New to this Help! 0

[Elithenewguy]

Hello I'm new to this coin Hobbie. I have a few coins I have questions about if any one can help with identifying if there is any value. I found a 1986 penny with theb6 on they year half missing and some of the letters mission on the back. Any feed back would be great. I also found a dollar coin with some weird marks on the back under the eagles head

[Mr.Bill347]

Both not any kind of error. Welcome to the forum. The dollar is the famous Eagle puking in flight! Haha, no just some kind of post mint damage. The Lincoln is suffering from delamination of the copper surface from the zinc base due to heat having been applied to it.

 

[Sandon]

   Welcome to the NGC chat board.

   Your 1986 Lincoln cent has a weak "6" and weak lettering on the reverse due to a weak strike and, regarding the "6", possibly that numeral on the die being partly filled with dirt or grease.  Either of these causes would be regarded by collectors as poor quality control rather than as a mint error and do not add value to the coin. (It may also have heat or other damage.) Based on your photo, the marks beneath the eagle's head on your Sacagawea dollar are nicks or "digs" (damage) and also add no value to the coin.  Both coins are only worth face value.

   There is a great deal of misinformation being spread on the internet that valuable mint errors or other valuable coins can be found in circulation, which is in reality highly unlikely. For some legitimate sites regarding mint errors and die varieties, see www.error-ref.com, www.doubleddie.com, and www.varietyvista.com.  For more basic information to learn about U.S. coins and how to collect them, see the following topic on this forum:

   

[Elithenewguy]

On 1/25/2023 at 3:26 PM, Sandon said:

   Welcome to the NGC chat board.

   Your 1986 Lincoln cent has a weak "6" and weak lettering on the reverse due to a weak strike and, regarding the "6", possibly that numeral on the die being partly filled with dirt or grease.  Either of these causes would be regarded by collectors as poor quality control rather than as a mint error and do not add value to the coin. (It may also have heat or other damage.) Based on your photo, the marks beneath the eagle's head on your Sacagawea dollar are nicks or "digs" (damage) and also add no value to the coin.  Both coins are only worth face value.

   There is a great deal of misinformation being spread on the internet that valuable mint errors or other valuable coins can be found in circulation, which is in reality highly unlikely. For some legitimate sites regarding mint errors and die varieties, see www.error-ref.com, www.doubleddie.com, and www.varietyvista.com.  For more basic information to learn about U.S. coins and how to collect them, see the following topic on this forum:

   

I also just found ab1941 mercury dime any info on that? Is it worth getting rated?

[Greenstang]

Welcome to the Forum.
If you mean getting it graded when you say rated, the answer is no. In that condition it may be worth $2-3.00 because of the silver content whereas it would cost you $50-60.00 to have it graded.

Also in the future, start a new post for each coin as it gets confusing with more than one coin on a post.

 

[VKurtB]

On 1/25/2023 at 2:46 PM, Elithenewguy said:

I also just found ab1941 mercury dime any info on that? Is it worth getting rated?

No. 

[VKurtB]

There are a hundred or more reasons to NOT have a coin graded and very few reasons to have it graded. HOWEVER, to many many people, having a coin graded, any coin at any grade, has become some sort of rite of passage. It’s kind of like getting your Webelo badge in Cub Scouts, I suppose. I don’t get it. Less than 2% of my coins are graded, and I’ll likely be dead soon. There is tons of misinformation on having coins graded out there, and key staff of grading companies drive fancy cars and have big homes. So you have decisions to make. How many Mercedes do you feel you need to contribute toward?

[Sandon]

Grading services are normally for coins worth at least several hundred dollars each! Less valuable coins can be enjoyed in albums and hard plastic coin holders, or, for government issued sets, in their original packaging.  Unless you have sufficient knowledge to determine which, if any, of your coins are likely to have such values, you will likely spend more in grading and processing fees and shipping costs than the coins are worth! This is why you should acquire and study the resources referred to in the "Resources for New Collectors" topic to which I previously provided a link.

[Elithenewguy]

On 1/25/2023 at 4:42 PM, VKurtB said:

There are a hundred or more reasons to NOT have a coin graded and very few reasons to have it graded. HOWEVER, to many many people, having a coin graded, any coin at any grade, has become some sort of rite of passage. It’s kind of like getting your Webelo badge in Cub Scouts, I suppose. I don’t get it. Less than 2% of my coins are graded, and I’ll likely be dead soon. There is tons of misinformation on having coins graded out there, and key staff of grading companies drive fancy cars and have big homes. So you have decisions to make. How many Mercedes do you feel you need to contribute toward?

Makes sense thanks for the advice. So if I have a mediocre coin and want to sell it where do you recommend posting it for sale

[Greenstang]

If you are looking to sell. You could post it on the Coin Marketplace Forum on this site.

Just be sure to read the posting instructions at the top of the page first.

[EagleRJO]

All of the coins are in rough shape and not worth very much.  If you did send them in for grading you would lose money.  The Lincoln cent may have a minor struck-thru mint error as there isn't wear of the rim consistent with the missing or worn off part of the "6" in the date.

https://www.error-ref.com/

Even for potential minor errors like that you would also need to identify exactly what it was struck thru even to have a small value increase, which I don't think can be done, and the very rough condition would more than offset that.

On 1/25/2023 at 5:47 PM, Elithenewguy said:

Makes sense thanks for the advice. So if I have a mediocre coin and want to sell it where do you recommend posting it for sale

None of the coins posted are even worth your effort trying to sell, and I think you need substantially more education and experience before even considering that area.  See the post above by Sandon on "Resources", and if you are interested in coin errors and trying to sell them the attached guide book is an additional must have resource.  But first you need to know some basics, including identifying errors and grading of coins which plays a part in value.  Btw, welcome!

Edited January 31, 2023 by EagleRJO

[Coinbuf]

On 1/25/2023 at 3:47 PM, Elithenewguy said:

Makes sense thanks for the advice. So if I have a mediocre coin and want to sell it where do you recommend posting it for sale

The three coins you have posted so far have an all in retail value of $5 for the three coins combined.   While you could start a for sale thread on the Marketplace here on the NGC site, or list on ebay, once you pay the cost to ship the coins and the ebay fees (there are no fees to list in the marketplace) you will end up getting just about face value.   The Lincoln and Sac dollar are only worth the face value of $1.01, so you might as well just spend those.   The Merc dime is worth more for the silver in the coin, but you would be just as well off to find a local coin dealer or "we buy gold and silver" place and sell it to them for the silver content.

It is hard for many non collectors to understand why a coin that is as old as your merc dime is only worth such a small amount.   But the truth is that condition/grade of collector coins is a very big component in determining the value of a collector coin.   It is these little details that "the get rich quick from pocket change" type of hype and youtube videos conveniently leave out . 

[Elithenewguy]

Thank you all for taking time out to help me out. I am a disabled veteran just looking for a hobby looking through these coins help with my anxiety believe it or not. But if I can make a little cash while doing it then why not so thank you all sincerely for your guidance it is much appreciated. I have one more for you 🤣 I found this dime with a tint on it what do you all think. It also has some strike marks on some of the letters on the back. Can't see much of the tint in the picture but is has a bluish patina to it 

[GoldFinger1969]

On 1/25/2023 at 5:08 PM, Sandon said:

Grading services are normally for coins worth at least several hundred dollars each! 

Is that true, Sandon ?  I only ask because I see plenty of coins that sell for UNDER $50 and even if the TPG did the grading at cost (materials for the holderr, grade, time of the graders) it's got to be $15 at the cheapest....and yet, I find coins in holders that sell for as cheap as $25.  In fact, I bought one -- a 69 Red Penny -- at FUN 2020 when I just wanted to completely empty my wallet on the final day. 

I would guess maybe the more active dealers get big discounts or even some comps on holders for less-expensive coins.  Considering the materials and time spent on expensive coins is about the same yet with a much more expensive price tag...they can afford it. 

[GoldFinger1969]

On 1/25/2023 at 2:52 PM, Elithenewguy said:

Hello I'm new to this coin Hobbie. 

Eli, are you planning on just looking for valuable coins and hoping lightning strikes...or do you intend to learn, educate yourself, spend time reading....and then buy (and maybe sell) certain coins or types of coins?

Edited January 26, 2023 by GoldFinger1969

[Elithenewguy]

On 1/25/2023 at 7:07 PM, GoldFinger1969 said:

Eli, are you planning on just looking for valuable coins and hoping lightning strikes...or do you intend to learn, educate yourself, spend time reading....and then buy (and maybe sell) certain coins or types of coins?

I'm looking to learn. I'm not a "waiting for lightning to strike" kind of guy. I survived 4 combat deployments in the middle east that enough lightning for me. I find this process fascinating, im holding a1942 penny right now just thinking of the journey this coin has had all these years and now it sits here with me. But also if there is opportunity to make some money why not just a bonus I guess.

[J P M]

On 1/25/2023 at 7:05 PM, GoldFinger1969 said:

Is that true, Sandon ?  I only ask because I see plenty of coins that sell for UNDER $50 and even if the TPG did the grading at cost (materials for the holderr, grade, time of the graders) it's got to be $15 at the cheapest....and yet, I find coins in holders that sell for as cheap as $25.  In fact, I bought one -- a 69 Red Penny -- at FUN 2020 when I just wanted to completely empty my wallet on the final day. 

I would guess maybe the more active dealers get big discounts or even some comps on holders for less-expensive coins.  Considering the materials and time spent on expensive coins is about the same yet with a much more expensive price tag...they can afford it. 

Welcome Elithenewguy I roll hunt coins all the time and most are not MS and almost all are not errors but it is still fun to look. I have many coins that are graded in slabs that are well below the cost of grading a coin. Some coins for under $10

[GoldFinger1969]

On 1/25/2023 at 6:50 PM, Elithenewguy said:

Thank you all for taking time out to help me out. I am a disabled veteran just looking for a hobby looking through these coins help with my anxiety believe it or not. But if I can make a little cash while doing it then why not so thank you all sincerely for your guidance it is much appreciated.

Thank you for your service !! 

This can be a rewarding hobby and you can certainly make a living from it.  However, to avoid LOSING money by not knowing too much about coins in general or a specific niche....might I suggest going slow and maybe seeking a PT job in a LCS (Local Coin Shop) or helping out someone who displays at local or regional coin shows ?

It would be a good opportunity to LEARN about coins...and learn about the business of coins...before committing your time and $$$.

Some of us here are dealers who make a living....others have been lucky to buy very cheap and seen nice gains in our collections....BUT MOST OF US probably have collections worth exactly what we paid for them, maybe even less.  Even if we made $$$, it is probably less than we could have done in CDs or stocks (we have threads debating this  ).  We do this because we ENJOY IT and just like you looking for help with anxiety it gives us pleasure from the daily grind and toll of our other life situations.  Again, coins are a hobby, not an investment -- that's how we treat them (well, most of us anyway  ).

So yes, coins are DEFINITELY fun to buy/sell and learn about....and they CAN (occasionally) be lucrative (but don't count on it)....but go slow and please ask questions so we can assist you.  

 

Edited January 26, 2023 by GoldFinger1969

[GoldFinger1969]

On 1/25/2023 at 7:20 PM, Elithenewguy said:

I'm looking to learn. I'm not a "waiting for lightning to strike" kind of guy. I survived 4 combat deployments in the middle east that enough lightning for me. I find this process fascinating, im holding a1942 penny right now just thinking of the journey this coin has had all these years and now it sits here with me. But also if there is opportunity to make some money why not just a bonus I guess.

Well, we have some super-savvy experts here so feel free to ask away.  I consider myself a beginner-to-intermediate coin collector with a passion for $20 Double Eagles (an expensive passion which limits my buying frequency, unfortunately ), other gold coins, Morgans and silver coins, commemoratives (mostly moderns), and modern coins/bullion.

I do lots of reading and compiling of information and little factual tidbits, so if you have questions on those coin types or sectors, feel free to pick my brain. 

[VKurtB]

On 1/25/2023 at 6:05 PM, GoldFinger1969 said:

Is that true, Sandon ?  I only ask because I see plenty of coins that sell for UNDER $50 and even if the TPG did the grading at cost (materials for the holderr, grade, time of the graders) it's got to be $15 at the cheapest....and yet, I find coins in holders that sell for as cheap as $25.  In fact, I bought one -- a 69 Red Penny -- at FUN 2020 when I just wanted to completely empty my wallet on the final day. 

I would guess maybe the more active dealers get big discounts or even some comps on holders for less-expensive coins.  Considering the materials and time spent on expensive coins is about the same yet with a much more expensive price tag...they can afford it. 

When Mr. Lange was still with us, he wrote several times of the “errors” made by submitters of coins and how they affect this business and hobby. More than half of all coins submitted now should never have been. It’s a field imploding in onto itself. 

[EagleRJO]

On 1/25/2023 at 5:08 PM, Sandon said:

Grading services are normally for coins worth at least several hundred dollars each!

@GoldFinger1969Its just basic math.  You have what you can sell a raw coin for, compared to what you can sell that same coin for slabbed, which increases with the value to a certain point, less the cost of grading at say around $80 or so all-in for an individual coin (bulk dealer submissions aside).

If you have say a coin you can sell for $120 raw and it's worth $150 slabbed, you would lose $50 submitting it for grading (net realized is $70 = $150 sale less $80 grading cost).  I have heard a good break even coin value is around $300 before considering a coin for grading just based on re-sale value.

On 1/25/2023 at 7:05 PM, GoldFinger1969 said:

I only ask because I see plenty of coins that sell for UNDER $50

If it was an individual submitted originally that is likely a loser sale, perhaps for a Registry Set where they are upgrading and just looking to get whatever they can out of the coin.  It could also have been part of a large dealer bulk submission where significantly lower grading costs are negotiated between a dealer and a TPG if a lot of coins are submitted all at once, on top of any dealer discounts they may already get.

Edited February 24, 2023 by EagleRJO

[Sandon]

On 1/25/2023 at 6:50 PM, Elithenewguy said:

I found this dime with a tint on it what do you all think. It also has some strike marks on some of the letters on the back. Can't see much of the tint in the picture but is has a bluish patina to it. 

 Your 1999-P Roosevelt dime appears to be absolutely normal and worth face value. Any "toning" (really oxidation or tarnish), which I don't see, wouldn't add any value to a coin like this.  I don't know what you mean by "strike marks" and can see nothing unusual about the reverse letters.  

On 1/25/2023 at 7:05 PM, GoldFinger1969 said:

I see plenty of coins that sell for UNDER $50 and even if the TPG did the grading at cost (materials for the holder, grade, time of the graders) it's got to be $15 at the cheapest....and yet, I find coins in holders that sell for as cheap as $25. 

  I don't want to go off-topic, but I understand that these coins are mostly from dealers' bulk submissions of entire rolls or even bags of common mint state coins or large groups of proof coins, for which they receive (or used to receive) discounts that bring the cost down to as little as $7 per coin.  The dealers hope to get back enough coins in very high grades like MS 67-68 or PF 70 so that they can make a profit from the whole submission.  They sell the lower grading pieces for much less, some below per-piece cost.  I've bought such slabbed coins for as little as $5 to fill registry set slots. One dealer told me that he had usually been on the losing side of such transactions, as where his rolls of BU 1940s Lincoln cents mostly graded MS 64 RD.

 

[GoldFinger1969]

Eagle, I think I read somewhere sometime that bulk grading costs for large submitters was maybe $15-$20 per coin, is that right ?  And for most individuals here, $25-$35 is a fair range ?

[Mr.Bill347]

Ethennewguy Welcome to the forum. AnD THANK YOU for your service to our country !. Coin interest is a great hobby!. Rad through the forums and you will find some great posts about coins, value, errors etc. If you like graded coins it is often less expensive to purchase already graded coins that someone else paid the fees for. In the case of dealers grading in bulk, this can save you money. As an example, I just bought a PCGS 2023 Silver Eagle MS70 for $47. The coin cost $37 from the mint so I got a graded one for just $10 more. Ebay is a major marketplace for coins, but be wary of raw coins and people play tricks with them to bait you into buying their coin. Great Collections and Heritage Auctions are another resource. I'm an OLD vet, and started about three years ago. Still enjoy it, still buy way too much, spend way to much time on it, but it is worth it. As far as errors, are concerned, you can access https://www.ngccoin.com/variety-plus/united-states/

Use the pricing guides on NGC and coin explorer and on PCGS use Coin Values and PHOTO grade to learn. 

Here's the thing, Coin errors are not hard t find but determining which ones might be important is.

Good Luck and glad you found something to take an interest in.

Edited January 26, 2023 by Mr.Bill347

[VKurtB]

On 1/25/2023 at 8:21 PM, EagleRJO said:

@GoldFinger1969Its just basic math.  You have what you can sell a raw coin for, compared to what you can sell that same coin for slabbed, which increases with the value to a certain point, less the cost of grading at say around $80 or so all-in for an individual with a few other coins (bulk dealer submissions aside).

If you have say a coin you can sell for $120 raw and it's worth $150 slabbed, you would lose $50 submitting it for grading (net realized is $70 ... $150 sale less $80 grading cost).  I have heard a good break even coin value is around $300 before considering a coin for grading just based on re-sale value.

If an individual submitted it originally that is likely a loser sale, perhaps for a Registry Set where they are upgrading and just looking to get whatever they can out of the coin.  It could also have been part of a large dealer bulk submission where significantly lower grading costs are negotiated between a dealer and a TPG if a lot of coins are submitted all at once, on top of any dealer discounts they may already get.

SOME of what is going on here with grading excesses is due to a “false fact” that often gets repeated - that it’s nearly impossible to sell a coin that hasn’t been graded. First of all, that’s total 🐂💩 in the first instance. Second, it’s only hard to sell a raw coin that actually SHOULD BE graded, and that’s basically the top 0.1% of all coins, or less. Third, even those top 0.1% of all coins are sold raw regularly when you have a knowledgeable buyer and a knowledgeable seller dealing face to face with the coin present. It can even be done when a coin can be examined by a prospective buyer WITHOUT the seller present, such as in a lot viewing room. But this next bit is relevant to this thread - some coins are simply unsaleable to anyone knowledgeable in this field, many many many coins, in fact. It doesn’t matter how much plastic you want to entomb them into. 

Edited January 26, 2023 by VKurtB

[Elithenewguy]

Thank you for your input it is much appreciated. although I am only interested in coins as a hobby as I have stated before if I can make a little money doing it then why not. It anything in life there is always a hustle, and I see the hustle with this and I respect it, especially being new to this. If I would have any issue not saying that I do but if I did it would be with someone not have integrity accountability or for their actions. Anyone who has ever served this great nation understands that a soldiers integrity is the most important thing we have, its what keeps us alive. All I ask for being new to this is honesty and integrity. I just want to learn have fun and maybe make a few bucks with that said any advice on which microscope would be best for a beginner like me to get for a closer look at these coins so far I've only been using my phone.

[l.cutler]

On 1/26/2023 at 4:38 PM, Elithenewguy said:

Thank you for your input it is much appreciated. although I am only interested in coins as a hobby as I have stated before if I can make a little money doing it then why not. It anything in life there is always a hustle, and I see the hustle with this and I respect it, especially being new to this. If I would have any issue not saying that I do but if I did it would be with someone not have integrity accountability or for their actions. Anyone who has ever served this great nation understands that a soldiers integrity is the most important thing we have, its what keeps us alive. All I ask for being new to this is honesty and integrity. I just want to learn have fun and maybe make a few bucks with that said any advice on which microscope would be best for a beginner like me to get for a closer look at these coins so far I've only been using my phone.

Microscopes aren't really necessary, in fact may be a detriment to someone new.  Every coin has small meaningless anomalies that will show up with over magnification.  I've been at it for over fifty years and just use a 10 power hand loupe.  Invest the money in some good books first, the microscope can come later if you feel you need one.  Good luck! 

[VKurtB]

Drop the microscope idea. It will make your current mistakes in your path in this hobby infinitely worse. At its core this is NOT A MICROSCOPE HOBBY. 10x is at the upper end of magnification you’ll need. If you find yourself thinking all you need is a microscope and some internet sites, you already have two strikes on you and the third one is bearing down on you. 

Edited January 26, 2023 by VKurtB

[Elithenewguy]

Ok thanks. So what exactly should I be looking for besides the obvious 🤔. I am definitely guilty of the school of YouTube some of these guys make it seem like you have the holy grail with this 1958 DD penny or that 1943 copper im hear weighing every coin to see if the weight is off and gwt confused. I found a 1988 penny that weighing 3.1 grams I just tossed it in the pile with the rest it so confusing

[l.cutler]

Study up on some legit sites like varietyvista.com, error-ref.com and doubleddie.com, there is a wealth of information there.  While there is some good information on youtube, most of it is clickbait nonsense.  Once you have a better handle on things you can separate the two.