1866 IH today.

[Garabaldi]

Dug this 1866 IH penny and was wondering if anyone knows if it is in G-4 condition or better? I am not sure how or what the 4 means after the G in the red book. G means Good condition correct? I have been cleaning it with warm water soap, soft bristle toothbrush and using a toothpick for the hard crud. Any thoughts of what this coin is worth?

 

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[Jimmy@romega]

f-xf details from what I can tell but the drawback is corrosion which brings the value way down. I would say xf strong liberty check for the 4 diamonds on the ribbon to see if there is any this is a plus.

 

[Jimmy@romega]

What ever you do don't scrub the green off of it that would definately pit the coin to the point of worthlessness.

 

[Garabaldi]

I will not take the green off. What does xf stand for and is it better than G-4? Can you give me an idea where the diamonds would be and what they would look like. I see three arrows. Do you think this coin is worth 50 dollars?

 

[testing123]

Congrats on the IHC!

One thing to note is that the Red Book should generally not be used to value dug coins. The Red Book is for "retail" prices - i.e. prices you expect to pay your local coin shop for problem-free accurately graded coins. Coins dug generally have some corrosion or scratches lowering their value. I usually look through the completed auction listing on eBay for similar-looking coins for an idea on real value.

 

[testing123]

Coins are graded on a scale of 1 to 70. A coin graded "1" is barely identify-able (however it's spelled). A coin graded 70 is flawless. The grades go like this.

Poor (PO) 1
Fair (FR, FA?) 2
About Good (AG) 3
Good (G) 4 and 6
Very Good (VG) 8 and 10
Fine (F) 12 and 15
Very Fine (VF) 20, 25, 30, 35
Extra (also "Extremely") Fine (EF or XF) 40, 45
About Uncirculated (AU) 50, 53, 55, 58
Uncirculated (Mint State) (MS) 60, 61, 62, 63, 64, 65, 66, 67, 68, 69, 70

 

[dirtfishing]

Absolutely it's a $50+ Coin. XF means Extra Fine. If it weren't for the Green Warts and Rim dings, it would easily be a $150+ coin, that Indian was dropped soon after entering circulation. You might try soaking it in Olive Oil for a while, should loosen up some of the crud.

 

[Jimmy@romega]

it's on the ribbon next to the neck,

 

[Jimmy@romega]

I say it's worth 20-30 dollars

 

[Garabaldi]

Absolutely it's a $50+ Coin. XF means Extra Fine. If it weren't for the Green Warts and Rim dings, it would easily be a $150+ coin, that Indian was dropped soon after entering circulation. You might try soaking it in Olive Oil for a while, should loosen up some of the crud.

Will soaking it in olive oil take off the green patina?

 

[Garabaldi]

it's on the ribbon next to the neck,

Ty jimmy.