When should I gamble on getting a modern penny graded?

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Coinaddict411
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When should I gamble on getting a modern penny graded?

#1 Unread post by Coinaddict411 »

I have this penny I found coin roll hunting that looks very nice. If it grades ms 66 67 it will be worth the cost. However should I gamble just to see what it grades or is that a waste of money and effort?
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Paul
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Re: When should I gamble on getting a modern penny graded?

#2 Unread post by Paul »

C.O.N.E.C.A. Wi State Rep
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Re: When should I gamble on getting a modern penny graded?

#3 Unread post by Coinaddict411 »

Alot of people are thinking this is a proof I cant tell.

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Re: When should I gamble on getting a modern penny graded?

#4 Unread post by SensibleSal66 »

Not Proof . Here's one from my collection . Mines "raw" and not worth the gamble in my opinion .
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Re: When should I gamble on getting a modern penny graded?

#5 Unread post by Funky Strike »

I case you didn't click on the Paul's link - this is what one just sold for on eBay:
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Re: When should I gamble on getting a modern penny graded?

#6 Unread post by Coinaddict411 »

I did and that's a proof 67...are u saying this is a proof or is this a buisness strike and if it's a proof how can u tell?

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Re: When should I gamble on getting a modern penny graded?

#7 Unread post by Coinaddict411 »

This would be the gamble.
I would have to get a 67. I know daniel has said it's almost impossible to get a 67 but man its tempting.
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Re: When should I gamble on getting a modern penny graded?

#8 Unread post by Earle42 »

It is a gamble period. Your pics make it very hard to say if it is an impaired proof or not, and if it is, its definitely not worth the gamble since you would be slabbing something worth maybe less than a dollar and paying big bucks to get it done.

I hope you also saw his video where he tells that someone who lives, eats, breathes, and lives coins cannot tell what the companies grade companies will assign to a coin.

I have no doubt the companies like it this way b/c it is profitable for them to do so. They will not say why they assign a specific grade and companies are not using any science or verifiable process to assign a grade. Know that a coin broken out and re-slabbed even by the same company is never guaranteed the same grade again b/c there is no real testable standard the grade is assigned by.

The higher the grade assigned, the more buyers pay. The more buyers pay, the more people take the gamble on "striking it rich."

Play the game, but be willing to not be surprised if you lose a bundle. Don't forget to figure in the cost of PCGS membership, grading fees, and then also selling fees if you would plan to put it online to sell. That will help you in your decision.

Many times in the last 10 years of being part of online coin forums I have read where people who play the slab game have said that anything found in circulation will likely not obtain a grade higher than MS63.
Common grading company shortcomings & resulting co$tly mi$take$ to collectors (using Kennedy No FG halves):
https://tinyurl.com/y7rksxu8

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