What condition is worth grading? 0

[Pisca]

I have been a coin collector for many years. I'm just a basic collector though. I don't know a whole lot about coins. As I get older, I am trying to learn more. 

Since I am not an expert, I came here. I have 3 coins I feel are in good enough condition to send off for grading, but would like others opinions. I personally don't see a reason to spend the money on a coin that will get a low grade. 

In general, what are your opinions on what condition is good enough for grading?

I attached pictures of the 3 coins I am considering. Any basic info, opinions, etc is welcome about any or all.

1. 1988 Silver Eagle

2. 1964 Kennedy Half Dollar

3. 1962 Franklin Half Dollar (I am not real sure on the difference between the Full Bell Line and "normal". Hard to see from the pics online.)

[bsshog40]

Just at first glance, I don't see anything worth grading fees! 

[JKK]

The question one should ask is: What's the motivation for grading? Not all cases involve maximizing value. However, that's the usual motivation, so let's work with that. In those cases, consider whether the added value would justify adding another $30-60 to the cost. For most coins not projected to clear $500 in value, the answer is usually nope. That in my opinion is the case with all three of these coins.

Pretty sure that the rub (or perhaps strike weakness) on the bell left of the crack would disqualify the Frank from a FBL designation. Because the bottom part of the bell is a high point, FBL is difficult. That said, I'm not an expert on FBL, so don't take my word on that as the last word by any means.

[Coinbuf]

In my opinion none of the three coins in your op are worth the costs of grading.   The 1988 ASE is one of the tougher dates for those coins, however, I just searched ebay and there is one listed as a buy it now for under $60 graded as MS69.

Neither the Kennedy or the Franklin look is though they would grade higher than MS64 from your photos, and the Franklin does not have full bell lines.

You need to determine what coins will have enough value added to them after you consider your purchase cost of the coin and all the costs and fees associated with having a coin graded.   As an example, if you bought the Franklin for lets say $5, and it costs $35 to have it graded/slabbed, but only sells for $30 as an MS64 (the grade I think it maxes out at) then you will lose money by having it graded.

[Greenstang]

Agree with the above, you would lose money having them graded. 

[Pisca]

On 1/3/2023 at 4:29 PM, JKK said:

The question one should ask is: What's the motivation for grading? Not all cases involve maximizing value. However, that's the usual motivation, so let's work with that. In those cases, consider whether the added value would justify adding another $30-60 to the cost. For most coins not projected to clear $500 in value, the answer is usually nope. That in my opinion is the case with all three of these coins.

Pretty sure that the rub (or perhaps strike weakness) on the bell left of the crack would disqualify the Frank from a FBL designation. Because the bottom part of the bell is a high point, FBL is difficult. That said, I'm not an expert on FBL, so don't take my word on that as the last word by any means.

In my case, it's not necessarily about the money. It's more about having something of quality. However, the value is a plus if an emergency situation were to arise and I needed to sell. 

[Pisca]

Thank you all for your opinions. I have not actually bought any of the coins I have. Either they have been gifted to me or I aquired them from a store. 

I am always interested in learning new things regarding coins..or anything else. 😊 

[JKK]

On 1/3/2023 at 2:38 PM, Pisca said:

In my case, it's not necessarily about the money. It's more about having something of quality. However, the value is a plus if an emergency situation were to arise and I needed to sell. 

Fair enough (all motivations are fair enough if carefully considered). Here's a thing I've noticed over time: People divide across various continuums in life, and one of those is the one between half-arsing things and doing them right. Take contractors, for example. In my experience, most will half-arse the work where they think they can get away with it. Very few will do it right just on principle. In bookkeeping, your typical small business owner will be less likely a half-arser and more likely a do-it-right person. I tend to learn hard to "do it right" myself, in all things. I usually countersink my screws and drill holes for them, for example.

In coins, I theorize that the new collectors driven toward having coins graded are often those who tend to the "do it right" side of the spectrum. They figure, understandably, that having them graded is the non-half-arsing way to collect. That's a major reason why they end up at a TPG forum asking about grading. It's also a misperception, because there are lots of longtime collectors who have never sent a single coin in for grading and doubt they ever will. I'm one of those, and hardly the only one.

So if you want my input as to doing coins right, TPG grading has little to do with that. It's much harder. Let's say you saved $120 not grading these (smart). Ask yourself first how much coin you could buy for $120, and whether you'd rather have that coin purchase than the dubious value of TPG grading in these cases. Or let's say you put $60 toward a coin and the other $60 toward books on grading, counterfeit detection, references. Then you'd really be doing it right because you'd start learning how to better evaluate everything you buy. You might learn how to avoid buying bogus coins, how to spot cleaning and why it's usually a lousy idea, and where the grade value thresholds take big jumps based on condition. You'd learn more about the best ways to preserve value and store/protect your coins. You'd grow very quickly in numismatic understanding. If it were me, I'd rather have all that than three pieces of plastic.

[Sandon]

    You really need to have a good deal of knowledge about the grading and valuation of coins yourself before you consider sending coins to grading services.  As a collector since 1971--fifteen years before PCGS originated the business of grading and encapsulating coins--I am bewildered by collectors nowadays wanting to pay more than the market value of their coins to send them to a grading service and have them placed in bulky slabs rather than determining the likely grade and value ranges themselves and enjoying and protecting the coins that don't merit third-party grading in much less expensive and compact albums and holders as I have long done.

   It doesn't appear from the photos that any of your coins could possibly merit the cost of third-party grading. Silver Eagle bullion coins are only worth a significant premium over silver value in Superb Gem Uncirculated condition (MS 68 to 70). Yours is uncirculated but has signs of handling (hairline scratches) that remove it from that category. Your 1962 Franklin half dollar and 1964 Kennedy half dollar would only be worth submission if they were found to be in Gem Uncirculated (MS 65 or better) grades. Both have too many nicks and abrasions from contact with other coins and are too lackluster to merit Gem grades. They may also have light wear and not merit uncirculated grades at all. "Full bell lines" on a Franklin half means that the two rows of horizontal lines near the bottom of the bell are complete all the way across the bell. Yours has a large flat area on the left facing side of the crack.

  If you wish to learn the basic knowledge that is necessary for success as a collector, please refer to the print and online resources in the following topic on this forum:

 

   

[EagleRJO]

On 1/3/2023 at 5:03 PM, Pisca said:

I have 3 coins I feel are in good enough condition to send off for grading, but would like others opinions. I personally don't see a reason to spend the money on a coin that will get a low grade. 

Other reasons aside (ease of selling a coin, registry set requirements, etc.), I would look at value in deciding if you should submit raw coins to be slabbed, not grade.  The all-in cost for grading is about $100 per coin, which will only increase the value of an average circulated coin somewhat as a minimum.

So if you have say an average circulated raw coin that is worth about $100 and you submit it for grading, you have actually lost money, because you are left with a coin only worth a little more than $100, but you have spent about $100 on grading.  Opinions vary on this, but I would say an average circulated coin needs a value of at least around $300 for it to be worth grading.  

Value is dependent on the coin series and the condition or grade, and in my opinion the grade of a coin is the most difficult to learn how to establish.  Concerning that see the post and references by @Sandonabove as a good starting point.

Edited January 4, 2023 by EagleRJO

[GoldFinger1969]

On 1/3/2023 at 5:41 PM, Pisca said:

Thank you all for your opinions. I have not actually bought any of the coins I have. Either they have been gifted to me or I aquired them from a store. I am always interested in learning new things regarding coins..or anything else. 😊 

We're happy to help you, Pisca. 

If a coin has SENTIMENTAL value, then even if it might not be worth it from a monetarily POV to submit to grading and the resultant fees.....you can make a case for doing it to preserve and protect the coin.  Of course, you'll also be paying for the grading plus the holder...and you can always just buy a protective holder solo if you prefer.

When you decide how serious you are going to pursue this hobby, and you determine what coins you will be seeking, you can check the price guides to see if you should be buying raw or graded coins.

[GoldFinger1969]

On 1/3/2023 at 5:41 PM, Pisca said:

I am always interested in learning new things regarding coins..or anything else.  

Do you intend to pursue a particular type of coin ?