Coin and Paper Money Collecting/indian head us penny

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Expert: - 8/2/2008


Question

face of the penny
I found a 1907 in really good condition. it looks like it was only handled a little bit and has a couple scratches. How much would it be worth?

Answer
Hello Pamela,               

I cannot tell much from your picture but the coin may have been cleaned it seems like an unnatural color for the age of the coin. But perhaps it was stored with other metals.

Coins are valued on a scale from 1 to 70. And on how rare a coin is. With no or little experience it is sometimes easier letting another collector look at them, and even most coin shops will help for free on a few pieces.

In each series of coin type there are some quick reference points of wear to be seen on the high points that are known to show wear first. Most of these are covered in the RED BOOK titled "A Guide Book of U. S. Coins" by R. S. Yeoman. If you can borrow a copy or use one while at your library it will help with your questions. The grading details it describes at the start of each coin series is taken from the American Numismatic Association Standard. And uses the 1 to 70 scale recognized by all professionals since the 1970's.

Most circulated coins range from Good (grade-G4) to Almost Un-circulated (grade-AU50) on the scale. So remember a grade of “really good condition” as you say is only 4 to 8 points out of a possible 70 points to a collector or dealer.

The date you have is considered a common one.
See how many letters are clear in the head dress on Lady Liberty. You need to see at least 3 for a coin to grade good (G-4).

For a 1907 Indian head Philadelphia mint Cent:
Very Good (Grade-8) = $2.00
Fine (grade-12) = $3.00
Very Fine (grade-20) = $4.00
Extremely Fine (grade-40) = $5.00 and
Almost Un-circulated (grade-50) = $10.00

A word of advice never try to clean any coin in any way.
Learning to estimate the grade of the coins and noting any cleaning or mishandling is the key to finding the value.

Thank You and Good Luck

PapaJack
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PAPAJACK

Expertise

Knowledge of United States Coins from 1793 to date. Able to answer most common numismatic questions. Collected U.S. Coins from half cent to 50 dollar gold coins.

Experience

QUALITY CONTROL
United States Coin COLLECTOR/DEALER OVER 20 YEARS, U.S. COINS Worked trade shows,
EXPERT Consulting since 1990, Knowledge of all methods of fabrication used in the industry.
Hobbies:US notes, clocks, cars, computers, coins, leisure activity and crafts to name a few.

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