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1927 And 1937 Abe Lincoln Wheat Pennies Worth Anything?

 
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 Posted 01/23/2022  11:35 am Show Profile   Bookmark this topic Add dquiroz68 to your friends list Get a Link to this Message
These pennies both weigh 3.1. are there are they worth grading? And what would they be called please.. I'm an eager student trying to learn about our US currency

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 Posted 01/23/2022  11:44 am  Show Profile   Bookmark this reply Add panzaldi to your friends list Get a Link to this Reply
sorry to say but both coins are damaged and would not have any collector value.
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 Posted 01/23/2022  11:44 am  Show Profile   Bookmark this reply Add Coinfrog to your friends list Get a Link to this Reply
Both show evident damage, worth less than 5 cents each in my opinion.



to the CCF!
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United States
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 Posted 01/23/2022  12:10 pm  Show Profile   Bookmark this reply Add dquiroz68 to your friends list Get a Link to this Reply
Thank you.. I'm afraid to post you my zombie pennies. Some of them are scary. I do have an off center struck 1955 Wheat penny. Do I give it a try and post it? Also I have a couple of wheat pennies in decent shape. And I have some black steel pennies that are super stuck to a magnet but I don't show them. Lol. After these I show my wheat pennies I'll put them up.
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 Posted 01/23/2022  12:35 pm  Show Profile   Bookmark this reply Add T-BOP to your friends list Get a Link to this Reply
@ OP , Go to this site to learn a little about grading .
https://www.PCGS.com/photograde/
And if you really want to learn about coins then stay with us, we'll knock your socks off .

In Memory of Butch L.
and Jim U. rest in peace .
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 Posted 01/23/2022  12:38 pm  Show Profile   Bookmark this reply Add ijn1944 to your friends list Get a Link to this Reply
Cool. Suggest only posting one coin per topic. Thanks.
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 Posted 01/23/2022  5:11 pm  Show Profile   Bookmark this reply Add Earle42 to your friends list Get a Link to this Reply

Quote:
These pennies both weigh 3.1. are there are they worth grading?

Some help to ponder before sending off any coin for grading:

Following is info concerning the actual nature of grading companies that can help people make better-educated decisions.

Thinking of Slabbing? Make sure you understand the Facts...or You Could Lose Money.


1. The grading companies are not a way that the majority of people, even those with a great deal of experience who know what they are doing, are going to be able to use in order to make huge personal profits. Before researching the facts, many people start using grading companies thinking they will find a way to finance their hobby, but these people soon learn a hard lesson.

2. Watch videos of knowledgeable dealers getting slabs back from the grading companies. Note even experienced dealers who live, eat, breath, and deal coins for a living can accurately predict what grade the companies will give. And...the "fault" (it NOT really a fault) is in a widespread mistaken perception people get from being exposed to hundreds of slabs being sold, which leads to people just assuming slabbing is a natural thing to do for all coins by everyone who wants to make money.

Coin grading companies are just businesses. Businesses exist to make a profit. The companies use a system where allegedly three, but in reality its normally only two, graders look at each coin and give an opinion. Some company videos showing the process make you believe this is a relaxed paced process of studying each coin. In fact one PCGS video shows a number of guys sitting around a table discussing what they think a specific coin should be graded as (on youtube somewhere - sorry no link). Uh uh. Personally having talked with former graders (granted - its been awhile), the process is very rushed.

If you take a PCGS graded coin slabbed as MS64, break it out, and resubmit it to PCGS, you are never guaranteed the same grade again.. The re-slabbed coin could possibly come back MS62 (on a bad day for the graders), 63, 64, 65, or MS66 (a great day for you!). This is b/c the process is all subjective: No scientific/verifiable standards or methods are used.

But..this is all hearsay without proof. So...
http://goccf.com/t/346174#2967242

Here is another good read from someone there at the start of the grading companies:
http://goccf.com/t/130186

3. People also seem to think grading companies will examine a coin to see if they can find an error and then slab it as such. But again, they ONLY GRADE coins. The companies will NOT try to find and ID an error for you. You must FIRST ID the error yourself, CHECK to see if the company you want to use recognizes that specific error, PAY them to verify the error on the label, and then you may or may not actually get what you pay for! The companies have a bad reputation for attributing errors correctly.

I am more than willing to email a link to download (Dropbox having problems for some reason with putting a link here) send a copy of an essay using PCGS website data (al linked to) that presents a conclusive argument PCGS makes rookie level mistakes with variety attributions (some very obviously wrong) on Kennedy haves. These mistakes have literally cost collectors thousands of dollars. Again, this info is all documented with data and links from PCGS's own site. The data is a real eye opener (and sad) as to actual expertise levels in this area.

4. Costs:
Over the years on this forum I have seen a general statement that if a coin does not book at 150.00, then you will not break even with the fees to get it graded with companies such as NGC and PCGS. Membership fees and other things tacked on depending on the service from these businesses can add up quickly. ANACS has no membership fee and is much less expensive to submit coins to than the others, but NGC and PCGS (especially slabs tend to sell for more).
You must have a good idea of the grade the coin *might* get, find sold prices for similar slabbed examples, and then calculate the cost and what you are willing to gamble...b/c it is a gamble. Things like slabbing key dates generally are not so hard to decide.

5. Summary:
PLEASE NOTE: You don't have to throw in the towel over these companies...but education about the reality of them will put you on the right pathway to dealing with them in a legit way without losing money in the process.

BTW...if you just like to collect slabbed coins for what they are, which makes losing/making money from slabs irrelevant, then of course enjoy them!"
How much squash could a Sasquatch squash if a Sasquatch would squash squash?
Download and read: Grading the graders
Costly TPG ineptitude and No FG Kennedy halves
https://ln5.sync.com/dl/7ca91bdd0/w...i3b-rbj9fir2
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 Posted 01/24/2022  05:30 am  Show Profile   Bookmark this reply Add smat45 to your friends list Get a Link to this Reply
w/Earle42

Read it a couple of times so you really understand!

and



smat
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11915 Posts
 Posted 01/24/2022  08:24 am  Show Profile   Bookmark this reply Add panzaldi to your friends list Get a Link to this Reply

Quote:
I do have an off center struck 1955 Wheat penny. Do I give it a try and post it?


struck off center coins have some premium. minor off centers have very little. a lot depends on how much off center the coin was struck and the rarity of it. there a tons of off center strikes that make it into circulation over the decades. it wouldnt hurt to post it here just so you can learn something about them and the striking process.
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