Is it worth paying to get a 'dug' coin graded?

[Capncrunch]

Ok, a little background: I have been detecting for a little over 2 years (this time) but off and on, all my life- my folks bought me a $19.99 Sears detector for Christmas, when I was 10ish, and my first find was a 1907 IHP.
I currently have a permission that is an 1832 Mansion (literally 4500+ sqft), and the owner is a coin collector. The agreement we made was that we would split everything 50/50, but he has been very generous and allowed me to keep most of my finds, after he examines them.
However, I finally found a pretty valuable coin and we are needing to divide the value 50/50, as agreed.
I THOUGHT it would be smart to get it graded and then either sell it, and split the proceeds, or one of us could buy-out the other. Then I saw how much money the grading companies want- to clean, grade, encase, and ship (seems they add cost for any and everything)- Holy Cow!
I have never had a coin graded, nor sold anything that I have detected/dug- do they usually fall below the expected value because of environmental damage? Would it add anything to the coin's value and/or is there a REASONABLE/TRUSTED grading service out there?
What is the general consensus: Is it worth the extra money to get this graded, or would we be better off just putting it up for sale and accepting what we get?
Thanks in advance for any information.
God bless!

John

 

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[UnderMiner]

Really depends on the coin, if it's a key date sometimes it pays to get it graded and slabbed even if it has "environmental damage" simply so its authenticity can be marked as genuine. If it's a fairly common but chewed up gold coin or a big common silver coin then it may just be worth its price in its metal content.

 

[Merf]

Ok, a little background: I have been detecting for a little over 2 years (this time) but off and on, all my life- my folks bought me a $19.99 Sears detector for Christmas, when I was 10ish, and my first find was a 1907 IHP.
I currently have a permission that is an 1832 Mansion (literally 4500+ sqft), and the owner is a coin collector. The agreement we made was that we would split everything 50/50, but he has been very generous and allowed me to keep most of my finds, after he examines them.
However, I finally found a pretty valuable coin and we are needing to divide the value 50/50, as agreed.
I THOUGHT it would be smart to get it graded and then either sell it, and split the proceeds, or one of us could buy-out the other. Then I saw how much money the grading companies want- to clean, grade, encase, and ship (seems they add cost for any and everything)- Holy Cow!
I have never had a coin graded, nor sold anything that I have detected/dug- do they usually fall below the expected value because of environmental damage? Would it add anything to the coin's value and/or is there a REASONABLE/TRUSTED grading service out there?
What is the general consensus: Is it worth the extra money to get this graded, or would we be better off just putting it up for sale and accepting what we get?
Thanks in advance for any information.
God bless!

John

It is best to read the faq at the grading company. I know one that said they will not grade dug coins.

 

[flinthunter]

Some companies will not grade a dug coin. It will come back as authentic with environmental damage. There are only several good trustworthy companies out there that I would trust my coins with. Do some research and make a couple phone calls.

 

[l.cutler]

It definitely depends on the coin. Key dates that are often counterfeited would benefit just from being authenticated. It also depends on what the coin is made of, copper, silver or gold? Can you let us know what the coin is or post a picture?

 

[Tpmetal]

It takes special conditions for a dug coin to come back with a grade and no environmental damage tag. That being said, I did have a 1921 d merc that I dug and sent in for grading. Got lucky and it came back with no environmental damage tag. Also In reference to costs, find a coin shop that has an account with a grading company. They get better prices when they are sending in a few coins at a time with their account vrs what you will pay doing a one time transaction.

 

[Capncrunch]

Thanks for that information! I really appreciate all the knowledge this site offers newbies, like me!

 

[Gare]

I do not feel it is needed to get a dug coin graded. But then i have never sold anything i have found . I do not find things to sell./ I have though gave a lot of finds away

 

[Capncrunch]

I do not feel it is needed to get a dug coin graded. But then i have never sold anything i have found . I do not find things to sell./ I have though gave a lot of finds away

I understand exactly what you are saying! However, as I mentioned, the landowner made a pact with me to split anything valuable, so I HAVE to assign a value and then split it with him. I can try selling it on ebay, I suppose, and then splitting the proceeds- after listing fees, PayPal, etc. The other option would be to 'buy out' his half and keep the coin, which would be better (to me) if I knew a solid value...

 

[pepperj]

Can you tell us what the coin is, and see a picture of it?

 

[Tpmetal]

I do not feel it is needed to get a dug coin graded. But then i have never sold anything i have found . I do not find things to sell./ I have though gave a lot of finds away

I did it mostly as a way for people to know whats worth what when I keel over one day. If its in a graded holder they know to look into it to sell it, if its not then i won't roll over in my grave when you send it in for scrap.

 

[Capncrunch]

Can you tell us what the coin is, and see a picture of it?

Sure. It's this one.

 

[Tpmetal]

Did you clean the coin? it looks like you may have?

 

[treasureguy56]

Some companies will not grade a dug coin. It will come back as authentic with environmental damage. There are only several good trustworthy companies out there that I would trust my coins with. Do some research and make a couple phone

Would you mind sharing the names of those grading services in which you have had personal success and in your opinion are worthwhile .
I would appreciate your opinion .
Thank you

 

[Gare]

A good way to get a coin valued is to take it to coin dealer. See how much he will offer you for it. Then multiply it two or three times lol

 

[flinthunter]

Would you mind sharing the names of those grading services in which you have had personal success and in your opinion are worthwhile .
I would appreciate your opinion .
Thank you

Even though I have several that I would like to have graded, I haven't used a grading service yet. PCGS is the one I hear the best reviews for. You need to be a member of their service before using them. Most reputable coin dealers are members and will send your coin in for you.

 

[Capncrunch]

Did you clean the coin? it looks like you may have?

It has some scratches on it that I DID NOT put there. If that is what you are referring to? I have other photos that didn't show them well, so I posted the best(?)/worst ones. I assume that the scratches are environmental or were already there, when it was dropped...
However, I DID take it out of my 'coin vault' (pill bottle with cotton balls in it) and give it to the landowner, who took it inside and started searching the internet, because HE knew it was a key-date/mint coin. Obviously I hadn't gotten a good look at it yet.
Honestly, IDK what HE may have done with it.
When I got it home, I soaked the coin in soapy water and rinsed it under running water from the faucet. I'm fairly new (again) to tis hobby- I hope that was correct?

 

[Tpmetal]

It has some scratches on it that I DID NOT put there. If that is what you are referring to? I have other photos that didn't show them well, so I posted the best(?)/worst ones. I assume that the scratches are environmental or were already there, when it was dropped...
However, I DID take it out of my 'coin vault' (pill bottle with cotton balls in it) and give it to the landowner, who took it inside and started searching the internet, because HE knew it was a key-date/mint coin. Obviously I hadn't gotten a good look at it yet.
Honestly, IDK what HE may have done with it.
When I got it home, I soaked the coin in soapy water and rinsed it under running water from the faucet. I'm fairly new (again) to tis hobby- I hope that was correct?

yeah that is fine as long as it wasn't rubbed on. I was more looking at how there appears to be only oxidation around the sharp details and letters. It will most likely get the environmental damage tag when graded(because of that oxidation but do not try and clean the coin yourself), but the good news is you have great detail and little wear. Most coins the environmental damage tag is a death sentence for value, but when you have a coin in such high demand, a lot of collectors will begrudgingly overlook that. Especially when it is in as good of shape as yours. talk to a coin dealer and get it sent in. Be sure to inquire what insurance and safety measures will be taken when it is sent.

 

[BennyV]

It depends. If I found one of those silver coins from the 1600’s or something else crazy rare and/or valuable I would.

 

[srcdco]

You can grade it yourself. Actually, if the guy is a collector, he can grade it, too. You both should grade it independently and come to a consensus on the grade. Use this website: http://www.barbercoins.org/Barber-Dimes-Grading.shtml. Personally, I grade it as VF-20, with environmental damage. Most dealers would price it at a grade lower due to the scratches, but that's something you and the homeowner need to agree on.
Here is a page with values: https://www.usacoinbook.com/coins/1405/dimes/barber/1895-O/. You are looking at a value of $970 - $1388.
Nice find and good luck.

Scott