High grade lincoln cents

[MiciDragan]

Please bear with me on this one,

Are cents taken out from US Mint Proof sets and then sent for grading or are they sold already graded from the US Mint?
Taken the price of a Proof Set into consideration such coin would end up costing over 50USD unless all the other coins in the set are graded as well.

Mici

[WaterSport]

People buy the proof sets and then try to search for the hugest possible proof examples and send them in for grading. The Mint does not send in any for grading . If you see "First Strike" on the label, its a promotional gimmick of the grading companies and not coins sent in by the mint. There is a Huge profit to be made by getting a Proof 70 Example compared to any lesser grade. Thats mostly why you see slew on Ebay early in the year as folks are trying to get the highest dollar while the populations are low.

WS

[MiciDragan]

Thanks for the explanation WS.

[MiciDragan]

Isn't it little bit risk taking by buying a same years highly graded cent? I am thinking that there is always a risk that "things develop" on the coin during the years?

Mici

[GrumpyEd]

Isn't it little bit risk taking by buying a same years highly graded cent? I am thinking that there is always a risk that "things develop" on the coin during the years?

Yes there is a risk. They might grow a spot or turn color.
Then you might be in a fight with the grader (if they guarantee it at all) as to if it was graded wrong or it turned because of the environment you stored it in.
Another risk is you could buy something rare based on few already graded in that high of a grade but over the years more might get graded that high or higher and they can drop in value.

You mentioned proof sets. Note that proof is not a grade, it's a method of manufacture. So a low graded proof is still a proof and a high graded normal coin is still not a proof. With all coins the value of the same grade in proof vs normal is different, like an MS69 proof might be common but an MS69 normal bus strike is not common for most coins.

I think there's only ever been one MS69 wheat cent bus strike graded by PCGS. There were only a few memorials and some have spotted and been bought back or downgraded.

Playing the grade game is really complicated.