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1960 large date penny! Worth sending it in for grading at this condition??

If it doesn't fit anywhere else, POST IT HERE. Numismatic related posts only.

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1960 large date penny! Worth sending it in for grading at this condition??

#1 Unread post by Mdang »

Found this coin in a roll of penny that i got from neighborhood gas station!! Worth holding on to it? And should i send it in for grading? Picture shown regular lighting and the other is with flash on.

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Re: 1960 large date penny! Worth sending it in for grading at this condition??

#2 Unread post by JTCC »

No, not worth it.

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Re: 1960 large date penny! Worth sending it in for grading at this condition??

#3 Unread post by SensibleSal66 »

No, stick it in a 2x2 for another 60 plus years .
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Re: 1960 large date penny! Worth sending it in for grading at this condition??

#4 Unread post by Daniel »

This is at least the third time you posted a coin and ask if it was worth grading. We don't offer that advice here. You go to PCGS, look up the photograde, look up the price in the price guide, look at their fees and shipping, then decide if you like loosing that much money.

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Re: 1960 large date penny! Worth sending it in for grading at this condition??

#5 Unread post by Earle42 »

Not sure if I posted this before for you or not. I believe you have the typical mistaken idea of what coin grading companies do.
Please read the following so you can make an educated decision about grading companies. These companies are not what the marketing mindset has led people to think they are and its an expensive mistake to make:

Here is more info concerning the nature of the grading companies to help people make better educated decisions.
Thinking of Slabbing? Make sure you understand the Facts...or You Could Lose Money.

1. People seem to think grading companies will examine a coin to see if they can find an error and then slab it as such. They ONLY GRADE coins and do NOT try to find errors on coins.

2. The grading companies are not a way that the majority of people, even those with a great deal of experience who know what they are doing, are going to be able to use in order to make huge personal profits. Many people start using grading companies thinking they will find a way to finance their hobby, but they learn a hard lesson quickly.

3. Watch some of Daniel's videos where he gets pieces back form the grading companies. Note even people who live, eat, breath, and deal coins for a living (like Daniel) can accurately predict what grade the companies will give. And...the "fault" (not really a fault) is in a widespread mistaken perception people get from being exposed to all the slabs being sold nowadays.

Coin grading companies are a business out to make a profit - this is why they exist. They use a system where (allegedly, but in reality its normally two) three graders look at each coin and give an opinion. The company videos showing the process make you believe this is a relaxed paced process of studying each coin. In fact one PCGS video shows a number of guys sitting around a table discussing what they think a specific coin should be graded as (on youtube somewhere - sorry no link). Uh uh.

If you take a PCGS graded coin slabbed as MS64, break it out, and resubmit it to PCGS, you are never guaranteed the same grade again. The slabbed coin might come back MS62 (bad day for graders), 63, 64, 65, 66 (great day for you!). This is b/c the process is all subjective: No scientific/verifiable standards or methods are used. Personally having talked with former graders (granted - its been awhile), the process is very rushed since they told me graders are paid by how many coins they can get through in a day.

But..this is all hearsay without proof. So...
Grading the Coin Graders

Here is another good read from someone there at the start of the grading companies:
Hobby negative impacts from slabbing companies

Also link to and read (download if you want it) the pdf link in my signature. The verifiable data presented shows trusting people have spent thousands of dollars on many slabbed coins that are not what the companies claims/slabbed the coins to be.

You don't have to throw in the towel over these companies...but education about the reality of them will put you on the right pathway to dealing with them in a legit way without losing money in the process.

And…if you just like to collect slabbed coins for what they are, which makes losing/making money from slabs irrelevant, then of course enjoy them!"
Fact Check the grading Companies:
Fact checking grading company shortcomings on NO FG halves: or higher resolution version: