Expert: PAPAJACK - 3/22/2009

Question
Could I please get the value on a 1866 2 cent wheat penny please.

Answer
Hello Mark,             

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.

Borrow or buy a copy of the RED BOOK listed below.  It will identify and help you determine the value of your US Coins. It does not have to be an up to date issue.
In each series of coin type there are some quick reference points of wear to be seen on the high part of the coins design that are known to show wear first. This is covered in the RED BOOK titled “A GUIDE BOOK of UNITED STATES COINS” - by R. S. Yeoman.

Most circulated coins range from Good (grade-G4) to Almost Uncirculated (grade-AU50) on the scale. So remember a grade of Good is 4 out of a possible 70 is a low grade.
If yours are circulated or have wear it would be assigned a grade less than 60 on the scale.

1866 2 cent coin is valued about $9 for grade 8 to $24 in grade 40. The guide book shows you how to tell the difference from grade to grade.

I hope this information helps!

Good Luck and feel free to write me again asking any question on US Coins.

PapaJack