Grading common pocket change 1 1

[Hoghead515]

Has anyone on here besides me ever wonder how much common pocket change gets sent to NGC for grading? New collectors are on here every day asking if they should get coins worth face value and damaged coins graded. I know theres no way of knowing but I ofter wonder how many sends them in aginst the experts better advice not to. Or how many who send them in without even asking about what they have first. I bet its unreal how much junk change is surround by expensive plastic. 

 Does NGC ever try to reach out to the submitter and tell them their coins are just plain old spender change of no value? Or do they go ahead and take their money and slab them? Cant really blame them if they do. You would think it would be the responsibility of the submitter to do a little research on what they are sending in. I know Ive seen several coins on ebay in slabs that I would have never dreamed of sending in if they were mine. 

[VKurtB]

I’ve seen exactly this type of slabbed material regularly at auctions, both in person and online.

[Mike Meenderink]

Yes. Here is one of mine. Scan it you will be shocked.

[Mike Meenderink]

Here's another scan this to be shocked as well..

[Coinbuf]

It happens all the time Hog, sometimes due to lack of knowledge or newbie exuberance, registry reasons, and even just a personal desire to slab a keepsake.   As you said it's impossible to know just how often, but it is not the job of the TPG to question the submitter's reasoning.   They do the job the submitter asked them to do.

[Mike Meenderink]

Or you could just know what you are doing and submit several coins that receive top pop grades or solo finest. It's not easy but I've done it....so..

[Just Bob]

Take a look at this census page for Lincoln Memorial cents. Notice how many are graded below MS60. My guess is that many of these, and a lot of the mint state examples, were sent in by people who were sure that they had a doubled die or some other variety.

https://www.ngccoin.com/census/united-states/cents/100/

Edited August 4, 2023 by Just Bob

[Teddy R]

I've been doing some research on moderns and have come across a few eye openers in the census.

I guess there is a thing called lowball sets for whatever reason???

Edited August 4, 2023 by Teddy R

[Hoghead515]

On 8/3/2023 at 11:48 PM, Mike Meenderink said:

Or you could just know what you are doing and submit several coins that receive top pop grades or solo finest. It's not easy but I've done it....so..

Im not talking about people who cherry pick top pops. Im talking about people slabbing pure junk spenders. Coins only worth face value. And some of the damaged common pocket change people think is errors. 

Edited August 4, 2023 by Hoghead515

[World Colonial]

On 8/4/2023 at 5:09 AM, Hoghead515 said:

Im not talking about people who cherry pick top pops. Im talking about people slabbing pure junk spenders. Coins only worth face value. And some of the damaged common pocket change people think is errors. 

But there isn't any substantive difference with thousands of coins already in the population data at both services valued near or below the cost of grading.

This includes more than just coins currently available in circulation.

There isn't much graded fitting your description.  There is a lot of it fitting mine.

Same question could be asked.

Reminds me of South African collectors.  Look at the NGC Census "Details" data.  It's the result of their TPG induced coin mania, similar to the US 1989 bubble.  173 1897 "details" shillings.  220 1892 "details" pennies.  Yes, most are AU or UNC, but even at the price peak, probably not worth (much) more than the grading fee.  Shipping back to SA isn't cheap. 

Here is a bulk lot sold by Heritage, this one in NCS holders not even included in the NGC Census.

South Africa: Republic 82-Piece Lot of Certified Shillings NGC, ... | Lot #34360 | Heritage Auctions

[World Colonial]

On 8/4/2023 at 3:10 AM, Teddy R said:

I've been doing some research on moderns and have come across a few eye openers in the census.

I guess there is a thing called lowball sets for whatever reason???

Yes, my explanation for it at least initially was amusement or to alleviate boredom. 

With the internet, most series are so easy or so much easier to complete.  It was done to create a challenge.  Now, these coins are worth more or proportionately noticeably more than "high" quality in some instances.  Definitely than slightly higher quality.

[Coinbuf]

On 8/4/2023 at 12:10 AM, Teddy R said:

I've been doing some research on moderns and have come across a few eye openers in the census.

I guess there is a thing called lowball sets for whatever reason???

This is a good point, and you are correct there is a smallish thin market for the lowball coin, especially the coveted PO01 grade.   Like you this collecting desire escapes me, I see no reason to collect what I consider worthless slicks, practically electrical box punchouts.   I also see this market as a mostly one-way market with dealers happy to sell one but likely reluctant to buy anywhere near market prices.   And most of the collectors in this area that I have read or conversed with are more likely to try and "make" a lowball vs buy them.

As WC wrote above this niche seems to have come from collectors that wanted a cheap challenge (at least initially cheap) and who may also have been feeling priced out of the higher quality and expensive registry coins.

[zadok]

On 8/4/2023 at 11:51 AM, World Colonial said:

Yes, my explanation for it at least initially was amusement or to alleviate boredom. 

With the internet, most series are so easy or so much easier to complete.  It was done to create a challenge.  Now, these coins are worth more or proportionately noticeably more than "high" quality in some instances.  Definitely than slightly higher quality.

...correct in all respects...guilty as charged...the only real aberration is that the Po-01 n Fr-02 coins out pricing say G4,VG10, F12 coins, bit strange but have done so to complete a series or grouping....

[zadok]

On 8/4/2023 at 1:50 PM, Coinbuf said:

This is a good point, and you are correct there is a smallish thin market for the lowball coin, especially the coveted PO01 grade.   Like you this collecting desire escapes me, I see no reason to collect what I consider worthless slicks, practically electrical box punchouts.   I also see this market as a mostly one-way market with dealers happy to sell one but likely reluctant to buy anywhere near market prices.   And most of the collectors in this area that I have read or conversed with are more likely to try and "make" a lowball vs buy them.

As WC wrote above this niche seems to have come from collectors that wanted a cheap challenge (at least initially cheap) and who may also have been feeling priced out of the higher quality and expensive registry coins.

...true n mostly iaw what WC stated...boredom n something to do while waiting for higher grade or more desirable coins to come on the market, originally it was cheap n little to no competition, only bidder at times but where there is a market there will be dealers n then promotion n then registry sets n then price jumps until the market has out priced itself thru greed...but collectors, everyone here, r a weird bunch anyway...how many pennies, nickels, dimes does one really need?...n whats with button collectors or toothpick holder collectors, i agree those items r small n dont take up much space...i know a coin collector who once collected nickelodeons n meteorites as well...beaucoup space required...ill give u one example that i can weakly lean on to try to justify this addiction, i started a lowball collection of US CC minted coinage simply because completing a high grade set is nearly impossible n very expensive, very challenging n more expensive than i initially thought but more attainable but equally impossible to complete but here i am still plodding away jousting at that windmill...n yes i doubt that the various dealers i bought from would be buyers of their own former inventories....

[Jason Abshier]

Yep ! We see it and hear it all time on here newbies sending or wanting to send in pocket change for grading … some listen to our advice on here and a lot of them don’t …