Expert: PAPAJACK - 3/12/2008

Question
I have just purchaced a penny collection with the dates ranging from 1909 to 1959.All of them in there own sleaves, most are marked XF or VF.I am a new collector and do not know a great deal about pennies.However, These coins look nice. What can I expect that each coin is worth? There are also a couple of coins marked UNC. Thanks for your time

Answer
Hello Tim,                       

Each coin has a value assigned; they are not all the same. Some years are harder to find or more rare and the value changes according to the state of preservation or grade. The grading scale runs from 1 to 70. A circulated coin can only grade up to Almost Un-Circulated grade 59.

For grading the Cent Lincolns bow tie and ear wear first. Also is there any mint mark on the coin?
Wheat cents were minted from 1909 to 1958, at the Philadelphia, Denver, and San Francisco Mints. If you see a "D" below the date, the coin was minted in Denver. If you see an "S" below the date, the coin was minted in San Francisco. If there is no letter below the date the coin was minted in Philadelphia.
If you have a 1909-S with the letters V.D.B. on the back bottom it is worth ore than all the other coins together. So there is no telling what each coin is worth without eveluating each of them.
Most cents from these years in a lower grade (4 to 30) will sell for less than .50 cents each. Their value is all in their state of preservation. (They can sell for as little as .15 cents each in collectable condition). If they show full details on the Jaw, Bow Tie and Wheat Heads they are much more collectable and can sell from $3 to $7 dollars in grades from EF grade-40 to AU grade-55 for scarcer dates.

In grading terms Good = Grade 4, VG (Very Good) = grade 8, F (fine) = grade 12, VF (very Fine) = grade 20, EF (extremely Fine) = grade 40, AU (almost Uncirculated) = Grade 50. UNC is short for an un-circulated coin. These technically grade from 60 to 70 on the coin grading scale

For Lincoln Cents there are only a few valuable circulated condition coins to look for.

1909-S, 1910-S, 1911-D, 1911-S, 1914-D, 1914-S, 1915-S, 1921-S and 1922-D OR 1922 no D, 1924-D, 1926-S, 1931-D, 1931-S.
THESE ARE ALL KEY OR SEMI-KEY DATES FOR Lincoln cents. There are some others as well.

Most cents made after WWII cents sell for less. Dealers trade them by the pound from .03 to .05 cents each for circulated condition cents.  

As long as coin collectors can get these same coins in mint condition having never been circulated they will continue to have a low value.

Thank You and Good Luck

PapaJack