Although coins from several years may appear dark from improper annealing or alloy mix, so-called “Black Beauty” nickels were minted in Philadelphia in 1958 and 1959, containing trace amounts of cobalt and silicon during the refining process resulting in their fetching appearance.
Other “gunmetal” nickels might look similar due to overheated annealing, patina gone terminal, and metal-detected corroded coins. But these should not bear the nomenclature of “Black Beauty.” Here’s a panel of 1958 and 59 black beauties alongside an improperly annealed 1963 nickel.
If you find a 1958/59 “Black Beauty,” and wish to grade the coin, it should be uncirculated; otherwise, the cost of grading is prohibitive as these are not valuable errors. Typically, they go for under $50, although unscrupulous sellers like this one use the name “Black Beauty” for tarnished verdigrised coins, asking ridiculous prices (always check “sold” on eBay).
Also keep in mind that if you wish to have “Black Beauty” on the graded label, you should submit to ANACS.
Otherwise you will get an “improperly annealed planchet” label from PCGS or NGC:
Sometimes the improper alloy mix results in only partially black coins, as in this attractive 1959 example:
While many hobbyists search for 1958/59 “Black Beauties,” improperly annealed coins can be beautiful in their own right. Here’s a lovely Shenandoah quarter:
I call these “Bay Pony” coins after brown horses with black manes and tails.
Finally, for the literati reading this post, the name “Black Beauty” comes from an animal autobiographical novel concerning a thoroughbred who tells of owners who mistreated and ultimately loved him.
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Grading is expensive. If you don’t know how to grade coins, buying ones from top-tier companies mentioned here will be your best bet. If you want to send you coins to a company, though, you had better know the various companies and which ones to avoid.
Also, some general price an submission rules. Go to the site of the top companies here and read their price and submission guidelines:
If you decide on a company, be sure to note whether it has membership fees. You’ll also have to pay grading, handling and mailing fees. If you want photos of your coin, you’ll pay more. If you are submitting error coins, you’ll pay again. As such, you don’t want to join a company and send in one coin. Figure at least five.
And you will have to fill out forms and use the correct flips for submissions.
Each holdering company has its own rules, but two stand out with their grades so consistent that they were considered sight-unseen buys in the pre-internet era. Those are PCGS and NGC.
TOP TIER
My favorite for U.S. coins is PCGS because of its spectacular TrueView photos and set registries. Here’s one from a coin that I sold recently at GreatCollections, an MS68 1990 American Silver Eagle that looks like a flag, primarily because it was stored in corrugated cardboard.
NGC grades as consistently as PCGS. I recommend it for ancients.
Both PCGS and NGC have shortcomings. For instance, they are inconsistent with toned coins, often calling them artificial. But I always recommend the two if you are considering grading.
CAC (see photo below) is as consistent or even more so than NGC and PCGS. But it’s relatively new to the grading game as it initially was founded as a fourth-party grading company, in essence, affirming (or not) grades of PCGS and NGC. One drawback concerns those assembling a set of PCGS or NGC to compete in registry sets. CAC is not there yet but will be in time.
SECOND TIER
Second-tier reliable grading companies include ANACS and ICG. ANACS coins in my view are close to PCGS/NGC in grading. ICG, less reliable.
Older ANACS holders sometimes are rigorously graded, as in this one:
Here is an 1878-S MS64 by ICG (I say MS63 at PCGS):
THIRD TIER
A few other holdering companies are hit-and-miss with a tendency to overstate grades and to overlook flaws. Nevertheless, they are somewhat reliable. I place them in a third tier. I would not submit to these. But I do at times see coins accurately graded. Some, like PCI, were taken over by unreliable companies. Look for old green and yellow PCI holders and SEGS and Numistrust holders. See below. I always look at these coins at auction and rely on my grading ability to affirm their grades. Personally, I like SEGS the best but have spotted common flaws on some of its coins, including pin scratches. So again I inspect rigorously.
BOTTOM TIER
These are some holdering companies I skip right over, not wasting time, because the grades are usually inflated and flaws, overlooked: SCG, National Numismatic Certification, newer PCI, PGA.
Here are examples:
JUST MY OPINION
Keep in mind that this post is based on my opinion and experience. You may think differently, experience different results, and even prefer lower tiers to PCGS and NGC.
But here is a warning if you are buying coins housed in these lower holders: Do not look up the year/date/mint mark on the PCGS or NGC values sites. All grading companies use the Sheldon 70 scale, but different grading standards mean different values. Read this post about that.
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Coin collecting is a complicated business requiring knowledge of key dates and condition rarities for each denomination in addition to history, art and metallurgy. Selling coins is even more complicated if you do not know what you are doing.
This post does not cover errors and varieties. Even though YouTube, Facebook and TikTok and other sites promise thousands of dollars for error coins and varieties, identifying these takes special skills, which you may not have and is beyond the scope of this article. Often what you think is a error is really only damage. Read this post to understand why.
Below are some selling basics. Results will vary. There are just too many variables that affect value. But below are some benchmarks for you to consider, which may help you avoid buyers low-balling your collection.
Contact a PNG dealer
The easiest way to get an appraisal is to take your wares to a reputable coin shop. Before going there, however, check to see if the dealer is a member of the Professional Numismatists Guild whose motto is Knowledge, Integrity, Responsibility. You can search if your dealer is a member by clicking here.
Become familiar with the hobby
In the short term, a good way is to follow coin sites like this one. There are many on internet.
And you should purchase the numismatic bible, A Guide Book of United States Coins, also known as Red Book. Get the 2025 edition: “Updated pricing and auction records, new research, new photographs, the latest U.S. Mint data, and more! 472 pages, 2,000+ images, with more than 7,600 listings and 32,500+ coin prices.”
Become familiar with the Sheldon scale
The Sheldon Grading Scale describes the condition of a coin without damage or other flaws, earning a number between 1 (lowest) and 70 (highest). The scale is used by PCGS, NGC, ANACS and other grading companies. The grade is an indication of value.
Know key dates of the series
Here is a nifty chart that many coin shops use on their sites. It’s not comprehensive and doesn’t include what we call “condition rarities,” or coins that are common in lower grades on the Sheldon scale but rare in about uncirculated or uncirculated condition. But it will give you an idea about dates and rarities.
Familiarize yourself with common flaws
DO NOT CLEAN YOUR COINS. People without numismatic experience believe cleaning coins enhances value. It doesn’t. It typically decreases value by a significant amount.
Often the coins you inherit will be damaged in some way, polished, dipped, cleaned, whizzed and so forth. Check this Proxibid article that describes typical flaws that will greatly lower the value of your coins. Here is a doctored coin with a chemical patina:
Estimate the grade
To get an idea about grading, compare your coin with the same one on the useful free site, PCGS Photograde Online.
Check for dimensions and value
Assuming your eye makes a reasonable comparison–keep in mind that grading accurately takes time, focus and effort–then check estimated values on PCGS CoinFacts or another such site. You will get important measurements and weights, essential in making sure you do not have a counterfeit coin.
Submit to a grading company
If you think you have a rarity or condition rarity, you might consider a grading company to assign a retail value of your coins. Often, this is unnecessary, especially if you do not know how to grade. It is expensive to grade a coin with PCGS, NGC and ANACS, reputable companies. Be ware of bottom-tier grading companies that over-grade and overlook flaws.
Each holdering company has specific rules for submission. Read them.
Consign your coins
Consider contacting reputable HiBid auctioneers or eBay sellers that often take consignments. Click those links in the previous sentence to see some of Proxiblog’s favorite sites.
DO NOT SEND THE COINS to these sellers without contacting them first. Also investigate those sites to see if you might like your coins sold there. Email the site owners, describe your collection, and ask if they take assignments. Be sure to inquire about consignment fees and request a sample of the consignment contract. Read it carefully to see if you approve of the terms.
Finally, keep in mind that hammer prices and your cut may be below any retail price of the same coin, date, condition and mintmark. But auctions are a true test about value–what someone actually is willing to pay.
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You can find more information about types, varieties, errors, grading, bidding and buying in Coin News Updated: The Essential Guide to Online Bidding. Please consider buying or gifting the work for a friend, as it underwrites this hobbyist blog. Thank you.
