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1931 S Wheat Penny

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Baseball111's Avatar
United States
7 Posts
 Posted 11/13/2012  01:46 am Show Profile   Bookmark this topic Add Baseball111 to your friends list Get a Link to this Message Number of Subscribers
Hello everyone, I'm new to the forum and new to coin collecting. My father passed away a few weeks ago and left a bit of silver and a few coins to me. The one could find was the most rare/valuable was the 1931-S Wheat penny. I've seen numbers anywhere from $40-$100 and am just looking to get a ballpark figure. It's in pretty good shape but then again. I'm the wrong person when it comes to coin grading.

I would also like to know if this this coin turns about to be worth ~$100 would it be worth having it sent to a coin grader?

Any help or opinions would be appreciated. Thanks

1931-S-Wheat-Penny
1931-S-Wheat-Penny

Edited by Baseball111
11/13/2012 01:47 am
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basebal21's Avatar
13014 Posts
 Posted 11/13/2012  02:17 am  Show Profile   Bookmark this reply Add basebal21 to your friends list Get a Link to this Reply
Another baseball




Not a penny expert so Ill save that for someone who is.

But to answer your grading question, if it is a 100 dollar coin its more than likely not worth having it graded. Thats kind of the middle ground that could go either way. It will cost you about 30-50 to have it graded and if you want PCGS or NGC they require a membership but there are ways to avoid that extra fee. If you have other coins you want graded as well the cost comes down, but the 1 coin submission is pretty pricey.

If everyone here thinks it has a good shot of being worth more with the right grade then it could definitely be worth a shot. But I say all this assuming you want it graded for resale. If you like graded coins like I do or want it for protection as well ect then theres a lot of reasons that make it more worth it than just looking at it from a numbers standpoint
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Baseball111's Avatar
United States
7 Posts
 Posted 11/13/2012  02:22 am  Show Profile   Bookmark this reply Add Baseball111 to your friends list Get a Link to this Reply
Thanks for the response. I was looking around at prices to have a coin graded and was thinking the same thing. I plan on selling it so I was wondering if the price to have it graded would possibly increase the valuable a worthy amount.
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hesgut's Avatar
1028 Posts
 Posted 11/13/2012  02:34 am  Show Profile   Bookmark this reply Add hesgut to your friends list Get a Link to this Reply
I would wager a guess and say that this coin would grade MS-62 RB. It may have been full red, but the sulfur from that really old holder has diminished it's color some. It's also slightly spotted. fmv has such a coin worth $180. That price would be higher retail and also doesn't take the spotting into account.

I haven't bought or sold wheat cents in a while, but I'll make a guess and say it might sell for $120 on ebay. Someone with more recent Wheat cent experience may correct me. A coin shop owner might give you $75 or so.

The cost of getting it slabbed and graded would not be worthwhile in this case.
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Baseball111's Avatar
United States
7 Posts
 Posted 11/13/2012  02:57 am  Show Profile   Bookmark this reply Add Baseball111 to your friends list Get a Link to this Reply
Would it be wise to take of out of the case to prevent the color from further diminishing?
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John1's Avatar
United States
56855 Posts
 Posted 11/13/2012  04:56 am  Show Profile   Bookmark this reply Add John1 to your friends list Get a Link to this Reply
to CCF. I am sorry for your loss.That's a nice looking coin. I think I would have it graded by PCGS and you can have it sent in through a dealer so you don't have to be a member of PCGS. I think that the 1931-S has been faked many times, so having it slabbed would be a good idea. Also,i would keep it for sentimental reasons. I would take it out of that holder,very carefully and put it in a hard holder for now. You may also want to give it a quick dip in some pure acetone before putting it in a new holder.Read up on the use of acetone here on CCF before using it.Dip the coin at your own risk though after reading up on it.
http://www.numismedia.com/fmv/price...ices61.shtml
John1
Edited by John1
11/13/2012 04:58 am
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United States
20753 Posts
 Posted 11/13/2012  10:31 am  Show Profile   Bookmark this reply Add just carl to your friends list Get a Link to this Reply
I too think you should keep that coin as a momento of your Dad. No don't bother having it sent in for grading. The cost would not be worth that at least for now. Possibly in the far future a graded one will bring in a bit more money in sales but barely enough to pay for grading. Remove it from that old 2x2 and at least put it in a newer one.
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jbuck's Avatar
United States
188052 Posts
 Posted 11/13/2012  11:47 am  Show Profile   Bookmark this reply Add jbuck to your friends list Get a Link to this Reply
to the Community!

I agree with just carl. I hope you maintain an interest in coin collecting because it is, in my opinion, a great way to remember your father.
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dmagku's Avatar
United States
109 Posts
 Posted 11/13/2012  2:33 pm  Show Profile   Bookmark this reply Add dmagku to your friends list Get a Link to this Reply
I got into coins the same way - lost my Dad who left me his Dad's collection. It is not some amazing collection but had some nice pieces. I spent some time organizing and putting them in better holders to retain value and ended up getting into it.

With that said you have a really nice coin there that I would think is worth > $100. I am also considering sending in my top 5 most valuable coins and that one would make my list so I would go for it.
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acloco's Avatar
United States
3540 Posts
 Posted 11/13/2012  6:22 pm  Show Profile   Bookmark this reply Add acloco to your friends list Get a Link to this Reply
Sorry to hear of your father's passing.


This 31 S is definitely worth more than 100. Believe in the earlier grade of MS62. Some Verdi Care (FOLLOW the instructions) will stop the spotting that is starting to occur. DO NOT CLEAN OR RUB with any other method.

Personally, I would send this in for grading. You could have this coin conserved first as well.
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vermontensium's Avatar
United States
16679 Posts
 Posted 11/13/2012  6:29 pm  Show Profile   Check vermontensium's eBay Listings Check vermontensium's eCrater Listings Bookmark this reply Add vermontensium to your friends list Get a Link to this Reply
Impossible to grade from your photos but I would wager a MS RD coin. Having said that, I don't know if that old staple holder is mylar (archival) or PVC injected in which case, there may be damage done already.
I agree, this coin should be sent for certification, ANACS would be my choice as this coins FMV, would be the best choice.
I also am sorry to hear of your Fathers passing. Welcome to the CCF.
swcoin.ecrater.com
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murrellington's Avatar
United States
3276 Posts
 Posted 11/13/2012  7:34 pm  Show Profile   Bookmark this reply Add murrellington to your friends list Get a Link to this Reply
Nice coin! And even raw, that coin is worth more than $50 to a $100. I'd keep it too, but if it means nothing to you then you can sell it. I personally wouldnt submit it to get graded, but I know many others would. I would just take great photos and throw it on ebay.
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babysitr's Avatar
United States
1339 Posts
 Posted 11/13/2012  8:38 pm  Show Profile   Bookmark this reply Add babysitr to your friends list Get a Link to this Reply
Sorry to hear of your loss!That is one nice Lincoln Cent,,Nice way to remember...Looks ms-red to me... You can always have it graded,,,But, it for sure needs to be out of that old 2x2
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Baseball111's Avatar
United States
7 Posts
 Posted 11/14/2012  02:41 am  Show Profile   Bookmark this reply Add Baseball111 to your friends list Get a Link to this Reply
murrellington - I am a huge baseball memorabilia collector so most of the sentimental items are baseball items which are in my eyes priceless. The coin on the other hand, may have just sparked an interest in coin collecting and I was wondering the best option for the coin and the best way to store it.

Thank you to everyone who took the time to respond, it was very much appreciated.
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SeatedNut's Avatar
United States
2797 Posts
 Posted 11/14/2012  2:04 pm  Show Profile   Bookmark this reply Add SeatedNut to your friends list Get a Link to this Reply
Is the date on that 2x2 1931 or 1951? If my dad passed that to me with that hand-written date, I would keep it just like it is and cherish it.
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Russian Federation
5172 Posts
 Posted 11/14/2012  2:53 pm  Show Profile   Bookmark this reply Add january1may to your friends list Get a Link to this Reply

Quote:
Is the date on that 2x2 1931 or 1951? If my dad passed that to me with that hand-written date, I would keep it just like it is and cherish it.


Seconded... wanted to post the exact same thing, but couldn't think of how to phrase it.
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