1957 Lincoln Penny

Minted in the year 1957 at the Denver mint. Mint State condition. Red. 67 out of a possible 70 (perfect gtade).

MS67 is a high grade. However, another opinion may have it at MS65.

This was a common date. If it is a 67 grade, you are looking at a $20 to $30 coin...tops. The big word is IF.

Look at the "Determining Value" threads and "What is it worth?" for more information.

I should have added...does your 1957 look like this? If it does, you have something!

I guess the question is, "who graded it?". As Mike stated, if it is graded by one of the top grading services of PCGS or NGC, then it is worth more than a $20 MS66RD coin. But if you have a 2x2" cardboard with some handwriting on it, then it isn't worth much.

I could be wrong here, but I think he was trying to say that, since grades of MS65 and over are very difficult to grade, that unless it was graded by a top tier grading company you can't accept the MS67 RD grade as gospel. (Granted, even with top tier companies, it's not always gospel either, but those grades are more widely accepted and therefore command a premium over non-slabbed coins).

Correct me if I'm wrong here Zakgold.

I should have said all things being equal...which is definitely not the case in coin grading. I guess we are still waiting for more information from LOYO on this particular example. Sure it is possible for a coin to be in a 2x2 that could grade out at MS67RD. But I am telling you, for that person who claims it is a MS67RD, I can assure you there will be ones looking to buy it that will claim it to be "only" a MS65/66.

So if all things are equal and you can't see the coin yourself, a PCGS or NGC MS67RD coin will fair better in prices realized than the same coin in somebody's 2x2 with a hand written note of MS67RD on it.

It is like that story of the Morgan dollar that I initially thought was a grade of MS64, but the dealer assured me it was a MS65. I liked it and HAD to have it! Years go by and I bring that very coin back to possibly sell and that same dealer now tells me it is no better than a MS64. I show him HIS receipt for this coin stating a MS65 and what does he tell me?...that I probably switched the coin on him!?! [Yes, it was stored properly and looked every bit the same when I first bought it]

So I shouldn't have doubted the MS67RD grade on a 2x2...but it is sooooo hard not to. Now LOYA...give us more details that we need before we can offer a decent recommendation.

BTW...Metalman, you are not being a pain as you bring up great points. I am just a bit skeptical when somebody states a raw coin to be be MS67RD (especially ebay) when I am already deducting 2 to 3 points in my head. You are right..,Buy the coin, not the holder (if you can see and hold the coin)...and then let the grading debate begin.

quote:

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Originally posted by Metalman

Susan

would'nt that constitute buying the Holder ? and the TPG name rather than the coin?

I think the coin would have to be an MS-67 Red to achieve that grade before it went to the TPG and thus would hold the same value .no matter how it is stored or what holder it was in.

Im sure that I'm being a pain here but I dont mean to be.but a grade would have to be suspected before submission to make it reasonable to submit it in the first place .

Rick

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Speaking as someone who always buys the coin and not the slab (I actually prefer raw), it is true that an MS67 RD is the same grade whether it is in a 2x2 or a slab. All I'm saying is that the market is such that the same coin in a top tier slab will bring a premium over the raw coin in most instances. This is probably due to the fact that there aren't enough people out there who buy the coin and not the slab. These are probably also the same people who are buying the sub-standard slabs and expect the grade to be gospel. My comments were directed at the market opinion, not my personal opinion.

Adding to what Susan and Zakgold said, if the coin was graded MS-67RD by OTHER than the top four TPGs (PCGS, NGC, ANACS, ICG), then it most likely is NOT MS-67RD since the lower-tiered and non-tiered TPGs generally grade anywhere from two to eleven points higher than the accepted and established standards. I.e., if the Lincoln is graded by, say NNC as MS-67RD, it almost certainly is NOT MS-67RD.

And, while it's always the best option to buy the coin, not the slab, meaning that one should be in a position to adequately gauge the quality of the coin inside the slab, this isn't always possible, especially when shopping online where images can be (and often are) photoshopped or are fuzzy or aren't true due to imaging technique (e.g. scanned). In these latter instances, the only reasonable assurance a buyer has of the grade is the slab. If the third-party grader is of lower quality, then the coin is most likely also of lower quality than the stated grade.

Hi everyone..

Can I throw my Two Cents in here.? Before that slab coin became a graded MS-67 Red it had to be stored somewhere. In something. So it is correct to say that a raw 1957-D can be in a 2x2 holder and still make the grade.

Now we come to acceptability. A buyer will, in most cases, attempt to drive down the price of a raw coin by claiming the seller has graded it too high. The seller will attempt to get more money by "pushing" the grade higher than it is.

By submitting it to a third party grading you are only asking for a third opinion on the coin. This too can be right or wrong based on the needs of the slab company. Money effects them as well and a need to keep their name in the spotlight.

However the slab companies opinion carries weight with both the collector and the dealer. One will still swear that the coin is graded correctly while the other will say that it's not. To enforce their own opinion either buyer or seller will "break" the slab open and resubmitt it to the same grading company or to a different one.

A 1957-D is a VERY common coin. I strongly feel that anyone who would pay $100.00 or more is really throwing their money out the window. Think of the nice Seated dollar you could have in its place. However that decision is up to the collector.

I'm with Susan. I like raw coins. I learned to grade and buy and sell by the Photograde or ANA Grading Guide.

catman

It's amazing what coins will start good conversations, isn't it?