I'd rather be lucky than good...
gscoins
Posts: 313 ✭✭✭
...and my most recent PCGS grading experience proves the point, at least this time.
I am primarily a collector of non-US coins now, but started out as a collector of US coins (in 1973 with Hal Kritzman of Olde Towne Coin Co. in Newington CT, who sold wonderful Mercury dimes and Walking Liberty halves). Most of the US coins I owned were sold long ago (mostly to help pay for a house), but I kept a few of the lower-valued coins mainly because they were pretty.
The previous Collectors Club special related to coins with US presidents and I thought about putting together a small submission with four such coins. Unfortunately, I hemmed and hawed about it until it was too late to take advantage of the special. But, when I went to the Central States Show last month, I decided, what the heck, I'd still deliver the four coins for grading: two Lincolns (1938-S and 1942-D) and two Jeffersons (1940 and 1945-P). From a pure economic perspective, this made little sense, as it would take a home run to justify the costs. Still, I did it.
Well, I just got the coins back today. The '38-S is a 66 red, the '45-P silver war nickel is also 66. The 1940 Jefferson is Genuine, but with a wheel mark (I still can't see it!) that effectively makes it worth 5c.
So far a serious loss of $$$...except, to my shock and surprise, the '42-D was graded as MS67+RD. Here are its pix (taken with a cell phone):
A little research revealed that a '42-D in 67+ RD is very uncommon: only 52 in that grade and 4 better. It seems to be worth a few hundred dollars (way, way more than I paid for it many years ago), perhaps more if blessed by CAC.
I drew two conclusions from this experience:
I am a lousy grader. No way I saw a wheel mark on the Jefferson. No way I thought the '42-D was much more than, maybe, a 66+.
But, as I said, I'd rather be lucky than good. The 42-D result more than paid for the other three mistakes I made.
I suspect many of you have had similar positive experiences and would value hearing about them!
Comments
Sometimes with grading it's all luck and sometimes it's not thats a nice coin though!
HAPPY COLLECTING
Last year I got lucky purchasing a 1949-D MS67 RD Lincoln that had a mechanical error- was mislabeled 1949-S MS67 RD. The '49-D's are far fewer in that grade. I sent it back to NGC and had the label corrected at no cost. I noticed error before I bid; was an online auction, and lucky for me- I got the coin cheap!
It looks like there is a lot of luster on that cent.
Congrats. 3 out of 4 real nice coins.
I remember Olde Towne Coin in Newington. Needed to make an appointment just to enter the store, IIRC.
Life member #369 of the Royal Canadian Numismatic Association
Member of Canadian Association of Token Collectors
Collector of:
Canadian coins and pre-confederation tokens
Darkside proof/mint sets dated 1960
My Ebay
Harold taught a lot of people, myself included, quite a lot about Mercury dimes.
Your 42-D is really nice.
Let me know if you have any other raw 65/6 Lincolns you want to dump.
HOLY MOLEY! That is one beautiful 42-D!
The strike detail on Lincoln looks so good that it looks unreal.
Pete
Very nice, congratulations !!!
That is a great '42D...and a very good year
... How about a picture of the Jefferson wheel mark... so we can comment on it... Cheers, RickO
Done, although my pix may not be clear enough to enable anyone to see the wheel mark. As I said, I don't see it.
Me too
If somebody in coin market 1975-1989 nowhere to go but up.
After that nowhere but down or essentially touch and go.
that is a real nice cent you hung onto there, I like
Don't see the wheel mark either
I see a mark after the T in TRUST right along the rim...looks like it could be a wheel mark....ICBW... Cheers, RickO
I think I see the wheel mark. On the obverse, between the last “T” in TRUST , and the tab holding the coin in the slab. Right along the rim. Either it’s a wheel mark or a shadow.
Well, there's something in the spot jetstream and ricko identified, but I thought (and pretty much still think) it's some sort of toning spot. If it is a wheel mark, it certainly isn't very significant. But there's not much I see doing at this point. If I get to the ANA show in Chicgao, I'll bring it along and inquire at the PCGS table.
Thanks to all for the kind comments regarding the Lincoln. A pretty coin to be sure.