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 Replies: 11 / Views: 1,588 |
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Valued Member
Canada
137 Posts |
I have bought graded coins but I haven't sent anything to be graded yet and was wondering ,in your opinions ,when is it worthwhile to send something to be graded.I have a number of 65 dollars and halfs, 67 dollars that are at least ms 63-64 some better IMHO .I don't have any plans on selling any at the moment so should I bother.
Thanks
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Pillar of the Community
Canada
2845 Posts |
Good question, I'm interested in responses as well and like you, I'm not interested in selling at this point in time. But the ability to accurately recognize the grade of MS silver coinage is also way over my head.
Perhaps someone might also comment on recommendations for a grading company. I'm concerned that with time, the future trend will shift away from ICCS's soft plastic folders.
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Bedrock of the Community
Canada
10743 Posts |
That is a good question, but in my opinion I would just keep them the way they are for now especially, if you think they only make 63/4, there are lots out there in those dates at that grade. I also think if you are sending Canadian coins in to be graded that ICCS would be the place to go even if their folders are kind of crappy..  |
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Pillar of the Community
Canada
972 Posts |
As a general rule of my own a coin would need to have a minimum value of at least $75-100 to justify the cost to be certified.
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Pillar of the Community
United States
1511 Posts |
I won't even consider it unless it's I want a variety attributed or it's a rarer/more valuable coin, unless theres something unique or special about the coin nothing under $500 is even considered.... Probably more actually, again unless there's something needing attribution or something else "special". But I hear a lot of people say that if the price they paid + the shipping/grading fees won't put them into the negatives when they go to sell then they'll have them graded. And some people will slab coins with sentimental value that obviously wouldn't seem to be worth the fees... If only for the sake of preservation etc. I guess my cut off value might be a bit high..... But then again, I'm not really a huge fan of grading companies....  At all.... so I may be over critical. I just prefer raw coins and don't see a point in slabbing unless there something worth noting or it's a rare variety, error etc, or pretty rare/valuable in general. In fact, lol, if the coins worth less than 500ish and I bought it slabbed... there's a good chance I'm going to set it free of that plastic coffin..   Edited by NathanASE
06/02/2015 08:12 am
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Pillar of the Community
United States
5825 Posts |
Quote:
As a general rule of my own a coin would need to have a minimum value of at least $75-100 to justify the cost to be certified. Right idea but I use a different criterion. I determine how much it will cost to get graded (don't forget S&H both ways). That amount should be 10% or less than what I feel the coin is worth. For US TPG's that means $200+. |
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Pillar of the Community
United States
2049 Posts |
I have only done 3-4 coins. Two were Top 50 Peace dollar VAMs (so I wanted them attributed and graded). Another was a 1922 weak D or no D Wheat cent (sent in to get authenticated and graded). The fourth and final one was a 1932-S Washington quarter which I sent in for the same reason as the 1922 Wheat cent. Otherwise, I don't typically bother as I would rather use the fees towards acquiring more coins. |
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Valued Member
 Canada
137 Posts |
Thanks for all the replies,what got me thinking was another thread about what happens to your coins after you die.i was thinking it would be easier for the family to get a decent price if graded.But for the more common coins it might not be worth it.
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Pillar of the Community
Canada
867 Posts |
The coins you describe in your initial post would have to be exceptional grades or varieties, otherwise you are wasting your time on grading fees for coins selling at their melt value. For example there is a 1967 ICCS MS 64 on ebay right now for $24, and no shortage of coins in this price range....consider that ICCS grading costs about $12-15 per coin, you can see the problem here for a coin that is marginally better than melt value, for a year when the mint produced tons of them. |
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Pillar of the Community
Canada
2845 Posts |
These comments have got me thinking why I'm considering getting some of my coins graded as well. The reason is that recently I caught the coin collecting fever and have put a considerable investment into furthering/upgrading a coin collection from 1900 onward that was given to me years ago by my father. (He got a lot of joy from it, I couldn't bear to sell it.)
Having read this forum for quite some time (thank you!) and learned to be somewhat cautious especially given I know a little about grading but I'm certainly not an expert plus the fact that I'm not close to a storefront dealer, I made it a decision to purchase only graded coin for purchases over $200 from trusted online sellers, (actually some of whom I recognize here on this forum).
Therefore my more valuable coins are graded if purchased by me and I know exactly what I have, but those from the original collection are ungraded. So I think I've answered my own question - it would make sense for me to have those graded as well, using the same estimated value of $200 or greater.
Kanga: Have you mentioned $200 in the past? Maybe that's how I set that limit. If so, thank you, it works for me!
Edited by wildflowerAB
06/02/2015 9:55 pm
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Pillar of the Community
United States
1373 Posts |
I don't plan on ever having any of my coins graded. Spending more money for something I already own doesn't make sense to me.
Also, if I was concerned about making money by buying and selling coins, then I know that I'd be better off not getting into the hobby to begin with.
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Pillar of the Community
Canada
2845 Posts |
atticguy, I sort of see what you're saying. I think maybe what canadiancoinaholic is thinking about, and myself as well, is along the lines of prudent estate planning and seeking to determine a more precise value of what is owned. Coin collecting is a hobby but it can easily cross over into "investment" territory depending on how avid the pursuit!
As far as buying and selling coin.....I agree as well, for the average person looking to make a quick buck, they'd probably stand a better chance playing the market with a "monkey pick" of penny stock.
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Replies: 11 / Views: 1,588 |
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Posted 06/02/2015 05:46 am
