>$1,058.00 for a PCGS MS66? Ah, jeez. . . I then click to confirm and see that particular coin was a minting error (struck on a dime…). >>
Problem: this generation thinks the government might seize it, like it's unlawful.
I will take some close-up pictures soon. Thanks again for the assistance.
Norm
If you are lucky to find an MS66RD it might be worth $20. But you'll spend more than that on grading fees and shipping.
Of the 500+ 1981 Lincolns PCGS has graded -- each, no doubt, from owners with high hopes of 67 or better because anything less is a money loser -- only 10% are graded higher than MS66RD.
Save your eyes for better endeavors.
Lance.