Went to a coin show last weekend and saw two guys almost come to blows over grading...

There was this older collector who insisted a 1943 steel penny was worth $500 because it was 'uncirculated,' while a younger dealer kept pointing at a scratch and saying it'd grade as 'good' at best. I stood there for ten minutes listening to them argue about wear patterns and luster until the show organizer had to step in. So which is it - do you go by the official grading system or trust your own eyes when you're buying for your collection?

2 comments

2 Comments

olivia39820h ago

Nah, I gotta disagree a bit. Even if you're just buying for the story, $500 for a common steel penny with a visible scratch is still way too much. Grading matters because it keeps the market from being totally wild west, but you also gotta use your eyes to spot when someone's just trying to cash in on nostalgia.

mila_campbell251d ago

That 1943 steel penny debate comes down to one thing nobody mentions - the buyer's intention. A raw steel cent in good condition runs about 20 cents on eBay, so $500 is a joke unless you're paying for the story behind it.