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 Replies: 22 / Views: 1,781 |
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Pillar of the Community
United States
984 Posts |
 Going at it alone for my truly first attempt to fulfill my collection. An attempt to complete a set from 1934 to 2022 of at least ms-66. As the years become more modern the grade adjustment will go up of course. This was not my first ever submissions. Previous submissions were teens and 20's where my success rate was mediocre at best. My idea of correct color was terrible. My third submission were of duplicates of dates I thought the coins were awesome. It cost me $18.90 per coin this includes postage shipping and insurance for a total of 453 dollars give or take a dollar. From my own choices my results are 8 are ms 65, 32 are ms-66, 1 is ms-66+, 4 are ms-67 and 1 ms-67+. These results are from coins I found in rolls. Previously others were coins purchased individually over a period of 20 years. I will have to improve my future submissions and will do so with the forums help. Throwing money away maybe? wasting my time maybe? Enjoying it definitely! Learning a lot  depends on who you ask. We all have our vices I guess Edited by grospoisson
02/04/2022 07:06 am
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Bedrock of the Community
United States
94367 Posts |
Wish I had your dough!  |
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Bedrock of the Community
United States
10284 Posts |
That grading cost a pretty penny!
Edited by TNG
02/04/2022 09:07 am
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Rest in Peace
United States
18456 Posts |
Yes , I always wondered about that ; May I ask what you do for a living ?  |
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Bedrock of the Community
United States
19961 Posts |
You're having fun, that's the most important part! You'll learn a lot from this.
Lincoln Cent Lover!VERDI-CARE™ INVENTOR https://verdi.care/
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Pillar of the Community
United States
7276 Posts |
Sadly I think you wasted lots of money. I have slabbed a few cents and only 1 came in @ MS67, every other was MS68-69 and I thought I wasted money but you made me feel better. |
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Pillar of the Community
United States
7621 Posts |
Ouch!
Grading submission costs can be an expensive tuition lesson.
On the bright side at least you nailed the color designation!
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Pillar of the Community
 United States
984 Posts |
Quote:
Yes , I always wondered about that ; May I ask what you do for a living ? Sure no problem. Surprisingly I make way less than you would imagine. I am a high school math teacher of 39 years. I also coached football and baseball for most of them. I have probably spent around 1500 dollars in grading fees. But maybe more. each of us approach money a little different I guess. I do not have a nest egg put away so I can die and my kids will get it. I am retired and rehired so basically still working. at 62 I want to enjoy my life and I am enjoying this. Real old coins never interested me just the Lincolns. The ms-66 coins I get may return half their value after I die. who knows? I ruined two good sets of Lincolns in my dansco albums from poor storage. I would like to receive higher grades. I do receive retirement and I have good health insurance as will my wife for the rest of our life. I have been an avid bass fisherman all my life with nothing to show for it and my friend is expensive. Most on the forum say they collect because they enjoy it. I am so out of my element that I am really enjoying this. Thanks for all your help. |
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Pillar of the Community
United States
984 Posts |
Quote:
Sadly I think you wasted lots of money. I have slabbed a few cents and only 1 came in @ MS67, every other was MS68-69 and I thought I wasted money but you made me feel better. I probably wasted money no doubt. My submissions will slow down as I learn what is really good. I just get excited when I see a coin that I think is really good. a lot of 60's and 70's Lincolns in ms-67 are not pocket change. You for one have saved me money by drilling it in my head about color and alterations. Those coins from now on will be purchased already slabbed. Who knows I might find that ms-68 coin from the 60's or 70's where none are recorded yet? Raw older coins are very rare I think. So on to the next three boxes of 60's and seventies. Appreciate your advice and help. |
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Valued Member
United States
191 Posts |
If you're enjoying the experience, keep on doing what you like. What gives any of us the right to tell you how to spend your money?
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Pillar of the Community
United States
5832 Posts |
@grospoisson,
Hopefully you make better progress on your next submissions, but understand photos uploaded here is as good as what you provided, it can't represent the actual coin itself. Perhaps go to local shows and coin shops and buy some already graded coins for references.
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Pillar of the Community
United States
984 Posts |
Quote:
Hopefully you make better progress on your next submissions, but understand photos uploaded here is as good as what you provided, it can't represent the actual coin itself. Perhaps go to local shows and coin shops and buy some already graded coins for references. Advice well received. Unfortunately no one on the forum seems to believe me when I say there is one LCD within a 60 mile radius of my house and he doesn't want to fool with Lincolns. There were two shows within a 3 hour driving distance last year. On show had 15 tables with 3 having a few Lincolns as side shows and one with 25 tables and 4 with a few Lincolns. The photos I provide are not presented to deceive anyone or hide flaws , in fact just the opposite. It would be counterproductive to try and deceive. Members have been helpful in providing flaws I didn't consider. I will use these submission results as tools. In fact with better equipment I have been able to spot why these coins were ms-66. Equipment I did not have when I submitted these coins. I was shooting for at least ms-66 but now I want better. I am spending money to learn I guess. |
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Pillar of the Community
United States
7621 Posts |
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I am spending money to learn I guess. That's why I call it tuition! Doesn't matter if you spend it at the grading company, coin show/shop or at the college admissions office ——- as long as you learn something from it it is your money to spend! |
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Pillar of the Community
United States
2189 Posts |
If you find it exciting that's all that counts! I know people that blow as much on scratch tickets, what do they have after spending all that money? zilch....at least you have something tangible.
Good luck with continuing your quest!
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Bedrock of the Community
United States
94367 Posts |
We all lust, just differently.
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Bedrock of the Community
United States
10038 Posts |
Don't expect solid and verifiable results from a business that outright claims what they do is subjective. The companies themselves call coin grading an art! The grade assigned a coin can easily change if that coin is broken out and resubmitted even to the same company.
People in our modern and scientific society just assume grading companies use verifiable scientific standards. But the companies do nothing verifiable. This fact keeps the profitable re-slabbing game alive for the companies.
What about the PCGS guarantee? Study it with an open mind. Very careful wording is used to basically say two things:
1. They will make it good if they slab a fake coin as being real - this is legit.
2. If you think the grade they assigned was too high and don't want that high of a grade (think about that one for a minute...)
a. They will downgrade the coin for you, or
b. They will buy the coin from you for what they call "market value..."
...wait for the next shoe...
Further in the guarantee's text PCGS defines "market value" to be PCGS's own discretion on what they think a dealer would pay for the coin - not actual market value the way collectors' typically think of it when that term is used.
In other words you would be better off selling that slab you question (would you really question it?) on the market yourself instead of accepting their offer.
BTW... the last scenario of selling the coin to PCGS also means PCGS could make even more profit by selling the slab you returned at the higher price suggested by the slab the coin is currently in. No evidence says whether PCGS does this or not.
Since it was only the former owner's opinion the grade was to high, does PCGS go against their own graders' judgement, break the coin out, downgrade and re-slab it, and then sell the slab for less than they could have? We don't know.
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Replies: 22 / Views: 1,781 |
Posted 02/04/2022 09:06 am
