Worth Getting Graded

Started by ashump, July 11, 2020, 06:50:25 PM

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ashump

How do you know if something is worth getting graded? I have a steal 1943 that I would put in the 67 to 68 range.

I wanted to post a picture with this, but it would be hard to tell with a downgraded photo.

Figleaf

Coins are worth getting graded in two cases:

1) You want to sell the coin AND you think an encased and graded coin will sell for more than the total cost (includes postage) of grading.
2) You like encased coins.

ad 1) remember that you carry the risk of covering your cost yourself. The risk that the coin is a fake or has been improperly cleaned (my understanding is that, especially at that grade, there are many improperly cleaned coins of this type around) is also on you.
ad 2) remember that an encased coin is heavier and takes more place, which translates into needing more space for your more cumbersome collection.

In conclusion, the decision whether to grade or not is yours. It is a commercial gamble on price difference, worsened by the risk factors and practical considerations outlined above.

Peter
An unidentified coin is a piece of metal. An identified coin is a piece of history.

brandm24

That's a high grade for a 1943 steelie, ashump, so might be worth getting graded. If you're confident in your assessment I'd do it. But be aware that if it comes back with a much lower grade, maybe a 62 or 63, the coin just isn't worth the costs, IMO. It's not rare or much sought after in those grades. A picture would be helpful even if it's not as good as you'd like.

Bruce

Always Faithful

brandm24

I did a little research on the 1943 issues and found some information about estimated values. Maybe it will help you to decide if you want to have your coin professionally graded.

A set of three, a plain, an S, and D mint marks, can be had for about $100 in Ms-65 grade. Anything below that is very inexpensive. On the other hand in MS-68, a single coin minted in Philadelphia...no mint mark...is valued at about  $2,250, a 1943-D at $2,150, and a much rarer 1943-S at $4,250.

These valuations and the attached picture of an MS-68 are taken from the PCGS website. PCGS is considered by many to be the premier grading service here, so the information is as accurate as any. Good luck with yours, as ashump.

Bruce
Always Faithful

brandm24

One more thing, ashump, I forgot to mention. They're known 1943's that have been "reprocessed" by adding a shiny coating to improve their looks and make them appear to be a higher grade. The originals were struck on zinc-coated steel and as the zinc coating wore off the steel planchet began to rust. That's the reason so many of them have such a bad appearance.

If you think you have a high-grade specimen...65 or better...I'd get it graded for peace-of-mind if nothing else. Good luck.

Bruce
Always Faithful

Figleaf

There are in fact more "fixed" high grade steel cents than genuine ones. The fixed coins have lower relief and softer detail. If you are in doubt, just take your coin to a coin club, dealer or coin event. It's cheaper than having it graded and finding out it's close to worthless.

Peter
An unidentified coin is a piece of metal. An identified coin is a piece of history.

brandm24

Quote from: Figleaf on July 12, 2020, 01:56:23 PM
There are in fact more "fixed" high grade steel cents than genuine ones. The fixed coins have lower relief and softer detail. If you are in doubt, just take your coin to a coin club, dealer or coin event. It's cheaper than having it graded and finding out it's close to worthless.

Peter
Yes, they're relatively easy to spot if you look at them closely. In addition to their soft features, the finish often looks too glossy.

Bruce
Always Faithful

brandm24

Here's an interesting article about reprocessed 1943 cents. It's from CoinWeekly.
                               

https://coinweek.com/counterfeits/counterfeit-detection-special-edition-reprocessed-steel-cents/


Bruce
Always Faithful