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1960 Penny Worth Grading?

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Canada
73 Posts
 Posted 03/08/2021  3:31 pm Show Profile   Bookmark this topic Add Shane30530 to your friends list Get a Link to this Message Number of Subscribers
Hello everyone. I would like you opinion on whether this penny is worth grading or not. Also if someone could give me a good general rule to go by when determining to grade or not. Thank you in advance.

1960-Penny-Worth-Grading?
1960-Penny-Worth-Grading?
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JimmyD's Avatar
Canada
21611 Posts
 Posted 03/08/2021  3:45 pm  Show Profile   Bookmark this reply Add JimmyD to your friends list Get a Link to this Reply
Certainly NOT worth grading. It would cost way more to have it graded than what it is worth.
I usually go by the rule that unless it is worth at least $150.00, it is not worth the expense of grading.
Why would you want to grade it?
Valued Member
Canada
73 Posts
 Posted 03/08/2021  4:00 pm  Show Profile   Bookmark this reply Add Shane30530 to your friends list Get a Link to this Reply
That's a good easy standard to live by. I was asking mostly because of its age and it was found in pocket change and I've never found a coin that old and that nice looking. I was shocked how it made it 60 years without more damage. Thank you for the advice.
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That Coin Dude's Avatar
United States
1427 Posts
 Posted 03/08/2021  4:01 pm  Show Profile   Bookmark this reply Add That Coin Dude to your friends list Get a Link to this Reply
Generally Not worth sending in pennies for grading, and yours has too many distracting marks to get above 62
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Coinfrog's Avatar
United States
94367 Posts
 Posted 03/08/2021  4:22 pm  Show Profile   Bookmark this reply Add Coinfrog to your friends list Get a Link to this Reply
Agree, definitely not worth grading.
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ijn1944's Avatar
United States
19164 Posts
 Posted 03/08/2021  4:28 pm  Show Profile   Bookmark this reply Add ijn1944 to your friends list Get a Link to this Reply
Decent coin for use as an album hole filler. Who knows, it could've been in grandma's sock drawer for 60 years, only to reenter circulation just recently
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HGK3's Avatar
United States
573 Posts
 Posted 03/08/2021  4:33 pm  Show Profile   Bookmark this reply Add HGK3 to your friends list Get a Link to this Reply
The cost of getting a coin graded, adding in shipping both ways and insurance, is going to run you between $30 and $50. The variance is largely dependent on how many coins you are having graded, since shipping and insurance are pretty much the same for one coin or 10.

(That's why many people will save up coins to be graded until they have a sizable batch).

So knowing the cost of grading, you should then compare that to the value of the coin, post grading. If you're going to spend $30 to establish the coin is worth $25, that might not be a wise investment.

Some will set a $$ amount on value before grading such as $100 or $150, which seems a little arbitrary to me. There are lots of reason to have a coin graded and not all of them are economic, but being able to do a basic cost/benefit analysis should help with decision making process.
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BadThad's Avatar
United States
19958 Posts
 Posted 03/08/2021  6:34 pm  Show Profile   Bookmark this reply Add BadThad to your friends list Get a Link to this Reply
AU-63 range, as other said, not worth slabbing.

Your coin would have to hit 67 or higher to be worth it:

https://www.PCGS.com/coinfacts/coin...date-rd/2860
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spru's Avatar
United States
12477 Posts
 Posted 03/08/2021  8:03 pm  Show Profile   Check spru's eBay Listings Bookmark this reply Add spru to your friends list Get a Link to this Reply
with all the above.
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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