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re: Damsel in Distress

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dennis edwards

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Another aphorism to consider: "Don't throw good money after bad."

You've learned the hard way that there are very few grading services worth spending your hard-earned money on. Now you have to avoid trying to correct one mistake with another. You should only have your coins graded if you believe that, after grading, the coins will be worth at least what they're worth in the current holders (probably next to nothing), plus the cost of the additional grading. That?s Economics 101. At $12.50 per coin for the grading, plus the cost of two-way shipping, very few PR67 state quarters would pass this test, and who knows how many, if any of your coins actually are PR67? It may be a safe guess that only the ones now marked PR69 will end up PR67 in an NGC holder. Without seeing the coins it's impossible to know for sure. And don?t forget, you?ll pay the $12.50 per coin even for those that are returned ungraded.

I'd suggest bringing them to a reputable coin dealer to get his/her opinion on which ones, if any, are worth the additional grading fees. Your mistake was making a bad investment because you got caught up in the excessive exuberance of the moment. You?re in good company, and you needn?t be embarrassed. The most important lesson to take away from your experience is to educate yourself first, then invest. If you apply that lesson here by learning a little more about your coins before spending any more money on them, the money you?ve already spent may not have been entirely wasted.

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