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2007 Penny Mint Uncirculated Pricing Question

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tlsweet's Avatar
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 Posted 08/23/2011  8:11 pm Show Profile   Bookmark this topic Add tlsweet to your friends list Get a Link to this Message Number of Subscribers
Putting coins in my database. Came across this one I bought for $1.00. Clipped out of someone's mint uncirculated 2007 set.

Grading it myself, I see no markings with the naked eye. Using numismedia's grading guide it comes in at a MS69 or 68 at the very least because it has 2 very, very less than hairline markings on it when viewed with a microscope.

Why would numismedia give such a high price on this? Look what they put for an MS 68.

What's your expert opinions on this? Do you need a picture?

Thanks,
Teena
Edited by tlsweet
08/23/2011 10:09 pm
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GR58's Avatar
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11951 Posts
 Posted 08/23/2011  10:01 pm  Show Profile   Bookmark this reply Add GR58 to your friends list Get a Link to this Reply
I have read this a couple times, I may be missing something ... but I am not sure
what 2007 coin you are talking about.

What I am thinking is you are looking a a MS price, in the guide, but have a satin finish
coin in hand. If this is the case, a business strike coin in MS 68 or 69 can have good value
because it is harder to find high grade coins in business strike.

But coins out of a 2007 mint set will be satin finish and more common for them to be
high grade.

And yes a picture would help.
Valued Member
tlsweet's Avatar
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 Posted 08/23/2011  10:08 pm  Show Profile   Bookmark this reply Add tlsweet to your friends list Get a Link to this Reply
Oh dear. I have a 2007 Penny. Sorry about that, and thanks for trying to help with the little I gave you. I'll go edit.
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tlsweet's Avatar
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 Posted 08/23/2011  10:14 pm  Show Profile   Bookmark this reply Add tlsweet to your friends list Get a Link to this Reply
Then, am I correct that the online price guides are only for business strikes?

And all mint coins are in a satin finish?

How does one accurately put a price on coins from the mint sets?

I want to catalog these in order to pass down later so whoever wants what I've collected has a general idea of their value.

Thanks,
Teena
Edited by tlsweet
08/24/2011 06:21 am
Bedrock of the Community
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 Posted 08/24/2011  08:32 am  Show Profile   Bookmark this reply Add just carl to your friends list Get a Link to this Reply
If your cataloging your collection for a future person to inherit, I suggest down playing all prices. by that I mean regardless of if a coin is MS-67 and worth $50, just write down it is a MS-65 or -64. I do this and leave notes that all coins are graded downward. I do this so in the future, whoever gets this mess would know that almost all coins are worth more than I have listed. In most instances if a person in the future wants to just get rid of the collection, they would find that no one will give them a MS-67 price anyway. And dealer they tried to sell any ocins to would offer much less than what the seller is expecting as usual.
The Red Book is a great example of not showing prices for coins over the MS-65 area anyway. In that book mostly MS-63 is the highest grade shown. A few higher but usually not.
Another good thing about doing this is you don't have to study grading if you keep all your grades down a bit.
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BadThad's Avatar
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 Posted 08/24/2011  09:27 am  Show Profile   Bookmark this reply Add BadThad to your friends list Get a Link to this Reply
Carl offers sage advice as always.

We do not grade coins with a microscope, that is a huge mistake. Coins are graded by eye and then under mild magnification to check any anomolies. To achieve a 68 or 69 grade requires eye appeal, luster, quality in strike and an absence of distractions.
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tlsweet's Avatar
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111 Posts
 Posted 08/24/2011  10:56 am  Show Profile   Bookmark this reply Add tlsweet to your friends list Get a Link to this Reply
Thanks Carl...good idea about downgrading the coins. I found myself doing that on some by leaving a note about it.

I appreciate the input from both of you. The magnifying glass that I did use was just a simple one I've had for years, a small one for reading.

Do you think that is mild enough magnification?

I'm trying to get a picture up...as soon as I recharge the camera batteries.
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tlsweet's Avatar
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111 Posts
 Posted 08/24/2011  12:30 pm  Show Profile   Bookmark this reply Add tlsweet to your friends list Get a Link to this Reply
Here is the obverse



2007-Penny-Mint-Uncirculated-Pricing-Question
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yankee1227's Avatar
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1151 Posts
 Posted 08/24/2011  2:12 pm  Show Profile   Bookmark this reply Add yankee1227 to your friends list Get a Link to this Reply
Wow. That is a great satin finish!
Valued Member
tlsweet's Avatar
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111 Posts
 Posted 08/24/2011  2:20 pm  Show Profile   Bookmark this reply Add tlsweet to your friends list Get a Link to this Reply

Quote:
But coins out of a 2007 mint set will be satin finish and more common for them to be
high grade


That makes sense....so now how do I estimate a value for this one. What does numismedia and other graders use.

If I were to send this away to get graded, would it get a lessor grade for being a satin from the mint vs a business strike? Sorry to be a pain with asking so many questions.
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GR58's Avatar
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 Posted 08/24/2011  11:05 pm  Show Profile   Bookmark this reply Add GR58 to your friends list Get a Link to this Reply
I can understand your confusion.
I have been looking at price guides and E bay.
The price guides I have looked at do not list
anything for satin finished coins.

Looking at E bay I see some of the same coins
slabbed by PCGS, some had "SATIN" heading with a MS-69
grade and some slabs had "SATIN" heading with a SP-69

SP-XX grades seem to be for satin of matte proof finished
coins. I have not seen any guides give prices for SP grades

Maybe some other members know of a guide showing satin finish coins.

As for your inventory. I some what agree that to grade your raw coins with the higher grades (MS-67 and higher)
could cause confusion for a future seller.

In my experience for a coin to be sold at a higher grade
it is when it is slabbed by a top TPG.

I have seen many experienced coin collectors use terms like
MS-65+ (plus) for business strike coins they think might fall into the higher grades.

I would also say that most satin or matte proof coins,
when sent into TPG's seem to come back SP-68 or SP-69
at least that is how it has been with the coins I have sent in. I am sure I would not put a lower grade on the coin you have posted. Saying that coin is a 63 or 64 coin
would be like saying something is wrong with it. If kept
in that condition putting a lower grade might be more confusing .. might be better to not grade it at all.
Valued Member
tlsweet's Avatar
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111 Posts
 Posted 08/25/2011  07:14 am  Show Profile   Bookmark this reply Add tlsweet to your friends list Get a Link to this Reply
Thank you Goldrush for taking time to investigate and provide your feedback. Another valuable lesson learned in this hobby.
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