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 Replies: 23 / Views: 4,332 |
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New Member
United States
35 Posts |
Hi guys. I have a question regarding the value of one of some of my old pennies. When I see sites talking about the value of a coins.. pennies for example they'll say "the average value means coins in similar condition to other coins from this year" etc. Here's the thing I have a lot of certain old year pennies like 15 1959 pennies, however one seems to be in EF40 condition. So is the value of a EF40 1959 penny more than one cent at auction? or do non error coins have to be MS60+ to be worth more than face value?
Thanks in advanced everyone.
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Rest in Peace
10197 Posts |
One cent = one cent...try again, tablet crapped out. When coins are lower grades as you mentioned, they are basically "face value", unless a rare coin, special error coin, etc. Folks will tell you the 1959 Lincoln is worth more than a penny in "melt" value, but you can't legally melt to get the copper, moot point! Contemporary coins (50's on) unless in high mint state or proof grades hold a very small increase in value.
Edited by Crazyb0
03/22/2018 01:21 am
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New Member
 United States
35 Posts |
Aww seriously. So the only way to make money on post 1958 pennies is in errors or insanely improbable chances of finding ms60 coins in rolls or pocket change. Sheesh that is too bad. So I guess the site was wrong then. I have some dang fine 1959s and 1962's that look as shiny as the average 2008 pennies I see with even hair details visible. Still it's only a cent not even 0.02 lol.
Well crud. It makes me appreciate my Wheat Pennies a lot more especially my 1920 and 1923 Wheat pennies.
Edited by Terra Branford
03/22/2018 01:23 am
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Rest in Peace
10197 Posts |
Wheat cents are @ 2c a piece, but there are many "key" dates that hold a lot of value even in low grades. Buy a Red Book, it will tell you a rough idea if a coin is rare or not! |
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Bedrock of the Community
 United States
12477 Posts |
 Reference is needed. The Red Book will tell you which coins to look for and which are more valuable than others. The prices listed in it, though, are full Retail and not what you should expect when selling.  In Memory of Crazyb0 12-26-1951 to 7-27-2020
In Memory of Tootallious 3-31-1964 to 4-15-2020
In Memory of T-BOP 10-12-1949 to 1-19-2024
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Pillar of the Community
United States
6130 Posts |
There are a lot of people who have been sitting on coin jars for 30, 40, even 50+ years, plus thousands of rolls of every year were stashed away by hopeful collectors. That wasn't the case in the 30s and earlier, which is why you see a huge surge in value. I still occasionally find shiny pennies from the 1960s in pocket change, so I wouldn't ever pay much more than face value for one. Really, I would say the only memorial cents worth anything would be rare varieries, errors, and those in MS 66 or better. I think a forever stamp is 47 cents these days... can you think of many cents you would trade a whole roll of cents for? ^^^ Says the guy sitting on about $75 worth of BU cents pulled from circulation that he logistically cannot turn a profit on  |
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Moderator
 United States
56855 Posts |
2 cents each for a Wheat cent are for the 1940's and 1950's.Pre 1940 should be about 5 cents each and the ones in the teens a bit more,for common date average grade cents. John1  |
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Rest in Peace
United States
17900 Posts |
 if you have specific coins you would like opinions on, please post photos and you will get much more exact evaluations. |
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Rest in Peace
United States
18456 Posts |
Terra , you mention MS-60 which is the lowest grade of Mint State coins . To most of us Lincoln Cent collectors ,MS-60 is frowned upon because of issues that make the Cent have NO eye appeal and for a Memorial cent; almost non collectable . Just thought I'd give you a heads up on that . |
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Bedrock of the Community
United States
20753 Posts |
Value of any coin is misleading. By that I mean anyone can say a coin is worth xxx but just try to sell it for that. So in other words, value really means very little unless you have a place to sell. It is sort of like that program on TV called the Antique Road show. They are always saying something is worth xxx at the right auction. Now try to find that right auction. Same with coins. Unless you can find the right buyer, the value of a coin is worth only what you like it to be. |
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New Member
United States
35 Posts |
Thanks for all the responses everyone. Apparently I had many false hopes and ideas when starting this hobby  It's still fun but now that I know all this t's a little less exciting, oh well. May I ask how common it is to find buyers for error coins or special die varieties. As far as I can tell I may have a 1984 double ear, 1997 D extra columns, 1995 D DD, 1970 S Small Date High 7, and a 1980 DD with a strong naked eye visible spread on the 80 and almost all outer devices. Man I need a good camera. Edited by Terra Branford
03/22/2018 4:47 pm
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Rest in Peace
United States
18456 Posts |
Don't get your self overwhelmed with the hobby in general .We all had to start from the beginning at one point in our lives . The first thing you do is decide what kind of coins you would like to collect . Then buy reference books on it . If your coin of interest is U.S., pick up The Red Book " a guide to u.s. coins "" which most of us find very informative . Lastly study and learn how to grade your coins . PCGS photograde is a good online resource , also a book called " The Official American Numismatic Association GRADING STANDARDS for United States coins ". Good luck and have fun . |
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Bedrock of the Community
United States
19942 Posts |
Quote:
So the only way to make money on post 1958 pennies is in errors or insanely improbable chances of finding ms60 coins in rolls or pocket change. Incorrect! Years ago I found a 1999 WAM, sent it in for grading and later sold it for $550. I've also found MANY other Memorial Cents of value. They don't have to be errors or varieties. I've also completed a very impressive collection of Memorial's in a "standard set" by primarily searching bank rolls and boxes, supplemented using a few other buying methods. However, the bulk of what I have was found searching bank boxes. In general, if a Memorial cent is less than MS-65 I don't bother with it. In my search for individual coins to upgrade my collection, I also found many high grade coins. So many that I decided to start a roll set collection. Today I have not only a complete collection of individual coins, I also have a complete roll set of Memorial Cents in MS-65+ for every issue. Lincoln Cent Lover!VERDI-CARE™ INVENTOR https://verdi.care/
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Pillar of the Community
United States
4589 Posts |
to CCF! An important observation: Good titles get responses. Bad titles get less response or sometimes outright silliness. -----Burton 50+ year / Life / Emeritus ANA member (joined 12/1/1973) Life member: Numismatics International, CONECA Member: TNA, FtWCC, NETCC, EveryCountry (online) coin club Owned by three cats and a wife of 40+ years (joined 1983) Author: 3rd Edition of the Sample Slabs book, https://www.sampleslabs.info/ |
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Pillar of the Community
United States
8715 Posts |
to the CCF! Most LMCs that are not mint errors are worth once cent in circulated condition. Higher grade (MS-67 and above) and they are worth more. Many errors are also valuable, like the 1969-S Doubled Die Obverse. However, many LWCs are worth far more than face value. There are several key dates. The most famous is probably the 1909-S VDB, worth several thousand dollars in both circulated and uncirculated condition. I recommend you purchase a Red Book. It will give you an idea of which coins are more valuable than others and is excellent to read. You may even consider starting to collect older coins along with modern coins. Quote:
Aww seriously. So the only way to make money on post 1958 pennies is in errors or insanely improbable chances of finding ms60 coins in rolls or pocket change. No. Certain varieties of LMCs are worth quite a bit. The Red Book will provide valuable information on which varieties are rarer than others. I recommend that if you see an LMC that is not a rare variety and appears to be lower grade than MS-66 or 65, don't bother trying to sell it. |
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Pillar of the Community
United States
4211 Posts |
and yes, a Red Book is a great tool.  @Finn....I bought a roll of forever stamps this week. They are up to 50 cents now.  |
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Replies: 23 / Views: 4,332 |
Posted 03/22/2018 01:19 am
