Deciding which coins to have graded.... 0

[LLC0669]

Hello everyone.  I am very new to collecting and I've never submitted a coin for grading. There are several reasons for this, not the least of which is that I don't know how to know which coins are worth submitting.  I don't have a lot of money for collecting and most of my coins probably aren't worth much but I find them fascinating and I enjoy "the hunt".  That said, I have a few coins that I would like to have graded mostly out of curiosity (Indian cent, some large cents, walking liberty halves, for example). It's too late to make a long story short but here's my question: How does one decide when a coin should be graded?  Do people have "average" coins graded?  I have always associated grading with more valuable coins or high grade coins.  I'm thinking if I can afford to have a coin graded to satisfy my curiosity then that's reason enough.   I'd love to hear your thoughts on this.  

[Jason Abshier]

Welcome to coin collecting ! First thing to do is learn how to grade coins buy books or study online at graded coins . Secondly look online see if your coins are “common date” coins most coins are common. Third , depends on how many coins you want to send for grading ? Grading isn’t cheap when you add it all up + shipping + insurance to ship Thats (both ways to the grading company and back). Those are some of things you need think about , perhaps you might be able to sell your common coins , save up a little more money and just buy the same coins already slabbed/graded from a dealer . I see a lot common coins are in graded holders already there no need for me to buy them raw and go through hassle shipping them to grading company ...

However I myself collect old old world coins sometimes I do buy them raw when I get about 10-12 raw coins I’ll send them in for grading . Usually it’s only for coins that are valued over $100 I feel they should be in graded holders. That’s just me , I even have Raw gold coins that look nice but I won’t send them in grading just because it’s gold means nothing to me other than precious metal . I also have a lot raw silver bullion from around world as well, I’ve see some people had them graded then try sell them Online for a wacky high price just because it was graded and slabbed doesn’t mean anyone buying it so sometimes a lot coins aren’t just worth grading . But there that’s old saying “to each their own, do as they please for themselves” it’s your money do what you want to do 

Edited June 5, 2021 by Jason Abshier

[Mr.Bill347]

Rule of thumb, if the coin has a value of $100 or more or has significant family value, or if it is a highly collectible variety then it is worth the cost of grading. Grading will cost upwards of $60 including shipping both ways (25) for return shipping plus (5) for original card container return. So there is submission tier cost 15-30 and special labeling fees, conservancy fees etc. if you are doing it for collecting purposes only, it’s a personal choice. Keep in mind it takes 4-6 weeks after NGC receives the item. Research each Coin on NGC coin explorer and NGC census. 
welcome to numismatics. Enjoy your hobby and good luck. You can always post clear pictures of obverse and reverse of each coin here for very professional opinions.

[Jason Abshier]

2 hours ago, LLC0669 said:

I don't have a lot of money for collecting

When I was younger and my kids were little I barely had any money for collecting those kids literally sucked the life out of me, I was working 2 full time jobs as well . I used save up little money each month at end of year around Christmas time I would buy myself a few coins. Now a days the kids are all grown up and moved out of the house I have freedom to buy coins on monthly basic . I often said “collecting isn’t about how much money you have , it’s about the love and passion for collecting” these days everyone new joining the hobby thinking they have buy expensive coins to be part of the hobby it’s not about that .

[LLC0669]

Thank you all for your replies and your insights.  Unless my financial position changes (i.e. win the lottery 😂) I'll likely never have a super valuable collection of coins but the hobby brings me enjoyment.  I guess one reason I've thought about getting a few graded is that it might help me be more educated about what I'm seeing.  I read and look at pictures and research coins but I don't really know enough to trust that I can see the difference between a G, VG, VF, etc.  I'm learning what to look for but often I buy a coin because it appeals to me and it fills a hole in my collection.  Did I overpay?  Sometimes...probably.  Yes.  So...maybe I'll take the suggestion from Mr.Bill347 and post some pics and see what you all think.  I wasn't sure if that would be ok and I don't want to be "that person".  😬 Not sure if it's better to start a separate thread or post pics here so I'll start here for continuity's sake.  These are the best pics I could manage of this 1829 half.  It was advertised as VF but I don't think that's the case.  

Edited June 5, 2021 by LLC0669
added info about grade

[Jason Abshier]

The front of the coin looks “Very Fine” , but the back of the coin is worn down more looks “very good” or “good”  2 different grades on that coin if you look at it that way but eagle is pretty worn down to the shield 

Edited June 5, 2021 by Jason Abshier

[JKK]

There is no particular dollar threshold that applies to everyone for grading purposes. It'll cost $30-60 for most coins. I know what kinds of coins I can buy for those amounts. I'd ask myself whether I'd rather have another coin, or grading and slabbing of one I already own. If you were a pure investor, you'd probably establish a dollar percentage threshold, but what would it be? 1%? 5%? 20%? That gets into investing and what you think you might gain by paying to have it slabbed. With some coins it'd be a moot point--they have to be slabbed for buyers to feel confident in authenticity/cleaning status. The question would always be whether you would recoup the grading cost. That does not sound like how you collect, so dollar thresholds become nonsense.

And if you aren't an investor/vendor, the question becomes purely one of personal taste, and whether you'd like to spend $30-60 on a grade and plastic or on a coin. If it's one you think needs some serious protection, and you'd rather have the opinion and the plastic, go ahead if you can afford it. I would not, however, do it as a way to educate myself about grading. Why do that when you could buy already slabbed coins on which someone has already eaten the grading cost? Then you'd have not only a certified grade but another coin in your collection without having to mail it in and wait. So much less hassle

Collect however you want. If you just want to protect a coin, there are ways short of slabbing: cardboard/mylar flips, clear plastic saflips, hard plastic airtites, even homemade slabs. But your best move is to buy a grading book, start looking closely at your coins, and begin the climb up. Assume that a lot of dealers will overgrade by about half a grade to a full one (bargain with them accordingly). Learn which coin types are most heavily counterfeited (trade dollars, famous rarities). If you want an opinion, take good sharp shots of obverse and reverse--just as you did here--and ask for grading opinions. Ask people why they graded it the way they did. We have some people here who have no idea what they are doing and do not realize that; just being here doesn't make someone a Really Great Numismatist. There are major areas in which to learn: grading, authentication, alteration detection (such as cleaning). The second two are arguably as important as the first. It's a lifetime of learning, though, so it can stimulate your mind for the rest of your days.

Speaking of which, I wouldn't grade that bustie even close to VF. From my ANA Grading Standards (a good purchase for you to learn grading), a reverse eagle with all the wing detail gone like the one pictured can't get even VG. G-4, definitely, with the caveat that the obverse is nice. I love busties even when they are worn, but they are as they are, and the wear is heavy but the eagle is fully outlined. The reverse can only lower a grade, never raise it, goes the conventional wisdom.

I get it. When people are new to collecting, there are personality types that prefer "doing it right." I laud and respect that mentality; it's the same one that runs the string trimmer after mowing, puts the creamer back without letting it sit out, and gets their vehicle serviced as the manufacturer recommends. The natural default thinking, for that personality type, is that to do coin collecting right you need to have coins graded by a service. And it's completely not true. I have been collecting for fifty years and have never once myself sent a single coin in for grading. I've bought a few slabs, no regrets, and there are some coins I wouldn't buy unless they were slabbed, but in the end I just always wanted another coin more than I wanted the plastic and the opinion. Other people have very specific collecting interests (say, uncirculated busties) and are trying to build the most beautiful certified sets they can; for them, slabbing might make a ton of sense. In the end, though, the only "doing it right" that exists in coins is: learn grading, authentication, and alteration detection; don't clean them until you 100% know wtf you're doing; don't damage them with stupid accidents; don't reward bad vendors with business. Learn which are the good vendors and treat them with respect, and you'll typically get a lot of extra knowledge and discounts.

[VKurtB]

6 hours ago, LLC0669 said:

Do people have "average" coins graded?

Many do, but nearly no one SHOULD.

[LLC0669]

1 hour ago, JKK said:

It's a lifetime of learning, though, so it can stimulate your mind for the rest of your days.

For me, collecting really is a fascination with the history and a desire to learn so I appreciate this comment.  Thank you for your thoughts.

[Coinbuf]

It would be difficult to say it better than @JKK did, you have indicated that you are on a limited budget.   As that is the case I would very much discourage you form sending coins like the bust half in your photos.   That coin is a nice album coin but not a coin that should ever be sent in for grading and slabbing.   Use the power of the internet  to your advantage and look at photos, guides, and the other resources that are available to you.  Disclaimer do not use youtube as a learning tool, there is good info there but too much garbage that you have to sift thru to find the good info.   Use your funds to go to shows and coin shops, just look (not buy) at as many coins as you possibly can in person and ask questions if you don't understand why a coin is advertised at a certain grade.   Be a sponge and soak up knowledge, do not be in any rush to buy as the coins will always be there when you are ready.

 

[JKK]

1 hour ago, LLC0669 said:

For me, collecting really is a fascination with the history and a desire to learn so I appreciate this comment.  Thank you for your thoughts.

You're welcome. You will find that there are many, many ways and styles of collecting. The only thing wrong with that is those who insist that their style/way is the only correct one and that all others are pointless. There are many ways and styles I do not understand, and/or that differ radically from the mainstream, and I'm welcome to that opinion, but I have no moral right to castigate them any more than they have to shower open disdain on my way. That's why grading, authentication, and alteration detection make such good starting points. Everyone needs those in order to obtain good collecting value for his or her money. Armed with good understanding in those areas, you'll do well at any style that appeals to you. You'll make mistakes (I call them "tuition") and that's okay. It's how we learn.

Other good areas are the mechanics of minting, a bit of metallurgy and chemistry (lot of overlap there, naturally), and of course the historical interest that brought you to the hobby. My own interest in ancients began when my Roman history professor brought in some of his early Imperial stuff and taught us how to read the inscriptions. Your interests may also evolve. As a child, I collected only US coins; as a multilingual adult with a background in history, I gravitated more toward world and ancient coins. Sometimes it lands on you, like when I bought an estate collection of Afghan/Indian stuff including Mauryan punchmark pieces, jitals, Indo-Greek, Kushan, and various Afghan/Moghul issues. It helped to read the Arabic alphabet, and to be willing to learn to make out Devanagari, but those are the sorts of things that promote new interest and deep dives. They can be learned. That learning is part of the fun and growth. For me, it is the intangible reward.

You're here for the right reasons and I think you will find it as rewarding as most of us here do. But "rewarding" is subjective and personal. Only you have the right to define it for yourself. My advice is to ignore anyone who tries to superimpose his (I've never seen a woman do this) concept of "rewarding" on you.

Edited June 5, 2021 by JKK

[Woods020]

It may just be my phone screen resolution, but does the color look off to anyone else? I know it’s partially lighting but it looks almost copper on my screen. 

[VKurtB]

4 hours ago, Coinbuf said:

It would be difficult to say it better than @JKK did, you have indicated that you are on a limited budget.   As that is the case I would very much discourage you form sending coins like the bust half in your photos.   That coin is a nice album coin but not a coin that should ever be sent in for grading and slabbing.   Use the power of the internet  to your advantage and look at photos, guides, and the other resources that are available to you.  Disclaimer do not use youtube as a learning tool, there is good info there but too much garbage that you have to sift thru to find the good info.   Use your funds to go to shows and coin shops, just look (not buy) at as many coins as you possibly can in person and ask questions if you don't understand why a coin is advertised at a certain grade.   Be a sponge and soak up knowledge, do not be in any rush to buy as the coins will always be there when you are ready.

 

This is a GREAT post. When you get the chance, when a dealer is NOT busy, most can be chatterboxes. Take advantage of that. Go to coin shows or fairs. Talk to people. Some of the best stuff I ever learned was at the “Rest Stop Area” of major shows and striking up a conversation with guys looking over their finds. 
 

Despite my gruff persona here, former ANA Convention Director Rhonda Scurek used to put me at tables with terminally shy people because she knew a was a “people person” who could draw people out and get them talking. My political experience. She asked me to “give the politician treatment” to introverts. 

Edited June 5, 2021 by VKurtB

[J P M]

4 hours ago, Woods020 said:

It may just be my phone screen resolution, but does the color look off to anyone else? I know it’s partially lighting but it looks almost copper on my screen. 

It looks copper on my PC also could be the lighting

Edited June 6, 2021 by J P Mashoke

[LLC0669]

33 minutes ago, J P Mashoke said:

It looks copper on my PC also could be the lighting

I believe it is the lighting.  The coin actually appears more gray on the background while the raised areas have a brownish tone.  I'm not sure what that means or if it's "odd".  I took another set of pics in hopefully better light to better represent the color.