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Replies: 32 / Views: 4,674 |
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New Member
United States
7 Posts |
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 Edited by Baseball111 11/13/2012 01:47 am
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Bedrock of the Community
13014 Posts |
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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New Member
 United States
7 Posts |
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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Pillar of the Community
1028 Posts |
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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New Member
 United States
7 Posts |
Would it be wise to take of out of the case to prevent the color from further diminishing?
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Moderator
 United States
56855 Posts |
 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.shtmlJohn1 
Edited by John1 11/13/2012 04:58 am
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Bedrock of the Community
United States
20753 Posts |
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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Moderator
 United States
188130 Posts |
 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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Valued Member
United States
109 Posts |
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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Pillar of the Community
United States
3540 Posts |
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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Moderator
 United States
16679 Posts |
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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Pillar of the Community
United States
3276 Posts |
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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Pillar of the Community
United States
1339 Posts |
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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New Member
 United States
7 Posts |
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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Pillar of the Community
United States
2797 Posts |
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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Pillar of the Community
Russian Federation
5172 Posts |
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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Replies: 32 / Views: 4,674 |