No Value For Lesser Grades - Stupid Question?

First of all, there is no such thing as a stupid question. Feel free to ask any questions here. We love to help.

As far as the reason, like everything else, the price guides are based upon what dealers report as the selling price of their coins. While these other coins are definitely worth more than face, I'm sure that dealers are not reporting coins that they have put in their "junk" bins. I don't believe that the sales records on dateless buffaloes, average circulated common date cents, etc. are very accurate.

With silver coins, values that would fall below bullion value will not be listed. Even then, the price guides have to rely on what they think spot price is going to be and it is in constant fluctuation.

It all comes down to what the market will bear. There is a market for these lower-grade coins - usually for sale in lots or rolls and they will definitely bring in more than face. Take a look at completed auctions on ebay to get an idea for what the going price is for these coins.

Price guides would be huge if they listed prices for all grades too.

Yes your 1940's cent do have value. But if you look at the price for the lowest grade for these years listed in the RedBook which is VF you see that the price listed is ten cents. Basicly what that is is a minumum value that represents dealers handling charge. (Remember this is supposed to be a retail price guide.) Any of these coins graded VF-20 or less would show the same ten cent retail value because they have a value less than the minimum dealer handling charge. (And frankly they probably have that minimum set too low. I know in the world coin field most dealers will not price a coin that they have had to put in a 2 X 2 and identify at less than one to two dollars even if the catalog says 25 cents. To do less results in a loss for the value of their time.

So if they say the retail of a VF is ten cents, you can figure it's wholesale value is basicly Two Cents. So is a Fine, or a VG, etc.