1966 Lincoln Cent question 0

[RandyK6371]

I tried this on another coin forum page and was insulted. I'm not exactly new to coin collecting, been doing this for over 60 years. My question. I was in an antique mall and saw a 1966 penny in a 2×2 flip label with only 1966 and a price sticker. I know that the 1966 was minted as a business strike and for a special mint set. This coin is in exceptional condition and maybe a possible grading candidate. The lady at the counter has no knowledge about the coin and the owner, not present, may not also. This booth was actually other types of stuff and only a handful of coins. My question is how can I tell if the penny is a business strike or special mint set coin? The type could make a difference in its grading potential. 

RandyK6371

[VKurtB]

If it is a SMS coin, it has to be waaaaaaay magnificent to be worth grading. It probably is an SMS. However, if it is not, but kind of looks like one (I have a quarter like that), it can bring a big number. I do not know the diagnostics for the cent.

Edited January 24, 2020 by VKurtB

[RandyK6371]

Kurt, this is exactly my predicament. I would love for it to be a business strike but I just don't know!! And also it could be the DDO because I see doubling in TRUST.

Edited January 24, 2020 by RandyK6371

[kbbpll]

What is the price, i.e. how much of a gamble is it? What are you hoping for? I don't know anything about these so I could learn something. From looking at the price guides, it seems like the only real money is in a regular MS67RD or above, an SMS cameo or deep cameo, or one of the DDOs. I'm probably missing something.

[Coinbuf]

While its possible that you found the needle in the haystack the odds are that what you have is an SMS example.  SMS and proof set prices from the 60's and 70's have tanked to the point that dealers are paying face value when these come in off the street breaking them apart and spending the coins into circulation.  But as you haven't provided us a picture its really just an exercise in guessing for us at this point.  I suggest that if you want to know then submit the coin for grading and see what the experts think.  As for a DDO variety vista lists only one for 1966, it brings a minimal premium because most of the people that are looking for these minor DD's are cherrypickers who want to find one themselves rather than buy one.   So I wouldn't be to concerned about that unless you want it attributed at the time of slabbing, which does cost extra.

[VKurtB]

I bought my ultra-high grade non-SMS quarter already NGC slabbed, and I got it for a song because only I, among the other bidders in the room, realized it was a business strike, and not a SMS coin, from the way it was described on the slab label. That's what I love about back-country Pennsylvania coin auctions. Lots of lazy bidders not thinking outside the box. Same with my PCGS MS66FS 1939 Reverse of '38 nickel. I "stole" that one too.