One of the best exercises you can do to learn how to grade for fun and profit is to secure bank-rolled brilliant and uncirculated Lincoln cents, find strong strikes and take a chance on slabbing them with a leading holdering company.
I submit to PCGS and NGC. When it comes to Lincoln cents, PCGS grades a tad harsher so that MS66 or MS67 in a Memorial cent can bring high prices, with a steep drop-off at the MS65 Gem Level.
Here are some PCGS cent values at the MS65 through MS67 levels:
- 1959 Red: MS65, $1; MS66, $40; MS66+, $600; MS67, $4500
- 1960-D Red (Large Date): MS65, $1; MS66, $45; MS66+, $285; MS67, $6000
- 1969-S Red: MS65, $15; MS66, $165; MS66+, $400; MS67, $4150
- 1973-D Red: Ms65, $4; MS66, $45; MS66+, $285; MS67, $3000
I wrote about how to select, grade and submit modern cents with strong strikes in this post, recommending viewers hone their grading skills by comparing their cents to counterparts on PCGS Photograde Online. Following my own recommendations, I then submitted the best eight 1973-D cents in my rolls to PCGS, hoping to get MS66 or higher for the coins.
Here’s how they came back:
As you can see, only one coin lapsed into the $4 MS65 category. On the positive side, seven of eight 1973-D submissions came back at MS66.
Each of those was worth $45 retail.
I’ll be submitting these coins to auction and using revenues to pay for holdering fees of $136. These coins are “red” but have pastel rainbow hues, so they are exceptionally pretty. I think I’ll keep one for myself!
After all, this is what coin collecting is all about, the ability to enhance grading skills, know varieties and devices, and spot bargains that most other collectors with lesser skills miss.
You can also hone your skills with Jefferson Nickels, which folks usually overlook. Ones with full steps on the reverse can bring even higher prices than cents, often in the hundreds of dollars at Gem for certain years and in the thousands of dollars at MS66 or MS67. Also look for full bands on the reverse of silver and clad Roosevelt dimes. You’ll be surprised at the values as hobbyists focus increasingly on condition rarity for their set registries.
This is an another excellent article. You show once again that numismatics is fun and well within everyone’s budget to enjoy. Grading is an important skill and learning about it can be fun and rewarding as you demonstrated. I like to do this with the presidential dollars. I invest $1000 in a box, pick out about 10 or 15 of the best coins in the box and bring the remainder back to the bank. High grade presidential dollars (or any modern coin that goes through the conveyor bins at the mint for edge lettering) are rarities. I believe the future will reward the patient collector who has taken the time to learn how to grade this series.
Donald Scarinci
Thank you, Donald! I have to try this with presidential dollars. That’s a nice tip that you shared with us. Warm regards from your CCAC colleague!
If uncirculated rolls of 1973-D cents contain on average 1 MS66, then are they really worth $40, or is the market pricing them based on perceived, not actual scarcity. And, if the latter is true, wouldn’t you expect the price to come down as more come on the market and the true scarcity (ie, not scarce at all) is revealed. Also, it isn’t clear to me from this article and the prior one if these came from one roll or 7 rolls.
Edward,
Uncirculated rolls do not contain on average 1 MS66; that’s not how this is done. You have to luck out and spot an uncirculated roll with a strong strike, which is easier done in person than online, of course. These came from four rolls all purchased at the same time. In one, the coins were super strong. I wager I have between 15-25 MS66s in this one particular roll. I’m not sending all of them in due to holdering fees, etc.
You’re wrong again about price dropping as more come on the market. That’s not how this works. Certain years have relatively poor strikes in certain denominations. That’s why the price is so steep for MS66 and MS67.
For instance, the 1974-S at MS 65 R is $11 and $175 at MS66 R. The 1982 bronze large and small date is even more, as these suffer from poor strikes.
Perhaps explaining how I go about looking for modern coins with strong strikes also will be of help. I’m on the look-out for full steps 1958 nickel. At MS64, this is an $80 coin. At MS65, the price rises to $1,150. This is a very doable hunt because the stronger 1958 nickels are in mint sets rather than rolls.
Again, though, the point of all this is the ability to grade and discern strong from weak strike, especially on some devices, such as steps on the reverse of Jefferson Nickels.
Hope this helps!
Michael
Very good, concise info in this article. Thanks! You have inpsired me to be more mindful of all the deals out there just waiting to be found. I should probably start first with all the coins I own!
Thanks so much, Joe S. Sometimes we find hidden treasures in coins we already own!