Slabbing & grading ?

[DTEJD1997]

Hey all:

I have a question about slabbing & grading of coins.

I have been to a few local coins shops and have noticed that they sometimes have "low value" coins that are slabbed & graded for sale. An example might be a brilliant uncirculated 1959 penny. Or a 1970 Jefferson nickel. These are nice looking coins, but what is their value? $1, possibly $2?

So why is this done?

Why would somebody pay to slab & grade a 1970 Jefferson nickel worth $1?

The only thing I can think of is that somebody is getting a wholesale deal or maybe the graders themselves are slabbing these low grade coins to make a couple of dollars per coin.

Any input on this?

[NDFarmer]

I have always wondered the same thing. I see slabbed pennies, nickels, newer clad dimes and quarters sell at auction sales for around $15.00 Everybody says it costs about $25.00 to get a coin slabbed.

[justoneguy]

A 1970'd' nickel is worth $2.40 a ms67 books at over $900.
they send 'em in hoping to geat a great grade.
maybe the should have the doc look 'em over 1st.

[Engineer]

Those were the Doc's practice coins from back in the days before PCGS started asking him how to grade coins.

[moboman]

For the registry. Anyone who wants to have a competitive set has to have one of each coin in a series, the registry doesn't accept raw coins.