Would You Get This 1994 LMC Graded, And Is Abe Spiked Or Is He Speared?

Okay thanks everybody. I believe and accept what you're saying, but can I rant for a second? Ha, and please, for the sake of this newbie's threadbare morale at this point, let me know if you've encountered this crisis at any point in your time in the hobby.
--Almost every day in the +/-3 months since I first decided to look at my dad's jar of wheaties, I have found myself utterly baffled by examples of what DOES or DOESN'T add monetary value. This 94 Lincoln is only the most recent example, but a good one. Here I am squinting WITH magnification to see if there is any doubling in the columns of the reverse, then just when I'm about to chuck it in the 're-roll' tub, my NAKED EYE catches a spike/spear/slice/lightening bolt, whatever you want to call it, going right through the skull of our (arguably) most beloved President. I fetch the magnifier again, note that it's definitely a die crack and not a scratch from circulation use, I note that the coin looks pretty good for a quarter-century "in the wild," and find other examples online, confirming this wasn't a one-off. I've already learned other examples of the hard lessons likely encountered by most if not all newbies (mistaking DDD and MD for actual doubled dies, getting excited about an over-zealously corrected die clash, etc.), but even still, I have to admit I let my fantasies fly with this head spike.
Now OF COURSE I appreciate honest answers and lessons learned even when they are disappointing, and I appreciate that at least there are groups interested in cataloging various cases of "weird but not marketable" but I wonder if I'll ever wrap my head around the reasoning behind the market. WHY can an error on some mundane device (like a letter or part of a building) and virtually impossible to see, be more valuable than an obvious, stark, and COOL one? I mean, if I someday find myself getting a bazillion bucks for a coin because two letters are 'this' far apart versus 'that,' or whatever minuscule difference, I'm not going to ask the buyer "What is wrong with you?" but I can't deny I'll be thinking it.

Price is dictated by demand, but what causes that demand can vary widely. Rarity is one thing that shapes demand, but not the only thing. Popularity is probably more important. There is no lack of 1955 doubled dies, thousands have been graded, but they easily fetch $1000. There is only one known Retained Cud on any 1935-D Lincoln Cent, but it recently sold for $19.50. See? Not rarity but demand. So finding things in demand is where the money is. Which means, in general with Lincolns, looking for CherryPickers' Guide varieties on MS-64 grade or higher coins because these are in demand by the folks looking to put together registry sets. Almost every coin I've ever found worth over $50 was in uncirculated condition, as that is where the demand is.

As for the whole "speared" thing vs "spike" thing...that's easy. A Spike Head is a specific error type defined more or less as a die crack that goes from the rim and enters (not stops at) the head. They can look like anything and all will be Spike Heads. A "speared buffalo" or "speared eagle" or "spitting horse" are all just things people made up to say what a die crack or die gouge or something else looks like as it relates to the design. There was a thread on these about a year ago and I put up photos of my "falling coconut" die chip on a quarter. They are kinda neat, and can become quite popular if they are the focus of an article in a coin magazine where people can become more widely aware of the them. They have very little numismatic value but can command some high prices.

Anyway, that's sorta the story. Lots more to it, but if you are scanning coins in bank rolls looking to make some cash I'd call that a long shot. Other than a couple like 99 Wide AM, 84 DDO-001, 83-D DDO-001, 95-D DDO-003 most anything you find isn't going to net much profit. Most do it because it is honestly like finding bits of treasure, and to collect them. But seriously, we all started out finding a bunch of MD and now there are some here that consistently find some seriously good coins. It's a progression and once you get it down it's actually quite possible to find a truly top coin every now and again. The coin I found and posted last night, 1987-D RPM-003 lists at $60 for MS-63, so they're out there.

Not to put a damper over your excitement but had I been in it for profit when I first started I probably wouldn't still now be flipping coins under a loupe , thirty years later.
The value of my good finds is fun to find out but it's just a way to keep score. The value of the usual find is to me the fun and excitement of that first glimpse.
In all these years I think I have sold two variety/error coins but given away many more than that.
I hope you can find that "thing" That keeps you going because this is a super hobby

Theoretically, yes. But in reality, not so much.

The amount of time it takes to find these coins, take pictures of them, list them on ebay, ship them, and actually find a seller only to get the $1 leftover after ebay fees really isn't worth it.

The time put into this is not worth the minimal profit unless you enjoy it, or you are a collector.

I strongly believe that going into this hobby with the sole purpose of profit is a terrible idea. After being on this forum for two years I have learned most people who are concerned only about profits and value seem to quit soon after they start. The people who stick with the hobby are interested in collecting and/or "the hunt" of looking for errors and varieties. Selling and profits are, and should be, secondary.

As for the value, it's all in the demand. The 1937 "3 legged" Buffalo nickel sells for high prices, but it's only a case of a grease filled die/overpolished die. Yet a Lincoln Cent with a similar amount of Struck Through Grease will sell for far, far less than the 1937 nickel. It's the demand that drives up the prices.

Because they see what they think is valuable.

When they go to sell them, they come here, and get mad at us telling them it is worth what it says on the coin.

I understand what you're saying, but it must be some kind of inherent personality difference because I feel exactly the opposite. I've never been able to appreciate challenge for challenge's stake, leaning instead toward the exotic and beautiful whether achieved through much effort or not. I'm that person who thinks marathon runners are nuts, and although I have climbed mountains the reward is 100% the view at the summit, which I would be just as happy to drive up to if I could.
I never had the kitchen table of coins experience you describe as a kid. The thing I still do that links back to my roots is aquarium fish, raised them since I was little and now catch/buy/breed many wild and domesticated species, and ship them all over the country. But even in this hobby, the goals are somewhat bifurcated between those who like what is challenging and those who like what they like. For instance, there are a lot of people who consider a solid black guppy or solid white betta holy grails, because they are extremely hard to breed and therefor hard to find. Me, I just think, well there are plenty of other beautiful species you can get that are solid black or white, without breaking your wallet. Meanwhile guppies and bettas are the most colorful and diverse fish there are, so if I'm going to stretch my budget for them it'll be gonzo psychedelic looking ones! And luckily there are a good number of other aquarists who agree; they are my customers and trade buddies.
In short, I guess what I'm saying is I don't understand why with coins the market seems to be so much more 'challenge'-skewed. The existence of collectors whose goals are all about completing this or that series or set doesn't surprise me, but the relative absence of people seeking the sheer 'weird' --that does surprise me and disappoints me, I must admit.

I should clarify, I DO thoroughly enjoy this kind of hunting; I just don't seem to have any interest in having the coins for myself. I don't understand it.